Document:

Exhibit 10.1

 

OLEMA PHARMACEUTICALS,
INC.

2014 STOCK PLAN

 

1.            
Establishment, Purpose and Term Of Plan.

 

1.1          
Establishment. Olema Pharmaceuticals, Inc. 2014 Stock Plan (the “Plan”) is hereby established
effective as of December 24, 2014 (the “Effective Date”).

 

1.2          
Purpose. The purpose of the Plan is to advance the interests of the Company and its stockholders by providing an
incentive to attract, retain and reward persons performing services for the Company and by motivating such persons to contribute
to the growth and profitability of the Company. The Company intends that securities issued pursuant to the Plan be exempt from
requirements of registration and qualification of such securities pursuant the exemptions afforded by Rule 701 promulgated under
the Securities Act and any other applicable exemptions, and the Plan shall be so construed. Further, the Company intends that Awards
granted pursuant to the Plan be exempt from or comply with Section 409A of the Code (including any amendments or replacements of
such section), and the Plan shall be so construed.

 

1.3         
Term of Plan. The Plan shall continue in effect until its termination by the Board; provided, however, that all Awards
shall be granted, if at all, within ten (10) years from the earlier of the date the Plan is adopted by the Board or the date the
Plan is duly approved by the stockholders of the Company.

 

2.            
Definitions and Construction.

 

2.1          
Definitions. Whenever used herein, the following terms shall have their respective meanings set forth below:

 

(a)           
“Award” means an Option, Restricted Stock Purchase Right or Restricted Stock Bonus granted under
the Plan.

 

(b)          
“Award Agreement” means a written or electronic agreement between the Company and a Participant
setting forth the terms, conditions and restrictions of the Award granted to the Participant.

 

(c)          
“Board” means the Board of Directors of the Company. If one or more Committees have been appointed
by the Board to administer the Plan, “Board” also means such Committee(s).

 

     

     

    

 

(d)           “Cause”
means, unless such term or an equivalent term is otherwise defined by the applicable Award Agreement or other written
agreement between a Participant and the Company applicable to an Award, any of the following: (i) the Participant’s
theft, dishonesty, willful misconduct, breach of fiduciary duty for personal profit, or falsification of the Company
documents or records; (ii) the Participant’s material failure to abide by the Company’s code of conduct or other
policies (including, without limitation, policies relating to confidentiality and reasonable workplace conduct); (iii) the
Participant’s unauthorized use, misappropriation, destruction or diversion of any tangible or intangible asset or
corporate opportunity of the Company (including, without limitation, the Participant’s improper use or disclosure of
the Company’s confidential or proprietary information); (iv) any intentional act by the Participant which has a
material detrimental effect on the Company’s reputation or business; (v) the Participant’s repeated failure or
inability to perform any reasonable assigned duties after written notice from the Company of, and a reasonable opportunity to
cure, such failure or inability; (vi) any material breach by the Participant of any employment or service agreement between
the Participant and the Company, which breach is not cured pursuant to the terms of such agreement; or (vii) the
Participant’s conviction (including any plea of guilty or nolo contendere) of any criminal act involving fraud,
dishonesty, misappropriation or moral turpitude, or which impairs the Participant’s ability to perform his or her
duties with the Company.

 

(e)          
“Change in Control” means, unless such term or an equivalent term is otherwise defined by the
applicable Award Agreement or other written agreement between the Participant and the Company applicable to an Award, the occurrence
of any of the following:

 

(i)          an Ownership Change Event or a series of related Ownership Change Events (collectively, a “Transaction”)
in which the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction direct
or indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding securities
entitled to vote generally in the election of Directors or, in the case of an Ownership Change Event described in Section 2.1(u)(iii),
the entity to which the assets of the Company were transferred (the “Transferee”), as the case may be;
or

 

(ii)        
approval by the stockholders of a plan of complete liquidation or dissolution of the Company;

 

provided, however, that
a Change in Control shall be deemed not to include a transaction described in subsections (i) of this Section 2.1(e) in which a
majority of the members of the board of directors of the continuing, surviving or successor entity, or parent thereof, immediately
after such transaction is comprised of Incumbent Directors.

 

For purposes of the preceding
sentence, indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting securities
of one or more corporations or other business entities which own the Company or the Transferee, as the case may be, either directly
or through one or more subsidiary corporations or other business entities. The Board shall have the right to determine whether
multiple sales or exchanges of the voting securities of the Company or multiple Ownership Change Events are related, and its determination
shall be final, binding and conclusive.

 

(f)           
“Code” means the Internal Revenue Code of 1986, as amended, and any applicable regulations and
administrative guidelines promulgated thereunder.

 

(g)           “Committee”
means the compensation committee or other committee or subcommittee of the Board duly appointed to administer the Plan and
having such powers as shall be specified by the Board. Unless the powers of the Committee have been specifically limited, the
Committee shall have all of the powers of the Board granted herein, including, without limitation, the power to amend or
terminate the Plan at any time, subject to the terms of the Plan and any applicable limitations imposed by law.

 

     

     

    

 

(h)          
“Company” means Olema Pharmaceuticals, Inc., a Delaware corporation, or any successor corporation
thereto.

 

(i)           
“Consultant” means a person engaged to provide consulting or advisory services (other than as
an Employee or a Director) to the Company, provided that the identity of such person, the nature of such services or the entity
to which such services are provided would not preclude the Company from offering or selling securities to such person pursuant
to the Plan in reliance on either the exemption from registration provided by Rule 701 under the Securities Act or, if the Company
is required to file reports pursuant to Section 13 or 15(d) of the Exchange Act, registration on a Form S-8 Registration Statement
under the Securities Act.

 

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

 

(k)              
“Disability” means the inability of the Participant, in the opinion of a qualified physician acceptable
to the Company, to perform the major duties of the Participant’s position with the Company because of the sickness or injury
of the Participant.

 

(l)           
“Employee” means any person treated as an employee (including an Officer or a Director who is
also treated as an employee) in the records of the Company and, with respect to any Incentive Stock Option granted to such person,
who is an employee for purposes of Section 422 of the Code; provided, however, that neither service as a Director nor payment of
a director’s fee shall be sufficient to constitute employment for purposes of the Plan. The Company shall determine in good
faith and in the exercise of its discretion whether an individual has become or has ceased to be an Employee and the effective
date of such individual’s employment or termination of employment, as the case may be. For purposes of an individual’s
rights, if any, under the terms of the Plan as of the time of the Company’s determination of whether or not the individual
is an Employee, all such determinations by the Company shall be final, binding and conclusive as to such rights, if any, notwithstanding
that the Company or any court of law or governmental agency subsequently makes a contrary determination as to such individual’s
status as an Employee.

 

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

 

(n)          
“Fair Market Value” means, as of any date, the value of a share of Stock or other property as
determined by the Board, in its discretion, or by the Company, in its discretion, if such determination is expressly allocated
to the Company herein, subject to the following:

 

(i)          If,
on such date, the Stock is listed or quoted on a national or regional securities exchange or quotation system, the Fair
Market Value of a share of Stock shall be the closing price of a share of Stock as quoted on the national or regional
securities exchange or quotation system constituting the primary market for the Stock, as reported in The Wall Street Journal
or such other source as the Company deems reliable. If the relevant date does not fall on a day on which the Stock has traded
on such securities exchange or quotation system, the date on which the Fair Market Value shall be established shall be the
last day on which the Stock was so traded or quoted prior to the relevant date, or such other appropriate day as shall be
determined by the Board, in its discretion.

 

     

     

    

 

(ii)        
If, on such date, the Stock is not listed or quoted on a national or regional securities exchange or quotation system, the
Fair Market Value of a share of Stock shall be as determined by the Board in good faith without regard to any restriction other
than a restriction which, by its terms, will never lapse, and in a manner consistent with the requirements of Section 409A of the
Code.

 

(o)          
“Incentive Stock Option” means an Option intended to be (as set forth in the Award Agreement)
and which qualifies as an incentive stock option within the meaning of Section 422(b) of the Code.

 

(p)          
“Incumbent Director” means a director who either (i) is a member of the Board as of the Effective
Date or (ii) is elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent
Directors at the time of such election or nomination (but excluding a director who was elected or nominated in connection with
an actual or threatened proxy contest relating to the election of directors of the Company).

 

(q)          
“Insider” means an Officer, a Director or other person whose transactions in Stock are subject
to Section 16 of the Exchange Act.

 

(r)           
“Nonstatutory Stock Option” means an Option not intended to be (as set forth in the Award Agreement)
or which does not qualify as an incentive stock option within the meaning of Section 422(b) of the Code.

 

(s)           
“Officer” means any person designated by the Board as an officer of the Company.

 

(t)           
“Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant to the
Plan.

 

(u)          
“Ownership Change Event” means the occurrence of any of the following with respect to the Company:
(i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of
securities of the Company representing more than fifty percent (50%) of the total combined voting power of the Company’s
then-outstanding securities entitled to vote generally in the election of Directors; (ii) a merger or consolidation in which the
Company is a party; or (iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company (other than
a sale, exchange or transfer to one or more subsidiaries of the Company).

 

(v)          
“Participant” means any eligible person who has been granted one or more Awards.

 

(w)          
“Restricted Stock Award” means an Award of a Restricted Stock Bonus or a Restricted Stock Purchase
Right.

 

     

     

    

 

(x)           
 “Restricted Stock Bonus” means Stock granted to a Participant pursuant to Section 7.

 

(y)          
“Restricted Stock Purchase Right” means a right to purchase Stock granted to a Participant pursuant
to Section 7.

 

(z)           
“Rule 16b-3” means Rule 16b-3 under the Exchange Act, as amended from time to time, or any successor
rule or regulation.

 

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

 

(bb)       
“Service” means a Participant’s employment or service with the Company, whether as an Employee,
a Director or a Consultant. Unless otherwise provided by the Board, a Participant’s Service shall not be deemed to have terminated
merely because of a change in the capacity in which the Participant renders such Service or a change in the Company for which the
Participant renders such Service, provided that there is no interruption or termination of the Participant’s Service. Furthermore,
a Participant’s Service shall not be deemed to have been interrupted or terminated if the Participant takes any military
leave, sick leave, or other bona fide leave of absence approved by the Company. However, unless otherwise provided by the Board,
if any such leave taken by a Participant exceeds ninety (90) days, then on the ninety-first (91st) day following the commencement
of such leave the Participant’s Service shall be deemed to have terminated, unless the Participant’s right to return
to Service is guaranteed by statute or contract. Notwithstanding the foregoing, unless otherwise designated by the Company or required
by law, an unpaid leave of absence shall not be treated as Service for purposes of determining vesting under the Participant’s
Award Agreement. A Participant’s Service shall be deemed to have terminated either upon an actual termination of Service
or upon the business entity for which the Participant performs Service ceasing to be the Company. Subject to the foregoing, the
Company, in its discretion, shall determine whether the Participant’s Service has terminated and the effective date of and
reason for such termination.

 

(cc)         
“Stock” means the non-voting common stock of the Company, as adjusted from time to time in accordance
with Section 4.3.

 

(dd)        
“Subsidiary Corporation” means any present or future “subsidiary corporation” of the
Company, as defined in Section 424(f) of the Code.

 

(ee)         
“Ten Percent Stockholder” means a person who, at the time an Award is granted to such person,
owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company within
the meaning of Section 422(b)(6) of the Code.

 

(ff)          
“Trading Compliance Policy” means the written policy of the Company pertaining to the purchase,
sale, transfer or other disposition of the Company’s equity securities by Directors, Officers, Employees or other service
providers who may possess material, nonpublic information regarding the Company or its securities.

 

(gg)         “Vesting
Conditions” mean those conditions established in accordance with the Plan prior to the satisfaction of which
shares subject to an Award remain subject to forfeiture or a repurchase option in favor of the Company exercisable for the
Participant’s monetary purchase price, if any, for such shares upon the Participant’s termination of Service.

 

     

     

    

 

2.2          
Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation
of any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural
shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context
clearly requires otherwise.

 

3.            
Administration.

 

3.1          
Administration by the Board. The Plan shall be administered by the Board. All questions of interpretation of the
Plan, of any Award Agreement or of any other form of agreement or other document employed by the Company in the administration
of the Plan or of any Award shall be determined by the Board, and such determinations shall be final, binding and conclusive upon
all persons having an interest in the Plan or such Award, unless fraudulent or made in bad faith. Any and all actions, decisions
and determinations taken or made by the Board in the exercise of its discretion pursuant to the Plan or Award Agreement or other
agreement thereunder (other than determining questions of interpretation pursuant to the preceding sentence) shall be final, binding
and conclusive upon all persons having an interest therein. All expenses incurred in connection in the administration of the Plan
shall be paid by the Company.

 

3.2         
Authority of Officers. Any Officer shall have the authority to act on behalf of the Company with respect to any matter,
right, obligation, determination or election which is the responsibility of or which is allocated to the Company herein, provided
the Officer has apparent authority with respect to such matter, right, obligation, determination or election.

 

3.3          
Powers of the Board. In addition to any other powers set forth in the Plan and subject to the provisions of the Plan,
the Board shall have the full and final power and authority, in its discretion:

 

(a)           
to determine the persons to whom, and the time or times at which, Awards shall be granted and the number of shares of Stock
to be subject to each Award;

 

(b)           
to determine the type of Award granted;

 

(c)           
to determine the Fair Market Value of shares of Stock or other property;

 

(d)           to
determine the terms, conditions and restrictions applicable to each Award (which need not be identical) and any shares
acquired pursuant thereto, including, without limitation, (i) the exercise or purchase price of shares pursuant to any Award,
(ii) the method of payment for shares purchased pursuant to any Award, (iii) the method for satisfaction of any tax
withholding obligation arising in connection with any Award, including by the withholding or delivery of shares of Stock,
(iv) the timing, terms and conditions of the exercisability or vesting of any Award or any shares acquired pursuant thereto,
(v) the time of expiration of any Award, (vi) the effect of any Participant’s termination of Service on any of the
foregoing, and (vii) all other terms, conditions and restrictions applicable to any Award or shares acquired pursuant thereto
not inconsistent with the terms of the Plan;

 

     

     

    

 

(e)          
to approve one or more forms of Award Agreement;

 

(f)           
to amend, modify, extend, cancel or renew any Award or to waive any restrictions or conditions applicable to any Award or
any shares acquired pursuant thereto;

 

(g)         
to reprice or otherwise adjust the exercise price of any Option, or to grant in substitution for any Option a new Award
covering the same or different number of shares of Stock;

 

(h)          
to accelerate, continue, extend or defer the exercisability or vesting of any Award or any shares acquired pursuant thereto,
including with respect to the period following a Participant’s termination of Service;

 

(i)           
to prescribe, amend or rescind rules, guidelines and policies relating to the Plan, or to adopt sub-plans or supplements
to, or alternative versions of, the Plan, including, without limitation, as the Board deems necessary or desirable to comply with
the laws of, or to accommodate the tax policy, accounting principles or custom of, foreign jurisdictions whose citizens may be
granted Awards; and

 

(j)           
to correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award Agreement and to make
all other determinations and take such other actions with respect to the Plan or any Award as the Board may deem advisable to the
extent not inconsistent with the provisions of the Plan or applicable law.

 

3.4          
Administration with Respect to Insiders. With respect to participation by Insiders in the Plan, at any time that
any class of equity security of the Company is registered pursuant to Section 12 of the Exchange Act, the Plan shall be administered
in compliance with the requirements, if any, of Rule 16b-3.

 

3.5         
Indemnification. In addition to such other rights of indemnification as they may have as members of the Board or
as officers or employees of the Company, members of the Board and any officers or employees of the Company to whom authority to
act for the Board or the Company is delegated shall be indemnified by the Company against all reasonable expenses, including attorneys’
fees, actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in connection with
any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection
with the Plan, or any right granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement
is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action,
suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such
person is liable for gross negligence, bad faith or intentional misconduct in duties; provided, however, that within sixty (60)
days after the institution of such action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity
at its own expense to handle and defend the same.

 

     

     

    

 

4.            
 Shares Subject to Plan.

 

4.1          
Maximum Number of Shares Issuable. Subject to adjustment as provided in Sections 4.2 and 4.3, the maximum aggregate
number of shares of Stock that may be issued under the Plan shall be thirteen million five hundred thousand (13,500,000) and shall
consist of authorized but unissued or reacquired shares of Stock or any combination thereof.

 

4.2         
Share Counting. If an outstanding Award for any reason expires or is terminated or canceled without having been exercised
or settled in full, or if shares of Stock are acquired pursuant to an Award subject to forfeiture or repurchase and are forfeited
or repurchased by the Company for an amount not greater than the Participant’s exercise or purchase price, the shares of
Stock allocable to the terminated portion of such Award or such forfeited or repurchased shares of Stock shall again be available
for issuance under the Plan. Shares of Stock shall not be deemed to have been issued pursuant to the Plan (a) with respect to any
portion of an Award that is settled in cash or (b) to the extent such shares are withheld or reacquired by the Company in satisfaction
of tax withholding obligations pursuant to Section 10.2. If the exercise price of an Option is paid by tender to the Company, or
attestation to the ownership, of shares of Stock owned by the Participant, or by means of a Net Exercise, the number of shares
available for issuance under the Plan shall be reduced by the net number of shares issued upon the exercise of the Option.

 

4.3         
Adjustments for Changes in Capital Structure. Subject to any required action by the stockholders of the Company and
the requirements of Sections 409A and 424 of the Code to the extent applicable, in the event of any change in the Stock effected
without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization,
reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange
of shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution
to the stockholders of the Company in a form other than Stock (excepting regular, periodic cash dividends) that has a material
effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number and kind
of shares subject to the Plan and to any outstanding Awards, in the ISO Share Limit set forth in Section 5.3(a), and in the exercise
or purchase price per share under any outstanding Awards in order to prevent dilution or enlargement of Participants’ rights
under the Plan. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as
 “effected without receipt of consideration by the Company.” If a majority of the shares which are of the same class
as the shares that are subject to outstanding Awards are exchanged for, converted into, or otherwise become (whether or not pursuant
to an Ownership Change Event) shares of another corporation (the “New Shares”), the Board may unilaterally
amend the outstanding Awards to provide that such Awards are for New Shares. In the event of any such amendment, the number of
shares subject to, and the exercise or purchase price per share of, the outstanding Awards shall be adjusted in a fair and equitable
manner as determined by the Board, in its discretion. Any fractional share resulting from an adjustment pursuant to this Section
shall be rounded down to the nearest whole number, and the exercise or purchase price per share shall be rounded up to the nearest
whole cent. In no event may the exercise or purchase price, if any, under any Award be decreased to an amount less than the par
value, if any, of the stock subject to the Award. Such adjustments shall be determined by the Board, and its determination shall
be final, binding and conclusive.

 

     

     

    

 

4.4        
 Assumption or Substitution of Awards. The Board may, without affecting the number of shares of Stock available pursuant
to Section 4.1, authorize the issuance or assumption of benefits under this Plan in connection with any merger, consolidation,
acquisition of property or stock, or reorganization upon such terms and conditions as it may deem appropriate, subject to compliance
with Section 409A and any other applicable provisions of the Code.

 

5.            
Eligibility, Participation and Option Limitations.

 

5.1          
Persons Eligible for Awards. Awards may be granted only to Employees, Consultants and Directors.

 

5.2          
Participation in the Plan. Awards are granted solely at the discretion of the Board. Eligible persons may be granted
more than one Award. However, eligibility in accordance with this Section shall not entitle any person to be granted an Award,
or, having been granted an Award, to be granted an additional Award.

 

5.3          
Incentive Stock Option Limitations.

 

(a)          
Maximum Number of Shares Issuable Pursuant to Incentive Stock Options. Subject to Section 4.1 and adjustment
as provided in Sections 4.2 and 4.3, the maximum aggregate number of shares of Stock that may be issued under the Plan pursuant
to the exercise of Incentive Stock Options shall not exceed thirty-four million five hundred thousand (34,500,000) shares (the
 “ISO Share Limit”). The maximum aggregate number of shares of Stock that may be issued under the Plan
pursuant to all Awards other than Incentive Stock Options shall be the number of shares determined in accordance with Section 4.1,
subject to adjustment as provided in Sections 4.2 and 4.3.

 

(b)          
Persons Eligible. An Incentive Stock Option may be granted only to a person who, on the effective date of
grant, is an Employee. Any person who is not an Employee on the effective date of the grant of an Option to such person may be
granted only a Nonstatutory Stock Option.

 

(c)           Fair
Market Value Limitation. To the extent that options designated as Incentive Stock Options (granted under all stock
plans of the Company, including the Plan) become exercisable by a Participant for the first time during any calendar year for
stock having a Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the portions of such options which
exceed such amount shall be treated as Nonstatutory Stock Options. For purposes of this Section, options designated as
Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of
stock shall be determined as of the time the option with respect to such stock is granted. If the Code is amended to provide
for a limitation different from that set forth in this Section, such different limitation shall be deemed incorporated herein
effective as of the date and with respect to such Options as required or permitted by such amendment to the Code. If an
Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock Option in part by reason of the limitation
set forth in this Section, the Participant may designate which portion of such Option the Participant is exercising. In the
absence of such designation, the Participant shall be deemed to have exercised the Incentive Stock Option portion of the
Option first. Upon exercise of the Option, Shares issued pursuant to each such portion shall be separately identified.

 

     

     

    

 

6.            
Stock Options.

 

Options shall be evidenced
by Award Agreements specifying the number of shares of Stock covered thereby, in such form as the Board shall from time to time
establish. Such Award Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be
subject to the following terms and conditions:

 

6.1          
Exercise Price. The exercise price for each Option shall be established in the discretion of the Board; provided,
however, that (a) the exercise price per share for an Option shall be not less than the Fair Market Value of a share of Stock on
the effective date of grant of the Option and (b) no Incentive Stock Option granted to a Ten Percent Stockholder shall have an
exercise price per share less than one hundred ten percent (110%) of the Fair Market Value of a share of Stock on the effective
date of grant of the Option. Notwithstanding the foregoing, an Option (whether an Incentive Stock Option or a Nonstatutory Stock
Option) may be granted with an exercise price lower than the minimum exercise price set forth above if such Option is granted pursuant
to an assumption or substitution for another option in a manner qualifying under the provisions of Section 409A or Section 424(a)
of the Code, as applicable.

 

6.2          
Exercisability and Term of Options. Options shall be exercisable at such time or times, or upon such event or events,
and subject to such terms, conditions, performance criteria and restrictions as shall be determined by the Board and set forth
in the Award Agreement evidencing such Option; provided, however, that (a) no Option shall be exercisable after the expiration
of ten (10) years after the effective date of grant of such Option, (b) no Incentive Stock Option granted to a Ten Percent Stockholder
shall be exercisable after the expiration of five (5) years after the effective date of grant of such Option, and (c) no Option
granted to an Employee who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be
first exercisable until at least six (6) months following the date of grant of such Option (except in the event of such Employee’s
death, disability or retirement, upon a Change in Control, or as otherwise permitted by the Worker Economic Opportunity Act). Subject
to the foregoing, unless otherwise specified by the Board in the grant of an Option, each Option shall terminate ten (10) years
after the effective date of grant of the Option, unless earlier terminated in accordance with its provisions.

 

6.3          
Payment of Exercise Price.

 

(a)           
Forms of Consideration Authorized. Except as otherwise provided below, payment of the exercise price for the
number of shares of Stock being purchased pursuant to any Option shall be made (i) in cash, by check or in cash equivalent, (ii)
if permitted by the Company and subject to the limitations contained in Section 6.3(b), by means of (1) a Stock Tender Exercise,
(2) a Cashless Exercise or (3) a Net Exercise; (iii) by such other consideration as may be approved by the Board from time to time
to the extent permitted by applicable law, or (iv) by any combination thereof. The Board may at any time or from time to time grant
Options which do not permit all of the foregoing forms of consideration to be used in payment of the exercise price or which otherwise
restrict one or more forms of consideration.

 

     

     

    

 

(b)         
 Limitations on Forms of Consideration.

 

(i)        
Stock Tender Exercise. A “Stock Tender Exercise” means the delivery of a properly executed
exercise notice accompanied by a Participant’s tender to the Company, or attestation to the ownership, in a form acceptable
to the Company of whole shares of Stock having a Fair Market Value that does not exceed the aggregate exercise price for the shares
with respect to which the Option is exercised. A Stock Tender Exercise shall not be permitted if it would constitute a violation
of the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. If required by the
Company, the Option may not be exercised by tender to the Company, or attestation to the ownership, of shares of Stock unless such
shares either have been owned by the Participant for a period of time required by the Company (and not used for another option
exercise by attestation during such period) or were not acquired, directly or indirectly, from the Company.

 

(ii)       
Cashless Exercise. A Cashless Exercise shall be permitted only upon the class of shares subject to the Option becoming
publicly traded in an established securities market. A “Cashless Exercise” means the delivery of a properly
executed exercise notice together with irrevocable instructions to a broker providing for the assignment to the Company of the
proceeds of a sale or loan with respect to some or all of the shares being acquired upon the exercise of the Option (including,
without limitation, through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board
of Governors of the Federal Reserve System). The Company reserves, at any and all times, the right, in the Company’s sole
and absolute discretion, to establish, decline to approve or terminate any program or procedures for the exercise of Options by
means of a Cashless Exercise, including with respect to one or more Participants specified by the Company notwithstanding that
such program or procedures may be available to other Participants.

 

(iii)       
Net Exercise. A “Net Exercise” means the delivery of a properly executed exercise notice
followed by a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to a Participant
upon the exercise of an Option by the largest whole number of shares having a Fair Market Value that does not exceed the aggregate
exercise price for the shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in
cash the remaining balance of such aggregate exercise price not satisfied by such reduction in the number of whole shares to be
issued.

 

6.4          
Effect of Termination of Service.

 

(a)          
Option Exercisability. Subject to earlier termination of the Option as otherwise provided by this Plan and
unless a longer exercise period is provided by the Board, an Option shall terminate immediately upon the Participant’s termination
of Service to the extent that it is then unvested and shall be exercisable after the Participant’s termination of Service
to the extent it is then vested only during the applicable time period determined in accordance with this Section and thereafter
shall terminate:

 

(i)         Disability.
If the Participant’s Service terminates because of the Disability of the Participant, the Option, to the extent
unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may be
exercised by the Participant (or the Participant’s guardian or legal representative) at any time prior to the
expiration of twelve (12) months after the date on which the Participant’s Service terminated, but in any event no
later than the date of expiration of the Option’s term as set forth in the Award Agreement evidencing such Option (the
 “Option Expiration Date”).

 

     

     

    

 

(ii)       
Death. If the Participant’s Service terminates because of the death of the Participant, the Option, to the
extent unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised
by the Participant’s legal representative or other person who acquired the right to exercise the Option by reason of the
Participant’s death at any time prior to the expiration of twelve (12) months after the date on which the Participant’s
Service terminated, but in any event no later than the Option Expiration Date. The Participant’s Service shall be deemed
to have terminated on account of death if the Participant dies within three (3) months after the Participant’s termination
of Service.

 

(iii)       
Termination for Cause. Notwithstanding any other provision of the Plan to the contrary, if the Participant’s
Service is terminated for Cause, the Option shall terminate in its entirety and cease to be exercisable immediately upon such termination
of Service.

 

(iv)      
Other Termination of Service. If the Participant’s Service terminates for any reason, except Disability, death
or Cause, the Option, to the extent unexercised and exercisable for vested shares on the date on which the Participant’s
Service terminated, may be exercised by the Participant at any time prior to the expiration of three (3) months after the date
on which the Participant’s Service terminated, but in any event no later than the Option Expiration Date.

 

(b)          
Extension if Exercise Prevented by Law. Notwithstanding the foregoing other than termination of Service for
Cause, if the exercise of an Option within the applicable time periods set forth in Section 6.4(a) is prevented by the provisions
of Section 11 below, the Option shall remain exercisable until the later of (i) thirty (30) days after the date such exercise first
would no longer be prevented by such provisions or (ii) the end of the applicable time period under Section 6.4(a), but in any
event no later than the Option Expiration Date.

 

6.5         
Transferability of Options. During the lifetime of the Participant, an Option shall be exercisable only by the Participant
or the Participant’s guardian or legal representative. An Option shall not be subject in any manner to anticipation, alienation,
sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s
beneficiary, except transfer by will or by the laws of descent and distribution. Notwithstanding the foregoing, to the extent permitted
by the Board, in its discretion, and set forth in the Award Agreement evidencing such Option, an Option shall be assignable or
transferable subject to the applicable limitations, if any, described in Rule 701 under the Securities Act and the General Instructions
to Form S-8 Registration Statement under the Securities Act or, in the case of an Incentive Stock Option, only as permitted by
applicable regulations under Section 421 of the Code in a manner that does not disqualify such Option as an Incentive Stock Option.

 

     

     

    

 

7.            
 Restricted Stock Awards.

 

Restricted Stock Awards
shall be evidenced by Award Agreements specifying whether the Award is a Restricted Stock Bonus or a Restricted Stock Purchase
Right and the number of shares of Stock subject to the Award, in such form as the Board shall from time to time establish. Such
Award Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following
terms and conditions:

 

7.1         
Types of Restricted Stock Awards Authorized. Restricted Stock Awards may be granted in the form of either a Restricted
Stock Bonus or a Restricted Stock Purchase Right. Restricted Stock Awards may be granted upon such conditions as the Board shall
determine, including, without limitation, upon the attainment of one or more performance goals.

 

7.2          
Purchase Price. The purchase price for shares of Stock issuable under each Restricted Stock Purchase Right shall
be established by the Board in its discretion. No monetary payment (other than applicable tax withholding) shall be required as
a condition of receiving shares of Stock pursuant to a Restricted Stock Bonus, the consideration for which shall be services actually
rendered to the Company or for its benefit. Notwithstanding the foregoing, if required by applicable state corporate law, the Participant
shall furnish consideration in the form of cash or past services rendered to the Company or for its benefit having a value not
less than the par value of the shares of Stock subject to a Restricted Stock Award.

 

7.3          
Purchase Period. A Restricted Stock Purchase Right shall be exercisable within a period established by the Board,
which shall in no event exceed thirty (30) days from the effective date of the grant of the Restricted Stock Purchase Right.

 

7.4          
Payment of Purchase Price. Except as otherwise provided below, payment of the purchase price for the number of shares
of Stock being purchased pursuant to any Restricted Stock Purchase Right shall be made (a) in cash, by check or in cash equivalent,
(b) by such other consideration as may be approved by the Board from time to time to the extent permitted by applicable law, or
(c) by any combination thereof.

 

7.5           Vesting
and Restrictions on Transfer. Shares issued pursuant to any Restricted Stock Award may (but need not) be made subject to
Vesting Conditions based upon the satisfaction of such Service requirements, conditions, restrictions or performance
criteria, as shall be established by the Board and set forth in the Award Agreement evidencing such Award. During any period
in which shares acquired pursuant to a Restricted Stock Award remain subject to Vesting Conditions, such shares may not be
sold, exchanged, transferred, pledged, assigned or otherwise disposed of other than pursuant to an Ownership Change Event or
as provided in Section 7.8. The Board, in its discretion, may provide in any Award Agreement evidencing a Restricted Stock
Award that, if the satisfaction of Vesting Conditions with respect to any shares subject to such Restricted Stock Award would
otherwise occur on a day on which the sale of such shares would violate the provisions of the Trading Compliance Policy, then
satisfaction of the Vesting Conditions automatically shall be determined on the next trading day on which the sale of such
shares would not violate the Trading Compliance Policy. Upon request by the Company, each Participant shall execute any
agreement evidencing such transfer restrictions prior to the receipt of shares of Stock hereunder and shall promptly present
to the Company any and all certificates representing shares of Stock acquired hereunder for the placement on such
certificates of appropriate legends evidencing any such transfer restrictions.

 

     

     

    

 

7.6          
Voting Rights; Dividends and Distributions. Except as provided in this Section, Section 7.5 and any Award Agreement,
during any period in which shares acquired pursuant to a Restricted Stock Award remain subject to Vesting Conditions, the Participant
shall have all of the rights of a stockholder of the Company holding shares of Stock, including the right to vote such shares and
to receive all dividends and other distributions paid with respect to such shares; provided, however, that if so determined by
the Board and provided by the Award Agreement, such dividends and distributions shall be subject to the same Vesting Conditions
as the shares subject to the Restricted Stock Award with respect to which such dividends or distributions were paid, and otherwise
shall be paid no later than the end of the calendar year in which such dividends or distributions are paid to stockholders (or,
if later, the 15th day of the third month following the date such dividends or distributions are paid to stockholders). In the
event of a dividend or distribution paid in shares of Stock or other property or any other adjustment made upon a change in the
capital structure of the Company as described in Section 4.3, any and all new, substituted or additional securities or other property
(other than regular, periodic cash dividends) to which the Participant is entitled by reason of the Participant’s Restricted
Stock Award shall be immediately subject to the same Vesting Conditions as the shares subject to the Restricted Stock Award with
respect to which such dividends or distributions were paid or adjustments were made.

 

7.7          
Effect of Termination of Service. Unless otherwise provided by the Board in the Award Agreement evidencing a Restricted
Stock Award, if a Participant’s Service terminates for any reason, whether voluntary or involuntary (including the Participant’s
death or disability), then (a) the Company shall have the option to repurchase for the purchase price paid by the Participant any
shares acquired by the Participant pursuant to a Restricted Stock Purchase Right which remain subject to Vesting Conditions as
of the date of the Participant’s termination of Service and (b) the Participant shall forfeit to the Company any shares acquired
by the Participant pursuant to a Restricted Stock Bonus which remain subject to Vesting Conditions as of the date of the Participant’s
termination of Service. The Company shall have the right to assign at any time any repurchase right it may have, whether or not
such right is then exercisable, to one or more persons as may be selected by the Company.

 

7.8          
Nontransferability of Restricted Stock Award Rights. Rights to acquire shares of Stock pursuant to a Restricted Stock
Award shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance
or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or the laws of descent
and distribution. All rights with respect to a Restricted Stock Award granted to a Participant hereunder shall be exercisable during
his or her lifetime only by such Participant or the Participant’s guardian or legal representative.

 

8.            
Standard Forms of Award Agreements.

 

8.1           Award
Agreements. Each Award shall comply with and be subject to the terms and conditions set forth in the appropriate form of
Award Agreement approved by the Board and as amended from time to time. No Award or purported Award shall be a valid and
binding obligation of the Company unless evidenced by a fully executed Award Agreement, which execution may be evidenced by
electronic means.

 

     

     

    

 

8.2         
Authority to Vary Terms. The Board shall have the authority from time to time to vary the terms of any standard form
of Award Agreement either in connection with the grant or amendment of an individual Award or in connection with the authorization
of a new standard form or forms; provided, however, that the terms and conditions of any such new, revised or amended standard
form or forms of Award Agreement are not inconsistent with the terms of the Plan.

 

9.            
Change in Control.

 

9.1          
Effect of Change in Control on Awards. Subject to the requirements and limitations of Section 409A of the Code, if
applicable, the Board may provide for any one or more of the following:

 

(a)           
Accelerated Vesting. In its discretion, the Board may provide in the grant of any Award or at any other time
may take such action as it deems appropriate to provide for acceleration of the exercisability and/or vesting in connection with
a Change in Control of each or any outstanding Award or portion thereof and shares acquired pursuant thereto upon such conditions,
including termination of the Participant’s Service prior to, upon, or following such Change in Control, and to such extent
as the Board shall determine.

 

(b)           Assumption,
Continuation or Substitution of Awards. In the event of a Change in Control, the surviving, continuing, successor, or
purchasing corporation or other business entity or parent thereof, as the case may be (the
 “Acquiror”), may, without the consent of any Participant, assume or continue the Company’s
rights and obligations under each or any Award or portion thereof outstanding immediately prior to the Change in Control or
substitute for each or any such outstanding Award or portion thereof a substantially equivalent award with respect to the
Acquiror’s stock. For purposes of this Section, if so determined by the Board, in its discretion, an Award or any
portion thereof shall be deemed assumed if, following the Change in Control, the Award confers the right to receive, subject
to the terms and conditions of the Plan and the applicable Award Agreement, for each share of Stock subject to such portion
of the Award immediately prior to the Change in Control, the consideration (whether stock, cash, other securities or property
or a combination thereof) to which a holder of a share of Stock on the effective date of the Change in Control was entitled
(and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the
outstanding shares of Stock); provided, however, that if such consideration is not solely common stock of the Acquiror, the
Board may, with the consent of the Acquiror, provide for the consideration to be received upon the exercise of the Award for
each share of Stock to consist solely of common stock of the Acquiror equal in Fair Market Value to the per share
consideration received by holders of Stock pursuant to the Change in Control. If any portion of such consideration may be
received by holders of Stock pursuant to the Change in Control on a contingent or delayed basis, the Board may, in its
discretion, determine such Fair Market Value per share as of the time of the Change in Control on the basis of the
Board’s good faith estimate of the present value of the probable future payment of such consideration. Any Award or
portion thereof which is neither assumed or continued by the Acquiror in connection with the Change in Control nor exercised
as of the time of consummation of the Change in Control shall terminate and cease to be outstanding effective as of the time
of consummation of the Change in Control. Notwithstanding the foregoing, shares acquired upon exercise of an Award prior to
the Change in Control and any consideration received pursuant to the Change in Control with respect to such shares shall
continue to be subject to all applicable provisions of the Award Agreement evidencing such Award except as otherwise provided
in such Award Agreement.

 

     

     

    

 

(c)          
Cash-Out of Outstanding Awards. The Board may, in its discretion and without the consent of any Participant,
determine that, upon the occurrence of a Change in Control, each or any Award or portion thereof outstanding immediately prior
to the Change in Control and not previously exercised or settled shall be canceled in exchange for a payment with respect to each
vested share (and each unvested share, if so determined by the Board) of Stock subject to such canceled Award in (i) cash, (ii)
stock of the Company or of a corporation or other business entity a party to the Change in Control, or (iii) other property which,
in any such case, shall be in an amount having a Fair Market Value equal to the Fair Market Value of the consideration to be paid
per share of Stock in the Change in Control, reduced (but not below zero) by the exercise or purchase price per share, if any,
under such Award. If any portion of such consideration may be received by holders of Stock pursuant to the Change in Control on
a contingent or delayed basis, the Board may, in its sole discretion, determine such Fair Market Value per share as of the time
of the Change in Control on the basis of the Board’s good faith estimate of the present value of the probable amount of future
payment of such consideration. In the event such determination is made by the Board, an Award having an exercise or purchase price
per share equal to or greater than the Fair Market Value of the consideration to be paid per share of Stock in the Change in Control
may be canceled without payment of consideration to the holder thereof. Payment pursuant to this Section (reduced by applicable
withholding taxes, if any) shall be made to Participants in respect of the vested portions of their canceled Awards as soon as
practicable following the date of the Change in Control and in respect of the unvested portions of their canceled Awards in accordance
with the vesting schedules applicable to such Awards.

 

9.2          
Federal Excise Tax Under Section 4999 of the Code.

 

(a)           
Excess Parachute Payment. If any acceleration of vesting pursuant to an Award and any other payment or benefit
received or to be received by a Participant would subject the Participant to any excise tax pursuant to Section 4999 of the Code
due to the characterization of such acceleration of vesting, payment or benefit as an “excess parachute payment” under
Section 280G of the Code, then, provided such election would not subject the Participant to taxation under Section 409A of the
Code, the Participant may elect, in his or her sole discretion, to reduce the amount of any acceleration of vesting called for
under the Award in order to avoid such characterization.

 

(b)           Determination
by Independent Accountants. To aid the Participant in making any election called for under Section 9.2(a), no later
than the date of the occurrence of any event that might reasonably be anticipated to result in an “excess parachute
payment” to the Participant as described in Section 9.2(a), the Company shall request a determination in writing by
independent public accountants selected by the Company (the “Accountants”). As soon as practicable
thereafter, the Accountants shall determine and report to the Company and the Participant the amount of such acceleration of
vesting, payments and benefits which would produce the greatest after-tax benefit to the Participant. For the purposes of
such determination, the Accountants may rely on reasonable, good faith interpretations concerning the application of Sections
280G and 4999 of the Code. The Company and the Participant shall furnish to the Accountants such information and documents as
the Accountants may reasonably request in order to make their required determination. The Company shall bear all fees and
expenses the Accountants charge in connection with their services contemplated by this Section.

 

     

     

    

 

10.          
Tax Withholding.

 

10.1       
Tax Withholding in General. The Company shall have the right to deduct from any and all payments made under the Plan,
or to require the Participant, through payroll withholding, cash payment or otherwise, to make adequate provision for, the federal,
state, local and foreign taxes (including any social insurance tax), if any, required by law to be withheld by the Company with
respect to an Award or the shares acquired pursuant thereto. The Company shall have no obligation to deliver shares of Stock or
to release shares of Stock from an escrow established pursuant to an Award Agreement until the Company’s tax withholding
obligations have been satisfied by the Participant.

 

10.2        
Withholding in or Directed Sale of Shares. The Company shall have the right, but not the obligation, to deduct from
the shares of Stock issuable to a Participant upon the exercise or vesting of an Award, or to accept from the Participant the tender
of, a number of whole shares of Stock having a Fair Market Value, as determined by the Company, equal to all or any part of the
tax withholding obligations of the Company. The Fair Market Value of any shares of Stock withheld or tendered to satisfy any such
tax withholding obligations shall not exceed the amount determined by the applicable minimum statutory withholding rates. The Company
may require a Participant to direct a broker, upon the vesting or exercise of an Award, to sell a portion of the shares subject
to the Award determined by the Company in its discretion to be sufficient to cover the tax withholding obligations of the Company
and to remit an amount equal to such tax withholding obligations to the Company in cash.

 

11.          
Compliance with Securities Law.

 

The grant of Awards and
the issuance of shares of Stock pursuant to any Award shall be subject to compliance with all applicable requirements of federal,
state and foreign law with respect to such securities and the requirements of any stock exchange or market system upon which the
Stock may then be listed. In addition, no Award may be exercised or shares issued pursuant to an Award unless (a) a registration
statement under the Securities Act shall at the time of such exercise or issuance be in effect with respect to the shares issuable
pursuant to the Award or (b) in the opinion of legal counsel to the Company, the shares issuable pursuant to the Award may be issued
in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act. The inability
of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal
counsel to be necessary to the lawful issuance and sale of any shares hereunder shall relieve the Company of any liability in respect
of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to
issuance of any Stock, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate,
to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as
may be requested by the Company.

 

     

     

    

 

12.          
 Amendment or Termination of Plan.

 

The Board may amend,
suspend or terminate the Plan at any time. However, without the approval of the Company’s stockholders, there shall be (a)
no increase in the maximum aggregate number of shares of Stock that may be issued under the Plan (except by operation of the provisions
of Sections 4.2 and 4.3), (b) no change in the class of persons eligible to receive Incentive Stock Options, and (c) no other amendment
of the Plan that would require approval of the Company’s stockholders under any applicable law, regulation or rule, including
the rules of any stock exchange or quotation system upon which the Stock may then be listed or quoted. No amendment, suspension
or termination of the Plan shall affect any then outstanding Award unless expressly provided by the Board. Except as provided by
the next sentence, no amendment, suspension or termination of the Plan may have a materially adverse effect on any then outstanding
Award without the consent of the Participant. Notwithstanding any other provision of the Plan or any Award Agreement to the contrary,
the Board may, in its sole and absolute discretion and without the consent of any Participant, amend the Plan or any Award Agreement,
to take effect retroactively or otherwise, as it deems necessary or advisable for the purpose of conforming the Plan or such Award
Agreement to any present or future law, regulation or rule applicable to the Plan, including, but not limited to, Section 409A
of the Code.

 

13.          
Miscellaneous Provisions.

 

13.1        
Repurchase Rights. Shares issued under the Plan may be subject to a right of first refusal, one or more repurchase
options, or other conditions and restrictions as determined by the Board in its discretion at the time the Award is granted. The
Company shall have the right to assign at any time any repurchase right it may have, whether or not such right is then exercisable,
to one or more persons as may be selected by the Company. Upon request by the Company, each Participant shall execute any agreement
evidencing such transfer restrictions prior to the receipt of shares of Stock hereunder and shall promptly present to the Company
any and all certificates representing shares of Stock acquired hereunder for the placement on such certificates of appropriate
legends evidencing any such transfer restrictions.

 

13.2        
Forfeiture Events. The Board may specify in an Award Agreement that the Participant’s rights, payments, and
benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture, or recoupment upon the occurrence of
specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include,
but shall not be limited to, termination of Service for Cause or any act by a Participant, whether before or after termination
of Service, that would constitute Cause for termination of Service.

 

13.3        
Provision of Information. At least annually, copies of the Company’s balance sheet and income statement for
the just completed fiscal year shall be made available to each Participant and purchaser of shares of Stock upon the exercise of
an Award; provided, however, that this requirement shall not apply if all offers and sales of securities pursuant to the Plan comply
with all applicable conditions of Rule 701 under the Securities Act. The Company shall not be required to provide such information
to key persons whose duties in connection with the Company assure them access to equivalent information. The Company shall deliver
to each Participant such disclosures as are required in accordance with Rule 701 under the Securities Act.

 

     

     

    

 

13.4       
 Rights as Employee, Consultant or Director. No person, even though eligible pursuant to Section 5, shall have a
right to be selected as a Participant, or, having been so selected, to be selected again as a Participant. Nothing in the Plan
or any Award granted under the Plan shall confer on any Participant a right to remain an Employee, Consultant or Director or interfere
with or limit in any way any right of the Company to terminate the Participant’s Service at any time. To the extent that
an Employee of the Company other than the Company receives an Award under the Plan, that Award shall in no event be understood
or interpreted to mean that the Company is the Employee’s employer or that the Employee has an employment relationship with
the Company.

 

13.5        
Rights as a Stockholder. A Participant shall have no rights as a stockholder with respect to any shares covered by
an Award until the date of the issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of
a duly authorized transfer agent of the Company). No adjustment shall be made for dividends, distributions or other rights for
which the record date is prior to the date such shares are issued, except as provided in Section 4.3 or another provision of the
Plan.

 

13.6        
Delivery of Title to Shares. Subject to any governing rules or regulations, the Company shall issue or cause to be
issued the shares of Stock acquired pursuant to an Award and shall deliver such shares to or for the benefit of the Participant
by means of one or more of the following: (a) by delivering to the Participant evidence of book entry shares of Stock credited
to the account of the Participant, (b) by depositing such shares of Stock for the benefit of the Participant with any broker with
which the Participant has an account relationship, or (c) by delivering such shares of Stock to the Participant in certificate
form.

 

13.7        
Fractional Shares. The Company shall not be required to issue fractional shares upon the exercise or settlement of
any Award.

 

13.8        
Retirement and Welfare Plans. Neither Awards made under this Plan nor shares of Stock or cash paid pursuant to such
Awards may be included as “compensation” for purposes of computing the benefits payable to any Participant under the
Company’s retirement plans (both qualified and non-qualified) or welfare benefit plans unless such other plan expressly provides
that such compensation shall be taken into account in computing a Participant’s benefits.

 

13.9        
Severability. If any one or more of the provisions (or any part thereof) of this Plan shall be held invalid, illegal
or unenforceable in any respect, such provision shall be modified so as to make it valid, legal and enforceable, and the validity,
legality and enforceability of the remaining provisions (or any part thereof) of the Plan shall not in any way be affected or impaired
thereby.

 

13.10      
No Constraint on Corporate Action. Nothing in this Plan shall be construed to: (a) limit, impair, or otherwise affect
the Company’s right or power to make adjustments, reclassifications, reorganizations, or changes of its capital or business
structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or assets; or
(b) limit the right or power of the Company to take any action which such entity deems to be necessary or appropriate.

 

     

     

    

 

13.11     
 Choice of Law. Except to the extent governed by applicable federal law, the validity, interpretation, construction
and performance of the Plan and each Award Agreement shall be governed by the laws of the State of Delaware, without regard to
its conflict of law rules.

 

13.12     
Stockholder Approval. The Plan or any increase in the maximum aggregate number of shares of Stock issuable thereunder
as provided in Section 4.1 (the “Authorized Shares”) shall be approved by a majority of the outstanding
securities of the Company entitled to vote by the later of (a) a period beginning twelve (12) months before and ending twelve (12)
months after the date of adoption thereof by the Board or (b) the first issuance of any security pursuant to the Plan. Awards granted
prior to security holder approval of the Plan or in excess of the Authorized Shares previously approved by the security holders
shall become exercisable no earlier than the date of security holder approval of the Plan or such increase in the Authorized Shares,
as the case may be, and such Awards shall be rescinded if such security holder approval is not received in the manner described
in the preceding sentence.Exhibit
10.2

 

 

OLEMA
PHARMACEUTICALS, INC.

NOTICE OF GRANT OF STOCK OPTION

 

The Participant has
been granted an option (the “Option”) to purchase certain shares of Common Stock of Olema Pharmaceuticals,
Inc., a Delaware corporation, pursuant to the Olema Pharmaceuticals, Inc. 2014 Stock Plan (the “Plan”),
as follows:

 

	Participant:	 	 

 

	Date of Grant:	 
	 	 
	Number
    of Option Shares: 	 	, subject
    to adjustment as provided by the Option Agreement.

 

	Exercise
    Price:	$	        	 
	 	 
	Initial Vesting
    Date:	 	 	 
	 	 
	Option Expiration
    Date:	The
    date ten years after the Date of Grant
	 	 
	Tax Status of Option: 	 	 	Stock Option

 

	Vested Shares:	Except
    as provided in the Stock Option Agreement, the number of Vested Shares (disregarding any resulting fractional share) as of
    any date is determined by multiplying the Number of Option Shares by the “Vested Ratio” determined
    as of such date as follows:
	 	 
	 	 	Vested
    Ratio
	 	 	 
	 	Prior to Initial Vesting
    Date	 
	 	 	 
	 	On Initial Vesting
    Date, provided the Participant’s Service has not terminated prior to such date	 
	 	 	 
	 	Plus	 
	 	 	 
	 	For each additional
    full month of the Participant’s continuous Service from Initial Vesting Date until the Vested Ratio equals 1/1, an additional	 

 

The
Exercise Price represents an amount the Company believes to be no less than the fair market value of a share of Stock as of the
Date of Grant, determined in good faith in compliance with the requirements of Section 409A of the Code. However, there
is no guarantee that the Internal Revenue Service will agree with the Company’s determination. A subsequent IRS determination
that the Exercise Price is less than such fair market value could result in adverse tax consequences to the Participant. By signing
below, the Participant agrees that the Company, its directors, officers and shareholders shall not be held liable for any tax,
penalty, interest or cost incurred by the Participant as a result of such determination by the IRS. The Participant is urged to
consult with his or her own tax advisor regarding the tax consequences of the Option, including the application of Section 409A.

 

By their signatures
below, the Company and the Participant agree that the Option is governed by this Grant Notice and by the provisions of the Plan
and the Stock Option Agreement, both of which are attached to and made a part of this document. The Participant acknowledges receipt
of copies of the Plan and the Stock Option Agreement, represents that the Participant has read and is familiar with their provisions,
and hereby accepts the Option subject to all of their terms and conditions.

 

	OLEMA
    PHARMACEUTICALS, INC.	 	PARTICIPANT
	 	 	 
	By:	                           	 	 
	Name:  	 	[Participant]
	Title:
    	 	 
	 	 	 
	Address:	 	Address:
	512 2nd Street,
    4th Floor	 	 
	San Francisco, CA 94107	 	 
	 	 	 

 

	ATTACHMENTS:	2014 Stock Plan, as amended to the Date of Grant, Stock
Option Agreement and Exercise Notice

 

     

     

    

 

THE SECURITIES WHICH
ARE THE SUBJECT OF THIS AGREEMENT HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR
DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR
AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

 

OLEMA
PHARMACEUTICALS, INC.

STOCK
OPTION AGREEMENT

 

Olema
Pharmaceuticals, Inc., a Delaware corporation has granted to the Participant named in the Notice of Grant of Stock
Option (the “ Grant Notice “ ) to which this Stock Option Agreement (the “ Option Agreement
“ ) is attached an option (the “ Option “) to purchase certain shares of Stock upon the
terms and conditions set forth in the Grant Notice and this Option Agreement. The Option has been granted pursuant to and shall
in all respects be subject to the terms and conditions of the Olema Pharmaceuticals, Inc. 2014 Stock Plan (the “Plan
“ ), as amended to the Date of Grant, the provisions of which are incorporated herein by reference. By signing the
Grant Notice, the Participant: (a) acknowledges receipt of, and represents that the Participant has read and is familiar with,
the Grant Notice, this Option Agreement and the Plan, (b) accepts the Option subject to all of the terms and conditions of the
Grant Notice, this Option Agreement and the Plan, and (c) agrees to accept as binding, conclusive and final all decisions or interpretations
of the Board upon any questions arising under the Grant Notice, this Option Agreement or the Plan.

 

1.                 
Definitions and Construction.

 

1.1             
Definitions. Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in
the Grant Notice or the Plan.

 

1.2             
Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation
of any provision of this Option Agreement. Except when otherwise indicated by the context, the singular shall include the plural
and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context
clearly requires otherwise.

 

2.                 
Tax Consequences.

 

2.1             
Tax Status of Option. This Option is intended to have the tax status designated in the Grant Notice.

 

(a)              
Incentive Stock Option. If the Grant Notice so designates, this Option is intended to be an Incentive Stock
Option within the meaning of Section 422(b) of the Code, but the Company does not represent or warrant that this Option qualifies
as such. The Participant should consult with the Participant’s own tax advisor regarding the tax effects of this Option and
the requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not limited to,
holding period requirements.

 

    1

     

    

 

(NOTE TO PARTICIPANT:
If the Option is exercised more than three (3) months after the date on which you cease to be an Employee (other than by reason
of your death or permanent and total disability as defined in Section 22(e)(3) of the Code), the Option will be treated as a Nonstatutory
Stock Option and not as an Incentive Stock Option to the extent required by Section 422 of the Code.)

 

(b)              
Nonstatutory Stock Option. If the Grant Notice so designates, this Option is intended to be a Nonstatutory
Stock Option and shall not be treated as an Incentive Stock Option within the meaning of Section 422(b) of the Code.

 

2.2             
ISO Fair Market Value Limitation. If the Grant Notice designates this Option as an Incentive Stock Option, then to
the extent that the Option (together with all Incentive Stock Options granted to the Participant under all stock option plans of
the Company, including the Plan) becomes exercisable for the first time during any calendar year for shares having a Fair Market
Value greater than One Hundred Thousand Dollars ($100,000), the portion of such options which exceeds such amount will be treated
as Nonstatutory Stock Options. For purposes of this Section, options designated as Incentive Stock Options are taken into account
in the order in which they were granted, and the Fair Market Value of stock is determined as of the time the option with respect
to such stock is granted. If the Code is amended to provide for a different limitation from that set forth in this Section, such
different limitation shall be deemed incorporated herein effective as of the date required or permitted by such amendment to the
Code. If the Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock Option in part by reason of the
limitation set forth in this Section, the Participant may designate which portion of such Option the Participant is exercising.
In the absence of such designation, the Participant shall be deemed to have exercised the Incentive Stock Option portion of the
Option first. Separate certificates representing each such portion shall be issued upon the exercise of the Option.

 

(NOTE TO PARTICIPANT:
If the aggregate Exercise Price of the Option (that is, the Exercise Price multiplied by the Number of Option Shares) plus the
aggregate exercise price of any other Incentive Stock Options you hold (whether granted pursuant to the Plan or any other stock
option plan of the Company) is greater than $100,000, you should contact the Chief Financial Officer of the Company to ascertain
whether the entire Option qualifies as an Incentive Stock Option.)

 

3.                 
Administration.

 

All questions of interpretation
concerning the Grant Notice, this Option Agreement, the Plan or any other form of agreement or other document employed by the Company
in the administration of the Plan or the Option shall be determined by the Board. All such determinations by the Board shall be
final, binding and conclusive upon all persons having an interest in the Option, unless fraudulent or made in bad faith. Any and
all actions, decisions and determinations taken or made by the Board in the exercise of its discretion pursuant to the Plan or
the Option or other agreement thereunder (other than determining questions of interpretation pursuant to the preceding sentence)
shall be final, binding and conclusive upon all persons having an interest in the Option. Any Officer shall have the authority
to act on behalf of the Company with respect to any matter, right, obligation, or election which is the responsibility of or which
is allocated to the Company herein, provided the Officer has apparent authority with respect to such matter, right, obligation,
or election.

 

    2

     

    

 

4.                 
Exercise of the Option.

 

4.1             
Right to Exercise. Except as otherwise provided herein, the Option shall be exercisable on and after the Initial
Vesting Date and prior to the termination of the Option (as provided in Section 6) in an amount not to exceed the number of Vested
Shares less the number of shares previously acquired upon exercise of the Option, subject to the Company’s repurchase rights
set forth in Section 11. In no event shall the Option be exercisable for more shares than the Number of Option Shares, as adjusted
pursuant to Section 9.

 

4.2             
Method of Exercise. Exercise of the Option shall be by means of electronic or written notice (the “Exercise
Notice “ ) in a form authorized by the Company. An electronic Exercise Notice must be digitally signed or authenticated
by the Participant in such manner as required by the notice and transmitted to the Company or an authorized representative of the
Company (including a third-party administrator designated by the Company). In the event that the Participant is not authorized
or is unable to provide an electronic Exercise Notice, the Option shall be exercised by a written Exercise Notice addressed to
the Company, which shall be signed by the Participant and delivered in person, by certified or registered mail, return receipt
requested, by confirmed facsimile transmission, or by such other means as the Company may permit, to the Company, or an authorized
representative of the Company (including a third-party administrator designated by the Company). Each Exercise Notice, whether
electronic or written, must state the Participant’s election to exercise the Option, the number of whole shares of Stock
for which the Option is being exercised and such other representations and agreements as to the Participant’s investment
intent with respect to such shares as may be required pursuant to the provisions of this Option Agreement. Further, each Exercise
Notice must be received by the Company prior to the termination of the Option as set forth in Section 6 and must be accompanied
by full payment of the aggregate Exercise Price for the number of shares of Stock being purchased. The Option shall be deemed to
be exercised upon receipt by the Company of such electronic or written Exercise Notice and the aggregate Exercise Price.

 

4.3             
Payment of Exercise Price.

 

(a)              
Forms of Consideration Authorized. Except as otherwise provided below, payment of the aggregate Exercise Price
for the number of shares of Stock for which the Option is being exercised shall be made (i) in cash, by check or in cash equivalent,
(ii) if permitted by the Company and subject to the limitations contained in Section 4.3(b), by means of (1) a Stock Tender Exercise,
(2) a Cashless Exercise or (3) a Net-Exercise; or (iii) by any combination of the foregoing.

 

(b)              
Limitations on Forms of Consideration. The Company reserves, at any and all times, the right, in the Company’s
sole and absolute discretion, to establish, decline to approve or terminate any program or procedure providing for payment of the
Exercise Price through any of the means described below, including with respect to the Participant notwithstanding that such program
or procedures may be available to others.

 

    3

     

    

 

(i)                
Stock Tender Exercise. A “Stock Tender Exercise “ means the delivery of a properly executed
Exercise Notice accompanied by (1) the Participant’s tender to the Company, or attestation to the ownership, in a form acceptable
to the Company of whole shares of Stock having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares
with respect to which the Option is exercised, and (2) the Participant’s payment to the Company in cash of the remaining
balance of such aggregate Exercise Price not satisfied by such shares’ Fair Market Value. A Stock Tender Exercise shall not
be permitted if it would constitute a violation of the provisions of any law, regulation or agreement restricting the redemption
of the Company’s stock. If required by the Company, the Option may not be exercised by tender to the Company, or attestation
to the ownership, of shares of Stock unless such shares either have been owned by the Participant for a period of time required
by the Company (and not used for another option exercise by attestation during such period) or were not acquired, directly or indirectly,
from the Company.

 

(ii)             
Cashless Exercise. A Cashless Exercise shall be permitted only upon the class of shares subject to the Option becoming
publicly traded in an established securities market. A “ Cashless Exercise “ means the delivery of a
properly executed Exercise Notice together with irrevocable instructions to a broker in a form acceptable to the Company providing
for the assignment to the Company of the proceeds of a sale or loan with respect to shares of Stock acquired upon the exercise
of the Option in an amount not less than the aggregate Exercise Price for such shares (including, without limitation, through an
exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal
Reserve System).

 

(iii)           
Net-Exercise. A “Net-Exercise “ means the delivery of a properly executed Exercise Notice
electing a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to the Participant upon
the exercise of the Option by the largest whole number of shares having a Fair Market Value that does not exceed the aggregate
Exercise Price for the shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in
cash the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the number of whole shares to be
issued. Following a Net-Exercise, the number of shares remaining subject to the Option, if any, shall be reduced by the sum of
(1) the net number of shares issued to the Participant upon such exercise, and (2) the number of shares deducted by the Company
for payment of the aggregate Exercise Price.

 

4.4             
Tax Withholding.

 

(a)              
In General. At the time the Option is exercised, in whole or in part, or at any time thereafter as requested
by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant, and
otherwise agrees to make adequate provision for any sums required to satisfy the federal, state, local and foreign tax (including
any social insurance) withholding obligations of the Company, if any, which arise in connection with the Option. The Company shall
have no obligation to deliver shares of Stock until the tax withholding obligations of the Company have been satisfied by the Participant.

 

    4

     

    

 

(b)              
Withholding in or Directed Sale of Shares. The Company shall have the right, but not the obligation, to require
the Participant to satisfy all or any portion of the Company’s tax withholding obligations upon exercise of the Option by
deducting from the shares of Stock otherwise issuable to the Participant upon such exercise a number of whole shares having a fair
market value, as determined by the Company as of the date of exercise, not in excess of the amount of such tax withholding obligations
determined by the applicable minimum statutory withholding rates. The Company may require the Participant to direct a broker, upon
the exercise of the Option, to sell a portion of the shares subject to the Option determined by the Company in its discretion to
be sufficient to cover the tax withholding obligations of the Company and to remit an amount equal to such tax withholding obligations
to the Company in cash.

 

4.5             
Beneficial Ownership of Shares; Certificate Registration. The Participant hereby authorizes the Company, in its sole
discretion, to deposit for the benefit of the Participant with any broker with which the Participant has an account relationship
of which the Company has notice any or all shares acquired by the Participant pursuant to the exercise of the Option. Except as
provided by the preceding sentence, a certificate for the shares as to which the Option is exercised shall be registered in the
name of the Participant, or, if applicable, in the names of the heirs of the Participant.

 

4.6             
Restrictions on Grant of the Option and Issuance of Shares. The grant of the Option and the issuance of shares of
Stock upon exercise of the Option shall be subject to compliance with all applicable requirements of federal, state or foreign
law with respect to such securities. The Option may not be exercised if the issuance of shares of Stock upon exercise would constitute
a violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any
stock exchange or market system upon which the Stock may then be listed. In addition, the Option may not be exercised unless (i)
a registration statement under the Securities Act shall at the time of exercise of the Option be in effect with respect to the
shares issuable upon exercise of the Option or (ii) in the opinion of legal counsel to the Company, the shares issuable upon exercise
of the Option may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities
Act. THE PARTICIPANT IS CAUTIONED THAT THE OPTION MAY NOT BE EXERCISED UNLESS THE FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY,
THE PARTICIPANT MAY NOT BE ABLE TO EXERCISE THE OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS VESTED. The inability of the Company
to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be
necessary to the lawful issuance and sale of any shares subject to the Option shall relieve the Company of any liability in respect
of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to
the exercise of the Option, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate,
to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as
may be requested by the Company.

 

4.7             
Fractional Shares. The Company shall not be required to issue fractional shares upon the exercise of the Option.

 

    5

     

    

 

5.                 
Nontransferability of the Option.

 

During the lifetime
of the Participant, the Option shall be exercisable only by the Participant or the Participant’s guardian or legal representative.
The Option shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance,
or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of
descent and distribution. Following the death of the Participant, the Option, to the extent provided in Section 7, may be exercised
by the Participant’s legal representative or by any person empowered to do so under the deceased Participant’s will
or under the then applicable laws of descent and distribution.

 

6.                 
Termination of the Option.

 

The Option shall terminate
and may no longer be exercised after the first to occur of (a) the close of business on the Option Expiration Date, (b) the close
of business on the last date for exercising the Option following termination of the Participant’s Service as described in
Section 7, or (c) a Change in Control to the extent provided in Section 8.

 

7.                 
Effect of Termination of Service.

 

7.1             
Option Exercisability. The Option shall terminate immediately upon the Participant’s termination of Service
to the extent that it is then unvested and shall be exercisable after the Participant’s termination of Service to the extent
it is then vested only during the applicable time period as determined below and thereafter shall terminate.

 

(a)              
Disability. If the Participant’s Service terminates because of the Disability of the Participant, the
Option, to the extent unexercised and exercisable for Vested Shares on the date on which the Participant’s Service terminated,
may be exercised by the Participant (or the Participant’s guardian or legal representative) at any time prior to the expiration
of twelve (12) months after the date on which the Participant’s Service terminated, but in any event no later than the Option
Expiration Date.

 

(b)              
Death. If the Participant’s Service terminates because of the death of the Participant, the Option,
to the extent unexercised and exercisable for Vested Shares on the date on which the Participant’s Service terminated, may
be exercised by the Participant’s legal representative or other person who acquired the right to exercise the Option by reason
of the Participant’s death at any time prior to the expiration of twelve (12) months after the date on which the Participant’s
Service terminated, but in any event no later than the Option Expiration Date. The Participant’s Service shall be deemed
to have terminated on account of death if the Participant dies within three (3) months after the Participant’s termination
of Service.

 

(c)              
Termination for Cause. Notwithstanding any other provision of this Option Agreement, if the Participant’s
Service is terminated for Cause, the Option shall terminate in its entirety and cease to be exercisable immediately upon such termination
of Service.

 

(d)              
Other Termination of Service. If the Participant’s Service terminates for any reason, except Disability,
death or Cause, the Option, to the extent unexercised and exercisable for Vested Shares by the Participant on the date on which
the Participant’s Service terminated, may be exercised by the Participant at any time prior to the expiration of three (3)
months after the date on which the Participant’s Service terminated, but in any event no later than the Option Expiration
Date.

 

    6

     

    

 

7.2             
Extension if Exercise Prevented by Law. Notwithstanding the foregoing other than termination of the Participant’s
Service for Cause, if the exercise of the Option within the applicable time periods set forth in Section 7.1 is prevented by the
provisions of Section 4.6, the Option shall remain exercisable until the later of (a) thirty (30) days after the date such exercise
first would no longer be prevented by such provisions or (b) the end of the applicable time period under Section 7.1, but in any
event no later than the Option Expiration Date.

 

8.                 
Effect of Change in Control.

 

In the event of a Change
in Control, except to the extent that the Board determines to settle the Option in accordance with Section 9.1(c) of the Plan,
the surviving, continuing, successor, or purchasing corporation or other business entity or parent thereof, as the case may be
(the “ Acquiror “), may, without the consent of the Participant, assume or continue in full force and
effect the Company’s rights and obligations under all or any portion of the Option or substitute for all or any portion of
the Option a substantially equivalent option for the Acquiror’s stock. For purposes of this Section, the Option or any portion
thereof shall be deemed assumed if, following the Change in Control, the Option confers the right to receive, subject to the terms
and conditions of the Plan and this Option Agreement, for each share of Stock subject to such portion of the Option immediately
prior to the Change in Control, the consideration (whether stock, cash, other securities or property or a combination thereof)
to which a holder of a share of Stock on the effective date of the Change in Control was entitled (and if holders were offered
a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Stock); provided,
however, that if such consideration is not solely common stock of the Acquiror, the Board may, with the consent of the Acquiror,
provide for the consideration to be received upon the exercise of the Option for each share of Stock to consist solely of common
stock of the Acquiror equal in Fair Market Value to the per share consideration received by holders of Stock pursuant to the Change
in Control. If any portion of such consideration may be received by holders of Stock pursuant to the Change in Control on a contingent
or delayed basis, the Board may, in its discretion, determine such Fair Market Value per share as of the time of the Change in
Control on the basis of the Board’s good faith estimate of the present value of the probable future payment of such consideration.
The Option shall terminate and cease to be outstanding effective as of the time of consummation of the Change in Control to the
extent that the Option is neither assumed or continued by the Acquiror in connection with the Change in Control nor exercised as
of the time of the Change in Control. Notwithstanding the foregoing, shares acquired upon exercise of the Option prior to the Change
in Control and any consideration received pursuant to the Change in Control with respect to such shares shall continue to be subject
to all applicable provisions of this Option Agreement except as otherwise provided herein.

 

    7

     

    

 

9.                 
Adjustments for Changes in Capital Structure.

 

Subject to any required
action by the stockholders of the Company and the requirements of Sections 409A and 424 of the Code to the extent applicable, in
the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation,
reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up,
split-off, spin-off, combination of shares, exchange of shares, or similar change in the capital structure of the Company, or in
the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal
cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments
shall be made in the number, Exercise Price and kind of shares subject to the Option, in order to prevent dilution or enlargement
of the Participant’s rights under the Option. For purposes of the foregoing, conversion of any convertible securities of
the Company shall not be treated as “effected without receipt of consideration by the Company.” Any fractional
share resulting from an adjustment pursuant to this Section shall be rounded down to the nearest whole number, and the Exercise
Price shall be rounded up to the nearest whole cent. In no event may the Exercise Price be decreased to an amount less than the
par value, if any, of the stock subject to the Option. Such adjustments shall be determined by the Board, and its determination
shall be final, binding and conclusive.

 

10.             
Rights as a Stockholder, Director, Employee or Consultant.

 

The Participant shall
have no rights as a stockholder with respect to any shares covered by the Option until the date of the issuance of the shares for
which the Option has been exercised (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company). No adjustment shall be made for dividends, distributions or other rights for which the record date
is prior to the date the shares are issued, except as provided in Section 9. If the Participant is an Employee, the Participant
understands and acknowledges that, except as otherwise provided in a separate, written employment agreement between the Company
and the Participant, the Participant’s employment is “at will” and is for no specified term. Nothing
in this Option Agreement shall confer upon the Participant any right to continue in the Service of the Company or interfere in
any way with any right of the Company to terminate the Participant’s Service as a Director, an Employee or Consultant, as
the case may be, at any time.

 

11.             
Right of First Refusal.

 

11.1         
Grant of Right of First Refusal. Except as provided in Section 11.7 and Section 16 below, in the event the Participant,
the Participant’s legal representative, or other holder of shares acquired upon exercise of the Option proposes to sell,
exchange, transfer, pledge, or otherwise dispose of any Vested Shares (the “ Transfer Shares “) to any
person or entity, including, without limitation, any stockholder of the Company, the Company shall have the right to repurchase
the Transfer Shares under the terms and subject to the conditions set forth in this Section 11 (the “Right of First
Refusal “ ).

 

11.2         
Notice of Proposed Transfer. Prior to any proposed transfer of the Transfer Shares, the Participant shall deliver
written notice (the “ Transfer Notice “ ) to the Company describing fully the proposed transfer, including
the number of Transfer Shares, the name and address of the proposed transferee (the “Proposed Transferee “
) and, if the transfer is voluntary, the proposed transfer price, and containing such information necessary to show the bona fide
nature of the proposed transfer. In the event of a bona fide gift or involuntary transfer, the proposed transfer price shall be
deemed to be the Fair Market Value of the Transfer Shares, as determined by the Board in good faith. If the Participant proposes
to transfer any Transfer Shares to more than one Proposed Transferee, the Participant shall provide a separate Transfer Notice
for the proposed transfer to each Proposed Transferee. The Transfer Notice shall be signed by both the Participant and the Proposed
Transferee and must constitute a binding commitment of the Participant and the Proposed Transferee for the transfer of the Transfer
Shares to the Proposed Transferee subject only to the Right of First Refusal.

 

    8

     

    

 

11.3         
Bona Fide Transfer. If the Company determines that the information provided by the Participant in the Transfer Notice
is insufficient to establish the bona fide nature of a proposed voluntary transfer, the Company shall give the Participant written
notice of the Participant’s failure to comply with the procedure described in this Section 11, and the Participant shall
have no right to transfer the Transfer Shares without first complying with the procedure described in this Section 11. The Participant
shall not be permitted to transfer the Transfer Shares if the proposed transfer is not bona fide.

 

11.4         
Exercise of Right of First Refusal. If the Company determines the proposed transfer to be bona fide, the Company
shall have the right to purchase all, but not less than all, of the Transfer Shares (except as the Company and the Participant
otherwise agree) at the purchase price and on the terms set forth in the Transfer Notice by delivery to the Participant of a notice
of exercise of the Right of First Refusal within thirty (30) days after the date the Transfer Notice is delivered to the Company.
The Company’s exercise or failure to exercise the Right of First Refusal with respect to any proposed transfer described
in a Transfer Notice shall not affect the Company’s right to exercise the Right of First Refusal with respect to any proposed
transfer described in any other Transfer Notice, whether or not such other Transfer Notice is issued by the Participant or issued
by a person other than the Participant with respect to a proposed transfer to the same Proposed Transferee. If the Company exercises
the Right of First Refusal, the Company and the Participant shall thereupon consummate the sale of the Transfer Shares to the Company
on the terms set forth in the Transfer Notice within sixty (60) days after the date the Transfer Notice is delivered to the Company
(unless a longer period is offered by the Proposed Transferee); provided, however, that in the event the Transfer Notice provides
for the payment for the Transfer Shares other than in cash, the Company shall have the option of paying for the Transfer Shares
by the present value cash equivalent of the consideration described in the Transfer Notice as reasonably determined by the Company.
For purposes of the foregoing, cancellation of any indebtedness of the Participant to the Company shall be treated as payment to
the Participant in cash to the extent of the unpaid principal and any accrued interest canceled. Notwithstanding anything contained
in this Section to the contrary, the period during which the Company may exercise the Right of First Refusal and consummate the
purchase of the Transfer Shares from the Participant shall terminate no sooner than the completion of a period of eight (8) months
following the date on which the Participant acquired the Transfer Shares upon exercise of the Option.

 

11.5         
Failure to Exercise Right of First Refusal. If the Company fails to exercise the Right of First Refusal in full (or
to such lesser extent as the Company and the Participant otherwise agree) within the period specified in Section 11.4 above, the
Participant may conclude a transfer to the Proposed Transferee of the Transfer Shares on the terms and conditions described in
the Transfer Notice, provided such transfer occurs not later than ninety (90) days following delivery to the Company of the Transfer
Notice or, if applicable, following the end of the period described in the last sentence of Section 11.4. The Company shall have
the right to demand further assurances from the Participant and the Proposed Transferee (in a form satisfactory to the Company)
that the transfer of the Transfer Shares was actually carried out on the terms and conditions described in the Transfer Notice.
No Transfer Shares shall be transferred on the books of the Company until the Company has received such assurances, if so demanded,
and has approved the proposed transfer as bona fide. Any proposed transfer on terms and conditions different from those described
in the Transfer Notice, as well as any subsequent proposed transfer by the Participant, shall again be subject to the Right of
First Refusal and shall require compliance by the Participant with the procedure described in this Section 11.

 

    9

     

    

 

11.6         
Transferees of Transfer Shares. All transferees of the Transfer Shares or any interest therein, other than the Company,
shall be required as a condition of such transfer to agree in writing (in a form satisfactory to the Company) that such transferee
shall receive and hold such Transfer Shares or interest therein subject to all of the terms and conditions of this Option Agreement,
including this Section 11 providing for the Right of First Refusal with respect to any subsequent transfer. Any sale or transfer
of any shares acquired upon exercise of the Option shall be void unless the provisions of this Section 11 are met.

 

11.7         
Transfers Not Subject to Right of First Refusal. The Right of First Refusal shall not apply to any transfer or exchange
of the shares acquired upon exercise of the Option if such transfer or exchange is in connection with an Ownership Change Event.
If the consideration received pursuant to such transfer or exchange consists of stock of the Company, such consideration shall
remain subject to the Right of First Refusal unless the provisions of Section 11.9 result in a termination of the Right of First
Refusal.

 

11.8         
Assignment of Right of First Refusal. The Company shall have the right to assign the Right of First Refusal at any
time, whether or not there has been an attempted transfer, to one or more persons as may be selected by the Company.

 

11.9         
Early Termination of Right of First Refusal. The other provisions of this Option Agreement notwithstanding, the Right
of First Refusal shall terminate and be of no further force and effect upon (a) the occurrence of a Change in Control, unless the
Acquiror assumes the Company’s rights and obligations under the Option or substitutes a substantially equivalent option for
the Acquiror’s stock for the Option, or (b) the existence of a public market for the class of shares subject to the Right
of First Refusal. A “public market “ shall be deemed to exist if (i) such stock is listed on a national
securities exchange (as that term is used in the Exchange Act) or (ii) such stock is traded on the over-the-counter market and
prices therefor are published daily on business days in a recognized financial journal.

 

12.             
Stock Distributions Subject to Option Agreement.

 

If, from time to time,
there is any stock dividend, stock split or other change, as described in Section 9, in the character or amount of any of the outstanding
stock of the corporation the stock of which is subject to the provisions of this Option Agreement, then in such event any and all
new, substituted or additional securities to which the Participant is entitled by reason of the Participant’s ownership of
the shares acquired upon exercise of the Option shall be immediately subject to the Right of First Refusal with the same force
and effect as the shares subject to the Right of First Refusal immediately before such event.

 

    10

     

    

 

13.             
Notice of Sales Upon Disqualifying Disposition.

 

The Participant shall
dispose of the shares acquired pursuant to the Option only in accordance with the provisions of this Option Agreement. In addition,
if the Grant Notice designates this Option as an Incentive Stock Option, the Participant shall (a) promptly notify the Chief Financial
Officer of the Company if the Participant disposes of any of the shares acquired pursuant to the Option within one (1) year after
the date the Participant exercises all or part of the Option or within two (2) years after the Date of Grant and (b) provide the
Company with a description of the circumstances of such disposition. Until such time as the Participant disposes of such shares
in a manner consistent with the provisions of this Option Agreement, unless otherwise expressly authorized by the Company, the
Participant shall hold all shares acquired pursuant to the Option in the Participant’s name (and not in the name of any nominee)
for the one-year period immediately after the exercise of the Option and the two-year period immediately after Date of Grant. At
any time during the one-year or two-year periods set forth above, the Company may place a legend on any certificate representing
shares acquired pursuant to the Option requesting the transfer agent for the Company’s stock to notify the Company of any
such transfers. The obligation of the Participant to notify the Company of any such transfer shall continue notwithstanding that
a legend has been placed on the certificate pursuant to the preceding sentence.

 

14.             
Legends.

 

The Company may at
any time place legends referencing the Right of First Refusal and any applicable federal, state or foreign securities law restrictions
on all certificates representing shares of stock subject to the provisions of this Option Agreement. The Participant shall, at
the request of the Company, promptly present to the Company any and all certificates representing shares acquired pursuant to the
Option in the possession of the Participant in order to carry out the provisions of this Section. Unless otherwise specified by
the Company, legends placed on such certificates may include, but shall not be limited to, the following:

 

14.1         
“THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING
SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 OR RULE 701 UNDER THE ACT, OR THE COMPANY RECEIVES AN OPINION OF
COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE
REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.”

 

14.2         
“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND REPURCHASE OPTIONS
IN FAVOR OF THE CORPORATION OR ITS ASSIGNEE SET FORTH IN AN AGREEMENT BETWEEN THE CORPORATION AND THE REGISTERED HOLDER, OR SUCH
HOLDER’ ‘ S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS CORPORATION.”

 

    11

     

    

 

14.3         
“THE SHARES EVIDENCED BY THIS CERTIFICATE WERE ISSUED BY THE CORPORATION TO THE REGISTERED HOLDER UPON EXERCISE OF
AN INCENTIVE STOCK OPTION AS DEFINED IN SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (“ISO”).
IN ORDER TO OBTAIN THE PREFERENTIAL TAX TREATMENT AFFORDED TO ISOs, THE SHARES SHOULD NOT BE TRANSFERRED PRIOR TO [INSERT
DISQUALIFYING DISPOSITION DATE HERE]. SHOULD THE REGISTERED HOLDER ELECT TO TRANSFER ANY OF THE SHARES PRIOR TO THIS
DATE AND FOREGO ISO TAX TREATMENT, THE TRANSFER AGENT FOR THE SHARES SHALL NOTIFY THE CORPORATION IMMEDIATELY. THE REGISTERED HOLDER
SHALL HOLD ALL SHARES PURCHASED UNDER THE INCENTIVE STOCK OPTION IN THE REGISTERED HOLDER’S NAME (AND NOT IN THE NAME OF
ANY NOMINEE) PRIOR TO THIS DATE OR UNTIL TRANSFERRED AS DESCRIBED ABOVE.”

 

15.             
Lock-Up Agreement.

 

The Participant hereby
agrees that in the event of any underwritten public offering of stock, including an initial public offering of stock, made by the
Company pursuant to an effective registration statement filed under the Securities Act, the Participant shall not offer, sell,
contract to sell, pledge, hypothecate, grant any option to purchase or make any short sale of, or otherwise dispose of any shares
of stock of the Company or any rights to acquire stock of the Company for such period of time from and after the effective date
of such registration statement as may be established by the underwriter for such public offering; provided, however, that such
period of time shall not exceed one hundred eighty (180) days from the effective date of the registration statement to be filed
in connection with such public offering; provided, further, however, that such one hundred eighty (180) day period may be extended
for an additional period, not to exceed twenty (20) days, upon the request of the Company or the underwriter 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). The foregoing limitation shall not apply to shares registered in the public offering under the Securities Act. The Participant
hereby agrees to enter into any agreement reasonably required by the underwriters to implement the foregoing within a reasonable
timeframe if so requested by the Company.

 

16.             
Restrictions on Transfer of Shares.

 

No shares acquired
upon exercise of the Option may be sold, exchanged, transferred (including, without limitation, any transfer to a nominee or agent
of the Participant), assigned, pledged, hypothecated or otherwise disposed of, including by operation of law in any manner which
violates any of the provisions of this Option Agreement, and any such attempted disposition shall be void. The Company shall not
be required (a) to transfer on its books any shares which will have been transferred in violation of any of the provisions set
forth in this Option Agreement or (b) to treat as owner of such shares or to accord the right to vote as such owner or to pay dividends
to any transferee to whom such shares will have been so transferred.

 

    12

     

    

 

17.             
Miscellaneous Provisions.

 

17.1         
Termination or Amendment. The Board may terminate or amend the Plan or the Option at any time; provided, however,
that except as provided in Section 8 in connection with a Change in Control, no such termination or amendment may adversely affect
the Option or any unexercised portion hereof without the consent of the Participant unless such termination or amendment is necessary
to comply with any applicable law or government regulation, including, but not limited to Section 409A of the Code. No amendment
or addition to this Option Agreement shall be effective unless in writing.

 

17.2         
Compliance with Section 409A. The Company intends that income realized by the Participant pursuant to the Plan and
this Option Agreement will not be subject to taxation under Section 409A of the Code. The provisions of the Plan and this Option
Agreement shall be interpreted and construed in favor of satisfying any applicable requirements of Section 409A of the Code. The
Company, in its reasonable discretion, may amend (including retroactively) the Plan and this Agreement in order to conform to the
applicable requirements of Section 409A of the Code, including amendments to facilitate the Participant’s ability to avoid
taxation under Section 409A of the Code. However, the preceding provisions shall not be construed as a guarantee by the Company
of any particular tax result for income realized by the Participant pursuant to the Plan or this Option Agreement. In any event,
and except for the responsibilities of the Company set forth in Section 4.4, the Company shall not be responsible for the payment
of any applicable taxes incurred by the Participant on income realized by the Participant pursuant to the Plan or this Option Agreement.

 

17.3         
Further Instruments. The parties hereto agree to execute such further instruments and to take such further action
as may reasonably be necessary to carry out the intent of this Option Agreement.

 

17.4         
Binding Effect. This Option Agreement shall inure to the benefit of the successors and assigns of the Company and,
subject to the restrictions on transfer set forth herein, be binding upon the Participant and the Participant’s heirs, executors,
administrators, successors and assigns.

 

17.5         
Delivery of Documents and Notices. Any document relating to participation in the Plan, or any notice required or
permitted hereunder shall be given in writing and shall be deemed effectively given (except to the extent that this Option Agreement
provides for effectiveness only upon actual receipt of such notice) upon personal delivery, electronic delivery at the e-mail address,
if any, provided for the Participant by the Company, or upon deposit in the U.S. Post Office or foreign postal service, by registered
or certified mail, or with a nationally recognized overnight courier service, with postage and fees prepaid, addressed to the other
party at the address of such party set forth in the Grant Notice or at such other address as such party may designate in writing
from time to time to the other party.

 

    13

     

    

 

(a)              
Description of Electronic Delivery. The Plan documents, which may include but do not necessarily include: the Plan,
the Grant Notice, this Option Agreement, and any reports of the Company provided generally to the Company’s stockholders,
may be delivered to the Participant electronically. In addition, if permitted by the Company, the Participant may deliver electronically
the Grant Notice and Exercise Notice called for by Section 4.2 to the Company or to such third party involved in administering
the Plan as the Company may designate from time to time. Such means of electronic delivery may include but do not necessarily include
the delivery of a link to a Company intranet or the Internet site of a third party involved in administering the Plan, the delivery
of the document via e-mail or such other means of electronic delivery specified by the Company.

 

(b)              
Consent to Electronic Delivery. The Participant acknowledges that the Participant has read Section 17.5(a) of this
Option Agreement and consents to the electronic delivery of the Plan documents and, if permitted by the Company, the delivery of
the Grant Notice and Exercise Notice, as described in Section 17.5(a). The Participant acknowledges that he or she may receive
from the Company a paper copy of any documents delivered electronically at no cost to the Participant by contacting the Company
by telephone or in writing. The Participant further acknowledges that the Participant will be provided with a paper copy of any
documents if the attempted electronic delivery of such documents fails. Similarly, the Participant understands that the Participant
must provide the Company or any designated third party administrator with a paper copy of any documents if the attempted electronic
delivery of such documents fails. The Participant may revoke his or her consent to the electronic delivery of documents described
in Section 17.5(a) or may change the electronic mail address to which such documents are to be delivered (if Participant has provided
an electronic mail address) at any time by notifying the Company of such revoked consent or revised e-mail address by telephone,
postal service or electronic mail. Finally, the Participant understands that he or she is not required to consent to electronic
delivery of documents described in Section 17.5(a).

 

17.6         
Integrated Agreement. The Grant Notice, this Option Agreement and the Plan, together with any employment, service
or other agreement with the Participant and the Company referring to the Option, shall constitute the entire understanding and
agreement of the Participant and the Company with respect to the subject matter contained herein or therein and supersede any prior
agreements, understandings, restrictions, representations, or warranties among the Participant and the Company with respect to
such subject matter. To the extent contemplated herein or therein, the provisions of the Grant Notice, the Option Agreement and
the Plan shall survive any exercise of the Option and shall remain in full force and effect.

 

17.7         
Applicable Law. This Option Agreement shall be governed by the laws of the State of Delaware as such laws are applied
to agreements between Delaware residents entered into and to be performed entirely within the State of Delaware.

 

17.8         
Counterparts. The Grant Notice may be executed in counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.

  

    14

     

    

 

	 ̈	Incentive Stock Option	Participant:
	 ̈	Nonstatutory Stock Option	Date:

 

STOCK OPTION EXERCISE
NOTICE

 

Olema Pharmaceuticals,
Inc

Attention: Chief Financial
Officer

512 2nd Street, 4th Floor

San Francisco, CA 94107

 

Ladies and Gentlemen:

 

		1.	Option. I was granted an option (the “Option”) to purchase
shares of the common stock (the “Shares”) of Olema Pharmaceuticals, Inc., a Delaware corporation (the
 “Company”) pursuant to the Company’s 2014 Stock Plan (the “Plan”), my
Notice of Grant of Stock Option (the “Grant Notice”) and my Stock Option Agreement (the “Option
Agreement”) as follows:

 

Date of Grant:

 

Number of Option
Shares:

 

	 	Exercise Price per Share:	$

 

		2.	Exercise of Option. I hereby elect to exercise the Option to purchase the following
number of Shares, all of which are Vested Shares, in accordance with the Grant Notice and the Option Agreement:

 

Total Shares
Purchased:

 

	 	Total Exercise Price (Total Shares X Price per Share)	$

 

		3.	Payments. I enclose payment in full of the total exercise price for the Shares in
the following form(s), as authorized by my Option Agreement:

 

		 ̈	Cash:	    $

 

		 ̈	Check:

 

		 ̈	Stock Tender Exercise:	Contact Plan Administrator

 

		 ̈	Cashless Exercise:	Contact Plan Administrator

 

		 ̈	Net Exercise:	Contact Plan Administrator

 

    15

     

    

 

		4.	Tax Withholding. I authorize payroll withholding and otherwise will make adequate
provision for the federal, state, local and foreign tax withholding obligations of the Company, if any, in connection with the
Option. If I am exercising a Nonstatutory Stock Option, I enclose payment in full of my withholding taxes, if any, as follows:

 

(Contact Plan Administrator
for amount of tax due.)

 

		 ̈	Cash:	$

 

		 ̈	Check:	$

 

		5.	Participant Information.

 

My address is:

 

My Social Security
Number is:

 

		6.	Notice of Disqualifying Disposition. If the Option is an Incentive Stock Option,
I agree that I will promptly notify the Chief Financial Officer of the Company if I transfer any of the Shares within one (1) year
from the date I exercise all or part of the Option or within two (2) years of the Date of Grant.

 

		7.	Binding Effect. I agree that the Shares are being acquired in accordance with and
subject to the terms, provisions and conditions of the Grant Notice, the Option Agreement, including the Right of First Refusal
set forth therein, and the Plan, to all of which I hereby expressly assent. This Agreement shall inure to the benefit of and be
binding upon my heirs, executors, administrators, successors and assigns.

 

		8.	Transfer. I understand and acknowledge that the Shares have not been registered under
the Securities Act of 1933, as amended (the “Securities Act “), and that consequently the Shares must
be held indefinitely unless they are subsequently registered under the Securities Act, an exemption from such registration is available,
or they are sold in accordance with Rule 144 or Rule 701 under the Securities Act. I further understand and acknowledge that the
Company is under no obligation to register the Shares. I understand that the certificate or certificates evidencing the Shares
will be imprinted with legends which prohibit the transfer of the Shares unless they are registered or such registration is not
required in the opinion of legal counsel satisfactory to the Company.

 

I am aware that Rule
144 under the Securities Act, which permits limited public resale of securities acquired in a nonpublic offering, is not currently
available with respect to the Shares and, in any event, is available only if certain conditions are satisfied. I understand that
any sale of the Shares that might be made in reliance upon Rule 144 may only be made in limited amounts in accordance with the
terms and conditions of such rule and that a copy of Rule 144 will be delivered to me upon request.

 

    16

     

    

 

I understand that I
am purchasing the Shares pursuant to the terms of the Plan, the Grant Notice and my Option Agreement, copies of which I have received
and carefully read and understand.

 

	 	Very truly yours,
	 	 
	 	(Signature)

  

Receipt of the above
is hereby acknowledged.

 

OLEMA PHARMACEUTICALS,
INC

 

	By:	 	 
	 	 	 
	 	Name:    	 	 
	 	Title:	 	 

 

    17

     

    

 

OLEMA
PHARMACEUTICALS, INC.

NOTICE OF GRANT OF STOCK OPTION

(EARLY EXERCISE PERMITTED)

 

The Participant has been
granted an option (the “Option”) to purchase certain shares of Common Stock of Olema Pharmaceuticals,
Inc., a Delaware corporation, pursuant to the Olema Pharmaceuticals, Inc. 2014 Stock Plan (the “Plan”),
as follows:

 

	Participant:  	 	 

 

	Date
of Grant:	 	 
	 	 	 
	Number of Option
Shares:	 	, subject to adjustment
as provided by the Option Agreement.
	 	 	 
	Exercise Price:	$	 
	 	 	 
	Initial Vesting Date:	 	 
	 	 	 
	Option Expiration
Date:	The
date ten (10) years after the Date of Grant
	 	 
	Tax Status of Option:	Nonstatutory
stock option
	 	 
	Early Exercise:	This
option may be “early exercised” pursuant to the terms of the attached Stock Option Agreement and the Company’s
form of Early Exercise Stock Purchase Agreement.
	 	 
	Vested Shares:	Except
as provided in the Stock Option Agreement, the number of Vested Shares (disregarding any resulting fractional share) as of any
date is determined by multiplying the Number of Option Shares by the Vested Ratio determined as of such date as follows:
	 	 
	 	Vested
Ratio
	 	 
	 	Prior
to Initial Vesting Date	 
	 	 
	 	On
Initial Vesting Date, provided the Participant’s Service has not terminated prior to such date	 
	 	 
	 	Plus
	 	 

 

	 	For
    each additional full month of the Participant’s continuous Service from Initial Vesting Date until the Vested Ratio
    equals 1/1, an additional	 
	 	 
	 	 

  

The
Exercise Price represents an amount the Company believes to be no less than the fair market value of a share of Stock as of the
Date of Grant, determined in good faith in compliance with the requirements of Section 409A of the Code. However, there is no
guarantee that the Internal Revenue Service will agree with the Company’s determination. A subsequent IRS determination
that the Exercise Price is less than such fair market value could result in adverse tax consequences to the Participant. By signing
below, the Participant agrees that the Company, its directors, officers and shareholders shall not be held liable for any tax,
penalty, interest or cost incurred by the Participant as a result of such determination by the IRS. The Participant is urged to
consult with his or her own tax advisor regarding the tax consequences of the Option, including the application of Section 409A.

 

By their signatures below,
the Company and the Participant agree that the Option is governed by this Grant Notice and by the provisions of the Plan and the
Stock Option Agreement, both of which are attached to and made a part of this document. The Participant acknowledges receipt of
copies of the Plan and the Stock Option Agreement, represents that the Participant has read and is familiar with their provisions,
and hereby accepts the Option subject to all of their terms and conditions.

 

	OLEMA
    PHARMACEUTICALS, INC.	 	PARTICIPANT
	 	 	 
	By:	                                    	 	 
	 	 	Signature
	 	 	 
	Its:	 	 	 
	 	 	Date
	 	 	 
	 	 	 
	Address	 	Address
	 	 	 
	 	 	 

 

ATTACHMENTS:2014
Stock Plan, as amended to the Date of Grant, Stock Option Agreement and Exercise Notice

 

    2

     

    

 

THE SECURITIES WHICH
ARE THE SUBJECT OF THIS AGREEMENT HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR
DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR
AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

 

OLEMA
PHARMACEUTICALS, INC.

STOCK
OPTION AGREEMENT

 

Olema
Pharmaceuticals, Inc., a Delaware corporation has granted to the Participant named in the Notice of Grant of Stock
Option (the “Grant Notice”) to which this Stock Option Agreement (the “Option Agreement”)
is attached an option (the “Option”) to purchase certain shares of Stock upon the terms and conditions
set forth in the Grant Notice and this Option Agreement. The Option has been granted pursuant to and shall in all respects be subject
to the terms and conditions of the Olema Pharmaceuticals, Inc. 2014 Stock Plan (the “Plan”), as amended
to the Date of Grant, the provisions of which are incorporated herein by reference. By signing the Grant Notice, the Participant:
(a) acknowledges receipt of, and represents that the Participant has read and is familiar with, the Grant Notice, this Option Agreement
and the Plan, (b) accepts the Option subject to all of the terms and conditions of the Grant Notice, this Option Agreement and
the Plan, and (c) agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions
arising under the Grant Notice, this Option Agreement or the Plan.

 

1.                 
Definitions and Construction.

 

1.1             
Definitions. Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in
the Grant Notice or the Plan.

 

1.2             
Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation
of any provision of this Option Agreement. Except when otherwise indicated by the context, the singular shall include the plural
and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context
clearly requires otherwise.

 

2.                 
Tax Consequences.

 

2.1             
Tax Status of Option. This Option is intended to have the tax status designated in the Grant Notice.

 

(a)              
Incentive Stock Option. If the Grant Notice so designates, this Option is intended to be an Incentive Stock
Option within the meaning of Section 422(b) of the Code, but the Company does not represent or warrant that this Option qualifies
as such. The Participant should consult with the Participant’s own tax advisor regarding the tax effects of this Option and
the requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not limited to,
holding period requirements.

 

    3

     

    

 

(NOTE TO PARTICIPANT:
If the Option is exercised more than three (3) months after the date on which you cease to be an Employee (other than by reason
of your death or permanent and total disability as defined in Section 22(e)(3) of the Code), the Option will be treated as a Nonstatutory
Stock Option and not as an Incentive Stock Option to the extent required by Section 422 of the Code.)

 

(b)              
Nonstatutory Stock Option. If the Grant Notice so designates, this Option is intended to be a Nonstatutory
Stock Option and shall not be treated as an Incentive Stock Option within the meaning of Section 422(b) of the Code.

 

2.2             
ISO Fair Market Value Limitation. If the Grant Notice designates this Option as an Incentive Stock Option, then to
the extent that the Option (together with all Incentive Stock Options granted to the Participant under all stock option plans of
the Company, including the Plan) becomes exercisable for the first time during any calendar year for shares having a Fair Market
Value greater than One Hundred Thousand Dollars ($100,000), the portion of such options which exceeds such amount will be treated
as Nonstatutory Stock Options. For purposes of this Section, options designated as Incentive Stock Options are taken into account
in the order in which they were granted, and the Fair Market Value of stock is determined as of the time the option with respect
to such stock is granted. If the Code is amended to provide for a different limitation from that set forth in this Section, such
different limitation shall be deemed incorporated herein effective as of the date required or permitted by such amendment to the
Code. If the Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock Option in part by reason of the
limitation set forth in this Section, the Participant may designate which portion of such Option the Participant is exercising.
In the absence of such designation, the Participant shall be deemed to have exercised the Incentive Stock Option portion of the
Option first. Separate certificates representing each such portion shall be issued upon the exercise of the Option.

 

(NOTE TO PARTICIPANT:
If the aggregate Exercise Price of the Option (that is, the Exercise Price multiplied by the Number of Option Shares) plus the
aggregate exercise price of any other Incentive Stock Options you hold (whether granted pursuant to the Plan or any other stock
option plan of the Company) is greater than $100,000, you should contact the Chief Financial Officer of the Company to ascertain
whether the entire Option qualifies as an Incentive Stock Option.)

 

3.                 
Administration.

 

All questions of interpretation
concerning the Grant Notice, this Option Agreement, the Plan or any other form of agreement or other document employed by the Company
in the administration of the Plan or the Option shall be determined by the Board. All such determinations by the Board shall be
final, binding and conclusive upon all persons having an interest in the Option, unless fraudulent or made in bad faith. Any and
all actions, decisions and determinations taken or made by the Board in the exercise of its discretion pursuant to the Plan or
the Option or other agreement thereunder (other than determining questions of interpretation pursuant to the preceding sentence)
shall be final, binding and conclusive upon all persons having an interest in the Option. Any Officer shall have the authority
to act on behalf of the Company with respect to any matter, right, obligation, or election which is the responsibility of or which
is allocated to the Company herein, provided the Officer has apparent authority with respect to such matter, right, obligation,
or election.

 

     

     

    

 

4.                 
Exercise of the Option.

 

4.1             
Right to Exercise. Except as otherwise provided herein, the Option shall be exercisable prior to the termination
of the Option (as provided in Section 6), subject to the Company’s repurchase rights set forth in Section 11. In no event
shall the Option be exercisable for more shares than the Number of Option Shares, as adjusted pursuant to Section 9. The Option
may, during the period of the Participant’s Service and during the term of the Option, be exercised, including the unvested
portion of the Option; provided, however, that: (a) a partial exercise of the Option will be deemed to first cover vested Option
Shares and then the earliest vesting installment of unvested Option Shares; (b) any Option Shares so purchased from installments
that have not vested as of the date of exercise will be subject to the purchase option in favor of the Company as described in
the Company’s form of Early Exercise Stock Purchase Agreement; and (c) the Participant will enter into the Company’s
form of Early Exercise Stock Purchase Agreement with a vesting schedule that will result in the same vesting as if no early exercise
had occurred.

 

4.2             
Method of Exercise. Exercise of the Option shall be by means of electronic or written notice (the “Exercise
Notice”) in a form authorized by the Company. An electronic Exercise Notice must be digitally signed or authenticated
by the Participant in such manner as required by the notice and transmitted to the Company or an authorized representative of the
Company (including a third-party administrator designated by the Company). In the event that the Participant is not authorized
or is unable to provide an electronic Exercise Notice, the Option shall be exercised by a written Exercise Notice addressed to
the Company, which shall be signed by the Participant and delivered in person, by certified or registered mail, return receipt
requested, by confirmed facsimile transmission, or by such other means as the Company may permit, to the Company, or an authorized
representative of the Company (including a third-party administrator designated by the Company). Each Exercise Notice, whether
electronic or written, must state the Participant’s election to exercise the Option, the number of whole shares of Stock
for which the Option is being exercised and such other representations and agreements as to the Participant’s investment
intent with respect to such shares as may be required pursuant to the provisions of this Option Agreement. Further, each Exercise
Notice must be received by the Company prior to the termination of the Option as set forth in Section 6 and must be accompanied
by full payment of the aggregate Exercise Price for the number of shares of Stock being purchased. The Option shall be deemed to
be exercised upon receipt by the Company of such electronic or written Exercise Notice and the aggregate Exercise Price.

 

4.3             
Payment of Exercise Price.

 

(a)              
Forms of Consideration Authorized. Except as otherwise provided below, payment of the aggregate Exercise Price
for the number of shares of Stock for which the Option is being exercised shall be made (i) in cash, by check or in cash equivalent,
(ii) if permitted by the Company and subject to the limitations contained in Section 4.3(b), by means of (1) a Stock Tender Exercise,
(2) a Cashless Exercise or (3) a Net-Exercise; or (iii) by any combination of the foregoing.

 

     

     

    

 

(b)              
Limitations on Forms of Consideration. The Company reserves, at any and all times, the right, in the Company’s
sole and absolute discretion, to establish, decline to approve or terminate any program or procedure providing for payment of the
Exercise Price through any of the means described below, including with respect to the Participant notwithstanding that such program
or procedures may be available to others.

 

(i)                
Stock Tender Exercise. A “Stock Tender Exercise “ means the delivery of a properly executed
Exercise Notice accompanied by (1) the Participant’s tender to the Company, or attestation to the ownership, in a form acceptable
to the Company of whole shares of Stock having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares
with respect to which the Option is exercised, and (2) the Participant’s payment to the Company in cash of the remaining
balance of such aggregate Exercise Price not satisfied by such shares’ Fair Market Value. A Stock Tender Exercise shall not
be permitted if it would constitute a violation of the provisions of any law, regulation or agreement restricting the redemption
of the Company’s stock. If required by the Company, the Option may not be exercised by tender to the Company, or attestation
to the ownership, of shares of Stock unless such shares either have been owned by the Participant for a period of time required
by the Company (and not used for another option exercise by attestation during such period) or were not acquired, directly or indirectly,
from the Company.

 

(ii)             
Cashless Exercise. A Cashless Exercise shall be permitted only upon the class of shares subject to the Option becoming
publicly traded in an established securities market. A “ Cashless Exercise “ means the delivery of a
properly executed Exercise Notice together with irrevocable instructions to a broker in a form acceptable to the Company providing
for the assignment to the Company of the proceeds of a sale or loan with respect to shares of Stock acquired upon the exercise
of the Option in an amount not less than the aggregate Exercise Price for such shares (including, without limitation, through an
exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal
Reserve System).

 

(iii)           
Net-Exercise. A “Net-Exercise “ means the delivery of a properly executed Exercise Notice
electing a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to the Participant upon
the exercise of the Option by the largest whole number of shares having a Fair Market Value that does not exceed the aggregate
Exercise Price for the shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in
cash the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the number of whole shares to be
issued. Following a Net-Exercise, the number of shares remaining subject to the Option, if any, shall be reduced by the sum of
(1) the net number of shares issued to the Participant upon such exercise, and (2) the number of shares deducted by the Company
for payment of the aggregate Exercise Price.

 

4.4             
Tax Withholding.

 

(a)              
In General. At the time the Option is exercised, in whole or in part, or at any time thereafter as requested
by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant, and
otherwise agrees to make adequate provision for any sums required to satisfy the federal, state, local and foreign tax (including
any social insurance) withholding obligations of the Company, if any, which arise in connection with the Option. The Company shall
have no obligation to deliver shares of Stock until the tax withholding obligations of the Company have been satisfied by the Participant.

 

     

     

    

 

(b)              
Withholding in or Directed Sale of Shares. The Company shall have the right, but not the obligation, to require
the Participant to satisfy all or any portion of the Company’s tax withholding obligations upon exercise of the Option by
deducting from the shares of Stock otherwise issuable to the Participant upon such exercise a number of whole shares having a fair
market value, as determined by the Company as of the date of exercise, not in excess of the amount of such tax withholding obligations
determined by the applicable minimum statutory withholding rates. The Company may require the Participant to direct a broker, upon
the exercise of the Option, to sell a portion of the shares subject to the Option determined by the Company in its discretion to
be sufficient to cover the tax withholding obligations of the Company and to remit an amount equal to such tax withholding obligations
to the Company in cash.

 

4.5             
Beneficial Ownership of Shares; Certificate Registration. The Participant hereby authorizes the Company, in its sole
discretion, to deposit for the benefit of the Participant with any broker with which the Participant has an account relationship
of which the Company has notice any or all shares acquired by the Participant pursuant to the exercise of the Option. Except as
provided by the preceding sentence, a certificate for the shares as to which the Option is exercised shall be registered in the
name of the Participant, or, if applicable, in the names of the heirs of the Participant.

 

4.6             
Restrictions on Grant of the Option and Issuance of Shares. The grant of the Option and the issuance of shares of
Stock upon exercise of the Option shall be subject to compliance with all applicable requirements of federal, state or foreign
law with respect to such securities. The Option may not be exercised if the issuance of shares of Stock upon exercise would constitute
a violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any
stock exchange or market system upon which the Stock may then be listed. In addition, the Option may not be exercised unless (i)
a registration statement under the Securities Act shall at the time of exercise of the Option be in effect with respect to the
shares issuable upon exercise of the Option or (ii) in the opinion of legal counsel to the Company, the shares issuable upon exercise
of the Option may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities
Act. THE PARTICIPANT IS CAUTIONED THAT THE OPTION MAY NOT BE EXERCISED UNLESS THE FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY,
THE PARTICIPANT MAY NOT BE ABLE TO EXERCISE THE OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS VESTED. The inability of the Company
to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be
necessary to the lawful issuance and sale of any shares subject to the Option shall relieve the Company of any liability in respect
of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to
the exercise of the Option, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate,
to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as
may be requested by the Company.

 

     

     

    

 

4.7             
Fractional Shares. The Company shall not be required to issue fractional shares upon the exercise of the Option.

 

5.                 
Nontransferability of the Option.

 

During the lifetime
of the Participant, the Option shall be exercisable only by the Participant or the Participant’s guardian or legal representative.
The Option shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance,
or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of
descent and distribution. Following the death of the Participant, the Option, to the extent provided in Section 7, may be exercised
by the Participant’s legal representative or by any person empowered to do so under the deceased Participant’s will
or under the then applicable laws of descent and distribution.

 

6.                 
Termination of the Option.

 

The Option shall terminate
and may no longer be exercised after the first to occur of (a) the close of business on the Option Expiration Date, (b) the close
of business on the last date for exercising the Option following termination of the Participant’s Service as described in
Section 7, or (c) a Change in Control to the extent provided in Section 8.

 

7.                 
Effect of Termination of Service.

 

7.1             
Option Exercisability. The Option shall terminate immediately upon the Participant’s termination of Service
to the extent that it is then unvested and shall be exercisable after the Participant’s termination of Service to the extent
it is then vested only during the applicable time period as determined below and thereafter shall terminate.

 

(a)              
Disability. If the Participant’s Service terminates because of the Disability of the Participant, the
Option, to the extent unexercised and exercisable for Vested Shares on the date on which the Participant’s Service terminated,
may be exercised by the Participant (or the Participant’s guardian or legal representative) at any time prior to the expiration
of twelve (12) months after the date on which the Participant’s Service terminated, but in any event no later than the Option
Expiration Date.

 

(b)              
Death. If the Participant’s Service terminates because of the death of the Participant, the Option,
to the extent unexercised and exercisable for Vested Shares on the date on which the Participant’s Service terminated, may
be exercised by the Participant’s legal representative or other person who acquired the right to exercise the Option by reason
of the Participant’s death at any time prior to the expiration of twelve (12) months after the date on which the Participant’s
Service terminated, but in any event no later than the Option Expiration Date. The Participant’s Service shall be deemed
to have terminated on account of death if the Participant dies within three (3) months after the Participant’s termination
of Service.

 

(c)              
Termination for Cause. Notwithstanding any other provision of this Option Agreement, if the Participant’s
Service is terminated for Cause, the Option shall terminate in its entirety and cease to be exercisable immediately upon such termination
of Service.

 

     

     

    

 

(d)              
Other Termination of Service. If the Participant’s Service terminates for any reason, except Disability,
death or Cause, the Option, to the extent unexercised and exercisable for Vested Shares by the Participant on the date on which
the Participant’s Service terminated, may be exercised by the Participant at any time prior to the expiration of three (3)
months after the date on which the Participant’s Service terminated, but in any event no later than the Option Expiration
Date.

 

7.2             
Extension if Exercise Prevented by Law. Notwithstanding the foregoing other than termination of the Participant’s
Service for Cause, if the exercise of the Option within the applicable time periods set forth in Section 7.1 is prevented by the
provisions of Section 4.6, the Option shall remain exercisable until the later of (a) thirty (30) days after the date such exercise
first would no longer be prevented by such provisions or (b) the end of the applicable time period under Section 7.1, but in any
event no later than the Option Expiration Date.

 

8.                 
Effect of Change in Control.

 

In the event of a Change
in Control, except to the extent that the Board determines to settle the Option in accordance with Section 9.1(c) of the Plan,
the surviving, continuing, successor, or purchasing corporation or other business entity or parent thereof, as the case may be
(the “ Acquiror “), may, without the consent of the Participant, assume or continue in full force and
effect the Company’s rights and obligations under all or any portion of the Option or substitute for all or any portion of
the Option a substantially equivalent option for the Acquiror’s stock. For purposes of this Section, the Option or any portion
thereof shall be deemed assumed if, following the Change in Control, the Option confers the right to receive, subject to the terms
and conditions of the Plan and this Option Agreement, for each share of Stock subject to such portion of the Option immediately
prior to the Change in Control, the consideration (whether stock, cash, other securities or property or a combination thereof)
to which a holder of a share of Stock on the effective date of the Change in Control was entitled (and if holders were offered
a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Stock); provided,
however, that if such consideration is not solely common stock of the Acquiror, the Board may, with the consent of the Acquiror,
provide for the consideration to be received upon the exercise of the Option for each share of Stock to consist solely of common
stock of the Acquiror equal in Fair Market Value to the per share consideration received by holders of Stock pursuant to the Change
in Control. If any portion of such consideration may be received by holders of Stock pursuant to the Change in Control on a contingent
or delayed basis, the Board may, in its discretion, determine such Fair Market Value per share as of the time of the Change in
Control on the basis of the Board’s good faith estimate of the present value of the probable future payment of such consideration.
The Option shall terminate and cease to be outstanding effective as of the time of consummation of the Change in Control to the
extent that the Option is neither assumed or continued by the Acquiror in connection with the Change in Control nor exercised as
of the time of the Change in Control. Notwithstanding the foregoing, shares acquired upon exercise of the Option prior to the Change
in Control and any consideration received pursuant to the Change in Control with respect to such shares shall continue to be subject
to all applicable provisions of this Option Agreement except as otherwise provided herein.

 

     

     

    

 

9.                 
Adjustments for Changes in Capital Structure.

 

Subject to any required
action by the stockholders of the Company and the requirements of Sections 409A and 424 of the Code to the extent applicable, in
the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation,
reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up,
split-off, spin-off, combination of shares, exchange of shares, or similar change in the capital structure of the Company, or in
the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal
cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments
shall be made in the number, Exercise Price and kind of shares subject to the Option, in order to prevent dilution or enlargement
of the Participant’s rights under the Option. For purposes of the foregoing, conversion of any convertible securities of
the Company shall not be treated as “effected without receipt of consideration by the Company.” Any fractional
share resulting from an adjustment pursuant to this Section shall be rounded down to the nearest whole number, and the Exercise
Price shall be rounded up to the nearest whole cent. In no event may the Exercise Price be decreased to an amount less than the
par value, if any, of the stock subject to the Option. Such adjustments shall be determined by the Board, and its determination
shall be final, binding and conclusive.

 

10.             
Rights as a Stockholder, Director, Employee or Consultant.

 

The Participant shall
have no rights as a stockholder with respect to any shares covered by the Option until the date of the issuance of the shares for
which the Option has been exercised (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company). No adjustment shall be made for dividends, distributions or other rights for which the record date
is prior to the date the shares are issued, except as provided in Section 9. If the Participant is an Employee, the Participant
understands and acknowledges that, except as otherwise provided in a separate, written employment agreement between the Company
and the Participant, the Participant’s employment is “at will” and is for no specified term. Nothing
in this Option Agreement shall confer upon the Participant any right to continue in the Service of the Company or interfere in
any way with any right of the Company to terminate the Participant’s Service as a Director, an Employee or Consultant, as
the case may be, at any time.

 

11.             
Right of First Refusal.

 

11.1         
Grant of Right of First Refusal. Except as provided in Section 11.7 and Section 16 below, in the event the Participant,
the Participant’s legal representative, or other holder of shares acquired upon exercise of the Option proposes to sell,
exchange, transfer, pledge, or otherwise dispose of any Vested Shares (the “ Transfer Shares “) to any
person or entity, including, without limitation, any stockholder of the Company, the Company shall have the right to repurchase
the Transfer Shares under the terms and subject to the conditions set forth in this Section 11 (the “Right of First
Refusal “ ).

 

     

     

    

 

11.2         
Notice of Proposed Transfer. Prior to any proposed transfer of the Transfer Shares, the Participant shall deliver
written notice (the “ Transfer Notice “ ) to the Company describing fully the proposed transfer, including
the number of Transfer Shares, the name and address of the proposed transferee (the “Proposed Transferee “
) and, if the transfer is voluntary, the proposed transfer price, and containing such information necessary to show the bona fide
nature of the proposed transfer. In the event of a bona fide gift or involuntary transfer, the proposed transfer price shall be
deemed to be the Fair Market Value of the Transfer Shares, as determined by the Board in good faith. If the Participant proposes
to transfer any Transfer Shares to more than one Proposed Transferee, the Participant shall provide a separate Transfer Notice
for the proposed transfer to each Proposed Transferee. The Transfer Notice shall be signed by both the Participant and the Proposed
Transferee and must constitute a binding commitment of the Participant and the Proposed Transferee for the transfer of the Transfer
Shares to the Proposed Transferee subject only to the Right of First Refusal.

 

11.3         
Bona Fide Transfer. If the Company determines that the information provided by the Participant in the Transfer Notice
is insufficient to establish the bona fide nature of a proposed voluntary transfer, the Company shall give the Participant written
notice of the Participant’s failure to comply with the procedure described in this Section 11, and the Participant shall
have no right to transfer the Transfer Shares without first complying with the procedure described in this Section 11. The Participant
shall not be permitted to transfer the Transfer Shares if the proposed transfer is not bona fide.

 

11.4         
Exercise of Right of First Refusal. If the Company determines the proposed transfer to be bona fide, the Company
shall have the right to purchase all, but not less than all, of the Transfer Shares (except as the Company and the Participant
otherwise agree) at the purchase price and on the terms set forth in the Transfer Notice by delivery to the Participant of a notice
of exercise of the Right of First Refusal within thirty (30) days after the date the Transfer Notice is delivered to the Company.
The Company’s exercise or failure to exercise the Right of First Refusal with respect to any proposed transfer described
in a Transfer Notice shall not affect the Company’s right to exercise the Right of First Refusal with respect to any proposed
transfer described in any other Transfer Notice, whether or not such other Transfer Notice is issued by the Participant or issued
by a person other than the Participant with respect to a proposed transfer to the same Proposed Transferee. If the Company exercises
the Right of First Refusal, the Company and the Participant shall thereupon consummate the sale of the Transfer Shares to the Company
on the terms set forth in the Transfer Notice within sixty (60) days after the date the Transfer Notice is delivered to the Company
(unless a longer period is offered by the Proposed Transferee); provided, however, that in the event the Transfer Notice provides
for the payment for the Transfer Shares other than in cash, the Company shall have the option of paying for the Transfer Shares
by the present value cash equivalent of the consideration described in the Transfer Notice as reasonably determined by the Company.
For purposes of the foregoing, cancellation of any indebtedness of the Participant to the Company shall be treated as payment to
the Participant in cash to the extent of the unpaid principal and any accrued interest canceled. Notwithstanding anything contained
in this Section to the contrary, the period during which the Company may exercise the Right of First Refusal and consummate the
purchase of the Transfer Shares from the Participant shall terminate no sooner than the completion of a period of eight (8) months
following the date on which the Participant acquired the Transfer Shares upon exercise of the Option.

 

     

     

    

 

11.5         
Failure to Exercise Right of First Refusal. If the Company fails to exercise the Right of First Refusal in full (or
to such lesser extent as the Company and the Participant otherwise agree) within the period specified in Section 11.4 above, the
Participant may conclude a transfer to the Proposed Transferee of the Transfer Shares on the terms and conditions described in
the Transfer Notice, provided such transfer occurs not later than ninety (90) days following delivery to the Company of the Transfer
Notice or, if applicable, following the end of the period described in the last sentence of Section 11.4. The Company shall have
the right to demand further assurances from the Participant and the Proposed Transferee (in a form satisfactory to the Company)
that the transfer of the Transfer Shares was actually carried out on the terms and conditions described in the Transfer Notice.
No Transfer Shares shall be transferred on the books of the Company until the Company has received such assurances, if so demanded,
and has approved the proposed transfer as bona fide. Any proposed transfer on terms and conditions different from those described
in the Transfer Notice, as well as any subsequent proposed transfer by the Participant, shall again be subject to the Right of
First Refusal and shall require compliance by the Participant with the procedure described in this Section 11.

 

11.6         
Transferees of Transfer Shares. All transferees of the Transfer Shares or any interest therein, other than the Company,
shall be required as a condition of such transfer to agree in writing (in a form satisfactory to the Company) that such transferee
shall receive and hold such Transfer Shares or interest therein subject to all of the terms and conditions of this Option Agreement,
including this Section 11 providing for the Right of First Refusal with respect to any subsequent transfer. Any sale or transfer
of any shares acquired upon exercise of the Option shall be void unless the provisions of this Section 11 are met.

 

11.7         
Transfers Not Subject to Right of First Refusal. The Right of First Refusal shall not apply to any transfer or exchange
of the shares acquired upon exercise of the Option if such transfer or exchange is in connection with an Ownership Change Event.
If the consideration received pursuant to such transfer or exchange consists of stock of the Company, such consideration shall
remain subject to the Right of First Refusal unless the provisions of Section 11.9 result in a termination of the Right of First
Refusal.

 

11.8         
Assignment of Right of First Refusal. The Company shall have the right to assign the Right of First Refusal at any
time, whether or not there has been an attempted transfer, to one or more persons as may be selected by the Company.

 

11.9         
Early Termination of Right of First Refusal. The other provisions of this Option Agreement notwithstanding, the Right
of First Refusal shall terminate and be of no further force and effect upon (a) the occurrence of a Change in Control, unless the
Acquiror assumes the Company’s rights and obligations under the Option or substitutes a substantially equivalent option for
the Acquiror’s stock for the Option, or (b) the existence of a public market for the class of shares subject to the Right
of First Refusal. A “public market “ shall be deemed to exist if (i) such stock is listed on a national
securities exchange (as that term is used in the Exchange Act) or (ii) such stock is traded on the over-the-counter market and
prices therefor are published daily on business days in a recognized financial journal.

 

12.             
Stock Distributions Subject to Option Agreement.

 

If, from time to time,
there is any stock dividend, stock split or other change, as described in Section 9, in the character or amount of any of the outstanding
stock of the corporation the stock of which is subject to the provisions of this Option Agreement, then in such event any and all
new, substituted or additional securities to which the Participant is entitled by reason of the Participant’s ownership of
the shares acquired upon exercise of the Option shall be immediately subject to the Right of First Refusal with the same force
and effect as the shares subject to the Right of First Refusal immediately before such event.

 

     

     

    

 

13.             
Notice of Sales Upon Disqualifying Disposition.

 

The Participant shall
dispose of the shares acquired pursuant to the Option only in accordance with the provisions of this Option Agreement. In addition,
if the Grant Notice designates this Option as an Incentive Stock Option, the Participant shall (a) promptly notify the Chief Financial
Officer of the Company if the Participant disposes of any of the shares acquired pursuant to the Option within one (1) year after
the date the Participant exercises all or part of the Option or within two (2) years after the Date of Grant and (b) provide the
Company with a description of the circumstances of such disposition. Until such time as the Participant disposes of such shares
in a manner consistent with the provisions of this Option Agreement, unless otherwise expressly authorized by the Company, the
Participant shall hold all shares acquired pursuant to the Option in the Participant’s name (and not in the name of any nominee)
for the one-year period immediately after the exercise of the Option and the two-year period immediately after Date of Grant. At
any time during the one-year or two-year periods set forth above, the Company may place a legend on any certificate representing
shares acquired pursuant to the Option requesting the transfer agent for the Company’s stock to notify the Company of any
such transfers. The obligation of the Participant to notify the Company of any such transfer shall continue notwithstanding that
a legend has been placed on the certificate pursuant to the preceding sentence.

 

14.             
Legends.

 

The Company may at
any time place legends referencing the Right of First Refusal and any applicable federal, state or foreign securities law restrictions
on all certificates representing shares of stock subject to the provisions of this Option Agreement. The Participant shall, at
the request of the Company, promptly present to the Company any and all certificates representing shares acquired pursuant to the
Option in the possession of the Participant in order to carry out the provisions of this Section. Unless otherwise specified by
the Company, legends placed on such certificates may include, but shall not be limited to, the following:

 

14.1         
“THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING
SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 OR RULE 701 UNDER THE ACT, OR THE COMPANY RECEIVES AN OPINION OF
COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE
REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.”

 

14.2         
“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND REPURCHASE OPTIONS
IN FAVOR OF THE CORPORATION OR ITS ASSIGNEE SET FORTH IN AN AGREEMENT BETWEEN THE CORPORATION AND THE REGISTERED HOLDER, OR SUCH
HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS CORPORATION.”

 

     

     

    

 

14.3         
“THE SHARES EVIDENCED BY THIS CERTIFICATE WERE ISSUED BY THE CORPORATION TO THE REGISTERED HOLDER UPON EXERCISE OF
AN INCENTIVE STOCK OPTION AS DEFINED IN SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (“ISO”).
IN ORDER TO OBTAIN THE PREFERENTIAL TAX TREATMENT AFFORDED TO ISOs, THE SHARES SHOULD NOT BE TRANSFERRED PRIOR TO [INSERT
DISQUALIFYING DISPOSITION DATE HERE]. SHOULD THE REGISTERED HOLDER ELECT TO TRANSFER ANY OF THE SHARES PRIOR TO THIS
DATE AND FOREGO ISO TAX TREATMENT, THE TRANSFER AGENT FOR THE SHARES SHALL NOTIFY THE CORPORATION IMMEDIATELY. THE REGISTERED HOLDER
SHALL HOLD ALL SHARES PURCHASED UNDER THE INCENTIVE STOCK OPTION IN THE REGISTERED HOLDER’S NAME (AND NOT IN THE NAME OF
ANY NOMINEE) PRIOR TO THIS DATE OR UNTIL TRANSFERRED AS DESCRIBED ABOVE.”

 

15.             
Lock-Up Agreement.

 

The Participant hereby
agrees that in the event of any underwritten public offering of stock, including an initial public offering of stock, made by the
Company pursuant to an effective registration statement filed under the Securities Act, the Participant shall not offer, sell,
contract to sell, pledge, hypothecate, grant any option to purchase or make any short sale of, or otherwise dispose of any shares
of stock of the Company or any rights to acquire stock of the Company for such period of time from and after the effective date
of such registration statement as may be established by the underwriter for such public offering; provided, however, that such
period of time shall not exceed one hundred eighty (180) days from the effective date of the registration statement to be filed
in connection with such public offering; provided, further, however, that such one hundred eighty (180) day period may be extended
for an additional period, not to exceed twenty (20) days, upon the request of the Company or the underwriter 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). The foregoing limitation shall not apply to shares registered in the public offering under the Securities Act. The Participant
hereby agrees to enter into any agreement reasonably required by the underwriters to implement the foregoing within a reasonable
timeframe if so requested by the Company.

 

16.             
Restrictions on Transfer of Shares.

 

No shares acquired
upon exercise of the Option may be sold, exchanged, transferred (including, without limitation, any transfer to a nominee or agent
of the Participant), assigned, pledged, hypothecated or otherwise disposed of, including by operation of law in any manner which
violates any of the provisions of this Option Agreement, and any such attempted disposition shall be void. The Company shall not
be required (a) to transfer on its books any shares which will have been transferred in violation of any of the provisions set
forth in this Option Agreement or (b) to treat as owner of such shares or to accord the right to vote as such owner or to pay dividends
to any transferee to whom such shares will have been so transferred.

 

     

     

    

 

17.             
Miscellaneous Provisions.

 

17.1         
Termination or Amendment. The Board may terminate or amend the Plan or the Option at any time; provided, however,
that except as provided in Section 8 in connection with a Change in Control, no such termination or amendment may adversely affect
the Option or any unexercised portion hereof without the consent of the Participant unless such termination or amendment is necessary
to comply with any applicable law or government regulation, including, but not limited to Section 409A of the Code. No amendment
or addition to this Option Agreement shall be effective unless in writing.

 

17.2         
Compliance with Section 409A. The Company intends that income realized by the Participant pursuant to the Plan and
this Option Agreement will not be subject to taxation under Section 409A of the Code. The provisions of the Plan and this Option
Agreement shall be interpreted and construed in favor of satisfying any applicable requirements of Section 409A of the Code. The
Company, in its reasonable discretion, may amend (including retroactively) the Plan and this Agreement in order to conform to the
applicable requirements of Section 409A of the Code, including amendments to facilitate the Participant’s ability to avoid
taxation under Section 409A of the Code. However, the preceding provisions shall not be construed as a guarantee by the Company
of any particular tax result for income realized by the Participant pursuant to the Plan or this Option Agreement. In any event,
and except for the responsibilities of the Company set forth in Section 4.4, no the Company shall not be responsible for the payment
of any applicable taxes incurred by the Participant on income realized by the Participant pursuant to the Plan or this Option Agreement.

 

17.3         
Further Instruments. The parties hereto agree to execute such further instruments and to take such further action
as may reasonably be necessary to carry out the intent of this Option Agreement.

 

17.4         
Binding Effect. This Option Agreement shall inure to the benefit of the successors and assigns of the Company and,
subject to the restrictions on transfer set forth herein, be binding upon the Participant and the Participant’s heirs, executors,
administrators, successors and assigns.

 

17.5         
Delivery of Documents and Notices. Any document relating to participation in the Plan, or any notice required or
permitted hereunder shall be given in writing and shall be deemed effectively given (except to the extent that this Option Agreement
provides for effectiveness only upon actual receipt of such notice) upon personal delivery, electronic delivery at the e-mail address,
if any, provided for the Participant by the Company, or upon deposit in the U.S. Post Office or foreign postal service, by registered
or certified mail, or with a nationally recognized overnight courier service, with postage and fees prepaid, addressed to the other
party at the address of such party set forth in the Grant Notice or at such other address as such party may designate in writing
from time to time to the other party.

 

     

     

    

 

(a)              
Description of Electronic Delivery. The Plan documents, which may include but do not necessarily include: the Plan,
the Grant Notice, this Option Agreement, and any reports of the Company provided generally to the Company’s stockholders,
may be delivered to the Participant electronically. In addition, if permitted by the Company, the Participant may deliver electronically
the Grant Notice and Exercise Notice called for by Section 4.2 to the Company or to such third party involved in administering
the Plan as the Company may designate from time to time. Such means of electronic delivery may include but do not necessarily include
the delivery of a link to a Company intranet or the Internet site of a third party involved in administering the Plan, the delivery
of the document via e-mail or such other means of electronic delivery specified by the Company.

 

(b)              
Consent to Electronic Delivery. The Participant acknowledges that the Participant has read Section 17.5(a) of this
Option Agreement and consents to the electronic delivery of the Plan documents and, if permitted by the Company, the delivery of
the Grant Notice and Exercise Notice, as described in Section 17.5(a). The Participant acknowledges that he or she may receive
from the Company a paper copy of any documents delivered electronically at no cost to the Participant by contacting the Company
by telephone or in writing. The Participant further acknowledges that the Participant will be provided with a paper copy of any
documents if the attempted electronic delivery of such documents fails. Similarly, the Participant understands that the Participant
must provide the Company or any designated third party administrator with a paper copy of any documents if the attempted electronic
delivery of such documents fails. The Participant may revoke his or her consent to the electronic delivery of documents described
in Section 17.5(a) or may change the electronic mail address to which such documents are to be delivered (if Participant has provided
an electronic mail address) at any time by notifying the Company of such revoked consent or revised e-mail address by telephone,
postal service or electronic mail. Finally, the Participant understands that he or she is not required to consent to electronic
delivery of documents described in Section 17.5(a).

 

17.6         
Integrated Agreement. The Grant Notice, this Option Agreement and the Plan, together with any employment, service
or other agreement with the Participant and the Company referring to the Option, shall constitute the entire understanding and
agreement of the Participant and the Company with respect to the subject matter contained herein or therein and supersede any prior
agreements, understandings, restrictions, representations, or warranties among the Participant and the Company with respect to
such subject matter. To the extent contemplated herein or therein, the provisions of the Grant Notice, the Option Agreement and
the Plan shall survive any exercise of the Option and shall remain in full force and effect.

 

17.7         
Applicable Law. This Option Agreement shall be governed by the laws of the State of Delaware as such laws are applied
to agreements between Delaware residents entered into and to be performed entirely within the State of Delaware.

 

17.8         
Counterparts. The Grant Notice may be executed in counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.

 

     

     

    

 

OLEMA PHARMACEUTICALS,
INC.

 

EARLY EXERCISE STOCK PURCHASE AGREEMENT

UNDER THE 2014 STOCK PLAN

 

This Agreement is made
by and between Olema Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and the individual
designated on the signature page hereto as a Purchaser (“Purchaser”).

 

Recitals

 

A.           Purchaser
holds a stock option, granted on _______________, to purchase _______________ shares of common stock (“Common Stock”)
of the Company (the “Option”) pursuant to the Company’s 2014 Stock Plan, as amended (the “Plan”).

 

B.           The
Option consists of a Stock Option Grant Notice and a Stock Option Agreement.

 

C.           Purchaser
desires to exercise the Option on the terms and conditions contained herein.

 

D.           Purchaser
wishes to take advantage of the early exercise provision of Purchaser’s Option and therefore to enter into this Agreement.

 

Agreement

 

The
parties agree as follows:

 

1.          
Incorporation of Plan and Option by Reference. This Agreement is
subject to all of the terms and conditions as set forth in the Plan and the Option. If there is a conflict between the terms of
this Agreement and/or the Option and the terms of the Plan, the terms of the Plan will control. If there is a conflict between
the terms of this Agreement and the terms of the Option, the terms of the Option will control. Defined terms not explicitly defined
in this Agreement but defined in the Plan will have the same definitions as in the Plan. Defined terms not explicitly defined in
this Agreement or the Plan but defined in the Option will have the same definitions as in the Option.

 

2.           
Purchase and Sale of Common Stock. 

 

(a)         
Agreement to purchase and sell Common Stock. Purchaser hereby agrees
to purchase from the Company, and the Company hereby agrees to sell to Purchaser, shares of the Common Stock of the Company in
accordance with the Notice of Exercise duly executed by Purchaser and attached hereto as Exhibit A.

 

(b)         
Closing. The closing hereunder, including payment for and delivery
of the Common Stock, will occur at the offices of the Company immediately following the execution of this Agreement, or at such
other time and place as the parties may mutually agree; provided, however, that if stockholder approval of the Plan is required
before the Option may be exercised, then the Option may not be exercised, and the closing will be delayed, until such stockholder
approval is obtained. If such stockholder approval is not obtained within the time limit specified in the Plan, then this Agreement
is null and void.

 

3.           
Unvested Share Repurchase Option.

 

(a)        
Repurchase Option. In the event Purchaser’s Service terminates, then the Company has an irrevocable option
(the “Repurchase Option”) for a period of six months after said termination (or in the case of shares
issued upon exercise of the Option after such date of termination, within six months after the date of the exercise), or such longer
period as may be agreed to by the Company and Purchaser (the “Repurchase Period”), to repurchase from
Purchaser or Purchaser’s personal representative, as the case may be, those shares that Purchaser received pursuant to the
exercise of the Option that have not as yet vested as of such termination date in accordance with the Vesting Schedule indicated
on Purchaser’s Stock Option Grant Notice (the “Unvested Shares”).

 

     

     

    

 

(b)        
Share Repurchase Price. The Company may repurchase all or any of
the Unvested Shares at the lower of (i) the Fair Market Value of the such shares (as determined under the Plan) on the date of
repurchase, or (ii) the price equal to Purchaser’s Exercise Price for such shares as indicated on Purchaser’s Stock
Option Grant Notice.

 

4.           
Exercise of Repurchase Option. The Repurchase Option will be exercised by written notice signed by such person
as designated by the Company, and delivered or mailed as provided herein. Such notice will identify the number of shares of Common
Stock to be purchased and will notify Purchaser of the time, place and date for settlement of such purchase, which will be scheduled
by the Company within the term of the Repurchase Option set forth above. In addition, the Company will be deemed to have exercised
the Repurchase Option as of the last day of the Repurchase Period, unless an officer of the Company notifies the holder of the
Unvested Shares during the Repurchase Period in writing (delivered or mailed as provided herein) that the Company expressly declines
to exercise its Repurchase Option for some or all of the Unvested Shares. The Company will be entitled to pay for any shares of
Common Stock purchased pursuant to its Repurchase Option at the Company’s option in cash or by offset against any indebtedness
owing to the Company by Purchaser (including without limitation any Promissory Note given in payment for the Common Stock), or
by a combination of both. Upon exercise of the Repurchase Option and payment of the purchase price in any of the ways described
above, the Company will become the legal and beneficial owner of the Common Stock being repurchased and all rights and interest
therein or related thereto, and the Company will have the right to transfer to its own name the Common Stock being repurchased
by the Company, without further action by Purchaser.

 

5.            Capitalization
Adjustments to Common Stock. In the event of a Capitalization Adjustment, then
any and all new, substituted or additional securities or other property to which Purchaser is entitled by reason of Purchaser’s
ownership of Common Stock will be immediately subject to the Repurchase Option and be included in the word “Common Stock”
for all purposes of the Repurchase Option with the same force and effect as the shares of the Common Stock presently subject to
the Repurchase Option, but only to the extent the Common Stock is, at the time, covered by such Repurchase Option. While the total
Option Price will remain the same after each such event, the Option Price per share of Common Stock upon exercise of the Repurchase
Option will be appropriately adjusted.

 

6.            Corporate
Transactions. In the event of a Corporate Transaction, then the Repurchase Option
may be assigned by the Company to the successor of the Company (or such successor’s parent company), if any, in connection
with such Corporate Transaction. To the extent the Repurchase Option remains in effect following such Corporate Transaction, it
will apply to the new capital stock or other property received in exchange for the Common Stock in consummation of the Corporate
Transaction, but only to the extent the Common Stock was at the time covered by such right. Appropriate adjustments will be made
to the price per share payable upon exercise of the Repurchase Option to reflect the Corporate Transaction upon the Company’s
capital structure; provided, however, that the aggregate price payable upon exercise of the Repurchase Option remains the
same.

 

7.           
Escrow of Unvested Common Stock. As security for Purchaser’s faithful performance of the terms of this
Agreement and to insure the availability for delivery of Purchaser’s Common Stock upon exercise of the Repurchase Option
herein provided for, Purchaser agrees, at the closing hereunder, to deliver to and deposit with the Secretary of the Company or
the Secretary’s designee (“Escrow Agent”), as Escrow Agent in this transaction, three stock assignments
duly endorsed (with date and number of shares blank) in the form attached hereto as Exhibit B, together with a certificate or certificates
evidencing all of the Common Stock subject to the Repurchase Option; said documents are to be held by the Escrow Agent and delivered
by said Escrow Agent pursuant to the Joint Escrow Instructions of the Company and Purchaser set forth in Exhibit C, attached hereto
and incorporated by this reference, which instructions also will be delivered to the Escrow Agent at the closing hereunder.

 

    2

     

    

 

8.          
Rights of Purchaser. Subject to the provisions of the Option, Purchaser will exercise all rights and privileges
of a stockholder of the Company with respect to the shares deposited in escrow. Purchaser will be deemed to be the holder of the
shares for purposes of receiving any dividends that may be paid with respect to such shares and for purposes of exercising any
voting rights relating to such shares, even if some or all of such shares have not yet vested and been released from the Company’s
Repurchase Option.

 

9.            Limitations
on Transfer. In addition to any other limitation on transfer created by applicable securities laws, Purchaser will not sell,
assign, hypothecate, donate, encumber or otherwise dispose of any interest in the Common Stock while the Common Stock is subject
to the Repurchase Option. After any Common Stock has been released from the Repurchase Option, Purchaser will not sell, assign,
hypothecate, donate, encumber or otherwise dispose of any interest in the Common Stock except in compliance with the provisions
herein and applicable securities laws. Furthermore, the Common Stock is subject to any right of first refusal in favor of the
Company or its assignees or other transfer restrictions that may be contained in the Option.

 

10.         Restrictive Legends. All certificates representing the Common Stock will have endorsed thereon legends in substantially
the following forms (in addition to any other legend that may be required by other agreements between the parties hereto):

 

(a)          “THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN OPTION SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED
HOLDER, OR SUCH HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS COMPANY. ANY
TRANSFER OR ATTEMPTED TRANSFER OF ANY SHARES SUBJECT TO SUCH OPTION IS VOID WITHOUT THE PRIOR EXPRESS WRITTEN CONSENT OF THE COMPANY.”

 

(b)          “THE
SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE
SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES,
THE SALE IS MADE IN ACCORDANCE WITH RULE 144 OR RULE 701 UNDER THE ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND
PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.”

 

(c)          “THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND REPURCHASE OPTIONS IN FAVOR OF THE
CORPORATION OR ITS ASSIGNEE SET FORTH IN AN AGREEMENT BETWEEN THE CORPORATION AND THE REGISTERED HOLDER, OR SUCH HOLDER’S
PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS CORPORATION.”

 

    3

     

    

 

(d)          Only
if the Option is an incentive stock option, “THE SHARES EVIDENCED BY THIS CERTIFICATE WERE ISSUED BY THE CORPORATION TO
THE REGISTERED HOLDER UPON EXERCISE OF AN INCENTIVE STOCK OPTION AS DEFINED IN SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED (“ISO”). IN ORDER TO OBTAIN THE PREFERENTIAL TAX TREATMENT AFFORDED TO ISOs, THE SHARES SHOULD NOT BE TRANSFERRED
PRIOR TO [INSERT DISQUALIFYING DISPOSITION DATE HERE]. SHOULD THE REGISTERED HOLDER ELECT TO TRANSFER ANY OF THE
SHARES PRIOR TO THIS DATE AND FOREGO ISO TAX TREATMENT, THE TRANSFER AGENT FOR THE SHARES SHALL NOTIFY THE CORPORATION IMMEDIATELY.
THE REGISTERED HOLDER SHALL HOLD ALL SHARES PURCHASED UNDER THE INCENTIVE STOCK OPTION IN THE REGISTERED HOLDER’S NAME (AND
NOT IN THE NAME OF ANY NOMINEE) PRIOR TO THIS DATE OR UNTIL TRANSFERRED AS DESCRIBED ABOVE.”

 

(e)          Any legend required by appropriate blue sky officials, the Bylaws of the Company, or any other agreement to which Purchaser
and the Company are parties.

 

11.          Investment
Representations. In connection with the purchase of the Common Stock, Purchaser
represents to the Company the following:

 

(a)          Purchaser
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 Common Stock. Purchaser is acquiring the Common Stock for investment
for Purchaser’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.

 

(b)          Purchaser
understands that the Common Stock has not been registered under the Securities Act by reason of a specific exemption therefrom,
which exemption depends upon, among other things, the bona fide nature of Purchaser’s investment intent as expressed herein.

 

(c)          Purchaser
further acknowledges and understands that the Common Stock must be held indefinitely unless the Common Stock is subsequently registered
under the Securities Act or an exemption from such registration is available. Purchaser further acknowledges and understands that
the Company is under no obligation to register the Common Stock. Purchaser understands that the certificate evidencing the Common
Stock will be imprinted with a legend that prohibits the transfer of the Common Stock unless the Common Stock is registered or
such registration is not required in the opinion of counsel for the Company.

 

(d)          Purchaser is familiar with the provisions of Rules 144 and 701, under the Securities Act, as in effect from time
to time, which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly,
from the issuer thereof (or from an affiliate of such issuer), 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 issuance of the securities, such issuance
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, the securities exempt under Rule 701 may be sold by Purchaser
90 days thereafter, subject to the satisfaction of certain of the conditions specified by Rule 144 and the market stand-off
provision described in Purchaser’s Stock Option Agreement.

 

(e)         
In the event that the sale of the Common Stock does not qualify under Rule 701 at the time of purchase, then the
Common Stock may be resold by Purchaser in certain limited circumstances subject to the provisions of Rule 144, which requires,
among other things: (i) the availability of certain public information about the Company, and (ii) the resale occurring following
the required holding period under Rule 144 after Purchaser has purchased, and made full payment of (within the meaning of Rule
144), the securities to be sold.

 

    4

     

    

 

(f)           Purchaser further understands that at the time Purchaser wishes to sell the Common Stock there may be no public market
upon which to make such a sale, and that, even if such a public market then exists, the Company may not be satisfying the current
public current information requirements of Rule 144 or 701, and that, in such event, Purchaser would be precluded from selling
the Common Stock under Rule 144 or 701 even if the minimum holding period requirement had been satisfied.

 

(g)          Purchaser further warrants and represents that Purchaser has either (i) preexisting personal or business relationships,
with the Company or any of its officers, directors or controlling persons, or (ii) the capacity to protect his own interests in
connection with the purchase of the Common Stock by virtue of the business or financial expertise of Purchaser or of professional
advisors to Purchaser who are unaffiliated with and who are not compensated by the Company or any of its affiliates, directly or
indirectly. Purchaser further warrants and represents that Purchaser’s purchase the Common Stock was not accomplished by
the publication of any advertisement.

 

12.         Section
83(b) Election. Purchaser understands that Section 83(a) of the Code taxes as
ordinary income the difference between the amount paid for the Common Stock and the fair market value of the Common Stock as of
the date any restrictions on the Common Stock lapse. In this context, “restriction” includes the right of the Company
to buy back the Common Stock pursuant to the Repurchase Option set forth above. Purchaser understands that Purchaser may elect
to be taxed at the time the Common Stock is purchased, rather than when and as the Repurchase Option expires, by filing an election
under Section 83(b) (an “83(b) Election”) of the Code with the Internal Revenue Service within 30 days
of the date of purchase, a copy of which is included as Exhibit D. Even if the fair market value of the Common Stock at the time
of the execution of this Agreement equals the amount paid for the Common Stock, the 83(b) Election must be made to avoid income
under Section 83(a) in the future. Purchaser understands that failure to file such an 83(b) Election in a timely manner may result
in adverse tax consequences for Purchaser. Purchaser further understands that Purchaser must file an additional copy of such 83(b)
Election with his or her federal income tax return for the calendar year in which the date of this Agreement falls. Purchaser
acknowledges that the foregoing is only a summary of the effect of United States federal income taxation with respect to purchase
of the Common Stock hereunder, and does not purport to be complete. Purchaser further acknowledges that the Company has directed
Purchaser to seek independent advice regarding the applicable provisions of the Code, the income tax laws of any municipality,
state or foreign country in which Purchaser may reside, and the tax consequences of Purchaser’s death. Purchaser assumes
all responsibility for filing an 83(b) Election and paying all taxes resulting from such election or the lapse of the restrictions
on the Common Stock.

 

13.         Refusal to Transfer. The Company is not required (a) to transfer on its books any shares of Common Stock
of the Company that have been transferred in violation of any of the provisions set forth in this Agreement, or (b) to treat
as owner of such shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such shares
have been so transferred.

 

14.          No
Employment Rights. This Agreement is not an employment contract and nothing in this Agreement affects in any manner whatsoever
the right or power of the Company or its Affiliates to terminate Purchaser’s employment for any reason at any time, with
or without cause and with or without notice.

 

    5

     

    

 

15.          Miscellaneous.

 

(a)          Notices.
All notices required or permitted hereunder will be in writing and will be deemed effectively given: (i) upon personal
delivery to the party to be notified, (ii) when sent by confirmed facsimile if sent during normal business hours of the recipient,
and if not during normal business hours of the recipient, then on the next business day, (iii) five calendar days after having
been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one business day after deposit
with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications
will be sent to the other party hereto at such party’s address hereinafter set forth on the signature page hereof, or at
such other address as such party may designate by 10 days’ advance written notice to the other party hereto.

 

(b)          Successors and Assigns. This Agreement will inure to the benefit of the successors and assigns of the Company
and, subject to the restrictions on transfer herein set forth, be binding upon Purchaser, Purchaser’s successors, and assigns.
The Company may assign the Repurchase Option hereunder at any time or from time to time, in whole or in part.

 

(c)          Attorneys’
Fees; Specific Performance. Purchaser will reimburse the Company for all costs incurred by the Company in enforcing the performance
of, or protecting its rights under, any part of this Agreement, including reasonable costs of investigation and attorneys’
fees. It is the intention of the parties that the Company, upon exercise of the Repurchase Option and payment for the shares repurchased,
pursuant to the terms of this Agreement, will be entitled to receive the Common Stock, in specie, in order to have such
Common Stock available for future issuance without dilution of the holdings of other stockholders. Furthermore, it is expressly
agreed between the parties that money damages are inadequate to compensate the Company for the Common Stock and that the Company
will, upon proper exercise of the Repurchase Option, be entitled to specific enforcement of its rights to purchase and receive
said Common Stock.

 

(d)          Governing
Law; Venue. This Agreement will be governed by and construed in accordance with the laws of the State of Delaware. The parties
agree that any action brought by either party to interpret or enforce any provision of this Agreement will be brought in, and
each party agrees to, and does hereby, submit to the jurisdiction and venue of, the appropriate state or federal court for the
district encompassing the Company’s principal place of business.

 

(e)          Further
Execution. The parties agree to take all such further action(s) as may reasonably be necessary to carry out and consummate
this Agreement as soon as practicable, and to take whatever steps may be necessary to obtain any governmental approval in connection
with or otherwise qualify the issuance of the securities that are the subject of this Agreement.

 

(f)           Independent
Counsel. Purchaser acknowledges that this Agreement has been prepared on behalf of the Company by Cooley LLP,
counsel to the Company and that Cooley LLP does not represent, and is not acting
on behalf of, Purchaser in any capacity. Purchaser has been provided with an opportunity to consult with Purchaser’s own
counsel with respect to this Agreement.

 

(g)          Entire
Agreement; Amendment. This Agreement constitutes the entire agreement between the parties with respect to the subject matter
hereof and supersedes and merges all prior agreements or understandings, whether written or oral. This Agreement may not be amended,
modified or revoked, in whole or in part, except by an agreement in writing signed by each of the parties hereto.

 

(h)         Severability.
If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate
such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for
such provision, then (i) such provision will be excluded from this Agreement, (ii) the balance of the Agreement will be interpreted
as if such provision were so excluded and (iii) the balance of the Agreement will be enforceable in accordance with its terms.

 

(i)          Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together
will constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable
law) or other transmission method and any counterpart so delivered will be deemed to have been duly and validly delivered and
be valid and effective for all purposes.

 

[Remainder of page
intentionally left blank]

 

    6

     

    

 

The parties hereto
have executed this Agreement as of _______________.

 

	 	COMPANY:
	 	 
	 	
        Olema
Pharmaceuticals, Inc.

	 	 
	 	By:	 
	 	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 
	 	Email:	 
	 	 
	 	 
	 	PURCHASER:
	 	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	Name (Please Print)
	 	 
	 	 
	 	Email

 

Attachments:

 

	Exhibit A	Notice of Exercise
	Exhibit B	Assignment Separate from Certificate
	Exhibit C	Joint Escrow Instructions
	Exhibit D	Form of 83(b) Election

 

[Signature Page
to Early Exercise Stock Purchase Agreement]

 

     

     

    

 

EXHIBIT A

 

NOTICE OF EXERCISE

 

	 ̈        Incentive
Stock Option	Participant:
	 ̈       Nonstatutory
Stock Option	Date:
	x      Early
Exercise Permitted	 

 

STOCK OPTION EXERCISE
NOTICE

 

Olema Pharmaceuticals,
Inc

Attention: Chief Financial
Officer

512 2nd Street, 4th Floor

San Francisco, CA 94107

 

Ladies and Gentlemen:

 

		1.	Option. I was granted an option (the “Option”) to purchase
shares of the common stock (the “Shares”) of Olema Pharmaceuticals, Inc., a Delaware corporation (the
 “Company”) pursuant to the Company’s 2014 Stock Plan (the “Plan”), my
Notice of Grant of Stock Option (the “Grant Notice”) and my Stock Option Agreement (the “Option
Agreement”) as follows:

 

Date of Grant:

 

Number of Option
Shares:

 

Exercise Price
per Share:                                                                                                    $

 

		2.	Exercise of Option. I hereby elect to exercise the Option to purchase the following
number of Shares, all of which are Vested Shares, in accordance with the Grant Notice and the Option Agreement:

 

Total Shares
Purchased:

 

Total Exercise
Price (Total Shares X Price per Share)                                                       $

 

		3.	Payments. I enclose payment in full of the total exercise price for the Shares in
the following form(s), as authorized by my Option Agreement:

 

		 ̈	Cash:                                                                                                                             $

 

		 ̈	Check:

 

		 ̈	Stock Tender Exercise:                                                                      Contact Plan Administrator

 

		 ̈	Cashless Exercise:                                                                             Contact Plan Administrator

 

		 ̈	Net Exercise:                                                                                      Contact Plan Administrator

 

    1 

     

    

 

		4.	Tax Withholding. I authorize payroll withholding and otherwise will make adequate
provision for the federal, state, local and foreign tax withholding obligations of the Company, if any, in connection with the
Option. If I am exercising a Nonstatutory Stock Option, I enclose payment in full of my withholding taxes, if any, as follows:

 

(Contact Plan Administrator
for amount of tax due.)

 

		 ̈	Cash:                                                                                                                             $

 

		 ̈	Check:                                                                                                                           $

 

		5.	Participant Information.

 

My address is:

 

My Social Security
Number is:

 

		6.	Notice of Disqualifying Disposition. If the Option is an Incentive Stock Option,
I agree that I will promptly notify the Chief Financial Officer of the Company if I transfer any of the Shares within one (1) year
from the date I exercise all or part of the Option or within two (2) years of the Date of Grant.

 

		7.	Binding Effect. I agree that the Shares are being acquired in accordance with and
subject to the terms, provisions and conditions of the Grant Notice, the Option Agreement, including the Right of First Refusal
set forth therein, and the Plan, to all of which I hereby expressly assent. This Agreement shall inure to the benefit of and be
binding upon my heirs, executors, administrators, successors and assigns.

 

		8.	Transfer. I understand and acknowledge that the Shares have not been registered under
the Securities Act of 1933, as amended (the “Securities Act “), and that consequently the Shares must
be held indefinitely unless they are subsequently registered under the Securities Act, an exemption from such registration is available,
or they are sold in accordance with Rule 144 or Rule 701 under the Securities Act. I further understand and acknowledge that the
Company is under no obligation to register the Shares. I understand that the certificate or certificates evidencing the Shares
will be imprinted with legends which prohibit the transfer of the Shares unless they are registered or such registration is not
required in the opinion of legal counsel satisfactory to the Company.

 

I am aware that Rule
144 under the Securities Act, which permits limited public resale of securities acquired in a nonpublic offering, is not currently
available with respect to the Shares and, in any event, is available only if certain conditions are satisfied. I understand that
any sale of the Shares that might be made in reliance upon Rule 144 may only be made in limited amounts in accordance with the
terms and conditions of such rule and that a copy of Rule 144 will be delivered to me upon request.

 

    2 

     

    

 

I understand that I
am purchasing the Shares pursuant to the terms of the Plan, the Grant Notice and my Option Agreement, copies of which I have received
and carefully read and understand.

 

	 	Very truly yours,
	 	 
	 	 
	 	(Signature)

 

	Receipt of the above is hereby
    acknowledged.	 
	 	 
	OLEMA PHARMACEUTICALS, INC	 
	 	 
	By:                                                                                                                             	
	Title:                                                                                                                          	 
	Dated:                                                                                                                       	 

 

    3 

     

    

 

EXHIBIT B

 

STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE

 

For
Value Received, the undersigned hereby sells, assigns and transfers unto Olema Pharmaceuticals, Inc., a Delaware
corporation (the “Company”), pursuant to the Repurchase Option under that certain Early Exercise Stock
Purchase Agreement, dated ______________, by and between the undersigned and the Company (the “Agreement”)
__________________ shares of Common Stock of the Company standing in the undersigned’s name on the books of the Company represented
by Certificate No[s] ________________ and does hereby irrevocably constitute and appoint both the Company’s Secretary and
the Company’s attorney, or either of them, to transfer said stock on the books of the Company with full power of substitution
in the premises. This Assignment may be used only in accordance with and subject to the terms and conditions of the Agreement,
in connection with the repurchase of shares of Common Stock issued to the undersigned pursuant to the Agreement, and only to the
extent that such shares remain subject to the Company’s Repurchase Option under the Agreement.

 

	Dated: __________________________	 
	(leave blank)	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	Name (Please Print)

 

Instruction:
Please do not fill in any blanks other than the signature line. Do not fill in the date line. The
purpose of this Assignment is to enable the Company to exercise its Repurchase Option set forth in the Agreement without requiring
additional signatures on the part of Purchaser.

 

     

     

    

 

EXHIBIT C

 

JOINT ESCROW INSTRUCTIONS

 

     

     

    

 

JOINT ESCROW INSTRUCTIONS

 

________, 20__

 

Secretary

Olema Pharmaceuticals, Inc.

512 2nd Street, 4th Floor

San Francisco, California 95107

 

Ladies and Gentlemen:

 

As Escrow Agent for both Olema Pharmaceuticals,
Inc., a Delaware corporation (“Company”) and the purchaser
listed on the signature page hereto (“Purchaser”), you are hereby authorized and directed to hold the
documents delivered to you pursuant to the terms of that certain Early Exercise Stock Purchase Agreement dated as of _______________
(“Agreement”), to which a copy of these Joint Escrow Instructions is attached as an Exhibit, in accordance
with the following instructions:

 

1.                  
In the event Company or an assignee elects to exercise the Repurchase Option set forth in the Agreement, the Company
or its assignee will give to Purchaser and you a written notice specifying the number of shares of stock to be acquired and the
time for a closing thereunder at the principal office of the Company. Purchaser and the Company hereby irrevocably authorize and
direct you to close the transaction contemplated by such notice in accordance with the terms of said notice.

 

2.                  
At the closing, you are directed (a) to date the stock assignments necessary for the transfer in question, (b) to fill
in the number of shares being transferred, and (c) to deliver the same, together with the certificate evidencing the shares of
stock to be transferred, to the Company.

 

3.                  
Purchaser irrevocably authorizes the Company to deposit with you any certificates evidencing shares of stock to be held
by you hereunder and any additions and substitutions to said shares as specified in the Agreement. Purchaser does hereby irrevocably
constitute and appoint you as his attorney-in-fact and agent for the term of this escrow to execute with respect to such securities
all documents necessary or appropriate to make such securities negotiable and complete any transaction herein contemplated, including
but not limited to any appropriate filing with state or government officials or bank officials. Subject to the provisions of this
paragraph 3, Purchaser will exercise all rights and privileges of a stockholder of the Company while the stock is held by you.

 

4.                  
This escrow terminates and the shares of stock held hereunder are released in full upon the exercise or expiration in
full of the Repurchase Option, whichever occurs first.

 

5.                  
If at the time of termination of this escrow under Section 4 herein you should have in your possession any documents,
securities, or other property belonging to Purchaser, you will deliver all of the same to Purchaser and will be discharged of all
further obligations hereunder; provided, however, that if at the time of termination of this escrow you are advised by the Company
that any property subject to this escrow is the subject of a pledge or other security agreement, you will deliver all such property
to the pledgeholder or other person designated by the Company.

 

6.                  
Except as otherwise provided in these Joint Escrow Instructions, your duties hereunder may be altered, amended, modified
or revoked only by a writing signed by all of the parties hereto.

 

     

     

    

 

7.                  
You are obligated only for the performance of such duties as are specifically set forth herein and may rely and are
protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed
or presented by the proper party or parties. You are not personally liable for any act you may do or omit to do hereunder as Escrow
Agent or as attorney-in-fact for Purchaser while acting in good faith and in the exercise of your own good judgment, and any act
done or omitted by you pursuant to the advice of your own attorneys is conclusive evidence of such good faith.

 

8.                  
You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other
person or entity, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey
orders, judgments or decrees of any court. In case you obey or comply with any such order, judgment or decree of any court, you
are not liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding
any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or found to have been entered
without jurisdiction.

 

9.                  
You are not liable in any respect on account of the identity, authorities or rights of the parties executing or delivering
or purporting to execute or deliver these Joint Escrow Instructions documents or papers deposited or called for hereunder.

 

10.              
You are not liable for the outlawing of any rights under any statute of limitations with respect to these Joint Escrow
Instructions or any documents deposited with you.

 

11.              
Your responsibilities as Escrow Agent hereunder terminate if you cease to be Secretary of the Company or if you resign
by written notice to the Company. In the event of any such termination, the Secretary of the Company will automatically become
the successor Escrow Agent unless the Company appoints another successor Escrow Agent, and Purchaser hereby confirms the appointment
of such successor as Purchaser’s attorney-in-fact and agent to the full extent of your appointment.

 

12.              
If you reasonably require other or further instruments in connection with these Joint Escrow Instructions or obligations
in respect hereto, the necessary parties hereto will join in furnishing such instruments.

 

13.              
It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of
possession of the securities held by you hereunder, you are authorized and directed to retain in your possession without liability
to anyone all or any part of said securities until such dispute has been settled either by mutual written agreement of the parties
concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and
no appeal has been perfected, but you will be under no duty whatsoever to institute or defend any such proceedings.

 

14.              
All notices required or permitted hereunder will be in writing and will be deemed effectively given: (a) upon personal
delivery to the party to be notified, (b) when sent by confirmed telex or facsimile if sent during normal business hours of the
recipient, and if not during normal business hours of the recipient, then on the next business day, (c) five (5) calendar days
after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day
after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt.
All communications will be sent to the other party hereto at such party’s address set forth below, or at such other address
as such party may designate by ten (10) days advance written notice to the other party hereto.

 

    2 

     

    

 

	Company:	Olema Pharmaceuticals, Inc.
	 	512 2nd Street, 4th Floor
	 	San Francisco, California 95107 

Attn: Chief Executive Officer

 

	Purchaser:	
        _________________________

        _________________________

        _________________________

	 	 

 

	Escrow Agent:	Olema Pharmaceuticals, Inc.
	 	512 2nd Street, 4th Floor
	 	
        San Francisco, California 95107

        Attn: Secretary

         

 

15.              
By signing these Joint Escrow Instructions, you become a party hereto only for the purpose of said Joint Escrow Instructions;
you do not become a party to the Agreement.

 

16.              
You are entitled to employ such legal counsel and other experts (including, without limitation, the firm of Cooley LLP)
as you may deem necessary properly to advise you in connection with your obligations hereunder. You may rely upon the advice of
such counsel, and you may pay such counsel reasonable compensation therefor. The Company is responsible for all fees generated
by such legal counsel in connection with your obligations hereunder.

 

17.              
This instrument is binding upon and inures to the benefit of the parties hereto and their respective successors and
permitted assigns. It is understood and agreed that references to “you” and “your” herein refer to the
original Escrow Agents and to any and all successor Escrow Agents. It is understood and agreed that the Company may at any time
or from time to time assign its rights under the Agreement and these Joint Escrow Instructions in whole or in part.

 

[Remainder of page intentionally left
blank]

 

    3 

     

    

 

18.              
These Joint Escrow Instructions are governed by and interpreted and determined in accordance with the laws of the State
of Delaware, as such laws are applied by Delaware courts to contracts made and to be performed entirely in Delaware by residents
of that state. The parties hereby expressly consent to the personal jurisdiction of the state and federal courts located in the
county in which the Company has its principal offices for any lawsuit arising from or related to this Agreement.

 

Very truly yours,

 

	 	COMPANY:
	 	 
	 	Olema Pharmaceuticals, Inc.
	 	 
	 	By:	           
	 	 	 
	 	 	Name:                                                                                                                         
	 	 	 
	 	 	Title:                                                                                                                           
	 	 	 
	 	PURCHASER:
	 	 	 
	 	 	(Signature)
	 	 	 
	 	 	Name
    (Please Print)
	Escrow Agent:	 	 
	 	 	 
	[_______], Secretary	 	 

 

[Signature Page to Joint Escrow Instructions]

 

     

     

    

 

EXHIBIT D

 

83(b) ELECTION

 

 

     

     

    

 

 

OLEMA
PHARMACEUTICALS, INC.

NOTICE OF GRANT OF RESTRICTED STOCK

 

 

The Participant
has been granted an award (the “Award”) of certain shares of Stock (the “Shares”)
of Olema Pharmaceuticals, Inc., a Delaware corporation, pursuant to the Olema Pharmaceuticals, Inc. 2014 Stock Plan (the
 “Plan”), as follows:

 

	Participant:	 
	 	 
	Date
    of Grant:	 
	 	 
	Total
    Number of Shares:	
	 	 
	Fair
    Market Per Share on Date of Grant:	 
	 	 
	Initial
    Vesting Date:	 
	 	 
	Vested
    Shares:	Except
    as provided in the Restricted Stock Agreement, the number of Vested Shares (disregarding any resulting fractional share) as
    of any date, in each case contingent upon Participant’s Continuous Service, is determined by multiplying the Total Number
    of Shares by the “Vested Ratio” determined as of such date as follows:
	 	 
	 	 	Vested
    Ratio
	 	Prior
    to Initial Vesting Date	 
	 	On
    Initial Vesting Date, provided the Participant’s Service has not terminated prior to such date	 
	 	 	 
	 	Plus	 
	 	 	 
	 	For
    each additional full month of the Participant’s continuous Service from Initial Vesting Date until the Vested Ratio
    equals 1/1, an additional	 

 

     

     

    

 

By their
signatures below, the Company and the Participant agree that the Award is governed by this Grant Notice and by the provisions
of the Plan and the Restricted Stock Agreement, both of which are attached to and made a part of this document. The Participant
acknowledges receipt of copies of the Plan and the Restricted Stock Agreement, represents that the Participant has read and is
familiar with their provisions, and hereby accepts the Award subject to all of their terms and conditions.

 

	Olema
    Pharmaceuticals, Inc.	PARTICIPANT: 
	 	 
	By:	                  	 	Signature
    
	 	 	 	 
	Name
    & Title: 	Date: 
	 	 
	512
        2nd Street, 4th Floor

         

        San
        Francisco, CA 94107 
	Address: 

 

		ATTACHMENTS:	2014
                                         Stock Plan, as amended to the Date of Grant; Restricted Stock Agreement, Assignment Separate
                                         from Certificate and form of Section 83(b) Election

 

     

     

    

 

THE
SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION
WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT
RELATED THERETO OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES
ACT OF 1933.

 

OLEMA
PHARMACEUTICALS, INC.

RESTRICTED STOCK AGREEMENT

 

Olema
Pharmaceuticals, Inc., a Delaware corporation has granted to the Participant named in
the Notice of Grant of Restricted Stock (the “Grant Notice”) to which this Restricted Stock Agreement
(the “Agreement”) is attached an Award consisting of Shares subject to the terms and conditions set
forth in the Grant Notice and this Agreement. The Award has been granted pursuant to and shall in all respects be subject to the
terms and conditions of the Olema Pharmaceuticals, Inc. 2014 Stock Plan (the “Plan”), as amended to
the Date of Grant, the provisions of which are incorporated herein by reference. By signing the Grant Notice, the Participant:
(a) acknowledges receipt of, and represents that the Participant has read and is familiar with, the Grant Notice, this Agreement
and the Plan, (b) accepts the Award subject to all of the terms and conditions of the Grant Notice, this Agreement and the Plan,
and (c) agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising
under the Grant Notice, this Agreement or the Plan.

 

1.                 
Definitions and Construction.

 

1.1             
Definitions. Unless otherwise defined herein, capitalized terms shall have the meanings
assigned to such terms in the Grant Notice or the Plan.

 

1.2             
Construction. Captions and titles contained herein are for convenience only and shall
not affect the meaning or interpretation of any provision of this Agreement. Except when otherwise indicated by the context, the
singular shall include the plural and the plural shall include the singular. Use of the term “or” is
not intended to be exclusive, unless the context clearly requires otherwise.

 

    1 

     

    

 

2.                 
Tax Matters.

 

2.1             
Election under Section 83(b) of the Code. The Participant understands that Section
83 of the Code taxes as ordinary income the difference between the amount paid for the Shares, if anything, and the fair market
value of the Shares as of the date on which the Shares are “substantially vested,” within the meaning of Section 83.
In this context, “substantially vested” means that the right of the Company to reacquire the Shares pursuant to the
Company Reacquisition Right has lapsed. The Participant understands that he or she may elect to have his or her taxable income
determined at the time he or she acquires the Shares rather than when and as the Company Reacquisition Right lapses by filing
an election under Section 83(b) of the Code with the Internal Revenue Service no later than thirty (30) days after the date of
acquisition of the Shares. The Participant understands that failure to make a timely filing under Section 83(b) will result in
his or her recognition of ordinary income, as the Company Reacquisition Right lapses, on the difference between the purchase price,
if anything, and the fair market value of the Shares at the time such restrictions lapse. The Participant further understands,
however, that if Shares with respect to which an election under Section 83(b) has been made are forfeited to the Company pursuant
to its Company Reacquisition Right, such forfeiture will be treated as a sale on which there is realized a loss equal to the excess
(if any) of the amount paid (if any) by the Participant for the forfeited Shares over the amount realized (if any) upon their
forfeiture. If the Participant has paid nothing for the forfeited Shares and has received no payment upon their forfeiture, the
Participant understands that he or she will be unable to recognize any loss on the forfeiture of the Shares even though the Participant
incurred a tax liability by making an election under Section 83(b).

 

2.2             
Notice to Company. The Participant will notify the Company in writing if the Participant
files an election pursuant to Section 83(b) of the Code. The Company intends, in the event it does not receive from the Participant
evidence of such filing, to claim a tax deduction for any amount which would otherwise be taxable to the Participant in the absence
of such an election.

 

2.3             
Valuation of the Shares.

 

(a)              
The Shares have been valued by the Company, and the Company believes this valuation represents
a fair attempt at reaching an accurate appraisal of their worth. The Participant understands, however, that the Company can give
no assurances that such valuation is in fact the fair market value of the Shares and that it is possible that with the benefit
of hindsight, the Internal Revenue Service would successfully assert that the value of the Shares on any relevant date is greater
than so determined.

 

(b)              
If the Internal Revenue Service were to succeed in a tax determination under the Code that
the Shares received have a value greater than that determined by the Company, the additional value would constitute ordinary income
as of the date of the Participant’s realization of income. The additional taxes (and interest) due would be payable by the
Participant, and there is no provision for the Company to reimburse him or her for that tax liability, and the Participant assumes
all responsibility for such potential tax liability. Under present law, in the event such additional value would represent more
than twenty-five (25%) of the Participant’s gross income for the year in which the value of the Shares were taxable, the
Internal Revenue Service would have six (6) years from the due date for filing the return (or the actual filing date of the return
if filed thereafter) within which to access the Participant the additional tax and interest which would then be due. The Company
undertakes no obligation to inform the Participant of any change in the tax laws which may effect this Agreement or its consequences.

 

2.4             
Consultation with Tax Advisors. The Participant understands that he or she should
consult with his or her tax advisor regarding the advisability of filing with the IRS an election under Section 83(b) of the Code,
which must be filed no later than thirty (30) days after the date of the acquisition or the Shares pursuant to this Agreement.
Failure to file an election under Section 83(b), if appropriate, may result in adverse tax consequences to the Participant. The
Participant acknowledges that he or she has been advised to consult with a tax advisor regarding the tax consequences to the Participant
of the purchase of Shares hereunder. ANY ELECTION UNDER SECTION 83(b) THE PARTICIPANT WISHES TO MAKE MUST BE FILED NO LATER THAN
30 DAYS AFTER THE DATE ON WHICH THE PARTICIPANT ACQUIRES THE SHARES. THIS TIME PERIOD CANNOT BE EXTENDED. THE PARTICIPANT ACKNOWLEDGES
THAT TIMELY FILING OF A SECTION 83(b) ELECTION IS THE PARTICIPANT’S SOLE RESPONSIBILITY, EVEN IF THE PARTICIPANT REQUESTS
THE COMPANY OR ITS REPRESENTATIVE TO FILE SUCH ELECTION ON HIS OR HER BEHALF.

 

    2 

     

    

 

2.5             
Tax Withholding.

 

(a)              
In General. At the time the Grant Notice is executed, or at any time thereafter
as requested by a Participating Company, the Participant hereby authorizes withholding from payroll and any other amounts payable
to the Participant, and otherwise agrees to make adequate provision for, any sums required to satisfy the federal, state, local
and foreign tax (including any social insurance) withholding obligations of the Participating Company, if any, which arise in
connection with the Award, including, without limitation, obligations arising upon (a) the transfer of Shares to the Participant,
(b) the lapsing of any restriction with respect to any Shares, (c) the filing of an election to recognize tax liability, or (d)
the transfer by the Participant of any Shares. The Company shall have no obligation to deliver the Shares or to release any Shares
from the Escrow established pursuant to Section 8 until the tax withholding obligations of the Participating Company have been
satisfied by the Participant.

 

(b)              
Withholding in Shares. The Company shall have the right, but not the obligation,
to require the Participant to satisfy all or any portion of a Participating Company’s tax withholding obligations by withholding
a number of whole Vested Shares otherwise deliverable to the Participant or by the Participant’s tender to the Company of
a number of whole Vested Shares or vested shares acquired otherwise than pursuant to the Award having, in any such case, a fair
market value, as determined by the Company as of the date on which the tax withholding obligations arise, not in excess of the
amount of such tax withholding obligations determined by the applicable minimum statutory withholding rates.

 

3.                 
Administration.

 

All
questions of interpretation concerning the Grant Notice, this Agreement, the Plan or any other form of agreement or other document
employed by the Company in the administration of the Plan or the Award shall be determined by the Board. All such determinations
by the Board shall be final, binding and conclusive upon all persons having an interest in the Award, unless fraudulent or made
in bad faith. Any and all actions, decisions and determinations taken or made by the Board in the exercise of its discretion pursuant
to the Plan or the Award or other agreement thereunder (other than determining questions of interpretation pursuant to the preceding
sentence) shall be final, binding and conclusive upon all persons having an interest in the Award. Any Officer shall have the
authority to act on behalf of the Company with respect to any matter, right, obligation, or election which is the responsibility
of or which is allocated to the Company herein, provided the Officer has apparent authority with respect to such matter, right,
obligation, or election.

 

    3 

     

    

 

4.                 
The Award.

 

4.1             
Grant and Issuance of Shares. On the Date of Grant, the Participant shall acquire
and the Company shall issue, subject to the provisions of this Agreement, a number of Shares equal to the Total Number of Shares.
As a condition to the issuance of the Shares, the Participant shall execute and deliver the Grant Notice to the Company, accompanied
by an Assignment Separate from Certificate duly endorsed (with date and number of shares blank) in the form provided by the Company.

 

4.2             
No Monetary Payment Required. The Participant is not required to make any monetary
payment (other than to satisfy applicable tax withholding, if any, with respect to the issuance or vesting of the Shares) as a
condition to receiving the Shares, the consideration for which shall be past services actually rendered or future services to
be rendered to a Participating Company or for its benefit. Notwithstanding the foregoing, if required by applicable law, the Participant
shall furnish consideration in the form of cash or past services rendered to a Participating Company or for its benefit having
a value not less than the par value of the Shares issued pursuant to the Award.

 

4.3             
Beneficial Ownership of Shares; Certificate Registration. The Participant hereby authorizes
the Company, in its sole discretion, to deposit the Shares with the Company’s transfer agent, including any successor transfer
agent, to be held in book entry form during the term of the Escrow pursuant to Section 8. Furthermore, the Participant hereby
authorizes the Company, in its sole discretion, to deposit, following the term of such Escrow, for the benefit of the Participant
with any broker with which the Participant has an account relationship of which the Company has notice any or all Shares which
are no longer subject to such Escrow. Except as provided by the foregoing, a certificate for the Shares shall be registered in
the name of the Participant, or, if applicable, in the names of the heirs of the Participant.

 

4.4             
Issuance of Shares in Compliance with Law. The issuance of Shares shall be subject
to compliance with all applicable requirements of federal, state or foreign law with respect to such securities. No Shares shall
be issued hereunder if their issuance would constitute a violation of any applicable federal, state or foreign securities laws
or other law or regulations or the requirements of any stock exchange or market system upon which the Stock may then be listed.
The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s
legal counsel to be necessary to the lawful issuance of any Shares shall relieve the Company of any liability in respect of the
failure to issue such Shares as to which such requisite authority shall not have been obtained. As a condition to the issuance
of the Shares, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate, to
evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may
be requested by the Company.

 

5.                 
Vesting of Shares.

 

Shares
acquired pursuant to this Agreement shall become Vested Shares as provided in the Grant Notice. For purposes of determining the
number of Vested Shares following an Ownership Change Event, credited Service shall include all Service with any corporation which
is a Participating Company at the time the Service is rendered, whether or not such corporation is a Participating Company both
before and after the Ownership Change Event.

 

    4 

     

    

 

6.                 
Company Reacquisition Right.

 

6.1             
Grant of Company Reacquisition Right. In the event that (a) the Participant’s
Service terminates for any reason or no reason, with or without cause, or, (b) the Participant, the Participant’s legal
representative, or other holder of the Shares, attempts to sell, exchange, transfer, pledge, or otherwise dispose of (other than
pursuant to an Ownership Change Event), including, without limitation, any transfer to a nominee or agent of the Participant,
any Shares which are not Vested Shares (“Unvested Shares”), the Participant shall forfeit and the Company
shall automatically reacquire the Unvested Shares, and the Participant shall not be entitled to any payment therefor (the “Company
Reacquisition Right”).

 

6.2             
Ownership Change Event, Dividends, Distributions and Adjustments. Upon the occurrence
of an Ownership Change Event, a dividend or distribution to the stockholders of the Company paid in shares of Stock or other property,
or any other adjustment upon a change in the capital structure of the Company as described in Section 10, any and all new, substituted
or additional securities or other property (other than regular, periodic dividends paid on Stock pursuant to the Company’s
dividend policy) to which the Participant is entitled by reason of the Participant’s ownership of Unvested Shares shall
be immediately subject to the Company Reacquisition Right and included in the terms “Shares,” “Stock”
and “Unvested Shares” for all purposes of the Company Reacquisition Right with the same force and effect
as the Unvested Shares immediately prior to the Ownership Change Event, dividend, distribution or adjustment, as the case may
be. For purposes of determining the number of Vested Shares following an Ownership Change Event, dividend, distribution or adjustment,
credited Service shall include all Service with any corporation which is a Participating Company at the time the Service is rendered,
whether or not such corporation is a Participating Company both before and after any such event.

 

7.                 
Right of First Refusal.

 

7.1             
Grant of Right of First Refusal. Except as provided in Section 7.7 and Section 14
below, in the event the Participant, the Participant’s legal representative, or other holder of shares subject to the Award
proposes to sell, exchange, transfer, pledge, or otherwise dispose of any Vested Shares (the “Transfer Shares”)
to any person or entity, including, without limitation, any stockholder of a Participating Company, the Company shall have the
right to repurchase the Transfer Shares under the terms and subject to the conditions set forth in this Section (the “Right
of First Refusal”).

 

7.2             
Notice of Proposed Transfer. Prior to any proposed transfer of the Transfer Shares,
the Participant shall deliver written notice (the “Transfer Notice”) to the Company describing fully
the proposed transfer, including the number of Transfer Shares, the name and address of the proposed transferee (the “Proposed
Transferee”) and, if the transfer is voluntary, the proposed transfer price, and containing such information necessary
to show the bona fide nature of the proposed transfer. In the event of a bona fide gift or involuntary transfer, the proposed
transfer price shall be deemed to be the Fair Market Value of the Transfer Shares, as determined by the Board in good faith. If
the Participant proposes to transfer any Transfer Shares to more than one Proposed Transferee, the Participant shall provide a
separate Transfer Notice for the proposed transfer to each Proposed Transferee. The Transfer Notice shall be signed by both the
Participant and the Proposed Transferee and must constitute a binding commitment of the Participant and the Proposed Transferee
for the transfer of the Transfer Shares to the Proposed Transferee subject only to the Right of First Refusal.

 

    5 

     

    

 

7.3             
Bona Fide Transfer. If the Company determines that the information provided by the
Participant in the Transfer Notice is insufficient to establish the bona fide nature of a proposed voluntary transfer, the Company
shall give the Participant written notice of the Participant’s failure to comply with the procedure described in this Section
7, and the Participant shall have no right to transfer the Transfer Shares without first complying with the procedure described
in this Section 7. The Participant shall not be permitted to transfer the Transfer Shares if the proposed transfer is not bona
fide.

 

7.4             
Exercise of Right of First Refusal. If the Company determines the proposed transfer
to be bona fide, the Company shall have the right to purchase all, but not less than all, of the Transfer Shares (except as the
Company and the Participant otherwise agree) at the purchase price and on the terms set forth in the Transfer Notice by delivery
to the Participant of a notice of exercise of the Right of First Refusal within thirty (30) days after the date the Transfer Notice
is delivered to the Company. The Company’s exercise or failure to exercise the Right of First Refusal with respect to any
proposed transfer described in a Transfer Notice shall not affect the Company’s right to exercise the Right of First Refusal
with respect to any proposed transfer described in any other Transfer Notice, whether or not such other Transfer Notice is issued
by the Participant or issued by a person other than the Participant with respect to a proposed transfer to the same Proposed Transferee.
If the Company exercises the Right of First Refusal, the Company and the Participant shall thereupon consummate the sale of the
Transfer Shares to the Company on the terms set forth in the Transfer Notice within sixty (60) days after the date the Transfer
Notice is delivered to the Company (unless a longer period is offered by the Proposed Transferee); provided, however, that in
the event the Transfer Notice provides for the payment for the Transfer Shares other than in cash, the Company shall have the
option of paying for the Transfer Shares by the present value cash equivalent of the consideration described in the Transfer Notice
as reasonably determined by the Company. For purposes of the foregoing, cancellation of any indebtedness of the Participant to
any Participating Company shall be treated as payment to the Participant in cash to the extent of the unpaid principal and any
accrued interest canceled. Notwithstanding anything contained in this Section to the contrary, the period during which the Company
may exercise the Right of First Refusal and consummate the purchase of the Transfer Shares from the Participant shall terminate
no sooner than the completion of a period of eight (8) months following the date on which the Participant acquired the Transfer
Shares.

 

7.5             
Failure to Exercise Right of First Refusal. If the Company fails to exercise the Right
of First Refusal in full (or to such lesser extent as the Company and the Participant otherwise agree) within the period specified
in Section 7.4, the Participant may conclude a transfer to the Proposed Transferee of the Transfer Shares on the terms and conditions
described in the Transfer Notice, provided such transfer occurs not later than ninety (90) days following delivery to the Company
of the Transfer Notice or, if applicable, following the end of the period described in the last sentence of Section 7.4. The Company
shall have the right to demand further assurances from the Participant and the Proposed Transferee (in a form satisfactory to
the Company) that the transfer of the Transfer Shares was actually carried out on the terms and conditions described in the Transfer
Notice. No Transfer Shares shall be transferred on the books of the Company until the Company has received such assurances, if
so demanded, and has approved the proposed transfer as bona fide. Any proposed transfer on terms and conditions different from
those described in the Transfer Notice, as well as any subsequent proposed transfer by the Participant, shall again be subject
to the Right of First Refusal and shall require compliance by the Participant with the procedure described in this Section.

 

    6 

     

    

 

7.6             
Transferees of Transfer Shares. All transferees of the Transfer Shares or any interest
therein, other than the Company, shall be required as a condition of such transfer to agree in writing (in a form satisfactory
to the Company) that such transferee shall receive and hold such Transfer Shares or interest therein subject to all of the terms
and conditions of this Agreement, including this Section 7 providing for the Right of First Refusal with respect to any subsequent
transfer. Any sale or transfer of any Shares shall be void unless the provisions of this Section are met.

 

7.7             
Transfers Not Subject to Right of First Refusal. The Right of First Refusal shall
not apply to any transfer or exchange of the Shares if such transfer or exchange is in connection with an Ownership Change Event.
If the consideration received pursuant to such transfer or exchange consists of stock of a Participating Company, such consideration
shall remain subject to the Right of First Refusal unless the provisions of Section 7.9 result in a termination of the Right of
First Refusal.

 

7.8             
Assignment of Right of First Refusal. The Company shall have the right to assign the
Right of First Refusal at any time, whether or not there has been an attempted transfer, to one or more persons as may be selected
by the Company.

 

7.9             
Early Termination of Right of First Refusal. The other provisions of this Agreement
notwithstanding, the Right of First Refusal shall terminate and be of no further force and effect upon (a) the occurrence of a
Change in Control, unless the Acquiror assumes the Company’s rights and obligations under this Agreement, or (b) the existence
of a public market for the class of shares subject to the Right of First Refusal. A “public market”
shall be deemed to exist if (i) such stock is listed on a national securities exchange (as that term is used in the Exchange Act)
or (ii) such stock is traded on the over-the-counter market and prices therefor are published daily on business days in a recognized
financial journal.

 

8.                 
Escrow.

 

8.1             
Appointment of Agent. To ensure that Shares subject to the Company Reacquisition Right
will be available for reacquisition, the Participant and the Company hereby appoint the Secretary of the Company, or any other
person designated by the Company, as their agent and as attorney-in-fact for the Participant (the “Agent”)
to hold any and all Unvested Shares and to sell, assign and transfer to the Company any such Unvested Shares reacquired by the
Company pursuant to the Company Reacquisition Right. The Participant understands that appointment of the Agent is a material inducement
to make this Agreement and that such appointment is coupled with an interest and is irrevocable. The Agent shall not be personally
liable for any act the Agent may do or omit to do hereunder as escrow agent, agent for the Company, or attorney in fact for the
Participant while acting in good faith and in the exercise of the Agent’s own good judgment, and any act done or omitted
by the Agent pursuant to the advice of the Agent’s own attorneys shall be conclusive evidence of such good faith. The Agent
may rely upon any letter, notice or other document executed by any signature purporting to be genuine and may resign at any time.

 

    7 

     

    

 

8.2             
Establishment of Escrow. The Participant authorizes the Company to deposit the Unvested
Shares with the Company’s transfer agent to be held in book entry form, as provided by Section 4.3, and the Participant
agrees to deliver to and deposit with the Agent each certificate, if any, evidencing the Shares and an Assignment Separate from
Certificate with respect to such book entry shares and each such certificate duly endorsed (with date and number of Shares blank)
in the form attached to this Agreement, to be held by the Agent under the terms and conditions of this Section (the “Escrow”).
Upon the occurrence of an Ownership Change Event, a dividend or distribution to the stockholders of the Company paid in shares
of Stock or other property (other than regular, periodic dividends paid on Stock pursuant to the Company’s dividend policy),
or any other adjustment upon a change in the capital structure of the Company, as described in Section 10, any and all new, substituted
or additional securities or other property to which the Participant is entitled by reason of his or her ownership of the Shares
that remain, following such Ownership Change Event, dividend, distribution or change described in Section 10, subject to the Company
Reacquisition Right shall be immediately subject to the Escrow to the same extent as the Shares immediately before such event.
The Company shall bear the expenses of the Escrow.

 

8.3             
Delivery of Shares to Participant. The Escrow shall continue with respect to any Shares
for so long as such Shares remain subject to the Company Reacquisition Right. Upon termination of the Company Reacquisition Right
with respect to Shares, the Company shall so notify the Agent and direct the Agent to deliver such number of Shares to the Participant.
As soon as practicable after receipt of such notice, the Agent shall cause the Shares specified by such notice to be delivered
to the Participant, and the Escrow shall terminate with respect to such Shares.

 

8.4             
Notices and Payments. In the event the Shares and any other property held in escrow
are subject to the Company’s exercise of the Company Reacquisition Right or the Right of First Refusal, the notices required
to be given to the Participant shall be given to the Agent, and any payment required to be given to the Participant shall be given
to the Agent. Within thirty (30) days after payment by the Company, the Agent shall deliver the Shares and any other property
which the Company has purchased to the Company and shall deliver the payment received from the Company to the Participant.

 

9.                 
Effect of Change in Control.

 

In
the event of a Change in Control, except to the extent that the Board determines to settle the Award in accordance with Section
9.1(c) of the Plan, the surviving, continuing, successor, or purchasing corporation or other business entity or parent thereof,
as the case may be (the “Acquiror”), may, without the consent of the Participant, assume or continue
in full force and effect the Company’s rights and obligations under the Award or substitute for the Award a substantially
equivalent award for the Acquiror’s stock. For purposes of this Section, the Award shall be deemed assumed if, following
the Change in Control, the Award confers the right to receive, subject to the terms and conditions of the Plan and this Agreement,
for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, other
securities or property or a combination thereof) to which a holder of a share of Stock on the effective date of the Change in
Control was entitled. Notwithstanding the foregoing, Shares acquired pursuant to the Award prior to the Change in Control and
any consideration received pursuant to the Change in Control with respect to such shares shall continue to be subject to all applicable
provisions of this Agreement except as otherwise provided herein.

 

    8 

     

    

 

10.             
Adjustments for Changes in Capital Structure.

 

Subject
to any required action by the stockholders of the Company, in the event of any change in the Stock effected without receipt of
consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification,
stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares, or
similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders
of the Company in a form other than Stock (excepting regular, periodic cash dividends) that has a material effect on the Fair
Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number and kind of shares of stock
or other property subject to the Award, in order to prevent dilution or enlargement of the Participant’s rights under the
Award. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected
without receipt of consideration by the Company.” Any and all new, substituted or additional securities or other property
to which Participant is entitled by reason of ownership of Shares acquired pursuant to this Award will be immediately subject
to the provisions of this Award on the same basis as all Shares originally acquired hereunder. Any fractional share resulting
from an adjustment pursuant to this Section shall be rounded down to the nearest whole number. Such adjustments shall be determined
by the Board, and its determination shall be final, binding and conclusive.

 

11.             
Rights as a Stockholder, Director, Employee or Consultant.

 

The
Participant shall have no rights as a stockholder with respect to any Shares subject to the Award until the date of 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 adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the date
the Shares are issued, except as provided in Section 10. Subject to the provisions of this Agreement, the Participant shall exercise
all rights and privileges of a stockholder of the Company with respect to Shares deposited in the Escrow pursuant to Section 8.
If the Participant is an Employee, the Participant understands and acknowledges that, except as otherwise provided in a separate,
written employment agreement between a Participating Company and the Participant, the Participant’s employment is “at
will” and is for no specified term. Nothing in this Agreement shall confer upon the Participant any right to continue in
the Service of a Participating Company or interfere in any way with any right of the Participating Company Group to terminate
the Participant’s Service, as the case may be, at any time.

 

    9 

     

    

 

12.             
Legends.

 

The
Company may at any time place legends referencing the Company Reacquisition Right, Right of First Refusal and any applicable federal,
state or foreign securities law restrictions on all certificates representing Shares. The Participant shall, at the request of
the Company, promptly present to the Company any and all certificates representing Shares in the possession of the Participant
in order to carry out the provisions of this Section. Unless otherwise specified by the Company, legends placed on such certificates
may include, but shall not be limited to, the following:

 

12.1         
“THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 OR RULE 701 UNDER THE ACT, OR
THE COMPANY RECEIVES AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT
OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.”

 

12.2         
“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON
TRANSFER AND REPURCHASE OPTIONS IN FAVOR OF THE CORPORATION OR ITS ASSIGNEE SET FORTH IN AN AGREEMENT BETWEEN THE CORPORATION
AND THE REGISTERED HOLDER, OR SUCH HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE
OF THIS CORPORATION.”

 

13.             
Lock-Up Agreement.

 

The
Participant hereby agrees that in the event of any underwritten public offering of stock, including an initial public offering
of stock, made by the Company pursuant to an effective registration statement filed under the Securities Act, the Participant
shall not offer, sell, contract to sell, pledge, hypothecate, grant any option to purchase or make any short sale of, or otherwise
dispose of any shares of stock of the Company or any rights to acquire stock of the Company for such period of time from and after
the effective date of such registration statement as may be established by the underwriter for such public offering; provided,
however, that such period of time shall not exceed one hundred eighty (180) days from the effective date of the registration statement
to be filed in connection with such public offering; provided, further, however, that such one hundred eighty (180) day period
may be extended for an additional period, not to exceed twenty (20) days, upon the request of the Company or the underwriter 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). The foregoing limitation shall not apply to shares registered in the public offering
under the Securities Act. The Participant hereby agrees to enter into any agreement reasonably required by the underwriters to
implement the foregoing within a reasonable timeframe if so requested by the Company.

 

    10 

     

    

 

14.             
Transfers in Violation of Agreement.

 

No
Shares may be sold, exchanged, transferred, assigned, pledged, hypothecated or otherwise disposed of, including by operation of
law, in any manner which violates any of the provisions of this Agreement and, except pursuant to an Ownership Change Event, until
the date on which such shares become Vested Shares, and any such attempted disposition shall be void. The Company shall not be
required (a) to transfer on its books any Shares which will have been transferred in violation of any of the provisions set forth
in this Agreement or (b) to treat as owner of such Shares or to accord the right to vote as such owner or to pay dividends to
any transferee to whom such Shares will have been so transferred. In order to enforce its rights under this Section, the Company
shall be authorized to give a stop transfer instruction with respect to the Shares to the Company’s transfer agent.

 

15.             
Miscellaneous Provisions.

 

15.1         
Termination or Amendment. The Board may terminate or amend the Plan or this Agreement
at any time; provided, however, that no such termination or amendment may adversely affect the Participant’s rights under
this Agreement without the consent of the Participant, unless such termination or amendment is necessary to comply with any applicable
law or government regulation. No amendment or addition to this Agreement shall be effective unless in writing.

 

15.2         
Nontransferability of the Award. The right to acquire Shares pursuant to the Award
shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or
garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of
descent and distribution. All rights with respect to the Award shall be exercisable during the Participant’s lifetime only
by the Participant or the Participant’s guardian or legal representative.

 

15.3         
Further Instruments. The parties hereto agree to execute such further instruments
and to take such further action as may reasonably be necessary to carry out the intent of this Agreement.

 

15.4         
Binding Effect. This Agreement shall inure to the benefit of the successors and assigns
of the Company and, subject to the restrictions on transfer set forth herein, be binding upon the Participant and the Participant’s
heirs, executors, administrators, successors and assigns.

 

15.5         
Delivery of Documents and Notices. Any document relating to participation in the Plan,
or any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given (except to the extent
that this Agreement provides for effectiveness only upon actual receipt of such notice) upon personal delivery, electronic delivery
at the e-mail address, if any, provided for the Participant by a Participating Company, or upon deposit in the U.S. Post Office
or foreign postal service, by registered or certified mail, or with a nationally recognized overnight courier service, with postage
and fees prepaid, addressed to the other party at the address of such party set forth in the Grant Notice or at such other address
as such party may designate in writing from time to time to the other party.

 

    11 

     

    

 

(a)              
Description of Electronic Delivery. The Plan documents, which may include but
do not necessarily include: the Plan, the Grant Notice, this Agreement, and any reports of the Company provided generally to the
Company’s stockholders, may be delivered to the Participant electronically. In addition, if permitted by the Company, the
Participant may deliver electronically the Grant Notice to the Company or to such third party involved in administering the Plan
as the Company may designate from time to time. Such means of electronic delivery may include but do not necessarily include the
delivery of a link to a Company intranet or the Internet site of a third party involved in administering the Plan, the delivery
of the document via e-mail or such other means of electronic delivery specified by the Company.

 

(b)              
Consent to Electronic Delivery. The Participant acknowledges that the Participant
has read Section 15.5(a) of this Agreement and consents to the electronic delivery of the Plan documents and, if permitted by
the Company, the delivery of the Grant Notice and notices in connection with the Escrow, as described in Section 15.5(a). The
Participant acknowledges that he or she may receive from the Company a paper copy of any documents delivered electronically at
no cost to the Participant by contacting the Company by telephone or in writing. The Participant further acknowledges that the
Participant will be provided with a paper copy of any documents if the attempted electronic delivery of such documents fails.
Similarly, the Participant understands that the Participant must provide the Company or any designated third party administrator
with a paper copy of any documents if the attempted electronic delivery of such documents fails. The Participant may revoke his
or her consent to the electronic delivery of documents described in Section 15.5(a) or may change the electronic mail address
to which such documents are to be delivered (if Participant has provided an electronic mail address) at any time by notifying
the Company of such revoked consent or revised e-mail address by telephone, postal service or electronic mail. Finally, the Participant
understands that he or she is not required to consent to electronic delivery of documents described in Section 15.5(a).

 

15.6         
Integrated Agreement. The Grant Notice, this Agreement and the Plan, together with
any employment, service or other agreement between the Participant and a Participating Company referring to the Award, shall constitute
the entire understanding and agreement of the Participant and the Participating Company Group with respect to the subject matter
contained herein or therein and supersede any prior agreements, understandings, restrictions, representations, or warranties among
the Participant and the Participating Company Group with respect to such subject matter. To the extent contemplated herein or
therein, the provisions of the Grant Notice, this Agreement and the Plan shall survive any settlement of the Award and shall remain
in full force and effect.

 

15.7         
Applicable Law. The Agreement shall be governed by the laws of the State of Delaware
as such laws are applied to agreements between Delaware residents entered into and to be performed entirely within the State of
Delaware.

 

15.8         
Counterparts. The Grant Notice may be executed in counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument.

 

    12 

     

    

 

ASSIGNMENT
SEPARATE FROM CERTIFICATE

 

 

 

FOR
VALUE RECEIVED the undersigned does hereby sell, assign and transfer unto

 

 

________________________________________________
(____________) shares of the Capital Stock of Olema Pharmaceuticals, Inc., a Delaware corporation, standing in the undersigned’s
name on the books of said corporation represented by Certificate No. ____________ herewith and does hereby irrevocably constitute
and appoint ________________________ ____________ Attorney to transfer the said stock on the books of said corporation with full
power of substitution in the premises.

 

Dated:________________________

 

 

	 	Signature
	 
	 	Print Name

 

Instructions:
Please do not fill in any blanks other than the signature line. The purpose of this assignment is to enable the Company to exercise
its Company Reacquisition Right set forth in the Restricted Stock Agreement without requiring additional signatures on the part
of the Participant.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00316-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00316-of-00352.parquet"}]]