Document:

Exhibit 10.4

 

2010 KINEMED, INC. EQUITY INCENTIVE
PLAN

 

a Delaware corporation

 

		1.	Purposes
of the Plan. The purposes of this Plan are:

 

(a) to
attract and retain the best available personnel for positions of substantial responsibility,

 

(b)
to provide additional incentive to Employees, Directors and Consultants,
and

 

(c)
to promote the success of the Company’s business.

 

The Plan permits the grant of Incentive
Stock Options, Non-statutory Stock Options, Stock Appreciation Rights, Restricted Stock and Restricted Stock Units.

 

		2.	Definitions.
As used herein, the following definitions will apply:

 

(a) “Administrator”
means the Board or any of its Committees as will be administering the Plan, in accordance with Section 4 of the
Plan.

 

(b) “Applicable
Laws” means the requirements relating to the administration of
equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or
quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction
where Awards are, or will be, granted under the Plan.

 

(c) “Award”
means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, or
Restricted Stock Units.

 

(d) “Award
Agreement” means the written or electronic agreement setting forth the
terms and provisions applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and
conditions of the Plan.

 

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

 

(f)
“Change
in Control” means the occurrence of any of the following events:

 

(i) Change
in Ownership of the Company. A change in the ownership of the Company which
occurs on the date that any one person, or more than one person acting as a group (“Person”), acquires ownership
of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting
power of the stock of the Company, except that any change in the ownership of the stock of the Company as a result of a
private financing of the Company that is approved by the Board will not be considered a Change in Control;
or

 

(ii) Change
in Effective Control of the Company. If the Company has a class of securities
registered pursuant to Section 12 of the Exchange Act, a change in the effective control of the Company which occurs on the
date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment
or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For
purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of
additional control of the Company by the same Person will not be considered a Change in Control; or

 

    	 

    	 

    

 

(iii) Change
in Ownership of a Substantial Portion of the Company’s Assets. A change in
the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or
has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons)
assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market
value of all of the assets of the Company immediately prior to such acquisition or acquisitions. For purposes of this
subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being
disposed of, determined without regard to any liabilities associated with such assets.

 

For purposes
of this Section 2(f), persons will be considered to be acting as a group if they are owners of a corporation that enters into a
merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

 

Notwithstanding
the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event
within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury
Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time.

 

Further
and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole purpose is to change
the state of the Company’s incorporation, or (ii) its sole
purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the
Company’s securities immediately before such transaction.

 

(g) “Code”
means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will be a reference to any
successor or amended section of the Code.

 

(h) “Committee”
means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board, or by the
compensation committee of the Board, in accordance with Section 4 hereof.

 

(i)
“Common
Stock” means the common stock of the Company.

 

(j) “Company”
means KineMed, Inc., a Delaware corporation, or any successor thereto.

 

(k) “Consultant”
means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to render services to such
entity.

 

(l)
“Director”
means a member of the Board.

 

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(m) “Disability”
means total and permanent disability as defined in Code Section 22(e)(3), provided that in the case of Awards other than
Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in
accordance with uniform and non-discriminatory standards adopted by the Administrator from time to time.

 

(n) “Employee”
means any person, including officers and Directors, employed by the Company or any Parent or Subsidiary of the
Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to
constitute “employment” by the Company.

 

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

 

(p) “Exchange
Program” means a program under which (i) outstanding Awards are
surrendered or cancelled in exchange for Awards of the same type (which may have higher or lower exercise prices and
different terms), Awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any
outstanding Awards to a financial institution or other person or entity selected by the Administrator, and/or (iii) the
exercise price of an outstanding Award is reduced or increased. The Administrator will determine the terms and conditions of
any Exchange Program in its sole discretion.

 

(q) “Fair
Market Value” means, as of any date, the value of Common Stock determined
as follows:

 

(i) If
the Common Stock is listed on any established stock exchange or a national market system, including without limitation the
Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair
Market Value will be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such
exchange or system on the day of determination, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable;

 

(ii) If
the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market
Value of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination
(or, if no bids and asks were reported on that date, as applicable, on the last trading date such bids and asks were
reported), as reported in The Wall Street Journal or such other source as the Administrator deems reliable;
or

 

(iii) In
the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the
Administrator.

 

(r) “Incentive
Stock Option” means an Option that by its terms qualifies and is otherwise
intended to qualify as an incentive stock option within the meaning of Code Section 422 and the regulations promulgated
thereunder.

 

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(s) “Non-statutory
Stock Option” means an Option that by its terms does not qualify or is not
intended to qualify as an Incentive Stock Option.

 

(t)
“Option”
means a stock option granted pursuant to the Plan.

 

(u) “Parent”
means a “parent corporation,” whether now or hereafter existing, as defined in Code Section
424(e).

 

(v)
“Participant”
means the holder of an outstanding Award.

 

(w) “Period
of Restriction” means the period during which the transfer of Shares of
Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such
restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other
events as determined by the Administrator.

 

(x)
“Plan”
means this 2010 Equity Incentive Plan.

 

(y) “Restricted
Stock” means Shares issued pursuant to an Award of Restricted Stock under
Section 8 of the Plan, or issued pursuant to the early exercise of an Option.

 

(z) “Restricted
Stock Unit” means a bookkeeping entry representing an amount equal to the
Fair Market Value of one Share, granted pursuant to Section 0. Each Restricted Stock Unit represents an unfunded and
unsecured obligation of the Company.

 

(aa)
“Service Provider” means an Employee, Director or Consultant.

 

(bb)
“Share” means a share of the Common Stock, as adjusted in accordance
with Section 13 of the Plan.

 

(cc)
“Stock Appreciation Right” means an Award, granted alone or
in connection with an Option, that pursuant to Section 7 is designated as a Stock Appreciation Right.

 

(dd)
“Subsidiary” means a “subsidiary corporation,” whether
now or hereafter existing, as defined in Code Section 424(f).

 

		3.	Stock
Subject to the Plan.

 

(a) Stock
Subject to the Plan. Subject to the provisions of Section 13 of the Plan, the
maximum aggregate number of Shares that may be subject to Awards and sold under the Plan is 11,000,000 Shares, plus (i) any
Shares that had been reserved but not issued pursuant to any awards granted under the KineMed, Inc. 2001 Stock Option Plan
(the “2001 Plan”) and were not subject to any awards granted thereunder as of the date of termination of the 2001
Plan, and (ii) any Shares subject to stock options or similar awards granted under the 2001 Plan that expire or otherwise
terminate without having been exercised in full and Shares issued pursuant to awards granted under the 2001 Plan that are
forfeited to or repurchased by the Company, with the maximum number of Shares to be added to the Plan pursuant to clauses (i)
and (ii) equal to 46,000,000 Shares. The Shares may be authorized but unissued or reacquired Common Stock.

 

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(b) Lapsed
Awards. If an Award expires or becomes unexercisable without having been
exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock or Restricted Stock
Units, is forfeited to or repurchased by the Company due to the failure to vest, the unpurchased Shares (or for Awards other
than Options or Stock Appreciation Rights the forfeited or repurchased Shares) which were subject thereto will become
available for future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock Appreciation
Rights, only Shares actually issued pursuant to a Stock Appreciation Right will cease to be available under the Plan; all
remaining Shares under Stock Appreciation Rights will remain available for future grant or sale under the Plan (unless the
Plan has terminated). Shares that have actually been issued under the Plan under any Award will not be returned to the Plan
and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to
Awards of Restricted Stock or Restricted Stock Units are repurchased by the Company or are forfeited to the Company due to
the failure to vest, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price
of an Award or to satisfy the tax withholding obligations related to an Award will become available for future grant or sale
under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not
result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject to
adjustment as provided in Section 13, the maximum number of Shares that may be issued upon the exercise of Incentive Stock
Options will equal the aggregate Share number stated in Section 0, plus, to the extent allowable under Code Section 422 and
the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to
Section 0.

 

(c) Share
Reserve. The Company, during the term of this Plan, will at all times reserve
and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan.

 

		4.	Administration
of the Plan.

 

(a) Procedure.

 

(i) Multiple
Administrative Bodies. Different Committees with respect to different groups
of Service Providers may administer the Plan.

 

(ii) Other
Administration. Other than as provided above, the Plan will be administered
by (A) the Board or (B) a Committee, which Committee will be constituted to satisfy Applicable Laws.

 

(b) Powers
of the Administrator. Subject to the provisions of the Plan, and in the case of
a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the
authority, in its discretion:

 

(i) to
determine the Fair Market Value;

 

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(ii)
to select the Service Providers to whom Awards may be granted hereunder;

 

(iii) to
determine the number of Shares to be covered by each Award granted hereunder;

 

(iv)
to approve forms of Award Agreements for use under the Plan;

 

(v) to
determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms
and conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may
be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will
determine;

 

(vi) to
institute and determine the terms and conditions of an Exchange Program; to construe and interpret the terms of the Plan and
Awards granted pursuant to the Plan;

 

(vii) to
prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to
sub-plans established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment
under applicable foreign laws;

 

(viii) to
modify or amend each Award (subject to Section 18(c) of the Plan), including but not limited to the discretionary authority
to extend the post-termination exercisability period of Awards and to extend the maximum term of an Option (subject to
Section 6(d));

 

(ix) to
allow Participants to satisfy withholding tax obligations in a manner prescribed in Section 14;

 

(x) to
authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously
granted by the Administrator;

 

(xi) to
allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that otherwise would be due to such
Participant under an Award; and

 

(xii) to
make all other determinations deemed necessary or advisable for administering the Plan.

 

(c) Effect
of Administrator’s Decision. The Administrator’s decisions,
determinations and interpretations will be final and binding on all Participants and any other holders of
Awards.

 

5. Eligibility.
Non-statutory Stock Options, Stock Appreciation Rights, Restricted Stock, and Restricted Stock Units may be granted
to Service Providers. Incentive Stock Options may be granted only to Employees.

 

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		6.	Stock
Options.

 

(a) Grant
of Options. Subject to the terms and provisions of the Plan, the
Administrator, at any time and from time to time, may grant Options in such amounts as the Administrator, in its sole
discretion, will determine.

 

(b) Option
Agreement. Each Award of an Option will be evidenced by an Award Agreement that
will specify the exercise price, the term of the Option, the number of Shares subject to the Option, the exercise
restrictions, if any, applicable to the Option, and such other terms and conditions as the Administrator, in its sole
discretion, will determine.

 

(c) Limitations.
Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Non-statutory Stock Option.
Notwithstanding such designation, however, to the extent that the aggregate Fair Market Value of the Shares with respect to
which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans
of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options will be treated as
Non-statutory Stock Options. For purposes of this Section 6(c), Incentive Stock Options will be taken into account in the
order in which they were granted, the Fair Market Value of the Shares will be determined as of the time the Option with
respect to such Shares is granted, and calculation will be performed in accordance with Code Section 422 and Treasury
Regulations promulgated thereunder.

 

(d) Term
of Option. The term of each Option will be stated in the Award Agreement;
provided, however, that the term will be no more than ten (10) years from the date of grant thereof. In the case of an
Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock
representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any
Parent or Subsidiary, the term of the Incentive Stock Option will be five (5) years from the date of grant or such shorter
term as may be provided in the Award Agreement.

 

(e)
Option Exercise Price and Consideration.

 

(i) Exercise
Price. The per Share exercise price for the Shares to be issued pursuant to
the exercise of an Option will be determined by the Administrator, but will be no less than one hundred percent (100%) of the
Fair Market Value per Share on the date of grant. In addition, in the case of an Incentive Stock Option granted to an
Employee who owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company
or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair
Market Value per Share on the date of grant. Notwithstanding the foregoing provisions of this Section 6(e)(i), Options may be
granted with a per Share exercise price of less than one hundred percent (100%) of the Fair Market Value per Share on the
date of grant pursuant to a transaction described
in, and in a manner consistent with, Code Section 424(a).

 

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(ii) Waiting
Period and Exercise Dates. At the time an Option is granted, the Administrator
will fix the period within which the Option may be exercised and will determine any conditions that must be satisfied before
the Option may be exercised.

 

(iii) Form
of Consideration. The Administrator will determine the acceptable form of
consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the
Administrator will determine the acceptable form of consideration at the time of grant. Such consideration may consist
entirely of: (1) cash; (2) check; (3) promissory note, to the extent permitted by Applicable Laws, (4) other Shares, provided
that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to
which such Option will be exercised and provided further that accepting such Shares will not result in any adverse accounting
consequences to the Company, as the Administrator determines in its sole discretion; (5) consideration received by the
Company under cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection with
the Plan; (6) by net exercise, (7) such other consideration and method of payment for the issuance of Shares to the extent
permitted by Applicable Laws, or (8) any combination of the foregoing methods of payment. In making its determination as to
the type of consideration to accept, the Administrator will consider if acceptance of such consideration may be reasonably
expected to benefit the Company.

 

(f)
Exercise of Option.

 

(i) Procedure
for Exercise; Rights as a Stockholder.Any Option granted hereunder will be
exercisable according to the terms of the Plan and at such times and under such conditions as determined by the Administrator
and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share.

 

An Option
will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator may specify from
time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option
is exercised (together with applicable tax withholding). Full payment may consist of any consideration and method of payment authorized
by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued
in the name of the Participant or, if requested by the Participant, in the name of the Participant and his or her spouse. Until
the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent
of the Company), no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares
subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly
after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the
date the Shares are issued, except as provided in Section 13 of the Plan.

 

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Exercising
an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under
the Option, by the number of Shares as to which the Option is exercised.

 

(ii) Termination
of Relationship as a Service Provider. If a Participant ceases to be a Service
Provider, other than upon the Participant’s termination as the result of the Participant’s death or Disability,
the Participant may exercise his or her Option within thirty (30) days of termination, or such longer period of time as is
specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the
Award Agreement) to the extent that the Option is vested on the date of termination. Unless otherwise provided by the
Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered
by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or
her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option
will revert to the Plan.

 

(iii) Disability
of Participant. If a Participant ceases to be a Service Provider as a result of
the Participant’s Disability, the Participant may exercise his or her Option within six (6) months of termination, or
such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of
such Option as set forth in the Award Agreement) to the extent the Option is vested on the date of termination. Unless
otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire
Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the
Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares
covered by such Option will revert to the Plan.

 

(iv) Death
of Participant. If a Participant dies while a Service Provider, the Option
may be exercised within six (6) months following the Participant’s death, or within such longer period of time as is
specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the
Award Agreement) to the extent that the Option is vested on the date of death, by the Participant’s designated
beneficiary, provided such beneficiary has been designated prior to the Participant’s death in a form acceptable to the
Administrator. If no such beneficiary has been designated by the Participant, then such Option may be exercised by the
personal representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to
the Participant’s will or in accordance with the laws of descent and distribution. Unless otherwise provided by the
Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the
unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised within the time
specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

 

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		7.	Stock
Appreciation Rights.

 

(a) Grant
of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a
Stock Appreciation Right may be granted to Service Providers at any time and from time to time as will be determined by the
Administrator, in its sole discretion.

 

(b) Number
of Shares. The Administrator will have complete discretion to determine the
number of Shares subject to any Award of Stock Appreciation Rights.

 

(c) Exercise
Price and Other Terms. The per Share exercise price for the Shares that will
determine the amount of the payment to be received upon exercise of a Stock Appreciation Right as set forth in Section 7(f)
will be determined by the Administrator and will be no less than one hundred percent (100%) of the Fair Market Value per
Share on the date of grant. Otherwise, the Administrator, subject to the provisions of the Plan, will have complete
discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan.

 

(d) Stock
Appreciation Right Agreement. Each Stock Appreciation Right grant will be
evidenced by an Award Agreement that will specify the exercise price, the term of the Stock Appreciation Right, the
conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will
determine.

 

(e) Expiration
of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan
will expire upon the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement.
Notwithstanding the foregoing, the rules of Section 6(d) relating to the maximum term and Section 6(f) relating to exercise
also will apply to Stock Appreciation Rights.

 

(f) Payment
of Stock Appreciation Right Amount. Upon exercise of a Stock Appreciation
Right, a Participant will be entitled to receive payment from the Company in an amount determined by
multiplying:

 

(i) The
difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

 

(ii) The
number of Shares with respect to which the Stock Appreciation Right is exercised.

 

At the
discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value,
or in some combination thereof.

 

		8.	Restricted
Stock.

 

(a) Grant
of Restricted Stock. Subject to the terms and provisions of the Plan, the
Administrator, at any time and from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts
as the Administrator, in its sole discretion, will determine.

 

(b) Restricted
Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award
Agreement that will specify the Period of Restriction, the number of Shares granted, and such other terms and
conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the
Company as escrow agent will hold Shares of Restricted Stock until the restrictions on such Shares have lapsed.

 

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(c) Transferability.
Except as provided in this Section 8 or as the Administrator determines, Shares of Restricted Stock may not be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of
Restriction.

 

(d) Other
Restrictions. The Administrator, in its sole discretion, may impose such other
restrictions on Shares of Restricted Stock as it may deem advisable or appropriate.

 

(e) Removal
of Restrictions. Except as otherwise provided in this Section 8, Shares of
Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as
practicable after the last day of the Period of Restriction or at such other time as the Administrator may determine. The
Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be
removed.

 

(f) Voting
Rights. During the Period of Restriction, Service Providers holding Shares of
Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator
determines otherwise.

 

(g) Dividends
and Other Distributions. During the Period of Restriction, Service Providers
holding Shares of Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to
such Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Shares, the
Shares will be subject to the same restrictions on transferability and forfeit ability as the Shares of Restricted Stock with
respect to which they were paid.

 

(h) Return
of Restricted Stock to Company. On the date set forth in the Award Agreement,
the Restricted Stock for which restrictions have not lapsed will revert to the Company and again will become available for
grant under the Plan.

 

		9.	Restricted
Stock Units.

 

(a) Grant.
Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the
Administrator determines that it will grant Restricted Stock Units, it will advise the Participant in an Award Agreement of
the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock
Units.

 

(b) Vesting
Criteria and Other Terms. The Administrator will set vesting criteria in its
discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units
that will be paid out to the Participant. The Administrator may set vesting criteria based upon the achievement of Company-
wide, business unit, or individual goals (including, but not limited to, continued employment or service), or
any other basis determined by the Administrator in its discretion.

 

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(c) Earning
Restricted Stock Units. Upon meeting the applicable vesting criteria, the
Participant will be entitled to receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any
time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting
criteria that must be met to receive a payout.

 

(d) Form
and Timing of Payment. Payment of earned Restricted Stock Units will be made as
soon as practicable after the date(s) determined by the Administrator and set forth in the Award Agreement. The
Administrator, in its sole discretion, may settle earned Restricted Stock Units in cash, Shares, or a combination of
both.

 

(e) Cancellation.
On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to
the Company.

 

10. Compliance
With Code Section 409A. Awards will be designed and operated in such a manner
that they are either exempt from the application of, or comply with, the requirements of Code Section 409A, except as
otherwise determined in the sole discretion of the Administrator. The Plan and each Award Agreement under the Plan is
intended to meet the requirements of Code Section 409A and will be construed and interpreted in accordance with such intent,
except as otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the
settlement or deferral thereof, is subject to Code Section 409A the Award will be granted, paid, settled or deferred in a
manner that will meet the requirements of Code Section 409A, such that the grant, payment, settlement or deferral will not be
subject to the additional tax or interest applicable under Code Section 409A.

 

11. Leaves
of Absence/Transfer Between Locations. Unless the Administrator provides
otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Participant will not
cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations
of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave
may exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If
reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months
following the first (1st) day of such leave, any Incentive Stock Option held by the Participant will cease to be treated as
an Incentive Stock Option and will be treated for tax purposes as a Non-statutory Stock Option.

 

		12.	Limited
Transferability of Awards.

 

(a) Unless
determined otherwise by the Administrator, Awards may not be sold, pledged, assigned, hypothecated, or otherwise transferred
in any manner other than by will or by the laws of descent and distribution, and may be exercised, during the lifetime of the
Participant, only by the Participant. If the Administrator makes an Award transferable,
such Award may only be transferred (i) by will, (ii) by the laws of descent and distribution, or (iii) as permitted by Rule 701
of the Securities Act of 1933, as amended (the “Securities Act”).

 

    	12

    	 

    

 

(b) Further,
until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, or after the
Administrator determines that it is, will, or may no longer be relying upon the exemption from registration under the
Exchange Act as set forth in Rule 12h-1(f) promulgated under the Exchange Act, an Option, or prior to exercise, the Shares
subject to the Option, may not be pledged, hypothecated or otherwise transferred or disposed of, in any manner, including by
entering into any short position, any “put equivalent position” or any “call equivalent position” (as
defined in Rule 16a-1(h) and Rule 16a-1(b) of the Exchange Act, respectively), other than to (i) persons who are
“family members” (as defined in Rule 701(c)(3) of the Securities Act) through gifts or domestic relations orders,
or (ii) to an executor or guardian of the Participant upon the death or disability of the Participant. Notwithstanding the
foregoing sentence, the Administrator, in its sole discretion, may determine to permit transfers to the Company or in
connection with a Change in Control or other acquisition transactions involving the Company to the extent permitted by Rule
12h-1(f).

 

		13.	Adjustments;
Dissolution or Liquidation; Merger or Change in Control.

 

(a) Adjustments.
In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other
property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off,
combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure
of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits
or potential benefits intended to be made available under the Plan, will adjust the number and class of Shares that may be
delivered under the Plan and/or the number, class, and price of Shares covered by each outstanding Award; provided, however,
that the Administrator will make such adjustments to an Award required by Section 25102(o) of the California Corporations
Code to the extent the Company is relying upon the exemption afforded thereby with respect to the Award.

 

(b) Dissolution
or Liquidation. In the event of the proposed dissolution or liquidation of
the Company, the Administrator will notify each Participant as soon as practicable prior to the effective date of such
proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the
consummation of such proposed action.

 

    	13

    	 

    

 

(c) Merger
or Change in Control. In the event of a merger or Change in Control,
each outstanding Award will be treated as the Administrator determines (subject to the provisions of the proceeding
paragraph) without a Participant’s consent, including, without limitation, that (i) Awards will be assumed, or
substantially equivalent Awards will be substituted, by the acquiring or succeeding corporation (or an affiliate thereof)
with appropriate adjustments as to the number and kind of shares and prices; (ii) upon written notice to a Participant, that
the Participant’s Awards will terminate upon or immediately prior to the consummation of such merger or Change in
Control; (i) outstanding Awards will vest and become
exercisable, realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part prior to or upon
consummation of such merger or Change in Control, and, to the extent the Administrator determines, terminate upon or
immediately prior to the effectiveness of such merger or Change in Control; (iv) (A) the termination of an Award in exchange
for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such
Award or realization of the Participant’s rights as of the date of the occurrence of the transaction (and, for the
avoidance of doubt, if as of the date of the occurrence of the transaction the Administrator determines in good faith that no
amount would have been attained upon the exercise of such Award or realization of the Participant’s rights, then such
Award may be terminated by the Company without payment), or (B) the replacement of such Award with other rights or property
selected by the Administrator in its sole discretion; or (v) any combination of the foregoing. In taking any of the actions
permitted under this subsection 13(c), the Administrator will not be obligated to treat all Awards, all Awards held by a
Participant, or all Awards of the same type, similarly.

 

In the event
that the successor corporation does not assume or substitute for the Award (or portion thereof), the Participant will fully vest
in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which
such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will
lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed
achieved at one hundred percent (100%) of target levels and all other terms and conditions met. In addition, if an Option or Stock
Appreciation Right is not assumed or substituted in the event of a merger or Change in Control, the Administrator will notify the
Participant in writing or electronically that the Option or Stock Appreciation Right will be exercisable for a period of time determined
by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such
period.

 

For
the purposes of this subsection 13(c), an Award will be considered assumed if, following the merger or Change in Control, the
Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the merger or Change
in Control, the consideration (whether stock, cash, or other securities or property) received in the merger or Change in Control
by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice
of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however,
that if such consideration received in the merger or Change in Control is not solely common stock of the successor corporation
or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received
upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, for each Share subject
to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share
consideration received by holders of Common Stock in the merger or Change in Control.

 

    	14

    	 

    

 

Notwithstanding
anything in this Section 13(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more
performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without
the Participant’s consent; provided, however, a modification to such performance goals only to reflect the successor corporation’s
post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

 

Notwithstanding
anything in this Section 13(c) to the contrary, if a payment under an Award Agreement is subject to Code Section 409A and if the
change in control definition contained in the Award Agreement does not comply with the definition of “change of control”
for purposes of a distribution under Code Section 409A, then any payment of an amount that is otherwise accelerated under this
Section will be delayed until the earliest time that such payment would be permissible under Code Section 409A without triggering
any penalties applicable under Code Section 409A.

 

		14.	Tax
Withholding.

 

(a) Withholding
Requirements. Prior to the delivery of any Shares or cash pursuant to an Award
(or exercise thereof), the Company will have the power and the right to deduct or withhold, or require a Participant to remit
to the Company, an amount sufficient to satisfy federal, state, local, foreign or other taxes (including the
Participant’s FICA obligation) required to be withheld with respect to such Award (or exercise
thereof).

 

(b) Withholding
Arrangements.The Administrator, in its sole discretion and pursuant to
such procedures as it may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in
whole or in part by (without limitation) (i) paying cash, (ii) electing to have the Company withhold otherwise deliverable
Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, (iii) delivering to the
Company already-owned Shares having a Fair Market Value equal to the statutory amount required to be withheld, provided the
delivery of such Shares will not result in any adverse accounting consequences, as the Administrator determines in its
sole discretion, or (iv) selling a sufficient number of Shares otherwise deliverable to the Participant through such means as
the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required
to be withheld. The amount of the withholding requirement will be deemed to include any amount which the Administrator agrees
may be withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state
or local marginal income tax rates applicable to the Participant with respect to the Award on the date that the
amount of tax to be withheld is to be determined. The Fair Market Value of the Shares to be withheld or delivered will be
determined as of the date that the taxes are required to be withheld.

 

    	15

    	 

    

 

15. No
Effect on Employment or Service. Neither the Plan nor any Award will confer upon
a Participant any right with respect to continuing the Participant’s relationship as a Service Provider with the
Company, nor will they interfere in any way with the Participant’s right or the Company’s right to terminate such
relationship at any time, with or without cause, to the extent permitted by Applicable Laws.

 

16. Date
of Grant. The date of grant of an Award will be, for all purposes, the date on
which the Administrator makes the determination granting such Award, or such other later date as is determined by the
Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of
such grant.

 

17. Term
of Plan. Subject to Section 21 of the Plan, the Plan will become effective upon
its adoption by the Board. Unless sooner terminated under Section 18, it will continue in effect for a term of ten (10) years
from the later of (a) the effective date of the Plan, or (b) the earlier of the most recent Board or stockholder approval of
an increase in the number of Shares reserved for issuance under the Plan.

 

		18.	Amendment and Termination of the Plan.

 

(a) Amendment
and Termination. The Board may at any time amend, alter, suspend or terminate
the Plan.

 

(b) Stockholder
Approval. The Company will obtain stockholder approval of any Plan amendment to
the extent necessary and desirable to comply with Applicable Laws.

 

(c) Effect
of Amendment or Termination. No amendment, alteration, suspension or termination
of the Plan will impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the
Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will
not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted
under the Plan prior to the date of such termination.

 

		19.	Conditions Upon Issuance of Shares.

 

20. Legal
Compliance. Shares will not be issued pursuant to the exercise of an Award
unless the exercise of such Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be
further subject to the approval of counsel for the Company with respect to such compliance.

 

21. Investment
Representations. As a condition to the exercise of an Award, the Company may
require the person exercising such Award to represent and warrant at the time of any such exercise that the Shares are being
purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of
counsel for the Company, such a representation is required.

 

    	16

    	 

    

 

22. Inability
to Obtain Authority. The inability of the Company to obtain authority from any
regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful
issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or
sell such Shares as to which such requisite authority will not have been obtained.

 

23. Stockholder
Approval. The Plan will be subject to approval by the stockholders of the
Company within twelve (12) months after the date the Plan is adopted by the Board. Such stockholder approval will be obtained
in the manner and to the degree required under Applicable Laws.

 

24. Information
to Participants.Beginning on the earlier of (i) the date that the aggregate
number of Participants under this Plan is five hundred (500) or more and the Company is relying on the exemption provided by
Rule 12h-1(f)(1) under the Exchange Act and (ii) the date that the Company is required to deliver information to Participants
pursuant to Rule 701 under the Securities Act, and until such time as the Company becomes subject to the reporting
requirements of Section 13 or 15(d) of the Exchange Act, is no longer relying on the exemption provided by Rule 12h-1(f)(1)
under the Exchange Act or is no longer required to deliver information to Participants pursuant to Rule 701 under the
Securities Act, the Company shall provide to each Participant the information described in paragraphs (e)(3), (4), and (5) of
Rule 701 under the Securities Act not less frequently than every six (6) months with the financial statements being not more
than 180 days old and with such information provided either by physical or electronic delivery to the Participants or by
written notice to the Participants of the availability of the information on an Internet site that may be password-protected
and of any password needed to access the information. The Company may request that Participants agree to keep the information
to be provided pursuant to this section confidential. If a Participant does not agree to keep the information to be provided
pursuant to this section confidential, then the Company will not be required to provide the information unless otherwise
required pursuant to Rule 12h-1(f)(1) under the Exchange Act or Rule 701 of the Securities Act.

 

END

 

    	17Exhibit 10.5

2010 KINEMED, INC. EQUITY INCENTIVE
PLAN

STOCK OPTION AGREEMENT

 

 

a Delaware corporation

 

Unless otherwise defined
herein, the terms defined in the 2010 Equity Incentive Plan (the “Plan”) shall have the same defined meanings in this
Stock Option Agreement (the “Option Agreement”).

 

I.    NOTICE
OF STOCK OPTION GRANT

 

	Name:	«First_Name» «Last_Name»
	 	 
	Address:	«Address»
	 	«City», «State» «Zip»

 

The undersigned Participant
has been granted an Option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Option
Agreement, as follows:

 

	Grant Number:	«Grant_Name»
	 	 
	Date of Grant:	«Grant_Date»
	 	 
	Vesting Commencement Date:	«Vesting_Start»
	 	 
	Exercise Price per Share:	$ «Exercise_Price» («Exercise_Price_Words»)
	 	 
	Total Number of Shares Granted:	«Shares_Granted» («Shares_Granted_Words»)
	 	 
	Total Exercise Price:	$ «Total_Exercise_Price»
	 	(«Total_Exercise_Price_Words»)
	 	 
	Type of Option:	«Grant_Type»
	 	 
	Term/Expiration Date:	«Expiration»

 

Vesting Schedule:

 

This Option shall be
exercisable, in whole or in part, according to the following vesting schedule:

 

Twenty-five percent (25%)
of the Shares subject to the Option shall vest on the one (1) year anniversary of the Vesting Commencement Date, and one forty-eighth
(1/48th) of the Shares subject to the Option shall vest on the last day of each full month thereafter, subject to Participant
continuing to provide services to the Company either as an employee or as an independent contractor under a written consulting
contract (“Service Provider”) through each such date.

 

	 	2010 Equity Incentive Plan
	 	Stock Option Agreement

 

    	1

    	 

    

 

Termination Period:

 

This Option shall be
exercisable for thirty (30) days after Participant ceases to be a Service Provider, unless such termination is due to Participant’s
death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service
Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided
above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

 

II.    AGREEMENT

 

1.    Grant
of Option. The Administrator of the Company hereby grants to the Participant named in the Notice of Stock Option Grant in Part
I of this Agreement (“Participant”), an option (the “Option”) to purchase the number of Shares set forth
in the Notice of Stock Option Grant, at the exercise price per Share set forth in the Notice of Stock Option Grant (the “Exercise
Price”), and subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 18
of the Plan, in the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions
of the Plan shall prevail.

 

If designated in the
Notice of Stock Option Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive
Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code
Section 422(d), this Option shall be treated as a Non-statutory Stock Option (“NSO”). Further, if for any reason
this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such non-qualification, such Option (or portion
thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary
or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of
the Option to qualify for any reason as an ISO.

 

2.    Exercise
of Option.

 

(a)    Right
to Exercise. This Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice
of Stock Option Grant and with the applicable provisions of the Plan and this Option Agreement. Optionee may elect to exercise
the Option and pay the consideration for the Shares prior to the date Optionee is fully vested under the Vesting Schedule. In such
case, concurrently with the delivery of the Shares, Optionee shall execute and deliver to the Company an option agreement in favor
of the Company granting the Company the option to repurchase the Shares, or a portion thereof based on the Vesting Schedule, to
the extent Optionee is no longer with the Company in the time frames and on the terms described in the Vesting Schedule. The consideration
for the repurchase shall be the same consideration paid by Optionee to Company upon exercise of the Option.

 

	 	2010 Equity Incentive Plan
	 	Stock Option Agreement

 

    	2

    	 

    

 

(b)    Method
of Exercise. This Option shall be exercisable by delivery of an exercise notice in the form attached as Exhibit A
(the “Exercise Notice”) or in a manner and pursuant to such procedures as the Administrator may determine, which shall
state the election to exercise the Option, the number of Shares with respect to which the Option is being exercised (the “Exercised
Shares”), and such other representations and agreements as may be required by the Company. The Exercise Notice shall be accompanied
by payment of the aggregate Exercise Price as to all Exercised Shares, together with any applicable tax withholding. This Option
shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate
Exercise Price, together with any applicable tax withholding.

 

No Shares shall be
issued pursuant to the exercise of an Option unless such issuance and such exercise comply with Applicable Laws. Assuming such
compliance, for income tax purposes the Shares shall be considered transferred to Participant on the date on which the Option is
exercised with respect to such Shares.

 

3.    Participant’s
Representations. In the event the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), at the time this Option is exercised, Participant shall, if required by the Company, concurrently with the exercise
of all or any portion of this Option, deliver to the Company his or her Investment Representation Statement in the form attached
hereto as Exhibit B.

 

4.    Lock-Up
Period. Participant hereby agrees that Participant shall not offer, pledge, sell, contract to sell, sell any option or contract
to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer
or dispose of, directly or indirectly, any Common Stock (or other securities) of the Company or enter into any swap, hedging or
other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock
(or other securities) of the Company held by Participant (other than those included in the registration) for a period specified
by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred and eighty
(180) days following the effective date of any registration statement of the Company filed under the Securities Act (or such other
period as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication
or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the
restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto).

 

	 	2010 Equity Incentive Plan
	 	Stock Option Agreement

 

    	3

    	 

    

  

Participant agrees
to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are consistent
with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative
of the underwriters of Common Stock (or other securities) of the Company, Participant shall provide, within ten (10) days of such
request, such information as may be required by the Company or such representative in connection with the completion of any public
offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations
described in this Section 4 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8
or similar forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction
on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect
to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred and
eighty (180) day (or other) period. Participant agrees that any transferee of the Option or shares acquired pursuant to the Option
shall be bound by this Section 4.

 

5.    Method
of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election
of the Participant:

 

(a)    cash;

 

(b)    check;

 

(c)    consideration
received by the Company under a formal cashless exercise program adopted by the Company in connection with the Plan; or

 

(d)    surrender
of other Shares which (i) shall be valued at its Fair Market Value on the date of exercise, and (ii) must be owned free and clear
of any liens, claims, encumbrances or security interests, if accepting such Shares, in the sole discretion of the Administrator,
shall not result in any adverse accounting consequences to the Company.

 

6.    Restrictions
on Exercise. This Option may not be exercised until such time as the Plan has been approved by the stockholders of the Company,
or if the issuance of such Shares upon such exercise or the method of payment of consideration for such shares would constitute
a violation of any Applicable Law.

 

7.    Non-Transferability
of Option.

 

This Option may not
be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime
of Participant only by Participant. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators,
heirs, successors and assigns of Participant.

 

Further, until the
Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, or after the Administrator determines
that it is, will, or may no longer be relying upon the exemption from registration of Options under the Exchange Act as set forth
in Rule 12h-1(f) promulgated under the Exchange Act (the “Reliance End Date”), Participant shall not transfer this
Option or, prior to exercise, the Shares subject to this Option, in any manner other than (i) to persons who are “family
members” (as defined in Rule 701(c)(3) of the Securities Act) through gifts or domestic relations orders, or (ii) to an executor
or guardian of Participant upon the death or disability of Participant. Until the Reliance End Date, the Options and, prior to
exercise, the Shares subject to this Option, may not be pledged, hypothecated or otherwise transferred or disposed of, including
by entering into any short position, any “put equivalent position” or any “call equivalent position” (as
defined in Rule 16a-1(h) and Rule 16a-1(b) of the Exchange Act, respectively), other than as permitted in clauses (i) and (ii)
of this paragraph.

 

	 	2010 Equity Incentive Plan
	 	Stock Option Agreement

 

    	4

    	 

    

 

8.    Term
of Option. This Option may be exercised only within the term set out in the Notice of Stock Option Grant, and may be exercised
during such term only in accordance with the Plan and the terms of this Option Agreement.

 

9.    Tax
Obligations.

 

(a)    Tax
Withholding. Participant agrees to make appropriate arrangements with the Company (or the Parent or Subsidiary employing or
retaining Participant) for the satisfaction of all Federal, state, local and foreign income and employment tax withholding requirements
applicable to the Option exercise. Participant acknowledges and agrees that the Company may refuse to honor the exercise and refuse
to deliver the Shares if such withholding amounts are not delivered at the time of exercise.

 

(b)    Notice
of Disqualifying Disposition of ISO Shares. If the Option granted to Participant herein is an ISO, and if Participant sells
or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years
after the Date of Grant, or (ii) the date one (1) year after the date of exercise, Participant shall immediately notify the
Company in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company
on the compensation income recognized by Participant.

 

(c)    Code
Section 409A. Under Code Section 409A, an Option that vests after December 31, 2004 (or that vested on or prior to such date
but which was materially modified after October 3, 2004) that was granted with a per Share exercise price that is determined by
the Internal Revenue Service (the “IRS”) to be less than the Fair Market Value of a Share on the date of grant (a “discount
option”) may be considered “deferred compensation.” An Option that is a “discount option” may result
in (i) income recognition by Participant prior to the exercise of the Option, (ii) an additional twenty percent (20%) federal income
tax, and (iii) potential penalty and interest charges. The “discount option” may also result in additional state income,
penalty and interest tax to the Participant. Participant acknowledges that the Company cannot and has not guaranteed that the IRS
will agree that the per Share exercise price of this Option equals or exceeds the Fair Market Value of a Share on the date of grant
in a later examination. Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price
that was less than the Fair Market Value of a Share on the date of grant, Participant shall be solely responsible for Participant’s
costs related to such a determination.

 

	 	2010 Equity Incentive Plan
	 	Stock Option Agreement

 

    	5

    	 

    

 

10.    Entire
Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire
agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements
of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s
interest except by means of a writing signed by the Company and Participant. This Option Agreement is governed by the internal
substantive laws but not the choice of law rules of California.

 

11.    No
Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE
HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR
RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT
FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH
HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR
ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT
OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME,
WITH OR WITHOUT CAUSE.

 

Participant acknowledges
receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts
this Option subject to all of the terms and provisions thereof. Participant has reviewed the Plan and this Option in their entirety,
has had an opportunity to obtain the advice of counsel prior to executing this Option and fully understands all provisions of the
Option. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator
upon any questions arising under the Plan or this Option. Participant further agrees to notify the Company upon any change in the
residence address indicated below.

 

	 	2010 Equity Incentive Plan
	 	Stock Option Agreement

 

    	6

    	 

    

 

	PARTICIPANT:	 	KINEMED, INC.
	 	 	 
	 	 	 
	Signature	 	By
	 	 	 
	 	 	 
	Print Name	 	Print Name
	 	 	 
	 	 	 
	 	 	Title
	 	 	 
	 	 	 
	Mailing Address	 	 

 

	 	2010 Equity Incentive Plan
	 	Stock Option Agreement

 

    	7

    	 

    

 

EXHIBIT A

KineMed, Inc.

2010 EQUITY INCENTIVE
PLAN

EXERCISE NOTICE

KineMed, Inc.

Attention: CEO

5980 Horton Street, Suite
470

Emeryville, CA 94608-2012

 

1.    Exercise
of Option. Effective as of today, ____________, 20___, the undersigned (“Optionee”) hereby elects to exercise Optionee’s
option to purchase _________ shares of the Common Stock (the “Shares”) of KineMed, Inc., a Delaware corporation (the
“Company”) under and pursuant to the 2010 Equity Incentive Plan (the “Plan”) and the Stock Option Agreement
listed below (the “Option Agreement”):

 

	Grant Date	 	Grant Name	 	
        Shares 

        Granted
	 	Exercise Price	 	
        Shares 

        Exercised

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

2.    Delivery
of Payment. Purchaser herewith delivers to the Company _____, the full purchase price of the Shares, as set forth in
the Option Agreement.

 

3.    Representations
of Optionee. Optionee acknowledges that Optionee has received, read and understood the Plan and the Option Agreement and agrees
to abide by and be bound by their terms and conditions.

 

4.    Rights
as Stockholder. Until the issuance of the Shares (as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist
with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Shares shall be issued to the Optionee as soon
as practicable after the Option is exercised. No adjustment shall be made for a dividend or other right for which the record date
is prior to the date of issuance except as provided in Section 11 of the Plan.

 

	 	2010 Equity Incentive Plan
	 	Exercise Notice / Investment Representation 8 Statement

 

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5.    Company’s
Right of First Refusal. Before any of the Shares held by Optionee or any transferee (either being sometimes referred to herein
as the “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company
or its assignee(s) shall have a right of first refusal to purchase such Shares on the terms and conditions set forth in this Section
(the “Right of First Refusal”).

 

(a)    Notice
of Proposed Transfer. The Holder of the Shares shall deliver to the Company a written notice (the “Notice”) stating:
(i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each proposed purchaser
or other transferee (“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee;
and (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Shares (the “Offered
Price”), and the Holder shall offer the Shares at the Offered Price to the Company or its assignee(s).

 

(b)    Exercise
of Right of First Refusal. At any time within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s)
may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to be transferred
to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below.

 

(c)    Purchase
Price. The purchase price (“Purchase Price”) for the Shares purchased by the Company or its assignee(s) under this
Section shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the
non-cash consideration shall be determined by the Board of Directors of the Company in good faith.

 

(d)    Payment.
Payment of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check), by cancellation
of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee,
to the assignee), or by any combination thereof within 30 days after receipt of the Notice or in the manner and at the times set
forth in the Notice.

 

(e)    Holder’s
Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased
by the Company and/or its assignee(s) as provided in this Section, then the Holder may sell or otherwise transfer such Shares to
that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated within
120 days after the date of the Notice, that any such sale or other transfer is effected in accordance with any applicable securities
laws and that the Proposed Transferee agrees in writing that the provisions of this Section shall continue to apply to the Shares
in the hands of such Proposed Transferee. If the Shares described in the Notice are not transferred to the Proposed Transferee
within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the
Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred.

 

	 	2010 Equity Incentive Plan
	 	Exercise Notice / Investment Representation 8 Statement

 

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(f)    Exception
for Certain Family Transfers. Anything to the contrary contained in this Section notwithstanding, the transfer of any or all of
the Shares during the Optionee’s lifetime or on the Optionee’s death by will or intestacy to the Optionee’s immediate
family or a trust for the benefit of the Optionee’s immediate family shall be exempt from the provisions of this Section.
“Immediate Family” as used herein shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister.
In such case, the transferee or other recipient shall receive and hold the Shares so transferred subject to the provisions of this
Section, and there shall be no further transfer of such Shares except in accordance with the terms of this Section.

 

(g)    Termination
of Right of First Refusal. The Right of First Refusal shall terminate as to any Shares upon the first sale of Common Stock of the
Company to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange
Commission under the Securities Act of 1933, as amended.

 

6.    Tax
Consultation. Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or
disposition of the Shares. Optionee represents that Optionee has consulted with any tax consultants Optionee deems advisable in
connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice.

 

7.    Restrictive
Legends and Stop-Transfer Orders.

 

(a)    Legends.
Optionee understands and agrees that the Company shall cause the legends set forth below or legends substantially equivalent thereto,
to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by
the Company or by state or federal securities laws:

 

THE SHARES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) OR QUALIFIED
OR REGISTERED UNDER ANY STATE SECURITIES LAWS. THESE SHARES ARE “RESTRICTED SECURITIES” AS DEFINED IN RULE 144 UNDER
THE ACT. THESE SHARES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALES AND MAY NOT BE OFFERED,
SOLD, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED IN ANY MANNER ABSENT EITHER AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH
SHARES UNDER THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS OR THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO
THE COMPANY AND ITS COUNSEL (SUCH SATISFACTION BEING TO THE FORM AND SUBSTANCE OF THE OPINION AS WELL AS THE COUNSEL RENDERING
THE OPINION) THAT REGISTRATION AND/OR QUALIFICATION IS NOT REQUIRED.

 

	 	2010 Equity Incentive Plan
	 	Exercise Notice / Investment Representation 8 Statement

 

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THE SHARES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY THE ISSUER OR ITS ASSIGNEE(S)
AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED
AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER ESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE
SHARES.

 

(b)    Stop-Transfer
Notices. Optionee agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate
“stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities,
it may make appropriate notations to the same effect in its own records.

 

(c)    Refusal
to Transfer. The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred
in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote
or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred.

 

8.    Successors
and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement
shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth,
this Agreement shall be binding upon Optionee and his or her heirs, executors, administrators, successors and assigns.

 

9.    Interpretation.
Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or by the Company forthwith to the Administrator
which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall be final
and binding on all parties.

 

10.    Severability.
If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded
from this Agreement and the balance of this Agreement shall be enforceable in accordance with its terms and shall be interpreted
as if such provisions were excluded.

 

11.    Further
Assurances. From time to time before or after the delivery of the Shares, the parties shall, at the reasonable request of one another
and without further consideration, execute and deliver or cause to be executed and delivered such instruments, and take such other
actions as any party may reasonably request in order fully to effectuate the transactions contemplated by this Agreement.

 

12.    Notices.
Any and all notices or other communications required or permitted by this Agreement or by law to be served on or given to a party
hereto by the other party shall be deemed given: (a) when personally delivered, (b) one (1) business day after deposit with United
Parcel Service, Federal Express or other courier for overnight delivery, charges prepaid, or (c) after written confirmation from
the fax machine of the party sending the notice that the notice has been transmitted successfully, in each case addressed to the
following address or faxed to the following number:

 

	 	2010 Equity Incentive Plan
	 	Exercise Notice / Investment Representation 8 Statement

 

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	If to the Company:	KineMed, Inc.
	 	Attention: CEO
	 	5980 Horton Street, Suite 470
	 	Emeryville, CA 94608
	 	Fax:  (510) 655-6506

 

If to Optionee, at
the address or to the fax number set forth on the signature page of the Stock Option Agreement. Either party may change the address
or fax number by written notice to the other party.

 

13.    Dispute
Resolution - Mandatory Mediation and Arbitration as EXCLUSIVE Remedies. The parties agree that all claims, disputes or controversies
arising out of or relating to this Agreement shall be resolved and determined exclusively under the mandatory mediation and arbitration
procedures described below. Before filing for mandatory and binding arbitration respect to any dispute, controversy or claim arising
out of or relating to this Agreement, the parties shall be obligated first to seek by good faith efforts to resolve such matter
by mediation. As a condition precedent to filing for mandatory arbitration, a Notice of Claim shall be sent to the other party.
The Notice of Claim shall specify the nature of the dispute, controversy and (or) claim and shall include the name of a proposed
independent third party mediator or organization of mediators who shall be located in either Alameda County or the City and County
of San Francisco, CA. The party receiving the Notice of Claim shall within fifteen days thereafter either consent to mediate the
matter in front of the mediator or organization of mediators so proposed or suggest an alternative mediator or organization of
mediators likewise so located. The parties shall undertake good faith efforts for a period of thirty days thereafter to appoint
a mediator and submit the dispute, controversy and (or) claims to mediation. The mediation shall be held in either Alameda County
or the City and County of San Francisco, CA notwithstanding that certain duties of Employee may be performed elsewhere. If the
mediation attempt is unsuccessful, either party thereafter shall be entitled to seek binding arbitration. The parties by mutual
consent may elect to have the mediator act as the neutral arbitrator to render mandatory and binding decision. If either party
objects to having the mediator act as the binding arbitrator, the dispute will be referred to the American Arbitration Association
(“AAA”) for appointment of a neutral arbitrator for a mandatory final and binding determination pursuant to the Commercial
Rules (the “Rules”) of the AAA. Such arbitration shall be administered by the AAA and shall be held in either Alameda
County or the City and County of San Francisco, CA. Binding arbitration shall be initiated by a written request for arbitration
delivered by one party to the other party and to the AAA. A neutral arbitrator will be selected in accordance with the Rules. The
hearing will be commenced within 60 days of the selection of the arbitrators. Pending the hearing, the parties shall be entitled
to undertake discovery proceedings, including the taking of depositions, in accordance with California Code of Civil Procedure
Section 1283.05, the provisions of which are hereby incorporated into this Agreement. Within fifteen (15) days following the closing
of the hearing, a final decision will be made concerning the disputed matter, which decision and the basis thereof will be in writing
and delivered to the parties. The final decision of the arbitrator will be binding on the parties and enforceable in any court
of law having jurisdiction thereof. Pending final decision of the disputed matter, the parties will continue diligently to observe
and perform the terms of this Agreement. In such arbitration, (i) the prevailing party will be entitled to recover his or its reasonable
attorneys’ fees and costs, and (ii) the non-prevailing party shall responsible for the costs of arbitration (including, but
not limited to the costs of the arbitrator and AAA fees) as and to the extent determined by the arbitrator.

 

	 	2010 Equity Incentive Plan
	 	Exercise Notice / Investment Representation 8 Statement

 

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THE PARTIES HAVE READ
AND UNDERSTAND THAT THIS SECTION SETS OUT MANDATORY MEDIATION AND ARBITRATION PROCEDURES TO RESOLVE ALL DISPUTES HEREUNDER. BY
SIGNING THIS AGREEMENT, EACH PARTY AGREES, TO THE EXTENT PERMITTED BY LAW, TO SUBMIT ANY FUTURE CLAIMS ARISING OUT OF, RELATING
TO, OR CONNECTED WITH THIS AGREEMENT, OR THE INTERPRETATION, VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH, OR TERMINATION THEREOF
TO BINDING ARBITRATION AND THAT THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF EACH PARTY’S RIGHT TO A JURY TRIAL.

 

14.    Governing
Law. Matters relating solely to corporate law to the extent set forth in the General Corporation Law of the State of Delaware shall
be governed by the laws of Delaware. All other matters, such as the interpretation of the rights granted and the obligations of
the parties under this Agreement, will be governed by the laws of the State of California as such laws are applied to agreements
between California residents entered into and to be performed entirely within California.

 

15.    Entire
Agreement. The 2010 Equity Incentive Plan and Stock Option Agreement are incorporated herein by reference. This Exercise Notice,
the 2010 Equity Incentive Plan, the Stock Option Agreement and the Investment Representation Statement constitute the entire agreement
of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements
of the Company and Optionee with respect to the subject matter hereof, and may not be modified adversely to the Optionee's interest
except by means of a writing signed by the Company and Optionee.

 

16.    Counterparts;
Facsimile Signatures. This Agreement may be executed in counterpart originals, each of which together shall constitute one binding
agreement. Signatures on a counterpart copy of this page shall be deemed to incorporate all of the provisions of this Agreement.
Each party may rely on a signed counterpart copy of this Agreement or an executed counterpart of this signature page with the same
effect as if one originally executed complete document were delivered to such party. The facsimile signature of any party shall
be deemed to be the party’s binding signature to this Agreement; thus, a signed counterpart of this signature page faxed
to the other party may be relied upon by the receiving party with the same effect as if a complete originally executed Agreement
were delivered and received by such party.

 

	 	2010 Equity Incentive Plan
	 	Exercise Notice / Investment Representation 8 Statement

 

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	Submitted by Optionee:	 	 	Accepted by Company:
	 	 	 	 
	Name:	 	 	KineMed, Inc.
	 	 	 	 
	Signature:	 	By:	 
	 	 	 	 
	Social Security #:	 	 	Title:
	 	 	 	 
	Email address:	 	 	Date Received:
	 	 	 	 
	Mailing Address for Certificate:	 	 

 

	 	2010 Equity Incentive Plan
	 	Exercise Notice / Investment Representation 8 Statement

 

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EXHIBIT B

INVESTMENT REPRESENTATION
STATEMENT

 

	OPTIONEE:	 
	 	 
	COMPANY:	KineMed, Inc., a Delaware corporation
	 	 
	SECURITY:	COMMON STOCK
	 	 
	AMOUNT:	                               Shares
	 	 
	DATE:	 

 

In connection with
the purchase of the above-listed Security, the undersigned Optionee represents to the Company the following:

 

(1)    Optionee
is aware of the Company's business affairs and financial condition and has acquired sufficient information about the Company to
reach an informed and knowledgeable decision to acquire the Securities. Optionee is acquiring these Securities for investment for
Optionee’s own account only and not with a view to, or for resale in connection with, any “distribution” thereof
within the meaning of the Securities Act of 1933, as amended (the “Securities Act”).

 

(2)    Optionee
acknowledges and understands that the Securities constitute “restricted securities” under the Securities Act and have
not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among
other things, the bona fide nature of Optionee’s investment intent as expressed herein. In this connection, Optionee understands
that, in the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Optionee’s
representation was predicated solely upon a present intention to hold these Securities for the minimum capital gains period specified
under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period
of one year or any other fixed period in the future. Optionee further understands that the Securities must be held indefinitely
unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Optionee
further acknowledges and understands that the Company is under no obligation to register the Securities. Optionee understands that
the certificate evidencing the Securities will be imprinted with a legend which prohibits the transfer of the Securities unless
they are registered or such registration is not required in the opinion of counsel satisfactory to the Company, and unless there
is compliance as required under applicable state securities laws.

  

	 	2010 Equity Incentive Plan
	 	Exercise Notice / Investment Representation 8 Statement

 

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(3)    Optionee
is familiar with the provisions of Rule 701 and Rule 144, each promulgated under the Securities Act, which, in substance, permit
limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public
offering subject to the satisfaction of certain conditions. Rule 701 provides that if the issuer qualifies under Rule 701 at the
time of the grant of the Option to the Optionee, the exercise will be exempt from registration under the Securities Act. In the
event the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934,
ninety (90) days thereafter (or such longer period as any market stand-off agreement may require) the Securities exempt under Rule
701 may be resold, subject to the satisfaction of certain of the conditions specified by Rule 144, including: (1) the resale being
made through a broker in an unsolicited "broker's transaction" or in transactions directly with a market maker (as said
term is defined under the Securities Exchange Act of 1934); and, in the case of an affiliate, (2) the availability of certain public
information about the Company, (3) the amount of Securities being sold during any three month period not exceeding the limitations
specified in Rule 144(e), and (4) the timely filing of a Form 144, if applicable.

 

In the event that the
Company does not qualify under Rule 701 at the time of grant of the Option, then the Securities may be resold in certain limited
circumstances subject to the provisions of Rule 144, which requires the resale to occur not less than two years after the later
of the date the Securities were sold by the Company or the date the Securities were sold by an affiliate of the Company, within
the meaning of Rule 144; and, in the case of acquisition of the Securities by an affiliate, or by a non-affiliate who subsequently
holds the Securities less than three years, the satisfaction of the conditions set forth in sections (1), (2), (3) and (4) of the
paragraph immediately above.

 

(4)    Optionee
further understands that in the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration under
the Securities Act, compliance with Regulation A, or some other registration exemption will be required; and that, notwithstanding
the fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion
that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to
Rules 144 or 701 will have a substantial burden of proof in establishing that an exemption from registration is available for such
offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk.
Optionee understands that no assurances can be given that any such other registration exemption will be available in such event.

 

Signature of Optionee:

 

	 	 

 

Date:_________________________,
20____

 

	 	2010 Equity Incentive Plan
	 	Exercise Notice / Investment Representation 8 Statement

 

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