Document:

Exhibit 10.8

 

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement (this “Agreement”)
has been entered into by and between the purchaser set forth on the Omnibus Signature Page hereof (the “Purchaser”)
and Olivia Ventures, Inc. (to be renamed “Compass Therapeutics, Inc.” upon consummation of the Merger (as defined below)),
a Delaware corporation (the “Company”) in connection with the private placement offering (the “Offering”)
by the Company.

 

RECITALS

 

A. The Company
is offering a minimum of 10,000,000 shares of the Company’s common stock, par value $0.0001 per share
(“Common Stock”), at a purchase price of $5.00 per share (the “Per Share Purchase
Price”), for an aggregate purchase price of approximately $50,000,000 (the “Minimum Offering
Amount”), and a maximum of 14,000,000 shares of Common Stock at the Per Share Purchase Price for an aggregate
purchase price of approximately $70,000,000 (the “Maximum Offering Amount”). The Company may also
sell an additional 2,000,000 shares of Common Stock at the Purchase Price for an aggregate Purchase Price of approximately
$10,000,000 to cover over-subscriptions (the “Over-Subscription Option”), in the event the Offering
is oversubscribed.

 

B.
The Initial Closing (as defined below) of no less than the Minimum Offering Amount, including the Minimum Insider Investment (as
defined below) is contingent upon, and shall be consummated simultaneously with, the closing of a merger in accordance with the
terms of that certain Agreement and Plan of Merger, dated as of the date hereof (the “Merger Agreement”),
by and among the Company, Compass Acquisition Co., a Delaware limited liability company (“Merger-Sub”)
and wholly owned Subsidiary of the Company, Compass Therapeutics, LLC, a Delaware limited liability company (“Compass”),
BBV International Compass Inc., Biomatics – Compass, Inc., CHI II Blocker LLC and OrbiMed Private Investments V – KA
(Blocker), Inc. (the “Blockers”) and Eight Roads Investments (a Bermuda company), Biomatics Capital Partners,
L.P., and Cowen Healthcare Investments II LP, CHI EF II LP, and OrbiMed Private Investments V – KA (Feeder), LP (the “Blocker
Holders”) pursuant to which Merger-Sub will merge with and into Compass, with Compass surviving the merger
as a wholly owned Subsidiary of the Company (the “Merger”) and certain of the Company’s wholly-owned
subsidiaries (each, a “Blocker Mergersub”) will merge with and into the applicable Blocker, with each
Blocker surviving such merger as a wholly owned Subsidiary of the Company (the “Blocker Mergers”), and
pursuant to which all of the outstanding equity units of Compass will be cancelled in exchange for shares of the Company’s
Common Stock, and all outstanding Compass options, warrants and convertible notes, if any, will be either cancelled or assumed
by, or exchanged for new options, warrants and convertible notes to acquire Common Stock of, the Company, at the same ratio at
which outstanding equity units of Compass are exchanged, with appropriate adjustments to the per share exercise price thereof,
and otherwise on their original terms and conditions. The total number of shares of the Company’s Common Stock that will
be issued to pre-Merger equity holders of Compass or reserved for issuance upon exercise or conversion of pre-Merger warrants and
convertible notes of Compass, if any, will be 39,055,638 shares. In addition, as of the Closing, the Company will have an Equity
Incentive Plan (the “EIP”) reserving 2,930,836 shares of Common Stock, covering pre-Merger Compass options
to be assumed by, or exchanged for options of, the Company, as well as for the future issuance, at the discretion of the Board
of Directors, of options and other incentive awards to officers, key employees, consultants and directors of the Company and its
Subsidiaries. The number of shares initially reserved for issuance under the EIP will be increased annually on the first day of
each year beginning in 2022, at the discretion of the Board, in an amount equal to four percent (4%) of the shares of stock outstanding
(on an as-converted basis) on the last day of the immediately preceding year. Holders of Common Stock of the Company prior to the
Merger will retain in the aggregate 1,000,000 shares of Common Stock after the Merger. On or before the consummation of the Merger,
the Company will change its name to “Compass Therapeutics, Inc.”

 

     

     

    

 

C.
The Shares (as defined below) subscribed for pursuant to this Agreement have not been registered under the Securities Act of 1933,
as amended, and the rules and regulations promulgated thereunder (the “Securities Act”) or any state
or foreign securities Law. The Offering is being made on a reasonable best efforts basis to “accredited investors,”
as defined in Regulation D under the Securities Act, in reliance upon the exemption from securities registration afforded by Section 4(a)(2)
of the Securities Act and Rule 506 of Regulation D. For purposes of this Agreement, “Law” or “Laws”
means any federal, state, local or foreign or provincial statute, law (including, for the avoidance of doubt, any statutory, common,
or civil law), ordinance, rule, regulation, order, injunction, decree or agency requirement having the force of law or any undertaking
to or agreement with any Governmental Authority.

 

D.
The parties intend to treat the Merger, together with the Initial Closing and the Subsequent Closing, if relevant, as part of a
transaction that is described in Section 351(a) of the Internal Revenue Code of 1986, as amended (the “Code”)
to the extent property is exchanged for stock as described therein.

 

AGREEMENT

 

The Company and the
Purchaser hereby agree as follows:

 

1. Subscription.

 

(a) Purchase
and Sale of the Shares.

 

(i) Subject
to the terms and conditions of this Agreement, the Purchaser agrees to purchase, and the Company agrees to sell and issue to the
Purchaser, that number of Shares set forth on the Purchaser’s Omnibus Signature Page attached hereto at the Per Share Purchase
Price, for a total aggregate purchase price for the Shares as set forth on such Omnibus Signature Page (the “Purchase
Price”). The minimum subscription amount for each purchaser in the Offering is $25,000 (or 5,000 Shares). The Company
may accept subscriptions for less than $25,000 from any purchaser in the Offering in its sole discretion. Current officers, directors,
equity holders of Compass and their respective friends and family will purchase a minimum aggregate amount of $20,000,000 of Shares
in the Offering (the “Minimum Insider Investment”). For the purposes of this Agreement, “Shares”
means the shares of Common Stock issued and sold to the Purchaser hereunder in the Offering at the Initial Closing (as defined
below) and at any Subsequent Closing (as defined below).

 

(ii) In
connection with the Offering, the Company has entered or will enter into other subscription agreements in the same form and containing
the same terms and conditions as this Agreement for shares of Common Stock (“Other Shares”) (each, an
“Other Subscription Agreement”) with purchasers in the Offering other than the Purchaser (collectively,
“Other Purchasers”).

 

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(b) Subscription
Procedure; Closing.

 

(i) Initial
Closing. Subject to the terms and conditions of this Agreement, the initial closing of the Offering shall take place upon the
satisfaction (or waiver as provided herein) of the conditions set forth in Section 5 and Section 6 of this Agreement (other than
those conditions that by their nature will be satisfied at the Closing, but subject to the satisfaction (or waiver as provided
herein) of such conditions) or at such other time and place as is mutually agreed to by the Company and the Placement Agents (as
defined below) contingent upon and simultaneously
with the closing of the Merger (the “Initial Closing” and the date that the Initial Closing occurs, the
“Initial Closing Date”). The Company shall provide written notice to the Purchaser of the date of the
Initial Closing at least three (3) Business Days prior to the Initial Closing.

 

(ii) Subsequent
Closings. If the Maximum Offering Amount is not sold at the Initial Closing, at any time prior to July 19, 2020, or at such
later date as the Company and Placement Agents may mutually agree, subject to the satisfaction (or waiver as provided herein) of
the conditions set forth in Section 5 and Section 6 of this Agreement (other than those conditions that by their nature will be
satisfied at the Closing, but subject to the satisfaction (or waiver as provided herein) of such conditions) (each a “Subsequent
Closing” and collectively the “Subsequent Closings” and the date that a Subsequent Closing
occurs, a “Subsequent Closing Date”), the Company may sell additional shares of Common Stock up to the
Maximum Offering Amount, and if there are over-subscriptions, additional shares of Common Stock may be sold at the Per Share Purchase
Price in connection with the Over-Subscription Option (collectively, the “Subsequent Closing Shares”)
to such persons as may be approved by the Company and who are reasonably acceptable to the Placement Agents, including the Purchaser.
Any Subsequent Closing Shares issued and sold to the Purchaser pursuant to this Section  1 (b) (ii) shall be deemed to be
“Shares” for all purposes under this Agreement. To the extent that any Shares are to be issued and sold
to the Purchaser at a Subsequent Closing, the Company shall provide written notice to the Purchaser of the date of any Subsequent
Closing at least three (3) Business Days prior to such Subsequent Closing.

 

The Initial
Closing and the Subsequent Closings, if any, shall be known collectively herein as the “Closings” or
individually as a “Closing.” The Initial Closing Date and the Subsequent Closing Dates are each referred
to herein as a “Closing Date”. Closings may take place remotely via the exchange by electronic transmission
of documents and signatures

 

(iii) Subscription
Procedure. To complete a subscription for the Shares, the Purchaser must fully comply with the subscription procedure provided
in subparagraphs (A) through (D) of this paragraph (iii) on or before the applicable Closing Date:

 

(A) Subscription
Documents. At or before the applicable Closing, the Purchaser shall review, complete and execute the Omnibus Signature Page
to this Agreement and the Registration Rights Agreement substantially in the form of Exhibit A hereto (the “Registration
Rights Agreement”), the Selling Securityholder Questionnaire (as defined in the Registration Rights Agreement),
the Investor Profile, Anti-Money Laundering Form and Accredited Investor Certification, attached hereto following the Omnibus Signature
Page (collectively, the “Subscription Documents”), and deliver the Subscription Documents to the party
indicated thereon at the address set forth under the caption “How to subscribe for Shares in the private offering of Olivia
Ventures, Inc.” below. Executed documents may be delivered to such party by facsimile or .pdf sent by electronic mail (e-mail).

 

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(B) Purchase
Price. At or before the applicable Closing, the Purchaser shall deliver to Delaware Trust Company, in its capacity as
escrow agent (the “Escrow Agent”), under an escrow agreement among the Company, Compass, the
Placement Agents (as defined below) and the Escrow Agent (the “Escrow Agreement”) the full Purchase
Price (less the amount of any Transaction Expenses, if applicable) set
forth on the Purchaser’s Omnibus Signature Page attached hereto, by certified or other bank check or by wire
transfer of immediately available funds, pursuant to the instructions set forth under the caption “How to subscribe
for Shares in the private offering of Olivia Ventures, Inc.” below. Such funds will be held for the
Purchaser’s benefit in the escrow account established for the Offering (the “Escrow
Account”), without interest or offset.

 

(C) Termination.
This Agreement shall terminate automatically and be of no further force and effect, and any amounts deposited into the Escrow Account
by or on behalf of the Purchaser shall be returned to the Purchaser or its designee promptly, without interest or offset, if (i)
the Purchaser and the Company agree in writing to terminate this Agreement prior to the applicable Closing, (ii) the
subscription has been revoked in full by the Purchaser in accordance with Section 8, (iii) in the Purchaser’s
sole and absolute discretion, upon written notice to the Company, if the Initial Closing does not occur on or prior to June 26,
2020; (iv) in the Purchaser’s sole and absolute discretion, upon written notice to the Company, if any representation or
warranty of the Company set forth in Section 3 hereof shall be or shall have become inaccurate or the Company shall have
breached or failed to perform any of its covenants or other agreements set forth in this Agreement, which inaccuracy, breach or
failure to perform would give rise to the failure to satisfy any of the conditions set forth in Section 6(a) or Section
6(b) of this Agreement and which inaccuracy, breach or failure to perform cannot be cured by the Company or, if capable of
being cured, is not cured within two (2) Business Days of the Purchaser’s notice to the Company thereof; or (v) the Merger
Agreement is terminated pursuant to its terms. The Company shall promptly (and in any event within one (1) Business Day) provide
the Purchaser with written notice of the termination of the Merger Agreement.

 

(D) Company
Discretion. The Purchaser understands and agrees that, prior to the execution and delivery of this Agreement by the Company,
the Company in its sole discretion reserves the right to accept or reject this subscription for Shares, in whole or in part. The
Company and the Purchaser shall have no obligation hereunder until the Company shall execute and deliver to the Purchaser an executed
copy of this Agreement.

 

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2. Placement
Agents. Raymond James & Associates, Inc., B. Riley FBR, Inc. and Katalyst Securities LLC (the “Placement
Agents”), each a U.S.-registered broker-dealer, have been engaged by the Company as placement agents, on a reasonable
best efforts basis, for the Offering. The Placement Agents, collectively, will be paid at each Closing from the Offering proceeds
a total cash commission of eight percent (8.0%) of the gross Purchase Price paid by the Purchaser and the gross aggregate purchase
price paid by all Other Purchasers in the Offering (the “Cash Fee”). The Company will also pay certain
expenses of the Placement Agents in connection with the Offering. Any sub-agent of the Placement Agent that introduces
investors to the Offering will be entitled to share in the Cash Fee attributable to those investors pursuant to the terms of an
executed sub-agent agreement.

 

3. Representations
and Warranties of the Company. Except (i) as set forth in the Disclosure Schedule delivered to the Purchaser concurrently
with the execution of this Agreement (the “Disclosure Schedule”), or (ii) as disclosed in the substantially
complete draft of the Current Report on Form 8-K describing the Merger, the Offering and the related transactions, including “Form
10 information” (as defined in Rule 144(i)(3) under the Securities Act), to be filed by the Company with the Securities and
Exchange Commission (the “SEC”) within four (4) Business Days (as defined below) after the closing of
the Merger and the initial Closing of the Offering (the “Super 8-K”) delivered to the Purchaser in accordance
with the terms of this Agreement (the “Draft Super 8-K”) (but excluding any disclosures (whether contained
under the heading “Risk Factors,” in any “forward-looking statements” disclaimer or in any other section)
to the extent they are cautionary, predictive or forward-looking in nature), the Company hereby represents and warrants to the
Purchaser, as of the date hereof and as of each applicable Closing
Date, the following (provided that, as used in this Section 3, the term “Subsidiaries” shall be construed to
include Compass in each case):

 

(a) Organization
and Qualification. The Company and each of its Subsidiaries is a corporation or limited liability company, as the case may
be, duly organized, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or formation,
and has the requisite corporate or limited liability company power to own, lease and operate its properties and to carry on its
business as currently conducted and as described in the Super 8-K. The Company and each of its Subsidiaries is duly qualified as
a foreign corporation or limited liability company, as the case may be, to do business and is in good standing in every jurisdiction
in which the nature of the business as currently conducted and as described in the Super 8-K makes such qualification necessary,
except to the extent that the failure to be so qualified or be in good standing would not have a Material Adverse Effect. For
purposes of this Agreement, “Material Adverse Effect” means any event, circumstance, development,
condition, occurrence, state of facts, change or effect that, individually or in the aggregate with any other event, circumstance,
development, condition, occurrence, state of facts, change or effect, has or would reasonably be expected to (x) prevent or materially
delay or materially impair the ability of the Company or its Subsidiaries to carry out its obligations under this Agreement or
(y) have any material adverse effect on the business, properties, assets, liabilities, operations or condition (financial or otherwise),
results of operations or future prospects of the Company and its Subsidiaries, taken as a whole; provided, however,
that for purposes of clause (y), none of the following shall be deemed in themselves, either alone or in combination, to constitute,
and none of the following shall be taken into account in determining whether there has been or would reasonably be expected to
have a “Material Adverse Effect”: (i) general financial, credit, capital market or regulatory conditions or any changes
therein (provided, however, that such effects do not affect the and its Subsidiaries taken as a whole disproportionately
as compared to the Company’s competitors), (ii) any effects alone or in combination that arise out of, or result from, directly
or indirectly from the announcement, pendency, execution or performance of this Agreement, the transactions contemplated hereby
or any action contemplated by this Agreement, (iii) acts of God, war (whether or not declared), disease, including the COVID 19
pandemic, the commencement, continuation or escalation of a war, acts of armed hostility, sabotage or terrorism or other international
or national calamity or any material worsening of such conditions (provided, however, that such changes do not affect
the Company or its Subsidiaries disproportionately as compared to the Company’s competitors), (iv) any matter disclosed in
the Disclosure Schedule or the draft of the Super 8-K (excluding any disclosures (whether contained under the heading “Risk
Factors,” in any “forward looking statements” disclaimer or in any other section) to the extent they are cautionary,
predictive or forward-looking in nature); (v) any failure by the Company or its Subsidiaries to meet any projections, budgets or
estimates of revenue or earnings (it being understood that the facts giving rise to such failure may be taken into account in determining
whether there has been a Material Adverse Effect (except to the extent such facts are otherwise excluded from being taken into
account by this proviso)), (vi) changes affecting the industry generally in which the Company or its Subsidiaries operates (provided,
however, that such changes do not affect the Company or its Subsidiaries disproportionately as compared to the Company’s
competitors), or (vii) changes in Law or GAAP (provided, however, that such changes do not affect the Company or
its Subsidiaries disproportionately as compared to the Company’s competitors). For purposes of this Agreement, “Subsidiary”
means, with respect to the Company, any corporation, partnership, limited liability company, joint venture or other legal entity
of any kind of which (i) 50% or more of the capital stock or other equity interests or voting power are, directly or indirectly,
controlled, owned or held by, or (ii) that is, at the time any determination is made, controlled (whether by voting power, Contract
or otherwise) by, in each case, the Company (either alone or through or together with one or more of its other Subsidiaries); provided,
that for all purposes of the representations and warranties of the Company set forth in this Agreement, whether made as
of the date hereof or as of the applicable Closing Date, Compass and its Subsidiaries shall be deemed to be Subsidiaries of the
Company regardless of whether the Merger has been consummated.

 

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(b) Authorization,
Enforcement, Compliance with Other Instruments. (i) The Company and each of its Subsidiaries party thereto has the requisite
corporate or limited liability company power and authority to enter into and perform its obligations under this Agreement, the
Registration Rights Agreement, the Escrow Agreement and the Merger Agreement (collectively with all other documents, certificates
or instruments executed and delivered in connection with the transactions contemplated hereby or thereby, the “Transaction
Documents”) and to consummate the transactions contemplated thereby, including to issue the Shares, in
accordance with the terms hereof and thereof; (ii) the execution and delivery by the Company and each of its Subsidiaries
party thereto of each of the Transaction Documents and the consummation by it of the transactions contemplated hereby and thereby,
including, without limitation, the issuance of the Shares, have been, or will be at the time of execution of such Transaction Document,
duly authorized by the Board of Directors or other applicable governing body of the Company or such Subsidiary, and no further
action, proceeding, consent, waiver or authorization is, or will be at the time of execution of each such Transaction Document,
required by or from the Company or any such Subsidiary, its respective Board of Directors or other governing body or its respective
stockholders or equityholders; (iii) this Agreement has been, and at the Closing each of the other Transaction Documents will
be when delivered at the Closing, duly executed and delivered by the Company and each of its Subsidiaries party thereto; and (iv) this
Agreement and the other Transaction Documents, when delivered at the Closing or at the closing of the Merger, as applicable, will
constitute the valid and binding obligations of the Company and its Subsidiaries party thereto enforceable against the Company
and its Subsidiaries party thereto in accordance with their terms, except as such enforceability may be limited by general principles
of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting
generally, the enforcement of creditors’ rights and remedies and, with respect to any rights to indemnity or contribution
contained in the Transaction Documents, as such rights may be limited by state or federal laws or public policy underlying such
laws.

 

(c) Capitalization.
As of the date hereof and without giving effect to the Merger, the authorized capital stock of the Company consists of 50,000,000
shares of Common Stock and 5,000,000 shares of preferred stock, par value $0.0001 per share (the “Preferred Stock”)
and there are 1,000,000 shares of Common Stock outstanding and no shares of Preferred Stock outstanding. Immediately following
the effective time of the Merger, but immediately before the Initial Closing, the authorized capital stock of the Company will
consist of 300,000,000 shares of Common Stock and 10,000,000 shares of Preferred Stock and the Company will have 40,055,638 shares
of Common Stock issued and outstanding and no shares of Preferred Stock issued and outstanding. All of the outstanding shares of
Common Stock and of the capital stock of each of the Company’s Subsidiaries have been duly authorized, validly issued and
are fully paid and non-assessable and free of preemptive or similar rights and other Liens. All of the issued and outstanding capital
stock of each Subsidiary of the Company are owned, directly or indirectly, by the Company, free and clear of any Liens. Immediately
after giving effect to the Merger and the Closing of the Minimum
Offering Amount or the Maximum Offering Amount (in each case, assuming no sales pursuant to the Over-Subscription Option), the
pro forma outstanding capitalization of the Company will be as set forth under “Pro Forma Capitalization”
in Schedule 3c. Immediately after giving effect to the
Merger and the Closing: (i) no shares of capital stock of the Company or any of its Subsidiaries will be subject to
preemptive rights or any other similar rights or any Liens suffered or permitted by the Company; (ii) except as set forth on Schedule
3c(ii), there will be no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities or rights convertible, exercisable or exchangeable into, any shares of capital stock of the
Company or any of its Subsidiaries, or any Contracts by which the Company or any of its Subsidiaries is or may become bound or
pursuant to which the Company or any of its Subsidiaries is otherwise obligated to issue additional shares of capital stock of
the Company or any of its Subsidiaries; (iii) there will be no outstanding debt securities of the Company or any of its Subsidiaries
other than indebtedness as set forth in Schedule 3c(iii); (iv) other than pursuant to the Registration Rights
Agreement or as set forth in Schedule 3c(iv), there will be no agreements or arrangements under which the Company
or any of its Subsidiaries is obligated to register the sale of any of their securities under the Securities Act; (v) there
will be no outstanding registration statements of the Company or any of its Subsidiaries, other than pursuant to the Registration
Rights Agreement; (vi) except as set forth in Schedule 3c(vi), there will be no securities or instruments
of the Company or any of its Subsidiaries containing anti-dilution or similar provisions, including the right to adjust the exercise,
exchange or reset price under such securities, that will be triggered by the issuance of the Shares as described in this Agreement;
(vii) no co-sale right, right of first refusal or other similar right will exist with respect to the Shares or the
issuance and sale thereof and (viii) no shares of Common Stock shall be reserved for issuance, other than 2,930,836 shares of Common
Stock reserved for issuance under the EIP. The Company has made available to the Purchaser true and correct copies of the Company’s
Certificate of Incorporation, as in effect as of the Initial Closing, and the Company’s Bylaws, as in effect as of the Initial
Closing, and the terms of all securities exercisable for Common Stock and the material rights of the holders thereof in respect
thereto other than stock options issued to officers, directors, employees and consultants. Except for the interests in the Company’s
Subsidiaries, neither the Company nor any of its Subsidiaries owns any equity interest or other interest of any nature in, or any
interest convertible, exchangeable, or exercisable for, equity interests or other interests of any nature in any other person.

 

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(d) Issuance
of Shares. The Shares that are being issued to the Purchaser hereunder, when issued, sold and delivered in accordance with
the terms and upon payment the consideration set forth in this Agreement, will be duly and validly issued, fully paid and non-assessable,
and free of preemptive or similar rights, Taxes and other Liens with respect to the issuance thereof, and restrictions on transfer
other than restrictions on transfer under the Transaction Documents, applicable state and federal securities Laws and Liens created
by or imposed by the Purchaser. Assuming the accuracy of each of the representations and warranties of the Purchaser herein, the
offer, issuance and sale by the Company of the Shares is exempt from registration under the Securities Act.

 

(e) No
Conflicts. The execution, delivery and performance of each of the Transaction Documents by the Company, and the consummation
by the Company of the transactions contemplated hereby and thereby, including issuance and sale of the Shares in accordance with
this Agreement, have not and will not (i) result in a violation of the Certificate of Incorporation or the Bylaws (or equivalent
constitutive document) of the Company or any of its Subsidiaries; (ii) violate or conflict with, or result in a breach of
any provision of, or constitute a default (or an event which with notice or lapse of time or both would become a default) under,
or give to others any rights of termination, amendment, acceleration or cancellation of, any Contract to which the Company or any
Subsidiary is a party, except for those which would not reasonably be expected to be material to the business of the Company and
its Subsidiaries, taken as a whole, or (iii) result in a violation of any Law applicable to the Company or any Subsidiary
or by which any property or asset of the Company or any Subsidiary is bound or affected, except for those which would not reasonably
be expected to be material to the business of the Company and its Subsidiaries, taken as a whole. Neither the Company nor any Subsidiary
is in violation of or in default under, any provision of its Certificate of Incorporation or Bylaws or any other constitutive documents.
Neither the Company nor any Subsidiary is in violation of any term of or in default under any Contract, judgment, decree or order
or any Law applicable to the Company or any Subsidiary, which violation or breach has been or would reasonably be expected to be
material to the business of the Company and its Subsidiaries, taken as a whole. Except as specifically contemplated by this Agreement
and as required under the Securities Act and any applicable state securities Laws, neither the Company nor any of its Subsidiaries
is required to obtain any Authorization of, or provide any notice to or make any filing or registration with, any Governmental
Authority in order for it to execute, deliver or perform any of its obligations under or contemplated by this Agreement or the
other Transaction Documents in accordance with the terms hereof or thereof, other
than (i) the filings required pursuant to Section 10(k), (ii) the filing of the registration statement contemplated by the Registration
Rights Agreement and (iii) the filing of a Notice of Exempt Offering of Securities on Form D with the SEC under Regulation D. Except
as set forth on Schedule 3e, neither the execution and delivery by the Company of the Transaction Documents,
nor the consummation by the Company of the transactions contemplated hereby or thereby, will require any notice, consent or waiver
under any Contract to which the Company or any Subsidiary is a party or by which the Company or any Subsidiary is bound or to which
any of their assets or businesses is subject, except for any notice, consent or waiver the absence of which would not reasonably
be expected, individually or in the aggregate, to be material to the business of the Company and its Subsidiaries, taken as a whole.
All notices, consents, authorizations, orders, filings and registrations which the Company or any of its Subsidiaries is required
to deliver or obtain pursuant to the preceding two sentences have been or will be delivered or obtained or effected, and shall
remain in full force and effect, on or prior to the Closing.

 

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(f) Absence
of Litigation. Except as set forth on Schedule 3f, there is no, and since the date that is two (2) years
prior to the date hereof (the “Lookback Date”) there has not been any, action, suit, claim, inquiry,
notice of violation, arbitration, petition, charge, citation, summons, subpoena, proceeding (including any partial proceeding such
as a deposition) or investigation of any nature, civil, criminal, administrative, regulatory or otherwise, whether at law or in
equity, before or by any Governmental Authority (an “Action”) pending or threatened in writing or, to
the knowledge of the Company, threatened orally, against or affecting the Company or any of its Subsidiaries or any of their respective
officers or directors or any of their respective assets or businesses, which has or would be reasonably likely to (i) adversely
affect the validity or enforceability of, or the authority or ability of the Company to perform its obligations under, this Agreement
or any of the other Transaction Documents or (ii) be material to the business of the Company and its Subsidiaries, taken as a whole.
For the purpose of this Agreement, the knowledge of the Company means the knowledge of the officers of the Company (for the avoidance
of doubt, after giving effect to the Merger) and Compass, in each case, both actual or knowledge that they would have had upon
reasonable inquiry of the personnel of the Company or Compass, as applicable responsible for the applicable subject matter. Neither
the Company nor any of its Subsidiaries is, and since the Lookback Date has not been, subject to any judgment, decree, or order
which has been, or would reasonably be expected to be material to the business of the Company and its Subsidiaries, taken as a
whole.

 

(g) Acknowledgment
Regarding Purchaser’s Purchase of the Shares. The Company acknowledges and agrees that the Purchaser is acting solely
in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
hereby and thereby. The Company further acknowledges that the Purchaser are not acting as a financial advisor or fiduciary of the
Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any
advice given by the Purchaser or any of its representatives or agents in connection with the Transaction Documents and the transactions
contemplated thereby is merely incidental to the Purchaser’s purchase of the Shares.

 

(h) No
General Solicitation. Neither the Company, nor any of its Affiliates (as
defined below), nor, to the knowledge of the Company, any person acting on its or their behalf, has engaged in any form
of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the
Shares. “Affiliate” means, with respect to any person, any other person that, directly or indirectly
through one or more intermediaries, controls, is controlled by or is under common control with such person, as such terms are used
in and construed under Rule 144 under the Securities Act (“Rule 144”). With respect to the Purchaser,
any investment fund or managed account that is managed on a discretionary basis by the same investment manager as the Purchaser
will be deemed to be an Affiliate of the Purchaser.

 

(i) No
Integrated Offering. Neither the Company, nor any of its Affiliates, nor to the knowledge of the Company, any person acting
on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any
security, under circumstances that would eliminate the availability of the exemption from registration under Regulation D or afforded
by Section 4(a)(2) of the Securities Act in connection with the Offering of the Shares contemplated hereby or cause this Offering
of the Shares to be integrated with prior offerings by the Company for purposes of the Securities Act.

 

    8 

     

    

 

(j) Employee
Relations. Since the Lookback Date, there has been no actual or threatened in writing, or to the knowledge of the Company,
threatened orally, labor dispute, work stoppage, request for representation, union organizing activity, or unfair labor practice
charges involving the employees of the Company or any of its Subsidiaries. Neither Company nor any Subsidiary is party to any collective
bargaining agreement. The Company’s and/or its Subsidiaries’ employees are not members of any union, and the Company
believes that its and its Subsidiaries’ relationship with their respective employees is good.

 

(k) Intellectual
Property Rights. Except as set forth on Schedule 3k, the Company and each of its Subsidiaries exclusively
owns, possesses, or has valid and enforceable rights to use, license, and exploit all Intellectual Property used in, necessary
or advisable for the conduct of the Company’s and its Subsidiaries’ business as currently conducted and as described
in the Super 8-K, except for a failure to own, possess or have such rights that would not reasonably be expected to result in a
Material Adverse Effect. There are no unreleased liens or security interests which have been filed, or which the Company has received
notice of, against any of the Intellectual Property owned by the
Company. All Intellectual Property owned by the Company or its Subsidiaries, and all Contracts pursuant to which the Company or
its Subsidiaries license Intellectual Property, are valid and enforceable, and the Company and its Subsidiaries are in full compliance
with all such Contracts except as would not reasonably be expected to result in a Material Adverse Effect. Furthermore, except
as has not been and would not reasonably be expected to result
in a Material Adverse Effect, since the Lookback Date: (A) to the
Company’s knowledge, there has been no infringement, misappropriation or violation by third parties of any such Intellectual
Property of the Company or its Subsidiaries; (B) there has been no Action pending or threatened in writing (or to the Company’s
knowledge, threatened orally) by others challenging the Company’s or any of its Subsidiaries’ ownership of or any rights
in or to any such Intellectual Property; (C) the Intellectual Property owned by the Company and its Subsidiaries and, to the
Company’s knowledge, the Intellectual Property licensed to the Company and its Subsidiaries, has not been adjudged invalid
or unenforceable, in whole or in part, and there has been no Action pending or threatened in writing (or to the Company’s
knowledge, threatened orally) by others challenging the validity, enforceability or scope of any such Intellectual Property; (D) there
has been no Action pending or threatened in writing (or to the Company’s knowledge, threatened orally) by others that the
Company or any of its Subsidiaries infringes, misappropriates or otherwise violates any Intellectual Property or other proprietary
rights of others, and neither the Company nor any of its Subsidiaries has received any written notice of such Action; and (E) to
the Company’s knowledge, no employee of the Company or any of its Subsidiaries has violated any term of any employment Contract,
patent disclosure agreement, invention assignment agreement, non-competition agreement, non-solicitation agreement,
nondisclosure agreement or any restrictive covenant to or with a former employer where the basis of such violation relates to such
employee’s employment with the Company or any of its Subsidiaries or actions undertaken by the employee while employed with
the Company or any of its Subsidiaries. The Company and its Subsidiaries have complied in all material respects with 37 C.F.R.
Section 1.56. The consummation of the transactions contemplated hereby or by the other Transaction Documents will not result in
the loss or impairment of or payment of any additional amounts with respect to, nor require the consent of any other person in
respect of, the Company or any of its Subsidiaries’ right to own, use or hold for use any Intellectual Property as owned,
used or held for use in the conduct of the Company’s and its Subsidiaries’ business as currently conducted and as described
in the Super 8-K, except as would not reasonably be expected to be material to the business of the Company and its Subsidiaries,
taken as a whole. The rights of the Company and each of its Subsidiaries in their Intellectual Property are valid, subsisting and
enforceable, except as would not reasonably be expected to be material to the business of the Company and its Subsidiaries, taken
as a whole. The Company and each of its Subsidiaries has taken reasonable steps to maintain their Intellectual Property and to
protect and preserve the confidentiality of all of their Trade Secrets. To the Company’s knowledge, there has not been any
disclosure or access to any Trade Secrets of the Company and each of its Subsidiaries by any unauthorized person. The Company and
each of its Subsidiaries have taken and continue to take commercially reasonable measures, at least consistent with prevailing
industry practice, to ensure that all personal information in their possession, custody or control is protected against loss and
against unauthorized, access, use, modification, disclosure or other misuse. “Intellectual Property”
shall mean any and all rights title and interest in, arising out of, or associated with any intellectual or intangible property,
whether protected, created or arising in any jurisdiction throughout the world, including the following: (a) issued patents and
patent applications (whether provisional or non-provisional), including divisionals, continuations, continuations-in-part, substitutions,
reissues, reexaminations, extensions, or restorations of any of the foregoing, and other Governmental Authority (as defined below)
issued indicia of invention ownership (including certificates of invention, petty patents, and patent utility models) (“Patents”);
(b) trademarks, service marks, brands, certification marks, logos, trade dress, slogans, trade names, and other similar indicia
of source or origin, together with the goodwill connected with the use of and symbolized by, and all registrations, applications
for registration, and renewals of, any of the foregoing (“Trademarks”); (c) copyrights and works of authorship,
whether or not copyrightable, and all registrations, applications for registration, and renewals of any of the foregoing (“Copyrights”);
(d) internet domain names and social media account or user names (including “handles”), whether or not
Trademarks, all associated web addresses, URLs, websites and web pages, social media sites and pages, and all content and data
thereon or relating thereto, whether or not Copyrights; (e) mask works, and all registrations, applications for registration, and
renewals thereof; (f) industrial designs, and all Patents, registrations, applications for registration, and renewals thereof;
(g) trade secrets, know-how, inventions (whether or not patentable), discoveries, improvements, technology, business and technical
information, databases, data compilations and collections, tools, methods, processes, techniques, and other confidential and proprietary
information and all rights therein (“Trade Secrets”); (h) computer programs, operating systems, applications,
firmware and other code, including all source code, object code, application programming interfaces, data files, databases, protocols,
specifications, and other documentation thereof; (i) rights of publicity; and (j) all other intellectual or industrial property
and proprietary rights.

 

    9 

     

    

 

(l) Environmental
Laws.

 

(i) Except
as would not reasonably be expected to be material to the business of the Company and its Subsidiaries, taken as a whole: (x) the
Company and each Subsidiary is in compliance and has complied with all applicable Environmental Laws (as defined below); (y) the
Company or its applicable Subsidiary is in possession of all Authorizations required pursuant to Environmental Laws to conduct
their respective businesses as currently conducted and as described in the Super 8-K and (z) the Company or its applicable Subsidiary
is in material compliance with all terms and conditions of such Authorizations. There is no Action pending or threatened in writing
(or to the Company’s knowledge, threatened orally) relating to any violation or noncompliance with any Environmental Law
involving the Company or any Subsidiary. For purposes of this Agreement, “Environmental Law” means any
national, state, provincial or local Law, statute, rule or regulation or the common law relating to the environment or occupational
health and safety, including without limitation any statute, regulation, administrative decision or order pertaining to (A) treatment,
storage, disposal, generation and transportation of Hazardous Substances; (B) air, water and noise pollution; (C) groundwater
and soil contamination; (D) the release or threatened release into the environment of industrial, toxic or hazardous materials
or substances, or solid or hazardous waste, including without limitation emissions, discharges, injections, spills, escapes or
dumping of pollutants, contaminants or chemicals; (E) the protection of wild life, marine life and wetlands, including without
limitation all endangered and threatened species; (F) storage tanks, vessels, containers, abandoned or discarded barrels,
and other closed receptacles; (G) health and safety of employees and other persons; and (H) manufacturing, processing,
using, distributing, treating, storing, disposing, transporting or handling of Hazardous Substances. As used above, the terms “release”
and “environment” shall have the meaning set forth in the Comprehensive Environmental Response, Compensation and Liability
Act of 1980, as amended.

 

(ii) None
of the Company or any of its Subsidiaries has any liability or obligation under any Environmental Law with respect to any release,
spill, emission, leaking, pumping, pouring, emptying, leaching, escaping, dumping, injection, deposit, discharge or disposing of
any Hazardous Substance in, onto or through the environment, except as would not reasonably be expected to have a Material Adverse
Effect. “Hazardous Substances” means all materials, wastes, or substances defined by, or regulated under,
any Environmental Laws, including as a hazardous waste, hazardous material, hazardous substance, extremely hazardous waste, restricted
hazardous waste, contaminant, pollutant, toxic waste, or toxic substance, and specifically including petroleum and petroleum products,
asbestos, radon, lead, toxic mold, radioactive materials, and polychlorinated biphenyls.

 

    10 

     

    

 

(m) Authorizations;
Regulatory Compliance. The Company and each of its Subsidiaries holds, and is operating in compliance with, all authorizations,
licenses, permits, approvals, clearances, registrations, exemptions, consents, certificates, waivers, filings, qualifications and
orders of the U.S. Food and Drug Administration (“FDA”),
its foreign counterparts and any other entity or body exercising executive, legislative, judicial, regulatory or administrative
functions of or pertaining to United States federal, state or local government or foreign, international, multinational or other
governmental, including any department, commission, board, agency, bureau, official or other regulatory, administrative or judicial
or arbitral authority thereto (including attorneys general, tribunals, bureaus and quasi-governmental entities) (each a “Governmental
Authority”) and supplements and amendments thereto (collectively, “Authorizations”)
required for the conduct of its business as currently conducted and as described in the Super 8-K,
or that are otherwise material to the business of the Company and its Subsidiaries, in all applicable jurisdictions, except
as would not reasonably be expected to be material to the business of the Company and its Subsidiaries, taken as a whole. All Authorizations
held by the Company or its Subsidiaries are valid and in full force and effect. Neither the Company nor any of its Subsidiaries
is in material violation of any terms of any such Authorizations; and neither the Company nor any of its Subsidiaries has received
written notice from any Governmental Authority of any revocation or modification of any such Authorization, or written notice (or
to the Company’s knowledge, oral notice) that such revocation or modification is being considered, except to the extent that
any such revocation or modification would not be reasonably expected to be material to the business of the Company and its Subsidiaries,
taken as a whole. The Company and each of its Subsidiaries is in compliance, and has since the Lookback Date been in compliance,
with all applicable federal, state, local and foreign Laws, including such Laws applicable to the manufacture, distribution, import
and export of regulated products and component parts and ingredients, except as would not reasonably be expected to be material
to the business of the Company and its Subsidiaries, taken as a whole. Neither the Company nor any of its Subsidiaries has received
any Form FDA 483, warning letter, untitled letter or other correspondence or written notice from any Governmental Authority, alleging
or asserting noncompliance with the Federal Food, Drug, and Cosmetic Act (21 U.S.C. § 301 et seq.) (“FDCA”)
or comparable foreign Laws. Neither the Company nor any of its Subsidiaries has been notified, either orally or in writing, by
any Governmental Authority that a clinical study has been put on hold or may be put on hold. The Company and each of its Subsidiaries,
and to the Company’s knowledge, each of their respective directors, officers, employees and agents, is and has been in material
compliance with applicable health care Laws, including, to the extent applicable, without limitation, the FDCA, the federal Anti-Kickback
Statute (42 U.S.C. § 1320a-7b(b)), the Health Insurance Portability and Accountability Act of 1996 (42 U.S.C. §
1320d et seq.), as amended by the Health Information Technology for Economic and Clinical Health Act of 2009 (42 U.S.C. §
17921 et seq.), and the regulations promulgated pursuant to such Laws, and comparable state Laws and foreign Laws (collectively,
“Health Care Laws”). Neither the Company nor any of its Subsidiaries has received written notice (or
to the Company’s knowledge, oral notice) of any ongoing claim, action, suit, proceeding, hearing, enforcement, investigation,
arbitration or other action from any Governmental Authority or third party alleging that any product operation or activity is in
material violation of any Health Care Laws or any Authorizations. The Company and each of its Subsidiaries has filed, obtained,
maintained or submitted all material reports, documents, forms, notices, applications, records, claims, submissions and supplements
or amendments thereto as required by any Health Care Laws or any Authorizations and all such reports, documents, forms, notices,
applications, records, claims, submissions and supplements or amendments were complete, correct and not misleading on the date
filed in all material respects (or were corrected or supplemented by a subsequent submission). Neither the Company nor any of its
Subsidiaries has, either voluntarily or involuntarily, initiated, conducted, or issued or caused to be initiated, conducted or
issued, any other notice or action relating to any alleged product defect or violation and, to the Company’s knowledge, no
third party has initiated or conducted any such notice or action relating to any of the Company’s products in development.
Neither the Company nor any of its Subsidiaries is a party to any corporate integrity agreement, deferred prosecution agreement,
monitoring agreement, consent decree, settlement order, or similar agreements, or has any reporting obligations pursuant to any
such agreement, plan or correction or other remedial measure entered into with any Governmental Authority.

 

(n) Title.
Neither the Company nor any of its Subsidiaries owns any real property. Except as set forth on Schedule 3n,
each of the Company and its Subsidiaries has good and marketable title to all of its personal property and other tangible assets
(i) purportedly owned or used by them as reflected in the SEC Reports,
as of their respective dates, or (ii) necessary for the conduct of their business as currently conducted
and as described in the Super 8-K, free and clear of any legal or equitable, specific or floating, lien (statutory or otherwise),
restriction, mortgage, deed of trust, pledge, lien, security interest, restrictive covenant, or other adverse right, charge, claim
or encumbrance of any kind or nature whatsoever (collectively, “Liens”),
except for Liens which would not reasonably be expected to have a Material Adverse Effect. Except as set forth on Schedule
3n, with respect to properties and assets it leases, each of the Company and its Subsidiaries is in compliance with such
leases and holds a valid leasehold interest free of any Liens, except
for such Liens which would not reasonably be expected to have a Material Adverse Effect.

 

    11 

     

    

 

(o) Tax
Status. The Company and each Subsidiary has timely made and filed (taking into account any valid extensions) all federal and
state income and all other material returns, declarations, reports, elections, designations, or information returns or statements
relating to Taxes, including any schedules or attachments thereto and any amendments thereof (collectively, “Tax Returns”)
required to be made or filed by it or with respect to it by any jurisdiction to which it is subject. Such Tax Returns accurately
reflect, in all material respects, the Tax liabilities of the Company and its Subsidiaries (other than Taxes not yet due and payable).
The Company and each Subsidiary has timely paid all income Taxes and all other material Taxes and other material governmental assessments
and material charges, shown or determined to be due on such returns, reports and declarations, except those being contested in
good faith and for which the Company and its Subsidiaries have adequately reserved and accrued for in accordance with GAAP and
has reserved and accrued on its books provisions in accordance with GAAP that are reasonably adequate for the payment of all material
taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid Taxes in
any material amount claimed to be due from the Company or any Subsidiary by the taxing authority of any jurisdiction, and to the
Company’s knowledge, there is no basis for any such claim. There are no, and since the Lookback Date there have been no,
pending or threatened in writing (or to the Company’s knowledge, threatened orally) Actions by the taxing authority of any
jurisdiction against the Company or any of its Subsidiaries. Neither the Company nor any of its Subsidiaries is a party to, or
otherwise bound by, any Tax indemnity, Tax sharing or Tax allocation agreement (but not including any agreement whose primary subject
matter is not Taxes) (a “Tax Agreement”). The Company is not a “United States real property holding corporation”
within the meaning of Section 897(c) of the Code. For purposes of this Agreement, “Tax” or “Taxes”
means (i) any and all U.S. federal, state, local, or non-U.S. taxes, assessment, levy or other charges, including net or gross
income, gross receipts, net proceeds, estimated, sales, use, ad valorem, value added, franchise, license, withholding, payroll,
employment, excise, property (including both real and personal), unclaimed property remittance/escheat, deed, stamp, alternative
or add-on minimum, occupation, severance, unemployment, social security, workers’ compensation, capital, premium, windfall
profit, environmental, custom duties, fees, transfer and registration taxes, and any governmental charges in the nature of a tax
imposed by a Governmental Authority, (ii) any liability for the payment of any amounts of any of the foregoing types as a result
of being a member of an affiliated, consolidated, combined or unitary group, or being a party to any agreement or arrangement whereby
liability for payment of such amounts was determined or taken into account with reference to the liability of any other person
and (iii) any liability for the payment of any amounts as a result of being a party to any Tax Agreement.

 

(p) Certain
Transactions. None of the direct or indirect equityholders, stockholders, controlling persons, partners, managers, members,
officers, directors, employees, general or limited partners or assignees (each, a “Related Party”) of
the Company or any Subsidiary is presently, or has since the Lookback Date been, a party to any Contract or transaction with the
Company or any Subsidiary (other than for services as employees, officers and directors), including any Contract providing for
the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments
to or from any officer, director or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other
entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.
All transactions that would be required to be disclosed by the Company pursuant to Item 404 of Regulation S-K promulgated
under the Securities Act are disclosed in the SEC Reports (or are disclosed in the Draft Super 8-K and will be disclosed in
the Super 8-K) in accordance with Item 404 of Regulation S-K.

 

    12 

     

    

 

(q) Rights
of First Refusal. Except as set forth on Schedule 3q, the Company is not obligated to offer the securities
offered hereunder on a right of first refusal basis or otherwise to any third parties including, but not limited to, current or
former stockholders of the Company, underwriters, brokers, agents or other third parties.

 

(r) Insurance.
The Company and its Subsidiaries have insurance policies of the type and in amounts customarily carried by organizations conducting
businesses or owning assets similar to those of the Company and its Subsidiaries, and in any event maintain insurance policies
in amounts as required by applicable Law or any Contract to which the Company or its Subsidiaries is a party or to which any of
its assets or businesses is subject. All such insurance policies are in full force and effect and binding and enforceable in accordance
with their terms, and all premiums due and payable thereon have been timely paid in full. Neither the Company nor any of its Subsidiaries
is in default with respect to its obligations under any such insurance policy, nor has there been any failure to give any notice
or present any claim under any such insurance policy in due and timely fashion except as would not, individually or in the aggregate,
reasonably be expected to be material to the business of the Company and its Subsidiaries, taken as a whole. There is no material
claim pending under any such policy as to which coverage has been questioned, denied or disputed by the underwriter of such policy
and there has been no notice of cancellation of nonrenewal of any such insurance policy received by the Company or any of its Subsidiaries.
Since the Lookback Date, no limits on any insurance policy of the Company or any of its Subsidiaries have been exhausted, materially
eroded or materially reduced.

 

(s) SEC
Reports. The Company has timely filed or furnished , as applicable, all reports, proxy statements, schedules, forms, statements,
certifications and other documents (including exhibits and all other information incorporated by reference therein) required to
be filed or furnished by the Company under the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder (the “Exchange Act”) (together with the Super 8-K, the “SEC Reports”)
since the Lookback Date (or such shorter period since the Company was first required by Law or regulation to file such material).
The Draft Super 8-K  will not materially deviate from the Super 8-K as filed with the SEC. The Draft Super 8-K complies,
the Super 8-K when filed will comply, and the other SEC Reports at the time they were filed complied, in all material respects
with the Securities Act or the Exchange Act, as applicable. There are no Contracts that are required to be described in the SEC
Reports and/or to be filed as exhibits thereto that were not described, in all material respects, and/or filed as required. There
has not been any material change or amendment to, or any waiver of any material right under, any such Contract that has not been
described in and/or filed as an exhibit to the SEC Reports. There are
no outstanding or unresolved comments in comment letters received from the SEC staff with respect to the SEC Reports. None of the
SEC Reports is the subject of an ongoing SEC review. There are no SEC inquiries or investigations, other governmental inquiries
or investigations or internal investigations pending or threatened in writing (or, to the Company’s knowledge, threatened
orally), in each case regarding any accounting practice of the Company.

 

    13 

     

    

 

(t) Financial
Statements.

 

(i) (A)
The audited consolidated financial statements of Compass for the
fiscal year ended December 31, 2019, the unaudited interim consolidated
financial statements of Compass for the quarter ended March 31, 2020 and the unaudited pro forma consolidated financial statements
of the Company (after taking into effect the Merger) (including, in each case, the notes thereto) included in the SEC Reports
comply in all material respects with GAAP and the rules and regulations of the SEC with respect thereto as in effect at the time
of filing and (B) true and complete copies of the consolidated audited financial statements of Compass and its Subsidiaries
consisting of the balance sheets of the Company and its Subsidiaries as at December 31, 2017 and December 31, 2018 and
the related statements of income and retained earnings, owners’ equity and cash flow for the years then ended including,
in each case, the notes thereto, have been made available to the Purchaser (the financial statements referenced in the foregoing
clauses (i) and (ii), the “Financial Statements”). The Financial Statements have been prepared in accordance
with U.S. generally accepted accounting principles (“GAAP”) applied on a consistent basis during the
periods involved and include all adjustments (consisting only of normal recurring accruals) that are necessary for a fair presentation
of the consolidated financial condition of the entities or business to which they relate as of the date thereof, subject, in the
case of the unaudited interim consolidated financial statements of Compass
for the quarter ended March 31, 2020, to normal year-end adjustments that will not, individually or in the aggregate, be
material and the absence of notes, and fairly present in all material respects the financial position of Compass and its Subsidiaries
taken as a whole, or the Company and its consolidated Subsidiaries taken as a whole, as applicable, as of and for the dates thereof
and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit
adjustments that will not, individually or in the aggregate, be material. The pro forma financial information and the related notes,
if any, included in the SEC Reports have been properly compiled and prepared in accordance with the applicable requirements of
the Securities Act and fairly present in all material respects the information shown therein, and the assumptions used in the preparation
thereof are reasonable and the adjustments used therein are appropriate to give effect to the transactions and circumstances referred
to therein.

 

(ii) The
Company (A) maintains a standard system of accounting established and administered in accordance with GAAP and (B) has established
and maintains a system of internal controls over financial reporting designed to provide reasonable assurance regarding the reliability
of the financial reporting and the preparation of the Financial Statements for external purposes in accordance with GAAP. There
(x) are no significant deficiencies or weaknesses in any system of internal accounting controls used by each of the Company’s
Subsidiaries, (y) has not since the Lookback Date been any fraud or other unlawful act on the part of any of management or other
employees of the Company and each of its Subsidiaries who have a role in the preparation of Financial Statements or the internal
accounting controls used by the Company and each of its Subsidiaries related to such preparation or controls and (z) has not since
the Lookback Date been any claim or allegation regarding any of the foregoing.

 

(iii) Neither
the Company nor any of its Subsidiaries has any liabilities (whether accrued, absolute, contingent or otherwise) other than (A)
liabilities disclosed on the audited balance sheet (including the notes thereto) or the interim balance sheet (including the notes
thereto) and (B) liabilities that have been incurred since the
date of the latest balance sheet of the Company and the latest balance sheet of Compass included in the Financial Statements in
the ordinary course of business, which liabilities, individually or in the aggregate, are not material to the business of the Company
and its Subsidiaries (taken as a whole).

 

    14 

     

    

 

(u) Material
Changes.  Except for the transactions
contemplated hereby or in the Merger Agreement, since the date of the latest balance sheet of the Company and the latest
balance sheet of Compass included in the financial statements contained within the SEC Reports, except as set forth on Schedule
3(u), (i) there have been no events, occurrences or developments that have had or would reasonably be expected to
have a Material Adverse Effect with respect to the Company or Compass, (ii) there have not been any changes in the assets,
financial condition, business or operations of the Company or Compass from that reflected in the financial statements contained
within the SEC Reports except changes in the ordinary course of business which have not been, either individually or in the aggregate,
materially adverse to the business, properties, financial condition, results of operations or future prospects of the Company or
Compass, (iii) none of the Company or Compass or any of their respective Subsidiaries has altered its method of accounting or the
manner in which it keeps its accounting books and records, and (iv) none of the Company or Compass or any of their respective
Subsidiaries has declared or made any dividend or distribution of cash or other property to its stockholders or equityholders or
purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock (other than in connection with
repurchases of unvested stock issued to employees of the Company). The
Company and its Subsidiaries, individually and on a consolidated basis, are not as of the date hereof, and after giving effect
to the transactions contemplated hereby to occur at the Initial Closing, will not be Insolvent (as defined below). “Insolvent”
means, with respect to the Company, on a consolidated basis with its Subsidiaries, (i) the present fair saleable value of the Company’s
and its Subsidiaries’ assets is less than the amount required to pay the Company’s and its Subsidiaries’ total
indebtedness, (ii) the Company and its Subsidiaries are unable to pay their debts and liabilities, subordinated, contingent or
otherwise, as such debts and liabilities become absolute and matured or (iii) the Company and its Subsidiaries intend to incur
or believe that they will incur debts that would be beyond their ability to pay as such debts mature.

 

(v) Disclosure
Controls. The Company has established and maintains disclosure controls and procedures (as defined in Rules 13a-14 and 15d-15 under
the Exchange Act) and such controls and procedures are effective in ensuring that material information relating to the Company,
including its Subsidiaries, is made known to the principal executive officer and the principal financial officer.

 

(w) Sarbanes-Oxley.
The Company is, and has been since the Lookback Date, to the extent applicable, in compliance in all material respects with all
of the provisions of the Sarbanes-Oxley Act of 2002 which are applicable to it.

 

(x) Off-Balance Sheet
Arrangements. There is no transaction, arrangement, or other relationship between the Company or any Subsidiary and an unconsolidated
or other off-balance sheet entity that is required to be disclosed by the Company in its SEC Reports (including, for
purposes hereof, any that are required to be disclosed in a Form 10) and is not so disclosed.

 

(y) Foreign
Corrupt Practices. Neither the Company and its Subsidiaries, nor any of their respective directors, managers, officers, agents
or employees or other person acting on behalf of the Company or its Subsidiaries, has: (i) directly or indirectly, used any
funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity,
(ii) made any unlawful payment or offered anything of value to foreign or domestic government officials or employees or to
any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution
made by the Company or any of its Subsidiaries (or, to the Company’s knowledge, made by any person acting on their behalf)
which is in violation of Law or (iv) violated any applicable anti-terrorism Law or regulation, nor have any of them otherwise taken
any action which would reasonably cause the Company or any of its Subsidiaries to be in violation of the Foreign Corrupt Practices
Act of 1977, as amended, the UK Bribery Act of 2010, as amended, or any applicable Law of similar effect.

 

    15 

     

    

 

(z) Office
of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director, manager,
officer, agent, employee or Affiliate of the Company or any Subsidiary is, or is acting under the direction of, on behalf of or
for the benefit of a person that is, or is owned or controlled by a person that is, currently subject to any U.S. sanctions administered
by the Office of Foreign Assets Control of the U.S. Treasury Department.

 

(aa)Money
Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with
applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970,
as amended, applicable money laundering Laws and applicable rules and regulations thereunder (collectively, the “Money
Laundering Laws”), and no Action by or before any Governmental Authority involving the Company or any Subsidiary
with respect to the Money Laundering Laws is pending or threatened in writing (or to the Company’s knowledge, threatened
orally).

 

(bb)Regulation
M Compliance. The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or indirectly,
any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate
the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or paid any compensation for soliciting purchases of,
any of the Securities, or (iii) paid or agreed to pay to any person any
compensation for soliciting another to purchase any other securities of the Company, other than, in the case of clauses (ii) and
(iii), compensation paid to the Company’s placement agent in connection with the placement of the Securities.

 

(cc)Privacy
and Data Security.

 

(i) “Business
Privacy and Data Security Policies” means all of the Company’s or one of its Subsidiaries’ present, internal
or public-facing policies, notices, and statements concerning the privacy, security, or Processing of Personal Information in the
conduct of the Business. “Personal Information” means any information that identifies or, alone or in
combination with any other information, could reasonably be used to identify, locate, or contact a natural person, including name,
street address, telephone number, email address, identification number issued by a Governmental Authority, credit card number,
bank information, customer or account number, online identifier, device identifier, IP address, browsing history, search history,
or other website, application, or online activity or usage data, location data, biometric data, medical or health information,
or any other information that is considered “personally identifiable information,” “personal information,”
or “personal data” under applicable Law, and all data associated with any of the foregoing that are or could reasonably
be used to develop a profile or record of the activities of a natural person across multiple websites or online services, to predict
or infer the preferences, interests, or other characteristics of a natural person, or to target advertisements or other content
to a natural person. “Privacy Laws” means all applicable Laws, orders, writs, judgments, injunctions,
decrees, stipulations, determinations or awards entered by or with any Governmental Authority, and binding guidance issued by any
Governmental Authority concerning the privacy, security, or Processing of Personal Information (including Laws of jurisdictions
where Personal Information was collected), including, as applicable, data breach notification Laws, consumer protection Laws, Laws
concerning requirements for website and mobile application privacy policies and practices, Social Security number protection Laws,
data security Laws, and Laws concerning email, text message, or telephone communications. Without limiting the foregoing, Privacy
Laws include the Health Insurance Portability and Accountability Act of 1996, as amended and supplemented by the Health Information
Technology for Economic and Clinical Health Act of the American Recovery and Reinvestment Act of 2009, the General Data Protection
Regulation (Regulation (EU) 2016/679), and all other similar international, federal, state, provincial, and local Laws. “Processing”
means any operation performed on Personal Information, including the collection, creation, receipt, access, use, handling, compilation,
analysis, monitoring, maintenance, storage, transmission, transfer, protection, disclosure, destruction, or disposal of Personal
Information.

 

    16 

     

    

 

(ii) The
Company and each of its Subsidiaries, and, to the Company’s knowledge, all vendors, processors, or other third parties acting
for or on behalf of the Company or any of its Subsidiaries in connection with the Processing of Personal Information or that otherwise
have been authorized to have access to Personal Information in the possession or control of the Company or any of its Subsidiaries,
comply and at all times since the Lookback Date have complied, with all of the following in the conduct of its business as currently
conducted and as disclosed in the Super 8-K: (A) Privacy Laws; (B) rules of self-regulatory organizations; (C) industry standards,
guidelines, and best practices; (D) the Business Privacy and Data Security Policies; and (E) all obligations or restrictions concerning
the privacy, security, or Processing of Personal Information under any Contract to which the Company or any of its Subsidiaries
is a party or otherwise bound as of the date hereof, in each case, except for violations that, individually or in the aggregate,
have not been and would not reasonably be expected to be material to the business of the Company and its Subsidiaries, taken as
a whole.

 

(iii) Neither
the consummation of the Merger nor the execution, delivery and performance of this Agreement and the consummation of the transactions
contemplated hereby, does or will: (A) conflict with or result in a violation or breach of any Privacy Laws or Business Privacy
and Data Security Policies (as currently existing or as existing at any time during which any Personal Information was collected
or Processed by or for the Company or any of its Subsidiaries in the conduct of its business as now being conducted); or (B) require
the consent of or notice to any person concerning such person’s Personal Information, in each case, except as has not been
and would not reasonably be expected to have a Material Adverse Effect.

 

(iv) Since
the Lookback Date, (A) no Personal Information in the possession or control of the Company or any of its Subsidiaries, or to the
Company’s knowledge, held or Processed by any vendor, processor, or other third party for or on behalf of the Company or
any of its Subsidiaries, in the conduct of its business has been subject to any data or security breach or unauthorized access,
disclosure, use, loss, denial or loss of use, alteration, destruction, compromise, or Processing (a “Security Incident”),
and (B) neither the Company nor any of its Subsidiaries has notified and, to the Company’s knowledge, there have been no
facts or circumstances that would require the Company or any of its Subsidiaries to notify, any Governmental Authority or other
person of any Security Incident in the conduct of its business, in each case, except as has not been and would not reasonably be
expected to have a Material Adverse Effect.

 

    17 

     

    

 

(v) Since
the Lookback Date, neither the Company nor any of its Subsidiaries has received any notice, request, claim, complaint, correspondence,
or other communication in writing (or to the Company’s knowledge, orally) from any Governmental Authority or other person,
and to the Company’s knowledge there has not been any audit, investigation, enforcement action (including any fines or other
sanctions), or other Action relating to, any actual, alleged, or suspected Security Incident or violation of any Privacy Law involving
Personal Information in the possession or control of the Company or any of its Subsidiaries, or held or Processed by any vendor,
processor, or other third party for or on behalf of the Company or any of its Subsidiaries, in the conduct of its business, in
each case, except as has not been and would not reasonably be expected to be material to the business of the Company and its Subsidiaries,
taken as a whole.

 

(vi) In
the conduct of its business, the Company and each of its Subsidiaries has at all times since the Lookback Date implemented and
maintained, and required all vendors, processors, and other third parties that Process any Personal Information for or on behalf
of the Company or any of its Subsidiaries to implement and maintain, all security measures, plans, procedures, controls, and programs,
including written information security programs, to (A) identify and address internal and external risks to the privacy and security
of Personal Information in their possession or control; (B) implement, monitor, and improve adequate and effective administrative,
technical, and physical safeguards to protect such Personal Information and the operation, integrity, and security of its software,
systems, applications, and websites involved in the Processing of Personal Information; and (C) provide notification in compliance
with applicable Privacy Laws in the case of any Security Incident, in each case, except as has not been and would not reasonably
be expected to be material to the business of the Company and its Subsidiaries, taken as a whole.

 

(dd)Brokers’
Fees. Neither of the Company nor any of its Subsidiaries has any liability or obligation to pay any fees or commissions to
any broker, finder or agent with respect to the transactions contemplated by this Agreement, except for the payment of fees to
the Placement Agents as described in Section  2 above.

 

(ee)Disclosure
Materials. The SEC Reports and the Disclosure Materials, at the time filed or furnished, were (or in the case of the Super
8-K, will be) true and correct in all material respects and did not or will not contain an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading. For the purposes of this Agreement, “Disclosure Materials”
means the Confidential and Non-Binding Summary Term Sheet of the Company previously provided to the Purchaser, and
any roadshow presentation delivered to the Purchaser in connection with the contemplated purchase of the Shares, each as
amended from time to time, relating to the Offering and any supplement or amendment thereto, and any disclosure schedule or other
information document, including the Disclosure Schedule, delivered to the Purchaser prior to its execution of this Agreement, and
any such document delivered to the Purchaser after its execution of this Agreement and prior to the closing of the Purchaser’s
subscription hereunder, including the Draft Super 8-K.

 

    18 

     

    

 

(ff)Investment
Company. The Company is not required to be registered as, and is not an Affiliate of, and immediately following the Closing
will not be required to register as, an “investment company” within the meaning of the Investment Company Act of 1940,
as amended.

 

(gg)Reliance.
The Company acknowledges that the Purchaser is relying on the representations and warranties (as modified by the disclosures on
the Disclosure Schedule or the Draft Super 8- K (excluding any disclosures (whether contained under the heading “Risk
Factors,” in any “forward-looking statements” disclaimer or in any other section) to the extent they are cautionary,
predictive or forward-looking in nature) made by the Company hereunder
and that such representations and warranties (as modified by the Disclosure Schedule or the Draft Super 8-K (excluding
any disclosures (whether contained under the heading “Risk Factors,” in any “forward-looking statements”
disclaimer or in any other section) to the extent they are cautionary, predictive or forward-looking in nature)
are a material inducement to the Purchaser purchasing the Shares. The
Company further acknowledges that without such representations and warranties of the Company made hereunder, the Purchaser would
not enter into this Agreement with the Company.

 

(hh)Bad Actor
Disqualification. No “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) of the Securities Act
(a “Disqualification Event”) is applicable to the Company or, to the Company’s knowledge, any Company
Covered Person, except for a Disqualification Event as to which Rule 506(d)(2)(ii–iv) or (d)(3), is applicable. “Company
Covered Person” means, with respect to the Company as an “issuer” for purposes of Rule 506 promulgated
under the Securities Act, any person listed in the first paragraph of Rule 506(d)(1). The Company represents that it has exercised
reasonable care to determine the accuracy of the representation made by the Company in this paragraph.

 

(ii) Anti-Dilution.
There are no securities or instruments issued by or to which the Company is a party as of the date hereof or as of the Closing
containing anti-dilution or similar provisions that will be triggered by the issuance of shares of Common Stock in connection with
the Offering or pursuant to any other Subscription Agreement entered into in connection with the Offering that have not been or
will not be validly waived on or prior to each Closing Date.

 

(jj)Other
Purchasers. The Company has not entered into any side letter or similar agreement with any Other Purchaser in connection with
such Other Purchaser’s direct or indirect investment in the Company other than the applicable Other Subscription Agreement.
Each Other Purchaser will enter into the applicable Other Subscription Agreement and no other side letters or similar agreements
with respect to its investment in the shares of Common Stock in connection with the Offering. Each Other Subscription Agreement
is in the same form and contains the same terms and provisions as this Agreement.

 

(kk)Leased
Real Property. There are no pending or, to the knowledge of the Company, any threatened condemnation proceedings, lawsuits
or other Actions relating to any real property leased by the Company or any of its Subsidiaries or any of the buildings, structures
and facilities located thereon (the “Leased Real Property”) or other matters affecting adversely the
current use, occupancy or value thereof. The Company and its applicable Subsidiaries enjoy quiet possession under all leases for
each parcel of Leased Real Property (each, a “Lease”) and no Leased Real Property under any such Lease
is subject to any Lien, easement, right-of-way, building or use restriction, exception, variance, reservation or limitation, as
might, in any material respect, interfere with or impair the present and continued use thereof by the Company or its Subsidiaries
in the usual and normal conduct of the business of the Company and its Subsidiaries.

 

    19 

     

    

 

(ll)Material
Contracts.

 

(i) “Material
Contracts” means any written or oral agreement, contract, commitment, arrangement, subcontract, license, sublicense,
lease, sublease, sales order, purchase order, indenture, mortgage, note, bond, letter of credit, warrant, instrument, obligation,
or understanding (collectively, including all amendments, supplements and modifications thereto, “Contracts”)
to which the Company or any of its Subsidiaries is a party or by which any of their respective assets or businesses are bound:

 

(A) that
is a “material contract” (as such term is defined in Item 601(b)(10) of Regulation S-K promulgated under the Securities
Act);

 

(B) that
is a joint venture, alliance, partnership or similar agreement that is material to the operation of the Company and its Subsidiaries,
taken as a whole;

 

(C) that
provides for payments to the Company or any of its Subsidiaries or includes future payment obligations of the Company or its Subsidiaries
outside of the ordinary course of business, in each case, in excess of $250,000 annually;

 

(D) that
creates a Lien on any material asset of the Company or any of its Subsidiaries;

 

(E) that
evidences indebtedness of the Company or any of its Subsidiaries;

 

(F) that
contains an exclusivity clause that restricts the Company or any of its Subsidiaries or a covenant not to compete in any line of
business with any person in any geographical area that restricts the Company or any of its Subsidiaries or that otherwise restricts
the Company or any of its Subsidiaries from freely providing products or services to any customer or potential customer, or that
restricts the right of the Company or any of its Subsidiaries to sell to or purchase from any other person;

 

(G) that
relates to the acquisition or disposition of any business (whether by merger, sale of stock or assets or otherwise) at any time
since the Lookback Date other than those related to the Company’s efforts to seek the acquisition of an operating company
prior to the acquisition of Compass Therapeutics LLC;

 

(H) that
is with any Related Party of the Company or any of its Subsidiaries;

 

(I) that
grants to the counterparty a right of first refusal, first offer or first negotiation outside of the ordinary course of business
of the Company, except for any such preemptive or similar rights in favor of the equityholders of Compass Therapeutics LLC that
will be terminated or extinguished in connection with the Merger;

 

(J) that
grants the other party or any third party “most favored nation” status or any similar rights;

 

    20 

     

    

 

(K) that
is a Lease;

 

(L) other
than in the ordinary course of business, (i) that grants any person a right to use Intellectual Property of the Company or any
of its Subsidiaries or (ii) that grants the Company or any of its Subsidiaries to use the Intellectual Property of another person;

 

(M) that
provides for indemnification to or from any person with respect to liabilities relating to the business of the Company or its Subsidiaries
or any former businesses of the Company or its Subsidiaries or any predecessor thereof; or

 

(N) that
is otherwise material to the business of the Company and its Subsidiaries, taken as a whole.

 

(ii) Each
Material Contract is the legal, valid and binding obligation of the Company or one of its Subsidiaries that is a party thereto,
and is enforceable against the Company or one of its Subsidiaries, as applicable, and, to the knowledge of the Company, the counterparties,
in accordance with its terms, other than, in all cases, Material Contracts that have expired, been terminated or superseded in
accordance with their terms following the date hereof. Neither the Company or any of its Subsidiaries, nor to the knowledge of
the Company, any counterparty, is in violation, breach or default under any such Contract or has improperly terminated, revoked
or accelerated any Material Contract and no event or condition exists or has occurred which, with the giving of notice or the lapse
of time or both, would, under any Material Contract, (A) constitute a breach or default by the Company or any of its Subsidiaries,
or to the knowledge of the Company, a counterparty, (B) give to the counterparty any rights of termination, acceleration or cancellation
of, (C) result in any obligation imposed on the Company or any of its Subsidiaries thereunder or a loss of a benefit in favor of
the Company or any of its Subsidiaries thereunder, (D) allow the imposition of any fees or penalties on the Company or any of its
Subsidiaries thereunder, require the offering or making of any payment or redemption by the Company or any of its Subsidiaries
thereunder or (E) give rise to any increased, guaranteed, accelerated or additional rights or entitlements to the counterparty
thereunder, in each case, except for (i) such breaches, defaults and events which would not reasonably be expected to have a Material
Adverse Effect, and (ii) any Material Contracts that will expire or terminate in accordance with their terms in connection with
or as contemplated by or directly related to the Merger Agreement and the transactions contemplated thereby, including to the extent
applicable, Contracts with the stockholders or investors of the Company or any of its Subsidiaries, indemnification agreements
with each of their respective directors or officers, employment, consulting agreements or equity award agreements with each of
their employees or other service providers. None of the Company or any of its Subsidiaries has received any written notice of the
intention of any person to terminate, fail to renew or materially and adversely modify any Material Contract.

 

    21 

     

    

 

(mm)Employee
Benefits.

 

(i)
“Benefit Plan” means any plan, program, arrangement or agreement that is a pension, profit-sharing, savings,
retirement, employment, consulting, severance pay, termination, executive compensation, incentive compensation, deferred compensation,
bonus, stock purchase, stock option, phantom stock or other equity-based compensation, change-in-control, retention, salary continuation,
vacation, sick leave, disability, death benefit, group insurance, hospitalization, medical, dental, life (including all individual
life insurance policies as to which the Company is the owner, the beneficiary, or both), Code Section 125 “cafeteria”
or “flexible” benefit, employee loan, educational assistance or fringe benefit plan, program, arrangement or agreement,
whether written or oral, including, without limitation, any (A) “employee benefit plan” within the meaning of Section
3(3) of the Employee Retirement Income Security Act of 1974, as amended, and the rules and regulations promulgated thereunder (“ERISA”)
or (B) other employee benefit plans, agreements, programs, policies, arrangements or payroll practices, whether or not subject
to ERISA (including any funding mechanism therefor now in effect or required in the future as a result of the transaction contemplated
by this Agreement or otherwise), which the Company or any of its Subsidiaries sponsors or maintains for the benefit of its current
or former officer, director, employee, leased employee, consultant or agent (or their respective beneficiaries), or with respect
to which the Company or any of its Subsidiaries has, or could reasonably be expected to have, any direct or indirect present or
future liability.

 

(ii) Each
Benefit Plan has been established, maintained and operated in all respects in accordance with its terms and in compliance with
all applicable provisions of applicable Laws, including Section 409A of the Code and the regulations and other guidance issued
thereunder, in each case, except as has not been and would not reasonably be expected to have, a Material Adverse Effect. There
are no investigations by any Governmental Authority, termination proceedings or other claims (except routine claims for benefits
payable under the Benefit Plans) or Actions pending in writing (or to the Company’s knowledge, orally) against any Benefit
Plan or asserting any rights to or claims for benefits under any Benefit Plan that would reasonably be expected to give rise to
any material liability. No non-exempt “prohibited transaction” (within the meaning of Section 406 of ERISA and Section
4975 of the Code) has occurred or is reasonably expected to occur with respect to any Benefit Plan. No Benefit Plan is (A) subject
to Section 412 of the Code, Title IV of ERISA or Section 302 of ERISA (including a “multiemployer” plan within the
meaning of Section 3(37) of ERISA), (B) a “multiple employer plan” as defined in Section 413(c) of the Code, or (C)
a “multiple employer welfare arrangement” within the meaning of Section 3(40) of ERISA. No Benefit Plan is subject
to the Laws of any jurisdiction other than the United States.

 

(iii) Neither
the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby shall, in connection
with any other event(s), (i) result in any payment or benefit becoming due to any current or former employee, contractor or director
of the Company or its Subsidiaries or under any Benefit Plan, (ii) increase any amount of compensation or benefits otherwise payable
to any current or former employee, contractor or director of the Company or its Subsidiaries or under any Benefit Plan, (iii) result
in the acceleration of the time of payment, funding or vesting of any benefits to any current or former employee, contractor or
director of the Company or its Subsidiaries or under any Benefit Plan, (iv) limit the right to merge, amend or terminate any Benefit
Plan (except any limitations imposed by applicable Law, if any), or (v) give rise to any “excess parachute payment”
as defined in Section 280G(b)(l) of the Code, any excise tax owing under Section 4999 of the Code or any other amount that would
not be deductible under Section 280G of the Code.

 

4. Representations,
Warranties and Agreements of the Purchaser. The Purchaser represents and warrants to, and agrees with, the Company,
as of the date hereof and as of the applicable Closing Date, the following:

 

(a) The
Purchaser has the knowledge and experience in financial and business matters necessary to evaluate the merits and risks of its
prospective investment in the Company, and has carefully reviewed and understands the risks of, and other considerations relating
to, the purchase of Shares and the tax consequences of the investment.
The Purchaser has adequate means of providing for its current and anticipated
financial needs and contingencies, and is able to bear the economic risks of the investment for
an indefinite period of time and has no need for liquidity of the investment in the Shares. The
Purchaser can afford the loss of his, her or its entire investment.

 

(b) The
Purchaser is acquiring the Shares for investment for his, her or its own account and not with the view to, or for resale in connection
with, any distribution thereof. The Purchaser understands and acknowledges
that the Offering and sale of the Shares have not been registered under the Securities Act or any state securities Laws, by reason
of a specific exemption from the registration provisions of the Securities Act and applicable state securities Laws, which depends
upon, among other things, the bona fide nature of the investment intent as expressed herein. The
Purchaser further represents that he, she or it does not have any contract, undertaking, agreement or arrangement with any person
to sell, transfer or grant participation to any third person with respect to any of the Shares,
other than with respect to an Affiliate of the Purchaser. The Purchaser understands and acknowledges that the Offering of
the Shares will not be registered under the Securities Act nor under the state securities laws on the ground that the sale of the
Shares to the Purchaser as provided for in this Agreement and the issuance of securities hereunder is exempt from the registration
requirements of the Securities Act and any applicable state securities laws. The
Purchaser is an “accredited investor” as defined in Rule 501 of Regulation D as promulgated by the SEC under the Securities
Act for the reason(s) specified on the Accredited Investor Certification attached hereto as completed by the Purchaser. The
Purchaser resides in the jurisdiction set forth on the Purchaser’s Omnibus Signature Page affixed hereto. If the Purchaser
is, with respect to the Company, (i) a predecessor of the Company; (ii) an affiliated issuer; (iii) a director, executive officer,
other officer participating in the offering, general partner or managing member of the Company; (iii) any beneficial owner of 20%
or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power; (iv) any promoter connected
with the Company in any capacity at the time of such sale; (v) any investment manager of the Company if the Company is a pooled
investment fund; (vi) any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers
in connection with the Offering; (vii) any general partner or managing member of any such investment manager or solicitor; or (viii)
any director, executive officer or other officer participating in the offering of any such investment manager or solicitor or general
partner or managing member of such investment manager or solicitor (each such category, a “Covered Person”),
the Purchaser has not taken any of the actions set forth in, and is not subject to, the disqualification provisions of Rule 506(d)(1)
of the Securities Act.

 

    22 

     

    

 

(c) The
Purchaser (i) if a natural person, represents that he or she is the greater of (A) 21 years of age or (B) the age of
legal majority in his or her jurisdiction of residence, and has full power and authority to execute and deliver this Agreement
and all other related agreements or certificates and to carry out the provisions hereof and thereof; (ii) if a corporation,
partnership, limited liability company, association, joint stock company, trust, unincorporated organization or other entity, represents
that such entity is duly organized, validly existing and in good standing under the Laws of the state or jurisdiction of its organization,
the consummation of the transactions contemplated hereby is authorized by, and will not result in a violation of applicable
Law or its charter or other organizational documents, such entity has full power and authority to execute and deliver this Agreement
and all other related agreements or certificates and to carry out the provisions hereof and thereof and to purchase and hold the
Shares, the execution and delivery of this Agreement has been duly authorized by all necessary action, this Agreement has been
duly executed and delivered on behalf of such entity and is a legal, valid and binding obligation of such entity; or (iii) if
executing this Agreement in a representative or fiduciary capacity, represents that he, she or it has full power and authority
to execute and deliver this Agreement in such capacity and on behalf of the subscribing individual, ward, partnership, trust, estate,
corporation, or limited liability company or partnership, or other entity for whom the Purchaser is executing this Agreement, and
such individual, partnership, ward, trust, estate, corporation, or limited liability company or partnership, or other entity has
full right and power to perform pursuant to this Agreement and make an investment in the Company, and represents that this Agreement
constitutes a legal, valid and binding obligation of such entity. The execution and delivery of this Agreement will not violate
or be in conflict with any order, judgment, injunction, agreement or controlling document to which the Purchaser is a party or
by which it is bound, except for any violation or conflict that, individually or in the aggregate, has not had and would not reasonably
be expected to have a material adverse effect on the ability of the Purchaser to perform its obligations under this Agreement and
the other Transaction Documents or to consummate any transactions contemplated hereby or thereby.

 

(d) The
Purchaser understands that the Shares are being offered and sold to him, her or it in reliance on specific exemptions from the
registration requirements of United States federal and state securities Laws and that the Company is relying in part upon the truth
and accuracy of, and the Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser
to acquire such securities. The Purchaser further acknowledges and understands that the Company is relying on the representations
and warranties made by the Purchaser hereunder and that such representations and warranties are a material inducement to the Company
to sell the Shares to the Purchaser. The Purchaser further acknowledges that without such representations and warranties of the
Purchaser made hereunder, the Company would not enter into this Agreement with the Purchaser.

 

(e) The
Purchaser understands that, other than as expressly provided in
the Registration Rights Agreement, the Company does not currently intend to register the Shares under the Securities Act at any
time in the future; and the undersigned will not immediately be entitled to the benefits of Rule 144 with respect to the Shares.
The Purchaser understands that no public market exists for the Company’s Common Stock and that there can be no assurance
that any public market for the Common Stock will exist or continue to exist. The Company’s Common Stock is not approved for
quotation on OTC Markets or any other quotation system or listed on any exchange.

 

(f) The
Purchaser has received, reviewed and understood the information about the Company, including all Disclosure Materials provided
to it by the Company and/or the Placement Agents (at the Company’s direction), and has had an opportunity to discuss
the Company’s business, management and financial affairs with the Company’s management. The Purchaser understands that
such discussions, as well as any Disclosure Materials provided by the Company and/or
the Placement Agents (at the Company’s direction), were intended to describe the aspects of the Company’s business
and prospects and the Offering which the Company believes to be material, but were not necessarily a thorough or exhaustive description
and except as expressly set forth in this Agreement (as modified by the disclosures on the Disclosure Schedule or the Draft Super 8-K
(excluding any disclosures contained under the heading “Risk Factors,”
any disclosures of risks included in any “forward looking statements” or disclosures
that are cautionary, predictive or forward-looking in nature)),
the Company makes no representation or warranty with respect to the completeness of such information and makes no representation
or warranty of any kind with respect to any information provided by any entity other than the Company. Some of such information
may include projections as to the future performance of the Company, which projections may not be realized, may be based on assumptions
which may not be correct and may be subject to numerous factors beyond the Company’s control. The Purchaser acknowledges
that he, she or it is not relying upon any person or entity, other than the Company and its officers and directors, in making its
investment or decision to invest in the Company.

 

    23 

     

    

 

(g) The
Purchaser acknowledges that none of the Company or the Placement Agents is acting as a financial advisor or fiduciary of the Purchaser
(or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby, and
no investment advice has been given by the Company, the Placement Agents or any of their respective representatives or agents in
connection with the Transaction Documents and the transactions contemplated hereby and thereby.

 

(h) As
of the applicable Closing, all actions on the part of the Purchaser, and its officers, directors and partners, if applicable, necessary
for the authorization, execution and delivery of this Agreement and the Registration Rights Agreement and the performance of all
obligations of the Purchaser hereunder and thereunder shall have been taken, and this Agreement and the Registration Rights Agreement,
assuming due execution by the parties hereto and thereto, constitute valid and legally binding obligations of the Purchaser, enforceable
in accordance with their respective terms, except as such enforceability may be limited by general principles of equity or applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation or similar Laws relating to, or affecting generally, the enforcement
of creditors’ rights and remedies.

 

(i) The
Purchaser (who is not one of the investors in Compass prior to the Merger that held less than twenty-five percent (25%)
of the outstanding LLC units prior to the Merger (“Compass Investors”)), represents that neither it nor,
to its knowledge, any person or entity controlling, controlled by or under common control with it, nor any person having a beneficial
interest in the Purchaser, nor any person on whose behalf the Purchaser is acting: (i) is a person listed in the Annex to
Executive Order No. 13224 (2001) issued by the President of the United States (Executive Order Blocking Property and Prohibiting
Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism); (ii) is named on the List of Specially Designated
Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control; (iii) is a non-U.S. shell
bank or is providing banking services indirectly to a non-U.S. shell bank; (iv) is a senior non-U.S. political
figure or an immediate family member or close associate of such figure; or (v) is otherwise prohibited from investing in the
Company pursuant to applicable U.S. anti-money laundering, anti-terrorist and asset control Laws, regulations, rules or orders
(categories (i) through (v), each a “Prohibited Purchaser”). The Purchaser (A)
agrees to provide the Company, promptly upon request, all information that the Company reasonably deems necessary or appropriate
to comply with applicable U.S. anti-money laundering, anti-terrorist and asset control Laws, regulations, rules and orders and
(B) consents to the disclosure to U.S. regulators and law enforcement authorities by the Company and its Affiliates and
agents of such information about the Purchaser as the Company reasonably deems necessary or appropriate to comply with applicable
U.S. anti-money laundering, anti-terrorist and asset control Laws, regulations, rules and orders. If the Purchaser is a financial
institution that is subject to the USA Patriot Act, the Purchaser represents that it has met all of its obligations under the USA
Patriot Act. The Purchaser acknowledges that if, following its investment in the Company, the Company reasonably believes that
the Purchaser is a Prohibited Purchaser or is otherwise engaged in suspicious activity or refuses to promptly provide information
that the Company requests, the Company has the right or may be obligated to prohibit additional investments, segregate the assets
constituting the investment in accordance with applicable regulations or immediately require the Purchaser to transfer the Shares.
The Purchaser further acknowledges that neither the Purchaser nor any of the Purchaser’s Affiliates or agents will have any
claim against the Company or Compass for any form of damages as a result of any of the foregoing actions.

 

    24 

     

    

 

(j) If
the Purchaser is an Affiliate of a non-U.S. banking institution
(a “Foreign Bank”), or if the Purchaser receives deposits from, makes payments on behalf of, or handles
other financial transactions related to a Foreign Bank, the Purchaser represents and warrants to the Company that: (1) the
Foreign Bank has a fixed address, other than solely an electronic address, in a country in which the Foreign Bank is authorized
to conduct banking activities; (2) the Foreign Bank maintains operating records related to its banking activities; (3) the
Foreign Bank is subject to inspection by the banking authority that licensed the Foreign Bank to conduct banking activities; and
(4) the Foreign Bank does not provide banking services to any other Foreign Bank that does not have a physical presence in
any country and that is not a regulated Affiliate.

 

(k) The
Purchaser or its duly authorized representative realizes that because of the inherently speculative nature of businesses of the
kind conducted and contemplated by the Company, the Company’s financial results may be expected to fluctuate from month to
month and from period to period and will, generally, involve a high degree of financial and market risk that could result in substantial
or, at times, even total losses for investors in securities of the Company. The Purchaser has considered the risk factors in the
Draft Super 8-K before deciding to invest in the Shares.

 

(l) The
Purchaser is not subscribing for Shares as a result of or subsequent to any advertisement, article, notice or other communication,
published in any newspaper, magazine or similar media or broadcast over television, radio, or the internet, or presented at any
seminar or meeting, or any solicitation of a subscription by a person not previously known to the Purchaser in connection with
investments in securities generally.

 

(m) The
Purchaser acknowledges that no U.S. federal or state agency or any other government or governmental agency has passed upon the
Shares or made any finding or determination as to the fairness, suitability or wisdom of any investments therein.

 

(n) Other
than consummating the transactions contemplated hereunder, the Purchaser has not directly or indirectly, nor has any individual
or entity acting on behalf of or pursuant to any understanding with the Purchaser, executed any purchases or sales, including Short
Sales (as defined below), of the securities of the Company during
the period commencing at the time the Purchaser was
first contacted by the Company or any other individual or
entity representing the Company (including one or more of the Placement
Agents) regarding the transactions contemplated hereunder. Notwithstanding the foregoing, in the case of the Purchaser being
a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of the Purchaser’s assets
and the portfolio managers do not communicate or share information with,
and have no direct knowledge of the investment decisions made by,
the portfolio managers managing other portions of the Purchaser’s assets, the representation set forth above shall only apply
with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Shares
covered by this Agreement. Notwithstanding the foregoing, for avoidance of doubt, nothing contained herein shall constitute a representation
or warranty, or preclude any actions, with respect to the identification of the availability of, or securing of, available shares
to borrow in order to effect Short Sales or similar transactions in the future. For purposes of this Agreement, “Short
Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall
not be deemed to include the location and/or reservation of borrowable shares of Common Stock).

 

    25 

     

    

 

(o) The
Purchaser is aware that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of the Shares and
other activities with respect to the Shares by the Purchaser, and will
comply with such anti-manipulation rules of Regulation M.

 

(p) All
of the information concerning the Purchaser set forth herein, and any other information furnished by the Purchaser in writing to
the Company or a Placement Agent for use in connection with the transactions contemplated by this Agreement, is true, correct and
complete in all material respects as of the date of this Agreement, and, if there should be any material change in such information
prior to the Purchaser’s purchase of the Shares, the Purchaser will promptly furnish revised or corrected information to
the Company.

 

(q) The
Purchaser has reviewed with its own tax advisors the U.S. federal, state, local and foreign tax consequences of this investment
and the transactions contemplated by the Transaction Documents. With respect to such matters, the Purchaser relies solely on such
advisors and not on any statements or representations of the Company or any of its agents, written or oral. The Purchaser understands
that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment or the
transactions contemplated by the Transaction Documents.

 

(r) If
the Purchaser is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended),
the Purchaser hereby represents that it has satisfied itself as to the observance in all material respects of the Laws of its jurisdiction
in connection with any invitation to subscribe for the Shares or any use of this Agreement, including (a) the legal requirements
within its jurisdiction for the purchase of the Shares; (b) any foreign exchange restrictions applicable to such purchase;
(c) any governmental or other consents that may need to be obtained; and (d) the income tax and other tax consequences,
if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Shares. The Purchaser’s subscription
and payment for and continued beneficial ownership of the Shares will not violate any applicable securities or other Laws of the
Purchaser’s jurisdiction.

 

(s) The
Purchaser represents that it is not a “foreign person” for purposes of Section 721 of the Defense Production Act of
1950 (as amended) or the rules or regulations promulgated thereunder (including 31 C.F.R. Part 800 and 31 C.F.R. part 801); provided,
however, that if the Purchaser is a “foreign person”
for such purposes, it agrees that it will not (i) obtain any control rights over the Company, including the ability to determine,
direct, or decide important matters affecting the Company; (ii) have access to any material nonpublic technical information in
the possession of the company; (iii) obtain membership or observer rights on the Board of Directors or the right to nominate an
individual to a position on the Board of Directors; or (iv) have any involvement, other than through voting of shares, in substantive
decision making of the Company regarding the use, development, acquisition or release of the Company’s technology.

 

(t) If
the Purchaser is a Covered Person, neither the Purchaser nor, to the Purchaser’s knowledge, any of its directors, executive
officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing
members is subject to any Disqualification Events, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) under
the Securities Act, and disclosed reasonably in advance of the applicable
Closing in writing in reasonable detail to the Company.

 

    26 

     

    

 

(u) The
Purchaser understands that there are substantial restrictions on the transferability of the Shares and that the certificates or
book-entry positions representing the Shares shall bear a restrictive legend in substantially the following form (and a
stop-transfer order may be placed against transfer of such certificates or other instruments):

 

THE SECURITIES REPRESENTED BY
THIS [CERTIFICATE] [BOOK-ENTRY
POSITION] HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED
THEREUNDER (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY
INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH
RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH
REGISTRATION EXISTS OR (3) SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.

 

In addition, if the Purchaser is an Affiliate
of the Company, certificates or book-entry positions evidencing
the Shares issued to the Purchaser may bear a customary “Affiliates” legend.

 

Any fees (with respect to the Company’s
transfer agent (the “Transfer Agent”), counsel or otherwise) associated with the removal of such legend(s) shall be borne
by the Company.

 

The Company shall be obligated to promptly
reissue unlegended certificates upon the request of any holder thereof (x) at such time as the securities evidenced by such
certificates are sold pursuant to Rule 144 or another applicable exemption from the registration requirements of the Securities
Act has been satisfied or (y) at such time as a registration statement is available for the transfer of the Shares. The Company
is entitled to request from any holder requesting unlegended certificates under clause (x) of the foregoing sentence a certificate
of such holder reasonably acceptable to the Company confirming that the securities proposed to be disposed of may lawfully be so
disposed of without registration, qualification or legend.

 

(v) The
Purchaser understands that the Company prior to the Merger was a “shell company” as defined in Rule 12b-2 under
the Exchange Act, and that upon filing with the SEC of the Super 8-K reporting the consummation of the Merger and related
transactions and the transactions contemplated by this Agreement, and otherwise containing “Form 10 information” discussed
below, the Company will reflect therein that it is no longer a shell company. Pursuant to Rule 144(i), securities issued by a current
or former shell company (that is, the Shares) that otherwise meet the holding period and other requirements of Rule 144 nevertheless
cannot be sold in reliance on Rule 144 until one year after the Company (a) is no longer a shell company;
and (b) has filed current “Form 10 information” (as defined in Rule 144(i)) with the SEC reflecting that it is
no longer a shell company, and provided that at the time of a proposed sale pursuant to Rule 144, the Company is subject to the
reporting requirements of Section 13 or 15(d) of the Exchange Act and has filed all reports and other materials required to
be filed by Section 13 or 15(d) of the Exchange Act, as applicable, during the preceding 12 months (or for such shorter period
that the issuer was required to file such reports and materials), other than Form 8-K reports. As a result, the
restrictive legends on certificates or book-entry positions for
the Shares cannot be removed except in connection with an actual sale meeting the foregoing requirements or pursuant to an effective
registration statement.

 

    27 

     

    

 

(w) The
Purchaser, if and to the extent that it purchases Shares in any Subsequent Closing, represents that it (i)(A) has a substantive, pre-existing relationship
with the Company or (B) had direct contact by the Company or a Placement Agent outside of the Offering, and (ii)  did
not contact the Company or a Placement Agent or become interested in the Offering as a result of reading or otherwise being aware
of the Super 8-K or any press release or any other public disclosure disclosing the terms of the Offering.

 

(x) To
effectuate the terms and provisions hereof, the Purchaser hereby appoints Raymond James & Associates, Inc., as its attorney-in-fact
for the purpose of carrying out the provisions of the Escrow Agreement, including, without limitation, taking any action on behalf
of, or at the instruction of, the Purchaser and executing any release notices required under the Escrow Agreement and taking any
action and executing any instrument that Raymond James & Associates, Inc., may deem necessary or advisable (and lawful) to
accomplish the purposes hereof, in each case, subject to and in accordance with the terms of this Agreement. All lawful acts done
under the foregoing authorization are hereby ratified and approved, and neither Raymond James & Associates, Inc., nor any designee
nor agent thereof shall be liable for any acts of commission or omission, for any error of judgment, for any mistake of fact or
law except for acts of fraud, gross negligence or willful misconduct. This power of attorney, being coupled with an interest, is
irrevocable while the Escrow Agreement remains in effect.

 

5. Conditions
to Company’s Obligations at Closing. The Company’s obligation to complete the sale and issuance of the
Shares and deliver the Shares to the Purchaser and to consummate the other transactions contemplated hereby at the Initial Closing
and, if applicable, a Subsequent Closing, shall be subject to the satisfaction or written waiver by the Company (in whole or in
part) of the following conditions, to the extent such condition can be waived, in its sole discretion, on or prior to the Initial
Closing Date and each Subsequent Closing Date, as applicable (provided, that any waiver by the Company of the condition
set forth in Section 5(f) shall require the prior written consent of the Purchaser):

 

(a) Receipt
of Payment. The Company shall have received payment, by certified or other bank check or by wire transfer of immediately available
funds, in the full amount of the Purchase Price for the number of Shares being purchased by the Purchaser at the Initial Closing
and, if applicable, a Subsequent Closing (less the amount of any Transaction Expenses, if applicable).

 

(b) Receipt
of Executed Transaction Documents. The Purchaser shall have executed and delivered to the Company the Omnibus Signature Page,
Accredited Investor Certification, the Investor Profile and, other than the Compass Investors, the Anti-Money Laundering Information
Form and the Selling Securityholder Questionnaire (as defined in the Registration Rights Agreement).

 

    28 

     

    

 

(c) Representations
and Warranties. The representations and warranties made by the Purchaser in Section 4 hereof shall be true and correct
in all respects as of the date of this Agreement and as of such Closing Date with the same force and effect as if they had been
made on and as of such Closing Date (except to the extent any such representation or warranty expressly speaks as of an earlier
date, in which case such representation or warranty shall be true and correct in all respects as of such earlier date), except
for the failure of any such representation or warranty to be so true and correct as would not, individually or in the aggregate,
have a material adverse effect on the ability of the Purchaser to consummate the transactions contemplated hereby.

 

(d) Performance.
The Purchaser shall have performed or complied with in all material respects all obligations and covenants herein required to be
performed by the Purchaser on or prior to the applicable Closing.

 

(e) Effectiveness
of the Merger Transactions. The Merger and each of the other transactions contemplated by the Merger Agreement shall have been
effected and consummated.

 

(f) Minimum
Offering. In connection with the Initial Closing only, the
Company shall have received proceeds from the Offering equal to or greater than the Minimum Offering Amount (inclusive
of the Minimum Insider Investment).

 

(g) Qualifications.
All Authorizations of, or notices to, any Governmental Authority
that are required in connection with the transactions contemplated by this Agreement, including the lawful issuance and sale of
the Shares pursuant to this Agreement at each Closing except for Blue Sky law permits and qualifications that may be properly obtained
after such Closing and filing of a Notice of Exempt Offering of Securities
on Form D with the SEC under Regulation D which may be filed no later than 15 calendar days after the “date of first sale”
in the Offering.

 

6. Conditions
to Purchaser’s Obligations at the applicable Closing. The Purchaser’s obligation to accept delivery of the
Shares and to pay for the Shares to be issued to the Purchaser hereunder at the Initial Closing and, if applicable, a Subsequent
Closing, and to consummate the other transactions contemplated hereby, shall be subject to the satisfaction or written waiver by
the Purchaser (in whole or in part) of the following conditions, to the extent such condition can be waived, in its sole discretion,
on or prior to the Initial Closing Date and each Subsequent Closing Date, as applicable:

 

(a) Representations
and Warranties. (i) The representations and warranties made by the Company (as modified by the disclosures on the Disclosure
Schedule or in the Draft Super 8-K (excluding any disclosures (whether contained under the heading “Risk Factors,”
in any “forward-looking statements” disclaimer or in any other section) to the extent they are cautionary, predictive
or forward-looking in nature) set forth in Sections 3(a), 3(a), 3(c), 3(d), 3(e), 3(h), 3(i), and 3(dd) hereof (collectively, the
“Company Fundamental Representations”) shall be true and correct in all respects as of the date of this
Agreement and as of such Closing Date with the same force and effect as if they had been made on and as of such Closing Date (except
to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or
warranty shall be true and correct in all respects as of such earlier date) and (ii) the other representations and warranties made
by the Company in Section 3 shall be true and correct in all material respects (without giving effect to any limitation as
to “materiality” or “Material Adverse Effect” or similar qualifier) as of the date of this Agreement and
as of such Closing Date with the same force and effect as if they had been made on and as of such Closing Date (except to the extent
any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall
be true and correct in all material respects as of such earlier date).

 

    29 

     

    

 

(b) Performance.
The Company shall have performed or complied with in all material respects all obligations and covenants herein required to be
performed by it on or prior to the applicable Closing.

 

(c) Receipt
of Executed Transaction Documents. The Company shall have duly executed and delivered to the Placement Agents on behalf of
the Purchaser the Registration Rights Agreement and the Escrow Agreement.

 

(d) Effectiveness
of the Merger Transactions. The Merger and each of the other transactions contemplated by the Merger Agreement shall have been
effected and consummated.

 

(e) Minimum
Offering. In connection with the Initial Closing only, the
Company shall have received proceeds from the Offering equal to or greater than the Minimum Offering Amount (inclusive
of the Minimum Insider Investment).

 

(f) Equity
Incentive Plan. The Board of Directors and the stockholders of the Company shall have duly adopted the EIP as described in
Recital B above.

 

(g) Certificate.
At each applicable Closing, an executive officer of the Company
shall have duly executed and delivered or caused to be delivered to
the Placement Agents and the Purchaser a certificate addressed to the Purchaser and
the Placement Agents certifying as to the satisfaction of the conditions set forth in Section 6(a) and Section
6(b) as of the applicable Closing Date

 

(h) Good
Standing. The Company and each of its Subsidiaries is a corporation or other business entity duly organized, validly existing,
and in good standing under the Laws of the jurisdiction of its formation.

 

(i) Judgments.
No judgment, writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy
court or judge, or any order of or by any Governmental Authority, shall have been issued, and no action or proceeding shall have
been instituted by any Governmental Authority, enjoining or preventing the consummation of the transactions contemplated hereby.

 

(j) Delivery
of Draft Super 8-K and Merger Agreement. The Company shall have delivered to the Purchaser, at least two (2) Business Days
prior to the Initial Closing, (A) the Draft Super 8-K (including all exhibits thereto), including audited and interim
unaudited financial statements of Compass and pro forma financial statements reflecting the Merger, all compliant with applicable
SEC regulations for inclusion under Items 2.01(f) and/or 5.01(a)(8)
of SEC Form 8-K and (B) a substantially complete draft of the Merger Agreement and each other material transaction document
contemplated by or related to the Merger Agreement, including the disclosure schedules thereto, each of which shall be reasonably
acceptable the Purchaser.

 

    30 

     

    

 

(k) Legal
Opinion. Goodwin Procter LLP, legal
counsel for the Company, shall deliver an opinion to the Purchaser and the Placement Agents, dated as of the applicable
Closing Date, in form and substance reasonably acceptable to the Placement Agents and the Purchaser.

 

(l) Compliance
with Laws. The transactions contemplated by this Agreement and the other Transaction Documents, including the sale and issuance
of the Shares, shall be legally permitted by all Laws and regulations
to which the Company is subject or which are otherwise applicable to the transactions contemplated by the Transaction Documents.

 

(m) Qualifications.
All Authorizations of, or notices to, any Governmental Authority
that are required in connection with the transactions contemplated by this Agreement, including the lawful issuance and sale of
the Shares pursuant to this Agreement at each Closing, shall have been delivered or obtained and effective as of such Closing except
for Blue Sky law permits and qualifications that may be properly obtained after such Closing and filing
of a Notice of Exempt Offering of Securities on Form D with the SEC under Regulation D which may be filed no later than 15 calendar
days after the “date of first sale” in the Offering.

 

(n) No
Material Adverse Effect. There shall have been no Material Adverse Effect.

 

(o) Stock
Certificate. At the applicable Closing, to the extent requested by the Purchaser, the Company shall have delivered or caused
to be delivered to the Purchaser one or more stock certificates evidencing the number of Shares set forth on the applicable Purchaser’s
Omnibus Signature Page, duly executed by the proper officers of the Company and registered in the name of the Purchaser or its
designee.

 

 7. Indemnification.

 

(a) In
addition to the indemnity provided to the Purchaser in the applicable Registration Rights Agreement, the Company agrees to indemnify
and hold harmless the Purchaser and its Affiliates, and its and their respective directors, officers, stockholders, equityholders,
members, managers, partners, employees, attorneys, consultants, representatives and agents (and any other persons with a functionally
equivalent role of a person holding such titles notwithstanding a lack of such title or any other title), each person who controls
the Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers,
stockholders, equityholders, members, managers, partners, employees, attorneys, consultants, representatives and agents (and any
other persons with a functionally equivalent role of a person holding such titles notwithstanding a lack of such title or any other
title) of such controlling person (collectively, the “Purchaser Indemnitees”), from and against all losses,
liabilities, claims, damages, costs, fees, charges, Taxes, judgements, fines, penalties and expenses whatsoever (including, but
not limited to, amounts paid in settlement and any and all out-of-pocket expenses, including attorneys’ fees and expenses,
incurred in investigating, preparing or defending against any litigation commenced or threatened) (collectively, “Indemnified
Liabilities”) arising out of or relating to: (i) the inaccuracy, violation or breach of any of the Company’s
representations or warranties made in Section 3 of this Agreement; (ii) any breach or failure to perform by the Company of any
of its covenants and obligations contained herein or (iii) any Action brought or made against such Purchaser Indemnitee by a third
party (including for these purposes a derivative action brought on behalf of the Company) and arising out of, relating to or resulting
from (A) the execution, delivery, performance or enforcement of the Transaction Documents or the Merger Agreement or the transactions
contemplated hereby or thereby, including the issuance of the Shares and the Merger or (B) the status of the Purchaser as an investor
in the Company pursuant to the transactions contemplated hereby or by the other Transaction Documents. To the extent that the foregoing
undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment
and satisfaction of each of the Indemnified Liabilities that is permissible under applicable Law.

 

    31 

     

    

 

(b) The
Company shall have the right to control the investigation and defense of any Action for which a Purchaser Indemnitee may be entitled
to indemnification hereunder with counsel reasonably satisfactory to such Purchaser Indemnitee, at the sole cost and expense of
the Company, upon written notice to the applicable Purchaser Indemnitee; provided, that (i) such notice contains confirmation
that the Company has agreed to indemnify the Purchaser Indemnitee (subject to the limitations on indemnification set forth herein)
for the Indemnified Liabilities arising out of, relating to or resulting from such Action and (ii) the Company shall not be entitled
to assume or control the investigation and defense, if (A) such claim seeks non-monetary, equitable or injunctive relief or alleges
any violation of criminal Law or (B) the Indemnitor is also a party and the Indemnitee determines in good faith after consultation
with counsel that there may be one or more legal defenses available to such Indemnitee that are different or additional to those
available to the Indemnitor. If the Company assumes the investigation and defense of such Action in accordance herewith, the Purchaser
Indemnitee may retain separate co-counsel at its sole cost and expense and participate in the investigation and defense of such
Action.

 

(c) Notwithstanding
anything to the contrary herein, without the prior written consent of the Purchaser Indemnitee, the Company shall not, and shall
not cause or permit any of its Subsidiaries or its or their respective Related Parties to, negotiate, consent to or enter into
any settlement, or consent to the entry of any judgment, with respect to any Action for which such Purchaser Indemnitee may be
entitled to indemnification hereunder, unless such settlement (i) includes an unconditional release of such Purchaser Indemnitee
from all liability arising out of such proceeding, (ii) does not require any admission of wrongdoing by any Purchaser Indemnitee,
and (iii) does not obligate or require any Purchaser Indemnitee to take, or refrain from taking, any action.

 

(d) The
Purchaser acknowledges on behalf of itself and each Purchaser Indemnitee that, other than (i) for Actions seeking specific performance
of the obligations under this Agreement; (ii) if applicable, for Actions to recover any Transaction Expenses or (iii) in the case
of a breach or violation of this Agreement by the Company which has resulted from either (A) intentional fraud or (B) a
deliberate act or failure to act with actual knowledge that the act or failure to act constituted or would result in a breach or
violation, in each case, the sole and exclusive remedy of the Purchaser and the Purchaser Indemnitees with respect to any and all
claims relating to this Agreement shall be pursuant to the indemnification provisions (including the limitations thereof) set forth
in this Section 7.

 

8. Revocability;
Binding Effect. The subscription hereunder may be revoked, in whole or in part, prior to the Initial Closing or any Subsequent
Closing, as applicable, in the sole discretion of the Purchaser, for any reason or no reason, provided that written notice of revocation
is sent and is received by the Company or a Placement Agent at least two (2) Business Days prior to the Initial Closing Date or
the applicable Subsequent Closing Date. The Purchaser hereby acknowledges and agrees that this Agreement shall survive the death
or disability of the Purchaser and shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators,
successors, legal representatives and permitted assigns. For the purposes of this Agreement, “Business Day”
means a day, other than a Saturday or Sunday, on which banks in New York City are open for the general transaction of business.

 

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9. Future
Issuances. If a Purchaser, together with its Affiliates, collectively holds at least 4,000,000 Shares as of the Closing
(taking into account any Subsequent Closing) (each such Purchaser, a “Significant Purchaser”), from and
after the date of the Initial Closing until the date that such Significant Purchaser, together with its Affiliates, ceases to collectively
hold at least 4,000,000 shares of Common Stock issued in the Offering, the Company will not, directly or indirectly, effect any
Subsequent Offering or Debt Financing unless the Company shall have first complied with the applicable terms of this Section 9.

 

(a) Subsequent
Offerings.

 

(i) In
the event the Company intends to issue, sell or grant (a “Subsequent Offering”) any shares of Common
Stock or other equity securities of the Company or any of its Subsidiaries (including any securities that are convertible into,
or exercisable or exchangeable for, Common Stock or other equity interests), but excluding any Excluded Securities (the “New
Securities”) following the date of the Initial Closing, the Company shall deliver to each Significant Purchaser a
written notice (the “Offer Notice”), which Offer Notice shall (A) identify and describe the terms and
provisions of the New Securities, including the price and other terms upon which they are to be issued, sold or exchanged, and
the number or amount of the New Securities proposed to be issued, sold or exchanged and (B) offer to issue and sell to each Significant
Purchaser (or at such Significant Purchaser’s discretion, any of such Significant Purchaser’s Affiliates) a portion
of the New Securities up to such Significant Purchaser’s Pro Rata Share, which offer must remain open until at least the
close of business on the 10th day following the date on which such Significant Purchaser received the Offer Notice (the
“Offer Period”). “Pro Rata Share” means, as of the applicable date of determination,
a percentage calculated by dividing (x) the number of shares of Common Stock held by such Significant Purchaser as of such date
by (y) the total number of shares of Common Stock outstanding as of such date.

 

(ii) To
exercise its rights hereunder, in whole or in part, such Significant Purchaser (or any of its Affiliates) must deliver a written
notice to the Company prior to the end of the Offer Period, setting forth the number of New Securities, up to such Significant
Purchaser’s Pro Rata Share, that such Significant Purchaser elects to purchase (each, a “Notice of Acceptance”).
Notwithstanding anything to the contrary contained herein, if the Company desires to modify or amend any of the terms and conditions
of the offering of the New Securities prior to the expiration of the Offer Period, the Company shall deliver to the Significant
Purchaser a new Offer Notice and the Offer Period shall be extended to at least the close of business on the 10th day
following the date on which such Significant Purchaser received such Offer Notice. If any Significant Purchaser fails to deliver
a Notice of Acceptance prior to the end of the Offer Period, such Significant Purchaser shall be deemed to have waived its rights
hereunder with respect to such Subsequent Offering (and for the avoidance of doubt, such waiver shall not operate as a waiver with
respect to any future Subsequent Offerings). If any Significant Purchaser delivers a Notice of Acceptance, the Company and such
Significant Purchaser shall each consummate the Subsequent Offering for the number or amount of New Securities specified in the
Notices of Acceptance upon the terms and conditions specified in the Offer Notice as promptly as practicable (but in no event later
than 30 days) following the delivery of the Offer Notice. Each of the Company and the Significant Purchasers that have delivered
a Notice of Acceptance shall take all such other actions as may be reasonably necessary to consummate the Subsequent Offering,
including entering into such additional agreements as may be necessary or appropriate.

 

    33 

     

    

 

(iii) The
Company shall have 75 calendar days from the expiration of the Offer Period to offer, issue, sell or exchange, on the terms and
conditions specified in the Offer Notice, all or any portion of the New Securities as to which a Notice of Acceptance has not been
delivered by the Significant Purchasers in accordance with this Section 9(a). Upon the termination of such 75-day period, if the
Company has not consummated the sale of any such New Securities, the Company may not issue, sell or grant any such New Securities
without again complying with the procedures specified in this Section 9(a).

 

(iv) For
purposes of this Agreement, “Excluded Securities” mean shares of Common Stock issued or issuable (A)
to officers, employees, directors, managers or independent contractors of the Company or any of its Subsidiaries pursuant to warrants,
options, notes or other rights to acquire Common Stock issued pursuant to the EIP; (B) as consideration pursuant to any bona fide
merger, business combination, acquisition (whether stock or assets) or sponsored research, technology license, development, manufacturing,
marketing, joint venture, collaboration or other strategic transaction approved by the Board of Directors of the Company (other
than any transaction in which the Company or its Subsidiary is issuing securities for the purpose of raising capital); (C) to the
Company or one of its Subsidiaries or (D) in an underwritten public offering pursuant to a registration statement filed under the
Securities Act.

 

(b) Debt
Financings.

 

(i) In
the event that the Company intends to consummate any financing or other transaction involving indebtedness that is convertible
into any New Securities (a “Debt Financing”), which for the avoidance of doubt would not include any
refinancing or other indebtedness transaction in connection with the certain Loan Agreement, dated as of March 30, 2018, by and
between Compass and Pacific Western Bank, Inc., as amended to date, the Company shall give written notice thereof to the Significant
Purchasers (a “Debt Financing Notice”), which Debt Financing Notice shall (i) set forth the material
terms and conditions of such Debt Financing (the “Debt Financing Terms”) and (ii) offer the Significant
Purchasers the right (but not the obligation) to fund a portion of such Debt Financing up to such Significant Purchaser’s
Pro Rata Share on the Debt Financing Terms, which offer must remain open until at least the close of business on the 10th day following
the date on which the Significant Purchasers receive the Debt Financing Notice (the “Debt Financing Election Period”).

 

(ii) To
exercise its rights hereunder, in whole or in part, such Significant Purchaser (or any of its Affiliates) must deliver a written
notice to the Company prior to the end of the Debt Financing Election Period, advising the Company whether they are exercising
their rights to fund, up to such Significant Purchaser’s Pro Rata Share, a portion of the Debt Financing on the Debt Financing
Terms (the “Debt Financing Exercise Notice”). Notwithstanding anything to the contrary contained herein,
if the Company desires to modify or amend any of the terms and conditions of the Debt Financing prior to the expiration of the
Debt Financing Election Period, the Company shall deliver to the Significant Purchasers a new Debt Financing Notice and the Debt
Financing Election Period shall be extended until at least the close of business on the 10th day following the date
on which such Significant Purchaser receives such new Debt Financing Notice. If any Significant Purchaser fails to deliver a Debt
Financing Exercise Notice prior to the end of the Debt Financing Election Period, such Significant Purchaser shall be deemed to
have waived its rights hereunder with respect to such Debt Financing (and for the avoidance of doubt, such waiver shall not operate
as a waiver with respect to any future Debt Financing).

 

    34 

     

    

 

(iii) If
any Significant Purchaser delivers a Debt Financing Exercise Notice, the Company and such Significant Purchaser shall each consummate
the funding of the Debt Financing on the Debt Financing Terms in the agreed amount as set forth in the Debt Financing Exercise
Notice, as promptly as practicable (but in no event later than 30 days) following the delivery of the Debt Financing Notice. Each
of the Company and the Significant Purchasers that have delivered a Debt Financing Exercise Notice shall take all such other actions
as may be reasonably necessary to consummate the Debt Financing, including entering into such additional agreements as may be necessary
or appropriate.

 

(iv) Solely
to the extent that the Significant Purchasers elect not to exercise their rights to fund all or any portion of the Debt Financing
(any portion of the Debt Financing for which the Significant Purchasers do not make an election to fund, the “Unfunded
Amount”), then one or more other persons shall be permitted to participate in the Debt Financing up to the Unfunded
Amount; provided, that (A) such participation shall be on the Debt Financing Terms and (B) the funding of the Unfunded Portion
shall be consummated no later than 75 days of the date of delivery of the Debt Financing Notice to the Significant Purchasers.
If such funding is not consummated within such 75-day period, then the Company shall be required to deliver to the Significant
Purchasers a new Debt Financing Notice (and the provisions of this Section 9(b) shall be applied again to such proposed Debt Financing).

 

 10. Miscellaneous.

 

(a) Modification. This
Agreement shall not be amended, modified or waived except by an instrument in writing signed by the Company and the Purchaser.
Any amendment, modification or waiver effected in accordance with this Section 10(a) shall be binding upon the Purchaser and each transferee of the Shares, each future holder of all such Shares, and the
Company, its successors and assigns.

 

(b) Third-Party
Beneficiary. The Placement Agents shall be express third party beneficiaries of the representations and warranties
of the Company and the Purchaser included
in Sections 3 and 4 of this Agreement. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person, except as otherwise
set forth in Section  7 and this Section 10(b).

 

(c) Notices. Any
notice, consents, waivers or other communication required or permitted to be given hereunder shall be in writing and will be deemed
to have been delivered: (i) upon receipt, when personally delivered; (ii) upon receipt when sent by certified mail, return
receipt requested, postage prepaid; (iii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically
or electronically generated and kept on file by the sending party; (iv) when sent, if by e-mail (provided that such sent e-mail is
kept on file (whether electronically or otherwise) by the sending party and the sending party does not receive an automatically
generated message from the recipient’s e- mail server that such e-mail could not be delivered to such
recipient); or (v) one (1) Business Day after deposit with a nationally
recognized overnight courier service with next day delivery specified, in each case, properly addressed to the party to
receive the same. The addresses, facsimile numbers and email addresses for such communications shall be:

 

    35 

     

    

 

		(i)	if to the Company, at

 

Olivia Ventures, Inc. (to be
renamed Compass Therapeutics, Inc.)

2255 Glades Road, Suite 324A

Boca Raton, Florida 33431

Attention: [**]

Email: [**]

 

with copies (which
shall not constitute notice) to:

 

Sichenzia Ross Ference LLP

1185 Avenue of the Americas

New York, NY 10036

Attention: [**]

Facsimile:   [**]

E-mail: [**]

 

and

 

Goodwin Procter LLP

100 Northern Avenue

Boston, MA 02210

Attention: [**]

Email: [**]

or

 

		(ii)	if to the Purchasers, at the address set forth on each such Omnibus Signature Page hereof

 

(or, in either case, to such other address
as the party shall have furnished in writing in accordance with the provisions of this Section).

 

(d) Assignability. This
Agreement and the rights, interests and obligations hereunder are not transferable or assignable by the Purchaser (including, for
the avoidance of doubt, any Significant Purchaser), other than an assignment of the rights, interests and obligations hereunder
in connection with any transfer of the Shares by a Purchaser to a Permitted Assignee (as such term is defined in the Registration
Rights Agreement). For the avoidance of doubt, nothing in this Section 10(d) is intended to, or shall have the effect of, restricting
or otherwise impairing any transfer of the Shares by the Purchaser.

 

(e) Applicable
Law. This Agreement and the other Transaction Documents and the transactions contemplated hereby and thereby shall
be governed by and construed in accordance with the Laws of the State of New York, without reference to the principles thereof
relating to the conflict of Laws. Any litigation based hereon, or arising out of, under or in connection
with, this Agreement or any other Transaction Document or the transactions contemplated hereby or thereby shall be brought and
maintained exclusively in the United States District Court for the Southern District of New York or the circuit court for New York
County, New York. Each party irrevocably consents to the service of process of any of the aforementioned courts in any such suit,
action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, return receipt requested,
to such party’s address set forth in Section 10(c), such service to become effective ten (10) days after such mailing. 

 

    36 

     

    

 

(f) WAIVER
OF JURY TRIAL.   EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR COUNTERCLAIM
(WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT, THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY OR THE ACTIONS OF SUCH PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT
HEREOF.

 

(g) Form
D; Blue Sky Qualification. The Company agrees to timely file a Form D with respect to the Shares
and to provide a copy thereof, promptly upon request of the Purchaser. The Company shall take such action as the Company shall
reasonably determine is necessary in order to obtain an exemption for, or to qualify the Shares
for, sale to the Purchaser at such Closing under applicable securities or “Blue Sky” laws of the states of the United
States, and shall provide evidence of such actions promptly upon request of the Purchaser.

 

(h) Use
of Pronouns. All pronouns and any variations thereof used herein shall be deemed to refer to the masculine, feminine,
neuter, singular or plural as the identity of the person or persons referred to may require.

 

(i) Securities
Law Disclosure; Publicity. By 9:00 a.m., New York City time, on the trading day immediately following the Initial
Closing, the Company shall issue a press release (the “Press Release”) disclosing all material terms
of the Offering. The Company will also
file the Super 8-K (and including as exhibits to such Super 8-K, the material Transaction Documents
(including, without limitation, this Agreement and the Registration Rights Agreement))
as soon as practicable following the closing date of the Merger but in no event more than four (4) Business Days following the
closing date of the Merger. Notwithstanding the foregoing, the Company shall not publicly disclose the name of the Purchaser
or an Affiliate of the Purchaser, or include the name of the Purchaser or an Affiliate of the Purchaser in any press release or
filing with the SEC (other than the Registration Statement) or any regulatory agency or principal trading market, without the prior
written consent of the Purchaser, except (i) as required by federal securities Law in connection with (A) any registration
statement contemplated by the Registration Rights Agreement and (B) the filing of final Transaction Documents with the SEC
or (ii) to the extent such disclosure is required by applicable Law, request of the staff of the SEC or of any regulatory
agency or principal trading market regulations, in which case the Company shall provide the Purchaser with prior written notice
of such disclosure permitted under this sub-clause (ii). From and after the filing of the Super 8-K, no Purchaser shall
be in possession of any material, non-public information received from the Company or any of its respective officers,
directors, employees or agents or any other person acting on its behalf in
connection with the Offering that is not disclosed in the Super
8-K unless the Purchaser shall have executed a written agreement with the Company regarding the confidentiality and use
of such information or is otherwise subject to confidentiality restrictions.
The Purchaser, severally and not jointly with the Other Purchasers, covenants that until such time as the transactions contemplated
by this Agreement are publicly disclosed by the Company as described in this Section 10(i),
the Purchaser will maintain the confidentiality of all disclosures made to it in connection with such transactions (including the
existence and terms of such transactions), except to the extent such disclosure (x) is made to the Purchaser Parties in connection
with the transactions contemplated hereby or (y) is required by applicable Law. In
addition, the Purchaser acknowledges that it is aware that United States securities laws may restrict persons
who have material, non-public information about a company from purchasing or selling any securities of such company while in possession
of such information. The provisions of this Section 10(i) are in addition to and not in replacement of any other confidentiality
agreement, if any, between the Company and the Purchaser.

 

    37 

     

    

 

(j) Non-Public Information. Except
for information (including the terms of this Agreement and the transactions contemplated hereby) that will be disclosed in the
Super 8-K and filed with the SEC, the Company shall not and shall cause each of its officers, directors, employees, agents
and other representatives, not to, provide the Purchaser with any material, non-public information regarding the Company
without the express prior written consent of the Purchaser.

 

(k) Entire
Agreement. This Agreement, together with the Registration Rights Agreement and each other Transaction Document, and
all exhibits, schedules and attachments hereto and thereto, including the Disclosure Schedule and any confidentiality agreement
between the Purchaser and the Company, constitute the entire agreement between the Purchaser and the Company with respect to the
Offering and supersede all prior oral or written agreements and understandings, if any, relating to the subject matter hereof.

 

(l) Share
Certificates. If the Shares are certificated and any certificate or instrument evidencing any Shares is mutilated, lost,
stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof,
or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory
to the Company and the Company’s transfer agent of such loss, theft or destruction and the execution by the holder thereof
of a customary lost certificate affidavit of that fact and an agreement to indemnify and hold harmless the Company and its
transfer agent for any losses in connection therewith or, if required by such
transfer agent, a bond in such form and amount as is required by the transfer agent. The applicants for a new certificate or instrument
under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Shares.
If a replacement certificate or instrument evidencing any Shares is requested due to a mutilation thereof, the Company may require
delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.

 

(m) Expenses.
Each of the parties hereto shall pay its own fees and expenses
(including the fees of any attorneys, accountants, appraisers or others engaged by such party) in connection with this Agreement
and the transactions contemplated hereby, whether or not the transactions contemplated hereby are consummated. Without limiting
the foregoing, the Company shall pay all Transfer Agent fees, stamp taxes and other Taxes and duties levied in connection with
the sale and issuance of the Offering, and the Company shall file all necessary Tax Returns and other documentation with respect
to such fees, Taxes and duties, and the Company shall pay all fees and expenses of its counsel in connection with the issuance
of any opinion required by Section 6(k) above and of any opinion to the Transfer Agent for the removal of any legend on the Shares.
Notwithstanding anything herein to the contrary, the Company acknowledges and agrees that it shall pay 100% of the amount of documented
fees and expenses reasonably incurred by the Purchasers that are affiliates of Consonance Capital and their respective advisors,
counsel, accountants and other experts, if any, up to an aggregate of $175,000 (the “Transaction Expenses”).
Notwithstanding anything to the contrary herein, the Company acknowledges and agrees that the amount of the Transaction Expenses
shall be deducted from the aggregate Purchase Price payable hereunder by the Purchasers that are affiliates of Consonance Capital.

 

    38 

     

    

 

(n) Counterparts.
This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original but all of which together shall
constitute one and the same instrument. The exchange of
copies of this Agreement and of signature pages that contain copies of
an executed signature page such as in .pdf format shall constitute effective execution and delivery of this Agreement as
to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile
or by e-mail of a document in .pdf format shall be deemed to be their original signatures for all purposes.

 

(o) Severability.
Each provision of this Agreement shall be considered separable and, if for any reason any provision or provisions hereof
are determined to be invalid or contrary to applicable Law, such invalid
or contrary provision shall be replaced with a valid provision that as closely as possible reflects the parties’ intent with
respect thereto, and invalidity or illegality shall not impair the operation of or affect the remaining portions of this
Agreement.

 

(p) Headings.
Paragraph titles are for descriptive purposes only and shall not control or alter the meaning of this Agreement as set forth
in the text.

 

(q) Multiple
Closings. The Purchaser understands and acknowledges that there may be multiple Closings for the Offering.

 

(r) Additional
Information; Further Assurances. The Purchaser hereby agrees to furnish the Company such other information as the Company
may reasonably request prior to the applicable Closing with respect to its subscription hereunder. Each party hereto shall do and
perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements,
certificates, instruments and documents, as the other party hereto may reasonably request in order to effect the transactions contemplated
hereby and to accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

(s) Survival.
The parties, agree that, if the Closing occurs, (i) the Company Fundamental Representations shall survive the execution
and delivery of this Agreement for a period of three (3) years from the Initial Closing Date and (ii) the other representations
and warranties of the Company and the representations and warranties of the Purchaser contained in this Agreement shall survive
the execution and delivery of this Agreement for a period of one (1) year from the Initial Closing Date and in each case, shall
in no way be affected by any investigation or knowledge of the subject matter thereof made by or on behalf of the Purchaser or
the Company. The covenants and agreements contained in this Agreement (including the covenants and agreements set forth in Section
7 hereof) shall survive the Closing in accordance with their terms or, if no term is specified, such covenants and agreements shall
survive indefinitely. Notwithstanding anything herein to the contrary, in no event shall the Purchaser have any liability to the
Company or to any other person in connection with the Offering other than pursuant to this Agreement.

 

    39 

     

    

 

(t) Omnibus
Signature Page. This Agreement is intended to be read and construed in conjunction with the Registration Rights
Agreement. Accordingly, pursuant to the terms and conditions of this Agreement and the Registration Rights Agreement, it is hereby
agreed that the execution by the Purchaser of this Agreement, in the place set forth on the Omnibus Signature Page below, shall
constitute agreement to be bound by the terms and conditions hereof and the terms and conditions of the Registration Rights Agreement,
with the same effect as if each of such separate but related agreement were separately signed.

 

(u) Public
Disclosure. Neither the Purchaser nor any officer, manager, director, member, partner, stockholder, employee, Affiliate,
Affiliated person or entity of the Purchaser shall make or issue any press releases or otherwise make any public statements or
make any disclosures to any third person or entity with respect to the transactions contemplated herein and will not make or issue
any press releases or otherwise make any public statements of any nature whatsoever with respect to the Company without the Company’s
express prior approval (which may be withheld in the Company’s sole discretion), except to the extent such disclosure is
required by Law, request of the staff of the SEC or of any regulatory agency or principal trading market regulations.

 

(v) Potential
Conflicts. The Placement Agents, their sub-agents, legal counsel to the Company, the Placement Agents
or Compass and/or their respective Affiliates, principals, representatives or employees may now or hereafter own shares of the
Company.

 

(w) Independent
Nature of the Purchaser’s Obligations and Rights. For avoidance of doubt, the obligations of the Purchaser under this
Agreement, the other Transaction Documents and any other agreements delivered in connection herewith are several and not joint
with the obligations of any Other Purchaser in connection with the Offering, and the Purchaser shall not be responsible in any
way for the performance of the obligations of any Other Purchaser in connection with the Offering. Nothing contained herein and
no action taken by the Purchaser shall be deemed to constitute the Purchaser as a partnership, an association, a joint venture,
or any other kind of entity, or create a presumption that the Purchaser is in any way acting in concert or as a group with any
Other Purchaser in connection with the Offering with respect to such obligations or the transactions contemplated by this Agreement
or any other Transaction Document or any Other Subscription Agreement. Except
as specifically set forth herein, the Purchaser shall be entitled to independently protect and enforce its rights, including
without limitation the rights arising out of this Agreement, and it shall not be necessary for any other party to be joined as
an additional party in any proceeding for such purpose.

 

(x) Waiver
of Conflicts. Each party to this Agreement acknowledges that each of Sichenzia Ross Ference LLP, counsel to
the Company prior to the Merger, Goodwin Procter LLP, counsel to
Compass, and the Company post-Merger, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., counsel to the Placement Agents,
may have in the past performed and may continue to or in the future perform legal services for certain of the Purchasers in matters
unrelated to the transactions described in this Agreement, including financings and other matters. Accordingly, each party to this
Agreement hereby (a) acknowledges that they have had an opportunity to ask for information relevant to this disclosure; (b) acknowledges
that Sichenzia Ross Ference LLP, Goodwin Procter LLP and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. represented the Company,
Compass and the Placement Agents, respectively, in the transaction contemplated by this Agreement and has not represented any individual
Purchaser in connection with such transaction; and (c) gives its informed consent to Sichenzia Ross Ference LLP’s, Goodwin
Procter LLP’s and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.’s representation of certain of the Purchasers
in such unrelated matters and to Sichenzia Ross Ference LLP’s, Goodwin Procter LLP’s and Mintz, Levin, Cohn, Ferris,
Glovsky and Popeo, P.C.’s representation of the Company, Compass and the Placement Agents, respectively, in connection with
this Agreement and the transactions contemplated hereby. Further, each party to this Agreement hereby acknowledges that Goodwin
Procter LLP anticipates that it will advise the Company following the Merger.

 

    40 

     

    

 

(y) Adjustments.
In the event of any stock split, subdivision, dividend or distribution payable in shares of Common Stock (or other securities or
rights convertible into, or entitling the holder thereof to receive directly or indirectly shares of Common Stock), combination
or other similar recapitalization or event occurring after the date hereof, each reference in any Transaction Document to a number
of Shares or the Per Share Purchase Price shall be deemed to be amended to appropriately account for such event.

 

(z) Remedies.
The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not
performed by them in accordance with the terms hereof and that each party hereto may be entitled to seek protective orders, injunctive
relief and other remedies available at Law or in equity (including, without limitation, seeking specific performance or rescission
of purchases, sales and other transfers). The parties hereto agree not to raise any objections to the availability of the equitable
remedy of specific performance to prevent or restrain breaches of this Agreement by the Purchaser or the Company, as applicable,
and to specifically enforce the terms and provisions of this Agreement to prevent breaches or threatened breaches of, or to enforce
compliance with, the respective covenants and obligations of the Purchaser and the Company, as applicable, under this Agreement
all in accordance with the terms of this Section 10(z). Neither the Purchaser nor the Company, as applicable, shall be required
to provide any bond or other security in connection with seeking an injunction or injunctions to prevent breaches of this Agreement
and to enforce specifically the terms and provisions of this Agreement, all in accordance with the terms of this Section 10(z).

 

(aa)Recourse.
Notwithstanding anything that may be expressed or implied in this Agreement or in any other Transaction Document, and notwithstanding
the fact that the Purchaser may be partnerships or limited liability companies, the Company hereto covenants, agrees and acknowledges
that no recourse under this Agreement or any Transaction Document shall be had against any the Purchaser’s future, present
or former Affiliates, or the Purchaser’s or its Affiliates’ respective future, present or former officers, directors,
managers, employees, partners, equityholders, controlling persons, members, agents, attorneys, representatives, successors or permitted
assigns (the “Purchaser Parties”) (other than the Purchaser and its successors and Permitted Assignees
under this Agreement), whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any
applicable Law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on
or otherwise be incurred by any of the Purchaser Parties, as such, for any obligation or liability of any party under this Agreement
or any other Transaction Document for any claim based on, in respect of or by reason of such obligations or liabilities or their
creation; provided, however, nothing in this Section 10(aa) shall relieve or otherwise limit the liability of the
Purchaser or any of its successors or Permitted Assignees, for any breach or violation of its obligations under such agreements,
documents or instruments. The liability limitation provision in this Section 10(aa) shall survive termination of this Agreement.

 

(bb)Use of Proceeds.
The Company shall use the net proceeds from the Offering for working capital and other general corporate purposes, including enrolling
additional patients into the CTX-471 Phase 1 clinical trial, initiating manufacturing and toxicology studies for CTX-8371, nominating
a lead candidate from the NKp30 platform, and expanding the senior management team.

 

(cc)More Favorable
Agreement. If the Company enters into a subscription agreement or similar arrangement (or any amendment thereof or waiver thereof)
in respect of the Offering, including any Other Subscription Agreement, with any other person, including any Other Purchaser, that
contains any provision that is more favorable to such other person than the provisions of this Agreement (a “More Favorable
Agreement”), the Company shall promptly provide the Purchaser with notice thereof and a copy of such provision, and
upon such notice, this Agreement shall be deemed to be amended to conform the provisions of this Agreement with such more favorable
provision.

 

[Signature page follows.]

 

    41 

     

    

 

IN WITNESS WHEREOF, the Company has duly
executed this Agreement as of the 19th day of June, 2020.

 

 

	 	OLIVIA VENTURES, INC.  (to be renamed “Compass Therapeutics, Inc.”)
	 	 	 
	 	By:	/s/ Ian Jacobs
	 	Name:  	Ian Jacobs
	 	Title:	Chief Executive Officer
	 	 	 
	 	COMPASS THERAPEUTICS LLC
	 	 	 
	 	By:	/s/ Thomas Schuetz
	 	Name:	Thomas Schuetz
	 	Title:	CEO

 

    42 

     

    

 

How to subscribe for Shares in the private
offering of Olivia Ventures, Inc.

 

		1.	Date and Fill in the number of Shares being purchased and complete and sign the Omnibus
Signature Page.

 

		2.	Initial the Accredited Investor Certification in the appropriate place or places.

 

		3.	Complete and sign the Investor Profile.

 

		4.	Complete and sign the Anti-Money Laundering Information Form.

 

		5.	Complete and sign the Selling Securityholder Questionnaire

 

		6.	Fax or email all forms and then send all signed original documents to:

 

Sichenzia Ross Ference LLP

1185 Avenue of the Americas

New York, NY 10036

Facsimile Number:  [**]

Telephone Number:  [**]

Attn:  [**]

E-mail Address:  [**]

 

		7.	If you are paying the Purchase Price by check, a certified or other bank check for
the exact dollar amount of the Purchase Price for the number of Shares you are purchasing should be made payable to the order of
“Delaware Trust Company, as Escrow Agent for Compass Therapeutics Acct. #79-4161” and should be sent directly
to Delaware Trust Company, 251 Little Falls Drive, Wilmington, Delaware 19808, Wilmington, DE 19808, Attn: [**]

 

Checks take up to 5 business
days to clear. A check must be received by the Escrow Agent at least 6 business days before the closing date.

 

		8.	If you are paying the Purchase Price by wire transfer, you should send a wire transfer
for the exact dollar amount of the Purchase Price for the number of Shares you are purchasing according to the following instructions:

 

	
        Bank:
	[**]
	 	 
	ABA Routing #:	[**]
	 	 
	SWIFT CODE:	[**]
	 	 
	Account Name:	[**]
	 	 
	Account #:	[**]
	 	 
	Reference:	[**]
	 	 
	Delaware Trust Contact:	[**]

 

Thank you for your interest.

 

     

     

    

 

 Olivia Ventures, Inc. (to be renamed “Compass
Therapeutics, Inc.”)

OMNIBUS SIGNATURE PAGE TO

SUBSCRIPTION AGREEMENT AND REGISTRATION
RIGHTS AGREEMENT

 

The undersigned, desiring to: (i) enter
into the Subscription Agreement, dated as of June 19, 2020 (the “Subscription Agreement”), between the
undersigned, Olivia Ventures, Inc. (to be renamed “Compass Therapeutics, Inc.”), a Delaware corporation
(the “Company”), and the other parties thereto, in or substantially in the form furnished to the undersigned,
(ii) enter into the Registration Rights Agreement (the “Registration Rights Agreement”), among the
undersigned, the Company and the other parties thereto, in or substantially in the form furnished to the undersigned, and (iii)
purchase the Shares of the Company’s securities as set forth in the Subscription Agreement and below, hereby agrees to purchase
such Shares from the Company and further agrees to join the Subscription Agreement and the Registration Rights Agreement as a party
thereto, with all the rights and privileges appertaining thereto, and to be bound in all respects by the terms and conditions thereof.
The undersigned specifically acknowledges having read the representations section in the Subscription Agreement entitled “Representations
and Warranties of the Purchaser” and hereby represents that the statements contained therein are complete and accurate with
respect to the undersigned as a Purchaser.

 

IN WITNESS WHEREOF, the Purchaser hereby executes the
Subscription Agreement and the Registration Rights Agreement.

 

Dated:________________, 2020 

	 	×	$5.00	 =	$
	Number of Shares	 	Purchase Price per Share	 	Total Purchase Price

 

	PURCHASER (individual)	 	PURCHASER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	
	 	By:	                       
	 	 	 
	 	 	 
	 	 	 
	Print Name	 	Signature
	 	 	 
	
	 	Print Name:	  
	 	 	 
	 	 	 
	 	 	 
	Signature (if Joint Tenants or Tenants in Common)	 	Title:	 
	 	 	 
	 	 	 
	 	 	 
	Address of Principal Residence:	 	Address of Executive Offices:
	
	 	 
	
	 	 
	
	 	 
	 	 	 
	Social Security Number(s):	 	IRS Tax Identification Number:
	
	 	 
	 	 	 
	Telephone Number:	 	Telephone Number:
	 	 	 
	Facsimile Number:	 	Facsimile Number:
	 	 	 
	E-mail Address:	 	E-mail Address:
	
	 	 

 

		1	Will reflect the
Closing Date. Not to be completed by Subscriber.

 

     

     

    

 

OLIVIA VENTURES, INC. (TO BE RENAMED
“COMPASS THERAPEUTICS, INC.”)

 

ACCREDITED INVESTOR CERTIFICATION

 

For Individual Investors Only

(all Individual Investors must INITIAL where
appropriate):

 

	Initial_______	 	I have a net worth of at least US$1 million either individually or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership interest with my spouse. (For purposes of calculating your net worth under this paragraph, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.)
	 	 
	Initial_______	 	I have had an annual gross income for the past two years of at least US$200,000 (or US$300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach the same level in the current year.
	 	 
	Initial_______	 	I am a director or executive officer of the Compass Therapeutics LLC or Olivia Ventures, Inc.
	 	 
	
          For Non-Individual Investors
(Entities)

	(all Non-Individual Investors must INITIAL where appropriate):
	 	 
	Initial_______	 	The investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual Investors set forth above (in which case each such person must complete the Accreditor Investor Certification for Individuals above as well the remainder of this questionnaire).
	 	 
	Initial_______	 	The investor certifies that it is a partnership, corporation, limited liability company or business trust that has total assets of at least US$5 million and was not formed for the purpose of investing the Company.
	 	 
	Initial_______	 	The investor certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in ERISA § 3(21)) that is a bank, savings and loan association, insurance company or registered investment advisor.
	 	 
	Initial_______	 	The investor certifies that it is an employee benefit plan whose total assets exceed US$5,000,000 as of the date of this Agreement.
	 	 
	Initial_______	 	The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet at least one of the criteria for Individual Investors.
	 	 
	Initial_______	 	The investor certifies that it is a U.S. bank as defined in Section 3(a)(2) of the Securities Act, or any U.S. savings and loan association or other similar U.S. institution as defined in Section 3(a)(5) of the Securities Act acting in its individual or fiduciary capacity.
	 	 
	Initial_______	 	The undersigned certifies that it is a broker-dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934.
	 	 
	Initial_______	 	The investor certifies that it is an organization described in Section 501(c)(3) of the Internal Revenue Code with total assets exceeding US$5,000,000 and not formed for the specific purpose of investing in the Company.
	 	 
	Initial_______	 	The investor certifies that it is a trust with total assets of at least US$5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the prospective investment.
	 	 	 
	Initial_______	 	The investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees, and which has total assets in excess of US$5,000,000.
	 	 
	Initial_______	 	The investor certifies that it is an insurance company as defined in Section 2(13) of the Securities Act of 1933, or a registered investment company.

 

     

     

    

 

OLIVIA VENTURES, INC. (TO BE RENAMED
“COMPASS THERAPEUTICS, INC.”)

 

Investor Profile

(Must be completed by Investor)

 

Section A - Personal Investor Information

 

Investor Name(s): _________________________________________________________________________________

 

Individual executing Profile or Trustee: _________________________________________________________________

 

Social Security Numbers / Federal I.D. Number: ___________________________________________________________

 

	Date of Birth:	 	 	Marital Status:	 
	Joint Party Date of Birth:	 	 	Investment Experience (Years):	 
	Annual Income:	 	 	Liquid Net Worth:	 
	Net Worth*:	 	 	 	 

 

	Tax Bracket:	_____ 15% or below	_____ 25% - 27.5%	_____ Over 27.5%

 

Home Street Address: ______________________________________________________________________________

 

Home City, State & Zip Code: ________________________________________________________________________

 

	Home Phone:	 	 	Home Fax:	 	 	Home Email:	 

 

Employer: _______________________________________________________________________________________

 

Employer Street Address: ___________________________________________________________________________

 

Employer City, State & Zip Code: ______________________________________________________________________

 

	Bus. Phone:	 	 	Bus. Fax:	 	 	Bus. Email:	 

 

Nature of Business (type of sector or industry):________________________
Title/Position:________________________

 

Outside Broker/Dealer: _____________________________________________________________________________

 

Section B – Certificate Delivery
Instructions

 

____ Please deliver certificate to the Employer Address
listed in Section A.

____ Please deliver certificate to the Home Address
listed in Section A.

____ Please deliver certificate to the following
address: ________________________________________________

 

Section C – Form
of Payment – Check or Wire Transfer

 

____ Check
payable to Delaware Trust Company, as Escrow Agent for Compass Therapeutics Acct #79-4161

____ Wire funds from my outside account
according to instructions of the Subscription Agreement.

____ The funds for this investment are
rolled over, tax deferred from __________ within the allowed 60 day window.

Please check if you are a FINRA member
or affiliate of a FINRA member firm: _________________________________

 

		 		 
	Investor Signature	 	Date	 

 

		*	For purposes of calculating your net worth in this
form, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence,
up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included
as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds
the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount
of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of
the estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as
a liability.

 

     

     

    

 

ANTI MONEY LAUNDERING REQUIREMENTS

 

The USA PATRIOT Act

 

The USA PATRIOT Act is designed to detect,
deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage
firms and financial institutions. Since April 24, 2002 all brokerage firms have been required to have new, comprehensive anti-money
laundering programs.

 

To help you understand these efforts, we
want to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.

 

What is money laundering?

 

Money laundering is the process of disguising
illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection
with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.

 

How big is the problem and why is it
important?

 

The use of the U.S. financial system by
criminals to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department,
one recent estimate puts the amount of worldwide money laundering activity at $1 trillion a year.

 

What are we required to do to eliminate
money laundering?

 

Under rules required by the USA PATRIOT
Act, our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent
audits, and establish policies and procedures to detect and report suspicious transaction and ensure compliance with such laws.
As part of our required program, we may ask you to provide various identification documents or other information. Until you provide
the information or documents we need, we may not be able to effect any transactions for you.

 

     

     

    

 

ANTI-MONEY LAUNDERING INFORMATION FORM

The following is required in accordance
with the AML provision of the USA PATRIOT ACT.

(Please fill out and return with requested
documentation.)

 

INVESTOR NAME:________________________________________________________________

 

LEGAL ADDRESS:________________________________________________________________

 

SSN# or TAX ID#

OF INVESTOR:________________________________________________________________

 

YEARLY INCOME:  _____________________________________________________________________

 

NET WORTH:  _________________________________________________________________________*

 

* For purposes of calculating your net
worth in this form, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary
residence, up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall
not be included as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the
securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence,
the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in
excess of the estimated fair market value of your primary residence at the time of your purchase of the securities shall be included
as a liability.

 

INVESTMENT OBJECTIVE(S) FOR ALL INVESTORS:  __________________________

 

ADDRESS OF BUSINESS OR OF EMPLOYER:_____________________________________________

 

                                                                                       _____________________________________ 

 

FOR INVESTORS WHO ARE INDIVIDUALS:
AGE:  _____________________________

 

FOR INVESTORS WHO ARE INDIVIDUALS:
OCCUPATION: _____________________________________

 

FOR INVESTORS WHO ARE ENTITIES:
Business Sector/Industry): ____________________________________

 

BANK SECRECY ACT (BSA) REQUIREMENT

 

Identify and complete for each of the 25% or more beneficial
owner(s) of the entity as defined below:1

 

Name: ______________________________________Percent of Ownership:
___________________

 

Home Address (No PO Box):__________________________________________________________

 

Phone Number: _________________ Email Address: ________________________________

 

Title (if applicable): ___________________________________________________________

 

Social Security Number: ___________________Date of Birth:
________________

 

Please provide documents to verify the
identity of the beneficial owner(s), including a current valid issued government id for each beneficial owner identified above.

 

 

		1	Beneficial Owner: each individual, if any, who directly
or indirectly, through any contract, arrangement, understanding, relationship or otherwise owns 25% or more of the equity interests
of a legal entity investor: (A) a single individual with significant responsibility to control, manage or direct a legal entity
investor, including, (i) an executive officer or senior manager (e.g. Chief Executive Officer, Chief Financial Officer, Chief
Operating Officer, Managing Member, General Partner, President, Vice President or Treasurer) or (ii) any other individual who
regularly performs similar functions or (B) if a trust owns directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise, 25% or more of the equity interests of a legal entity investor, the beneficial owner shall mean the
trustee. It is the ultimate beneficial owner(s) that must be identified and not nominees.

 

     

     

    

 

IDENTIFICATION & DOCUMENTATION
AND SOURCE OF FUNDS:

 

		1.	Please submit a copy of non-expired identification for the authorized signatory(ies) on the investment
documents, showing name, date of birth, address and signature. The address shown on the identification document MUST match the
Investor’s address shown on the Investor Signature Page.

 

	Current Driver’s License	or	Valid Passport	or	Identity Card

(Circle one or more)

 

		2.	If the Investor is a corporation, limited liability company, trust or other type of entity, please
submit the following requisite documents: (i) Articles of Incorporation, By-Laws, Certificate of Formation, Operating Agreement,
Trust or other similar documents for the type of entity; and (ii) Corporate Resolution or power of attorney or other similar document
granting authority to signatory(ies) and designating that they are permitted to make the proposed investment.

 

		3.	Please advise where the funds were derived from to make the proposed investment:

 

	Investments	Savings	Proceeds of Sale	Other ____________

(Circle one or more)

 

Signature:  _______________________________________

 

Print Name:  _____________________________________

 

Title (if applicable):  _______________________________

 

Date:  __________________________________________

 

     

     

    

 

DISCLOSURE SCHEDULE

 

June 19, 2020

[**]

 

     

     

    

 

EXHIBIT A

 

Form of Registration Rights AgreementExhibit 10.9

 

EXECUTION
COPY

 

CERTAIN
CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS
BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY
IF DISCLOSED.

 

AMENDED
AND RESTATED

 

COLLABORATION
AGREEMENT

 

This
Amended and Restated Collaboration Agreement (the
“Agreement”), dated February 11, 2015, amends and restates the Collaboration Agreement (the “Original
Agreement”) made as of October 16, 2014 (the “Effective Date”) and amended as of December 9, 2014,
by and between Adimab, LLC, a Delaware limited liability company having
an address at 7 Lucent Drive, Lebanon, NH 03766 (“Adimab”) and Kairos
Biologics Foundation LLC, a Delaware limited liability company having an address at 44 South Main Street, Hanover,
NH 03755 (“Kairos”).

 

Background

 

1.
Adimab is the leader in yeast-based, fully human antibody discovery using its proprietary core technology platform.

 

2.
Kairos is a newly formed biotechnology company focused on discovery and development of antibodies and antibody-like molecules
against novel targets and combinations of targets.

 

3.
The Parties wish to collaborate to have Kairos select disease-related biological targets; Adimab discover antibodies directed
against the selected targets; and Kairos determine the activity of the antibodies delivered by Adimab and have the option to license
certain of these antibodies for development and commercialization as biopharmaceutical product(s), all as more particularly set
forth in this Agreement.

 

NOW,
Therefore, in consideration of the foregoing premises and the mutual covenants
set forth below, and for other good and valuable consideration, the receipt of which is hereby acknowledged, Adimab and Kairos
hereby agree as follows:

 

Article 1

DEFINITIONS.

 

The
following initially capitalized terms have the following meanings (and derivative forms of them shall be interpreted accordingly):

 

1.1
“AAA” has the meaning given in Section 10.2(b)(i).

 

1.2
“Accounting Standards” means United States generally accepted accounting principles, or International Financial
Reporting Standards, whichever is used by the applicable Party in preparing its audited financial statements, in either case,
consistently applied.

 

1.3
“Adimab Indemnitees” has the meaning given in Section 8.2.

 

     

     

    

 

1.4
“Adimab Materials” means any tangible biological or chemical materials (including all vectors, antibodies
and other Know-How in the form of tangible biological or chemical materials) used by Adimab or provided by Adimab to Kairos under
a Research Program, including Program Antibodies (and DNA encoding these Program Antibodies).

 

1.5
“Adimab Platform/Background Patents” means all Patents Adimab or any of its Affiliates Controls during
the term of this Agreement that Cover a Licensed Antibody or Product, not based on the composition, manufacture or method of use
of such Licensed Antibody, but instead on the basis of the manner in which they were discovered by Adimab under the Research Program
using Adimab Platform/Core Technology.

 

1.6
“Adimab Platform/Core Technology” means (a) fully-integrated, yeast-based antibody discovery, maturation
and production via methods that include synthetic DNA antibody libraries, (b) all methods, materials and other Know-How used in
the foregoing and (c) platforms embodying, components, component steps and other portions of any of the foregoing in (a) or (b).

 

1.7
“Adimab Platform/Core Technology Improvement” means all (1) Program Know-How and all Program Inventions
(and Patents claiming them) that constitute Adimab Platform/Core Technology, including any and all improvements, enhancements,
modifications, substitutions, alternatives or alterations to Adimab Platform/Core Technology as it is practiced by Adimab as of
the Effective Date that constitute Adimab Platform/Core Technology and (2) any Adimab Program Inventions (but no other Program
Inventions) that have general application to antibodies regardless of CDR or that relate solely to the constant region of antibodies,
(b) are not in any way specific to the CDR of any Program Antibody or Program-Benefited Antibody, and (c) are not claimed in a
Patent claim that recites the sequence of all or any portion of such CDR in an independent claim, whether or not including a homology
range or permitted level of substitution or variance (or specific substitutions, variations or positions for placement of substitutions
or variations) from, to or within such sequence.

 

As
non-limiting examples, the following would qualify as Adimab Platform/Core Technology Improvements if they were Adimab Program
Inventions: [***].

 

Antibody
Sequence Coverage shall not be deemed Adimab Platform/Core Technology Improvements. Adimab Platform/Core Technology Improvements
do not include inventions claimed by Broad Target/Non-CDR Antibody Patents (which, to avoid doubt, in accordance with the definition
thereof, do not encompass any Program Inventions of which Adimab is an inventor in whole or in part with respect to clause (2)
of the first paragraph of that definition).

 

1.8
“Adimab Program Inventions” means (a) all Program Inventions for which Adimab (or its Affiliate) has (meaning
that it employs or has engaged as a consultant when the applicable inventive activity occurred) at least [***] person who would
be a properly named inventor on the U.S. Patent claiming such invention, other than Joint Inventions, and (b) all other Program
Inventions arising from Program Know-How owned by Adimab based on the application of Section 5.1. Inventorship for purposes of
this definition, and all intellectual property-related definitions in this Agreement, shall be determined in accordance with United
States patent law.

 

    2

     

    

 

1.9
“Adimab True-Up Amount” has the meaning given in Section 9.6.

 

1.10
“Affiliate” means, as to a given entity, another entity that, directly or indirectly, through one or more
intermediaries, controls, is controlled by or is under common control with such first entity. For purposes of this definition,
“control” means the ownership of fifty percent (50%) or more of the voting securities entitled to elect the directors
or management of the entity, or the actual power to elect or direct the management of the entity. Adimab and Kairos shall not
be deemed to be Affiliates of each other, nor shall Affiliates of Kairos be deemed to be Affiliates of Adimab (due to a common
control relationship), or vice versa. Moreover, notwithstanding anything in this Agreement to the contrary, any venture capital
fund, private equity fund or other investor who is not primarily an operating biopharmaceutical, pharmaceutical, diagnostics,
or medical device research and development and/or marketing company (a “Non-Affiliate Investor”) shall not
be considered an Affiliate of Kairos, and any person or entity that directly or indirectly controls or is controlled by a Non-Affiliate
Investor (except for any entity directly or indirectly controlled by Kairos, controlling Kairos, or under common control with
Kairos, in each case other than through Non-Affiliate Investor(s)) shall not be considered an Affiliate of Kairos solely by reason
of being controlled by the same Non-Affiliate Investors. The foregoing sentence shall apply mutatis mutandis to Adimab.

 

1.11
“Antibody Sequence Coverage” means a Program Patent with respect to which all of the following clauses
(a) through (c) apply: (a) includes independent claim(s) to the composition of matter of a Program Antibody, which claims recite
as a claim limitation the sequence, in whole or in part, of the Program Antibody’s CDR (whether in amino acid or nucleic
acid format), whether or not including a homology range or permitted level of substitution or variance (or specific substitutions,
variations or positions for placement of substitutions or variations) from, to or within such sequence (“Program Antibody
CDR-Specific Claims”); (b) may also include other independent claim(s) reciting such a claim limitation and directed
to the use or formulation of a Program Antibody and/or Broad Target/Non-CDR Antibody Inventions; and (c) does not include any
independent claim(s) not described by (a) or (b). Adimab shall be entitled to require separate filings in order to separate claims
that standing alone would be Antibody Sequence Coverage from other claims that standing alone would be either Adimab Platform/Core
Technology Improvements or Broad Target/Non-CDR Antibody Patents. Furthermore, Adimab shall be entitled to require separate filings
in order that Specific Sequence Information related to Program Antibodies that are not (and do not become) Licensed Antibodies
are not disclosed after publication of Program Patents that do contain Sequence Specific Information for Licensed Antibodies.

 

1.12
“Audited Party” has the meaning given in Section 4.12(a).

 

1.13
“Auditing Party” has the meaning given in Section 4.12(a).

 

1.14
“Bankruptcy Code” has the meaning given in Section 9.7.

 

    3

     

    

 

1.15
“Broad Target/Non-CDR Antibody Invention” means (1) any Program Invention or Program Know-How that relates directly
to a Target (or invention that is invented using Program Antibodies or Program-Benefited Antibodies that bind to such Target,
or an epitope thereof), including (a) the Target itself and any fragments thereto, (b) assaying for the Target or for antibodies
or other modulators to such Target (or fragments thereof), including biochemical in vitro or in vivo assays, (c)
the therapeutic and/or diagnostic utilities of modulating the Target (but for clarity excluding Antibody Sequence Coverage and
Program Antibody Patents and methods of using the same), (d) that relates to any epitope of a Target, including by being a method
specifically involving such epitope (including any therapeutic, prophylactic or diagnostic use of such epitope), and (e) a method
specifically involving such epitope (including any therapeutic, prophylactic or diagnostic use of such epitope), and (2) any Kairos
Program Invention (but no other Program Inventions) that (i) has general application to antibodies regardless of CDR or relates
solely to the constant region of antibodies, (ii) is not in any way specific to the CDR of any Program Antibody or Program-Benefited
Antibody, and (iii) is not claimed in a Patent claim that recites the sequence of all or any portion of such CDR in an independent
claim, whether or not including a homology range or permitted level of substitution or variance (or specific substitutions, variations
or positions for placement of substitutions or variations) from, to or within such sequence. Broad Target/Non-CDR Antibody Inventions
that are Kairos Program Inventions (but no other Program Inventions) will not be Adimab Platform/Core Technology Improvements.

 

As non-limiting examples, the following would qualify as Broad
Target/Non-CDR Antibody Inventions if (a) they were Program Inventions or Program Know-How: [***], and (b) if they were Kairos
Programs Inventions (but no other Program Inventions): [***]. Antibody screening technologies and Non-CDR specific antibody engineering
technologies will also qualify as Broad Target/Non-CDR Antibody Inventions if they did not constitute Adimab Platform/Core Technology
Improvements (subject to the last sentence of the preceding paragraph).

 

Subject
to the confidentiality and sequence non-disclosure provisions of this Agreement, a Patent claiming Broad Target/Non-CDR Antibody
Inventions may recite a Program Antibody or Program-Benefited Antibody as an example, and this fact alone shall not cause the
claimed invention not to be a Broad Target/Non-CDR Antibody Invention.

 

    4

     

    

 

1.16
“Broad Target/Non-CDR Antibody Patent” means any Patent that is directed solely to a Broad Target/Non-CDR
Antibody Invention. Broad Target/Non-CDR Antibody Patents include Patents directed to inventions expressed in terms of claiming
antibodies that bind to the applicable Target (or an epitope of such Target), based on their binding characteristics (defined
functionally or by reference to their interaction with the Target or epitope).

 

1.17
“Business Day” means a day that is not a Saturday, Sunday or public holiday in New York, New York, USA
or Lebanon, New Hampshire, USA.

 

1.18
“CDR” means the complementarity-determining region of an antibody as defined by the Kabat numbering scheme
or, the Chothia numbering scheme or, the IMGT database.

 

1.19
“Collaboration” means each Party’s activities under a Research Program at any time during the Collaboration
Term.

 

1.20
“Collaboration Term” means the period starting on the Effective Date and continuing until the later of
(a) expiration of the Tail Period or (b) completion of any Research Program activities continuing thereafter; provided, however,
that in no event will Adimab be required to expend resource beyond the Tail Period; and provided, further, however,
that in no event shall the Collaboration Term extend beyond the date which is thirty (30) months from the Effective Date without
the prior written consent of Adimab.

 

1.21
“Combination Product” means:

 

(a)
a pharmaceutical composition that contains or is comprised of one or more Licensed Antibody(ies), and additionally contains
or is comprised of one or more clinically active therapeutic or prophylactic ingredients that are not Licensed Antibody(ies);

 

(b)
a therapeutic or prophylactic Product (whether or not a drug combination as described in (a) above) that is delivered by a
proprietary, patented delivery device licensed from a Third Party, where the therapeutic or prophylactic Product and the patented
delivery device are sold together for a single sales price; or

 

(c)
a diagnostic Product that contains or is comprised of one or more Licensed Antibody(ies), and additionally contains or is
comprised of one or more other antibodies that are not Licensed Antibody(ies) and/or also includes one or more other patented
technology(ies)that is or are royalty-bearing to any Third Party.

 

1.22
“Commercially Reasonable Efforts” means, [***]. Commercially Reasonable Efforts shall be determined on
a country-by-country basis, and it is anticipated that the level of effort will change over time reflecting changes in the status
of the Product and the market involved.

 

    5

     

    

 

1.23
“Confidential Information” has the meaning given in Section 6.1.

 

1.24
“Control” means, with respect to any Know-How or Patent, possession by a Party, directly or through an
Affiliate, and whether by ownership or license (other than pursuant to this Agreement) of the ability to grant a license or sublicense
or other right as provided for in this Agreement without violating the terms of any written agreement with any Third Party.

 

1.25
“Cover” means, with respect to a particular item and a particular Patent, that such Patent claims or covers,
in any of the countries of manufacture, use, and/or sale, (a) the composition of such item, any of its ingredients or formulations
or any product containing or that is made using such item (by virtue of such product containing or being made using such item);
(b) a method of making or using any of the foregoing things referred to in (a); and/or (c) an item used or present in the manufacture
of any of the foregoing things referred to in (a) (for example, with respect to a biologic, any vector, plasmid or cell line used
to manufacture such product or item or any ingredient in either of them).

 

1.26
“Epitope Patent” means any Broad Target/Non-CDR Antibody Patent that is [***] to any invention that relates
to any epitope of a Target, [***]. Epitope Patents include Patents directed to inventions [***].

 

1.27
“Epitope Patent Compensation” has the meaning given in Section 4.3(g).

 

1.28
“Epitope Patent-Only Transaction” means a Program Transaction that is only a Program Transaction because
of the inclusion of Epitope Patents in the transaction (i.e., that do not otherwise include any Payment Patent(s), Licensed Antibody(ies)
and/or Product(s)). A Program Transaction will not be a Epitope Patent-Only Transaction if (i) it is entered into contemporaneously
with another Program Transaction, or (ii) regardless of timing, it is entered into with the same counterparty as any other transaction
that itself would be a Program Transaction relating to the same Target. For the purpose of this definition, “same counterparty
as” shall refer to the contracting entity and all Affiliates of such contracting entity.

 

1.29
“Field” means all therapeutic, prophylactic and diagnostic uses in humans or animals.

 

1.30
“First Commercial Sale” means, with respect to a Product in any country, the first sale, transfer or disposition
for value or for end use or consumption of such Product in such country after Marketing Authorization has been received in such
country.

 

    6

     

    

 

1.31
“Force Majeure” has the meaning given in Section 10.7.

 

1.32
“Full Payment Term Expiration” has the meaning given in Section 9.5.

 

1.33
“Full Time Equivalent” or “FTE” means the equivalent of a full-time scientist’s
working days over a twelve (12) month period (taking account of normal vacations, sick days and holidays not being considered
working days), which equates to a total of [***] hours per twelve (12) month period of scientific work performed by a fully qualified
Adimab employee or consultant directly in the Collaboration. To provide an FTE over a given time period that is less than a year
means to provide the proportionate share (corresponding to the proportion that such time period bears to a full year) during such
time period of a full year’s FTE. In no event shall the work over the course of a year of one individual person account
for more than one (1) FTE year.

 

1.34
“FTE Rate” means [***] per FTE [***] on a quarterly basis).

 

1.35
“Indemnify” has the meaning given in Section 8.1.

 

1.36
“IND” means an Investigational New Drug application, or similar application or submission to conduct human
clinical investigations filed with or submitted to a Regulatory Authority in conformance with the requirement of such Regulatory
Authority, and any amendments thereto.

 

1.37
“Interest Payment” has the meaning given in Section 4.9.

 

1.38
“Joint Inventions” means any and all Program Inventions for which Adimab (or its Affiliate) and Kairos
(or its Affiliate) each have (meaning that each employs or has engaged as a consultant) at least [***] person who would be a
properly named inventor on the U.S. patent claiming such invention. Inventorship for purposes of this definition, and all intellectual
property-related definitions in this Agreement, shall be determined in accordance with United States patent law.

 

1.39
“Joint Program Antibody Patent” means any Program Antibody Patent the invention of which is a Joint Invention.

 

1.40
“Joint Serendipitous Inventions” means all Joint Inventions other than those claimed by Joint Program Antibody
Patents or constituting Adimab Platform/Core Technology Improvements or Broad Target/Non-CDR Antibody Inventions or inventions
claimed in Antibody Sequence Coverage.

 

    7

     

    

 

1.41 “Kairos
Change of Control” means any (i) a merger or consolidation in which Kairos is a constituent party, except any such
merger or consolidation in which the equity ownership of Kairos outstanding immediately prior to such merger or consolidation
continue to represent, or are converted into or exchanged for shares of equity securities that represent, immediately
following such merger or consolidation, at least a majority, by voting power, of the equity ownership of the surviving or
resulting entity (or the ultimate parent entity of such surviving or resulting entity) or (ii) the sale, lease, transfer,
exclusive license or other disposition, in a single transaction or series of related transactions, by Kairos of all or
substantially all the assets of Kairos. Notwithstanding anything express or implied in this definition, (a) any of the
foregoing transaction(s) shall not constitute an “Kairos Change of Control” if (1) the business of Kairos
immediately prior to such transaction(s) is the primary business of Kairos or the surviving entity immediately after such
transaction(s), and (2) Kairos or the surviving entity, immediately after such transaction(s), if controlled, is controlled
(as “control” is defined in the definition of Affiliate), directly or indirectly, through zero, one or more
intermediaries, exclusively by any one or more venture capital funds, private equity funds or other investors each of whom is
not primarily an operating biopharmaceutical, pharmaceutical, diagnostics, or medical device research and development and/or
marketing company and is not controlled (as “control” is defined in the definition of Affiliate) by such an
operating company, and (b) if Kairos becomes Affiliated with any [***] pharmaceutical or [***] biopharmaceutical company,
regardless of the form of the transaction(s) and which entity is the surviving entity, this shall be a Kairos Change of
Control for purposes of this Agreement. Notwithstanding anything express or implied in this definition, Kairos Change of
Control excludes Subsidiary Trade Sales.

 

1.42
“Kairos Indemnitees” has the meaning given in Section 8.1.

 

1.43
“Kairos Materials” means any tangible biological or chemical materials (including antigen samples and other
Know-How in the form of tangible biological or chemical materials) provided by Kairos to Adimab under any Research Program.

 

1.44
“Kairos Program Inventions” means (a) all Program Inventions for which Kairos (or its Affiliate) has (meaning
that it employs or has engaged as a consultant when the applicable inventive activity occurred) at least [***] person who would
be a properly named inventor on the U.S. Patent claiming such invention, other than Joint Inventions, and (b) all other Program
Inventions arising from Program Know-How owned by Kairos based on the application of Section 5.1. Inventorship for purposes of
this definition, and all intellectual property-related definitions in this Agreement, shall be determined in accordance with United
States patent law.

 

1.45
“Know-How” means all technical information and know-how, including inventions, discoveries, trade secrets,
specifications, instructions, processes, formulae, materials (including cell lines, vectors, plasmids, nucleic acids and the like),
methods, protocols, expertise and other technology applicable to formulations, compositions or products or to their manufacture,
development, registration, use or marketing or to methods of assaying or testing them or processes for their manufacture, formulations
containing them or compositions incorporating or comprising them, and including all biological, chemical, pharmacological, biochemical,
toxicological, pharmaceutical, physical and analytical, safety, quality control, manufacturing, preclinical and clinical data,
instructions, processes, formula, and expertise that, in each case, is not in the public domain.

 

1.46
“License-Competitive Infringement” has the meaning given in Section 5.7(a)(i).

 

1.47
“Licensed Antibody” has the meaning given in Section 3.2.

 

    8

     

    

 

1.48
“Licensed Program Antibody Patents” means those Program Antibody Patents that Cover any Licensed Antibodies
or Products.

 

1.49
“Losses” has the meaning given in Section 8.1.

 

1.50
“Major Market” means any of the United States, Great Britain, France, Germany, Italy, or Spain.

 

1.51
“Marketing Authorization” means all approvals from the relevant Regulatory Authority necessary to market
and sell a product (including a Product) in any country, including a Biologics License Application (BLA) in the U.S.

 

1.52
“Multi-Product Deal” means a Program Transaction in which rights are granted to both (a) one or more Licensed
Antibodies and/or Products, and (b) one or more antibodies, drugs and/or products that (i) are not Licensed Antibodies and/or
Products, and (ii) are not Program-Benefited Antibodies.

 

1.53
“Multi-Product Deal Program Transaction Revenue” means, in a Multi-Product Deal, the portion of the Program
Transaction Revenue for that Multi-Product Deal that is allocated and designated as Multi-Product Deal Program Transaction Revenue
as provided in Section 4.3(c).

 

1.54
“Net Sales” means the gross amount invoiced by Kairos or its Affiliates, or their Program Transaction counterparties
(or their Affiliates) in Program Transactions for which the Royalty Election is made, for the sale, transfer or other disposition
of Product to other Third Parties (in final form for end use or in whatever form is sold to Third Parties who are not Program
Transaction counterparties (or their Affiliates)), less any of the following applicable deductions to the extent actually granted
and included in the invoiced amounts:

 

(a)
normal, customary trade discounts (including volume discounts), credits, chargebacks, rebates, and allowances and adjustments
for rejections, recalls, outdated products, and returns, in each case whether voluntary or required;

 

(b)
freight, shipping, and insurance;

 

(c)
sales, use, excise, value-added and similar customs, taxes, tariffs or duties and other governmental charges imposed on such
sale, transfer, or other disposition (but in no case taxes on income);

 

(d)
credits actually given or allowances actually made for wastage replacement, Medicare/Medicaid rebates, indigent patient and
similar programs to provide Product for free; or

 

(e)
amounts written off by reason of uncollectible debt solely with respect to payments payable for Product to the extent consistent
with Accounting Standards, as determined on a country-by-country basis, but such deduction for uncollectible debt shall not to
[***] of gross amounts invoiced country-by-country in any twelve (12) month period.

 

    9

     

    

 

Even
if there is overlap between any of deductions (a) - (e), each individual item shall only be deducted once in each Net Sales calculation.

 

Net
Sales calculated as described above shall be adjusted for Combination Products, as provided in Section 4.5(d). The same adjustment
shall be applied to product bundles (in the countries where bundling is permitted under anti-trust law, if any).

 

Net
Sales excludes amounts from sales or other dispositions of Product between Kairos and any of its Affiliates, and Program Transaction
counterparties (and their Affiliates), solely to the extent that such entity purchasing a Product either (a) resells such Product
to another Third Party not Affiliated with any of them and such resale is included in Net Sales, or (b) the quantities are for
use to be provided free to patients in a Product clinical trial.

 

1.55
“Non-Affiliate Investor” has the meaning given in Section 1.10.

 

1.56
“Option” has the meaning given in Section 3.2.

 

1.57
“Option Evaluation Period” means, with respect to a Target and the Program Antibodies to such Target, the
period commencing with the first day of the applicable Option Term and ending on the earlier of (a) the date of Option exercise
or (b) the expiration the Option Term.

 

1.58
“Option Term” means, for each Target, the [***].

 

1.59
“Paid/Achieved Event” has the meaning given in Section 4.8.

 

1.60
“Party” means Adimab or Kairos.

 

1.61
“Patent” means any patent application or patent anywhere in the world, including all of the following kinds:
provisional, utility, divisional, continuation, continuation-in-part, and substitution applications; and utility, re-issue, re-examination,
renewal and extended patents, and patents of addition, and any Supplementary Protection Certificates, restoration of patent terms
and other similar rights.

 

1.62
“Payment Patent” means any (a) Licensed Program Antibody Patent (to avoid doubt these by definition are
not directed to Broad Target/Non-CDR Antibody Invention(s) or Broad Target/Non-CDR Antibody Patent(s), unless covered by the next
clause (b)), and (b) Epitope Patents.

 

1.63
“Phase I Trial” has the meaning given in Section 4.8.

 

1.64
“Phase II Trial” has the meaning given in Section 4.8.

 

1.65
“Product” means any device, biologic or drug (or investigational device, biologic or drug) for use in the
Field that contains one or more (a) Licensed Antibody(ies), or (b) modified or derivative form of any Licensed Antibody, including
any: (i) fragment of a Licensed Antibody, (ii) pegylated version (whether or not associated with amino acid changes) of a Licensed
Antibody, (iii) otherwise chemically modified versions (including amino acid substitutions to implement or associated with the
chemical modification) of a Licensed Antibody, and (iv) version of such antibody with a wholly or partially different Fc or constant
region.

 

    10

     

    

 

Products
include Combination Products; provided, however, that this inclusion shall not be read to provide a license for any antibody
or other active ingredient or component in a Combination Product that is not a Licensed Antibody, under independent intellectual
property (including Patents and Know-How) of Adimab or its Affiliate Covering or with respect to such antibody or other ingredient
on a stand-alone basis apart from its inclusion in the Combination Product. The same principle shall apply to exclude proprietary
devices and diagnostic methods of Adimab and its Affiliates that do not constitute Adimab Platform/Background Patents and are
not Program Inventions.

 

1.66
“Program Antibody” means each antibody identified and delivered by Adimab to Kairos under a Research Program.
For this purpose, “delivery” will occur through Adimab providing quantities of the antibody itself (in sufficient
amount to conduct cell based assays), and disclosing to Kairos the nucleic acid sequence coding for such antibody. “Sequence”
of a Program Antibody refers interchangeably, and throughout this Agreement, to the amino acid sequence of such antibody and any
nucleic acid sequence coding for it.

 

1.67
“Program Antibody CDR-Specific Claims” has the meaning given in Section 1.15.

 

1.68
“Program Antibody Patents” means Program Patents that (a) Cover a Program Antibody or product containing
a Program Antibody; (b) do not Cover Adimab Platform/Core Technology Improvements or Broad Target/Non-CDR Antibody Inventions;
and (c) are not Broad Target/Non-CDR Antibody Patents. Patents that constitute Antibody Sequence Coverage are a subset of Program
Antibody Patents hereunder, but those Patents that constitute Antibody Sequence Coverage may be treated differently hereunder.

 

1.69
“Program-Benefited Antibody” has the meaning given in Section 3.5(a).

 

1.70
“Program Inventions” means any invention that is conceived and/or first reduced to practice in whole or
in part by employees, contractors or agents of either Party or of both Parties in the course of the Collaboration or the evaluation
of a Program Antibody during the applicable Option Evaluation Period.

 

1.71
“Program Know-How” means all Know-How made, developed, invented or discovered by employees, contractors
or agents of either Party or of both Parties in the course of the Collaboration or the evaluation of a Program Antibody during
the applicable Option Evaluation Period, excluding Program Inventions claimed in any Program Patent that has published or issued.

 

1.72
“Program Patent” means any Patent claiming a Program Invention.

 

1.73
“Program Trade Sale Proceeds” means the amount of money in a Kairos Change of Control allocated to the
Undesignated Rights, as determined in accordance with Section 4.3(c). For clarity, if the proceeds of a Kairos Change of Control
are subject to increase by contingent payments related to future events and/or release of escrowed amounts, such increased amounts
shall be included as Program Trade Sale Proceeds only as and when such payments are received by Kairos, its Affiliate(s), or shareholder(s)
or former shareholder(s) of any of them (but in this last case only if they are receiving payments due to their shareholding prior
to the Kairos Change of Control).

 

    11

     

    

 

1.74
“Program Transaction” means any and all agreements, transactions or arrangements that include a grant by
Kairos or its Affiliate(s) to any Third Party of rights of any kind with respect to any Payment Patent(s), Licensed Antibody(ies)
and/or Product(s), regardless of the form of transaction, including asset sales, assignments, licenses, covenants not to sue,
grants of distribution rights, Subsidiary Trade Sales and options for any of the foregoing. Program Transactions exclude (a) a
Kairos Change of Control and any such transactions entered into by Kairos or its successor after, and that do not form any part
of (i.e. do not form part of a series of transactions constituting), a Kairos Change of Control, and (b) agreements with contract
manufacturing organizations (CMOs), contract research organizations (CROs), academic research organizations (AROs) and other contractors,
or academic, non-profit or governmental entities, in each case where (1) the agreement counterparty is performing services for
or collaborating with Kairos or its Affiliates and the counterparty and its Affiliates are not granted any commercialization rights
of any kind with respect to any Payment Patent(s), Licensed Antibody(ies) and/or Product(s) (including options for commercial
rights) (whether pursuant to the same or under a different agreement) and (2) no material revenue will be received by Kairos or
any of its Affiliates.

 

If multiple related
or reasonably contemporaneous agreements, transactions or arrangements with any given Third Party (or set of related or affiliated
Third Parties) are entered into by Kairos or its Affiliate (or any combination of them), and one such agreement, transaction or
arrangement would alone be a Program Transaction, then all such related or reasonably contemporaneous agreements, transactions
or arrangements shall together be considered a single Program Transaction, although, for clarity, such Program Transaction may
be treated as a Multi-Product Deal hereunder, if applicable. [***].

 

1.75
“Program Transaction Revenue” means all consideration (including monetary and non-monetary consideration in all
forms other than not-readily-monetizable covenants that are customary in out-licensing deals in which the out-licensor is not
obtaining rights to any unrelated intellectual property or products of the licensee, as further described in the last paragraph
of this definition) actually received by Kairos or its Affiliate or shareholders in either of them, from any Third Party in connection
with a Program Transaction, excluding only:

 

(a) [***];

 

    12

     

    

 

(b) [***];

 

(c) [***];

 

(d) [***];

 

(e) [***];

 

(f) [***];

 

(g) [***].

 

Other
than in the case of a Multi-Product Deal (which shall be handled as provided for in Section 4.3(c), as applicable), there shall
be no adjustment, proportionality or scaling of any kind to or of Program Transaction Revenue for the inclusion, in addition to
Program Know-How or Licensed Program Antibody Patents, of other intellectual property or rights in the Program Transaction (e.g.,
clinical data or trademarks in addition to Licensed Program Antibody Patents); provided, however, that in the case of a
Combination Product, the allocation of Program Transaction Revenue shall be subject to further potential adjustment under Section
4.3(c).

 

If
Kairos receives Program Transaction Revenue in a form other than immediately available funds (for example, in equity of a Third
Party), then Adimab shall receive its share of the Program Transaction Revenue in the same forms and in the same proportions as
does Kairos (i.e., Adimab will receive its share in the same mix of immediately available funds and in-kind consideration as Kairos),
or if the Parties agree on a case-by-case basis that such an in-kind distribution is not practical, then Kairos shall pay Adimab’s
share, calculated based on the fair market value of such in-kind consideration, in cash or wire transfer of immediately available
funds. If the Parties do not agree that the in-kind distribution is not practical, then Adimab shall have the right to decline
and forgo its share of in-kind consideration on a case-by-case basis. For clarity, if Program Transaction Revenue is subject to
increase by contingent payments related to future events and/or release of escrowed amounts, such increased amounts shall be included
as Program Transaction Revenue only as and when such payments are received by Kairos (or its Affiliate or shareholders in Kairos
or its Affiliates).

 

The following types
of consideration in a Program Transaction are not considered and shall be deemed excluded from Program Transaction Revenue: [***].

 

    13

     

    

 

1.76
“Purpose” has the meaning given in Section 6.1.

 

1.77
“Regulatory Authority” means the FDA or any counterpart of the FDA outside the United States.

 

1.78
“Related Parties” has the meaning given in Section 4.12(a).

 

1.79
“Research Committee” has the meaning given in Section 2.1(a).

 

1.80
[Intentionally Omitted]

 

1.81
“Research Plan” means any research plan providing for a program of research that the Research Committee
may finalize and the Parties approve in writing as provided for in Section 2.2. It is anticipated that there may ultimately be
9-15 Research Plans under the Collaboration, but the final number of Research Plans is not currently known. All Research Plans
will be numbered consecutively. All Research Plans shall comply with the applicable requirements stated in Section 2.2.

 

1.82
“Research Program” means a program of research conducted under this Agreement in accordance with a Research
Plan. Research Program 1 is the program of research under Research Plan 1. Each Research Program shall have the same number as
the Research Plan to which it corresponds.

 

1.83
“Research Term” means, for each Research Program, the period beginning when Kairos first delivers Kairos
Materials under such Research Program to Adimab, and ending when Adimab completes the activities called for under the Research
Plan for that Research Program.

 

1.84
“Revenue Election” has the meaning given in Section 4.3(a)(i).

 

1.85
“Royalty Election” has the meaning given in Section 4.3(a)(ii).

 

1.86
“Royalty Term” has the meaning given in Section 4.5(b).

 

1.87
“Senior Executives Discussions” has the meaning given in Section 10.2(a).

 

1.88
“Specific Sequence Information” has the meaning given in Section 3.5(a).

 

1.89
“Start Date” means the date that Adimab designates in writing to Kairos as the date upon which the Adimab
campaign team will start the first Research Program under this Agreement. Adimab shall provide this written designation to Kairos
within two (2) weeks after the Effective Date.

 

    14

     

    

 

1.90
“Subject Antibody Library” has the meaning given in Section 2.9.

 

1.91
“Subsidiary Trade Sale” means, with regard to any subsidiary Affiliate of Kairos that does not hold or
have the right to obtain all or substantially all of the Undesignated Rights under this Agreement, any transaction, or series
of related transactions, that would constitute a Kairos Change of Control if the name of the subsidiary Affiliate was substituted
for the name of Kairos in the definition of Kairos Change of Control. For clarity, Subsidiary Trade Sales are Program Transactions.

 

1.92
“Success Criteria” shall mean, for each Research Program, the criteria set forth in the applicable Research
Plan for the characteristics that are being sought in the Program Antibodies to the corresponding Target, as a group. Success
Criteria may be defined with respect to a population of antibodies, such that some specified number (less than all) of the Program
Antibodies delivered by Adimab may be required to meet different criteria, and in that case if the population of Program Antibodies
collectively meet those criteria (by the minimum numbers of individual antibodies meeting different of the articulated criteria
set forth in the applicable Research Plan), then the Success Criteria shall be deemed met. For clarification, when applicable,
a single given antibody will have to fulfill multiple previously agreed upon success criteria. Two antibodies, one of which fulfills
affinity criteria and the other of which fulfills epitope binding domain criteria, will not together be deemed to fulfill the
success criteria of a given Research Plan if such success criteria included the identification of a single antibody with a given
affinity and a given binding epitope.

 

1.93 “Tail
Period” means the [***] beginning at the end of the Target Nomination Period.

 

1.94
“Target” means the disease-related biological target of interest to Kairos that is specifically identified
in Research Plan 1, or the disease-related biological target of interest to Kairos that is specifically identified in any subsequent
Research Plan. Different epitopes on or serotypes of the same molecule that is a biological target of interest will not be deemed
to be different Targets, and Target shall be defined by reference to entire molecules rather than individual serotypes/epitopes
(although activities may be focused on specific serotype/epitopes).

 

1.95 “Target
Nomination Period” means the period beginning on the Effective Date and ending on the [***] anniversary
thereof.

 

1.96
“Territory” means worldwide.

 

1.97
“Third Party” means an entity other than a Party or the Affiliate of a Party.

 

1.98
“Third-Party Claims” has the meaning given in Section 8.1.

 

1.99
“Undesignated Rights” means those commercial rights in and to a Licensed Antibody (and/or the Products
comprised of such Licensed Antibody) as to which a Revenue Election or Royalty Election has not previously been made or
been deemed made (e.g., with respect to particular jurisdictions, indications and/or fields of use).

 

    15

     

    

 

1.100
References in the body of this Agreement to “Sections” refer to the sections of this Agreement. The terms “include,”
“includes,” “including” and derivative forms of them shall be deemed followed by the phrase “without
limitation” regardless of whether such phrase appears there (and with no implication being drawn from its inconsistent inclusion
or non-inclusion).

 

1.101
To avoid doubt, the term “antibody” as used everywhere else in this Agreement includes both full-length antibodies,
fragments thereof, and chemically modified versions thereof (including pegylated versions and regardless of whether containing
amino acid substitutions), all of the foregoing whether naturally occurring, artificially produced, raised in an artificial system,
or created through modification of an antibody produced in any of the foregoing ways or otherwise.

 

Article 2

PROGRAM.

 

2.1
Scientific Research Committee.

 

(a) Research
Committee. Promptly after the Effective Date, the Parties shall form a steering committee consisting of [***] representatives
from each Party (the “Research Committee”). Either Party may change its Research Committee members upon written
notice to the other Party.

 

(b)
Meetings. The Research Committee shall hold its first meeting within [***] days after the Effective Date. Thereafter, it
shall meet from time to time promptly after the date of a written request by either Party, and in any event no less
frequently than quarterly during the Collaboration Term. The Research Committee may meet in person or by teleconference or
videoconference. Each Party shall designate one of its Research Committee members as co-chair. The co-chairs shall be
responsible to circulate a written agenda in advance of each Research Committee meeting. The co-chairs shall be responsible
to circulate, finalize and agree in writing on minutes of each meeting within [***] days after the meeting date. Each Party
shall be entitled to have a reasonable number of its employees and consultants who are not Research Committee members attend
Research Committee meetings from time to time; provided, however, that such employees and consultants are subject to
written confidentiality and non-use obligations that are no less stringent than the confidentiality obligations and
restrictions on use set forth in Article 6.

 

(c)
Responsibilities. The Research Committee’s role is to (i) facilitate communication regarding progress and results under
the Collaboration and as to individual Research Programs; (ii) review and discuss reports provided by each Party; (iii) be the
working group that will prepare and finalize new proposed research plans for approval by each Party; (iv) prioritize among Research
Programs (including terminating or postponing Research Programs); (v) discuss and approve any research to be performed by or in
collaboration with a Third Party that is primarily in the commercial antibody discovery business (as described in Section 2.8(c)),
if approved by Adimab in its sole discretion; (vi) recommend to Kairos additional research activities not described in a Research
Plan that Kairos may, in its sole discretion, authorize Adimab to perform in the event that there is additional capacity in the
Adimab FTE commitment described in Section 2.4 that is not being utilized; and (vii) perform such other activities as the Parties
agree in writing shall be the responsibility of the Research Committee.

 

    16

     

    

 

(d)
Decision-Making. Day-to-day Research Program management and implementation shall be the responsibility of the
Parties’ respective technical teams as regards each Party’s Research Program responsibilities. The Research
Committee shall have the limited authority to (i) amend each Research Plan in a manner not substantially affecting resources
required to perform such Research Plan or Success Criteria or altering timing for performance in a way that consumes fewer
FTEs than scheduled unless Adimab consents in writing in its sole discretion or receives no less than [***] days’
notice prior to the FTE reduction (in the latter case, subject always to and without altering the minimum FTE funding
requirements in Section 4.2), and (ii) prioritize among Research Programs (including terminating or delaying Research
Programs, subject always to the same notice requirements prior to reducing FTEs as set forth in subsection (i) and subject
always to and without altering the minimum FTE funding requirements in Section 4.2). Except for the limited authority set
forth in the foregoing sentence, the Research Committee shall not have any decision-making authority and the Research
Committee shall have no power to amend or waive compliance with this Agreement or any Research Plan. Decisions within the
purview of the Research Committee shall be made by the Research Committee by consensus, with the representatives of each
Party collectively having one vote on behalf of such Party. For each meeting of the Research Committee, at least [***]
representative of each Party shall constitute a quorum. If the Research Committee is unable to reach a consensus with respect
to a dispute within its purview (to avoid doubt, general contractual disputes and disputes as to any decisions reserved to a
Party shall not be deemed to be within the Research Committee’s purview), then the dispute resolution provisions of
Section 10.2(a) shall apply; provided, however, that (x) disputes regarding new research plans shall be resolved as
set forth in Sections 2.2(e) and (f); (y) [***] shall have final decision-making authority regarding the prioritization of
Research Programs (including terminating or postponing Research Programs (subject to the notice and FTE funding
qualifications described in clauses (i) and (ii) above in this paragraph)); and (z) other than a dispute as to whether each
Party has acted in good faith and in accordance with this Agreement in its participation in the Research Committee, disputes
of the Research Committee not resolved by the Senior Executives Discussions under Section 10.2(a) shall not be justiciable
and (absent such a failure to act in good faith and in accordance with this Agreement) shall not be litigated, and the
disputed Research Committee decision not falling within (x) or (y) and not resolved under (z) shall simply not be taken.

 

2.2
Addition of New Targets and Research Plans/Programs.

 

(a)
Multiple Targets/Programs at Signing, and Likelihood of More. The Parties wish to engage in the Collaboration, consisting
of multiple Research Programs. It is anticipated that Targets will be added by Kairos to the Collaboration, consistent with the
procedures provided in this Section.

 

    17

     

    

 

(b)
Selection/Notice by Kairos.

 

(i)
Selection of Targets. During the Target Nomination Period, Kairos shall have the right to propose new biological targets that
it wishes to add to the Collaboration as Targets, by written notice to Adimab. Such written notice may be (but is not required
to be) included in one of Kairos’s regular reports under Section 2.5(c) or in a written request for a Research Committee
meeting.

 

(ii)
Limited Right to Reject Targets. Adimab has no right to reject proposed Targets for reasons other than (x) technical feasibility
or (y) a good faith concern by Adimab that working on such Target(s) for Kairos could create the appearance that confidential
information of another Adimab partner was passed to Kairos; provided, however, that with respect to clause (y), Adimab
may not reject a Target (1) unless Adimab has already been informed by a current or prospective Adimab partner that such partner
intends to pursue such Target; and (2) if there is a published scientific article or a presentation at a scientific meeting discussing
the biological function of such Target that Kairos desires to modulate with a Program Antibody. Prior to making a determination
to reject a Target in accordance with clause (y) of the previous sentence, Adimab shall notify Kairos that Adimab is considering
rejecting such Target and Kairos may, at its option, provide Adimab with a letter signed by the Chief Executive Officer of Kairos
and any additional information Kairos may provide describing when and how the decision to pursue such Target was made by Kairos,
including references to specific meetings and documents to the extent applicable. In the event that Adimab determines not to reject
such Target, Adimab may request a written summary of such information for the sole purpose of demonstrating to such other partner
that there was no leakage of such partner’s confidential information to Kairos.

 

(c)
Questionnaire and Drafting Process. Promptly after Kairos’s notice, Kairos shall fill out and send to Adimab the
Research Program Questionnaire (the form of which is attached as Exhibit A), as well as a draft research plan (or, if the
notice does not include a draft research plan, then Adimab shall provide the first draft of the research plan based on the
input from the Research Program Questionnaire). Promptly after Adimab receives the completed Research Program Questionnaire
and draft research plan from Kairos (within [***] days), Adimab shall review the Research Program Questionnaire and draft
research plan and shall provide Kairos with any comments or questions, which will form the basis for a Research Committee
meeting. If the Research Committee approves the general research plan concept, the Research Committee shall designate a
working group consisting of the technical teams of both Parties that shall finalize the Research Plan within a period of no
longer than [***] weeks. The Parties shall work together collaboratively (through the Research Committee and otherwise) to
revise and reach consensus on the plan.

 

(d)
Required Content in Each Proposed Research Plan. Each proposed research plan shall comply with all of the following:

 

(i)
The plan shall clearly identify the Target for which Kairos provided its notice, in a manner consistent with the definition
of Target.

 

(ii)
The plan shall clearly identify Success Criteria for the applicable Target. If applicable, it shall additionally distinguish
the criteria that serve contractually as requirements to meet the Success Criteria for purposes of this Agreement, from other
criteria (if any) that are desired characteristics but are not required to be met in order for the Success Criteria to be achieved
in the applicable Research Program for purposes of this Agreement (i.e., required versus preferred characteristics).

 

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(iii)
The plan shall describe the Kairos Materials to be provided.

 

(iv)
The plan shall describe the Adimab deliverables in reasonable detail.

 

(v)
The plan shall describe a timeline for (w) delivery of the Kairos Materials to Adimab, (x) commencement of Adimab’s
work under the plan, (y) delivery by Adimab of Adimab’s deliverables under the plan, and (z) if applicable, any “optional”
research activities of Adimab under the plan, described below.

 

(vi)
The plan shall describe any research to be performed by or in collaboration with a Third Party that is approved as described
in Section 2.8(c).

 

The
plan may also include additional research activities that Kairos may, in its sole discretion, authorize Adimab to perform in the
event that there is additional capacity in the Adimab FTE commitment described in Section 2.4 that is not being utilized. Such
additional research activities shall be identified as “optional” in the Research Plan, and shall only be performed
by Adimab if so authorized by Kairos in writing. For example, if a Research Plan stage is delayed because required Kairos Materials
are not available, Kairos may authorize Adimab to undertake some or all of the “optional” research activities described
in one or more Research Plans.

 

(e) Process
Timeline and Approval Process. The process at the Research Committee level is intended to take about [***] days. Once consensus
has been reached at the Research Committee level, the proposed research plan, along with a written estimate of the FTEs required
to perform Adimab’s responsibilities under each stage of the plan, shall be sent by the Research Committee for formal approval
within each Party. Each Party shall respond in writing with its approval of the plan, or with any concerns, within [***] days.
Neither Party shall unreasonably withhold, delay or condition its approval to a proposed plan that is consistent with the standards
above (at either the Research Committee consensus or the approval-by-the-Parties stage). If a Party does not approve the proposed
final plan, it shall provide a reason in writing and the Research Committee shall seek in good faith to find a solution, revise
the plan, and resubmit for formal approval within [***] days. The plan shall become a Research Plan under this Agreement, and if
applicable, the target that it identifies shall become a Target under this Agreement, when an officer for each Party signs an approval
letter approving the final plan.

 

(f) Escalation
in Case of Failure to Reach Consensus. If the Research Committee is unable to reach consensus on a new research plan (either
initially or after an initial plan is sent for approval but rejected by either Party), then either Party may refer the matter for
further discussions by an officer or director of each Party, who is not an officer or director of and does not have (or represent
a fund that has) an equity or debt interest in the other Party, directly or indirectly. Each Party shall be entitled to select
its representative and shall make such representative reasonably available for discussions and seek in good faith to resolve the
dispute over a period not longer than [***] days. In the absence of consensus, the proposed plan shall not be a Research Plan under
this Agreement, but a Party shall be entitled to proceed to further escalation and dispute resolution under Section 10.2(a) regarding
the issue of whether the other Party has unreasonably withheld, delayed or conditioned its approval of the proposed research plan
as a Research Plan.

 

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2.3
Research Program Performance. Each Party shall use its reasonable efforts to carry out the Research Program activities assigned
to such Party in each Research Plan, on the applicable timeline set forth in such Research Plan. Adimab shall deliver to Kairos
the Program Antibodies and all other deliverables described in each Research Plan in accordance with the timetable set forth therein,
but no later than the end of the applicable Research Term, unless a Kairos re-prioritization of Research Programs results in a
different timeline. Adimab’s performance obligations under each Research Plan shall be contingent upon Kairos providing
the Kairos Materials set forth in such Research Plan and the FTE funding as provided in this Agreement, and shall expire at the
end of the Research Term. Kairos’s performance obligations relating to testing of Program Antibodies under a Research Plan
are contingent upon Adimab providing the Program Antibodies as detailed in the Research Plan that collectively meet the applicable
Success Criteria.

 

2.4
Collaboration FTE Commitments.

 

(a) FTE
Commitment. Throughout the Target Nomination Period, Adimab will make available to dedicate to the Collaboration a minimum
of [***] campaign team consisting of [***] FTEs in the aggregate (to avoid doubt, individual scientific personnel may rotate on
and off the campaign team and any given FTE may consist of the time of more than one person (for non-limiting example, two half-time
people)). During the Target Nomination Period, Adimab will devote such FTEs to performing Research Programs to the extent there
are Research Programs (and applicable Kairos Materials received to enable Adimab performance). During the Target Nomination Period,
more than [***] FTEs may be performing activities under the Research Programs at any given time; provided, however, that
the total number of FTEs performing such activities shall not exceed [***] FTEs on average in any calendar quarter without the
prior written consent of both Parties; and provided, further, however, that Adimab shall not be required to expend more
than [***] FTEs in any calendar quarter if Kairos declines to so consent, regardless of the requirements or commitments set forth
in a Research Plan or the resources required to perform such Research Program. No later than [***] months prior to the expiration
of the Target Nomination Period, Kairos shall notify Adimab in writing of those Research Programs that Kairos elects (in its sole
discretion) to pursue during the Tail Period (or any portion thereof) and Adimab will provide Kairos with a schedule of the FTE
usage required by Adimab to continue such Research Programs during the Tail Period, which schedule will be based on the then-current
Research Plan for such Research Programs. If Kairos so elects, during the Tail Period Adimab will devote the number of FTEs set
forth on such schedule; provided, however, that Adimab’s aggregate FTE commitment during the Tail Period shall not
exceed [***] FTEs per year over such period taken as a whole without the prior written consent of both Parties; and provided,
further, however, that Adimab shall not be required to expend more than [***] FTEs in such calendar quarter if Kairos declines
to so consent, regardless of the requirements or commitments set forth in a Research Plan or the resources required to perform
such Research Program. Adimab shall not be required during the Target Nomination Period or during the Tail Period to devote any
FTEs to performing Research Programs, other than FTEs funded by Kairos under Section 4.2.

 

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(b) Funding.
Kairos is responsible to fund the FTEs devoted by Adimab to the Collaboration as set forth in Section 4.2. In no event shall Kairos
be required to fund more than [***] FTEs during the Target Nomination Period unless agreed to by Kairos in writing. For clarity,
an e-mail from Kairos explicitly authorizing such additional work shall be deemed to be “in writing” for these purposes.

 

(c) Exclusive
Use of Campaign Manager. During the applicable Research Term and for a period of [***] year after, the person whom Adimab has
designated as the “Campaign Manager” for a given Research Program shall not perform, or supervise the performance of,
research relating to the corresponding Target using Adimab Platform/Core Technology for Adimab or its Affiliates (whether for their
own account or on behalf of any Third Party). It is understood and agreed that if such a person is no longer in Adimab’s
or its Affiliate’s employ, then such person’s activities for another employer are beyond the scope of (and are not
Adimab’s responsibility to prevent under) the foregoing sentence.

 

2.5
Records and Reports.

 

(a)
Records. Each Party shall maintain scientific records, in sufficient detail and in good scientific manner appropriate for
patent and regulatory purposes, which shall fully and properly reflect all work done and results achieved in the performance of
the Collaboration. All such records and the information disclosed therein shall be maintained in confidence in accordance with
Article 6 to the extent reflecting Confidential Information of the other Party. Adimab shall not be required to disclose Adimab
Platform/Core Technology to Kairos, even if reflected in such records.

 

(b)
Reports By Adimab. At the junctures specified in each Research Plan, Adimab shall provide written reports to Kairos of the
Program Antibodies Adimab has identified under that Research Plan, any information with respect to them that such Research Plan
provides for Adimab to disclose, and any Program Know-How or Program Inventions owned by Kairos based on the terms hereof. Adimab
shall not be required to disclose any Adimab Platform/Core Technology to Kairos.

 

(c)
Reports By Kairos. During the Research Term at the junctures set forth in the Research Plan, and then semi-annually throughout
the term of the applicable Option and for so long as Kairos or any of its Affiliates, successors, licensees or sublicensees continue
to generate or test any Program-Benefited Antibodies, Kairos shall provide written reports to Adimab. Kairos’s reports shall
provide any Program Know-How developed by Kairos in the applicable Research Program that Kairos is required to provide under the
Research Plan, and shall disclose all Program-Benefited Antibodies since the date of the last report. Such reports and their contents
are Confidential Information of Kairos (except to the extent that Kairos includes any Adimab Confidential Information in the reports).

 

2.6
Use of Adimab Materials. Kairos shall not use Adimab Materials in any way outside of the Research Program or other than pursuant
to the licenses granted under this Agreement while such licenses are in effect. Among other things, this means that, except under
the applicable Research Program as outlined in the applicable Research Plan or pursuant to such licenses, Kairos shall not: (a)
provide Adimab Materials to any Third Party (except permitted Third Party contractors and collaborators as described in Section
2.8), (b) sequence or modify the Adimab Materials, or (c) use sequence information regarding, or quantities of, Program Antibodies
or Adimab Materials for any purpose other than to research, develop and commercialize Program-Benefited Antibodies pursuant to
Section 3.5.

 

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Adimab
retains title to the Adimab Materials, including all quantities of Program Antibodies that it provides under the Collaboration.
Unless Kairos exercises an Option with respect to such Program Antibodies, such quantities of Program Antibodies are for use solely
in assessing whether to exercise the Options. Such quantities shall not be used in humans or in antibody discovery research to
screen for or discover other antibodies; provided, however, that Kairos may use such quantities to compare the performance
of Program Antibodies in various assays against other Program Antibodies, benchmark research antibodies, benchmark commercial
antibodies, or any other agent, including small molecules and biological agents (including antibodies), all of which prior to
the comparison to Program Antibodies have previously been identified as having activity against, binding to, agonizing, antagonizing
or inhibiting the applicable Target (provided, however, that negative controls already identified as such are permitted
to be used). Unless Kairos exercises the applicable Option, on expiry of the applicable Option Term, or earlier termination of
this Agreement, Kairos shall return to Adimab or destroy the remaining quantities of Program Antibodies provided by Adimab for
each Target, if Adimab requests in writing. Without limiting the generality of the foregoing, Kairos shall not provide Program
Antibodies to Third Parties who are in the commercial antibody discovery business, except as provided in Section 2.8(b) or the
last sentence of Section 2.8(c).

 

2.7
Use of Kairos Materials. Adimab shall not use Kairos Materials in any way other than to perform Adimab’s obligations
under a Research Program or pursuant to the license granted under this Agreement while such license is in effect. Adimab shall
not transfer the Kairos Materials to any Third Parties or outside of Adimab.

 

Kairos
retains title to the Kairos Materials, including all quantities of antigens that it provides under the Collaboration. Upon expiration
of the Research Term for each Research Program, or earlier termination of this Agreement, Adimab shall return to Kairos or, if
requested by Kairos in writing, destroy the remaining quantities of Kairos Materials provided for use in such Research Program.

 

2.8
Third Party Contractors and Collaborations. The following provisions of this Section 2.8 will not apply to Program Transactions
and any Third Parties involved therewith (including any Affiliates of any such Third Parties), before or after Option exercise,
nor to any Licensed Antibodies, Program-Benefited Antibodies or Products after Option exercise:

 

(a)
Fee-for-Service Contractors. Kairos may utilize the services of Third Party fee-for-service organizations, at its sole discretion
except as provided in Section 2.8(c), to perform its obligations under the Collaboration and to perform research in order to evaluate
Program Antibodies in order to determine whether to exercise one or more Options under this Agreement. Kairos’s agreement
with any such Third Party shall be consistent with the applicable terms of this Agreement (including Section 2.6), provide Adimab
the same rights under this Agreement as if Kairos had done the work itself, and include confidentiality and non-use provisions
that are no less stringent than those set forth in Article 6 of this Agreement.

 

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(b)
Collaborators. The Parties agree that it may be necessary or useful for Kairos to enter into collaborations with Third Parties
which are not fee-for-service contractors (as described in Section 2.8(a) above), which are not primarily in the commercial antibody
discovery business, and which provide services and/or Know-How and other intellectual property that are necessary or useful for
Kairos to perform its obligations under the Collaboration and/or to evaluate Program Antibodies in order to determine whether
to exercise one or more Options under this Agreement. Kairos’s agreement with any such Third Party shall contain (i) restrictions
on the use of Adimab Materials consistent with Section 2.6 (including the prohibition on using Program Antibodies in screening),
(ii) confidentiality and non-use provisions that are no less stringent than those set forth in Article 6 of this Agreement, and
(iii) provisions that ensure that any and all data and results arising out of the Third Party collaboration may be provided to
Adimab as and to the extent contemplated under this Agreement. Kairos shall use commercially reasonable efforts to ensure that
it obtains the right to assign, license or sublicense to Adimab any intellectual property rights arising out of the Third Party
collaboration that constitutes an Adimab Platform/Core Technology Improvement, or, if it believes it will not be practicable to
obtain such right to assign, license or sublicense to Adimab, then Kairos shall not disclose or transfer to the applicable Third
Party (x) any Adimab Confidential Information other than Program Antibody sequences or (y) any Adimab Materials other than Program
Antibody samples.

 

(c)
Commercial Antibody Discovery Businesses. In the event that a research arrangement is contemplated by Kairos that would be
with a Third Party that is primarily in the commercial antibody discovery business but not a collaborator as described in Section
2.8(b) above, in connection with the Collaboration or to evaluate Program Antibodies in order to determine whether to exercise
one or more Options under this Agreement, Kairos will contractually ensure that Program Antibody samples provided to such contract
research organizations will be used solely in testing that does not involve using the Program Antibodies in screening for the
activity or interaction of other antibodies via or with the applicable Target, even if the contract research organization may
perform antibody discovery activities in unrelated work for Third Parties; provided, however, that the arrangements with
the contract research organization are otherwise fully in compliance with Section 2.8(a). For clarity, it is the intention of
the Parties that a Third Party that is primarily in the commercial antibody discovery business shall not have the advantages or
benefits of Adimab Confidential Information, Adimab Materials or Program Antibodies in performing antibody discovery and optimization
services, apart from the Collaboration or to evaluate Program Antibodies.

 

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2.9
Non-Exploitation of Program Antibodies by Adimab (Unless Independently Discovered) At All Times. Unless independently rediscovered
in full compliance with Section 2.4(c) and without the use of (a) Kairos Materials, (b) Confidential Information of Kairos
(subject to Section 6.2(e) regarding independent development of such information), (c) any antibody library that is (A) used in
a Research Program for a Target for Kairos and (B) used for initial screening in antibody discovery to discover potential Program
Antibodies (in contrast to any antibody library used to optimize any antibodies discovered from any such initial screening) (any
such antibody library satisfying clause (A) and (B), a “Subject Antibody Library”) or any antibodies identified
therefrom (including Program Antibodies), or any of their partial or whole sequences, or (d) any Program Inventions or Program
Know-How to the extent solely owned by Kairos based on the terms of this Agreement (subject to Section 6.2(e)), Adimab and its
Affiliates shall not (i) provide the Program Antibodies or their (partial or whole) sequences to any Third Party at any time,
or any other antibody or their (partial or whole) sequences identified from any Subject Antibody Library, or (ii) use the Program
Antibodies, any other antibody identified from any Subject Antibody Library, or any of their (partial or whole) sequences to research,
develop, manufacture or commercialize biologic or drug products in the Field for Adimab, its Affiliates or for any Third Parties,
or (iii) perform any research, discovery or development using any Subject Antibody Library (other than under this Agreement),
or provide (by any means, such as sale, license or transfer), any Subject Antibody Library (or any portion thereof) to any others.
This clause is in no way intended to limit Adimab’s ability to transfer (including licensing) its Adimab Platform/Core Technology
(including antibody libraries) to other entities or for those entities to use the Adimab Platform Technology (including antibody
libraries), subject to the restrictions above regarding any Subject Antibody Library (in whole or in part) and antibodies identified
therefrom (including Program Antibodies), or any of their partial or whole sequences. Adimab is not under any circumstances required
by this Agreement to remove or screen out any antibodies (or coding sequences) from its antibody (or coding sequence) libraries,
but is limited with respect to any Subject Antibody Library as provided above. Adimab may independently regenerate such coding
sequences without use or reference to the Program Inventions and/or Program Know-How or any Subject Antibody Library, other than
any Adimab Platform/Core Technology Improvements (which nothing in this Agreement shall be read to restrict Adimab from using).
In the case of independent rediscovery as provided in the first sentence of this Section, Adimab shall be unrestricted in its
use of and ability to provide the applicable independently rediscovered and/or independently regenerated antibodies to others.

 

Article 3

LICENSES; OPTION; DEVELOPMENT & COMMERCIALIZATION

 

3.1
Mutual Research Program Licenses.

 

(a)
To Kairos. Adimab and its Affiliates hereby grant Kairos a non-exclusive license under the Adimab Platform/Background Patents,
Adimab Program Patents, Program Know-How and other Know-How transferred by Adimab to Kairos in the context of any Licensed Antibody,
for Kairos to perform Kairos’s responsibilities as provided for in the Research Plan as part of the Research Program during
the Research Term, and for Kairos to perform research (but excluding human clinical trials) of the Program Antibodies to each
Target during the Option Term for that Target in order to evaluate whether to exercise the Option with respect to that Target
and one (1) or more of such Program Antibodies directed to that Target. The foregoing license excludes the right to discover antibodies
and excludes the right to use Program Antibodies to screen for other antibodies’ activity vis-a-vis the Target (such exclusion
including the right to use the Program Antibodies as a control to test, screen for or design other antibodies), except that Kairos
may use such quantities to compare the performance of Program Antibodies in various in vitro and/or in vivo assays
against other Program Antibodies, and against benchmark research antibodies, benchmark commercial antibodies or any other benchmark
agent, including small molecules and biological agents (including antibodies), all of which prior to the comparison to Program
Antibodies have previously been identified as having activity against, binding to, agonizing, antagonizing or inhibiting the applicable
Target (provided, however, that that negative controls already identified as such are permitted to be used). The foregoing
license is subject to Kairos’s compliance with the restrictions on use of Adimab Materials set forth in Section 2.6.

 

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(b)
To Adimab. Kairos and its Affiliates hereby grant to Adimab a non-exclusive license under all Patents and Know-How (including
Program Patents and Program Know-How) Controlled by Kairos (or its Affiliate) and relating in any way to the Target for each Research
Program (including any that so relate by claiming antibodies directed to that Target or a mechanism of action via that Target)
or any Kairos Materials, for Adimab to perform Adimab’s responsibilities as provided for in the applicable Research Plan
as part of the applicable Research Program during the applicable Research Term. The foregoing license is subject to Adimab’s
compliance with the restrictions on use of Kairos Materials set forth in Section 2.7.

 

3.2 Kairos
Option. Adimab hereby grants Kairos the exclusive option (each, an “Option”) to obtain the licenses of Section
3.3 and assignment of corresponding Antibody Sequence Coverage for the corresponding Licensed Antibodies, exercisable in relation
to each Target by Kairos in its sole discretion upon written notice to Adimab on or before the expiry of the Option Term for such
Target. Kairos shall, in its written notice to exercise the Option, specify up to [***] Program Antibodies as the “Licensed
Antibodies” for that Target (or if the Option is exercised early, thereafter during the Collaboration Term but not to
exceed [***] in the aggregate). Subject to such Option exercise by Kairos on the terms provided herein, Adimab hereby assigns the
Antibody Sequence Coverage with respect to Licensed Antibodies to Kairos, which assignment shall occur automatically without any
further action required by either Party or any of their respective Affiliates. If, upon or after the filing or institution of bankruptcy,
reorganization, composition of creditors, arrangement, liquidation, or receivership proceedings by or against Adimab, or upon an
assignment of all or substantially all of Adimab’s assets for the benefit of creditors or any Third Party, or upon the appointment
of a receiver, administrative receiver or similar officer over all or substantially all of Adimab’s undertaking or assets,
or for any other reason (other than a material, uncured breach by Kairos of this Agreement), such assignment does not occur, then
such Antibody Sequence Coverage will be treated as part of the license grant set forth in Section 3.3, which license grant is granted
as of the Effective Date as a current license grant, subject only to the Option exercise by Kairos but not any other action by
Adimab.

 

3.3 Development/Commercialization
License. Adimab and its Affiliates hereby grant to Kairos for each Target, which may only be practiced after Option exercise
for that Target, a worldwide, royalty-bearing, sublicenseable (solely as provided in this Section) license under the relevant Adimab
Platform/Background Patents, Licensed Program Antibody Patents (to the extent owned by Adimab), and Program Know-How and other
Know-How transferred by Adimab to Kairos in the context of any Licensed Antibody, in the Field, to research, develop, make, have
made, use, sell, offer to sell, import and export Licensed Antibodies to such Target and Products based on Licensed Antibodies
to such Target during the term of this Agreement. Such license shall be exclusive (even as to Adimab, except as regards the retained
library rights of Section 5.2(c)) under the Licensed Program Antibody Patents (and for enforcement purposes under Section 5.7(a)
shall include the full scope of the Licensed Program Antibody Patents). Such license shall be non-exclusive under the Adimab Platform/Background
Patents, Program Know-How and other Know-How transferred by Adimab to Kairos in the context of any Licensed Antibody. Such license
shall be sublicensable through one (1) or more tiers of sublicensees without the need to obtain consent; provided, however,
that the sublicense agreement (a) is consistent with and subject to this Agreement, contains provisions that enable Kairos to comply
with its reporting obligations under this Agreement (e.g., reporting and audit provisions), (b) requires the sublicensee(s) at
each tier to indemnify Adimab on the same basis as provided for in Article 8 (and the sublicense shall provide that Adimab is a
third-party beneficiary of such indemnification obligation) and (c) shall provide that if Kairos makes the Royalty Election under
this Agreement with respect to the sublicense, then (i) such sublicense shall contain royalty payment obligations of the sublicensee
that are sufficient to cover the royalty payment obligations pursuant to Section 4.5 to Adimab of [***] of Net Sales made within
the scope of such sublicense and (ii) Adimab shall be an intended third-party beneficiary of such royalty payment obligations of
the sublicensee under such sublicense (without imposing any greater obligation on the sublicensee than imposed on Kairos under
this Agreement) and of the indemnification obligation required under clause (b). The requirements of the foregoing sentence as
to sublicensees shall also apply to all Program Transaction counterparties.

 

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3.4
Diligent Development and Commercialization.

 

(a)
Diligent Efforts. Kairos shall by itself or its Affiliates or by a Program Transaction(s), for each Target for which the Option
is exercised, devote Commercially Reasonable Efforts to preclinically and clinically develop, seek Marketing Authorization for,
and launch and actively commercialize at least one (1) Product containing a Licensed Antibody to such Target, for the Major Markets.

 

(b)
Reports. Annually, Kairos will provide Adimab with a written report summarizing Product progress in development and commercialization,
and Kairos’s and its Affiliates’ significant activities in that regard, on a Target-by-Target basis. If requested
by Adimab, Kairos shall meet with Adimab to discuss such report at least annually. Kairos shall make the following personnel available
for such meetings: the project leader (or equivalent) for Product development, and another person at VP level or above. These
meetings are not required of Third Party sublicensees or Program Transaction counterparties of Kairos or its Affiliates, or of
Kairos with respect to any Target for which all rights of Kairos under this Agreement with respect to Licensed Antibodies to such
Target have been out-licensed or transferred to Third Parties.

 

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3.5
Commitments Regarding Program-Benefited Antibodies.

 

(a)
Program-Benefited Antibodies. The Parties intend that if Kairos or its Affiliates pursue any antibody that is derived from
an antibody provided by Adimab under this Agreement (or which is discovered and/or optimized using an antibody provided by Adimab
under this Agreement other than as described in Section 2.8(c)), they shall do so under this Agreement paying fees to Adimab as
provided in Article 4 (and complying with all other provisions of Article 4, including notice requirements, in the same way as
such provisions apply to Program Antibodies). This Agreement gives Kairos and its Affiliates the right to modify the Licensed
Antibodies, by including modified versions of them and derivatives of them in the definition of “Product” provided
above. Kairos and its Affiliates shall also be entitled to use sequence-related information obtained under this Agreement to research,
develop and commercialize antibody products in the Field that are not Products; provided, however, that the Parties also
intend that Kairos and its Affiliates shall not develop or commercialize an antibody product that is (a) a Program Antibody, (b)
a derivative or modified version (as described above in this Section 3.5 or in the definition of Product) of a Program Antibody,
(c) discovered and/or optimized using an antibody provided by Adimab under this Agreement other than as described in Section 2.8(c),
or (d) based on the complete or partial sequence information as to any Program Antibody or the nucleic acid coding for it (such
complete or partial sequence information, “Specific Sequence Information”, and each of the foregoing (a) through
(d) in this sentence, a “Program-Benefited Antibody”), without exercising the applicable Option and paying
Adimab fees pursuant to Article 4 with respect to such Program-Benefited Antibody and/or product containing such Program-Benefited
Antibody as if such Program-Benefited Antibody were deemed a Licensed Antibody and such Program-Benefited Antibody product were
deemed a Product under this Agreement, subject to the remainder of this Section 3.5(a). For clarity, an antibody will not be deemed
a Program-Benefited Antibody or a Program Antibody solely as a result of the application or use of a Broad Target/Non-CDR Antibody
Invention, or any other Program Know-How or Program Invention owned solely or jointly by Kairos hereunder (other than Specific
Sequence Information), in the discovery, research, development, manufacture or commercialization of such antibody product. Kairos
shall comply with its regular reporting obligations as to Program-Benefited Antibodies as in Section 2.5(c). For clarity, an antibody
product will not be deemed a Program-Benefited Antibody or a Program Antibody solely because it is covered by a Broad Target/Non-CDR
Antibody Patent or Broad Target/Non-CDR Antibody Inventions; provided that Kairos makes the payments to Adimab provided
for in this Agreement in relation to Epitope Patents. An antibody product, including a benchmark research or commercial antibody,
and/or an antibody that was independently generated by Kairos or any of its Affiliates, for clarity, will not be deemed a Program-Benefited
Antibody or a Program Antibody due to (i) its application or use in biochemical in vitro or in vivo assays (including
the same biochemical in vitro or in vivo assays that were used for testing any Program-Benefited Antibodies or Program
Antibodies), or due to its application or use in indirect or direct comparison against any Program-Benefited Antibodies or Program
Antibodies, or (ii) without derogating from any of Kairos’s obligations regarding Adimab’s Confidential information
set forth in this Agreement, use of any information of Kairos or Adimab or any of their Affiliates, other than Specific Sequence
Information. For further clarity, the use of “discovered and/or optimized” in the clause (c) above does not refer
to the use of information (including any Specific Sequence Information, which is addressed in clause (d) above and in clause (c)),
but rather the use of any tangible antibody material provided by Adimab in experiments whereby another antibody is discovered
for the Target in question, or is optimized for the Target in question (such as by using a competitive antibody binding screening
assay using any such antibody provided by Adimab to identify another superior antibody to such Target).

 

(b) Covenant
Not to Sue. Except as provided in the last sentence of this Section, so long as Kairos and its Affiliates are in compliance
with Section 3.5(a) with respect to a Program-Benefited Antibody, Adimab shall not, directly or indirectly, assert any claim against
Kairos or its Affiliates, successors in interest, acquirers (whether of Kairos or of all or substantially all of the assets of
Kairos relating to the subject matter of this Agreement), licensees, sublicensees, other Program Transaction counter-parties, distributors
or end users, with respect to the research, development, manufacture, have manufacture, sale, offering for sale, import or export
of any product containing such Program-Benefited Antibody, for infringement of any [***]. The foregoing covenant shall be binding
on all of Adimab’s Affiliates and successors in interest under this Agreement, and any exclusive licensees, exclusive sublicensees,
and assignees of any [***] transferred by Adimab to Kairos in the context of any Licensed Antibody, regarding Licensed Antibody(ies),
and Adimab shall as a condition of assigning this Agreement, or providing the applicable exclusive license, exclusive sublicense
or assignment, obtain a contractual commitment from the applicable entity receiving rights to comply with such covenant. Such covenant
does not apply to any [***]. For purposes of this Section 3.5(b), [***] shall be interpreted as if the Program-Benefited Antibodies
were Licensed Antibodies. The covenant of this Section 3.5(b) shall not apply to activities after a termination of this Agreement
in its entirety or surrounding the Target to which the Program-Benefited Antibody relates, in each case for a Kairos uncured material
breach. This Section 3.5(b) shall not be read to allow, or prevent a suit by Adimab with respect to, Kairos’s practice of
Adimab Platform/Core Technology for antibody discovery or optimization purposes or for the practice of technology for any purpose
other than those described herein with respect to Program-Benefited Antibodies.

 

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Article 4

FINANCIAL TERMS.

 

4.1 Technology
Access Fee. Kairos shall pay Adimab a one-time technology access fee equal to [***], within three (3) Business Days after the
Effective Date.

 

4.2
Research Funding.

 

(a) Funding
Amounts. Kairos shall pay Adimab for the FTEs actually performing scientific work in each Research Program under the Collaboration
during the Collaboration Term at the FTE Rate; provided, however, that Kairos will not be responsible to fund any Adimab
FTEs in excess of an average of [***] per quarter during any calendar quarter of the Collaboration Term without Kairos’s
prior written consent in its sole discretion. Adimab acknowledges and agrees that the FTE Rate reflects Adimab’s fully-loaded
costs and expenses in performing its Research Program obligations under the Collaboration, and that except as explicitly set forth
herein Adimab is solely responsible for its internal and external costs and expenses in performing its obligations thereunder (provided
that Adimab shall not be required to devote FTEs to the Research Programs which FTEs are not funded by Kairos under this Section).
During all calendar quarters of the Target Nomination Period, Kairos is required to pay Adimab for a minimum of [***] FTEs in such
calendar quarter, even if Kairos does not provide Targets such that there are Target Research Programs for such FTEs to work on
or authorize Adimab to perform any “optional” research activities under a Research Plan as described in the last paragraph
of Section 2.2(d). In addition, Kairos shall reimburse Adimab for any external costs actually spent by Adimab related to the purchase
or production of antigen for use in a Research Program, provided Adimab has obtained Kairos’s prior written consent for any
such external costs.

 

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(b) Invoicing
and Payments. Payments under this Section shall be due quarterly in advance based on estimated FTE usage anticipated for
such calendar quarter, subject to true-up each quarter at the end of the quarter. If Kairos has paid for more FTEs than are
actually used in any calendar quarter, then any such overpayment shall be promptly refunded to Kairos or deducted from future
calendar quarter advance payments under this Section, in Kairos’s sole discretion. At least five (5) days prior to the
Start Date, and at least [***] days prior to the commencement of each calendar quarter during the Collaboration Term
thereafter, Adimab shall deliver to Kairos a detailed invoice stating the number of FTEs that are scheduled to perform
activities under the Collaboration during such calendar quarter. The first advance payment under this Section 4.2 shall be on
or prior to the Start Date (or five (5) days after receipt of the applicable invoice, if later) and shall be calculated on
the scheduled FTE usage for the period commencing on the Start Date and ending at the end of the calendar quarter in which
the Start Date occurs. Thereafter, each quarterly advance payment will be due on or prior to the [***] Business Day of each
calendar quarter during the Collaboration Term (or [***] days after receipt of the applicable invoice, if later) and shall be
calculated on the scheduled FTE usage for the upcoming calendar quarter. Within [***] days after the end of each calendar
quarter during the Collaboration Term Adimab shall deliver to Kairos a detailed invoice stating the number of FTEs that
actually performed activities under the Collaboration during the prior calendar quarter, the amount of any advance payments
made by Kairos (or credits due to Kairos) in respect of such activities, and any true-up amount due. All payments shall be
due within [***] days of Kairos’s receipt of the invoice.

 

4.3
Revenue Payments and Royalty Payments.

 

(a) Elections.
Within [***] days after a Program Transaction is entered into, Kairos shall inform Adimab in writing whether Kairos elects to pay
either (1) a share of Program Transaction Revenue with respect to such Program Transaction, as set forth in Section 4.4, or (2)
a royalty on Net Sales on Products sold pursuant to rights included in such Program Transaction, as set forth in Section 4.5. In
addition, at any time that is prior to the closing of a Kairos Change of Control, upon written notice to Adimab, Kairos may make
an irrevocable Royalty Election with respect to a Product as to which no Revenue Election has previously been made. Kairos is entitled
to make such election on a Program Transaction-by-Program Transaction basis. If no election under this Section 4.3(a) has been
made as of the date of First Commercial Sale of any given Product in any given country, then the Royalty Election shall automatically
be deemed made as to such Product in such country (and the Revenue Election shall not be an option as to such Product in such country).
If Kairos fails timely to elect either the Revenue Election or the Royalty Election, then the Royalty Election shall automatically
be deemed made for that Program Transaction.

 

(i)
Revenue Election. If Kairos elects to pay a share of Program Transaction Revenue with respect to such Program Transaction,
then it has made the “Revenue Election” with respect to the particular Program Transaction. Kairos shall, simultaneously
with such notice, disclose to Adimab a copy of all documents governing such Program Transaction, but shall be entitled to redact
from the copy shared with Adimab reasonable amounts of information not relevant to the determination of Program Transaction Revenue
or any allocation thereof pursuant to Section 4.3(c), (d) or (e) hereunder or confirmation that the agreements comply with this
Agreement (e.g., the requirement that sublicensees provide appropriate indemnification of Adimab).

 

    29

     

    

 

(ii)
Royalty Election. If Kairos elects to pay a royalty on Net Sales on Products sold pursuant to rights included in such Program
Transaction, then it has made the “Royalty Election” with respect to the particular Program Transaction. Kairos
shall disclose, simultaneously with such notice, a copy of all documents governing such Program Transaction, but shall in this
case be entitled to redact from the copy shared with Adimab reasonable amounts of information not relevant to the calculation
of royalties hereunder or to the confirmation that the agreements comply with this Agreement (e.g., the requirement that sublicensees
provide appropriate indemnification of Adimab).

 

(b)
Kairos Change of Control.

 

(i)
Undesignated Rights After a Kairos Change of Control. Unless the Parties agree otherwise in writing prior to the closing of
a Kairos Change of Control, then the Royalty Election shall automatically be made for all Undesignated Rights transferred pursuant
to such Kairos Change of Control.

 

(ii)
Undesignated Rights Prior to a Kairos Change of Control. At any time prior to a Kairos Change of Control, Kairos may notify
Adimab in writing of its desire to elect to pay Adimab the specified percentage of Program Trade Sale Proceeds provided below
in lieu of the Royalty Election automatically applying with respect to such Undesignated Rights.

 

(iii)
Prior Revenue Election. After a Kairos Change of Control, Revenue Elections for pre-existing (prior to the Kairos Change of
Control) Program Transactions with Third Parties will continue to apply only for so long as such rights remain with the Third
Party (and if such rights ultimately revert to Kairos or its successor, then they shall be subject to the Royalty Election) and
there shall be no offset of payments already made to Adimab in respect of such pre-existing Program Transaction against royalties
due to Adimab under such Royalty Election. Furthermore, if the counterparty to the Kairos Change of Control was (or its Affiliate
was) a counterparty to a Program Transaction for which a Revenue Election or Royalty Election was previously made, then Kairos
shall be required to make the same election for the Kairos Change of Control as was made for such Program Transaction unless Adimab
agrees otherwise in writing in its sole discretion.

 

(c) Allocation
of Revenue. Adimab and Kairos shall each be reasonably available to negotiate in good faith the determination of (i) Program
Trade Sale Proceeds (in the case of a Kairos Change of Control) and (ii) Program Transaction Revenue which is Multi-Product Deal
Program Transaction Revenue (in the case of a Multi-Product Deal) based on the proportion of the Program Transaction Revenue which
is allocable to Licensed Antibodies and Products. If despite good faith efforts the Parties are unable to agree upon such determinations
within such [***] day period, then Kairos may request that a Third Party determine such the allocation in accordance with Section
10.2. As part of such negotiation or arbitration, the Parties shall value Combination Products, if applicable, pursuant to the
principles set forth in Section 4.5(d).

 

(d)
Finality of Election. Once Kairos makes either the Revenue Election or the Royalty Election with respect to a particular Program
Transaction (or the Royalty Election is deemed made), this election is irrevocable as to the particular Program Transaction. To
avoid doubt, this means that if the surviving or acquiring entity later licenses rights to Licensed Antibodies transferred pursuant
to the Kairos Change of Control to a Third Party, the Royalty Election shall continue to apply to such Licensed Antibodies, and
the surviving or acquiring entity will not have the opportunity to elect otherwise hereunder.

 

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(e)
Program Transaction Confidentiality. All Program Transaction documents provided by Kairos to Adimab and the terms and information
contained therein shall be Confidential Information of Kairos subject to the provisions of Article 6.

 

(f)
No Double-Counting. If Kairos enters into a Kairos Change of Control or a Program Transaction, and the counterparty
(or an Affiliate of such counterparty) already has an agreement with Adimab (or any of its Affiliates or licensees), then only
one agreement shall be applicable to any Products hereunder, so that, among other things, no payments will be owed under both
this Agreement and such other agreement with respect to any such Products. The agreement applicable to a given Product shall be
that agreement has the closest relationship to any Product in question based on how Product was discovered and developed.

 

(g) Election
for Epitope Patent Compensation. For Epitope Patent-Only Transactions, Kairos may elect to pay to Adimab an amount equal to
[***] (“Epitope Patent Compensation”), and if Kairos does so, then Kairos shall not owe any share of Program
Transaction Revenue with respect to such Epitope Patent-Only Transaction, and shall not owe any Net Sales royalties with respect
to Net Sales within the scope of such Epitope Patent-Only Transaction. Such payment shall be made within [***] days after such
Epitope Patent-Only Transaction. Notwithstanding anything express or implied in the foregoing, paying the Epitope Patent Compensation
shall not result in any reduction in Program Transaction Revenue payable in case of another Program Transaction relating to the
same Target with the same counterparty (including an Affiliate of the contracting entity), but, for clarity, if the Epitope Patent-Only
Transaction is later treated as, or part of, a Program Transaction, then any Epitope Patent IP Compensation will be credited against
payments owed by Kairos for such Program Transaction hereunder provided the same Target is the subject of such Program Transaction.
If Kairos does not timely pay the Epitope Patent Compensation for any Epitope Patent-Only Transaction, then such Epitope Patent-Only
Transaction shall be treated as any other Program Transaction for purposes of this Agreement and there shall be no reduction of
any kind to Program Transaction Revenue associated therewith if Kairos makes the Revenue Election with respect to such Program
Transaction. To avoid doubt, if a Program Transaction includes Epitope Patents (including the situation in which an Epitope Patent-Only
Transaction is deemed part of a Program Transaction because entered into contemporaneously with, or regardless of timing, with
the same counterparty (with counterparty having the same meaning as provided above) and relating to the same Target as, other elements
of the Program Transaction), there shall be no adjustment or reduction of Program Transaction Revenue in relation to the Epitope
Patents.

 

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4.4
Program Transaction Revenue Payments. If the Revenue Election applies, then Kairos shall pay to Adimab the percentage specified
below of all Program Transaction Revenue in connection with Program Transactions for which the Revenue Election is made (other
than Multi-Product Deals); and the percentage specified below of Multi-Product Deal Program Transaction Revenue for all Multi-Product
Deals for which the Revenue Election is made, in each case on a transaction-by-transaction basis for each calendar year. Accordingly,
the percentages in the following table shall apply to each Program Transaction and to each Multi-Product Deal, on all Program
Transaction Revenue and all Multi-Product Deal Program Transaction Revenue for each such transaction, respectively, on a transaction-by-transaction
and calendar year-by-calendar year basis:

 

	Aggregate
    revenue for each such transaction for each calendar year	Percentage

        (as
        a percentage of Program Transaction Revenue or Multi-Product Deal Program Transaction Revenue, as applicable)

	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]	[***]

 

By way of example, and without limitation,
if the aggregate Program Transaction Revenue for a Program Transaction in a particular calendar year is [***], the amount payable
under this Section 4.4 shall be as follows: [***].

 

The
amounts due under this Section 4.4 shall be payable on an ongoing basis within sixty (60) days after the calendar month in which
Program Transaction Revenue or Multi-Product Deal Program Transaction Revenue, as the case may be, is received.

 

4.5
Royalty Payments. If the Royalty Election applies, then:

 

(a)
Royalty Rate for Products. Kairos shall pay Adimab royalties at the royalty rate set forth below of Net Sales of each Product
during the applicable Royalty Term, determined on a country-by-country and Product-by-Product and calendar year-by-calendar year
basis in accordance with Section 4.5(b):

 

	Aggregate calendar year Net Sales for each Product	
        Royalty Rate

        (as a percentage of Net Sales)

	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]	[***]

 

By
way of example, and without limitation, if the aggregate Net Sales of a Product in a particular calendar year is $[***], the amount
of royalties payable under this Section 4.5(a) shall be as follows: [***].

 

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(b)
Royalty Term. “Royalty Term” means, on a Product-by-Product and country-by-country basis, the time from
the First Commercial Sale of such Product in such country until the twelve (12) year anniversary of the First Commercial Sale
of such Product in such country.

 

(c) Adjustment
for Third Party Patents. If Kairos in-licenses any issued Patent owned by a Third Party (that does not comprise Adimab Platform/Background
Patents or Adimab Program Patents) the practice of which Kairos reasonably determines is necessary to as a result of Adimab’s
discovery and/or optimization of a Licensed Antibody, then Kairos shall have the right to credit against the payments due to Adimab
upon Net Sales of a Product in a country in a calendar quarter [***] of the payments actually paid by Kairos to such Third Party
with respect to such patent(s) in-licensed by Kairos under this Section; provided, however, that such credit shall not
reduce any amount payable to Adimab hereunder for any Product to less than [***] of the amount that would otherwise be payable
to Adimab for such Product in such calendar quarter. In the event that [***] of the aggregate amounts paid for Patent(s) pursuant
to this Section exceed the amount by which Kairos may credit and offset any particular payment to Adimab hereunder (including
by reason of the fact that no payments are then owed to Adimab), Kairos shall be entitled to carry forward the excess to offset
against any future payments due to Adimab hereunder. 

 

(d) Combination Products
Adjustment. If Kairos, its Affiliate, their successors or the Product marketer of any of them under a Program Transaction
for which the Royalty Election has been made sells a Combination Product, then Net Sales for such Combination Product shall be
calculated as (i) [***] of actual Net Sales (if neither clause (ii) nor clause (iii) applies); (ii) the percentage of Net Sales
(or formula to calculate such percentage) mutually agreed in writing by the Parties in advance of First Commercial Sale, if the
Parties mutually agree in writing to such percentage (or formula to calculate such percentage); and (iii) if the Parties have
failed to agree on such percentage in writing within [***] days after Kairos in writing requests discussions, then the percentage
of Net Sales shall be determined by arbitration under Section 10.2(b).

 

(e) Adjustment for
Compulsory License. If a compulsory license is granted to a Third Party with respect to any Product in any country in the
Territory with a royalty rate lower than the applicable royalty rate set forth in this Section 4.5, and this results in a sublicense
by Kairos or its Affiliate to the compulsory licensee in a country and with respect to a Product for which the Royalty Election
has been made, then the royalty rate to be paid by Kairos on Net Sales in that country by the compulsory licensee will be reduced
to [***] of the rate paid by the compulsory licensee. The royalty rate on Net Sales of such Product by entities other than the
compulsory licensee in such country shall be unaffected by the compulsory license.

 

(f)
Other Royalty Provisions. Only one royalty will be due with respect to the same unit of Product, even if such Product unit
is comprised of more than one Licensed Antibody or any modified or derivative forms thereof. No royalties will accrue on the sale
or other disposition of the Product by Kairos or its Affiliates, licensees or sublicensees for use in a clinical study sponsored
or funded by Kairos or its Affiliates, licensees or sublicensees.

 

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4.6
Payment Timings. All Net Sales royalties due under Section 4.5 shall be paid quarterly, on a country-by-country basis, within
[***] days after the end of the relevant calendar quarter for which royalties are due.

 

4.7
Royalty Payment Reports. With respect to each calendar quarter, within [***] days after the end of the calendar quarter,
Kairos shall provide to Adimab a written report stating the number and description of all Products sold during the relevant calendar
quarter; the gross sales associated with such sales; and the calculation of Net Sales on such sales, including the amount of any
deduction provided for in the definition of Net Sales in Article 1. The report shall provide all such information on a country-by-country
and Product-by-Product basis. If applicable, Kairos shall also include in these reports a statement of all Program Transaction
Revenue share payments due for the quarter, showing the calculation of the total consideration received in connection with Program
Transactions for which the Revenue Election has been made, any and all deductions in accordance with the definition of Program
Transaction Revenue (with supporting detail), net Program Transaction Revenue, and Adimab’s share. Program Trade Sale Proceeds
from a Kairos Change of Control, and the calculation of such Program Trade Sale Proceeds, shall similarly be included in these
reports.

 

4.8
Milestones. Subject to Section 4.9, Kairos shall make milestone payments to Adimab based on achievement by Kairos, its Affiliate
or a counterparty to a Program Transaction or a Multi-Product Deal, as applicable, of the following milestone events:

 

	Milestone Event	Milestone Payment
	[***]	[***]
	[***]	[***]
	[***]	[***]

 

Each
milestone payment in the foregoing table shall be paid only once with respect to each Target, no matter how many Program Antibodies/Products
for such Target ultimately achieve the applicable milestone event.

 

On
a Target-by-Target basis, if development of a first Program Antibody/Product is terminated and such first Program Antibody/Product
is replaced with a second Program Antibody/Product and Kairos paid any milestone payments owed to Adimab pursuant to this Section
4.8 with respect to any milestone events achieved with the first Program Antibody/Product (the “Paid/Achieved Event”),
then when and if the second (or third etc.) Program Antibody/Product achieves any such Paid/Achieved Events, no corresponding
milestone payment shall be due with respect to such achievements but any remaining unpaid milestone payment would be due upon
the achievement of that milestone event by the second (or third etc.) Program Antibody/Product. In the event that any milestone
event is achieved with respect to a Target, and a prior milestone event is not a Paid/Achieved Event with respect to such Target,
Kairos shall pay Adimab with respect to all milestone events for such Target, up to and including the most recently achieved milestone
event. For example, if the first patient is dosed with a Program Antibody/Product in a [***] and neither the commencement of a
[***] is a Paid/Achieved Event with respect to such Target, Kairos shall pay Adimab [***] for achievement of the [***] milestone
event plus [***] for the achievement of such [***] milestone event.

 

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For
purposes of this Section 4.8:

 

“Phase
I Trial” shall mean a human clinical trial in any country that is intended to initially evaluate the safety and/or pharmacological
effect of a Product in subjects that would otherwise satisfy requirements of 21 C.F.R. 312.21(a), or its foreign equivalent.

 

“Phase
II Trial” shall mean a human clinical trial in any country that is intended to initially evaluate the effectiveness
of a Product for a particular indication or indications in patients with the disease or indication under study that would otherwise
satisfy requirements of 21 C.F.R. 312.21(b), or its foreign equivalent.

 

4.9
Deferred Payment Option. The milestone payments with respect to the milestone events set forth in Section 4.8 shall be deemed
met and accrue when each such milestone event is achieved for a given Program Antibody/Product. Kairos may make the corresponding
milestone payment in accordance with Section 4.8, or provide written notice prior to the due date for such milestone payment of
its election to delay payment of such amount until the earlier of (i) the start of either a pivotal phase II clinical trial (meaning
a phase II clinical trial that is expected, if successful, to be the final clinical trial conducted prior to the submission of
an application for Marketing Approval) or a phase III clinical trial for such Program Antibody/Product, (ii) a Program Transaction
with respect to such Program Antibody/Product, or (iii) a Kairos Change of Control. If Kairos delays any such payment in accordance
with this Section 4.9, Kairos shall pay Adimab, on the first business day of every calendar year, simple interest (each, an “Interest
Payment”) accrued on such amounts at a rate of [***] per annum (calculated on a daily basis), from the date
Kairos provided notice of its election to delay payment until such milestone payments and any interest thereon are paid in full;
provided, however, that if Kairos ceases all research and development activities with respect to all Program Antibodies/Products
against the same Target for which a payment is delayed pursuant to this Section 4.9 (other than as a result of a Program Transaction
with respect thereto or a Kairos Change of Control), then Kairos shall not be obligated to make such Interest Payment and the
corresponding milestone payment shall be waived, forever and finally; provided, further, however, that in the event that
Kairos subsequently resumes research or development on any Program Antibodies/Products against such Target or enters into a Program
Transaction with respect thereto or a Kairos Change of Control, Kairos shall immediately pay to Adimab any unpaid Interest Payments
and the corresponding milestone payment shall again be due and payable again on the terms specified in clauses (i) through (iii_
above (including any interest which has accrued on such Interest Payments during the period since Kairos last made an Interest
Payment to Adimab with respect to such Target), and Kairos shall resume the payment of Interest Payments on the first business
day of the next calendar year, if applicable.

 

4.10
Payment Method. All payments due under this Agreement to Adimab shall be made by bank wire transfer in immediately available
funds to an account designated by Adimab. All payments hereunder shall be made in the legal currency of the United States of America,
and all references to “$” or “dollars” shall refer to United States dollars (i.e., the legal
currency of the United States).

 

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4.11
Taxes. Kairos shall be responsible to pay and may withhold from payments made to Adimab under this Agreement any taxes required
to be withheld by Kairos under applicable law. Accordingly, if any such taxes are levied on such payments due hereunder (“Withholding
Taxes”), Kairos shall (a) deduct the Withholding Taxes from the payment amount, (b) pay all applicable Withholding Taxes
to the proper taxing authority, and (c) send evidence of the obligation together with proof of tax payment to Adimab within [***] days following that tax payment.

 

4.12
Records; Inspection.

 

(a) Each
Party and its relevant Affiliates, licensees and sublicensees (“Related Parties”) shall keep and maintain
(in conformity with the Accounting Standards), for a period of [***] calendar years following the end of each calendar year
during the term of this Agreement, complete and accurate records to enable amounts payable under this Agreement to be
determined. Each Party (the “Auditing Party”) shall have the right, [***] per calendar year and only
[***] with respect to the records for any given accounting period, to have an independent, certified public accounting firm
reasonably acceptable to the other Party (the “Audited Party”) review any such records in the location(s)
where such records are maintained by the Audited Party or any of its relevant Related Parties upon reasonable notice (which
shall be no less than [***] days prior written notice) and during regular business hours for the sole purpose of verifying
the basis and accuracy of payments under this Agreement within the [***] most recent calendar years as of the date of the
request for review. Prior to any review, the independent certified public accounting firm shall have entered into a written
agreement with the Audited Party or its relevant Related Parties limiting the use of such records to verification of the
accuracy of payments due under this Agreement and prohibiting the disclosure of any information contained in such records to
a Third Party for any purpose and to the Auditing Party for a purpose other than as set forth in this Section 4.12. The
report of such accounting firm shall be limited to a certificate stating whether any report made or invoice or payment
submitted by the Audited Party during such period is accurate or inaccurate and the actual amounts owed by or due under this
Agreement to the Auditing Party for such period. After review of the certified public accounting firm’s report, the
Audited Party shall promptly pay any understated amounts due to the Auditing Party, together with any interest owed thereon
pursuant to Section 4.16. Any overpayment made by a Party shall be fully creditable against amounts payable in subsequent
payment periods or promptly refunded, at the overpaid Party’s election. Any review or audit by an independent certified
public accounting firm under this Section 4.12 is to be made at the expense of the Auditing Party, except that if the results
of the review reveal that the Audited Party has underpaid (or in the case where Adimab is the Audited Party, overbilled) by
[***] or more for the period under review, then the reasonable costs of such audit shall be paid promptly by the Audited
Party. 

 

(b)
The Parties agree that, as between Adimab and Kairos, (x) all information provided in a royalty payment report, all records
kept by Kairos or any relevant Related Party of Kairos under Section 4.12, and any information provided by the independent certified
public accounting firm to Adimab are Confidential Information of Kairos, and (y) vice versa for Adimab regarding the records
kept by it and its Related Parties and the information reported by the independent certified public accounting firm to Kairos.

 

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(c)
Notwithstanding subsection (a), any audit of Adimab FTE records shall occur within 12 months after the end of the calendar
year to which the records relate or shall be deemed irrevocably waived.

 

4.13
Licensee/Sublicensee Reports, Records and Audits. If Kairos grants any Product licenses or sublicenses, the agreements for
such licenses and sublicenses shall include an obligation for the sublicensee to (a) maintain records adequate to document and
verify the proper payments (including milestones and royalties) to be paid to Adimab; (b) provide reports with sufficient information
to allow such verification; and (c) allow Adimab (or Kairos if requested by Adimab) to verify the payments due; provided, however,
that such audit right is not required to be any stronger than that of Section 4.12).

 

4.14
Foreign Exchange. If any currency conversion shall be required in connection with the calculation of amounts payable hereunder,
such conversion shall be made using the rate of exchange (a) used by Kairos (or the selling entity) for its own financial reporting
purposes in its worldwide accounting system (which shall be consistent with Accounting Standards) prevailing on the [***] to the
last Business Day of the month preceding the month in which such sales are recorded, if Kairos (or the selling entity) is a public
company; or (b) if Kairos is not a public company, then shall be determined the same way except that the rates shall be the average
of the purchase and sale rates for U.S. Dollars for such day as reported by The Wall Street Journal, Eastern Edition. With
any payment in relation to which a currency conversion is performed to calculate the amount of payment due, Kairos shall provide
to Adimab a true, accurate and complete copy of the exchange rates used in the calculation.

 

4.15
Non-refundable, non-creditable payments. Each payment that is required under this Agreement is non-refundable and non-creditable.

 

4.16
Late Payments. Any amount owed by a Party to the other Party under this Agreement that is not paid within the applicable time
period set forth herein will accrue interest at the rate of [***], or, if lower, the highest
rate permitted under applicable law.

 

Article 5

INTELLECTUAL PROPERTY

 

5.1
Ownership of Program Patent and Program Know-How.

 

(a)
Ownership of Program Patents. Adimab shall solely own, regardless of inventorship (but subject to Kairos owning Kairos Program
Inventions as provided under the definition of Broad Target/Non-CDR Antibody Inventions), all Program Patents that claim Adimab
Platform/Core Technology Improvements and, until and unless Kairos exercises the Option for a given Target, Adimab shall own the
Antibody Sequence Coverage on all Program Antibodies to such Target. Kairos shall solely own, the Broad Target/Non-CDR Antibody
Patents, all Program Patents that Cover Broad Target/Non-CDR Antibody Inventions, and from and after the date that Kairos exercises
the Option for a given Target, the Antibody Sequence Coverage on the Licensed Antibodies to such Target (but, to be clear, Adimab
shall own the Antibody Sequence Coverage on the other Program Antibodies to such Target, subject to Section 5.4(b)). Notwithstanding
the foregoing, neither Adimab nor Kairos shall practice or license others to practice the Antibody Sequence Coverage in activities
that are outside the scope of the license to Kairos in Section 3.3). Other than (1) Program Patents that claim Adimab Platform/Core
Technology Improvements, (2) Program Patents that claim Broad Target Inventions/Non-CDR Antibody, (3) Antibody Sequence Coverage,
and (4) Broad Target Patents, Program Patents (including, for clarity, Program Antibody Patents) shall be owned based on inventorship.

 

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(b)
Filing of Program Patents. Notwithstanding Kairos’s ownership of the Broad Target/Non-CDR Antibody Patents, and without
modifying the definition of Broad Target/Non-CDR Antibody Patents, in case independent claims are filed that would take a given
Patent outside the definitions of the foregoing term, Kairos (and those deriving rights from Kairos) shall not include in any
Broad Target/Non-CDR Antibody Patent any Program Antibody CDR-Specific Claims, without Adimab’s advance written withholdable
consent, but shall - subject to the non-disclosure requirements of Section 5.4(b)(ii) - be entitled to include Program Antibody
CDR-Specific Claims that are dependent (as opposed to independent).

 

(c)
Ownership of Program Know-How. Program Know-How that constitutes Adimab Platform/Core Technology Improvements shall be owned
by Adimab (but subject to Kairos owning Kairos Program Inventions as provided under the definition of Broad Target/Non-CDR Antibody
Inventions). Until and unless Kairos exercises the Option for a given Target, other than Broad Target/Non-CDR Antibody Inventions,
Adimab shall own Program Know-How to the extent that such Program Know-How relates exclusively to Program Antibodies; provided,
however, that after such Option exercise, Kairos shall own such Program Know-How with respect to any Licensed Antibodies (but,
to be clear, Adimab shall own such Program Know-How on the other Program Antibodies, subject to Section 5.4(b)). Broad Target/Non-CDR
Antibody Inventions shall be owned by Kairos. All other Program Know-How shall be owned by the Party that created it.

 

5.2
Implementation.

 

(a)
Assignments. Each Party hereby assigns to the other Party Program Inventions, associated Patents, and Program Know-How as
necessary to achieve ownership as provided in Section 5.1. Each assigning Party shall execute and deliver all documents and instruments
reasonably requested by the other Party to evidence or record such assignment or to file for, perfect or enforce the assigned
rights. Each assigning Party hereby appoints the other Party as attorney-in-fact solely to execute and deliver the foregoing documents
and instruments if such other Party after making reasonable inquiry does not obtain them from the assigning Party. Each Party
(and its Affiliates) shall perform its activities under this Agreement through personnel who have made a similar assignment and
appointment to and of such Party or its Affiliate. Each assigning Party shall make its relevant personnel (and their assignments
and signatures on such documents and instruments) reasonably available to the other Party for assistance in accordance with this
Article at no charge.

 

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(b)
Provisions Relating to Program Antibody Patents; Joint Ownership Implementation.

 

(i)
Program Antibody Patents. Subject to Adimab’s rights under Section 5.2(c), neither Party is entitled to practice or
license any Program Antibody Patent that is not a Licensed Program Antibody Patent without consent of and without a duty of accounting
to the other Party; except that (x) Adimab may practice such Program Antibody Patents within the scope of its license under Section
3.1(b) and (y) Kairos (and others) may practice such Program Antibody Patents within the scope of its license under Section 3.1(a)
and covenant not to sue under Section 3.5(b).

 

(ii)
Licensed Program Antibody Patents. Subject to Adimab’s rights under Section 5.2(c) and the financial obligations set
forth in this Agreement, neither Party is entitled to practice or license any Licensed Program Antibody Patent without consent
of and without a duty of accounting to the other Party; except that Kairos is free to practice or sublicense all Licensed Program
Antibody Patents within the scope of its license and covenant not to sue for the applicable Licensed Antibodies, Program-Benefited
Antibodies and Products under Sections 3.3 and 3.5(b) while such license or covenant not to sue is in effect with respect to such
Licensed Antibodies, Program-Benefited Antibodies and Products.

 

(iii)
Joint Serendipitous Inventions. As regards Joint Serendipitous Inventions and the Program Patents to the extent claiming them,
each Party is entitled to practice and license them without consent of and without a duty of accounting to the other Party in
accordance with the co-ownership rights of co-inventors under U.S. law. Each Party hereby grants all permissions, consents and
waivers with respect to, and all licenses under, the Joint Serendipitous Inventions and the Program Patents claiming them, as
necessary to achieve throughout the world the nature of joint ownership rights of the foregoing as described in the foregoing
sentence. To avoid doubt, this Section does not imply any permission, consent or waiver with respect to, or license under, any
Patent or item of Know-How other than the Joint Serendipitous Inventions and the Program Patents to the extent claiming them.

 

(c)
Reserved Rights for Adimab Antibody Library. Without limiting any licenses or other rights granted to Kairos under this Agreement
with respect to any Program Antibodies, Licensed Antibodies, Products or Program-Benefited Antibodies, it is understood and agreed
that Adimab is not required to physically remove from its libraries, or to prevent from being included in future libraries, any
Program Antibodies whatsoever, and, accordingly, Kairos hereby recognizes that Adimab reserves a non-exclusive, worldwide, royalty-free,
freely sublicenseable right under Program Antibody Patents: (i) for Program Antibodies to be included in antibody library(ies)
transferred or licensed by Adimab to Third Parties, even recognizing that in such transactions Adimab may transfer physical possession
of, knowingly or unknowingly, samples of Program Antibodies (other than samples of Program Antibodies generated under this Agreement)
in conjunction with an antibody library to a Third Party as part of such transactions (and without implying any license from Adimab
or Kairos to cover clinical development or commercialization of the Licensed Antibodies of this Agreement by library licensees);
and (ii) to conduct any activity with respect to Program Antibodies and Program-Benefited Antibodies that are not Licensed Antibodies
(or any Program-Benefited Antibodies based thereon) after the end of the applicable Option Term; provided, however, that
Adimab complies with, and arrives at such non-Licensed Antibodies (or any Program-Benefited Antibodies based thereon) in a manner
fully compliant with, Adimab’s covenants and obligations in this Agreement (including the restrictions on Subject Antibody
Libraries contained herein), and further independently discovers the applicable antibodies.

 

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5.3
Disclosure. During the term of the Agreement, each Party shall promptly disclose to the other Party the making, inventing,
discovery, conception or reduction to practice by or on behalf of such Party of any (A) Program Inventions that would be Covered
by Program Antibody Patents, or in Kairos’s case that are Adimab Platform/Core Technology Improvements (which, to avoid
doubt, are assigned to Adimab by this Agreement) or in Adimab’s case that are Program Inventions that would properly be
claimed in an Broad Target/Non-CDR Antibody Patent, or that are Broad Target/Non-CDR Antibody Inventions (which, to avoid doubt,
are assigned to Kairos by this Agreement), and (B) any other Program Know-How to the extent such Program Know-How is owned by
the other Party. Such disclosure shall occur as soon as possible, but in any case within [***] days after the Party determines
such Program Inventions or Program Know-How has been made, invented, discovered, conceived or reduced to practice. To avoid doubt,
this Section shall not be read to require Adimab to disclose Program Inventions constituting Adimab Platform/Core Technology Improvements
to Kairos or to require Kairos to disclose Program Inventions constituting Broad Target/Non-CDR Antibody Inventions to Adimab.
Notwithstanding the above, in no event shall Kairos be required to correlate or provide information that correlates functional
activity data to any antibody sequences. In no event shall Kairos be required to provide information on specific biological activities,
which of the Licensed Antibodies is associated with given biological activities, and/or which of the Licensed Antibodies has been
chosen as drug lead.

 

5.4
Patent Prosecution and Maintenance.

 

(a)
Adimab Platform/Core Technology, Broad Target/Non-CDR Antibody Inventions and Broad Target/Non-CDR Antibody Patents. Adimab
shall have the sole right (but not the obligation) to file, prosecute, maintain, defend and enforce all Program Patents that claim
Adimab Platform/Core Technology Improvements and all Adimab Platform/Background Patents, all at its own expense. Kairos shall
have the sole right (but not the obligation) to file, prosecute, maintain, defend and enforce all Broad Target/Non-CDR Antibody
Patents and Program Patents that claim Broad Target/Non-CDR Antibody Inventions, all at its own expense.

 

(b)
Program Antibody Patents.

 

(i)
Kairos shall have the sole right (but not the obligation) to file and prosecute all Program Antibody Patents, all at Kairos’s
expense, including the costs of all foreign and PCT filings. Adimab will have the opportunity to review and comment upon any patent
applications and correspondence related to preparing and prosecuting such Program Antibody Patents. Kairos shall incorporate Adimab’s
reasonable comments and shall confer and reasonably discuss with Adimab any concerns Kairos has with Adimab’s comments and
seek to resolve the concerns by mutual agreement. Kairos shall give Adimab no less than [***] days to comment on each draft
filing or patent office correspondence in connection with the foregoing prosecution. If additional documentation is required in
order for Kairos to exercise its rights under this paragraph, then the Parties’ respective patent counsel shall reasonably
cooperate as to the form of such additional documentation and Adimab shall provide such required additional documentation (which
may include a power of attorney).

 

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(ii)
Prior to applicable Option exercise, Kairos shall not file any Program Antibody Patent that cannot be prevented from publishing,
but shall have the right to file Patents on Broad Target/Non-CDR Antibody Inventions and Broad Target/Non-CDR Antibody Patents,
regardless of whether or not they can be prevented from publishing; provided, in the case of Patents on Broad Target/Non-CDR
Antibody Inventions and Broad Target/Non- CDR Antibody Patents, that if they cannot be prevented from publishing, they do not
disclose Program Antibody sequences. If Kairos pursuant to the foregoing sentence files any Patents on Broad Target/Non-CDR Antibody
Inventions or any Broad Target/Non-CDR Antibody Patents that in either case contain Program Antibody sequences, then until and
unless Kairos exercises the applicable Option, Kairos shall timely prevent such Patents from publishing (including by abandoning
such patent application if necessary), to the degree that it is legally possible, and after Option exercise Kairos shall only
allow them to publish to the extent that the Program Antibody sequences that they contain are Licensed Antibody sequences.

 

(iii)
If the Option for a Target is exercised by Kairos, then Kairos shall abandon those Program Antibody Patents that Cover or
disclose Program Antibody sequences to the extent that such Program Antibodies are not Licensed Antibodies and Adimab shall have
no right to file, prosecute or maintain such claims. If the Option Term for a Target expires without Kairos exercising the applicable
Option, then Program Antibody Patents that Cover or disclose the Program Antibodies to such Target shall be abandoned, and Kairos
shall no longer have the right to file, prosecute or maintain such claims. Without Kairos’s prior written consent, Adimab
may not use any Confidential Information or Program Know-How of Kairos, or any Program Know-How of Adimab, unless in each case
independently developed in a manner in compliance with the terms of this Agreement (including the restrictions on Subject Antibody
Libraries contained herein), to seek (or have or license any others to seek) any claims in any Patents which Cover or disclose
Program Antibody sequences.

 

(c)
Licensed Program Antibody Patents. If Kairos exercises the Option as to any Target then the following applies to all Licensed
Program Antibody Patents that Cover Program Antibodies to such Target:

 

(i) Kairos
will use Commercially Reasonable Efforts to prepare, file and prosecute the Licensed Program Antibody Patents. Kairos shall not
be entitled, in the Licensed Program Antibody Patents, to seek claims directed to Program Antibodies other than Licensed Antibodies.
Adimab will have the opportunity to review and comment upon any patent applications and correspondence related to preparing and
prosecuting such Licensed Program Antibody Patents. Kairos shall use Commercially Reasonable Efforts to prepare and prosecute with
the goal of obtaining issued valid coverage for the Licensed Antibodies through the Licensed Program Antibody Patents to the extent
reasonably possible to obtain. Kairos shall incorporate Adimab’s comments to the extent they are reasonable and reasonably
consistent with such goal and shall confer and reasonably discuss with Adimab any concerns Kairos has with Adimab’s comments
and seek to resolve the concerns by mutual agreement. Kairos shall give Adimab no less than [***] days to comment on each draft
filing or patent office correspondence in connection with the foregoing prosecution.

 

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(ii)
Kairos shall cause to be filed and shall maintain, to the extent legally practicable, at least one (1) Licensed Program Antibody
Patent in the Major Markets and all other countries where consistent with Commercially Reasonable Efforts to do so.

 

(iii)
It is understood and agreed that searching for, identification and evaluation of Third Party Patents that may apply to any
Program Antibodies based on sequence, Target or the like is the responsibility of Kairos and Adimab shall have no responsibility
for the foregoing nor liability if any such Third Party Patents exist. Adimab shall be fully responsible and liable for any breach
of any representation and warranty by it with respect to Third Party Patents as set forth in Article 7, without implying any representation
or warranty not set forth in such Article 7.

 

(d)
Other Program Inventions.

 

(i)
Adimab Program Inventions. As between the Parties, Adimab shall have the sole right, at its sole expense and in its sole discretion,
to prepare, file, prosecute, enforce and maintain (including conducting or participating in interferences and oppositions) all
Program Patents claiming Adimab Program Inventions but not falling within the Program Antibody Patents, the Adimab Platform/Core
Technology Improvements, or the Broad Target/Non-CDR Antibody Inventions (which, to avoid doubt, are all addressed above).

 

(ii)
Kairos Program Inventions. As between the Parties, Kairos shall have the sole right, at its sole expense and in its sole discretion,
to prepare, file, prosecute, enforce and maintain (including conducting or participating in interferences and oppositions) all
Program Patents claiming Kairos Program Inventions but not falling within the Program Antibody Patents, the Adimab Platform/Core
Technology Improvements, the Broad Target/Non- CDR Antibody Inventions, or Broad Target/Non-CDR Antibody Patents (which, to avoid
doubt, are all addressed above).

 

(iii)
Joint Serendipitous Inventions. The Parties shall mutually agree which of them shall be responsible for either using its in-house
patent attorneys or through mutually agreed upon outside counsel to prepare, file, prosecute, enforce and maintain Program Patents
on Joint Serendipitous Inventions, and how the costs of such activities will be shared.

 

5.5
Patent Term Restoration. The Parties shall cooperate with each other, including by providing necessary information and assistance
as the other Party may reasonably request, to obtain patent term restoration or supplemental protection certificates or their
equivalents in any country where applicable to Licensed Program Antibody Patents. After Option exercise, if elections with respect
to obtaining such patent term restoration are to be made with respect to Licensed Program Antibody Patents and the Parties do
not agree, Kairos shall have the right to make the election and Adimab agrees to abide by such election.

 

5.6
Cooperation of the Parties. At the reasonable request of the responsible (as provided for in this Article 5) Party, the other
Party agrees to cooperate fully in the preparation, filing, prosecution, enforcement and maintenance of any Program Patents under
this Agreement. Such cooperation includes executing all papers and instruments (or causing its personnel to do so) reasonably
useful to enable the other Party to apply for and to prosecute patent applications in any country; and promptly informing the
other Party of any matters coming to such Party’s attention that may affect the preparation, filing, prosecution, enforcement
or maintenance of any such Patents.

 

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5.7
Infringement of Patents by Third Parties.

 

(a)
License-Competitive Infringement of Licensed Program Antibody Patents.

 

(i)
First Right. Kairos shall have the first right, but not the obligation, to enforce the Licensed Program Antibody Patents against
infringement through activities or conduct of a Third Party in the Field (“License-Competitive Infringement”).
Kairos shall reasonably consider Adimab’s comments on any such enforcement activities. Except as provided in subsection
(c) or in Section 5.8, Kairos shall bear all costs and expenses for enforcement under this Section 5.7(a)(i) (including the reasonable
costs of Adimab’s cooperation as required under subsection (c)).

 

(ii) Back-up
Right for License-Competitive Infringement of Licensed Program Antibody Patents. If Kairos does not bring action to prevent
or abate License-Competitive Infringement within [***] days (or [***] days in the case of an action brought under the Hatch-Waxman
Act, similar U.S. act, or any ex-U.S. equivalent of the Hatch-Waxman Act) after notification thereof to or by Kairos, then Adimab
shall have the right, but not the obligation, to bring, at its own expense, an appropriate action against any person or entity
engaged in such License-Competitive Infringement directly or contributorily; provided, however, that Adimab shall not initiate
legal action without first conferring with Kairos and considering in good faith Kairos’s reasons for not bringing any such
action.

 

(iii)
Proceeds. Recoveries on suits under this Section 5.7(a) will be handled as provided in Section 5.8.

 

(b)
Participation of the other Party with Respect to Infringement Suits. If a Party brings an action against Infringement under
this Section 5.7, the other Party shall be entitled to separate representation in such matter by counsel of its own choice and
at its own expense, and such Party shall cooperate fully with the Party bringing such action including by being joined as a party
plaintiff if necessary to obtain standing for such action (all at the expense on a pass-through basis of the prosecuting Party).

 

(c)
Settlement. Adimab shall not settle a claim brought under this Section

 

5.8
involving Licensed Program Antibody Patents in a manner that would limit or restrict the ability of Kairos to develop, make
or sell Products for use in the Field, or impair the exclusivity of Kairos’s license rights under this Agreement, in each
case without the prior written consent of Kairos (which consent shall not be unreasonably withheld, conditioned or delayed). Kairos
shall not settle a claim brought under this Section 5.7 involving Licensed Program Antibody Patents in a manner that would limit
or restrict the ability of Adimab to sell, practice, license and fully enjoy the benefits of Adimab’s rights in and to the
Licensed Program Antibody Patents as provided in this Agreement or that shortens the life of the Licensed Program Antibody Patents
or that would narrow their scope, in each case without the prior written consent of Adimab (which consent shall not be unreasonably
withheld, conditioned or delayed).

 

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5.9
Allocation of Proceeds. If monetary damages are recovered from any Third Party in an action brought by a Party under Section
5.7(a), such recovery shall be allocated first to the reimbursement of any costs and expenses incurred by the Party controlling
such litigation (including, for this purpose, a reasonable allocation of expenses of internal counsel or other personnel acting
in such capacity (i.e., coordination of litigation matters and the like)), to the extent not previously reimbursed, and then the
same costs and expenses of the non-controlling Party, and any remaining amounts shall be split as follows:

 

(i) if
Kairos exercised its first right to bring the suit, then the rest of the remaining recovery shall be allocated [***] to Adimab
and [***] to Kairos; and

 

(ii) if
instead Adimab exercised its back-up right to enforce, then the rest of the remaining recovery shall be allocated [***] to Adimab
and [***] to Kairos.

 

Article 6

CONFIDENTIALITY; PUBLICITY.

 

6.1
General. Any and all information disclosed or submitted in writing or in other tangible form -- or if disclosed orally,
that is indicated to be confidential at the time of disclosure and confirmed in writing as such within [***] days after
initial disclosure -- to one Party by the other Party under this Agreement or that certain Mutual Confidential Disclosure
Agreement between them dated 4 March 2013, or disclosed between the Parties in the course of negotiating this Agreement or
the term sheet for this Agreement whether or not reduced to writing if disclosed orally, is the “Confidential
Information” of the disclosing Party. In addition, notwithstanding the foregoing, (A) the (i) information embodied
in Adimab Materials is Adimab’s Confidential Information, and information embodied in the Kairos Materials is
Kairos’s Confidential Information, and (ii) any Program Know-How or Program Invention will be treated as Confidential
Information of the Party that owns such Program Know-How or Program Invention, subject to the next clause (B), and (B)
sequence data (whether as to amino acid sequence or nucleic acid sequence) as to Program Antibodies shall be deemed the
Confidential Information of Adimab, except that (a) sequence data and data generated in the Collaboration by Adimab relating
to Program Antibodies shall also be the Confidential Information of Kairos prior to the expiration of the Option Term for the
Target to which such Program Antibodies are directed and (b) sequence data and data generated in the Collaboration by Adimab
relating to Licensed Antibodies shall be the Confidential Information of Kairos and not the Confidential Information of
Adimab. Each Party shall receive and maintain the other Party’s Confidential Information in strict confidence. Neither
Party shall disclose any Confidential Information of the other Party to any Third Party. Neither Party shall use the
Confidential Information of the other Party for any purpose other than as required to perform its obligations or in the
reasonable exercise of its rights hereunder. Each Party may disclose the other Party’s Confidential Information to the
receiving Party’s directors, employees, consultants and contractors requiring access thereto for the purposes of this
Agreement, provided, however, that prior to making any such disclosures, each such person shall be bound by written
agreement to maintain Confidential Information in confidence and not to use such information for any purpose other than in
accordance with the terms and conditions of this Agreement. Kairos may disclose sequence data and data generated in the
Collaboration by Adimab relating to Program Antibodies (even though it is Confidential Information of Adimab) to any bona
fide actual or prospective permitted collaborators under Section 2.8, any Program Transaction or Kairos Change of Control
counterparties, acquirers, underwriters, investors, lenders or other financing sources who are obligated to keep such
information confidential and not to use it other than for the Purpose (defined later in this sentence), to the extent
reasonably necessary to enable such actual or prospective collaborators, licensees, sublicensees, acquirers, underwriters,
investors, lenders or other financing sources to determine their interest in collaborating with, acquiring or acquiring
rights from, underwriting or making an investment in, or otherwise providing financing to, Kairos (the
“Purpose”). Each Party agrees to take all steps necessary to ensure that the other Party’s
Confidential Information shall be maintained in confidence including such steps as it takes to prevent the disclosure of its
own proprietary and confidential information of like character. Each Party agrees that this Agreement shall be binding upon
its Affiliates, and upon the employees and contractors involved in the Research Program of such Party and its Affiliates.
Each Party shall take all steps necessary to ensure that its Affiliates and employees and contractors shall comply with the
terms and conditions of this Agreement. The foregoing obligations of confidentiality and non-use shall survive, and remain in
effect for a period of [***] years from, the termination or expiration of this Agreement in accordance with Article
9.

 

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6.2
Exclusions from Nondisclosure Obligation. The nondisclosure and nonuse obligations in Section 6.1 shall not apply to any Confidential
Information to the extent that the receiving Party can establish by competent written proof that it:

 

(a)
at the time of disclosure is publicly known;

 

(b)
after disclosure, becomes publicly known by publication or otherwise, except by breach of this Agreement by such Party;

 

(c)
was in such Party’s possession in documentary form at the time of disclosure hereunder;

 

(d)
is received by such Party from a Third Party who has the lawful right to disclose the Confidential Information and who shall
not have obtained the Confidential Information either directly or indirectly from the disclosing Party; or

 

(e)
is independently developed by such Party (i.e., without reference to Confidential Information of the disclosing Party).

 

Notwithstanding
the foregoing: (i) the fact that certain technology becomes publicly known shall not release a Party from the obligation to keep
confidential (and not use) the information that such technology is practiced (or not practiced) by the other Party; and (ii) the
fact that individual features or combinations of features of a technology are or may become publicly known shall not be deemed
to indicate that the overall combination is publicly known or disclosed and shall not allow the Party to whom individual features
or combinations of features of a technology was disclosed under this Agreement to disclose (or practice) such individual features
or combinations of features of a technology outside the scope of a license granted to such Party under this Agreement.

 

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6.3
Required Disclosures. If either Party is required to disclose any Confidential Information of the other Party, pursuant to
a governmental law, regulation or order, an order of a court of competent jurisdiction; if strictly necessary to defend litigation
(meaning that the defense would not be possible if the information were not disclosed); if necessary to prosecute a litigation
under Section 5.7 or between the Parties to establish their rights under this Agreement; or to comply with the rules of the U.S.
Securities and Exchange Commission or any stock exchange or listing entity, then the receiving Party may do so; provided, however,
that the receiving Party shall (i) give advance written notice to the disclosing Party, (ii) make a reasonable effort to assist
the disclosing Party to obtain a protective order requiring that the Confidential Information so disclosed be used only for the
purposes for which the law or regulation required, and (iii) use and disclose the Confidential Information solely to the extent
required by the law, regulation, order, or rule.

 

6.4
Terms of Agreement. The terms of this Agreement are the Confidential Information of both Parties; provided, however,
that (a) each Party shall be entitled to disclose the terms of this Agreement to bona fide actual or prospective acquirers, underwriters,
investors, lenders or other financing sources (and counsel for the foregoing), (b) Kairos shall be entitled to disclose the terms
of this Agreement to bona fide actual or prospective Kairos Change of Control or Program Transaction counterparties (and counsel
for the foregoing), and (c) Adimab shall be entitled to disclose the terms of this Agreement, but excluding financial terms, the
Exhibit to this Agreement, any Research Plan, and any Target identity, to actual and prospective Adimab Platform/Core Technology
licensees and/or acquirors (and counsel for the foregoing) who, in the case of each of clauses (a) - (c), are obligated to keep
such information confidential and not to use it other than for the Purpose (with “Purpose” being as defined in Section
6.1, both as written there and as applied mutatis mutandis to Adimab as applicable). Moreover, each Party shall be entitled
to disclose the terms of this Agreement to legal, financial, business and investment banking advisors to the Party, under legally
binding obligations of confidentiality and non-use outside of their representation and/or advice to the Party. In addition, if
legally required, a copy of this Agreement may be filed by either Party with the SEC (or relevant ex-U.S. counterpart). In that
case, the filing Party will if requested by the other Party diligently seek confidential treatment for terms of this Agreement
for which confidential treatment is reasonably available, and shall provide the non-filing Party reasonable advance notice of
the terms proposed for redactions and a reasonable opportunity to request that the filing Party make additional redactions to
the extent confidential treatment is reasonably available under the law.

 

6.5
Return of Confidential Information. Promptly after the termination or expiration of this Agreement for any reason, each Party
shall return to the other Party all tangible manifestations of such other Party’s Confidential Information at that time
in the possession of the receiving Party.

 

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6.6
Publicity. The Parties have agreed that Adimab may issue the press release regarding this Agreement. The Parties shall
mutually agree on language for inclusion in such release and on the timing for issuance of such release. Each Party
understands that this Agreement is likely to be of significant interest to investors, analysts and others and, therefore,
that either Party has the right to make announcements of events or developments with respect to this Agreement that are
material to such Party. The Parties agree that any such announcement will not contain Confidential Information or, if
disclosure of Confidential Information is required by law or regulation or the rules of the U.S. Securities and Exchange
Commission, any stock exchange or listing entity, will make reasonable efforts to minimize such disclosure and obtain
confidential treatment for any such information that is disclosed to a government agency. Each Party agrees to provide the
other Party with a copy of any public announcement as soon as reasonably practicable prior to its scheduled release. Except
in the case of extraordinary circumstances, each Party will provide the other with an advance copy of any announcement at
least [***] days prior to its scheduled release. Each Party has the right to expeditiously review and recommend changes to
any announcement regarding this Agreement, provided that such right of review and recommendation will only apply for the
first time that specific information is disclosed and will not apply to the subsequent disclosure of substantially similar
information that has been previously disclosed. The Parties recognize the importance of announcing when antibodies discovered
using the Adimab platform enter the clinic, and that Adimab shall entitled to disclose when Licensed Antibodies under this
Agreement enter the clinic, in press releases mutually agreed by the Parties. Kairos shall not unreasonably withhold its
consent to the manner in which Adimab proposes to make disclosures that Licensed Antibodies have entered the clinic; provided,
however, that the Target identity and applicable indications may not disclosed without Kairos’s prior written
consent in its sole discretion. Kairos recognizes that Adimab at times has a practice of grouping announcements as to
accomplishments in relation to multiple of its collaborations together into a single press release, and, if Kairos-related
accomplishments are being included in such a broader press release, Kairos shall only have the right to approve the wording
of those portions of the release that relate to Kairos.

 

6.7
Certain Data. Notwithstanding this Article 6, without disclosing Kairos’s identity, the identity, nature or class of
any Target, or the potential indications or class of indications, Adimab shall be entitled to disclose the following Program Antibody
attributes: (a) Program Antibody binding affinities (kD), (b) expression range regarding Program Antibodies, (c) germ line distribution
of Program Antibodies, and (d) with Kairos’s prior written approval, preclinical data in mammalian-cell based in vitro
assays, and in no event shall Kairos be required to correlate or provide information that correlates such data to any antibody
sequences.

 

6.8
Publication. Kairos may publish or present the results of the Collaboration and/or the results of evaluation of Licensed
Antibodies (including during the applicable Option Terms), in each case solely with respect to Licensed Antibodies and/or
their Target(s), subject to the prior review by Adimab for patentability and protection of Adimab’s Confidential
Information as provided in this Section 6.8 and without disclosing Adimab Confidential Information (including sequence
information that is Adimab’s Confidential Information) (and subject to Section 6.2) unless approved of in advance in
writing by Adimab in its sole discretion. During the applicable Option Terms, Kairos will provide to Adimab the opportunity
to review any proposed abstracts, manuscripts or summaries of presentations that cover such results. Adimab will designate a
person or persons who will be responsible for reviewing such publications. Such designated person will respond in writing
promptly and in no event later than [***] days after receipt of the proposed material with either approval of the proposed
material or a specific statement of concern, based upon either the need to seek (i) patent protection or (ii) delete Adimab
Confidential Information or (iii) concern regarding competitive disadvantage arising from the proposal. In the event of
concern, during the applicable Option Terms, Kairos agrees not to submit such publication or to make such presentation that
contains such information until Adimab is given a reasonable period of time (not to exceed [***] days) to seek patent
protection for any material in such publication or presentation that it believes is patentable and that it has the right to
patent, or to resolve any other issues, and, in any case, Kairos will remove from such proposed publication any Confidential
Information of Adimab as requested by Adimab.

 

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Article 7

REPRESENTATIONS AND WARRANTIES.

 

7.1
Mutual. Each of Adimab and Kairos hereby represents and warrants to the other of them that the representing and warranting
Party is duly organized in its jurisdiction of incorporation; that the representing and warranting Party has the full power and
authority to enter into this Agreement; that this Agreement is binding upon the representing and warranting Party; that this Agreement
has been duly authorized by all requisite corporate action within the representing and warranting Party; and that the execution,
delivery and performance by the representing and warranting Party of this Agreement and its compliance with the terms and conditions
hereof does not and shall not conflict with or result in a breach of any of the terms and conditions of or constitute a default
under (a) any agreement or other instrument binding or affecting it or its Affiliate or the property of either of them, (b) the
provisions of its bylaws or other governing documents or (c) any order, writ, injunction or decree of any governmental authority
entered against it or by which any of its property is bound.

 

7.2
Adimab. Adimab hereby represents, warrants and covenants to Kairos that:

 

(a)
As of the Effective Date Adimab has not granted or transferred, and during the term of the Agreement will not grant or transfer,
any right or license to any Third Party relating to any of the Adimab Platform/Core Technology or Adimab Platform/Background Patents
or Program Know-How, Program Inventions or Program Patents in a manner that would conflict with or narrow the scope of any of
the rights or licenses granted to Kairos hereunder (but this shall not be read to imply any obligation for Adimab to refrain from
working on any particular target that Kairos may propose to become a Target nor shall it imply any obligation for Adimab to obtain
Control of any intellectual property not Controlled by Adimab as of the Effective Date or generated under the Collaboration).

 

(b)
As of the Effective Date Adimab has not received written notice that it is in breach of any agreement to which it is a party
that is necessary for the activities contemplated for Adimab to perform under this Agreement (to avoid doubt, including intellectual
property in-licenses), to the extent rights or obligations under such agreement are pertinent to Kairos’s rights and obligations
hereunder.

 

(c)
As of the Effective Date there are no claims, judgments or settlements against or amounts with respect thereto owed by Adimab
or any of its Affiliates relating to the Adimab Platform/Core Technology or Adimab Platform/Background Patents, except for any
minor liens and encumbrances, amounts due under in-licenses, or issue or other prosecution- related fees due patent offices, in
each case that arise in the ordinary course of business and that do not materially detract from Adimab’s ability to grant
licenses or rights to Kairos as provided in this Agreement or to perform Adimab’s obligations under this Agreement (including,
in the case of in-licenses, that any amounts due are not the subject of any breach notice received by Adimab).

 

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(d)
Prior to the Effective Date, Adimab has through outside counsel conducted one (1) or more freedom to operate analyses with
respect to Adimab Platform/Core Technology as then practiced by Adimab, and to Adimab’s knowledge and belief as of the Effective
Date, the practice of the Adimab Platform/Background Patents or Adimab Platform/Core Technology as practiced by Adimab as of the
Effective Date does not infringe a valid, issued Patent owned by a Third Party; provided, however, that the following types
of Patents are specifically excluded from such representation:

 

(i)
Patents on the use or specific composition of the applicable antibody or Product;

 

(ii)
Patents on the Product formulation;

 

(iii)
Patents relating to any modification to an antibody made by or for (but other than for Kairos by Adimab, excluding work by
Adimab pursuant to any of the “optional” work that Kairos may direct Adimab to perform in accordance with this Agreement,
and without expressing any opinion as to the freedom-to-operate of any such “optional” work that may be agreed between
the Parties in the Research Plans, but including any affinity maturation work by Adimab substantially in accordance with Adimab’s
standard SOPs and including evolution of cross-reactivity work by Adimab substantially in accordance with Adimab’s standard
SOPs) Kairos or its Affiliate (including Patents relating to pegylation or other chemical modification);

 

(iv)
Patents relating to activities performed by Kairos or its Affiliate but not activities performed by Adimab;

 

(v)
any antibody manufacturing- or production- (including expression-) related Patents;

 

(vi)
Patents relating to the Target (including that so relate via any mechanism of action via interaction with the Target or claiming
antibodies based on their interaction with the Target or their having been tested for their activity against the Target in a biological
assay performed by Kairos or its Affiliate); and

 

(vii)
all other Patents that would allegedly apply (x) for any reason other than Covering the manner in which Adimab discovered
the antibody based on Coverage of the Adimab Platform/Core Technology itself or its operation generally and (y) in a target-independent
manner (i.e., that would apply regardless of target) and (z) independent of the identity, sequence or binding characteristics
of any specific antibody.

 

(e) [***].

 

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(f)
To Adimab’s knowledge, Adimab’s conduct of the activities contemplated in the Research Program using the Adimab
Platform/Core Technology will not misappropriate any trade secret of any Third Party (excluding, to be clear, any misappropriation
associated with Kairos’s provision of the Kairos Materials or any Know-How provided by Kairos or used by Kairos under the
Collaboration).

 

(g)
Adimab’s obligations under the Collaboration will be performed with requisite care, skill and diligence, in accordance
with applicable laws and industry standards, and by individuals who are appropriately trained and qualified.

 

7.3
Kairos Covenant. Kairos hereby represents, warrants and covenants to Adimab that there are and shall be no contractual or
other restrictions on the use of Kairos Materials (including any control antibodies that Kairos will be providing to Adimab) as
contemplated under this Agreement or any Research Plan that may be put in place under this Agreement, and the use of them under
the Research Programs as contemplated in the applicable Research Plans will not breach any contract between Kairos or its Affiliate
and any Third Party, and as between the Parties Kairos shall be solely responsible for any and all liabilities to Third Party(ies)
for the use of the Kairos Materials (including such antibodies) as contemplated in the Research Plans including any and all liability
for or in connection with breach of contract (including interference with contractual relations), infringement, and the like.

 

7.4
DISCLAIMER OF WARRANTIES. OTHER THAN THE EXPRESS WARRANTIES OF SECTIONS 7.1, 7.2 AND 7.3, EACH PARTY DISCLAIMS ALL WARRANTIES
OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR THAT ANY PRODUCTS
DEVELOPED UNDER THIS AGREEMENT ARE FREE FROM THE RIGHTFUL CLAIM OF ANY THIRD PARTY, BY WAY OF INFRINGEMENT OR THE LIKE, OR THAT
ANY PROGRAM PATENTS WILL ISSUE OR BE VALID OR ENFORCEABLE, OR THAT THE DEVELOPMENT, MANUFACTURE OR COMMERCIALIZATION OF ANY PRODUCT
PURSUANT TO THIS AGREEMENT WILL BE SUCCESSFUL.

 

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Article 8

INDEMNIFICATION

 

8.1
By Adimab. Adimab hereby agrees to indemnify, defend and hold harmless (collectively, “Indemnify”) Kairos,
its Affiliates and its and their directors, officers, agents and employees (collectively, “Kairos Indemnitees”)
from and against any and all liability, loss, damage or expense (including without limitation reasonable attorneys’ fees)
(collectively, “Losses”) they may suffer as the result of Third Party claims, demands and actions (collectively,
“Third-Party Claims “) to the extent arising out of or relating to both (x) activities under this Agreement
or a grant or exercise of rights granted under this Agreement and (y) any of (a) any material breach of any of Adimab’s
obligations under this Agreement or any breach (whether or not material) of a representation, warranty or covenant made by Adimab
under Article 7; or (b) the negligence or intentional misconduct of Adimab Indemnitees; except in each case to the extent of any
Losses (i) attributable to the negligence or intentional misconduct of any Kairos Indemnitee, (ii) arising out of or relating
to any material breach of any of Kairos’s obligations under this Agreement, including any representation or warranty or
covenant made by Kairos under Article 7, or (iii) for which Kairos is required to Indemnify Adimab pursuant to Section 8.2.

 

8.2
By Kairos. Kairos hereby agrees that it, its Affiliates and all Program Transaction counterparties shall Indemnify Adimab,
its Affiliates and its and their directors, officers, agents and employees (collectively, “Adimab Indemnitees”)
from and against any and all Losses they may suffer as the result of Third-Party Claims to the extent arising out of or relating
to both (x) activities under this Agreement or a grant or exercise of rights granted under this Agreement and (y) any of (a) any
material breach of any of Kairos’s obligations under this Agreement or any breach (whether or not material) of a representation,
warranty or covenant made by Kairos under Article 7; (b) the negligence or intentional misconduct of Kairos Indemnitees; (c) research,
testing, development, manufacture, use, sale, distribution, licensing and/or commercialization of Licensed Antibodies and/or Products
(or Program-Benefited Antibodies or products incorporating them) by or for Kairos, its Affiliate or any entity deriving rights
from any of them; (d) Target-related intellectual property (including Patents directed to antibodies based on their interaction
with any Target); (e) Target-related or Kairos Materials- related contractual obligations of Kairos and its Affiliates; (f) intellectual
property applying to any Program Antibody or Program-Benefited Antibody, or antigen or other campaign-specific reagent (such as
a comparator antibody used in selections), in each case, based on its sequence or other characteristics (it being understood and
agreed in accordance with 7.2(d) that Adimab does not perform intellectual property searches on Program Antibodies (including
sequence-based searches) and this is the responsibility of Kairos); or (g) intellectual property relevant to any “optional”
(as described in the last paragraph of Section 2.2(d)) activities identified in the Research Plan(s) (including any and all antibody
humanization-related Patents but excluding Adimab’s activities relating to affinity maturation or evolution of cross-reactivity);
except in each case to the extent of any Losses (i) attributable to the negligence or intentional misconduct of any Adimab Indemnitee
(provided, however, that this shall not be read or alleged by Kairos to undermine the requirement to indemnify for Third-Party
intellectual property as provided for in this Section 8.2), or (ii) arising out of or relating to any material breach of any of
Adimab’s obligations under this Agreement, including any representation, warranty or covenant made by Adimab under Article
7.

 

As
regards Third Parties deriving rights from Kairos or its Affiliate under this Agreement, it shall be sufficient that each such
Third Party provide the foregoing indemnification solely with respect to the activities and scope of rights that are within the
particular Third Party’s scope of rights received from Kairos or its Affiliate, not the activities of others independently
deriving rights from Kairos or its Affiliate.

 

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8.3
Procedures. Each of the foregoing agreements to Indemnify is conditioned on the relevant Adimab Indemnitees or Kairos Indemnitees
(a) providing prompt written notice of any Third-Party Claim giving rise to an indemnification obligation hereunder, (b) permitting
the indemnifying Party to assume full responsibility to investigate, prepare for and defend against any such Third-Party Claim,
(c) providing reasonable assistance in the defense of such claim at the indemnifying Party’s reasonable expense, and (d)
not compromising or settling such Third- Party Claim without the indemnifying Party’s advance written consent. If the Parties
cannot agree as to the application of the foregoing Sections 8.1 and 8.2, each may conduct separate defenses of the Third-Party
Claim, and each Party reserves the right to claim indemnity from the other in accordance with this Article 8 upon the resolution
of the underlying Third-Party Claim.

 

8.4
Limitation of Liability. EXCEPT TO THE EXTENT SUCH PARTY MAY BE REQUIRED TO INDEMNIFY THE OTHER PARTY UNDER THIS ARTICLE 8
(INDEMNIFICATION) OR AS REGARDS A BREACH OF A PARTY’S RESPONSIBILITIES PURSUANT TO ARTICLE 6 (CONFIDENTIALITY; PUBLICITY),
NEITHER PARTY NOR ITS RESPECTIVE AFFILIATES SHALL BE LIABLE FOR ANY SPECIAL, INDIRECT, EXEMPLARY, CONSEQUENTIAL OR PUNITIVE DAMAGES
ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE EXERCISE OF ITS RIGHTS HEREUNDER, WHETHER IN CONTRACT, WARRANTY, TORT, STRICT
LIABILITY OR OTHERWISE.

 

Article 9

TERM.

 

9.1
Term. The term of this Agreement shall commence on the Effective Date and shall expire upon (a) the expiration of the last
Option (if it expires unexercised), or (b) if later, on a country-by-country basis on the expiration of the last Royalty Term
for a Product in the particular country, in each case, unless earlier terminated by a Party as set forth below in this Article
9. On expiration under (b) in the particular country, the license of Section 3.3 for the corresponding Product and its Licensed
Antibody shall automatically convert to be perpetual, irrevocable, non-exclusive and fully-paid in such country.

 

9.2
Material Breach.

 

(a) Either
Party may terminate this Agreement for the material breach of this Agreement by the other Party, if such breach remains uncured
[***] days following notice from the non-breaching Party to the breaching Party specifying such breach; provided, however, that
if cure of such breach cannot reasonably be effected within such [***] day period, the breaching party may deliver to the non-breaching
Party a plan reasonably calculated to cure such breach within a timeframe that is reasonably prompt in light of the circumstances
then prevailing but in no event longer than an additional [***] days. Following delivery of such a plan, the breaching Party will
carry out the plan and cure the breach. If there is a good faith dispute as to the existence or cure of a breach or default pursuant
to this Section 9.2, all applicable cure periods will be tolled during the existence of such good faith dispute and no termination
for a breach which is disputed in good faith will become effective until such dispute is resolved pursuant to the process set forth
in Section 10.2.

 

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(b)
For Targets for which the Option has been exercised, the foregoing Section 9.2(a) applies on a Target basis if there is a
material adverse effect of the breach on the rights and obligations under this Agreement with respect to such Target (and its
associated Patents, Licensed Antibodies, and Products). Furthermore, if Kairos is the breaching Party and the material adverse
effect of the breach is limited to a given Target for which the corresponding Option has been exercised, then the termination
shall be effective only as to the Target to which the uncured material breach relates (and its related Patents, Licensed Antibodies
and Products). If the material breach has, or is reasonably likely to have, a material adverse effect only on the development,
manufacture or commercialization of a Product in a particular jurisdiction or jurisdictions, then this Agreement shall not terminate
with respect to such Product and associated Target in the Territory outside of such jurisdiction or jurisdictions, and the foregoing
obligations shall only apply to the terminated jurisdiction or jurisdictions.

 

9.3
Elective Termination. Effective no sooner than the end of the Tail Period, Kairos may terminate this Agreement in its entirety
on three (3) months prior written notice to Adimab. Kairos may also terminate this Agreement as to all Licensed Antibodies to
a particular Target and all Products based on the terminated Licensed Antibodies by three (3) months prior written notice to Adimab.
Such right to terminate on a Target basis shall be exercisable one (1) or more times (at different times for different Targets).

 

9.4
Survival in All Cases. Termination of this Agreement shall be without prejudice to or limitation on any other remedies available
to nor any accrued obligations of either Party. In addition, Sections 2.4(c) (except that Section 2.4(c) shall not survive termination
by Adimab under Section 9.2 for Kairos’s uncured material breach), 2.5(a), 2.5(c) (to the extent that Kairos retains rights
to any Program-Benefited Antibodies pursuant to Section 9.5), 2.6, 2.7, 2.9 (except that Section 2.9 shall not survive termination
by Adimab under Section 9.2 for Kairos’s uncured material breach), 3.5 (to the extent that Kairos retains rights to any
Program-Benefited Antibodies pursuant to Section 9.5), 4.3 through 4.16 (with respect to payment obligations outstanding as the
effective date of termination or expiration; with respect to any Program- Benefited Antibodies that Kairos retains rights to pursuant
to Section 9.5; and in the case of Section 4.3(g), payment obligations for Epitope Patent-Only Transactions after the date of
termination or expiration shall continue to accrue for the life of the Epitope Patents), 5.1, 5.2(a), 5.2(b)(iii), 5.4(a) and
(d), 7.3, and 7.4 and Articles 1 (to the extent the definitions in such Article are relevant to other surviving provisions of
this Agreement or a covenant is contained in such Article), 6, 8, 9 and 10 shall survive any expiration or termination of this
Agreement. Further, upon termination of this Agreement by either Party under Section 9.2 or 9.3, then Kairos and its Affiliates
will no longer develop or commercialize any Licensed Antibody or Product (subject to Section 9.2(b) for partial terminations).

 

9.5
Certain Consequences of Termination. If this Agreement expires or terminates in its entirety (other than an expiration under
Section 9.1 following an Option exercise after all Royalty Terms have expired (“Full Payment Term Expiration”)),
or in part (e.g., only in certain jurisdictions or only in connection with certain Targets), Kairos hereby covenants that unless
Kairos agrees in writing to pay Adimab payments as set forth in Article 4 with respect to products containing a Program-Benefited
Antibody as if such products were Products (and as to related transactions as if they were Program Transactions), Kairos and its
Affiliates shall not (a) develop or commercialize such Program-Benefited Antibody or product containing such Program-Benefited
Antibody, (b) license or otherwise grant rights to any entity to do the foregoing, or (c) practice, license or assign to a Third
Party, option to a Third Party or covenant not to sue a Third Party with respect to such Program-Benefited Antibody. In the event
that Kairos agrees to pay Adimab payments as set forth in Article 4 with respect to products containing a Program-Benefited Antibody
as if such products were Products (and as to related transactions as if they were Program Transactions), then Adimab shall agree
to a covenant not to sue Kairos with respect to such products and transactions as set forth in Section 3.5(b). Other than after
a Full Payment Term Expiration, if Kairos has elected under Section 5.1 to include dependent program antibody CDR-specific claims
(i.e., a patent claim that would be a Program Antibody CDR-Specific Claim but for being a dependent claim) in any Broad Target/Non-CDR
Antibody Patent, then Kairos shall not include such dependent claim(s) in any license granted under such Broad Target/Non-CDR
Antibody Patent.

 

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9.6 Survival
of Sublicenses. In the event that the licenses granted to Kairos under this Agreement are terminated, any granted sublicenses
to Program Transaction counterparties (to avoid doubt, granted to Third Parties, not Kairos Affiliates) will remain in full force
and effect; provided, that the sublicensee is not then in breach of its Program Transaction agreement and the Program Transaction
counterparty agrees to be bound to Adimab as a licensor under the terms and conditions of the Program Transaction agreement (including
payment obligations), without imposing any greater obligation on Adimab than imposed on Adimab under this Agreement. Adimab will
enter into appropriate agreements or amendments to the Program Transaction agreement to substitute itself for Kairos as the licensor
thereunder. Regardless of any prior Royalty Election or Revenue Election made by Kairos, upon the effective date of such termination
the Revenue Election shall apply to any Program Transaction to which Adimab becomes a party under this Section, and the provisions
of Sections 4.3(c), (d), (e), (f) and (g) and Section 4.4 shall apply mutatis mutandis to require Adimab to make payments
to Kairos with respect to such Program Transaction in the same amounts and in relation to the same revenues and sales as such Sections
of the Agreement provide for Kairos to pay Adimab with respect to Program Transactions subject to the Revenue Election; provided,
however, that Adimab may apply, as a credit against any future payments Adimab is required to make to Kairos under this Agreement,
up to [***] percent ([***]) of the amount (“Adimab True-up Amount”) equal to (i) [***] percent ([***]) of the
total amount of any Program Transaction Revenue or Multi-Product Deal Program Transaction Revenue, as the case may be, received
by Kairos in respect of such Program Transaction under this Agreement prior to the effective date of termination, less (ii) the
[***] amount of any payments received by Adimab in respect of such Program Transaction under this Agreement prior to the effective
date of termination, until such Adimab True-up Amount has been applied in full. To avoid doubt, Adimab is not required to assume
any greater obligations to the Program Transaction counterparty than Adimab’s obligations to Kairos under this Agreement,
other than the obligation to provide a sublicense under the license to Adimab of Section 9.5 under any Broad Target/Non-CDR Antibody
Patents.

 

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9.7
Bankruptcy. All licenses and rights to licenses granted under or pursuant to this Agreement by Adimab to Kairos are, and will
otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code (the “Bankruptcy Code”),
licenses of rights to “intellectual property” as defined under Section 101(35A) of the Bankruptcy Code. The Parties
agree that Kairos, as a licensee of such rights under this Agreement, will retain and may fully exercise all of its rights and
elections under the Bankruptcy Code. The parties further agree that that upon commencement of a bankruptcy proceeding by or against
Adimab under the Bankruptcy Code, Kairos will be entitled to a complete duplicate of, or complete access to (as Kairos deems appropriate),
all such intellectual property and all embodiments of such intellectual property. Such intellectual property and all embodiments
of such intellectual property will be promptly delivered to Kairos (a) upon any such commencement of a bankruptcy proceeding and
upon written request by Kairos, unless Adimab elects to continue to perform all of its obligations under this Agreement, or (b)
if not delivered under (a) above, upon the rejection of this Agreement by or on behalf of Adimab and upon written request by the
Kairos. Adimab (in any capacity, including debtor-in-possession) and its successors and assigns (including any trustee) agrees
not to interfere with the exercise by Kairos or its Affiliates of its rights and licenses to such intellectual property and such
embodiments of intellectual property in accordance with this Agreement, and agrees to assist Kairos and its Affiliates in obtaining
such intellectual property and such embodiments of intellectual property in the possession or control of Third Parties as reasonably
necessary or desirable for Kairos to exercise such rights and licenses in accordance with this Agreement. The foregoing provisions
are without prejudice to any rights Kairos may have arising under the Bankruptcy Code or other applicable law. Notwithstanding
the foregoing in this Section 9.7, nothing in this Section 9.7 shall be read to entitle Kairos to obtain disclosure of or access
to Adimab Platform/Core Technology (including Adimab Platform/Core Technology Improvements), whether or not as an “embodiment,”
“update,” or otherwise, at any time, and Kairos shall not under any circumstances notwithstanding anything express
or implied in this Agreement be entitled to disclosure of Adimab Platform/Core Technology (including Adimab Platform/Core Technology
Improvements).

 

Article 10

MISCELLANEOUS.

 

10.1
Independent Contractors. The Parties shall perform their obligations under this Agreement as independent contractors. Nothing
contained in this Agreement shall be construed to be inconsistent with such relationship or status. This Agreement and the Parties’
relationship in connection with it shall not constitute, create or in any way be interpreted as a joint venture, fiduciary relationship,
partnership or agency of any kind.

 

10.2
Dispute Resolution.

 

(a)
Escalation. Either Party may refer any dispute in connection with this Agreement to senior executives of the Parties (for
Adimab, an Officer or Board member who is not an Officer, Board member or stockholder in Kairos or representing a fund that
is a stockholder in Kairos and for Kairos, an Officer or Board member who is not an Officer, Board member or stockholder in
Adimab or representing a fund that is a stockholder in Adimab) for good-faith discussions over a period of not less than
[***] days (the “Senior Executives Discussions”). Each Party will make its executives reasonably available
for such discussions. If the Parties are unable to resolve the dispute through the Senior Executives Discussions within such
[***] days, then either Party may proceed to seek arbitration of the matter.

 

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(b)
Arbitration.

 

(i)
Any Dispute referred for arbitration shall be finally resolved by binding arbitration in accordance with the most applicable
rules of the American Arbitration Association (“AAA”) and judgment on the arbitration award may be entered
in any court having jurisdiction.

 

(ii) The
arbitration shall be conducted by a panel of three (3) arbitrators with at least five (5) years’ experience in the business
of biopharmaceuticals. If the issues in dispute involve scientific, technical or commercial matters, then any arbitrator chosen
under this Agreement shall have educational training and industry experience sufficient to demonstrate a reasonable level of relevant
scientific, technical and commercial knowledge as applied to the pharmaceutical industry. If the issues in dispute involve patent
matters, then at least two (2) of the arbitrators shall be a licensed patent attorney. Within [***] days after a Party demands
arbitration, each Party shall select one person to act as arbitrator, and the two Party-selected arbitrators shall select a third
arbitrator within [***] days after their own appointment. If the arbitrators selected by the Parties are unable or fail to agree
upon the third arbitrator, then the third arbitrator shall be appointed by the AAA. The seat of arbitration shall be New York,
New York. All proceedings and communications as part of the arbitration shall be in English. Following selection of the third arbitrator,
the arbitrators shall use all reasonable efforts to complete the arbitration proceedings and render an award within [***] months
after the last arbitrator is appointed.

 

(iii)
Each Party shall bear its own costs and expenses and attorneys’ fees and an equal share of the arbitrators’ fees
and any administrative fees or arbitration, unless in each case the arbitrators agree otherwise, which they are hereby empowered,
authorized and instructed to do if they determine that to be fair and appropriate.

 

(iv)
Except to the extent necessary to confirm an award or as may be required by law, regulation, or the requirement of any exchange
on which a Party’s shares are traded, neither Party shall disclose the existence, content or results of an arbitration under
this Agreement without the prior written consent of the other Party.

 

10.3
Governing Law and Venue. This Agreement shall be governed by and interpreted in accordance with the laws of the State of New
York without giving effect to principles of conflicts of laws that would require the application of any other law; provided,
however, that matters of intellectual property law will be determined in accordance with the United States federal law. Any
and all judicial resolutions of disputes in connection with this Agreement shall be in federal court located within any of the
boroughs of New York City, New York, and each Party hereby consents to the jurisdiction and venue of such courts, and waives all
defenses it may have to such jurisdiction and venue, including that the court cannot assert personal jurisdiction over the defendant
and forum non conveniens.

 

10.4
Entire Agreement. This Agreement (including its Exhibit), together with Amendment Number One to the Original Agreement, dated
December 9, 2014, sets forth all the covenants, promises, agreements, warranties, representations, conditions and understandings
between the Parties with respect to the subject matter hereof and supersedes and terminates all prior agreements and understandings
between the Parties with respect to such subject matter (including that certain Mutual Confidential Disclosure Agreement between
the Parties dated 8 March 2011). No subsequent alteration, amendment, change or addition to this Agreement shall be binding upon
the Parties unless reduced to writing and signed by the respective authorized officers of the Parties.

 

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10.5
Assignment. Neither Party may assign in whole or in part this Agreement without the advance written consent of the other Party,
except as set forth in the following sentence. Either Party may assign this Agreement in its entirety to the successor to all
or substantially all of its stock or assets to which this Agreement relates in connection with its merger with, or the sale of
all or substantially all of its stock or assets to which this Agreement relates, to another entity, regardless of the form of
the transaction. In addition, Adimab may assign this Agreement, or any of its rights under this Agreement, in connection with
the sale of, monetization of, transfer of, or obtaining financing on the basis of the payments due to Adimab under this Agreement
or debt or project financing in connection with this Agreement. Also, Kairos may assign its rights and obligations under this
Agreement on a Target-by-Target basis, at any time after Option exercise for the particular Target, to any entity to which Kairos
assigns all or substantially all of its assets with respect to such Target (and its related Patents, Licensed Antibodies and Products);
provided that, to avoid any ambiguity as to what rights and obligations are being assigned, Adimab shall be entitled to
require before the closing of such transaction that a separate document be created and signed between the Parties addressing solely
the rights and obligations in relation to such Target (and its related Patents, Licensed Antibodies and Products) and it shall
be only the rights and obligations set forth in such separate document that shall be assigned in the transaction. In addition,
upon written request by Kairos at any time during the term of this Agreement, a separate document will be created and signed between
the Parties addressing solely the rights and obligations in relation to a Target (and its related Know-How, Patents, Licensed
Antibodies, Program-Benefited Antibodies and Products), and such Target shall no longer be subject to this Agreement. Subject
to the foregoing, this Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors
and permitted assigns. Any assignment of this Agreement not made in accordance with this Agreement is prohibited hereunder and
shall be null and void.

 

10.6
Severability. If one or more of the provisions in this Agreement are deemed unenforceable by law, then such provision shall
be deemed stricken from this Agreement and the remaining provisions shall continue in full force and effect.

 

10.7
Force Majeure. Both Parties shall be excused from the performance of their obligations under this Agreement to the extent
that such performance is prevented by a Force Majeure (defined below) and the nonperforming Party promptly provides notice of
the prevention to the other Party. Such excuse shall be continued so long as the condition constituting Force Majeure continues
and the nonperforming Party takes reasonable efforts to remove the condition, but no longer than six (6) months. For purposes
of this Agreement, “Force Majeure” means conditions beyond a Party’s reasonable control or ability to
plan for, including acts of God, war, terrorism, civil commotion, labor strike or lock-out; epidemic; failure or default of public
utilities or common carriers; and destruction of production facilities or materials by fire, earthquake, storm or like catastrophe;
provided, however, the payment of invoices due and owing under this Agreement shall not be excused by reason of a Force
Majeure affecting the payor.

 

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10.8
Notices. Any notice required or permitted to be given under this Agreement shall be in writing, shall specifically refer to
this Agreement and shall be deemed to have been sufficiently given for all purposes if (a) mailed by first class certified or
registered mail, postage prepaid, (b) delivered by express delivery service, (c) personally delivered, or (d) transmitted by facsimile
with proof of completed transmission and which notice by facsimile shall be followed reasonably promptly by an additional notice
pursuant to one of clause (a), (b) or (c) above. Unless otherwise specified in writing, the mailing addresses of the Parties shall
be as described below. Kairos will provide its facsimile number by written notice within 60 days after the Effective Date.

 

If
to Adimab:

 

Adimab
LLC.

7 Lucent Drive

Lebanon, NH 03766

Attention: CEO

 

with
a required copy to each of:

 

Attention:
General Counsel at the same address.

 

If
to Kairos:

 

Kairos
Biologics Foundation LLC

44 South Main Street

Hanover, NH 03755

Attention: CEO

 

10.9
Construction. This Agreement has been prepared jointly and shall not be strictly construed against either Party. Ambiguities,
if any, in this Agreement shall not be construed against any Party, irrespective of which Party may be deemed to have authored
the ambiguous provision.

 

10.10
Headings. The headings for each article and section in this Agreement have been inserted for convenience of reference only
and are not intended to limit or expand on, nor to be used to interpret, the meaning of the language contained in the particular
article or section.

 

10.11
No Waiver. Any delay in enforcing a Party’s rights under this Agreement or any waiver as to a particular default or
other matter shall not constitute a waiver of such Party’s rights to the subsequent enforcement of its rights under this
Agreement, excepting only as to an express written and signed waiver as to a particular matter for a particular period of time
executed by an authorized officer of the waiving Party.

 

10.12
Performance by Affiliates. A Party may perform some or all of its obligations under this Agreement through Affiliate(s) or
may exercise some or all of its rights under this Agreement through Affiliates. Each Party shall remain responsible and be guarantor
of the performance by its Affiliates and shall cause its Affiliates to comply with the provisions of this Agreement in connection
with such performance. In particular and without limitation, all Affiliates of a Party that receive Confidential Information of
the other Party pursuant to this Agreement shall be governed and bound by all obligations set forth in Article 6, and shall (to
avoid doubt) be subject to the intellectual property assignment and other intellectual property provisions of Article 5 as if
they were the original Party to this Agreement (and be deemed included in the actual Party to this Agreement for purposes of all
intellectual property-related definitions). A Party and its Affiliates shall be jointly and severally liable for their performance
under this Agreement.

 

10.13
Counterparts. This Agreement may be executed in one or more identical counterparts, each of which shall be deemed to be an
original, and which collectively shall be deemed to be one and the same instrument. In addition, signatures may be exchanged by
facsimile or PDF.

 

[remainder
of page intentionally blank]

 

    58

     

    

 

In
Witness Whereof, the Parties have by duly
authorized persons executed this Agreement as of the date first written above.

 

	Kairos
    Biologics Foundation LLC:	 	Adimab,
    LLC
	 	 	 	 	 	 	 
	Sign:	/s/
                                         Thomas J. Schuetz
	 	Sign:	/s/
    Tillman Gerngross
	 	 	 	 	 	 	 
	Print
    Name:	Thomas
                                         J. Schuetz
	 	Print
    Name:	Tillman
                                         Gerngross

	 	 	 	 	 	 	 
	Title:	CEO
	 	Title:	CEO
                                         and Co-Founder

	 	 	 	 	 	 	 
	Date:	February
    11, 2015	 	Date:	February
    12, 2015

 

    59

     

    

 

Exhibit
List

 

A
- Form of questionnaire

 

     

     

    

 

Exhibit
A

 

Form
of questionnaire

 

Partner
Completed Target Questionnaire

 

 

[***]

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