Document:

Exhibit 10.1

 

IN8bio, Inc.

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (this “Agreement”) is dated as of _________________, 20__ and is between IN8bio, Inc.,
a Delaware corporation (the “Company”), and ______________ (“Indemnitee”).

 

Recitals

 

A.            Indemnitee’s
service to the Company substantially benefits the Company.

 

B.            Individuals
are reluctant to serve as directors or officers of corporations or in certain other capacities unless they are provided with adequate
protection through insurance or indemnification against the risks of claims and actions against them arising out of such service.

 

C.            Indemnitee
does not regard the protection currently provided by applicable law, the Company’s governing documents and any insurance
as adequate under the present circumstances, and Indemnitee may not be willing to serve as a director or officer without additional
protection.

 

D.            In
order to induce Indemnitee to continue to provide services to the Company, it is reasonable, prudent and necessary for the Company
to contractually obligate itself to indemnify, and to advance expenses on behalf of, Indemnitee as permitted by applicable
law.

 

E.            This
Agreement is a supplement to and in furtherance of the indemnification provided in the Company’s certificate of incorporation
and bylaws, and any resolutions adopted pursuant thereto, and this Agreement shall not be deemed a substitute therefor, nor shall
this Agreement be deemed to limit, diminish or abrogate any rights of Indemnitee thereunder.

 

Agreement

 

The parties agree as
follows:

 

1.             Definitions.

 

(a)            “Beneficial
Owner” shall have the meaning given to such term in Rule 13d-3 under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”); provided, however, that “Beneficial Owner” shall exclude any
Person otherwise becoming a Beneficial Owner solely by reason of (i) the stockholders of the Company approving a merger of
the Company with another Person, or entering into tender or support agreements relating thereto, provided such merger was approved
by the Company’s board of directors, or (ii) the Company’s board of directors approving a sale of securities by
the Company to such Person.

 

(b)            A
 “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement
of any of the following events:

 

(i)            Acquisition
of Stock by Third Party. Any Person (as defined below) becomes the Beneficial Owner, directly or indirectly, of securities
of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities;

 

    

     

    

 

(ii)           Change
in Board Composition. During any period of two consecutive years (not including any period prior to the execution of this Agreement),
individuals who at the beginning of such period constituted the Company’s board of directors and any Approved Directors cease
for any reason to constitute at least a majority of the members of the Company’s board of directors. “Approved
Directors” means new directors (other than a director designated by a person who has entered into an agreement with
the Company to effect a transaction described in Sections 1(b)(i), 1(b)(iii) or 1(b)(iv)) whose election or nomination by
the board of directors (or, if applicable, by the Company’s stockholders) was approved by a vote of at least two thirds of
the directors then still in office who either were directors at the beginning of such two-year period or whose election or nomination
for election was previously so approved;

 

(iii)          Corporate
Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or
consolidation that would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity)
more than 50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such
merger or consolidation and with the power to elect a majority of the board of directors or other governing body of such surviving
entity; or

 

(iv)           Liquidation.
The approval by the Company’s board of directors of a complete liquidation or the dissolution of the Company or an agreement
for the sale, lease or disposition by the Company of all or substantially all of the Company’s assets; or

 

(v)            Other
Events. Any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of
Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Exchange Act, whether
or not the Company is then subject to such reporting requirement, except the completion of the Company’s initial public
offering shall not be considered a Change in Control.

 

(c)            “Corporate
Status” describes the status of a person who is or was a director, trustee, general partner, managing member, officer,
employee, agent or fiduciary of the Company or any other Enterprise.

 

(d)            “DGCL”
means the General Corporation Law of the State of Delaware.

 

(e)            “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

(f)            “Enterprise”
means the Company and any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan
or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, trustee, general partner,
managing member, officer, employee, agent or fiduciary.

 

(g)            “Expenses”
include all reasonable and actually incurred attorneys’ fees, retainers, court costs, transcript costs, fees and costs of
experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service
fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing
to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses
also include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation
the premium, security for, and other costs relating to any cost bond, supersede as bond or other appeal bond or their equivalent,
and (ii) for purposes of Section 10(d), Expenses incurred by Indemnitee in connection with the interpretation, enforcement
or defense of Indemnitee’s rights under this Agreement or under any directors’ and officers’ liability insurance
policies maintained by the Company. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount
of judgments or fines against Indemnitee.

 

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(h)            “Independent
Counsel” means a law firm, or a partner or member of a law firm, that is experienced in matters of corporation law
and neither presently is, nor in the past five years has been, retained to represent (i) the Company, any Enterprise or Indemnitee
in any matter material to any such party (other than as Independent Counsel with respect to matters concerning Indemnitee under
this Agreement, or other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding
giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term Independent Counsel shall not include
any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

(i)            “Person”
shall have the meaning set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that
Person shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit
plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially
the same proportions as their ownership of stock of the Company.

 

(j)            “Proceeding”
means any threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution mechanism, investigation,
inquiry, administrative hearing or proceeding, whether brought in the right of the Company or otherwise and whether of a civil,
criminal, administrative or investigative nature, whether formal or informal, including any appeal therefrom and including without
limitation any such Proceeding pending as of the date of this Agreement, in which Indemnitee was, is or will be involved as a party,
a potential party, a non-party witness or otherwise by reason of (i) the fact that Indemnitee is or was a director or officer
of the Company, (ii) any action taken by Indemnitee or any action or inaction on Indemnitee’s part while acting as a
director or officer of the Company, or (iii) the fact that he or she is or was serving at the request of the Company as a
director, trustee, general partner, managing member, officer, employee, agent or fiduciary of the Company or any other Enterprise,
in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification
or advancement of expenses can be provided under this Agreement.

 

(k)            “to
the fullest extent permitted by applicable law” means to the fullest extent permitted by all applicable laws, including
without limitation: (i) the fullest extent permitted by DGCL as of the date of this Agreement and (ii) the fullest extent
authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement that increase
the extent to which a corporation may indemnify its officers and directors.

 

(l)            In
connection with any Proceeding relating to an employee benefit plan: references to “fines” shall include
any excise taxes assessed on a person with respect to any employee benefit plan; references to “serving at the request
of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes
duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants
or beneficiaries; and a person who acted in good faith and in a manner he or she reasonably believed to be in the best interests
of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed
to the best interests of the Company” as referred to in this Agreement.

 

2.             Indemnity
in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 2
if Indemnitee is, or is threatened to be made, a party to or witness or other participant in any Proceeding, other than a Proceeding
by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 2, Indemnitee shall be
indemnified to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or
matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the
best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his
or her conduct was unlawful.

 

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3.             Indemnity
in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance with the provisions
of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a witness or other participant in any Proceeding
by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be
indemnified to the fullest extent permitted by applicable law against all Expenses incurred by Indemnitee or on his or her behalf
in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he
or she reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall
be made under this Section 3 in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged by a
court of competent jurisdiction to be liable to the Company, unless and only to the extent that the Delaware Court of Chancery
or any court in which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but
in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification for such expenses
as the Delaware Court of Chancery or such other court shall deem proper.

 

4.             Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, in circumstances
where indemnification is not available under Section 2 or 3, as the case may be, to the fullest extent permitted by law and
to the extent that Indemnitee is a party to, and is successful (on the merits or otherwise) in defense of, any Proceeding or any
claim, issue or matter therein, the Company shall indemnify Indemnitee against all Expenses incurred by Indemnitee or on Indemnitee’s
behalf in connection therewith. For purposes of this Section 4, the termination of any claim, issue or matter in such a Proceeding
by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

5.             Exclusions.
Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity
in connection with any Proceeding (or any part of any Proceeding):

 

(a)            for
which payment has actually been made to or on behalf of Indemnitee under any statute, insurance policy, indemnity provision, vote
or otherwise, except with respect to any excess beyond the amount paid;

 

(b)            for
an accounting or disgorgement of profits pursuant to Section 16(b) of the Exchange Act, or similar provisions of federal,
state or local statutory law or common law, if Indemnitee is held liable therefor (including pursuant to any settlement arrangements);

 

(c)            for
any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits
realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any
such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley
Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase
and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable
therefor (including pursuant to any settlement arrangements);

 

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(d)            initiated
by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors,
officers, employees, agents or other indemnitees, unless (i) the Company’s board of directors authorized the Proceeding
(or the relevant part of the Proceeding) prior to its initiation, (ii) the Company provides the indemnification, in its sole
discretion, pursuant to the powers vested in the Company under applicable law, (iii) otherwise authorized in Section 10(d) or
(iv) otherwise required by applicable law; provided, for the avoidance of doubt, Indemnitee shall not be deemed for
purposes of this paragraph, to have initiated any Proceeding (or any part of a Proceeding) by reason of (i) having asserted
any affirmative defenses in connection with a claim not initiated by Indemnitee or (ii) having made any counterclaim (whether
permissive or mandatory) in connection with any claim not initiated by Indemnitee; or

 

(e)            if
prohibited by the DGCL or other applicable law.

 

6.            Advances
of Expenses. The Company shall advance the Expenses incurred by Indemnitee in connection with any Proceeding prior to its final
disposition, and such advancement shall be made as soon as reasonably practicable, but in any event no later than 30 days, after
the receipt by the Company of a written statement or statements requesting such advances from time to time (which shall include
invoices received by Indemnitee in connection with such Expenses but, in the case of invoices in connection with legal services,
any references to legal work performed or to expenditure made that would cause Indemnitee to waive any privilege accorded by applicable
law shall not be included with the invoice). Advances shall be unsecured and interest free and made without regard to Indemnitee’s
ability to repay such advances. Indemnitee hereby undertakes to repay any advance to the extent that it is ultimately determined
that Indemnitee is not entitled to be indemnified by the Company, except, with respect to advances of expenses made pursuant
to Section 10(c), in which case Indemnitee makes the undertaking provided in Section 10(c). This Section 6 shall
not apply to the extent advancement is prohibited by law and shall not apply to any Proceeding (or any part of any Proceeding)
for which indemnity is not permitted under this Agreement, but shall apply to any Proceeding (or any part of any Proceeding) referenced
in Section 5(b) or 5(c) prior to a determination that Indemnitee is not entitled to be indemnified by the Company.

 

7.            Procedures
for Notification and Defense of Claim.

 

(a)            Indemnitee
shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement
of Expenses as soon as reasonably practicable following the receipt by Indemnitee of notice thereof. The written notification to
the Company shall include, in reasonable detail, a description of the nature of the Proceeding and the facts underlying the Proceeding.
The failure by Indemnitee to notify the Company will not relieve the Company from any liability that it may have to Indemnitee
hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee
of any rights, except to the extent that such failure or delay materially prejudices the Company.

 

(b)            If,
at the time of the receipt of a notice of a Proceeding pursuant to the terms hereof, the Company has directors’ and officers’
liability insurance in effect that may be applicable to the Proceeding, the Company shall give prompt notice of the commencement
of the Proceeding to the insurers in accordance with the procedures set forth in the applicable policies. The Company shall thereafter
take all commercially reasonable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result
of such Proceeding in accordance with the terms of such policies.

 

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(c)            In
the event the Company may be obligated to make any indemnity in connection with a Proceeding, the Company shall be entitled to
assume the defense of such Proceeding with counsel approved by Indemnitee, which approval shall not be unreasonably withheld, conditioned
or delayed, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval
of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee for
any fees or expenses of counsel subsequently incurred by Indemnitee with respect to the same Proceeding. Notwithstanding the Company’s
assumption of the defense of any such Proceeding, the Company shall be obligated to pay the fees and expenses of Indemnitee’s
separate counsel to the extent (i) the employment of separate counsel by Indemnitee is authorized by the Company, (ii) counsel
for the Company shall have reasonably concluded that there is a conflict of interest between the Company and Indemnitee in the
conduct of any such defense such that Indemnitee needs to be separately represented, (iii) the Company is not financially
or legally able to perform its indemnification obligations, or (iv) the Company shall not have retained, or shall not continue
to retain, counsel to defend such Proceeding. Regardless of any provision in this Agreement, Indemnitee shall have the right
to employ counsel in any Proceeding at Indemnitee’s personal expense. The Company shall not be entitled, without the consent
of Indemnitee, to assume the defense of any claim brought by or in the right of the Company.

 

(d)            Indemnitee
shall give the Company such information and cooperation in connection with the Proceeding as may be reasonably appropriate.

 

(e)           The
Company shall not be liable to indemnify Indemnitee for any settlement of any Proceeding (or any part thereof) effected without
the Company’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed. The Company acknowledges
that a settlement or other disposition short of final judgment may be successful if it permits a party to avoid expense, delay,
distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is resolved
in a settlement to which the Company has given its prior written consent, such settlement shall be treated as a success on the
merits in the settled action, suit or proceeding.

 

(f)            The
Company shall not settle any Proceeding (or any part thereof) in a manner that imposes any penalty or liability on Indemnitee not
paid by the Company without Indemnitee’s prior written consent, which shall not be unreasonably withheld, conditioned or
delayed.

 

8.             Procedures
upon Application for Indemnification.

 

(a)           To
obtain indemnification, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation
and information as is reasonably available to Indemnitee and as is reasonably necessary to determine whether and to what extent
Indemnitee is entitled to indemnification following the final disposition of the Proceeding. Any delay in providing the request
will not relieve the Company from its obligations under this Agreement, except to the extent such failure is prejudicial.

 

(b)            Upon
written request by Indemnitee for indemnification pursuant to Section 8(a), a determination with respect to Indemnitee’s
entitlement thereto shall be made as follows, provided that a Change in Control shall not have occurred: (i) by a majority
vote of the Disinterested Directors, even though less than a quorum of the Company’s board of directors; (ii) by a committee
of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the
Company’s board of directors; (iii) if there are no such Disinterested Directors or, if a majority of Disinterested
Directors so direct, by Independent Counsel in a written opinion to the Company’s board of directors, a copy of which shall
be delivered to Indemnitee; or (iv) if so directed by the Company’s board of directors, by the stockholders of the Company.
If a Change in Control shall have occurred, then a determination with respect to Indemnitee’s entitlement to indemnification
shall be made by Independent Counsel in a written opinion to the Company’s board of directors, a copy of which shall be delivered
to Indemnitee. If it is determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within 10
days after such determination. Indemnitee shall cooperate with the person, persons or entity making the determination with respect
to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance
request any documentation or information that is not privileged or otherwise protected from disclosure and that is reasonably available
to Indemnitee and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements)
actually and reasonably incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall
be borne by the Company, to the extent permitted by applicable law.

 

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(c)            In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 8(b),
the Independent Counsel shall be selected as provided in this Section 8(c). If a Change in Control shall not have occurred,
the Independent Counsel shall be selected by the Company’s board of directors, and the Company shall give written notice
to Indemnitee advising him or her of the identity of the Independent Counsel so selected. If a Change in Control shall have occurred,
the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Company’s
board of directors, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company
advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case
may be, may, within 10 days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee,
as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground
that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 1,
and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection,
the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent
Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined
that such objection is without merit. If, within 20 days after the later of (i) submission by Indemnitee of a written request
for indemnification pursuant to Section 8(a) and (ii) the final disposition of the Proceeding, the parties have
not agreed upon an Independent Counsel, either the Company or Indemnitee may petition a court of competent jurisdiction for resolution
of any objection that shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and
for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate,
and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel
under Section 8(b). Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 10(a), the
Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable
standards of professional conduct then prevailing).

 

(d)           The
Company shall pay the reasonable fees and expenses of any Independent Counsel and to fully indemnify such counsel against any and
all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

 

9.             Presumptions
and Effect of Certain Proceedings.

 

(a)            In
making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement,
and the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption by clear
and convincing evidence.

 

(b)           The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a
plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself
adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and
in a manner that he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to
any criminal Proceeding, that Indemnitee had reasonable cause to believe that his or her conduct was unlawful.

 

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(c)            For
purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith to the extent Indemnitee
relied in good faith on (i) the records or books of account of the Enterprise, including financial statements, (ii) information
supplied to Indemnitee by the officers of the Enterprise in the course of their duties, (iii) the advice of legal counsel
for the Enterprise or its board of directors or counsel selected by any committee of the board of directors or (iv) information
or records given or reports made to the Enterprise by an independent certified public accountant, an appraiser, investment banker
or other expert selected with reasonable care by the Enterprise or its board of directors or any committee of the board of directors.
The provisions of this Section 9(c) shall not be deemed to be exclusive or to limit in any way the other circumstances
in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

 

(d)            Neither
the knowledge, actions nor failure to act of any other director, officer, agent or employee of the Enterprise shall be imputed
to Indemnitee for purposes of determining the right to indemnification under this Agreement.

 

10.           Remedies
of Indemnitee.

 

(a)            Subject
to Section 10(e), in the event that (i) a determination is made pursuant to Section 9 that Indemnitee is not entitled
to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 6 or 10(d),
(iii) no determination of entitlement to indemnification shall have been made pursuant to Section 8 within 30 days after
the later of the receipt by the Company of the request for indemnification or the final disposition of the Proceeding, (iv) payment
of indemnification pursuant to this Agreement is not made (A) within ten days after a determination has been made that Indemnitee
is entitled to indemnification or (B) with respect to indemnification pursuant to Sections 4, 5 and 10(d), within 30 days
after receipt by the Company of a written request therefor, or (v) the Company or any other person or entity takes or threatens
to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding
designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder, Indemnitee
shall be entitled to an adjudication by a court of competent jurisdiction of his or her entitlement to such indemnification or
advancement of Expenses. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration with respect to
his or her entitlement to such indemnification or advancement of Expenses, to be conducted by a single arbitrator pursuant to the
Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding seeking an
adjudication or an award in arbitration within 12 months following the date on which Indemnitee first has the right to commence
such proceeding pursuant to this Section 10(a); provided, however, that the foregoing clause shall not apply in respect
of a proceeding brought by Indemnitee to enforce his or her rights under Section 4. The Company shall not oppose Indemnitee’s
right to seek any such adjudication or award in arbitration in accordance with this Agreement.

 

(b)            Neither
(i) the failure of the Company, its board of directors, any committee or subgroup of the board of directors, Independent
Counsel or stockholders to have made a determination that indemnification of Indemnitee is proper in the circumstances because
Indemnitee has met the applicable standard of conduct, nor (ii) an actual determination by the Company, its board of directors,
any committee or subgroup of the board of directors, Independent Counsel or stockholders that Indemnitee has not met the applicable
standard of conduct, shall create a presumption that Indemnitee has or has not met the applicable standard of conduct. In the event
that a determination shall have been made pursuant to Section 8 that Indemnitee is not entitled to indemnification, any judicial
proceeding or arbitration commenced pursuant to this Section 10 shall be conducted in all respects as a de novo trial,
or arbitration, on the merits, and Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial
proceeding or arbitration commenced pursuant to this Section 10, the Company shall, to the fullest extent not prohibited by
law, have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be, and
the burden of proof shall be by clear and convincing evidence.

 

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(c)            To
the fullest extent not prohibited by law, the Company shall be precluded from asserting in any judicial proceeding or arbitration
commenced pursuant to this Section 10 that the procedures and presumptions of this Agreement are not valid, binding and enforceable
and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.
If a determination shall have been made pursuant to Section 10 that Indemnitee is entitled to indemnification, the Company
shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 10, absent
(i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statements not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

(d)            To
the extent not prohibited by law, the Company shall indemnify Indemnitee against all Expenses incurred by Indemnitee in connection
with any action for indemnification or advancement of Expenses from the Company under this Agreement, any other agreement, the
Company’s certificate of incorporation or bylaws or under any directors’ and officers’ liability insurance policies
maintained by the Company to the extent Indemnitee is successful in such action, and, if requested by Indemnitee, shall (as soon
as reasonably practicable, but in any event no later than 30 days, after receipt by the Company of a written request therefor)
advance such Expenses to Indemnitee, subject to the provisions of Section 6. Indemnitee hereby undertakes to repay such advances
to the extent the Indemnitee is ultimately unsuccessful in such action or arbitration.

 

(e)            Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement to indemnification shall be required to be made
prior to the final disposition of the Proceeding.

 

11.           Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to
Indemnitee, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amounts incurred by Indemnitee, whether for
Expenses, judgments, fines or amounts paid or to be paid in settlement, in connection with any claim relating to an indemnifiable
event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding
in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the events and transactions
giving rise to such Proceeding; and (ii) the relative fault of Indemnitee and the Company (and its other directors, officers,
employees and agents) in connection with such events and transactions.

 

12.           Non-Exclusivity.
The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive
of any other rights to which Indemnitee may at any time be entitled under applicable law, the Company’s certificate of incorporation
or bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. To the extent that a change in Delaware
law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded
currently under the Company’s certificate of incorporation and bylaws and this Agreement, it is the intent of the parties
hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change, subject to the restrictions
expressly set forth herein or therein. Except as expressly set forth herein, no right or remedy herein conferred is intended to
be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. Except as expressly set forth herein,
the assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment
of any other right or remedy.

 

    9

     

    

 

13.           Primary
Responsibility. The Company acknowledges that to the extent Indemnitee is serving
as a director on the Company’s board of directors at the request or direction of a private equity or venture capital fund
or other entity and/or certain of its affiliates (collectively, the “Secondary Indemnitors”), Indemnitee
may have certain rights to indemnification and advancement of expenses provided by such Secondary Indemnitors. The Company agrees
that, as between the Company and the Secondary Indemnitors, the Company is primarily responsible for amounts required to be indemnified
or advanced under the Company’s certificate of incorporation or bylaws or this Agreement and any obligation of the Secondary
Indemnitors to provide indemnification or advancement for the same amounts is secondary to those Company obligations. To the extent
not in contravention of any insurance policy or policies providing liability or other insurance for the Company or any director,
trustee, general partner, managing member, officer, employee, agent or fiduciary of the Company or any other Enterprise, the Company
waives any right of contribution or subrogation against the Secondary Indemnitors with respect to the liabilities for which the
Company is primarily responsible under this Section 13. In the event of any payment by the Secondary Indemnitors of amounts
otherwise required to be indemnified or advanced by the Company under the Company’s certificate of incorporation or bylaws
or this Agreement, the Secondary Indemnitors shall be subrogated to the extent of such payment to all of the rights of recovery
of Indemnitee for indemnification or advancement of expenses under the Company’s certificate of incorporation or bylaws or
this Agreement or, to the extent such subrogation is unavailable and contribution is found to be the applicable remedy, shall have
a right of contribution with respect to the amounts paid. The Secondary Indemnitors are express third-party beneficiaries
of the terms of this Section 13.

 

14.           No
Duplication of Payments. Subject to Section 13, the Company shall not be liable under this Agreement to make any payment
of amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if and to the extent that Indemnitee
has otherwise actually received payment for such amounts under any insurance policy, contract, agreement or otherwise.

 

15.           Insurance.
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, trustees,
general partners, managing members, officers, employees, agents or fiduciaries of the Company or any other Enterprise, Indemnitee
shall be covered by such policy or policies to the same extent as the most favorably-insured persons under such policy or policies
in a comparable position.

 

16.           Subrogation.
Subject to Section 13, in the event of any payment under this Agreement, the Company shall be subrogated to the extent of
such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary
to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such
rights.

 

17.           Services
to the Company. Indemnitee agrees to serve as a director or officer of the Company or, at the request of the Company, as a
director, trustee, general partner, managing member, officer, employee, agent or fiduciary of another Enterprise, for so long as
Indemnitee is duly elected or appointed or until Indemnitee tenders his or her resignation or is removed from such position. Indemnitee
may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed
by operation of law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee in such position.
This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and
Indemnitee. Indemnitee specifically acknowledges that any employment with the Company (or any of its subsidiaries or any Enterprise)
is at will, and Indemnitee may be discharged at any time for any reason, with or without cause, with or without notice, except
as may be otherwise expressly provided in any executed, written employment contract between Indemnitee and the Company (or any
of its subsidiaries or any Enterprise), any existing formal severance policies adopted by the Company’s board of directors
or, with respect to service as a director or officer of the Company, the Company’s certificate of incorporation or bylaws
or the DGCL. No such document shall be subject to any oral modification thereof.

 

    10

     

    

 

18.           Duration.
All agreements and obligations of the Company contained herein will continue during the period Indemnitee is an Agent of the Company
(or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise) and will continue thereafter so long as Indemnitee will be subject to any proceeding
by reason of his or her corporate status as an Agent, whether or not he or she is acting or serving in any such capacity at the
time any liability or expense is incurred for which indemnification can be provided under this Agreement.

 

19.           Successors.
This Agreement shall be binding upon the Company and its successors and assigns, including any direct or indirect successor, by
purchase, merger, consolidation or otherwise, to all or substantially all of the business or assets of the Company, and shall inure
to the benefit of Indemnitee and Indemnitee’s heirs, executors and administrators. Further, the Company shall require and
cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all of
the business or assets of the Company, by written agreement, expressly to assume and agree to perform this Agreement in the same
manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 

20.           Severability.
Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in
violation of applicable law. The Company’s inability, pursuant to court order or other applicable law, to perform its obligations
under this Agreement shall not constitute a breach of this Agreement. If any provision or provisions of this Agreement shall be
held to be invalid, illegal or unenforceable for any reason whatsoever: (i) the validity, legality and enforceability of the
remaining provisions of this Agreement (including without limitation, each portion of any section of this Agreement containing
any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not
in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (ii) such
provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect
to the intent of the parties hereto; and (iii) to the fullest extent possible, the provisions of this Agreement (including,
without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or
unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested
thereby.

 

21.            Enforcement.
The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is
relying upon this Agreement in serving as a director or officer of the Company.

 

22.           Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof
and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the
subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Company’s
certificate of incorporation and bylaws and applicable law.

 

23.           Modification
and Waiver. No supplement, modification or amendment to this Agreement shall be binding unless executed in writing by the parties
hereto. No amendment, alteration or repeal of this Agreement shall adversely affect any right of Indemnitee under this Agreement
in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration
or repeal. No waiver of any of the provisions of this Agreement shall constitute or be deemed a waiver of any other provision of
this Agreement nor shall any waiver constitute a continuing waiver.

 

    11

     

    

 

24.           Notices.
All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified
mail, postage prepaid, sent by facsimile or electronic mail or otherwise delivered by hand, messenger or courier service addressed:

 

(a)            if
to Indemnitee, to Indemnitee’s address, facsimile number or electronic mail address as shown on the signature page of
this Agreement or in the Company’s records, as may be updated in accordance with the provisions hereof; or

 

(b)            if
to the Company, to IN8bio, Inc., 79 Madison Avenue, New York, NY 10016, Attention: Chief Executive Officer, or at such other
current address as the Company shall have furnished to Indemnitee, with a copy to Cooley LLP, 55 Hudson Yards, New York, NY 10001,
Attention: Joshua A. Kaufman and Jaime L. Chase.

 

Each such notice or
other communication shall for all purposes of this Agreement be treated as effective or having been given (i) if delivered
by hand, messenger or courier service, when delivered (or if sent via a nationally-recognized overnight courier service,
freight prepaid, specifying next-business-day delivery, one business day after deposit with the courier), or (ii) if sent
via mail, at the earlier of its receipt or five days after the same has been deposited in a regularly-maintained receptacle for
the deposit of the United States mail, addressed and mailed as aforesaid, or (iii) if sent via facsimile, upon confirmation
of facsimile transfer or, if sent via electronic mail, upon confirmation of delivery when directed to the relevant electronic mail
address, if sent during normal business hours of the recipient, or if not sent during normal business hours of the recipient, then
on the recipient’s next business day.

 

25.           Applicable
Law and Consent to Jurisdiction. This Agreement shall be governed by, and construed and enforced in accordance with, the laws
of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee
pursuant to Section 10(a), the Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action
or proceeding arising out of or in connection with this Agreement shall be brought only in the Delaware Court of Chancery, and
not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to
submit to the exclusive jurisdiction of the Delaware Court of Chancery for purposes of any action or proceeding arising out of
or in connection with this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process
in the State of Delaware, The Corporation Trust Company, Wilmington, Delaware as its agent in the State of Delaware as such party’s
agent for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force
and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying
of venue of any such action or proceeding in the Delaware Court of Chancery, and (v) waive, and agree not to plead or to make,
any claim that any such action or proceeding brought in the Delaware Court of Chancery has been brought in an improper or inconvenient
forum.

 

26.           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall for all purposes be deemed to be an original but
all of which together shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile
signature and in counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall
constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs
to be produced to evidence the existence of this Agreement.

 

27.           Captions.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction thereof.

 

(signature page follows)

 

    12

     

    

 

The parties are signing
this Indemnification Agreement as of the date stated in the introductory sentence.

 

		IN8Bio, Inc.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	         

 

 

		[indemnitee name]
	 	 	 
	 	Address:	    
	 	 	 

 

[Signature
Page to Indemnification Agreement]Exhibit 10.4

 

IN8BIO, Inc.

2020
Equity Incentive Plan

 

Adopted
by the Board of Directors: _______, 2020

Approved
by the Stockholders: _______, 2020

IPO
Date: ______, 2020

 

1.            General.

 

(a)            Successor
to and Continuation of Prior Plan. The Plan is the successor to and continuation of the Prior Plan. As of the Effective Date,
(i) no additional awards may be granted under the Prior Plan; (ii) the Prior Plan’s Available Reserve (plus any
Returning Shares) will become available for issuance pursuant to Awards granted under this Plan; and (iii) all outstanding
awards granted under the Prior Plan will remain subject to the terms of the Prior Plan (except to the extent such outstanding awards
result in Returning Shares that become available for issuance pursuant to Awards granted under this Plan). All Awards granted under
this Plan will be subject to the terms of this Plan.

 

(b)            Plan
Purpose. The Company, by means of the Plan, seeks to secure and retain the services of Employees, Directors and Consultants,
to provide incentives for such persons to exert maximum efforts for the success of the Company and any Affiliate and to provide
a means by which such persons may be given an opportunity to benefit from increases in value of the Common Stock through the granting
of Awards.

 

(c)            Available
Awards. The Plan provides for the grant of the following Awards: (i) Incentive Stock Options; (ii) Nonstatutory Stock
Options; (iii) SARs; (iv) Restricted Stock Awards; (v) RSU Awards; (vi) Performance Awards; and (vii) Other
Awards.

 

(d)            Adoption
Date; Effective Date.  The Plan will come into existence on the Adoption Date, but no Award may be granted prior to the Effective
Date.

 

2.            Shares
Subject to the Plan.

 

(a)            Share
Reserve. Subject to adjustment in accordance with Section 2(c) and any adjustments as necessary to implement any
Capitalization Adjustments, the aggregate number of shares of Common Stock that may be issued pursuant to Awards will not exceed
________ shares, which number is the sum of: (i) ________ new shares, plus (ii) a number of shares of Common Stock equal
to the Prior Plan’s Available Reserve, plus (iii) a number of shares of Common Stock equal to the number of Returning
Shares, if any, as such shares become available from time to time. In addition, subject to any adjustments as necessary
to implement any Capitalization Adjustments, such aggregate number of shares of Common Stock will automatically increase on January 1
of each year for a period of ten years commencing on January 1, 2021 and ending on (and including) January 1, 2030,
in an amount equal to 5% of the total number of shares of Common Stock outstanding on December 31 of the preceding year;
provided, however, that the Board may act prior to January 1st of a given year to provide that the increase for
such year will be a lesser number of shares of Common Stock.

 

(b)            Aggregate
Incentive Stock Option Limit. Notwithstanding anything to the contrary in Section 2(a) and subject to any adjustments
as necessary to implement any Capitalization Adjustments, the aggregate maximum number of shares of Common Stock that may be issued
pursuant to the exercise of Incentive Stock Options is _________ shares.

 

     

     

    

 

(c)           Share
Reserve Operation.

 

(i)            Limit
Applies to Common Stock Issued Pursuant to Awards. For clarity, the Share Reserve is a limit on the number of shares of Common
Stock that may be issued pursuant to Awards and does not limit the granting of Awards, except that the Company will keep available
at all times the number of shares of Common Stock reasonably required to satisfy its obligations to issue shares pursuant to such
Awards. Shares may be issued in connection with a merger or acquisition as permitted by, as applicable, Nasdaq Listing Rule 5635(c),
NYSE Listed Company Manual Section 303A.08, NYSE American Company Guide Section 711 or other applicable rule, and such
issuance will not reduce the number of shares available for issuance under the Plan.

 

(ii)            Actions
that Do Not Constitute Issuance of Common Stock and Do Not Reduce Share Reserve. The following actions do not result in an
issuance of shares under the Plan and accordingly do not reduce the number of shares subject to the Share Reserve and available
for issuance under the Plan: (1) the expiration or termination of any portion of an Award without the shares covered by such
portion of the Award having been issued, (2) the settlement of any portion of an Award in cash (i.e., the Participant receives
cash rather than Common Stock), (3) the withholding of shares that would otherwise be issued by the Company to satisfy the
exercise, strike or purchase price of an Award; or (4) the withholding of shares that would otherwise be issued by the Company
to satisfy a tax withholding obligation in connection with an Award.

 

(iii)            Reversion
of Previously Issued Shares of Common Stock to Share Reserve. The following shares of Common Stock previously issued pursuant
to an Award and accordingly initially deducted from the Share Reserve will be added back to the Share Reserve and again become
available for issuance under the Plan: (1) any shares that are forfeited back to or repurchased by the Company because of
a failure to meet a contingency or condition required for the vesting of such shares; (2) any shares that are reacquired by
the Company to satisfy the exercise, strike or purchase price of an Award; and (3) any shares that are reacquired by the Company
to satisfy a tax withholding obligation in connection with an Award.

 

3.            Eligibility
and Limitations.

 

(a)           Eligible
Award Recipients. Subject to the terms of the Plan, Employees, Directors and Consultants are eligible to receive Awards.

 

(b)           Specific
Award Limitations.

 

(i)            Limitations
on Incentive Stock Option Recipients. Incentive Stock Options may be granted only to Employees of the Company or a “parent
corporation” or “subsidiary corporation” thereof (as such terms are defined in Sections 424(e) and (f) of
the Code).

 

(ii)            Incentive
Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of grant) of Common
Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar
year (under all plans of the Company and any Affiliates) exceeds $100,000 (or such other limit established in the Code) or otherwise
does not comply with the rules governing Incentive Stock Options, the Options or portions thereof that exceed such limit (according
to the order in which they were granted) or otherwise do not comply with such rules will be treated as Nonstatutory Stock
Options, notwithstanding any contrary provision of the applicable Option Agreement(s).

 

    	 	2	 

     

    

 

(iii)            Limitations
on Incentive Stock Options Granted to Ten Percent Stockholders. A Ten Percent Stockholder may not be granted an Incentive Stock
Option unless (i) the exercise price of such Option is at least 110% of the Fair Market Value on the date of grant of such
Option and (ii) the Option is not exercisable after the expiration of five years from the date of grant of such Option.

 

(iv)            Limitations
on Nonstatutory Stock Options and SARs. Nonstatutory Stock Options and SARs may not be granted to Employees, Directors and
Consultants who are providing Continuous Service only to any “parent” of the Company (as such term is defined in Rule 405)
unless the stock underlying such Awards is treated as “service recipient stock” under Section 409A because the
Awards are granted pursuant to a corporate transaction (such as a spin off transaction) or unless such Awards otherwise comply
with the distribution requirements of Section 409A.

 

(c)            Aggregate
Incentive Stock Option Limit. The aggregate maximum number of shares of Common Stock that may be issued pursuant to the exercise
of Incentive Stock Options is the number of shares specified in Section 2(b).

 

(d)            Non-Employee
Director Compensation Limit.  The aggregate value of all compensation granted or paid, as applicable, in each case following
the IPO Date, to any individual for service as a Non-Employee Director with respect to any fiscal year, including Awards granted
and cash fees paid by the Company to such Non-Employee Director for his or her service as a Non-Employee Director, will not exceed
(i) $700,000 in total value or (ii) in the event such Non-Employee Director is first appointed or elected to the Board
during such fiscal year, $1,000,000 in total value, in each case calculating the value of any stock awards based on the grant date
fair value of such stock awards for financial reporting purposes.

 

4.            Options
and Stock Appreciation Rights.

 

Each Option and SAR
will have such terms and conditions as determined by the Board. Each Option will be designated in writing as an Incentive Stock
Option or Nonstatutory Stock Option at the time of grant; provided, however, that if an Option is not so designated, then such
Option will be a Nonstatutory Stock Option, and the shares purchased upon exercise of each type of Option will be separately accounted
for. Each SAR will be denominated in shares of Common Stock equivalents. The terms and conditions of separate Options and SARs
need not be identical; provided, however, that each Option Agreement and SAR Agreement will conform (through incorporation of provisions
hereof by reference in the Award Agreement or otherwise) to the substance of each of the following provisions:

 

(a)            Term.
Subject to Section 3(b) regarding Ten Percent Stockholders, no Option or SAR will be exercisable after the expiration
of ten years from the date of grant of such Award or such shorter period specified in the Award Agreement.

 

(b)            Exercise
or Strike Price. Subject to Section 3(b) regarding Ten Percent Stockholders, the exercise or strike price of each
Option or SAR will not be less than 100% of the Fair Market Value on the date of grant of such Award. Notwithstanding the foregoing,
an Option or SAR may be granted with an exercise or strike price lower than 100% of the Fair Market Value on the date of grant
of such Award if such Award is granted pursuant to an assumption of or substitution for another option or stock appreciation right
pursuant to a Corporate Transaction and in a manner consistent with the provisions of Sections 409A and, if applicable, 424(a) of
the Code.

 

    	 	3	 

     

    

 

(c)           Exercise
Procedure and Payment of Exercise Price for Options. In order to exercise an Option, the Participant must provide notice of
exercise to the Plan Administrator in accordance with the procedures specified in the Option Agreement or otherwise provided by
the Company. The Board has the authority to grant Options that do not permit all of the following methods of payment (or otherwise
restrict the ability to use certain methods) and to grant Options that require the consent of the Company to utilize a particular
method of payment. The exercise price of an Option may be paid, to the extent permitted by Applicable Law and as determined by
the Board, by one or more of the following methods of payment to the extent set forth in the Option Agreement:

 

(i)            by
cash or check, bank draft or money order payable to the Company;

 

(ii)            pursuant
to a “cashless exercise” program developed under Regulation T as promulgated by the U.S. Federal Reserve Board that,
prior to the issuance of the Common Stock subject to the Option, results in either the receipt of cash (or check) by the Company
or the receipt of irrevocable instructions to pay the exercise price to the Company from the sales proceeds;

 

(iii)            by
delivery to the Company (either by actual delivery or attestation) of shares of Common Stock that are already owned by the Participant
free and clear of any liens, claims, encumbrances or security interests, with a Fair Market Value on the date of exercise that
does not exceed the exercise price, provided that (1) at the time of exercise the Common Stock is publicly traded, (2) any
remaining balance of the exercise price not satisfied by such delivery is paid by the Participant in cash or other permitted form
of payment, (3) such delivery would not violate any Applicable Law or agreement restricting the redemption of the Common Stock,
(4) any certificated shares are endorsed or accompanied by an executed assignment separate from certificate, and (5) such
shares have been held by the Participant for any minimum period necessary to avoid adverse accounting treatment as a result of
such delivery;

 

(iv)            if
the Option is a Nonstatutory Stock Option, by a “net exercise” arrangement pursuant to which the Company will reduce
the number of shares of Common Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value on the
date of exercise that does not exceed the exercise price, provided that (1) such shares used to pay the exercise price will
not be exercisable thereafter and (2) any remaining balance of the exercise price not satisfied by such net exercise is paid
by the Participant in cash or other permitted form of payment; or

 

(v)            in
any other form of consideration that may be acceptable to the Board and permissible under Applicable Law.

 

(d)            Exercise
Procedure and Payment of Appreciation Distribution for SARs. In order to exercise any SAR, the Participant must provide notice
of exercise to the Plan Administrator in accordance with the SAR Agreement. The appreciation distribution payable to a Participant
upon the exercise of a SAR will not be greater than an amount equal to the excess of (i) the aggregate Fair Market Value on
the date of exercise of a number of shares of Common Stock equal to the number of Common Stock equivalents that are vested and
being exercised under such SAR, over (ii) the strike price of such SAR. Such appreciation distribution may be paid to the
Participant in the form of Common Stock or cash (or any combination of Common Stock and cash) or in any other form of payment,
as determined by the Board and specified in the SAR Agreement.

 

(e)            Transferability.
Options and SARs may not be transferred to third party financial institutions for value. The Board may impose such additional limitations
on the transferability of an Option or SAR as it determines. In the absence of any such determination by the Board, the following
restrictions on the transferability of Options and SARs will apply, provided that except as explicitly provided herein, neither
an Option nor a SAR may be transferred for consideration and provided, further, that if an Option is an Incentive Stock Option,
such Option may be deemed to be a Nonstatutory Stock Option as a result of such transfer:

 

    	 	4	 

     

    

 

(i)            Restrictions
on Transfer. An Option or SAR will not be transferable, except by will or by the laws of descent and distribution, and will
be exercisable during the lifetime of the Participant only by the Participant; provided, however, that the Board may permit transfer
of an Option or SAR in a manner that is not prohibited by applicable tax and securities laws upon the Participant’s request,
including to a trust if the Participant is considered to be the sole beneficial owner of such trust (as determined under Section 671
of the Code and applicable U.S. state law) while such Option or SAR is held in such trust, provided that the Participant and the
trustee enter into a transfer and other agreements required by the Company.

 

(ii)            Domestic
Relations Orders. Notwithstanding the foregoing, subject to the execution of transfer documentation in a format acceptable
to the Company and subject to the approval of the Board or a duly authorized Officer, an Option or SAR may be transferred pursuant
to a domestic relations order.

 

(f)            Vesting.
The Board may impose such restrictions on or conditions to the vesting and/or exercisability of an Option or SAR as determined
by the Board. Except as otherwise provided in the applicable Award Agreement or other written agreement between a Participant and
the Company, vesting of Options and SARs will cease upon termination of the Participant’s Continuous Service.

 

(g)            Termination
of Continuous Service for Cause. Except as explicitly otherwise provided in the Award Agreement or other written agreement
between a Participant and the Company, if a Participant’s Continuous Service is terminated for Cause, the Participant’s
Options and SARs will terminate and be forfeited immediately upon such termination of Continuous Service, and the Participant will
be prohibited from exercising any portion (including any vested portion) of such Awards on and after the date of such termination
of Continuous Service and the Participant will have no further right, title or interest in such forfeited Award, the shares of
Common Stock subject to the forfeited Award, or any consideration in respect of the forfeited Award.

 

(h)            Post-Termination
Exercise Period Following Termination of Continuous Service for Reasons Other than Cause. Subject to Section 4(i), if
a Participant’s Continuous Service terminates for any reason other than for Cause, the Participant may exercise his or her
Option or SAR to the extent vested, but only within the following period of time or, if applicable, such other period of time provided
in the Award Agreement or other written agreement between a Participant and the Company; provided, however, that in no event may
such Award be exercised after the expiration of its maximum term (as set forth in Section 4(a)):

 

(i)            three
months following the date of such termination if such termination is a termination without Cause (other than any termination due
to the Participant’s Disability or death);

 

(ii)            12
months following the date of such termination if such termination is due to the Participant’s Disability;

 

(iii)            18
months following the date of such termination if such termination is due to the Participant’s death; or

 

(iv)            18
months following the date of the Participant’s death if such death occurs following the date of such termination but during
the period such Award is otherwise exercisable (as provided in (i) or (ii) above).

 

    	 	5	 

     

    

 

Following the date of such termination,
to the extent the Participant does not exercise such Award within the applicable Post-Termination Exercise Period (or, if earlier,
prior to the expiration of the maximum term of such Award), such unexercised portion of the Award will terminate, and the Participant
will have no further right, title or interest in terminated Award, the shares of Common Stock subject to the terminated Award,
or any consideration in respect of the terminated Award.

 

(i)            Restrictions
on Exercise; Extension of Exercisability. A Participant may not exercise an Option or SAR at any time that the issuance of
shares of Common Stock upon such exercise would violate Applicable Law. Except as otherwise provided in the Award Agreement or
other written agreement between a Participant and the Company, if a Participant’s Continuous Service terminates for any reason
other than for Cause and, at any time during the last thirty days of the applicable Post-Termination Exercise Period: (i) the
exercise of the Participant’s Option or SAR would be prohibited solely because the issuance of shares of Common Stock upon
such exercise would violate Applicable Law, or (ii) the immediate sale of any shares of Common Stock issued upon such exercise
would violate the Company’s Trading Policy, then the applicable Post-Termination Exercise Period will be extended to the
last day of the calendar month that commences following the date the Award would otherwise expire, with an additional extension
of the exercise period to the last day of the next calendar month to apply if any of the foregoing restrictions apply at any time
during such extended exercise period, generally without limitation as to the maximum permitted number of extensions; provided,
however, that in no event may such Award be exercised after the expiration of its maximum term (as set forth in Section 4(a)).

 

(j)            Non-Exempt
Employees. No Option or SAR, whether or not vested, granted to an Employee who is a non-exempt employee for purposes of the
Fair Labor Standards Act of 1938, as amended, will be first exercisable for any shares of Common Stock until at least six months
following the date of grant of such Award. Notwithstanding the foregoing, in accordance with the provisions of the Worker Economic
Opportunity Act, any vested portion of such Award may be exercised earlier than six months following the date of grant of such
Award in the event of (i) such Participant’s death or Disability, (ii) a Corporate Transaction in which such Award
is not assumed, continued or substituted, (iii) a Change in Control, or (iv) such Participant’s retirement (as
such term may be defined in the Award Agreement or another applicable agreement or, in the absence of any such definition, in accordance
with the Company’s then current employment policies and guidelines). This Section 4(j) is intended to operate so
that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option or SAR will be exempt
from his or her regular rate of pay.

 

(k)           Whole
Shares. Options and SARs may be exercised only with respect to whole shares of Common Stock or their equivalents.

 

5.            Awards
Other Than Options and Stock Appreciation Rights.

 

(a)           Restricted
Stock Awards and RSU Awards. Each Restricted Stock Award and RSU Award will have such terms and conditions as determined by
the Board; provided, however, that each Restricted Stock Award Agreement and RSU Award Agreement will conform (through incorporation
of the provisions hereof by reference in the Award Agreement or otherwise) to the substance of each of the following provisions:

 

(i)            Form of
Award.

 

(1)            RSAs:
To the extent consistent with the Company’s Bylaws, at the Board’s election, shares of Common Stock subject to a Restricted
Stock Award may be (i) held in book entry form subject to the Company’s instructions until such shares become vested
or any other restrictions lapse, or (ii) evidenced by a certificate, which certificate will be held in such form and manner
as determined by the Board. Unless otherwise determined by the Board, a Participant will have voting and other rights as a stockholder
of the Company with respect to any shares subject to a Restricted Stock Award.

 

    	 	6	 

     

    

 

(2)            RSUs:
A RSU Award represents a Participant’s right to be issued on a future date the number of shares of Common Stock that is equal
to the number of restricted stock units subject to the RSU Award. As a holder of a RSU Award, a Participant is an unsecured creditor
of the Company with respect to the Company's unfunded obligation, if any, to issue shares of Common Stock in settlement of such
Award and nothing contained in the Plan or any RSU Agreement, and no action taken pursuant to its provisions, will create or be
construed to create a trust of any kind or a fiduciary relationship between a Participant and the Company or an Affiliate or any
other person. A Participant will not have voting or any other rights as a stockholder of the Company with respect to any RSU Award
(unless and until shares are actually issued in settlement of a vested RSU Award).

 

(ii)           Consideration.

 

(1)            RSA:
A Restricted Stock Award may be granted in consideration for (A) cash or check, bank draft or money order payable to the Company,
(B) past services to the Company or an Affiliate, or (C) any other form of consideration as the Board may determine and
permissible under Applicable Law.

 

(2)            RSU:
Unless otherwise determined by the Board at the time of grant, a RSU Award will be granted in consideration for the Participant’s
services to the Company or an Affiliate, such that the Participant will not be required to make any payment to the Company (other
than such services) with respect to the grant or vesting of the RSU Award, or the issuance of any shares of Common Stock pursuant
to the RSU Award. If, at the time of grant, the Board determines that any consideration must be paid by the Participant (in a form
other than the Participant’s services to the Company or an Affiliate) upon the issuance of any shares of Common Stock in
settlement of the RSU Award, such consideration may be paid in any form of consideration as the Board may determine and permissible
under Applicable Law.

 

(iii)         Vesting.
The Board may impose such restrictions on or conditions to the vesting of a Restricted Stock Award or RSU Award as determined
by the Board. Except as otherwise provided in the Award Agreement or other written agreement between a Participant and the Company
or an Affiliate, vesting of Restricted Stock Awards and RSU Awards will cease upon termination of the Participant’s Continuous
Service.

 

(iv)          Termination
of Continuous Service. Except as otherwise provided in the Award Agreement or other written agreement between a Participant
and the Company, if a Participant’s Continuous Service terminates for any reason, (i) the Company may receive through
a forfeiture condition or a repurchase right any or all of the shares of Common Stock held by the Participant under his or her
Restricted Stock Award that have not vested as of the date of such termination as set forth in the Restricted Stock Award Agreement
and (ii) any portion of his or her RSU Award that has not vested will be forfeited upon such termination and the Participant
will have no further right, title or interest in the RSU Award, the shares of Common Stock issuable pursuant to the RSU Award,
or any consideration in respect of the RSU Award.

 

(v)           Dividends
and Dividend Equivalents. Dividends or dividend equivalents may be paid or credited, as applicable, with respect to any shares
of Common Stock subject to a Restricted Stock Award or RSU Award, as determined by the Board and specified in the Award Agreement).

 

    	 	7	 

     

    

 

(vi)          Settlement
of RSU Awards. A RSU Award may be settled by the issuance of shares of Common Stock or cash (or any combination thereof) or
in any other form of payment, as determined by the Board and specified in the RSU Award Agreement. At the time of grant, the Board
may determine to impose such restrictions or conditions that delay such delivery to a date following the vesting of the RSU Award.

 

(b)            Performance
Awards. With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during
the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance
Goals have been attained will be determined by the Board.

 

(c)            Other
Awards. Other Awards may be granted either alone or in addition to Awards provided for under Section 4 and the preceding
provisions of this Section 5. Subject to the provisions of the Plan, the Board will have sole and complete discretion to determine
the persons to whom and the time or times at which such Other Awards will be granted, the number of shares of Common Stock (or
the cash equivalent thereof) to be granted pursuant to such Other Awards and all other terms and conditions of such Other Awards.

 

6.            Adjustments
upon Changes in Common Stock; Other Corporate Events.

 

(a)            Capitalization
Adjustments. In the event of a Capitalization Adjustment, the Board shall appropriately and proportionately adjust: (i) the
class(es) and maximum number of shares of Common Stock subject to the Plan and the maximum number of shares by which the Share
Reserve may annually increase pursuant to Section 2(a), (ii) the class(es) and maximum number of shares that may be issued
pursuant to the exercise of Incentive Stock Options pursuant to Section 2(b), and (iii) the class(es) and number of securities
and exercise price, strike price or purchase price of Common Stock subject to outstanding Awards. The Board shall make such adjustments,
and its determination shall be final, binding and conclusive. Notwithstanding the foregoing, no fractional shares or rights for
fractional shares of Common Stock shall be created in order to implement any Capitalization Adjustment. The Board shall determine
an appropriate equivalent benefit, if any, for any fractional shares or rights to fractional shares that might be created by the
adjustments referred to in the preceding provisions of this Section.

 

(b)            Dissolution
or Liquidation. Except as otherwise provided in the Award Agreement, in the event of a dissolution or liquidation of the Company,
all outstanding Awards (other than Awards consisting of vested and outstanding shares of Common Stock not subject to a forfeiture
condition or the Company’s right of repurchase) will terminate immediately prior to the completion of such dissolution or
liquidation, and the shares of Common Stock subject to the Company’s repurchase rights or subject to a forfeiture condition
may be repurchased or reacquired by the Company notwithstanding the fact that the holder of such Award is providing Continuous
Service, provided, however, that the Board may determine to cause some or all Awards to become fully vested, exercisable and/or
no longer subject to repurchase or forfeiture (to the extent such Awards have not previously expired or terminated) before the
dissolution or liquidation is completed but contingent on its completion.

 

(c)            Corporate
Transaction. The following provisions will apply to Awards in the event of a Corporate Transaction except as set forth in Section 11,
and unless otherwise provided in the instrument evidencing the Award or any other written agreement between the Company or any
Affiliate and the Participant or unless otherwise expressly provided by the Board at the time of grant of an Award.

 

    	 	8	 

     

    

 

(i)           Awards
May Be Assumed. In the event of a Corporate Transaction, any surviving corporation or acquiring corporation (or the surviving
or acquiring corporation’s parent company) may assume or continue any or all Awards outstanding under the Plan or may substitute
similar awards for Awards outstanding under the Plan (including but not limited to, awards to acquire the same consideration paid
to the stockholders of the Company pursuant to the Corporate Transaction), and any reacquisition or repurchase rights held by the
Company in respect of Common Stock issued pursuant to Awards may be assigned by the Company to the successor of the Company (or
the successor’s parent company, if any), in connection with such Corporate Transaction. A surviving corporation or acquiring
corporation (or its parent) may choose to assume or continue only a portion of an Award or substitute a similar award for only
a portion of an Award, or may choose to assume or continue the Awards held by some, but not all Participants. The terms of any
assumption, continuation or substitution will be set by the Board.

 

(ii)          Awards
Held by Current Participants. In the event of a Corporate Transaction in which the surviving corporation or acquiring corporation
(or its parent company) does not assume or continue such outstanding Awards or substitute similar awards for such outstanding Awards,
then with respect to Awards that have not been assumed, continued or substituted and that are held by Participants whose Continuous
Service has not terminated prior to the effective time of the Corporate Transaction (referred to as the “Current Participants”),
the vesting of such Awards (and, with respect to Options and Stock Appreciation Rights, the time when such Awards may be exercised)
will be accelerated in full to a date prior to the effective time of such Corporate Transaction (contingent upon the effectiveness
of the Corporate Transaction) as the Board determines (or, if the Board does not determine such a date, to the date that is five
days prior to the effective time of the Corporate Transaction), and such Awards will terminate if not exercised (if applicable)
at or prior to the effective time of the Corporate Transaction, and any reacquisition or repurchase rights held by the Company
with respect to such Awards will lapse (contingent upon the effectiveness of the Corporate Transaction). With respect to the vesting
of Performance Awards that will accelerate upon the occurrence of a Corporate Transaction pursuant to this subsection (ii) and
that have multiple vesting levels depending on the level of performance, unless otherwise provided in the Award Agreement, the
vesting of such Performance Awards will accelerate at 100% of the target level upon the occurrence of the Corporate Transaction.
With respect to the vesting of Awards that will accelerate upon the occurrence of a Corporate Transaction pursuant to this subsection
(ii) and are settled in the form of a cash payment, such cash payment will be made no later than 30 days following the occurrence
of the Corporate Transaction.

 

(iii)        Awards
Held by Persons other than Current Participants. In the event of a Corporate Transaction in which the surviving corporation
or acquiring corporation (or its parent company) does not assume or continue such outstanding Awards or substitute similar awards
for such outstanding Awards, then with respect to Awards that have not been assumed, continued or substituted and that are held
by persons other than Current Participants, such Awards will terminate if not exercised (if applicable) prior to the occurrence
of the Corporate Transaction; provided, however, that any reacquisition or repurchase rights held by the Company with respect to
such Awards will not terminate and may continue to be exercised notwithstanding the Corporate Transaction.

 

(iv)          Payment
for Awards in Lieu of Exercise. Notwithstanding the foregoing, in the event an Award will terminate if not exercised prior
to the effective time of a Corporate Transaction, the Board may provide, in its sole discretion, that the holder of such Award
may not exercise such Award but will receive a payment, in such form as may be determined by the Board, equal in value, at the
effective time, to the excess, if any, of (1) the value of the property the Participant would have received upon the exercise
of the Award (including, at the discretion of the Board, any unvested portion of such Award), over (2) any exercise price
payable by such holder in connection with such exercise.

 

(d)            Appointment
of Stockholder Representative. As a condition to the receipt of an Award under this Plan, a Participant will be deemed to have
agreed that the Award will be subject to the terms of any agreement governing a Corporate Transaction involving the Company, including,
without limitation, a provision for the appointment of a stockholder representative that is authorized to act on the Participant’s
behalf with respect to any escrow, indemnities and any contingent consideration.

 

    	 	9	 

     

    

 

(e)            No
Restriction on Right to Undertake Transactions. The grant of any Award under the Plan and the issuance of shares pursuant to
any Award does not affect or restrict in any way the right or power of the Company or the stockholders of the Company to make or
authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business,
any merger or consolidation of the Company, any issue of stock or of options, rights or options to purchase stock or of bonds,
debentures, preferred or prior preference stocks whose rights are superior to or affect the Common Stock or the rights thereof
or which are convertible into or exchangeable for Common Stock, or the dissolution or liquidation of the Company, or any sale or
transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character
or otherwise.

 

7.            Administration.

 

(a)            Administration
by Board. The Board will administer the Plan unless and until the Board delegates administration of the Plan to a Committee
or Committees, as provided in subsection (c) below.

 

(b)            Powers
of Board. The Board will have the power, subject to, and within the limitations of, the express provisions of the Plan:

 

(i)            To
determine from time to time: (1) which of the persons eligible under the Plan will be granted Awards; (2) when and how
each Award will be granted; (3) what type or combination of types of Award will be granted; (4) the provisions of each
Award granted (which need not be identical), including the time or times when a person will be permitted to receive an issuance
of Common Stock or other payment pursuant to an Award; (5) the number of shares of Common Stock or cash equivalent with respect
to which an Award will be granted to each such person; (6) the Fair Market Value applicable to an Award; and (7) the
terms of any Performance Award that is not valued in whole or in part by reference to, or otherwise based on, the Common Stock,
including the amount of cash payment or other property that may be earned and the timing of payment.

 

(ii)           To
construe and interpret the Plan and Awards granted under it, and to establish, amend and revoke rules and regulations for
its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or
in any Award Agreement, in a manner and to the extent it deems necessary or expedient to make the Plan or Award fully effective.

 

(iii)          To
settle all controversies regarding the Plan and Awards granted under it.

 

(iv)           To
accelerate the time at which an Award may first be exercised or the time during which an Award or any part thereof will vest, notwithstanding
the provisions in the Award Agreement stating the time at which it may first be exercised or the time during which it will vest.

 

(v)            To
prohibit the exercise of any Option, SAR or other exercisable Award during a period of up to 30 days prior to the consummation
of any pending stock dividend, stock split, combination or exchange of shares, merger, consolidation or other distribution (other
than normal cash dividends) of Company assets to stockholders, or any other change affecting the shares of Common Stock or the
share price of the Common Stock including any Corporate Transaction, for reasons of administrative convenience.

 

    	 	10	 

     

    

 

(vi)           To
suspend or terminate the Plan at any time. Suspension or termination of the Plan will not Materially Impair rights and obligations
under any Award granted while the Plan is in effect except with the written consent of the affected Participant.

 

(vii)          To
amend the Plan in any respect the Board deems necessary or advisable; provided, however, that stockholder approval will be required
for any amendment to the extent required by Applicable Law. Except as provided above, rights under any Award granted before amendment
of the Plan will not be Materially Impaired by any amendment of the Plan unless (1) the Company requests the consent of the
affected Participant, and (2) such Participant consents in writing.

 

(viii)        To
submit any amendment to the Plan for stockholder approval.

 

(ix)           To
approve forms of Award Agreements for use under the Plan and to amend the terms of any one or more Awards, including, but not limited
to, amendments to provide terms more favorable to the Participant than previously provided in the Award Agreement, subject to any
specified limits in the Plan that are not subject to Board discretion; provided however, that, a Participant’s rights under
any Award will not be Materially Impaired by any such amendment unless (1) the Company requests the consent of the affected
Participant, and (2) such Participant consents in writing.

 

(x)           Generally,
to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests of the
Company and that are not in conflict with the provisions of the Plan or Awards.

 

(xi)           To
adopt such procedures and sub-plans as are necessary or appropriate to permit and facilitate participation in the Plan by, or take
advantage of specific tax treatment for Awards granted to, Employees, Directors or Consultants who are non-U.S. nationals or employed
outside the United States (provided that Board approval will not be necessary for immaterial modifications to the Plan or any Award
Agreement to ensure or facilitate compliance with the laws of the relevant non-U.S. jurisdiction).

 

(xii)         To
effect, at any time and from time to time, subject to the consent of any Participant whose Award is Materially Impaired by such
action, (1) the reduction of the exercise price (or strike price) of any outstanding Option or SAR; (2) the cancellation
of any outstanding Option or SAR and the grant in substitution therefor of (A) a new Option, SAR, Restricted Stock Award,
RSU Award or Other Award, under the Plan or another equity plan of the Company, covering the same or a different number of shares
of Common Stock, (B) cash and/or (C) other valuable consideration (as determined by the Board); or (3) any other
action that is treated as a repricing under generally accepted accounting principles.

 

(c)            Delegation
to Committee.

 

(i)            General.
The Board may delegate some or all of the administration of the Plan to a Committee or Committees. If administration of the Plan
is delegated to a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore
possessed by the Board that have been delegated to the Committee, including the power to delegate to another Committee or a subcommittee
of the Committee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board
will thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions
of the Plan, as may be adopted from time to time by the Board. Each Committee may retain the authority to concurrently administer
the Plan with the Committee or subcommittee to which it has delegated its authority hereunder and may, at any time, revest in such
Committee some or all of the powers previously delegated. The Board may retain the authority to concurrently administer the Plan
with any Committee and may, at any time, revest in the Board some or all of the powers previously delegated.

 

    	 	11	 

     

    

 

(ii)          Rule 16b-3
Compliance. To the extent an Award is intended to qualify for the exemption from Section 16(b) of the Exchange Act
that is available under Rule 16b-3 of the Exchange Act, the Award will be granted by the Board or a Committee that consists
solely of two or more Non-Employee Directors, as determined under Rule 16b-3(b)(3) of the Exchange Act and thereafter
any action establishing or modifying the terms of the Award will be approved by the Board or a Committee meeting such requirements
to the extent necessary for such exemption to remain available.

 

(d)            Effect
of Board’s Decision. All determinations, interpretations and constructions made by the Board or any Committee in good
faith will not be subject to review by any person and will be final, binding and conclusive on all persons.

 

(e)            Delegation
to an Officer. The Board or any Committee may delegate to one or more Officers the authority to do one or both of the following
(i) designate Employees who are not Officers to be recipients of Options and SARs (and, to the extent permitted by Applicable
Law, other types of Awards) and, to the extent permitted by Applicable Law, the terms thereof, and (ii) determine the number
of shares of Common Stock to be subject to such Awards granted to such Employees; provided, however, that the resolutions or charter
adopted by the Board or any Committee evidencing such delegation will specify the total number of shares of Common Stock that may
be subject to the Awards granted by such Officer and that such Officer may not grant an Award to himself or herself. Any such Awards
will be granted on the applicable form of Award Agreement most recently approved for use by the Board or the Committee, unless
otherwise provided in the resolutions approving the delegation authority. Notwithstanding anything to the contrary herein, neither
the Board nor any Committee may delegate to an Officer who is acting solely in the capacity of an Officer (and not also as a Director)
the authority to determine the Fair Market Value.

 

8.            Tax
Withholding

 

(a)            Withholding
Authorization. As a condition to acceptance of any Award under the Plan, a Participant authorizes withholding from payroll
and any other amounts payable to such Participant, and otherwise agree to make adequate provision for (including), any sums required
to satisfy any U.S. and/or non-U.S. federal, state, or local tax or social insurance contribution withholding obligations of the
Company or an Affiliate, if any, which arise in connection with the exercise, vesting or settlement of such Award, as applicable.
Accordingly, a Participant may not be able to exercise an Award even though the Award is vested, and the Company shall have no
obligation to issue shares of Common Stock subject to an Award, unless and until such obligations are satisfied.

 

(b)            Satisfaction
of Withholding Obligation. To the extent permitted by the terms of an Award Agreement, the Company may, in its sole discretion,
satisfy any U.S. and/or non-U.S. federal, state, or local tax or social insurance withholding obligation relating to an Award by
any of the following means or by a combination of such means: (i) causing the Participant to tender a cash payment; (ii) withholding
shares of Common Stock from the shares of Common Stock issued or otherwise issuable to the Participant in connection with the Award;
(iii) withholding cash from an Award settled in cash; (iv) withholding payment from any amounts otherwise payable to
the Participant; (v) by allowing a Participant to effectuate a “cashless exercise” pursuant to a program developed
under Regulation T as promulgated by the U.S. Federal Reserve Board, or (vi) by such other method as may be set forth in the
Award Agreement.

 

    	 	12	 

     

    

 

(c)            No
Obligation to Notify or Minimize Taxes; No Liability to Claims. Except as required by Applicable Law, the Company has no duty
or obligation to any Participant to advise such holder as to the time or manner of exercising such Award. Furthermore, the Company
has no duty or obligation to warn or otherwise advise such holder of a pending termination or expiration of an Award or a possible
period in which the Award may not be exercised. The Company has no duty or obligation to minimize the tax consequences of an Award
to the holder of such Award and will not be liable to any holder of an Award for any adverse tax consequences to such holder in
connection with an Award. As a condition to accepting an Award under the Plan, each Participant (i) agrees to not make any
claim against the Company, or any of its Officers, Directors, Employees or Affiliates related to tax liabilities arising from such
Award or other Company compensation and (ii) acknowledges that such Participant was advised to consult with his or her own
personal tax, financial and other legal advisors regarding the tax consequences of the Award and has either done so or knowingly
and voluntarily declined to do so. Additionally, each Participant acknowledges any Option or SAR granted under the Plan is exempt
from Section 409A only if the exercise or strike price is at least equal to the “fair market value” of the Common
Stock on the date of grant as determined by the Internal Revenue Service and there is no other impermissible deferral of compensation
associated with the Award. Additionally, as a condition to accepting an Option or SAR granted under the Plan, each Participant
agrees not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates in the event that the
U.S. Internal Revenue Service asserts that such exercise price or strike price is less than the “fair market value”
of the Common Stock on the date of grant as subsequently determined by the U.S. Internal Revenue Service.

 

(d)            Withholding
Indemnification.  As a condition to accepting an Award under the Plan, in the event that the amount of the Company’s
and/or its Affiliate’s withholding obligation in connection with such Award was greater than the amount actually withheld
by the Company and/or its Affiliates, each Participant agrees to indemnify and hold the Company and/or its Affiliates harmless
from any failure by the Company and/or its Affiliates to withhold the proper amount.

 

9.            Miscellaneous.

 

(a)            Source
of Shares. The stock issuable under the Plan will be shares of authorized but unissued or reacquired Common Stock, including
shares repurchased by the Company on the open market or otherwise.

 

(b)            Use
of Proceeds from Sales of Common Stock. Proceeds from the sale of shares of Common Stock pursuant to Awards will constitute
general funds of the Company.

 

(c)            Corporate
Action Constituting Grant of Awards. Corporate action constituting a grant by the Company of an Award to any Participant will
be deemed completed as of the date of such corporate action, unless otherwise determined by the Board, regardless of when the instrument,
certificate, or letter evidencing the Award is communicated to, or actually received or accepted by, the Participant. In the event
that the corporate records (e.g., Board consents, resolutions or minutes) documenting the corporate action approving the grant
contain terms (e.g., exercise price, vesting schedule or number of shares) that are inconsistent with those in the Award Agreement
or related grant documents as a result of a clerical error in the Award Agreement or related grant documents, the corporate records
will control and the Participant will have no legally binding right to the incorrect term in the Award Agreement or related grant
documents.

 

(d)            Stockholder
Rights. No Participant will be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares
of Common Stock subject to such Award unless and until (i) such Participant has satisfied all requirements for exercise of
the Award pursuant to its terms, if applicable, and (ii) the issuance of the Common Stock subject to such Award is reflected
in the records of the Company.

 

    	 	13	 

     

    

 

(e)            No
Employment or Other Service Rights. Nothing in the Plan, any Award Agreement or any other instrument executed thereunder or
in connection with any Award granted pursuant thereto will confer upon any Participant any right to continue to serve the Company
or an Affiliate in the capacity in effect at the time the Award was granted or affect the right of the Company or an Affiliate
to terminate at will and without regard to any future vesting opportunity that a Participant may have with respect to any Award
(i) the employment of an Employee with or without notice and with or without cause, (ii) the service of a Consultant
pursuant to the terms of such Consultant’s agreement with the Company or an Affiliate, or (iii) the service of a Director
pursuant to the Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the U.S. state or
non-U.S. jurisdiction in which the Company or the Affiliate is incorporated, as the case may be. Further, nothing in the Plan,
any Award Agreement or any other instrument executed thereunder or in connection with any Award will constitute any promise or
commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation
or any other term or condition of employment or service or confer any right or benefit under the Award or the Plan unless such
right or benefit has specifically accrued under the terms of the Award Agreement and/or Plan.

 

(f)            Change
in Time Commitment. In the event a Participant’s regular level of time commitment in the performance of his or her services
for the Company and any Affiliates is reduced (for example, and without limitation, if the Participant is an Employee of the Company
and the Employee has a change in status from a full-time Employee to a part-time Employee or takes an extended leave of absence)
after the date of grant of any Award to the Participant, the Board may determine, to the extent permitted by Applicable Law, to
(i) make a corresponding reduction in the number of shares or cash amount subject to any portion of such Award that is scheduled
to vest or become payable after the date of such change in time commitment, and (ii) in lieu of or in combination with such
a reduction, extend the vesting or payment schedule applicable to such Award. In the event of any such reduction, the Participant
will have no right with respect to any portion of the Award that is so reduced or extended.

 

(g)            Execution
of Additional Documents. As a condition to accepting an Award under the Plan, the Participant agrees to execute any additional
documents or instruments necessary or desirable, as determined in the Plan Administrator’s sole discretion, to carry out
the purposes or intent of the Award, or facilitate compliance with securities and/or other regulatory requirements, in each case
at the Plan Administrator’s request.

 

(h)            Electronic
Delivery and Participation. Any reference herein or in an Award Agreement to a “written” agreement or document
will include any agreement or document delivered electronically, filed publicly at www.sec.gov (or any successor website thereto)
or posted on the Company’s intranet (or other shared electronic medium controlled by the Company to which the Participant
has access). By accepting any Award the Participant consents to receive documents by electronic delivery and to participate in
the Plan through any on-line electronic system established and maintained by the Plan Administrator or another third party selected
by the Plan Administrator. The form of delivery of any Common Stock (e.g., a stock certificate or electronic entry evidencing such
shares) shall be determined by the Company.

 

(i)            Clawback/Recovery.
All Awards granted under the Plan will be subject to recoupment in accordance with any clawback policy that the Company is required
to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities
are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other Applicable Law
and any clawback policy that the Company otherwise adopts, to the extent applicable and permissible under Applicable Law. In addition,
the Board may impose such other clawback, recovery or recoupment provisions in an Award Agreement as the Board determines necessary
or appropriate, including but not limited to a reacquisition right in respect of previously acquired shares of Common Stock or
other cash or property upon the occurrence of Cause. No recovery of compensation under such a clawback policy will be an event
giving rise to a Participant’s right to voluntarily terminate employment upon a “resignation for good reason,”
or for a “constructive termination” or any similar term under any plan of or agreement with the Company.

 

    	 	14	 

     

    

 

(j)            Securities
Law Compliance. A Participant will not be issued any shares in respect of an Award unless either (i) the shares are registered
under the Securities Act; or (ii) the Company has determined that such issuance would be exempt from the registration requirements
of the Securities Act. Each Award also must comply with other Applicable Law governing the Award, and a Participant will not receive
such shares if the Company determines that such receipt would not be in material compliance with Applicable Law.

 

(k)            Transfer
or Assignment of Awards; Issued Shares. Except as expressly provided in the Plan or the form of Award Agreement, Awards granted
under the Plan may not be transferred or assigned by the Participant. After the vested shares subject to an Award have been issued,
or in the case of Restricted Stock and similar awards, after the issued shares have vested, the holder of such shares is free to
assign, hypothecate, donate, encumber or otherwise dispose of any interest in such shares provided that any such actions are in
compliance with the provisions herein, the terms of the Trading Policy and Applicable Law.

 

(l)            Effect
on Other Employee Benefit Plans.  The value of any Award granted under the Plan, as determined upon grant, vesting or settlement,
shall not be included as compensation, earnings, salaries, or other similar terms used when calculating any Participant’s
benefits under any employee benefit plan sponsored by the Company or any Affiliate, except as such plan otherwise expressly provides.
The Company expressly reserves its rights to amend, modify, or terminate any of the Company's or any Affiliate's employee benefit
plans.

 

(m)            Deferrals.
To the extent permitted by Applicable Law, the Board, in its sole discretion, may determine that the delivery of Common Stock or
the payment of cash, upon the exercise, vesting or settlement of all or a portion of any Award may be deferred and may also establish
programs and procedures for deferral elections to be made by Participants. Deferrals will be made in accordance with the requirements
of Section 409A.

 

(n)            Section 409A.
Unless otherwise expressly provided for in an Award Agreement, the Plan and Award Agreements will be interpreted to the greatest
extent possible in a manner that makes the Plan and the Awards granted hereunder exempt from Section 409A, and, to the extent
not so exempt, in compliance with the requirements of Section 409A. If the Board determines that any Award granted hereunder
is not exempt from and is therefore subject to Section 409A, the Award Agreement evidencing such Award will incorporate the
terms and conditions necessary to avoid the consequences specified in Section 409A(a)(1) of the Code, and to the extent
an Award Agreement is silent on terms necessary for compliance, such terms are hereby incorporated by reference into the Award
Agreement. Notwithstanding anything to the contrary in this Plan (and unless the Award Agreement specifically provides otherwise),
if the shares of Common Stock are publicly traded, and if a Participant holding an Award that constitutes “deferred compensation”
under Section 409A is a “specified employee” for purposes of Section 409A, no distribution or payment of
any amount that is due because of a “separation from service” (as defined in Section 409A without regard to alternative
definitions thereunder) will be issued or paid before the date that is six months and one day following the date of such Participant’s
 “separation from service” or, if earlier, the date of the Participant’s death, unless such distribution or payment
can be made in a manner that complies with Section 409A, and any amounts so deferred will be paid in a lump sum on the day
after such six month period elapses, with the balance paid thereafter on the original schedule.

 

    	 	15	 

     

    

 

(o)            Choice
of Law. This Plan and any controversy arising out of or relating to this Plan shall be governed by, and construed in accordance
with, the internal laws of the State of Delaware, without regard to conflict of law principles that would result in any application
of any law other than the law of the State of Delaware.

 

10.            Covenants
of the Company.

 

(a)            Compliance
with Law. The Company will seek to obtain from each regulatory commission or agency, as may be deemed necessary, having jurisdiction
over the Plan such authority as may be required to grant Awards and to issue and sell shares of Common Stock upon exercise or vesting
of the Awards; provided, however, that this undertaking will not require the Company to register under the Securities Act the Plan,
any Award or any Common Stock issued or issuable pursuant to any such Award. If, after reasonable efforts and at a reasonable cost,
the Company is unable to obtain from any such regulatory commission or agency the authority that counsel for the Company deems
necessary or advisable for the lawful issuance and sale of Common Stock under the Plan, the Company will be relieved from any liability
for failure to issue and sell Common Stock upon exercise or vesting of such Awards unless and until such authority is obtained.
A Participant is not eligible for the grant of an Award or the subsequent issuance of Common Stock pursuant to the Award if such
grant or issuance would be in violation of any Applicable Law.

 

11.            Additional
Rules for Awards Subject to Section 409A.

 

(a)            Application.
 Unless the provisions of this Section of the Plan are expressly superseded by the provisions in the form of Award Agreement,
the provisions of this Section shall apply and shall supersede anything to the contrary set forth in the Award Agreement for
a Non-Exempt Award.

 

(b)            Non-Exempt
Awards Subject to Non-Exempt Severance Arrangements. To the extent a Non-Exempt Award is subject to Section 409A due to
application of a Non-Exempt Severance Arrangement, the following provisions of this subsection (b) apply.

 

(i)            If
the Non-Exempt Award vests in the ordinary course during the Participant’s Continuous Service in accordance with the vesting
schedule set forth in the Award Agreement, and does not accelerate vesting under the terms of a Non-Exempt Severance Arrangement,
in no event will the shares be issued in respect of such Non-Exempt Award any later than the later of: (i) December 31st
of the calendar year that includes the applicable vesting date, or (ii) the 60th day that follows the applicable
vesting date.

 

(ii)           If
vesting of the Non-Exempt Award accelerates under the terms of a Non-Exempt Severance Arrangement in connection with the Participant’s
Separation from Service, and such vesting acceleration provisions were in effect as of the date of grant of the Non-Exempt Award
and, therefore, are part of the terms of such Non-Exempt Award as of the date of grant, then the shares will be earlier issued
in settlement of such Non-Exempt Award upon the Participant’s Separation from Service in accordance with the terms of the
Non-Exempt Severance Arrangement, but in no event later than the 60th day that follows the date of the Participant’s
Separation from Service. However, if at the time the shares would otherwise be issued the Participant is subject to the distribution
limitations contained in Section 409A applicable to “specified employees,” as defined in Section 409A(a)(2)(B)(i) of
the Code, such shares shall not be issued before the date that is six months following the date of such Participant’s Separation
from Service, or, if earlier, the date of the Participant’s death that occurs within such six month period.

 

    	 	16	 

     

    

 

(iii)          If
vesting of a Non-Exempt Award accelerates under the terms of a Non-Exempt Severance Arrangement in connection with a Participant’s
Separation from Service, and such vesting acceleration provisions were not in effect as of the date of grant of the Non-Exempt
Award and, therefore, are not a part of the terms of such Non-Exempt Award on the date of grant, then such acceleration of vesting
of the Non-Exempt Award shall not accelerate the issuance date of the shares, but the shares shall instead be issued on the same
schedule as set forth in the Grant Notice as if they had vested in the ordinary course during the Participant’s Continuous
Service, notwithstanding the vesting acceleration of the Non-Exempt Award. Such issuance schedule is intended to satisfy the requirements
of payment on a specified date or pursuant to a fixed schedule, as provided under Treasury Regulations Section 1.409A-3(a)(4).

 

(c)            Treatment
of Non-Exempt Awards Upon a Corporate Transaction for Employees and Consultants. The provisions of this subsection (c) shall
apply and shall supersede anything to the contrary set forth in the Plan with respect to the permitted treatment of any Non-Exempt
Award in connection with a Corporate Transaction if the Participant was either an Employee or Consultant upon the applicable date
of grant of the Non-Exempt Award.

 

(i)            Vested
Non-Exempt Awards. The following provisions shall apply to any Vested Non-Exempt Award in connection with a Corporate Transaction:

 

(1)            If
the Corporate Transaction is also a Section 409A Change in Control then the Acquiring Entity may not assume, continue or substitute
the Vested Non-Exempt Award. Upon the Section 409A Change in Control the settlement of the Vested Non-Exempt Award will automatically
be accelerated and the shares will be immediately issued in respect of the Vested Non-Exempt Award. Alternatively, the Company
may instead provide that the Participant will receive a cash settlement equal to the Fair Market Value of the shares that would
otherwise be issued to the Participant upon the Section 409A Change in Control.

 

(2)            If
the Corporate Transaction is not also a Section 409A Change in Control, then the Acquiring Entity must either assume, continue
or substitute each Vested Non-Exempt Award. The shares to be issued in respect of the Vested Non-Exempt Award shall be issued to
the Participant by the Acquiring Entity on the same schedule that the shares would have been issued to the Participant if the Corporate
Transaction had not occurred. In the Acquiring Entity’s discretion, in lieu of an issuance of shares, the Acquiring Entity
may instead substitute a cash payment on each applicable issuance date, equal to the Fair Market Value of the shares that would
otherwise be issued to the Participant on such issuance dates, with the determination of the Fair Market Value of the shares made
on the date of the Corporate Transaction.

 

(ii)          Unvested
Non-Exempt Awards. The following provisions shall apply to any Unvested Non-Exempt Award unless otherwise determined by the
Board pursuant to subsection (e) of this Section.

 

(1)            In
the event of a Corporate Transaction, the Acquiring Entity shall assume, continue or substitute any Unvested Non-Exempt Award.
Unless otherwise determined by the Board, any Unvested Non-Exempt Award will remain subject to the same vesting and forfeiture
restrictions that were applicable to the Award prior to the Corporate Transaction. The shares to be issued in respect of any Unvested
Non-Exempt Award shall be issued to the Participant by the Acquiring Entity on the same schedule that the shares would have been
issued to the Participant if the Corporate Transaction had not occurred. In the Acquiring Entity’s discretion, in lieu of
an issuance of shares, the Acquiring Entity may instead substitute a cash payment on each applicable issuance date, equal to the
Fair Market Value of the shares that would otherwise be issued to the Participant on such issuance dates, with the determination
of Fair Market Value of the shares made on the date of the Corporate Transaction.

 

    	 	17	 

     

    

 

(2)            If
the Acquiring Entity will not assume, substitute or continue any Unvested Non-Exempt Award in connection with a Corporate Transaction,
then such Award shall automatically terminate and be forfeited upon the Corporate Transaction with no consideration payable to
any Participant in respect of such forfeited Unvested Non-Exempt Award. Notwithstanding the foregoing, to the extent permitted
and in compliance with the requirements of Section 409A, the Board may in its discretion determine to elect to accelerate
the vesting and settlement of the Unvested Non-Exempt Award upon the Corporate Transaction, or instead substitute a cash payment
equal to the Fair Market Value of such shares that would otherwise be issued to the Participant, as further provided in subsection
(e)(ii) below. In the absence of such discretionary election by the Board, any Unvested Non-Exempt Award shall be forfeited
without payment of any consideration to the affected Participants if the Acquiring Entity will not assume, substitute or continue
the Unvested Non-Exempt Awards in connection with the Corporate Transaction.

 

(3)            The
foregoing treatment shall apply with respect to all Unvested Non-Exempt Awards upon any Corporate Transaction, and regardless of
whether or not such Corporate Transaction is also a Section 409A Change in Control.

 

(d)            Treatment
of Non-Exempt Awards Upon a Corporate Transaction for Non-Employee Directors. The following provisions of this subsection (d) shall
apply and shall supersede anything to the contrary that may be set forth in the Plan with respect to the permitted treatment of
a Non-Exempt Director Award in connection with a Corporate Transaction.

 

(i)            If
the Corporate Transaction is also a Section 409A Change in Control then the Acquiring Entity may not assume, continue or substitute
the Non-Exempt Director Award. Upon the Section 409A Change in Control the vesting and settlement of any Non-Exempt Director
Award will automatically be accelerated and the shares will be immediately issued to the Participant in respect of the Non-Exempt
Director Award. Alternatively, the Company may provide that the Participant will instead receive a cash settlement equal to the
Fair Market Value of the shares that would otherwise be issued to the Participant upon the Section 409A Change in Control
pursuant to the preceding provision.

 

(ii)            If
the Corporate Transaction is not also a Section 409A Change in Control, then the Acquiring Entity must either assume, continue
or substitute the Non-Exempt Director Award. Unless otherwise determined by the Board, the Non-Exempt Director Award will remain
subject to the same vesting and forfeiture restrictions that were applicable to the Award prior to the Corporate Transaction. The
shares to be issued in respect of the Non-Exempt Director Award shall be issued to the Participant by the Acquiring Entity on the
same schedule that the shares would have been issued to the Participant if the Corporate Transaction had not occurred. In the Acquiring
Entity’s discretion, in lieu of an issuance of shares, the Acquiring Entity may instead substitute a cash payment on each
applicable issuance date, equal to the Fair Market Value of the shares that would otherwise be issued to the Participant on such
issuance dates, with the determination of Fair Market Value made on the date of the Corporate Transaction.

 

(e)             If
the RSU Award is a Non-Exempt Award, then the provisions in this Section 11(e) shall apply and supersede anything to
the contrary that may be set forth in the Plan or the Award Agreement with respect to the permitted treatment of such Non-Exempt
Award:

 

    	 	18	 

     

    

 

(i)            Any
exercise by the Board of discretion to accelerate the vesting of a Non-Exempt Award shall not result in any acceleration of the
scheduled issuance dates for the shares in respect of the Non-Exempt Award unless earlier issuance of the shares upon the applicable
vesting dates would be in compliance with the requirements of Section 409A.

 

(ii)           The
Company explicitly reserves the right to earlier settle any Non-Exempt Award to the extent permitted and in compliance with the
requirements of Section 409A, including pursuant to any of the exemptions available in Treasury Regulations Section 1.409A-3(j)(4)(ix).

 

(iii)          To
the extent the terms of any Non-Exempt Award provide that it will be settled upon a Change in Control or Corporate Transaction,
to the extent it is required for compliance with the requirements of Section 409A, the Change in Control or Corporate Transaction
event triggering settlement must also constitute a Section 409A Change in Control. To the extent the terms of a Non-Exempt
Award provides that it will be settled upon a termination of employment or termination of Continuous Service, to the extent it
is required for compliance with the requirements of Section 409A, the termination event triggering settlement must also constitute
a Separation From Service. However, if at the time the shares would otherwise be issued to a Participant in connection with a “separation
from service” such Participant is subject to the distribution limitations contained in Section 409A applicable to “specified
employees,” as defined in Section 409A(a)(2)(B)(i) of the Code, such shares shall not be issued before the date
that is six months following the date of the Participant’s Separation From Service, or, if earlier, the date of the Participant’s
death that occurs within such six month period.

 

(iv)           The
provisions in this subsection (e) for delivery of the shares in respect of the settlement of a RSU Award that is a Non-Exempt
Award are intended to comply with the requirements of Section 409A so that the delivery of the shares to the Participant in
respect of such Non-Exempt Award will not trigger the additional tax imposed under Section 409A, and any ambiguities herein
will be so interpreted.

 

12.            Severability.

 

If all or any part
of the Plan or any Award Agreement is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness
or invalidity shall not invalidate any portion of the Plan or such Award Agreement not declared to be unlawful or invalid. Any
Section of the Plan or any Award Agreement (or part of such a Section) so declared to be unlawful or invalid shall, if possible,
be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent
possible while remaining lawful and valid.

 

13.            Termination
of the Plan.

 

The Board may suspend or terminate the
Plan at any time. No Incentive Stock Options may be granted after the tenth anniversary of the earlier of: (i) the Adoption
Date, or (ii) the date the Plan is approved by the Company’s stockholders. No Awards may be granted under the Plan while
the Plan is suspended or after it is terminated.

 

14.            Definitions.

 

As used in the Plan,
the following definitions apply to the capitalized terms indicated below:

 

(a)            “Acquiring
Entity” means the surviving or acquiring corporation (or its parent company) in connection with a Corporate Transaction.

 

    	 	19	 

     

    

 

(b)            “Adoption
Date” means the date the Plan is first approved by the Board or Compensation Committee.

 

(c)            “Affiliate”
means, at the time of determination, any “parent” or “subsidiary” of the Company as such terms are defined
in Rule 405 promulgated under the Securities Act. The Board may determine the time or times at which “parent”
or “subsidiary” status is determined within the foregoing definition.

 

(d)            “Applicable
Law” means shall mean the Code and any applicable U.S. or non-U.S. securities, federal, state, material local or
municipal or other law, statute, constitution, principle of common law, resolution, ordinance, code, edict, decree, rule, listing
rule, regulation, judicial decision, ruling or requirement issued, enacted, adopted, promulgated, implemented or otherwise put
into effect by or under the authority of any Governmental Body (including under the authority of any applicable self-regulating
organization such as the Nasdaq Stock Market, New York Stock Exchange, or the Financial Industry Regulatory Authority).

 

(e)            “Award”
means any right to receive Common Stock, cash or other property granted under the Plan (including an Incentive Stock Option, a
Nonstatutory Stock Option, a Restricted Stock Award, a RSU Award, a SAR, a Performance Award or any Other Award).

 

(f)            “Award
Agreement” means a written agreement between the Company and a Participant evidencing the terms and conditions of
an Award. The Award Agreement generally consists of the Grant Notice and the agreement containing the written summary of the general
terms and conditions applicable to the Award and which is provided to a Participant along with the Grant Notice.

 

(g)            “Board”
means the board of directors of the Company (or its designee). Any decision or determination made by the Board shall be a decision
or determination that is made in the sole discretion of the Board (or its designee), and such decision or determination shall be
final and binding on all Participants.

 

(h)            “Capitalization
Adjustment” means any change that is made in, or other events that occur with respect to, the Common Stock subject
to the Plan or subject to any Award after the Effective Date without the receipt of consideration by the Company through merger,
consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, large nonrecurring
cash dividend, stock split, reverse stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate
structure or any similar equity restructuring transaction, as that term is used in Statement of Financial Accounting Standards
Board Accounting Standards Codification Topic 718 (or any successor thereto). Notwithstanding the foregoing, the conversion of
any convertible securities of the Company will not be treated as a Capitalization Adjustment.

 

(i)            “Cause”
has the meaning ascribed to such term in any written agreement between the Participant and the Company defining such term and,
in the absence of such agreement, such term means, with respect to a Participant, the occurrence of any of the following events:
(i) the Participant’s theft, dishonesty, willful misconduct, breach of fiduciary duty for personal profit, or falsification
of any Company or Affiliate documents or records; (ii) the Participant’s material failure to abide by the Company’s
Code of Conduct or other policies (including, without limitation, policies relating to confidentiality and reasonable workplace
conduct and policies of any Affiliate, as applicable); (iii) the Participant’s unauthorized use, misappropriation, destruction
or diversion of any tangible or intangible asset or corporate opportunity of the Company or any of its Affiliates (including, without
limitation, the Participant’s improper use or disclosure of Company or Affiliate confidential or proprietary information);
(iv) any intentional act by the Participant which has a material detrimental effect on the Company’s or its Affiliate’s
reputation or business; (v) the Participant’s repeated failure or inability to perform any reasonable assigned duties
after written notice from the Company (or its Affiliate, as applicable) of, and a reasonable opportunity to cure, such failure
or inability; (vi) any material breach by the Participant of any employment or service agreement between the Participant and
the Company (or its Affiliate, as applicable), which breach is not cured pursuant to the terms of such agreement; or (vii) the
Participant’s conviction (including any plea of guilty or nolo contendere) of any criminal act involving fraud, dishonesty,
misappropriation or moral turpitude, or which impairs the Participant’s ability to perform his or her duties with the Company
(or its Affiliate, as applicable). The determination that a termination of the Participant’s Continuous Service is either
for Cause or without Cause will be made by the Board with respect to Participants who are executive officers of the Company and
by the Company’s Chief Executive Officer with respect to Participants who are not executive officers of the Company. Any
determination by the Company that the Continuous Service of a Participant was terminated with or without Cause for the purposes
of outstanding Awards held by such Participant will have no effect upon any determination of the rights or obligations of the Company
or such Participant for any other purpose.

 

    	 	20	 

     

    

 

(j)            “Change
in Control” or “Change of Control” means the occurrence, in a single transaction or in
a series of related transactions, of any one or more of the following events; provided, however, to the extent necessary to avoid
adverse personal income tax consequences to the Participant in connection with an Award, also constitutes a Section 409A Change
in Control:

 

(i)            any
Exchange Act Person becomes the Owner, directly or indirectly, of securities of the Company representing more than 50% of the combined
voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar transaction.
Notwithstanding the foregoing, a Change in Control shall not be deemed to occur (A) on account of the acquisition of securities
of the Company directly from the Company, (B) on account of the acquisition of securities of the Company by an investor, any
affiliate thereof or any other Exchange Act Person that acquires the Company’s securities in a transaction or series of related
transactions the primary purpose of which is to obtain financing for the Company through the issuance of equity securities, or
(C) solely because the level of Ownership held by any Exchange Act Person (the “Subject Person”)
exceeds the designated percentage threshold of the outstanding voting securities as a result of a repurchase or other acquisition
of voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control would occur
(but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and after such share
acquisition, the Subject Person becomes the Owner of any additional voting securities that, assuming the repurchase or other acquisition
had not occurred, increases the percentage of the then outstanding voting securities Owned by the Subject Person over the designated
percentage threshold, then a Change in Control shall be deemed to occur;

 

(ii)          there
is consummated a merger, consolidation or similar transaction involving (directly or indirectly) the Company and, immediately after
the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto
do not Own, directly or indirectly, either (A) outstanding voting securities representing more than 50% of the combined outstanding
voting power of the surviving Entity in such merger, consolidation or similar transaction or (B) more than 50% of the combined
outstanding voting power of the parent of the surviving Entity in such merger, consolidation or similar transaction, in each case
in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior
to such transaction;

 

(iii)         the
stockholders of the Company approve or the Board approves a plan of complete dissolution or liquidation of the Company, or a complete
dissolution or liquidation of the Company shall otherwise occur, except for a liquidation into a parent corporation;

 

    	 	21	 

     

    

 

(iv)          there
is consummated a sale, lease, exclusive license or other disposition of all or substantially all of the consolidated assets of
the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated
assets of the Company and its Subsidiaries to an Entity, more than 50% of the combined voting power of the voting securities of
which are Owned by stockholders of the Company in substantially the same proportions as their Ownership of the outstanding voting
securities of the Company immediately prior to such sale, lease, license or other disposition; or

 

(v)           individuals
who, on the date the Plan is adopted by the Board, are members of the Board (the “Incumbent Board”) cease
for any reason to constitute at least a majority of the members of the Board; provided, however, that if the appointment or election
(or nomination for election) of any new Board member was approved or recommended by a majority vote of the members of the Incumbent
Board then still in office, such new member shall, for purposes of this Plan, be considered as a member of the Incumbent Board.

 

Notwithstanding the
foregoing or any other provision of this Plan, (A) the term Change in Control shall not include a sale of assets, merger or
other transaction effected exclusively for the purpose of changing the domicile of the Company, and (B) the definition of
Change in Control (or any analogous term) in an individual written agreement between the Company or any Affiliate and the Participant
shall supersede the foregoing definition with respect to Awards subject to such agreement; provided, however, that if no definition
of Change in Control or any analogous term is set forth in such an individual written agreement, the foregoing definition shall
apply.

 

(k)            “Code”
means the U.S. Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder.

 

(l)            “Committee”
means the Compensation Committee and any other committee of one or more Directors to whom authority has been delegated by the Board
or Compensation Committee in accordance with the Plan.

 

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

 

(n)            “Company”
means IN8bio, Inc., a Delaware corporation, and any successor corporation thereto.

 

(o)            “Compensation
Committee” means the Compensation Committee of the Board.

 

(p)            “Consultant”
means any person, including an advisor, who is (i) engaged by the Company or an Affiliate to render consulting or advisory
services and is compensated for such services, or (ii) serving as a member of the board of directors of an Affiliate and is
compensated for such services. However, service solely as a Director, or payment of a fee for such service, will not cause a Director
to be considered a “Consultant” for purposes of the Plan. Notwithstanding the foregoing, a person is treated as a Consultant
under this Plan only if a Form S-8 Registration Statement under the Securities Act is available to register either the offer
or the sale of the Company’s securities to such person.

 

    	 	22	 

     

    

 

(q)            “Continuous
Service” means that the Participant’s service with the Company or an Affiliate, whether as an Employee, Director
or Consultant, is not interrupted or terminated. A change in the capacity in which the Participant renders service to the Company
or an Affiliate as an Employee, Director or Consultant or a change in the Entity for which the Participant renders such service,
provided that there is no interruption or termination of the Participant’s service with the Company or an Affiliate, will
not terminate a Participant’s Continuous Service; provided, however, that if the Entity for which a Participant is rendering
services ceases to qualify as an Affiliate, as determined by the Board, such Participant’s Continuous Service will be considered
to have terminated on the date such Entity ceases to qualify as an Affiliate. For example, a change in status from an Employee
of the Company to a Consultant of an Affiliate or to a Director will not constitute an interruption of Continuous Service. To the
extent permitted by law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may determine
whether Continuous Service will be considered interrupted in the case of (i) any leave of absence approved by the Board or
chief executive officer, including sick leave, military leave or any other personal leave, or (ii) transfers between the Company,
an Affiliate, or their successors. Notwithstanding the foregoing, a leave of absence will be treated as Continuous Service for
purposes of vesting in an Award only to such extent as may be provided in the Company’s leave of absence policy, in the written
terms of any leave of absence agreement or policy applicable to the Participant, or as otherwise required by law. In addition,
to the extent required for exemption from or compliance with Section 409A, the determination of whether there has been a termination
of Continuous Service will be made, and such term will be construed, in a manner that is consistent with the definition of “separation
from service” as defined under U.S. Treasury Regulation Section 1.409A-1(h) (without regard to any alternative
definition thereunder).

 

(r)            “Corporate
Transaction” means the consummation, in a single transaction or in a series of related transactions, of any one or
more of the following events:

 

(i)            a
sale or other disposition of all or substantially all, as determined by the Board, of the consolidated assets of the Company and
its Subsidiaries;

 

(ii)          a
sale or other disposition of at least 50% of the outstanding securities of the Company;

 

(iii)         a
merger, consolidation or similar transaction following which the Company is not the surviving corporation; or

 

(iv)          a
merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common
Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of
the merger, consolidation or similar transaction into other property, whether in the form of securities, cash or otherwise.

 

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

 

(t)            “determine”
or “determined” means as determined by the Board or the Committee (or its designee) in
its sole discretion.

 

(u)            “Disability”
means, with respect to a Participant, such Participant is unable to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected
to last for a continuous period of not less than 12 months, as provided in Section 22(e)(3) of the Code, and will be
determined by the Board on the basis of such medical evidence as the Board deems warranted under the circumstances.

 

(v)            “Effective
Date” means the IPO Date, provided this Plan is approved by the Company’s stockholders prior to the IPO Date.

 

    	 	23	 

     

    

 

(w)            “Employee”
means any person employed by the Company or an Affiliate. However, service solely as a Director, or payment of a fee for such services,
will not cause a Director to be considered an “Employee” for purposes of the Plan.

 

(x)            “Employer”
means the Company or the Affiliate that employs the Participant.

 

(y)            “Entity”
means a corporation, partnership, limited liability company or other entity.

 

(z)            “Exchange
Act” means the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

(aa)     “Exchange
Act Person” means any natural person, Entity or “group” (within the meaning of Section 13(d) or
14(d) of the Exchange Act), except that “Exchange Act Person” will not include (i) the Company or any Subsidiary
of the Company, (ii) any employee benefit plan of the Company or any Subsidiary of the Company or any trustee or other fiduciary
holding securities under an employee benefit plan of the Company or any Subsidiary of the Company, (iii) an underwriter temporarily
holding securities pursuant to a registered public offering of such securities, (iv) an Entity Owned, directly or indirectly,
by the stockholders of the Company in substantially the same proportions as their Ownership of stock of the Company; or (v) any
natural person, Entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act)
that, as of the Effective Date, is the Owner, directly or indirectly, of securities of the Company representing more than 50% of
the combined voting power of the Company’s then outstanding securities.

 

(bb)     “Fair
Market Value” means, as of any date, unless otherwise determined by the Board, the value of the Common Stock (as
determined on a per share or aggregate basis, as applicable) determined as follows:

 

(i)            If
the Common Stock is listed on any established stock exchange or traded on any established market, the Fair Market Value will be
the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume
of trading in the Common Stock) on the date of determination, as reported in a source the Board deems reliable.

 

(ii)          If
there is no closing sales price for the Common Stock on the date of determination, then the Fair Market Value will be the closing
selling price on the last preceding date for which such quotation exists.

 

(iii)         In
the absence of such markets for the Common Stock, or if otherwise determined by the Board, the Fair Market Value will be determined
by the Board in good faith and in a manner that complies with Sections 409A and 422 of the Code.

 

(cc)     “Governmental
Body” means any: (a) nation, state, commonwealth, province, territory, county, municipality, district or other
jurisdiction of any nature; (b) U.S. or non-U.S. federal, state, local, municipal, or other government; (c) governmental
or regulatory body, or quasi-governmental body of any nature (including any governmental division, department, administrative agency
or bureau, commission, authority, instrumentality, official, ministry, fund, foundation, center, organization, unit, body or Entity
and any court or other tribunal, and for the avoidance of doubt, any Tax authority) or other body exercising similar powers or
authority; or (d) self-regulatory organization (including the Nasdaq Stock Market, New York Stock Exchange, and the Financial
Industry Regulatory Authority).

 

(dd)     “Grant
Notice” means the notice provided to a Participant that he or she has been granted an Award under the Plan and which
includes the name of the Participant, the type of Award, the date of grant of the Award, number of shares of Common Stock subject
to the Award or potential cash payment right, (if any), the vesting schedule for the Award (if any) and other key terms applicable
to the Award.

 

    	 	24	 

     

    

 

(ee)         “Incentive
Stock Option” means an option granted pursuant to Section 4 of the Plan that is intended to be, and qualifies
as, an “incentive stock option” within the meaning of Section 422 of the Code.

 

(ff)          “IPO
Date” means the date of execution of the underwriting agreement between the Company and the underwriter(s) managing
the initial public offering of the Common Stock, pursuant to which the Common Stock is priced for the initial public offering.

 

(gg)          “Materially
Impair” means any amendment to the terms of the Award that materially adversely affects the Participant’s rights
under the Award. A Participant's rights under an Award will not be deemed to have been Materially Impaired by any such amendment
if the Board, in its sole discretion, determines that the amendment, taken as a whole, does not materially impair the Participant’s
rights. For example, the following types of amendments to the terms of an Award do not Materially Impair the Participant’s
rights under the Award: (i) imposition of reasonable restrictions on the minimum number of shares subject to an Option that
may be exercised, (ii) to maintain the qualified status of the Award as an Incentive Stock Option under Section 422 of
the Code; (iii) to change the terms of an Incentive Stock Option in a manner that disqualifies, impairs or otherwise affects
the qualified status of the Award as an Incentive Stock Option under Section 422 of the Code; (iv) to clarify the manner
of exemption from, or to bring the Award into compliance with or qualify it for an exemption from, Section 409A; or (v) to
comply with other Applicable Laws.

 

(hh)        “Non-Employee
Director” means a Director who either (i) is not a current employee or officer of the Company or an Affiliate,
does not receive compensation, either directly or indirectly, from the Company or an Affiliate for services rendered as a consultant
or in any capacity other than as a Director (except for an amount as to which disclosure would not be required under Item 404(a) of
Regulation S-K promulgated pursuant to the Securities Act (“Regulation S-K”)), does not possess an interest
in any other transaction for which disclosure would be required under Item 404(a) of Regulation S-K, and is not engaged in
a business relationship for which disclosure would be required pursuant to Item 404(b) of Regulation S-K; or (ii) is
otherwise considered a “non-employee director” for purposes of Rule 16b-3.

 

(ii)          “Non-Exempt
Award” means any Award that is subject to, and not exempt from, Section 409A, including as the result of (i) a
deferral of the issuance of the shares subject to the Award which is elected by the Participant or imposed by the Company or (ii) the
terms of any Non-Exempt Severance Agreement.

 

(jj)          “Non-Exempt
Director Award” means a Non-Exempt Award granted to a Participant who was a Director but not an Employee on the applicable
grant date.

 

(kk)       “Non-Exempt
Severance Arrangement” means a severance arrangement or other agreement between the Participant and the Company that
provides for acceleration of vesting of an Award and issuance of the shares in respect of such Award upon the Participant’s
termination of employment or separation from service (as such term is defined in Section 409A(a)(2)(A)(i) of the Code
(and without regard to any alternative definition thereunder) (“Separation from Service”) and such severance
benefit does not satisfy the requirements for an exemption from application of Section 409A provided under Treasury Regulations
Section 1.409A-1(b)(4), 1.409A-1(b)(9) or otherwise.

 

    	 	25	 

     

    

 

(ll)          “Nonstatutory
Stock Option” means any option granted pursuant to Section 4 of the Plan that does not qualify as an Incentive
Stock Option.

 

(mm)      “Officer”
means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act.

 

(nn)        “Option”
means an Incentive Stock Option or a Nonstatutory Stock Option to purchase shares of Common Stock granted pursuant to the Plan.

 

(oo)         “Option
Agreement” means a written agreement between the Company and the Optionholder evidencing the terms and conditions
of the Option grant. The Option Agreement includes the Grant Notice for the Option and the agreement containing the written summary
of the general terms and conditions applicable to the Option and which is provided to a Participant along with the Grant Notice.
Each Option Agreement will be subject to the terms and conditions of the Plan.

 

(pp)         “Optionholder”
means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding
Option.

 

(qq)         “Other
Award” means an award valued in whole or in part by reference to, or otherwise based on, Common Stock, including
the appreciation in value thereof (e.g., options or stock rights with an exercise price or strike price less than 100% of the Fair
Market Value at the time of grant) that is not an Incentive Stock Options, Nonstatutory Stock Option, SAR, Restricted Stock Award,
RSU Award or Performance Award.

 

(rr)         “Other
Award Agreement” means a written agreement between the Company and a holder of an Other Award evidencing the terms
and conditions of an Other Award grant. Each Other Award Agreement will be subject to the terms and conditions of the Plan.

 

(ss)         “Own,”
 “Owned,” “Owner,” “Ownership” means that a person
or Entity will be deemed to “Own,” to have “Owned,” to be the “Owner” of, or to have acquired
 “Ownership” of securities if such person or Entity, directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise, has or shares voting power, which includes the power to vote or to direct the voting, with respect to
such securities.

 

(tt)          “Participant”
means an Employee, Director or Consultant to whom an Award is granted pursuant to the Plan or, if applicable, such other person
who holds an outstanding Award.

 

(uu)        “Performance
Award” means an Award that may vest or may be exercised or a cash award that may vest or become earned and paid contingent
upon the attainment during a Performance Period of certain Performance Goals and which is granted under the terms and conditions
of Section 5(b) pursuant to such terms as are approved by the Board. In addition, to the extent permitted by Applicable
Law and set forth in the applicable Award Agreement, the Board may determine that cash or other property may be used in payment
of Performance Awards. Performance Awards that are settled in cash or other property are not required to be valued in whole or
in part by reference to, or otherwise based on, the Common Stock.

 

    	 	26	 

     

    

 

(vv)         “Performance
Criteria” means the one or more criteria that the Board will select for purposes of establishing the Performance
Goals for a Performance Period. The Performance Criteria that will be used to establish such Performance Goals may be based on
any one of, or combination of, the following as determined by the Board: earnings (including earnings per share and net earnings);
earnings before interest, taxes and depreciation; earnings before interest, taxes, depreciation and amortization; total stockholder
return; return on equity or average stockholder’s equity; return on assets, investment, or capital employed; stock price;
margin (including gross margin); income (before or after taxes); operating income; operating income after taxes; pre-tax profit;
operating cash flow; sales or revenue targets; increases in revenue or product revenue; expenses and cost reduction goals; improvement
in or attainment of working capital levels; economic value added (or an equivalent metric); market share; cash flow; cash flow
per share; share price performance; debt reduction; customer satisfaction; stockholders’ equity; capital expenditures; debt
levels; operating profit or net operating profit; workforce diversity; growth of net income or operating income; billings; pre-clinical
development related compound goals; financing; regulatory milestones, including approval of a compound; stockholder liquidity;
corporate governance and compliance; product commercialization; intellectual property; personnel matters; progress of internal
research or clinical programs; progress of partnered programs; partner satisfaction; budget management; clinical achievements;
completing phases of a clinical study (including the treatment phase); announcing or presenting preliminary or final data from
clinical studies; in each case, whether on particular timelines or generally; timely completion of clinical trials; submission
of INDs and NDAs and other regulatory achievements; partner or collaborator achievements; internal controls, including those related
to the Sarbanes-Oxley Act of 2002; research progress, including the development of programs; investor relations, analysts and communication;
manufacturing achievements (including obtaining particular yields from manufacturing runs and other measurable objectives related
to process development activities); strategic partnerships or transactions (including in-licensing and out-licensing of intellectual
property; establishing relationships with commercial entities with respect to the marketing, distribution and sale of the Company’s
products (including with group purchasing organizations, distributors and other vendors); supply chain achievements (including
establishing relationships with manufacturers or suppliers of active pharmaceutical ingredients and other component materials and
manufacturers of the Company’s products); co-development, co-marketing, profit sharing, joint venture or other similar arrangements;
individual performance goals; corporate development and planning goals; and other measures of performance selected by the Board
or Committee.

 

(ww)       “Performance
Goals” means, for a Performance Period, the one or more goals established by the Board for the Performance Period
based upon the Performance Criteria. Performance Goals may be based on a Company-wide basis, with respect to one or more business
units, divisions, Affiliates, or business segments, and in either absolute terms or relative to the performance of one or more
comparable companies or the performance of one or more relevant indices. Unless specified otherwise by the Board (i) in the
Award Agreement at the time the Award is granted or (ii) in such other document setting forth the Performance Goals at the
time the Performance Goals are established, the Board will appropriately make adjustments in the method of calculating the attainment
of Performance Goals for a Performance Period as follows: (1) to exclude restructuring and/or other nonrecurring charges;
(2) to exclude exchange rate effects; (3) to exclude the effects of changes to generally accepted accounting principles;
(4) to exclude the effects of any statutory adjustments to corporate tax rates; (5) to exclude the effects of items that
are “unusual” in nature or occur “infrequently” as determined under generally accepted accounting principles;
(6) to exclude the dilutive effects of acquisitions or joint ventures; (7) to assume that any business divested by the
Company achieved performance objectives at targeted levels during the balance of a Performance Period following such divestiture;
(8) to exclude the effect of any change in the outstanding shares of Common Stock of the Company by reason of any stock dividend
or split, stock repurchase, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of shares
or other similar corporate change, or any distributions to common stockholders other than regular cash dividends; (9) to exclude
the effects of stock based compensation and the award of bonuses under the Company’s bonus plans; (10) to exclude costs
incurred in connection with potential acquisitions or divestitures that are required to expensed under generally accepted accounting
principles; and (11) to exclude the goodwill and intangible asset impairment charges that are required to be recorded under generally
accepted accounting principles. In addition, the Board retains the discretion to reduce or eliminate the compensation or economic
benefit due upon attainment of Performance Goals and to define the manner of calculating the Performance Criteria it selects to
use for such Performance Period. Partial achievement of the specified criteria may result in the payment or vesting corresponding
to the degree of achievement as specified in the Award Agreement or the written terms of a Performance Cash Award.

 

    	 	27	 

     

    

 

(xx)         “Performance
Period” means the period of time selected by the Board over which the attainment of one or more Performance Goals
will be measured for the purpose of determining a Participant’s right to vesting or exercise of an Award. Performance Periods
may be of varying and overlapping duration, at the sole discretion of the Board.

 

(yy)         “Plan”
means this IN8bio, Inc. 2020 Equity Incentive Plan, as amended from time to time.

 

(zz)         “Plan
Administrator” means the person, persons, and/or third-party administrator designated by the Company to administer
the day to day operations of the Plan and the Company’s other equity incentive programs.

 

(aaa)       “Post-Termination
Exercise Period” means the period following termination of a Participant’s Continuous Service within which
an Option or SAR is exercisable, as specified in Section 4(h).

 

(bbb)       “Prior
Plan’s Available Reserve” means the number of shares available for the grant of new awards under the Prior
Plan as of immediately prior to the Effective Date.

 

(ccc)       “Prior
Plan” means the Company’s 2018 Equity Incentive Plan.

 

(ddd)       “Restricted
Stock Award” or “RSA” means an Award of shares of Common Stock which is granted pursuant
to the terms and conditions of Section 5(a).

 

(eee)       “Restricted
Stock Award Agreement” means a written agreement between the Company and a holder of a Restricted Stock Award evidencing
the terms and conditions of a Restricted Stock Award grant. The Restricted Stock Award Agreement includes the Grant Notice for
the Restricted Stock Award and the agreement containing the written summary of the general terms and conditions applicable to the
Restricted Stock Award and which is provided to a Participant along with the Grant Notice. Each Restricted Stock Award Agreement
will be subject to the terms and conditions of the Plan.

 

(fff)         “Returning
Shares” means shares subject to outstanding stock awards granted under the Prior Plan and that following the Effective
Date: (A) are not issued because such stock award or any portion thereof expires or otherwise terminates without all of the
shares covered by such stock award having been issued; (B)  are not issued because such stock award or any portion thereof
is settled in cash; (C)  are forfeited back to or repurchased by the Company because of the failure to meet a contingency
or condition required for the vesting of such shares; (D) are withheld or reacquired to satisfy the exercise, strike or purchase
price; or (E) are withheld or reacquired to satisfy a tax withholding obligation.

 

(ggg)      “RSU
Award” or “RSU” means an Award of restricted stock units representing the right to receive
an issuance of shares of Common Stock which is granted pursuant to the terms and conditions of Section 5(a).

 

(hhh)      “RSU
Award Agreement” means a written agreement between the Company and a holder of a RSU Award evidencing the terms and
conditions of a RSU Award. The RSU Award Agreement includes the Grant Notice for the RSU Award and the agreement containing the
written summary of the general terms and conditions applicable to the RSU Award and which is provided to a Participant along with
the Grant Notice. Each RSU Award Agreement will be subject to the terms and conditions of the Plan.

 

    	 	28	 

     

    

 

(iii)         “Rule 16b-3”
means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to time.

 

(jjj)         “Rule 405”
means Rule 405 promulgated under the Securities Act.

 

(kkk)     “Section 409A”
means Section 409A of the Code and the regulations and other guidance thereunder.

 

(lll)         “Section 409A
Change in Control” means a change in the ownership or effective control of the Company, or in the ownership of a
substantial portion of the Company’s assets, as provided in Section 409A(a)(2)(A)(v) of the Code and Treasury Regulations
Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).

 

(mmm)   “Securities
Act” means the U.S. Securities Act of 1933, as amended.

 

(nnn)      “Share
Reserve” means the number of shares available for issuance under the Plan as set forth in Section 2(a).

 

(ooo)       “Stock
Appreciation Right” or “SAR” means a right to receive the appreciation on Common Stock
that is granted pursuant to the terms and conditions of Section 4.

 

(ppp)       “SAR
Agreement” means a written agreement between the Company and a holder of a SAR evidencing the terms and conditions
of a SAR grant. The SAR Agreement includes the Grant Notice for the SAR and the agreement containing the written summary of the
general terms and conditions applicable to the SAR and which is provided to a Participant along with the Grant Notice. Each SAR
Agreement will be subject to the terms and conditions of the Plan.

 

(qqq)       “Subsidiary”
means, with respect to the Company, (i) any corporation of which more than 50% of the outstanding Common Stock having ordinary
voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, stock of
any other class or classes of such corporation will have or might have voting power by reason of the happening of any contingency)
is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership, limited liability company or other
entity in which the Company has a direct or indirect interest (whether in the form of voting or participation in profits or capital
contribution) of more than 50%.

 

(rrr)       “Ten
Percent Stockholder” means a person who Owns (or is deemed to Own pursuant to Section 424(d) of the Code)
stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any Affiliate.

 

(sss)       “Trading
Policy” means the Company’s policy permitting certain individuals to sell Company shares only during certain
 "window" periods and/or otherwise restricts the ability of certain individuals to transfer or encumber Company shares,
as in effect from time to time.

 

(ttt)         “Unvested
Non-Exempt Award” means the portion of any Non-Exempt Award that had not vested in accordance with its terms upon
or prior to the date of any Corporate Transaction.

 

    	 	29	 

     

    

 

(uuu)      “Vested
Non-Exempt Award” means the portion of any Non-Exempt Award that had vested in accordance with its terms upon or
prior to the date of a Corporate Transaction.

 

    	 	30

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