Document:

EX-10.8

 Exhibit 10.8

INHIBRX, INC. 
 AMENDED
AND RESTATED 2017 EMPLOYEE, DIRECTOR AND CONSULTANT 
 EQUITY INCENTIVE PLAN 

 

	 	1.	 DEFINITIONS. 

Unless otherwise specified or unless the context otherwise requires, the following terms, as used in this Inhibrx, Inc. Amended
and Restated 2017 Employee, Director and Consultant Equity Incentive Plan, have the following meanings: 

Administrator means the Board of Directors, unless it has delegated power to act on its behalf to the Committee, in
which case the term Administrator means the Committee. 
 Affiliate means a corporation or other entity which, for
purposes of Section 424 of the Code, is a parent or subsidiary of the Company, direct or indirect. 
 Agreement
means a written or electronic document setting forth the terms of a Stock Right delivered pursuant to the Plan, in such form as the Administrator shall approve. 

Board of Directors means the Board of Directors of the Company. 

California Participant means a Participant who resides in the State of California. 

Cause means, with respect to a Participant (a) dishonesty with respect to the Company or any Affiliate,
(b) insubordination, substantial malfeasance or non-feasance of duty, (c) unauthorized disclosure of confidential information, (d) breach by a Participant of any provision of any employment,
consulting, advisory, nondisclosure, non-competition or similar agreement between the Participant and the Company or any Affiliate, and (e) conduct substantially prejudicial to the business of the Company
or any Affiliate; provided, however, that any provision in an agreement between a Participant and the Company or an Affiliate, which contains a conflicting definition of Cause for termination and which is in effect at the time of such termination,
shall supersede this definition with respect to that Participant. The determination of the Administrator as to the existence of Cause will be conclusive on the Participant and the Company. 

Code means the United States Internal Revenue Code of 1986, as amended including any successor statute, regulation and
guidance thereto. 
 Committee means the committee of the Board of Directors to which the Board of Directors has
delegated power to act under or pursuant to the provisions of the Plan.  

Common Stock means shares of the Company’s common stock, $0.0001 par value per share. 

Company means Inhibrx, Inc., a Delaware corporation. 

Consultant means any natural person who is an advisor or consultant who provides bona fide services to the Company or
its Affiliates, provided that such services are not in connection with the offer or sale of securities in a capital raising transaction, and do not directly or indirectly promote or maintain a market for the Company’s or its Affiliates’
securities. 
 Corporate Transaction means a merger, consolidation, or sale of all or substantially all of the
Company’s assets or the acquisition of all of the outstanding voting stock of the Company in a single transaction or a series of related transactions by a single entity other than a transaction to merely change the state of incorporation. 

  
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 Disability or Disabled means permanent and total disability as
defined in Section 22(e)(3) of the Code. 
 Employee means any employee of the Company or of an Affiliate
(including, without limitation, an employee who is also serving as an officer or director of the Company or of an Affiliate), designated by the Administrator to be eligible to be granted one or more Stock Rights under the Plan. 

Exchange Act means the United States Securities Exchange Act of 1934, as amended. 

Fair Market Value of a Share of Common Stock means: 

(1) If the Common Stock is listed on a national securities exchange or traded in the over-the-counter market and sales prices are regularly reported for the Common Stock, the closing or, if not applicable, the last price of the Common Stock on the composite
tape or other comparable reporting system for the trading day on the applicable date and if such applicable date is not a trading day, the last market trading day prior to such date; 

(2) If the Common Stock is not traded on a national securities exchange but is traded on the over-the-counter market, if sales prices are not regularly reported for the Common Stock for the trading day referred to in clause (1), and if bid and asked prices for
the Common Stock are regularly reported, the mean between the bid and the asked price for the Common Stock at the close of trading in the over-the-counter market for the
most recent trading day on which Common Stock was traded on the applicable date and if such applicable date is not a trading day, the last market trading day prior to such date; and 

(3) If the Common Stock is neither listed on a national securities exchange nor traded in the over-the-counter market, such value as the Administrator, in good faith, shall determine in compliance with applicable laws. 

ISO means an option intended to qualify as an incentive stock option under Section 422 of the Code. 

Non-Qualified Option means an option which is not intended to qualify as
an ISO. 
 Option means an ISO or Non-Qualified Option granted under the Plan.

 Participant means an Employee, director or Consultant of the Company or an Affiliate to whom one or more Stock
Rights are granted under the Plan. As used herein, “Participant” shall include “Participant’s Survivors” where the context requires. 

Performance-Based Award means a Stock Grant or Stock-Based Award which vests based on the attainment of written
Performance Goals as set forth in Paragraph 9 hereof. 
 Performance Goals means performance goals determined by the
Committee in its sole discretion and set forth in an Agreement. The satisfaction of Performance Goals shall be subject to certification by the Committee. The Committee has the authority to take appropriate action with respect to the Performance
Goals (including, without limitation, making adjustments to the Performance Goals or determining the satisfaction of the Performance Goals in connection with a Corporate Transaction) provided that any such action does not otherwise violate the terms
of the Plan. 
 Plan means this Inhibrx, Inc. Amended and Restated 2017 Employee, Director and Consultant Equity
Incentive Plan. 
 Securities Act means the United States Securities Act of 1933, as amended. 

  
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 Shares means shares of the Common Stock as to which Stock Rights have
been or may be granted under the Plan or any shares of capital stock into which the Shares are changed or for which they are exchanged within the provisions of Paragraph 3 of the Plan. The Shares issued under the Plan may be authorized and
unissued shares or shares held by the Company in its treasury, or both. 
 Stock-Based Award means a grant by the
Company under the Plan of an equity award or an equity based award which is not an Option or a Stock Grant. 
 Stock
Grant means a grant by the Company of Shares under the Plan. 
 Stock Right means a right to Shares or the value
of Shares of the Company granted pursuant to the Plan – an ISO, a Non-Qualified Option, a Stock Grant or a Stock-Based Award. 

Survivor means a deceased Participant’s legal representatives and/or any person or persons who acquired the
Participant’s rights to a Stock Right by will or by the laws of descent and distribution. 
  

	 	2.	 PURPOSES OF THE PLAN. 

The Plan is intended to encourage ownership of Shares by Employees and directors of and certain Consultants to the Company and
its Affiliates in order to attract and retain such people, to induce them to work for the benefit of the Company or of an Affiliate and to provide additional incentive for them to promote the success of the Company or of an Affiliate. The Plan
provides for the granting of ISOs, Non-Qualified Options, Stock Grants and Stock-Based Awards. 
  

	 	3.	 SHARES SUBJECT TO THE PLAN. 

(a) The number of Shares which may be issued from time to time pursuant to this Plan shall be 4,000,000 shares of Common Stock
or the equivalent of such number of Shares after the Administrator, in its sole discretion, has interpreted the effect of any stock split, stock dividend, combination, recapitalization or similar transaction in accordance with Paragraph 25 of the
Plan. 
 (b) Notwithstanding Subparagraph (a) above, on the first day of each fiscal year of the Company during the
period beginning in fiscal year 2019, and ending on the second day of fiscal year 2028, the number of Shares that may be issued from time to time pursuant to the Plan, shall be increased by an amount equal to the lesser of (i) 4,000,000 or the
equivalent of such number of Shares after the Administrator, in its sole discretion, has interpreted the effect of any stock split, stock dividend, combination, recapitalization or similar transaction in accordance with Paragraph 24 of the Plan;
(ii) 4% of the number of outstanding shares of Common Stock on such date; and (iii) an amount determined by the Administrator. However, in no event shall the number of Shares available for issuance under this Plan be increased as set forth in
this Subparagraph (b) to the extent such increase, in addition to any other increases proposed by the Board in the number of shares of Common Stock available for issuance under all other employee or director stock plans, including, without
limitation, employee stock purchase plans, would result in the total number of shares of Common Stock then available for issuance under all employee and director stock plans exceeding 25% of the outstanding shares of the Company on the first day of
the applicable fiscal year. 
 (c) If an Option ceases to be “outstanding”, in whole or in part (other than by
exercise), or if the Company shall reacquire (at not more than its original issuance price) any Shares issued pursuant to a Stock Grant or Stock-Based Award, or if any Stock Right expires or is forfeited, cancelled, or otherwise terminated or
results in any Shares not being issued, the unissued or reacquired Shares which were subject to such Stock Right shall again be available for issuance from time to time pursuant to this Plan. Notwithstanding the foregoing, if a Stock Right is
exercised, in whole or in part, by tender or withholding of Shares or if the Company or an Affiliate’s tax withholding obligation is satisfied by the tender or withholding of Shares, the number of Shares deemed to have been issued under the
Plan for purposes of the limitation set forth in Paragraph 3(a) above shall be the number of Shares that were subject to the Stock Right or portion thereof, and not the net number of Shares actually issued. In addition, Shares repurchased by the
Company with the proceeds of the option exercise price may not be reissued under the Plan. However, in the case of ISOs, the foregoing provisions shall be subject to any limitations under the Code. 

  
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	 	4.	 ADMINISTRATION OF THE PLAN. 

The Administrator of the Plan will be the Board of Directors, except to the extent the Board of Directors delegates its
authority to the Committee, in which case the Committee shall be the Administrator. Subject to the provisions of the Plan, the Administrator is authorized to: 

(a) Interpret the provisions of the Plan and all Stock Rights and to make all rules and determinations which it deems necessary
or advisable for the administration of the Plan; 
 (b) Determine which Employees, directors and Consultants shall be granted
Stock Rights; 
 (c) Determine the number of Shares for which a Stock Right or Stock Rights shall be granted, provided
however that in no event shall Stock Rights to be granted to any non-employee director under the Plan in any calendar year exceed 30,000 Shares, except that the foregoing limitation shall not apply to awards
granted (i) pursuant to an election by a non-employee director to receive the award in lieu of cash for all or a portion of cash fees to be received for service on the Board or any Committee thereof or
(ii) in connection with a non-employee director initially joining the Board of Directors; 

(d) Specify the terms and conditions upon which a Stock Right or Stock Rights may be granted; 

(e) Amend any term or condition of any outstanding Stock Right, including, without limitation, to reduce or increase the
exercise price or purchase price, accelerate the vesting schedule or extend the expiration date, provided that (i) such term or condition as amended is permitted by the Plan; (ii) any such amendment shall not impair the rights of a
Participant under any Stock Right previously granted without such Participant’s consent or in the event of death of the Participant the Participant’s Survivors; and (iii) any such amendment shall be made only after the Administrator
determines whether such amendment would cause any adverse tax consequences to the Participant, including, but not limited to, the annual vesting limitation contained in Section 422(d) of the Code and described in Paragraph 6(b)(iv) below with
respect to ISOs and pursuant to Section 409A of the Code; 
 (f) Determine and make any adjustments in the Performance
Goals included in any Performance-Based Awards; and 
 (g) Adopt any sub-plans
applicable to residents of any specified jurisdiction as it deems necessary or appropriate in order to comply with or take advantage of any tax or other laws applicable to the Company, any Affiliate or to Participants or to otherwise facilitate the
administration of the Plan, which sub-plans may include additional restrictions or conditions applicable to Stock Rights or Shares issuable pursuant to a Stock Right; provided, however, that all such
interpretations, rules, determinations, terms and conditions shall be made and prescribed in the context of not causing any adverse tax consequences under Section 409A of the Code and preserving the tax status under Section 422 of the Code
of those Options which are designated as ISOs. Subject to the foregoing, the interpretation and construction by the Administrator of any provisions of the Plan or of any Stock Right granted under it shall be final, unless otherwise determined by the
Board of Directors, if the Administrator is the Committee. In addition, if the Administrator is the Committee, the Board of Directors may take any action under the Plan that would otherwise be the responsibility of the Committee. 

To the extent permitted under applicable law, the Board of Directors or the Committee may allocate all or any portion of its
responsibilities and powers to any one or more of its members and may delegate all or any portion of its responsibilities and powers to any other person selected by it. The Board of Directors or the Committee may revoke any such allocation or
delegation at any time. Notwithstanding the foregoing, only the Board of Directors or the Committee shall be authorized to grant a Stock Right to any director of the Company or to any “officer” of the Company as defined by Rule 16a-1 under the Exchange Act. 
  

	 	5.	 ELIGIBILITY FOR PARTICIPATION. 

The Administrator will, in its sole discretion, name the Participants in the Plan; provided, however, that each Participant
must be an Employee, director or Consultant of the Company or of an Affiliate at the time a Stock Right 

  
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is granted. Notwithstanding the foregoing, the Administrator may authorize the grant of a Stock Right to a person not then an Employee, director or Consultant of the Company or of an Affiliate;
provided, however, that the actual grant of such Stock Right shall be conditioned upon such person becoming eligible to become a Participant at or prior to the time of the execution of the Agreement evidencing such Stock Right. ISOs may be granted
only to Employees who are deemed to be residents of the United States for tax purposes. Non-Qualified Options, Stock Grants and Stock-Based Awards may be granted to any Employee, director or Consultant of the
Company or an Affiliate. The granting of any Stock Right to any individual shall neither entitle that individual to, nor disqualify him or her from, participation in any other grant of Stock Rights or any grant under any other benefit plan
established by the Company or any Affiliate for Employees, directors or Consultants. 
  

	 	6.	 TERMS AND CONDITIONS OF OPTIONS. 

Each Option shall be set forth in an Option Agreement, duly executed by the Company and, to the extent required by law or
requested by the Company, by the Participant. The Administrator may provide that Options be granted subject to such terms and conditions, consistent with the terms and conditions specifically required under this Plan, as the Administrator may deem
appropriate including, without limitation, subsequent approval by the shareholders of the Company of this Plan or any amendments thereto. The Option Agreements shall be subject to at least the following terms and conditions: 

(a) Non-Qualified Options: Each Option intended to be a Non-Qualified Option shall be subject to the terms and conditions which the Administrator determines to be appropriate and in the best interest of the Company, subject to the following minimum standards for any such
Non-Qualified Option: 
  

	 	(i)	 Exercise Price: Each Option Agreement shall state the exercise price (per share) of the Shares
covered by each Option, which exercise price shall be determined by the Administrator and shall be at least equal to the Fair Market Value per share of the Common Stock on the date of grant of the Option. 

 

	 	(ii)	 Number of Shares: Each Option Agreement shall state the number of Shares to which it pertains.

  

	 	(iii)	 Option Vesting Periods: Each Option Agreement shall state the date or dates on which it first is
exercisable and the date after which it may no longer be exercised, and may provide that the Option rights accrue or become exercisable in installments over a period of months or years, or upon the occurrence of certain performance conditions or the
attainment of stated goals or events. For California Participants, the exercise period of the Option set forth in the Option Agreement shall not be more than 120 months from the date of grant. 

 

	 	(iv)	 Additional Conditions: Exercise of any Option may be conditioned upon the Participant’s
execution of a shareholders agreement in a form satisfactory to the Administrator providing for certain protections for the Company and its other shareholders, including requirements that: 

 

	 	A.	 The Participant’s or the Participant’s Survivors’ right to sell or transfer the Shares may be
restricted; and 

  

	 	B.	 The Participant or the Participant’s Survivors may be required to execute letters of investment intent
and must also acknowledge that the Shares will bear legends noting any applicable restrictions. 

  

	 	(v)	 Term of Option: Each Option shall terminate not more than ten years from the date of the grant or at
such earlier time as the Option Agreement may provide. 

 (b) ISOs: Each Option intended to be an
ISO shall be issued only to an Employee who is deemed to be a resident of the United States for tax purposes, and shall be subject to the following terms and conditions, with such 

  
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additional restrictions or changes as the Administrator determines are appropriate but not in conflict with Section 422 of the Code and relevant regulations and rulings of the Internal
Revenue Service: 
  

	 	(i)	 Minimum Standards: The ISO shall meet the minimum standards required of Non-Qualified Options, as described in Paragraph 6(a) above, except subsections (i) and (v) thereunder. 

  

	 	(ii)	 Exercise Price: Immediately before the ISO is granted, if the Participant owns, directly or by reason
of the applicable attribution rules in Section 424(d) of the Code: 

  

	 	A.	 10% or less of the total combined voting power of all classes of stock of the Company or an
Affiliate, the exercise price per share of the Shares covered by each ISO shall not be less than 100% of the Fair Market Value per share of the Common Stock on the date of grant of the Option; or 

 

	 	B.	 More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate, the
exercise price per share of the Shares covered by each ISO shall not be less than 110% of the Fair Market Value per share of the Common Stock on the date of grant of the Option. 

 

	 	(iii)	 Term of Option: For Participants who own: 

 

	 	A.	 10% or less of the total combined voting power of all classes of stock of the Company or an
Affiliate, each ISO shall terminate not more than ten years from the date of the grant or at such earlier time as the Option Agreement may provide; or 

  

	 	B.	 More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate,
each ISO shall terminate not more than five years from the date of the grant or at such earlier time as the Option Agreement may provide. 

  

	 	(iv)	 Limitation on Yearly Exercise: The Option Agreements shall restrict the amount of ISOs which may
become exercisable in any calendar year (under this or any other ISO plan of the Company or an Affiliate) so that the aggregate Fair Market Value (determined on the date each ISO is granted) of the stock with respect to which ISOs are exercisable
for the first time by the Participant in any calendar year does not exceed $100,000. 

  

	 	7.	 TERMS AND CONDITIONS OF STOCK GRANTS. 

Each Stock Grant to a Participant shall state the principal terms in an Agreement duly executed by the Company and, to the
extent required by law or requested by the Company, by the Participant. For California Participants, each Stock Grant shall be issued within ten years from the earlier of the date the Plan is adopted or approved by the Company’s shareholders.
The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator determines to be appropriate and in the best interest of the Company, subject to the following minimum standards: 

(a) Each Agreement shall state the purchase price per share, if any, of the Shares covered by each Stock Grant, which purchase
price shall be determined by the Administrator but shall not be less than the minimum consideration required by the Delaware General Corporation Law, if any, on the date of the grant of the Stock Grant; 

(b) Each Agreement shall state the number of Shares to which the Stock Grant pertains; and 

(c) Each Agreement shall include the terms of any right of the Company to restrict or reacquire the Shares subject to the Stock
Grant, including the time period or attainment of Performance Goals or such other performance criteria upon which such rights shall accrue and the purchase price therefor, if any; and 

  
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 (d) Dividends (other than stock dividends to be issued pursuant to Paragraph
25 of the Plan) may accrue but shall not be paid prior to the time, and may be paid only to the extent that, the restrictions or rights to reacquire the Shares subject to the Stock Grant lapse. 

 

	 	8.	 TERMS AND CONDITIONS OF OTHER STOCK-BASED AWARDS.  

The Administrator shall have the right to grant other Stock-Based Awards based upon the Common Stock having such terms and
conditions as the Administrator may determine, including, without limitation, the grant of Shares based upon certain conditions, the grant of securities convertible into Shares and the grant of stock appreciation rights, phantom stock awards or
stock units. The principal terms of each Stock-Based Award shall be set forth in an Agreement, duly executed by the Company and, to the extent required by law or requested by the Company, by the Participant. The Agreement shall be in a form approved
by the Administrator and shall contain terms and conditions which the Administrator determines to be appropriate and in the best interest of the Company. Each Agreement shall include the terms of any right of the Company including the right to
terminate the Stock-Based Award without the issuance of Shares, the terms of any vesting conditions, Performance Goals or events upon which Shares shall be issued; provided that dividends (other than stock dividends to be issued pursuant to
Section 25 of the Plan) or dividend equivalents may accrue but shall not be paid prior to and may be paid only to the extent that, the Shares subject to the Stock-Based Award vest. Under no circumstances may the Agreement covering stock
appreciation rights (a) have an exercise or base price (per share) that is less than the Fair Market Value per share of Common Stock on the date of grant or (b) expire more than ten years following the date of grant. 

The Company intends that the Plan and any Stock-Based Awards granted hereunder be exempt from the application of
Section 409A of the Code or meet the requirements of paragraphs (2), (3) and (4) of subsection (a) of Section 409A of the Code, to the extent applicable, and be operated in accordance with Section 409A so that any
compensation deferred under any Stock-Based Award (and applicable investment earnings) shall not be included in income under Section 409A of the Code. Any ambiguities in the Plan shall be construed to effect the intent as described in this
Paragraph 8. 
  

	 	9.	 PERFORMANCE-BASED AWARDS. 

The Committee shall determine whether, with respect to a performance period, the applicable Performance Goals have been met
with respect to a given Participant and, if they have, to so certify and ascertain the amount of the applicable Performance-Based Award. No Performance-Based Awards will be issued for such performance period until such certification is made by the
Committee. The number of Shares issued in respect of a Performance-Based Award determined by the Committee for a performance period shall be paid to the Participant at such time as determined by the Committee in its sole discretion after the end of
such performance period, and any dividends (other than stock dividends to be issued pursuant to Section 25 of the Plan) or dividend equivalents that accrue shall only be paid in respect of the number of Shares earned in respect of such
Performance-Based Award. 
  

	 	10.	 EXERCISE OF OPTIONS AND ISSUE OF SHARES. 

An Option (or any part or installment thereof) shall be exercised by giving written notice to the Company or its designee (in a
form acceptable to the Administrator, which may include electronic notice), together with provision for payment of the aggregate exercise price in accordance with this Paragraph for the Shares as to which the Option is being exercised, and upon
compliance with any other condition(s) set forth in the Option Agreement. Such notice shall be signed by the person exercising the Option (which signature may be provided electronically in a form acceptable to the Administrator), shall state the
number of Shares with respect to which the Option is being exercised and shall contain any representation required by the Plan or the Option Agreement. Payment of the exercise price for the Shares as to which such Option is being exercised shall be
made (a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through delivery of shares of Common Stock held for at least six months (if required to avoid negative accounting treatment) having a
Fair Market Value equal as of the date of the exercise to the aggregate cash exercise price for the number of Shares as to which the Option is being exercised, or (c) at the discretion of the Administrator, by having the Company retain from the
Shares otherwise issuable upon exercise of the Option, a number of Shares having a Fair Market Value equal as of the date of exercise to the aggregate exercise price for the number of Shares as to which the Option is being exercised, or (d) at
the discretion of the Administrator, in accordance with a cashless exercise program established with a securities brokerage firm, and approved by the 

  
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Administrator, or (e) at the discretion of the Administrator, by any combination of (a), (b), (c) and (d) above or (f) at the discretion of the Administrator, by payment of such
other lawful consideration as the Administrator may determine. Notwithstanding the foregoing, the Administrator shall accept only such payment on exercise of an ISO as is permitted by Section 422 of the Code. 

The Company shall then reasonably promptly deliver the Shares as to which such Option was exercised to the Participant (or to
the Participant’s Survivors, as the case may be). In determining what constitutes “reasonably promptly,” it is expressly understood that the issuance and delivery of the Shares may be delayed by the Company in order to comply with any
law or regulation (including, without limitation, state securities or “blue sky” laws) which requires the Company to take any action with respect to the Shares prior to their issuance. The Shares shall, upon delivery, be fully paid, non-assessable Shares. 
  

	 	11.	 PAYMENT IN CONNECTION WITH THE ISSUANCE OF STOCK GRANTS AND STOCK-BASED AWARDS AND ISSUE OF SHARES.

 Any Stock Grant or Stock-Based Award requiring payment of a purchase price for the Shares as to which
such Stock Grant or Stock-Based Award is being granted shall be made (a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through delivery of shares of Common Stock held for at least six months
(if required to avoid negative accounting treatment) and having a Fair Market Value equal as of the date of payment to the purchase price of the Stock Grant or Stock-Based Award, or (c) at the discretion of the Administrator, by any combination
of (a) and (b) above; or (d) at the discretion of the Administrator, by payment of such other lawful consideration as the Administrator may determine. 

The Company shall when required by the applicable Agreement, reasonably promptly deliver the Shares as to which such Stock
Grant or Stock-Based Award was made to the Participant (or to the Participant’s Survivors, as the case may be), subject to any escrow provision set forth in the applicable Agreement. In determining what constitutes “reasonably
promptly,” it is expressly understood that the issuance and delivery of the Shares may be delayed by the Company in order to comply with any law or regulation (including, without limitation, state securities or “blue sky” laws) which
requires the Company to take any action with respect to the Shares prior to their issuance. 
  

	 	12.	 RIGHTS AS A SHAREHOLDER. 

No Participant to whom a Stock Right has been granted shall have rights as a shareholder with respect to any Shares covered by
such Stock Right except after due exercise of an Option or issuance of Shares as set forth in any Agreement, tender of the aggregate exercise or purchase price, if any, for the Shares being purchased and registration of the Shares in the
Company’s share register in the name of the Participant. 
  

	 	13.	 ASSIGNABILITY AND TRANSFERABILITY OF STOCK RIGHTS. 

By its terms, a Stock Right granted to a Participant shall not be transferable by the Participant other than (i) by will
or by the laws of descent and distribution, or (ii) as approved by the Administrator in its discretion and set forth in the applicable Agreement provided that no Stock Right may be transferred by a Participant for value. For California
Participants, Stock Rights shall not be transferable by the Participant other than by will or by the laws of descent and distribution, to a revocable trust, or as permitted by Rule 701 of the Securities Act. Notwithstanding the foregoing, an ISO
transferred except in compliance with clause (i) above shall no longer qualify as an ISO. The designation of a beneficiary of a Stock Right by a Participant, with the prior approval of the Administrator and in such form as the Administrator
shall prescribe, shall not be deemed a transfer prohibited by this Paragraph. Except as provided above during the Participant’s lifetime a Stock Right shall only be exercisable by or issued to such Participant (or his or her legal
representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation
or other disposition of any Stock Right or of any rights granted thereunder contrary to the provisions of this Plan, or the levy of any attachment or similar process upon a Stock Right, shall be null and void. 

  
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	 	14.	 EFFECT ON OPTIONS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE OR DEATH OR DISABILITY.

 Except as otherwise provided in a Participant’s Option Agreement, in the event of a termination of
service (whether as an Employee, director or Consultant) with the Company or an Affiliate before the Participant has exercised an Option, the following rules apply: 

(a) A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate (for any reason other
than termination for Cause, Disability, or death for which events there are special rules in Paragraphs 15, 16, and 17, respectively), may exercise any Option granted to him or her to the extent that the Option is exercisable on the date of such
termination of service, but only within such term as the Administrator has designated in a Participant’s Option Agreement. For Options granted to California Participants, notwithstanding the terms of any Option Agreement, such Option shall be
exercisable for at least 30 days from the date of a Participant’s termination of employment other than for Cause, but in no event later than the originally prescribed term of the Option. 

(b) Except as provided in Subparagraph (c) below, or Paragraph 16 or 17, in no event may an Option intended to be an ISO
be exercised later than three months after the Participant’s termination of employment. 
 (c) The provisions of this
Paragraph, and not the provisions of Paragraph 16 or 17, shall apply to a Participant who subsequently becomes Disabled or dies after the termination of employment, director status or consultancy; provided, however, in the case of a
Participant’s Disability or death within three months after the termination of employment, director status or consultancy, the Participant or the Participant’s Survivors may exercise the Option within one year after the date of the
Participant’s termination of service, but in no event after the date of expiration of the term of the Option. 
 (d)
Notwithstanding anything herein to the contrary, if subsequent to a Participant’s termination of employment, termination of director status or termination of consultancy, but prior to the exercise of an Option, the Administrator determines
that, either prior or subsequent to the Participant’s termination, the Participant engaged in conduct which would constitute Cause, then such Participant shall forthwith cease to have any right to exercise any Option. 

(e) A Participant to whom an Option has been granted under the Plan who is absent from the Company or an Affiliate because of
temporary disability (any disability other than a Disability as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to have
terminated such Participant’s employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide; provided, however, that, for ISOs, any leave of absence granted by the
Administrator of greater than three months, unless pursuant to a contract or statute that guarantees the right to reemployment, shall cause such ISO to become a Non-Qualified Option on the date that is six
months following the commencement of such leave of absence. 
 (f) Except as required by law or as set forth in a
Participant’s Option Agreement, Options granted under the Plan shall not be affected by any change of a Participant’s status within or among the Company and any Affiliates, so long as the Participant continues to be an Employee, director
or Consultant of the Company or any Affiliate. 
  

	 	15.	 EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR CAUSE. 

Except as otherwise provided in a Participant’s Option Agreement, the following rules apply if the Participant’s
service (whether as an Employee, director or Consultant) with the Company or an Affiliate is terminated for Cause prior to the time that all of his or her outstanding Options have been exercised: 

(a) All outstanding and unexercised Options as of the time the Participant is notified his or her service is terminated for
Cause will immediately be forfeited. 
 (b) Cause is not limited to events which have occurred prior to a Participant’s
termination of service, nor is it necessary that the Administrator’s finding of Cause occur prior to termination. If the Administrator 

  
 9 

 
determines, subsequent to a Participant’s termination of service but prior to the exercise of an Option, that either prior or subsequent to the Participant’s termination the Participant
engaged in conduct which would constitute Cause, then the right to exercise any Option is forfeited. 
  

	 	16.	 EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR DISABILITY. 

Except as otherwise provided in a Participant’s Option Agreement: 

(a) A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate by reason of
Disability may exercise any Option granted to such Participant: 
  

	 	(i)	 To the extent that the Option has become exercisable but has not been exercised on the date of the
Participant’s termination of service due to Disability; and 

  

	 	(ii)	 In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through
the date of the Participant’s termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of
days accrued in the current vesting period prior to the date of the Participant’s termination of service due to Disability. 

(b) A Disabled Participant may exercise the Option only within the period ending one year after the date of the
Participant’s termination of service due to Disability, notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to
Disability and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. Notwithstanding the terms of any Option Agreement, for Options granted to California Participants, a
Participant may exercise such rights for at least six months from the date of termination of service due to Disability but in no event later than the originally prescribed term of the Option. 

(c) The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence
(unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician
selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. 
  

	 	17.	 EFFECT ON OPTIONS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT. 

Except as otherwise provided in a Participant’s Option Agreement: 

(a) In the event of the death of a Participant while the Participant is an Employee, director or Consultant of the Company or
of an Affiliate, such Option may be exercised by the Participant’s Survivors: 
  

	 	(i)	 To the extent that the Option has become exercisable but has not been exercised on the date of death; and

  

	 	(ii)	 In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through
the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the
Participant’s date of death. 

 (b) If the Participant’s Survivors wish to exercise the Option,
they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if
he or she had not died and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. 

  
 10 

 
For Options granted to California Participants, notwithstanding the terms of any Option Agreement, the Participant’s Survivors shall be allowed to take all necessary steps to exercise the
Option for at least six months from the date of death of such Participant but in no event later than the originally prescribed term of the Option. 
  

	 	18.	 EFFECT OF TERMINATION OF SERVICE ON STOCK GRANTS AND STOCK-BASED AWARDS. 

In the event of a termination of service (whether as an Employee, director or Consultant) with the Company or an Affiliate for
any reason before the Participant has accepted a Stock Grant or a Stock-Based Award and paid the purchase price, if required at the time, such grant shall terminate. 

For purposes of this Paragraph 18 and Paragraph 19 below, a Participant to whom a Stock Grant or a Stock-Based Award has been
issued under the Plan who is absent from work with the Company or with an Affiliate because of temporary disability (any disability other than a Disability as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not,
during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such Participant’s employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator may otherwise
expressly provide. 
 In addition, for purposes of this Paragraph 18 and Paragraph 19 below, any change of employment or
other service within or among the Company and any Affiliates shall not be treated as a termination of employment, director status or consultancy so long as the Participant continues to be an Employee, director or Consultant of the Company or any
Affiliate. 
  

	 	19.	 EFFECT ON STOCK GRANTS AND STOCK BASED AWARDS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE OR DEATH OR
DISABILITY. 

 Except as otherwise provided in a Participant’s Agreement, in the event of a
termination of service for any reason (whether as an Employee, director or Consultant), other than termination for Cause, death or Disability for which events there are special rules in Paragraphs 20, 21, and 22 below, before all forfeiture
provisions or Company rights of repurchase shall have lapsed, then the Company shall have the right to cancel or repurchase that number of Shares subject to a Stock Grant or Stock-Based Award as to which the Company’s forfeiture or repurchase
rights have not lapsed. 
  

	 	20.	 EFFECT ON STOCK GRANTS AND STOCK-BASED AWARDS OF TERMINATION OF SERVICE FOR CAUSE.

 Except as otherwise provided in a Participant’s Agreement, the following rules apply if the
Participant’s service (whether as an Employee, director or Consultant) with the Company or an Affiliate is terminated for Cause: 

(a) All Shares subject to any Stock Grant or Stock-Based Award that remain subject to forfeiture provisions or as to which the
Company shall have a repurchase right shall be immediately forfeited to the Company as of the time the Participant is notified his or her service is terminated for Cause. 

(b) Cause is not limited to events which have occurred prior to a Participant’s termination of service, nor is it
necessary that the Administrator’s finding of Cause occur prior to termination. If the Administrator determines, subsequent to a Participant’s termination of service, that either prior or subsequent to the Participant’s termination
the Participant engaged in conduct which would constitute Cause, then all Shares subject to any Stock Grant or Stock-Based Award that remained subject to forfeiture provisions or as to which the Company had a repurchase right on the date of
termination shall be immediately forfeited to the Company. 
  

	 	21.	 EFFECT ON STOCK GRANTS AND STOCK-BASED AWARDS OF TERMINATION OF SERVICE FOR DISABILITY.

 Except as otherwise provided in a Participant’s Agreement, the following rules apply if a
Participant ceases to be an Employee, director or Consultant of the Company or of an Affiliate by reason of Disability: to the extent the 

  
 11 

 
forfeiture provisions or the Company’s rights of repurchase have not lapsed on the date of Disability, they shall be exercisable; provided, however, that in the event such forfeiture
provisions or rights of repurchase lapse periodically, such provisions or rights shall lapse to the extent of a pro rata portion of the Shares subject to such Stock Grant or Stock-Based Award through the date of Disability as would have lapsed had
the Participant not become Disabled. The proration shall be based upon the number of days accrued prior to the date of Disability. 

The Administrator shall make the determination both as to whether Disability has occurred and the date of its occurrence
(unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician
selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. 
  

	 	22.	 EFFECT ON STOCK GRANTS AND STOCK-BASED AWARDS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT.

 Except as otherwise provided in a Participant’s Agreement, the following rules apply in the event
of the death of a Participant while the Participant is an Employee, director or Consultant of the Company or of an Affiliate: to the extent the forfeiture provisions or the Company’s rights of repurchase have not lapsed on the date of death,
they shall be exercisable; provided, however, that in the event such forfeiture provisions or rights of repurchase lapse periodically, such provisions or rights shall lapse to the extent of a pro rata portion of the Shares subject to such Stock
Grant or Stock-Based Award through the date of death as would have lapsed had the Participant not died. The proration shall be based upon the number of days accrued prior to the Participant’s date of death. 

 

	 	23.	 PURCHASE FOR INVESTMENT. 

Unless the offering and sale of the Shares shall have been effectively registered under the Securities Act, the Company shall
be under no obligation to issue Shares under the Plan unless and until the following conditions have been fulfilled: 
 (a)
The person who receives a Stock Right shall warrant to the Company, prior to the receipt of Shares, that such person is acquiring such Shares for his or her own account, for investment, and not with a view to, or for sale in connection with, the
distribution of any such Shares, in which event the person acquiring such Shares shall be bound by the provisions of the following legend (or a legend in substantially similar form) which shall be endorsed upon the certificate evidencing the Shares
issued pursuant to such exercise or such grant of a Stock Right: 
 “The shares represented by this certificate have
been taken for investment and they may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as
amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities
laws.” 
 (b) At the discretion of the Administrator, the Company shall have received an opinion of its counsel that
the Shares may be issued in compliance with the Securities Act without registration thereunder. 
  

	 	24.	 DISSOLUTION OR LIQUIDATION OF THE COMPANY. 

Upon the dissolution or liquidation of the Company, all Options granted under this Plan which as of such date shall not have
been exercised and all Stock Grants and Stock-Based Awards which have not been accepted, to the extent required under the applicable Agreement, will terminate and become null and void; provided, however, that if the rights of a Participant or a
Participant’s Survivors have not otherwise terminated and expired, the Participant or the Participant’s Survivors will have the right immediately prior to such dissolution or liquidation to exercise or accept any Stock Right to the extent
that the Stock Right is exercisable or subject to acceptance as of the date immediately prior to such dissolution or liquidation. Upon the dissolution or liquidation of the Company, any outstanding
Stock-

  
 12 

 
Based Awards shall immediately terminate unless otherwise determined by the Administrator or specifically provided in the applicable Agreement. 

 

	 	25.	 ADJUSTMENTS. 

Upon the occurrence of any of the following events, a Participant’s rights with respect to any Stock Right granted to him
or her hereunder shall be adjusted as hereinafter provided, unless otherwise specifically provided in a Participant’s Agreement: 

(a) Stock Dividends and Stock Splits. If (i) the shares of Common Stock shall be subdivided or combined into a
greater or smaller number of shares or if the Company shall issue any shares of Common Stock as a stock dividend on its outstanding Common Stock, or (ii) additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of Common Stock, each Stock Right and the number of shares of Common Stock deliverable thereunder shall be appropriately increased or decreased
proportionately, and appropriate adjustments shall be made including, in the exercise, base or purchase price per share and in the Performance Goals applicable to outstanding Performance-Based Awards to reflect such events. The number of Shares
subject to the limitations in Paragraphs 3(a), 3(b) and 4(c) shall also be proportionately adjusted upon the occurrence of such events. 

(b) Corporate Transactions. If the Company is to be consolidated with or acquired by another entity in a Corporate
Transaction, the Administrator or the board of directors of any entity assuming the obligations of the Company hereunder (the “Successor Board”), shall, as to outstanding Options, either: (i) make appropriate provision for the
continuation of such Options by substituting on an equitable basis for the Shares then subject to such Options either the consideration payable with respect to the outstanding shares of Common Stock in connection with the Corporate Transaction or
securities of any successor or acquiring entity; or (ii) upon written notice to the Participants, provide that such Options must be exercised (either (A) to the extent then exercisable or (B) at the discretion of the Administrator,
any such Options being made partially or fully exercisable for purposes of this Subparagraph), within a specified number of days of the date of such notice, at the end of which period such Options which have not been exercised shall terminate; or
(iii) terminate such Options in exchange for payment of an amount equal to the consideration payable upon consummation of such Corporate Transaction to a holder of the number of shares of Common Stock into which such Option would have been
exercisable (either (A) to the extent then exercisable or, (B) at the discretion of the Administrator, any such Options being made partially or fully exercisable for purposes of this Subparagraph) less the aggregate exercise price
thereof. For purposes of determining the payments to be made pursuant to Subclause (iii) above, in the case of a Corporate Transaction the consideration for which, in whole or in part, is other than cash, the consideration other than cash shall
be valued at the fair value thereof as determined in good faith by the Board of Directors. 
 With respect to outstanding
Stock Grants, the Administrator or the Successor Board, shall make appropriate provision for the continuation of such Stock Grants on the same terms and conditions by substituting on an equitable basis for the Shares then subject to such Stock
Grants either the consideration payable with respect to the outstanding Shares of Common Stock in connection with the Corporate Transaction or securities of any successor or acquiring entity. In lieu of the foregoing, in connection with any
Corporate Transaction, the Administrator may provide that, upon consummation of the Corporate Transaction, each outstanding Stock Grant shall be terminated in exchange for payment of an amount equal to the consideration payable upon consummation of
such Corporate Transaction to a holder of the number of shares of Common Stock comprising such Stock Grant (to the extent such Stock Grant is no longer subject to any forfeiture or repurchase rights then in effect or, at the discretion of the
Administrator, all forfeiture and repurchase rights being waived upon such Corporate Transaction). 
 In taking any of the
actions permitted under this Paragraph 25(b), the Administrator shall not be obligated by the Plan to treat all Stock Rights, all Stock Rights held by a Participant, or all Stock Rights of the same type, identically. 

(c) Recapitalization or Reorganization. In the event of a recapitalization or reorganization of the Company other than a
Corporate Transaction pursuant to which securities of the Company or of another corporation are issued with respect to the outstanding shares of Common Stock, a Participant upon exercising an Option or accepting a Stock Grant after the
recapitalization or reorganization shall be entitled to receive for the price paid upon 

  
 13 

 
such exercise or acceptance if any, the number of replacement securities which would have been received if such Option had been exercised or Stock Grant accepted prior to such recapitalization or
reorganization. 
 (d) Adjustments to Stock-Based Awards. Upon the happening of any of the events described in
Subparagraphs (a), (b) or (c) above, any outstanding Stock-Based Award shall be appropriately adjusted to reflect the events described in such Subparagraphs. The Administrator or the Successor Board shall determine the specific adjustments to
be made under this Paragraph 25, including, but not limited to the effect of any Corporate Transaction and, subject to Paragraph 4, its determination shall be conclusive. 

(e) Modification of Options. Notwithstanding the foregoing, any adjustments made pursuant to Subparagraph (a), (b) or
(c) above with respect to Options shall be made only after the Administrator determines whether such adjustments would (i) constitute a “modification” of any ISOs (as that term is defined in Section 424(h) of the Code) or
(ii) cause any adverse tax consequences for the holders of Options, including, but not limited to, pursuant to Section 409A of the Code. If the Administrator determines that such adjustments made with respect to Options would constitute a
modification or other adverse tax consequence, it may in its discretion refrain from making such adjustments, unless the holder of an Option specifically agrees in writing that such adjustment be made and such writing indicates that the holder has
full knowledge of the consequences of such “modification” on his or her income tax treatment with respect to the Option. This paragraph shall not apply to the acceleration of the vesting of any ISO that would cause any portion of the ISO
to violate the annual vesting limitation contained in Section 422(d) of the Code, as described in Paragraph 6(b)(iv). 
  

	 	26.	 ISSUANCES OF SECURITIES. 

Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into
shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject to Stock Rights. Except as expressly provided herein, no adjustments shall be made for dividends
paid in cash or in property (including without limitation, securities) of the Company prior to any issuance of Shares pursuant to a Stock Right. 
  

	 	27.	 FRACTIONAL SHARES. 

No fractional shares shall be issued under the Plan and the person exercising a Stock Right shall receive from the Company cash
in lieu of such fractional shares equal to the Fair Market Value thereof. 
  

	 	28.	 WITHHOLDING. 

In the event that any federal, state, or local income taxes, employment taxes, Federal Insurance Contributions Act withholdings
or other amounts are required by applicable law or governmental regulation to be withheld from the Participant’s salary, wages or other remuneration in connection with the issuance of a Stock Right or Shares under the Plan or for any other
reason required by law, the Company may withhold from the Participant’s compensation, if any, or may require that the Participant advance in cash to the Company, or to any Affiliate of the Company which employs or employed the Participant, the
statutory minimum amount of such withholdings unless a different withholding arrangement, including the use of shares of the Company’s Common Stock or a promissory note, is authorized by the Administrator (and permitted by law). For purposes
hereof, the fair market value of the shares withheld for purposes of payroll withholding shall be determined in the manner set forth under the definition of Fair Market Value provided in Paragraph 1 above, as of the most recent practicable date
prior to the date of exercise. If the Fair Market Value of the shares withheld is less than the amount of payroll withholdings required, the Participant may be required to advance the difference in cash to the Company or the Affiliate employer. 

 

	 	29.	 NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. 

Each Employee who receives an ISO must agree to notify the Company in writing immediately after the Employee makes a
Disqualifying Disposition of any Shares acquired pursuant to the exercise of an ISO. A Disqualifying Disposition is defined in Section 424(c) of the Code and includes any disposition (including any sale or gift) of such Shares before the later
of (a) two years after the date the Employee was granted the ISO, or (b) one year 

  
 14 

 
after the date the Employee acquired Shares by exercising the ISO, except as otherwise provided in Section 424(c) of the Code. If the Employee has died before such Shares are sold, these
holding period requirements do not apply and no Disqualifying Disposition can occur thereafter. 
  

	 	30.	 TERMINATION OF THE PLAN. 

The Plan will terminate on November 17, 2027, the date which is ten years from the earlier of the date of its
adoption by the Board of Directors and the date of its approval by the shareholders of the Company. The Plan may be terminated at an earlier date by vote of the shareholders or the Board of Directors of the Company; provided, however, that any such
earlier termination shall not affect any Agreements executed prior to the effective date of such termination. Termination of the Plan shall not affect any Stock Rights theretofore granted. 

 

	 	31.	 AMENDMENT OF THE PLAN AND AGREEMENTS. 

The Plan may be amended by the shareholders of the Company. The Plan may also be amended by the Administrator; provided that
any amendment approved by the Administrator which the Administrator determines is of a scope that requires shareholder approval shall be subject to obtaining such shareholder approval including, without limitation, to the extent necessary to qualify
any or all outstanding Stock Rights granted under the Plan or Stock Rights to be granted under the Plan for favorable federal income tax treatment as may be afforded ISOs under Section 422 of the Code and to the extent necessary to qualify the
Shares issuable under the Plan for listing on any national securities exchange or quotation in any national automated quotation system of securities dealers. Other than as set forth in Paragraph 25 of the Plan, the Administrator may not without
shareholder approval reduce the exercise price of an Option or cancel any outstanding Option in exchange for a replacement option having a lower exercise price, any Stock Grant, any other Stock-Based Award or for cash. In addition, the Administrator
not take any other action that is considered a direct or indirect “repricing” for purposes of the shareholder approval rules of the applicable securities exchange or inter-dealer quotation system on which the Shares are listed, including
any other action that is treated as a repricing under generally accepted accounting principles. Any modification or amendment of the Plan shall not, without the consent of a Participant, adversely affect his or her rights under a Stock Right
previously granted to him or her, unless such amendment is required by applicable law or necessary to preserve the economic value of such Stock Right. With the consent of the Participant affected, the Administrator may amend outstanding Agreements
in a manner which may be adverse to the Participant but which is not inconsistent with the Plan. In the discretion of the Administrator, outstanding Agreements may be amended by the Administrator in a manner which is not adverse to the Participant.
Nothing in this Paragraph 31 shall limit the Administrator’s authority to take any action permitted pursuant to Paragraph 25. 
  

	 	32.	 EMPLOYMENT OR OTHER RELATIONSHIP. 

Nothing in this Plan or any Agreement shall be deemed to prevent the Company or an Affiliate from terminating the employment,
consultancy or director status of a Participant, nor to prevent a Participant from terminating his or her own employment, consultancy or director status or to give any Participant a right to be retained in employment or other service by the Company
or any Affiliate for any period of time. 
  

	 	33.	 SECTION 409A. 

If a Participant is a “specified employee” as defined in Section 409A of the Code (and as applied according to
procedures of the Company and its Affiliates) as of his separation from service, to the extent any payment under this Plan or pursuant to the grant of a Stock-Based Award constitutes deferred compensation (after taking into account any applicable
exemptions from Section 409A of the Code), and to the extent required by Section 409A of the Code, no payments due under this Plan or pursuant to a Stock-Based Award may be made until the earlier of: (i) the first day of the seventh
month following the Participant’s separation from service, or (ii) the Participant’s date of death; provided, however, that any payments delayed during this six-month period shall be paid in the
aggregate in a lump sum, without interest, on the first day of the seventh month following the Participant’s separation from service. 

The Administrator shall administer the Plan with a view toward ensuring that Stock Rights under the Plan that are subject to
Section 409A of the Code comply with the requirements thereof and that Options under the Plan be 

  
 15 

 
exempt from the requirements of Section 409A of the Code, but neither the Administrator nor any member of the Board, nor the Company nor any of its Affiliates, nor any other person acting
hereunder on behalf of the Company, the Administrator or the Board shall be liable to a Participant or any Survivor by reason of the acceleration of any income, or the imposition of any additional tax or penalty, with respect to a Stock Right,
whether by reason of a failure to satisfy the requirements of Section 409A of the Code or otherwise. 
  

	 	34.	 INDEMNITY. 

Neither the Board nor the Administrator, nor any members of either, nor any employees of the Company or any parent, subsidiary,
or other Affiliate, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with their responsibilities with respect to this Plan, and the Company hereby agrees to indemnify the members
of the Board, the members of the Committee, and the employees of the Company and its parent or subsidiaries in respect of any claim, loss, damage, or expense (including reasonable counsel fees) arising from any such act, omission, interpretation,
construction or determination to the full extent permitted by law. 
  

	 	35.	 CLAWBACK. 

Notwithstanding anything to the contrary contained in this Plan, the Company may recover from a Participant any compensation
received from any Stock Right (whether or not settled) or cause a Participant to forfeit any Stock Right (whether or not vested) in the event that the Company’s Clawback Policy as then in effect is triggered. 

 

	 	36.	 GOVERNING LAW. 

This Plan shall be construed and enforced in accordance with the law of the State of Delaware. 

  
 16EX-10.9

 Exhibit 10.9 

INHIBRX, INC. 
 Stock
Option Grant Notice 
 Stock Option Grant under the Company’s 

Amended and Restated 2017 Employee, Director and Consultant Equity Incentive Plan 

 

					
			
	 1.
	 	 Name and Address of Participant:
	  	 As provided in the corresponding entry for this Grant on the [        platform]
platform (the “Grant Entry”)

			
	 2.
	 	 Date of Option Grant:
	  	
			
	 3.
	 	 Type of Grant:
	  	
			
	 4.
	 	 Maximum Number of Shares for which this Option is exercisable:
	  	
			
	 5.
	 	 Exercise (purchase) price per share:
	  	
			
	 6.
	 	 Option Expiration Date:
	  	
			
	 7.
	 	 Vesting Start Date:
	  	
			
	 8.
	 	 Vesting Schedule:
	  	

 In no event shall any additional Shares vest after Participant’s service with the Company
ceases. 
 The foregoing rights are cumulative and are subject to the other terms and conditions of this Agreement and the
Company’s Amended and Restated 2017 Employee, Director and Consultant Equity Incentive Plan (the “Plan”). 

The Company and the Participant acknowledge receipt of this Stock Option Grant Notice and agree to the terms of the Stock
Option Agreement attached hereto and incorporated by reference herein, the Plan and the terms of this Option Grant as set forth above. 

 INHIBRX, INC. 

STOCK OPTION AGREEMENT- INCORPORATED TERMS AND CONDITIONS 

AGREEMENT made as of the date of grant set forth in the Stock Option Grant Notice by and between Inhibrx, Inc. (the
“Company”), a Delaware corporation, and the individual whose name appears on the Stock Option Grant Notice (the “Participant”). 

WHEREAS, the Company desires to grant to the Participant an Option to purchase shares of its common stock, $0.0001 par value
per share (the “Shares”), under and for the purposes set forth in the Company’s Amended and Restated 2017 Employee, Director and Consultant Equity Incentive Plan (the “Plan”); 

WHEREAS, the Company and the Participant understand and agree that any terms used and not defined herein have the same
meanings as in the Plan; and 
 WHEREAS, the Company and the Participant each intend that the Option granted herein shall be
of the type set forth in the Stock Option Grant Notice. 
 NOW, THEREFORE, in consideration of the mutual covenants
hereinafter set forth and for other good and valuable consideration, the parties hereto agree as follows: 
 1. GRANT OF
OPTION. 
 The Company hereby grants to the Participant the right and option to purchase all or any part of an aggregate
of the number of Shares set forth in the Stock Option Grant Notice, on the terms and conditions and subject to all the limitations set forth herein, under United States securities and tax laws, and in the Plan, which is incorporated herein by
reference. The Participant acknowledges receipt of a copy of the Plan. 
 2. EXERCISE PRICE. 

The exercise price of the Shares covered by the Option shall be the amount per Share set forth in the Stock Option Grant
Notice, subject to adjustment, as provided in the Plan, in the event of a stock split, reverse stock split or other events affecting the holders of Shares after the date hereof (the “Exercise Price”). Payment shall be made in accordance
with Paragraph 9 of the Plan. 
 3. EXERCISABILITY OF OPTION. 

Subject to the terms and conditions set forth in this Agreement and the Plan, the Option granted hereby shall become vested and
exercisable as set forth in the Stock Option Grant Notice and is subject to the other terms and conditions of this Agreement and the Plan. 

4. TERM OF OPTION. 

This Option shall terminate on the Option Expiration Date as specified in the Stock Option Grant Notice and, if this Option is
designated in the Stock Option Grant Notice as an ISO and the Participant owns as of the date hereof more than 10% of the total combined voting power of all classes of capital stock of the Company or an Affiliate, such date may not be more than five
years from the date of this Agreement, but shall be subject to earlier termination as provided herein or in the Plan. 
 If
the Participant ceases to be an Employee, director or Consultant of the Company or of an Affiliate for any reason other than the death or Disability of the Participant, or termination of the Participant for Cause (the “Termination Date”),
the Option to the extent then vested and exercisable pursuant to Section 3 hereof as of the Termination Date, and not previously terminated in accordance with this Agreement, may be exercised within three (3) months after the Termination
Date, or on or prior to the Option Expiration Date as specified in the Stock Option 

  
 1 

 
Grant Notice, whichever is earlier, but may not be exercised thereafter except as set forth below. In such event, the unvested portion of the Option shall not be exercisable and shall expire and
be cancelled on the Termination Date.  
 If this Option is designated in the Stock Option Grant Notice as an ISO and
the Participant ceases to be an Employee of the Company or of an Affiliate but continues after termination of employment to provide service to the Company or an Affiliate as a director or Consultant, this Option shall continue to vest in accordance
with Section 3 above as if this Option had not terminated until the Participant is no longer providing services to the Company. In such case, this Option shall automatically convert and be deemed a
Non-Qualified Option as of the date that is three (3) months from termination of the Participant’s employment and this Option shall continue on the same terms and conditions set forth herein until
such Participant is no longer providing service to the Company or an Affiliate. 
 Notwithstanding the foregoing, in the
event of the Participant’s Disability or death within three (3) months after the Termination Date, the Participant or the Participant’s Survivors may exercise the Option within one (1) year after the Termination Date, but in no
event after the Option Expiration Date as specified in the Stock Option Grant Notice, and this Option shall thereupon terminate. 

In the event the Participant’s service is terminated by the Company or an Affiliate for Cause, the Participant’s
right to exercise any unexercised portion of this Option even if vested shall cease immediately as of the time the Participant is notified his or her service is terminated for Cause, and this Option shall thereupon terminate. Notwithstanding
anything herein to the contrary, if subsequent to the Participant’s termination, but prior to the exercise of the Option, the Administrator determines that, either prior or subsequent to the Participant’s termination, the Participant
engaged in conduct which would constitute Cause, then the Participant shall immediately cease to have any right to exercise the Option and this Option shall thereupon terminate. 

In the event of the Disability of the Participant while an Employee, director or Consultant of the Company or of an Affiliate,
as determined in accordance with the Plan, the Option shall be exercisable within one (1) year after the Participant’s termination of service due to Disability or, if earlier, on or prior to the Option Expiration Date as specified in the
Stock Option Grant Notice. In such event, the Option shall be exercisable: 
  

	 	(a)	 to the extent that the Option has become exercisable but has not been exercised as of the date of the
Participant’s termination of service due to Disability; and 

  

	 	(b)	 in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through
the date of the Participant’s termination of service due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of
days accrued in the current vesting period prior to the date of the Participant’s termination of service due to Disability. 

In the event of the death of the Participant while an Employee, director or Consultant of the Company or of an Affiliate, the
Option shall be exercisable by the Participant’s Survivors within one year after the date of death of the Participant or, if earlier, on or prior to the Option Expiration Date as specified in the Stock Option Grant Notice. In such event, the
Option shall be exercisable: 
  

	 	(x)	 to the extent that the Option has become exercisable but has not been exercised as of the date of death; and

  

	 	(y)	 in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through
the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the
Participant’s date of death. 

  
 2 

 5. METHOD OF EXERCISING OPTION. 

Subject to the terms and conditions of this Agreement, the Option may be exercised by written notice to the Company or its
designee, in substantially the form of Exhibit A attached hereto (or in such other form acceptable to the Company, which may include electronic notice). Such notice shall state the number of Shares with respect to which the
Option is being exercised and shall be signed by the person exercising the Option (which signature may be provided electronically in a form acceptable to the Company). Payment of the Exercise Price for such Shares shall be made in accordance with
Paragraph 10 of the Plan. The Company shall deliver such Shares as soon as practicable after the notice shall be received, provided, however, that the Company may delay issuance of such Shares until completion of any action or obtaining of any
consent, which the Company deems necessary under any applicable law (including, without limitation, state securities or “blue sky” laws). The Shares as to which the Option shall have been so exercised shall be registered in the
Company’s share register in the name of the person so exercising the Option (or, if the Option shall be exercised by the Participant and if the Participant shall so request in the notice exercising the Option, shall be registered in the
Company’s share register in the name of the Participant and another person jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. In the event the Option
shall be exercised, pursuant to Section 4 hereof, by any person other than the Participant, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Shares that shall be purchased upon the
exercise of the Option as provided herein shall be fully paid and nonassessable. 
 6. PARTIAL EXERCISE. 

Exercise of this Option to the extent above stated may be made in part at any time and from time to time within the above
limits, except that no fractional share shall be issued pursuant to this Option. 
 7.
NON-ASSIGNABILITY. 
 The Option shall not be transferable by the Participant
otherwise than by will or by the laws of descent and distribution. If this Option is a Non-Qualified Option then it may also be transferred pursuant to a qualified domestic relations order as defined by the
Code or Title I of the Employee Retirement Income Security Act or the rules thereunder and the Participant, with the approval of the Administrator, may transfer the Option for no consideration to or for the benefit of the Participant’s
Immediate Family (including, without limitation, to a trust for the benefit of the Participant’s Immediate Family or to a partnership or limited liability company for one or more members of the Participant’s Immediate Family),
subject to such limits as the Administrator may establish, and the transferee shall remain subject to all the terms and conditions applicable to the Option prior to such transfer and each such transferee shall so acknowledge in writing as a
condition precedent to the effectiveness of such transfer. The term “Immediate Family” shall mean the Participant’s spouse, former spouse, parents, children, stepchildren, adoptive relationships, sisters, brothers, nieces, nephews and
grandchildren (and, for this purpose, shall also include the Participant.). Except as provided above in this paragraph, the Option shall be exercisable, during the Participant’s lifetime, only by the Participant (or, in the event of legal
incapacity or incompetency, by the Participant’s guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar
process. Any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy of any attachment or similar process upon the
Option shall be null and void. 
 8. NO RIGHTS AS STOCKHOLDER UNTIL EXERCISE. 

The Participant shall have no rights as a stockholder with respect to Shares subject to this Agreement until registration of
the Shares in the Company’s share register in the name of the Participant. Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar
rights for which the record date is prior to the date of such registration. 

  
 3 

 9. ADJUSTMENTS. 

The Plan contains provisions covering the treatment of Options in a number of contingencies such as stock splits and mergers.
Provisions in the Plan for adjustment with respect to stock subject to Options and the related provisions with respect to successors to the business of the Company are hereby made applicable hereunder and are incorporated herein by reference. 

10. TAXES. 

The Participant acknowledges and agrees that (i) any income or other taxes due from the Participant with respect to this
Option or the Shares issuable upon exercise of this Option shall be the Participant’s responsibility; (ii) the Participant was free to use professional advisors of his or her choice in connection with this Agreement, has received advice
from his or her professional advisors in connection with this Agreement, understands its meaning and import, and is entering into this Agreement freely and without coercion or duress; (iii) the Participant has not received and is not relying
upon any advice, representations or assurances made by or on behalf of the Company or any Affiliate or any Employee of or counsel to the Company or any Affiliate regarding any tax or other effects or implications of the Option, the Shares or other
matters contemplated by this Agreement and (iv) neither the Administrator, the Company, its Affiliates, nor any of its officers or directors, shall be held liable for any applicable costs, taxes, or penalties associated with the Option if, in
fact, the Internal Revenue Service were to determine that the Option constitutes deferred compensation under Section 409A of the Code. 

If this Option is designated in the Stock Option Grant Notice as a Non-Qualified
Option or if the Option is an ISO and is converted into a Non-Qualified Option and such Non-Qualified Option is exercised, the Participant agrees that the Company may
withhold from the Participant’s remuneration, if any, the minimum statutory amount of federal, state and local withholding taxes attributable to such amount that is considered compensation includable in such person’s gross income. At the
Company’s discretion, the amount required to be withheld may be withheld in cash from such remuneration, or in kind from the Shares otherwise deliverable to the Participant on exercise of the Option. The Participant further agrees that, if the
Company does not withhold an amount from the Participant’s remuneration sufficient to satisfy the Company’s income tax withholding obligation, the Participant will reimburse the Company on demand, in cash, for the amount under-withheld.

 11. PURCHASE FOR INVESTMENT. 

Unless the offering and sale of the Shares to be issued upon the particular exercise of the Option shall have been effectively
registered under the Securities Act, the Company shall be under no obligation to issue the Shares covered by such exercise unless the Company has determined that such exercise and issuance would be exempt from the registration requirements of the
Securities Act and until the following conditions have been fulfilled: 
  

	 	(a)	 The person(s) who exercise the Option shall warrant to the Company, at the time of such exercise, that such
person(s) are acquiring such Shares for their own respective accounts, for investment, and not with a view to, or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring such Shares shall be bound by
the provisions of the following legend which shall be endorsed upon any certificate(s) evidencing the Shares issued pursuant to such exercise: 

“The shares represented by this certificate have been taken for investment and they may not be sold or otherwise
transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act, or (b) the Company shall have received an opinion of counsel
satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws;” and 

 

	 	(b)	 If the Company so requires, the Company shall have received an opinion of its counsel that the Shares may be
issued upon such particular exercise in compliance with the Securities Act without registration thereunder. Without limiting the generality of the foregoing, the 

  
 4 

	 	 
Company may delay issuance of the Shares until completion of any action or obtaining of any consent, which the Company deems necessary under any applicable law (including without limitation state
securities or “blue sky” laws). 

 12. RESTRICTIONS ON TRANSFER OF SHARES. 

12.1 The Participant agrees that in the event the Company proposes to offer for sale to the public any of its equity securities
and such Participant is requested by the Company and any underwriter engaged by the Company in connection with such offering to sign an agreement restricting the sale or other transfer of Shares, then it will promptly sign such agreement and will
not transfer, whether in privately negotiated transactions or to the public in open market transactions or otherwise, any Shares or other securities of the Company held by him or her during such period as is determined by the Company and the
underwriters, not to exceed 180 days following the closing of the offering, plus such additional period of time as may be required to comply with FINRA Rules or similar rules promulgated by another regulatory authority (such period, the “Lock-Up Period”). Such agreement shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and pursuant to customary and prevailing terms and conditions.
Notwithstanding whether the Participant has signed such an agreement, the Company may impose stop-transfer instructions with respect to the Shares or other securities of the Company subject to the foregoing restrictions until the end of the Lock-Up Period. 
 12.2 The Participant acknowledges and agrees that neither the Company,
its shareholders nor its directors and officers, has any duty or obligation to disclose to the Participant any material information regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a
termination of the service of the Participant by the Company, including, without limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or merged with or into another firm or
entity. 
 13. NO OBLIGATION TO MAINTAIN RELATIONSHIP. 

The Participant acknowledges that: (i) the Company is not by the Plan or this Option Agreement obligated to continue the
Participant as an Employee, director or Consultant of the Company or an Affiliate; (ii) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (iii) the grant of the Option is a one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (iv) all determinations with respect to any such future grants,
including, but not limited to, the times when options shall be granted, the number of shares subject to each option, the option price, and the time or times when each option shall be exercisable, will be at the sole discretion of the Company;
(v) the Participant’s participation in the Plan is voluntary; (vi) the value of the Option is an extraordinary item of compensation which is outside the scope of the Participant’s employment or consulting contract, if any; and
(vii) the Option is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. 

14. IF OPTION IS INTENDED TO BE AN ISO. 

If this Option is designated in the Stock Option Grant Notice as an ISO so that the Participant (or the Participant’s
Survivors) may qualify for the favorable tax treatment provided to holders of Options that meet the standards of Section 422 of the Code then any provision of this Agreement or the Plan which conflicts with the Code so that this Option would
not be deemed an ISO is null and void and any ambiguities shall be resolved so that the Option qualifies as an ISO. The Participant should consult with the Participant’s own tax advisors regarding the tax effects of the Option and the
requirements necessary to obtain favorable tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements. 

Notwithstanding the foregoing, to the extent that the Option is designated in the Stock Option Grant Notice as an ISO and is
not deemed to be an ISO pursuant to Section 422(d) of the Code because the aggregate Fair Market Value (determined as of the Date of Option Grant) of any of the Shares with respect to which this ISO is granted becomes exercisable for the first
time during any calendar year in excess of $100,000, the portion of the Option representing such excess value shall be treated as a Non-Qualified Option and the Participant shall be deemed to have taxable
income measured by the difference between the then Fair Market Value of the Shares received upon exercise and the price paid for such Shares pursuant to this Agreement. 

  
 5 

 Neither the Company nor any Affiliate shall have any liability to the
Participant, or any other party, if the Option (or any part thereof) that is intended to be an ISO is not an ISO or for any action taken by the Administrator, including without limitation the conversion of an ISO to a
Non-Qualified Option. 
 15. NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION OF AN
ISO. 
 If this Option is designated in the Stock Option Grant Notice as an ISO then the Participant agrees to notify the
Company in writing immediately after the Participant makes a Disqualifying Disposition of any of the Shares acquired pursuant to the exercise of the ISO. A Disqualifying Disposition is defined in Section 424(c) of the Code and includes any
disposition (including any sale) of such Shares before the later of (a) two years after the date the Participant was granted the ISO or (b) one year after the date the Participant acquired Shares by exercising the ISO, except as otherwise
provided in Section 424(c) of the Code. If the Participant has died before the Shares are sold, these holding period requirements do not apply and no Disqualifying Disposition can occur thereafter. 

16. NOTICES. 

Any notices required or permitted by the terms of this Agreement or the Plan shall be given by recognized courier service,
facsimile, registered or certified mail, return receipt requested, or by email addressed as follows: 
 If to the Company: 

Inhibrx, Inc. 

11025 N. Torrey Pines Road, Suite 200 

La Jolla, CA 92037 

Attention: Chief Financial Officer 

If to the Participant at the address set forth on the Stock Option Grant Notice or such address as the Company may then have in its records
for the Participant or to such other address or addresses of which notice in the same manner has previously been given. Any such notice shall be deemed to have been given upon the earlier of receipt, one business day following delivery to a
recognized courier service or three business days following mailing by registered or certified mail. 
 17. GOVERNING
LAW. 
 This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without
giving effect to its internal principles governing the conflict of law. For the purpose of litigating any dispute that arises under this Agreement, the parties hereby consent to exclusive jurisdiction in the State of California and agree that
such litigation shall be conducted in the state courts of San Diego County, California or the federal courts of the United States for the Southern District of the State of California. 

18. BENEFIT OF AGREEMENT. 

Subject to the provisions of the Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be
binding upon the heirs, executors, administrators, successors and assigns of the parties hereto. 
 19. ENTIRE
AGREEMENT. 
 This Agreement, together with the Plan, embodies the entire agreement and understanding between the parties
hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof (with the exception of acceleration of vesting provisions contained in any other agreement
with the Company). No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict, the express terms and provisions of this Agreement, provided,
however, in any event, this Agreement shall be subject to and governed by the Plan. 

  
 6 

 20. MODIFICATIONS AND AMENDMENTS. 

The terms and provisions of this Agreement may be modified or amended as provided in the Plan. 

21. WAIVERS AND CONSENTS. 

Except as provided in the Plan, the terms and provisions of this Agreement may be waived, or consent for the departure
therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or
provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 

22. DATA PRIVACY. 

By entering into this Agreement, the Participant: (i) authorizes the Company and each Affiliate, and any agent of the
Company or any Affiliate administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any of its Affiliates such information and data as the Company or any such Affiliate shall request in order to facilitate the
grant of options and the administration of the Plan; (ii) to the extent permitted by law waives any data privacy rights he or she may have with respect to such information; and (iii) authorizes the Company and each Affiliate to store and
transmit such information in electronic form for the purposes set forth in this Agreement. 

  
 7 

 Exhibit A 

NOTICE OF EXERCISE OF STOCK OPTION 
 To:
Inhibrx, Inc. 
 IMPORTANT NOTICE: This form of Notice of Exercise may only be used at such time as the Company has filed a
Registration Statement with the Securities and Exchange Commission under which the issuance of the Shares for which this exercise is being made is registered and such Registration Statement remains effective. 

Ladies and Gentlemen: 

I hereby exercise my Stock Option to purchase             
shares (the “Shares”) of the common stock, $0.0001 par value, of Inhibrx, Inc. (the “Company”), at the exercise price of $             per share, pursuant
to and subject to the terms of that Stock Option Grant Notice dated                 , 20        . 

I understand the nature of the investment I am making and the financial risks thereof. I am aware that it is my responsibility
to have consulted with competent tax and legal advisors about the relevant national, state and local income tax and securities laws affecting the exercise of the Option and the purchase and subsequent sale of the Shares. 

I am paying the option exercise price for the Shares as follows: 

 
  

Please issue the Shares (check one): 

☐ to me; or 

☐ to me and
                                         
                       , as joint tenants with right of survivorship, 

at the following address: 
  

                    
                                         

 

                    
                                         

 

                    
                                         

My mailing address for shareholder communications, if different from the address listed above, is: 

 

                    
                                         

 

                    
                                         

 

                    
                                         

 

			
	 Very truly yours,

 
 Participant (signature)

 
 Print Name

 
 Date

  
 Exhibit A-1

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