Document:

Exhibit
4.1 

 

EDGEWISE
THERAPEUTICS, INC.

 

AMENDED AND RESTATED INVESTORS’
RIGHTS AGREEMENT

 

This Amended and Restated
Investors’ Rights Agreement (this “Agreement”) is made as of December 3, 2020 (the “Effective
Date”), by and among Edgewise Therapeutics, Inc., a Delaware corporation (the “Company”),
and the persons and entities listed on Exhibit A hereto (each, an “Investor” and collectively,
the “Investors”).

 

Recitals

A.               
The Company and the Investors have entered into that certain Series C Preferred Stock Purchase Agreement of even date
herewith (as the same may be amended and restated from time to time, the “Series C Purchase Agreement”),
which provides for, among other things, the purchase by the Investors of shares of the Company’s Series C Preferred Stock,
par value $0.0001 per share (the “Series C Preferred Stock”);

 

B.                
A condition to the obligations of the Investors under the Series C Purchase Agreement to purchase the Series C Preferred
Stock is that the Company and the Investors enter into this Agreement;

 

C.               
The Company and those Investors who own shares of the Company’s Series A Preferred Stock, par value $0.0001 per
share (the “Series A Preferred Stock”), Series B-1 Preferred Stock, par value $0.0001 per share (“Series
B-1 Preferred Stock”) and Series B-2 Preferred Stock, par value $0.0001 per share (“Series B-2 Preferred
Stock”) are party to that certain Amended and Restated Investors’ Rights Agreement, dated as of August 27,
2019 (the “Prior Agreement”); and

 

D.               
In order to further induce the Investors to purchase the Series C Preferred Stock, the undersigned Investors, representing
the parties required to amend the Prior Agreement, who own shares of the Company’s Series A Preferred Stock, Series B-1 Preferred
Stock and Series B-2 Preferred Stock and the Company desire to amend and restate in its entirety the Prior Agreement and to accept
the rights and obligations created pursuant hereto in lieu of their rights and obligations under the Prior Agreement.

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants set forth herein, and certain other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.                 
Definitions. As used in this Agreement, the following terms shall have the
meanings set forth below:

 

     

     

    

 

(a)              
“Affiliate” means, with respect to any specified Investor, any other person or entity who
directly or indirectly, controls, is controlled by or is under common control with such Investor, including without limitation
any general partner, managing member, officer, principal, director or trustee of such Investor, or any venture capital fund, registered
investment company, investment fund, managed investment account or other fund now or hereafter existing which is controlled by
one or more general partners, managing members or investment advisers of, or shares the same management or advisory company (or
stockholder or member thereof) or investment adviser with, such Investor; and the terms “control” and “controlled”
meaning ownership of fifty percent (50%) or more, including ownership by one or more trusts with substantially the same beneficial
interests, of the voting and equity rights of such Investor or the power to direct the management of such Investor; provided that
with respect to a person or entity that is either an individual or an irrevocable or revocable trust established for such individual
or for such individual and such individual’s family, spouse or domestic partner, an “Affiliate” shall mean a
family member, spouse or domestic partner of such individual, and includes, in the case of a trust, such individual. Notwithstanding
the foregoing, with respect to Novo Holdings A/S, in lieu of the foregoing definition, the term “Affiliate”
shall mean Novo Ventures (US) Inc. and Novo Holdings Equity US Inc. (together with Novo Holdings A/S, “Novo”),
any partner, executive officer or director of Novo or any venture capital fund or other entity now or hereafter existing formed
for the purpose of making investments in other entities that is controlled by or under common control with Novo, and for the avoidance
of doubt, shall not include any other affiliate of Novo, where “control” means the ability to elect a majority of the
board of directors or similar governing body of an entity, or ownership of more than fifty percent (50%) of the outstanding voting
securities or other ownership interest of such entity, and for the avoidance of doubt, shall not include any other affiliate of
Novo.

 

(b)             
“Board” means the Company’s Board of Directors.

 

(c)              
“Commission” means the Securities and Exchange Commission or any other federal agency at the
time administering the Securities Act.

 

(d)             
“Common Stock” means the Common Stock, par value $0.0001 per share, of the Company.

 

(e)              
“Election Period” shall have the meaning set forth in Section 4.4 hereof.

 

(f)              
“Excess Securities” shall have the meaning set forth in Section 4.4 hereof.

 

(g)             
“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any similar successor
federal statute and the rules and regulations thereunder, all as the same shall be in effect from time to time.

 

(h)             
“Fund” shall have the meaning set forth in Section 3.3 hereof.

 

(i)              
“Holder” means any Investor who holds Registrable Securities and any other holder of Registrable
Securities to whom the registration rights conferred by this Agreement have been duly and validly transferred in accordance with
Section 2.12 of this Agreement.

 

(j)              
“Indemnified Party” shall have the meaning set forth in Section 2.6(c) hereof.

 

(k)             
“Indemnifying Party” shall have the meaning set forth in Section 2.6(c) hereof.

 

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(l)             
“Initial Public Offering” means the closing of the Company’s first bona fide, firm commitment
underwritten public offering of the Company’s Common Stock registered under the Securities Act.

 

(m)            
“Initiating Holders” means any Holder or Holders who in the aggregate hold not less than thirty
percent (30%) of the Registrable Securities then outstanding.

 

(n)             
“Liquidation Event” shall have the meaning set forth in the Company’s Restated Certificate.

 

(o)             
“Major Investor” means any Investor that holds not less than 1,200,000 shares of Preferred
Stock, as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like with respect
to such applicable series of Preferred Stock. For clarity, at such time as any Investor who previously held 1,200,000 shares of
Preferred Stock, as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like,
no longer holds at least such amount of Preferred Stock, such Investor shall lose its status as a Major Investor.

 

(p)             
“New Securities” shall have the meaning set forth in Section 4.2 hereof.

 

(q)             
“Other Selling Stockholders” means persons other than Holders who, by virtue of agreements
with the Company, are entitled to include their Other Shares in certain registrations hereunder.

 

(r)             
“Other Shares” means shares of Common Stock, other than Registrable Securities with respect
to which registration rights have been granted.

 

(s)             
“Preferred Director” shall have the meaning set forth in the Restated Certificate.

 

(t)              
“Preferred Stock” means, collectively, all shares of Series A Preferred Stock, Series B-1
Preferred Stock, Series B-2 Preferred Stock, Series C Preferred Stock and any other shares of preferred stock of the Company whether
or not authorized as of the Effective Date.

 

(u)             
“Pro Rata Amount” shall have the meaning set forth in Section 4.1 hereof.

 

(v)             
“Qualified Public Offering” shall have the meaning set forth in the Restated Certificate.

 

(w)            
“Registrable Securities” means (i) shares of Common Stock issued or issuable pursuant
to the conversion of the Shares, (ii) any shares of Common Stock, or any shares of Common Stock issued or issuable (directly or
indirectly) upon conversion and/or exercise of any other securities of the Company, and (iii) any shares of Common Stock issued
as a dividend or other distribution with respect to or in exchange for or in replacement of the shares referenced in clause (i)
or (ii) above; provided, however, that Registrable Securities shall not include any shares of Common Stock described
in clause (i), (ii) or (iii) above which have been sold to the public either pursuant to a registration statement or Rule 144,
or which have been sold in a private transaction in which the transferor’s rights under this Agreement are not validly assigned
in accordance with this Agreement; and provided, further, however, that Registrable Securities shall not include any shares
of Common Stock described in clauses (i), (ii) or (iii) above as to which rights have terminated pursuant to Section 2.14
hereof.

 

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(x)             
“Registrable Securities then outstanding” means the number of shares determined by adding
the number of shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable
(directly or indirectly) pursuant to then exercisable and/or convertible securities that are Registrable Securities.

 

(y)               
The terms “register,” “registered” and “registration”
refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act and applicable
rules and regulations thereunder, and the declaration or ordering of the effectiveness of such registration statement.

 

(z)              
“Registration Expenses” means all expenses incurred in effecting any registration pursuant
to this Agreement or an Initial Public Offering, including, without limitation, all registration, qualification, and filing fees,
printing expenses, escrow fees, fees and disbursements of counsel for the Company and the reasonable fees and disbursements of
one special counsel for the Holders (selected by the Holders of a majority of the Registrable Securities to be registered) (in
each case, not to exceed $35,000), blue sky fees and expenses, and expenses of any regular or special audits incident to or required
by any such registration, but shall not include Selling Expenses, fees and disbursements of other counsel for the Holders and the
compensation of regular employees of the Company, which shall be paid in any event by the Company.

 

(aa)            
“Requisite Holders” means the holders of at least a majority of the Registrable Securities
then outstanding.

 

(bb)            
“Restated Certificate” means the Company’s Amended and Restated Certificate of Incorporation
(as may be amended or restated from time to time).

 

(cc)            
“Restricted Securities” means any Registrable Securities required to bear the first legend
set forth in Section 2.8(c) hereof.

 

(dd)            
“ROFR Holder” shall have the meaning set forth in Section 4.1 hereof.

 

(ee)            
“Rule 144” means Rule 144 as promulgated by the Commission under the Securities
Act, as such Rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission.

 

(ff)             
“Rule 145” means Rule 145 as promulgated by the Commission under the Securities Act,
as such Rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission.

 

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(gg)           
“Rule 415” means Rule 415 as promulgated by the Commission under the Securities
Act, as such Rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission.

 

(hh)          
“Securities Act” means the Securities Act of 1933, as amended, or any similar successor federal
statute and the rules and regulations thereunder, all as the same shall be in effect from time to time.

 

(ii)            
“Selling Expenses” means all underwriting discounts, selling commissions and stock transfer
taxes applicable to the sale of Registrable Securities and fees and disbursements of counsel for any Holder (other than the fees
and disbursements of one special counsel to the Holders included in Registration Expenses).

 

(jj)             
“Series A Preferred Stock” shall have the meaning ascribed thereto in the Recitals hereof.

 

(kk)          
“Series B-1 Preferred Stock” shall have the meaning ascribed thereto in the Recitals hereof.

 

(ll)               
Series B-2 Preferred Stock” shall have the meaning ascribed thereto in the Recitals hereof.

 

(mm)           
Series C Preferred Stock” shall have the meaning ascribed thereto in the Recitals hereof.

 

(nn)           
“Series C Purchase Agreement” shall have the meaning ascribed thereto in the Recitals hereof.

 

(oo)           
“Shares” means the Preferred Stock.

 

(pp)           
“Voting Agreement” means that certain Amended and Restated Voting Agreement entered into by
and among the Company and the Stockholders named therein as of even date herewith, as such may be amended or restated from time
to time in accordance with the provisions thereof.

 

(qq)          
“Withdrawn Registration” means a forfeited demand registration under Section 2.1
in accordance with the terms and conditions of Section 2.4.

 

2.                 
Registration Rights.

 

2.1             
Requested Registration.

 

(a)              
Registration. Subject to the conditions set forth in this Section 2.1, if the Company shall receive
from Initiating Holders a written request signed by such Initiating Holders that the Company effect any registration with respect
to all or a part of the Registrable Securities (such request shall state the number of shares of Registrable Securities proposed
to be disposed of by such Initiating Holders), the Company will:

 

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(i)                
promptly give written notice of the proposed registration to all other Holders; and

 

(ii)               
as soon as practicable, but in any event within ninety (90) days after the Company’s receipt of such written request,
file and use its commercially reasonable efforts to effect such registration (including, without limitation, filing post-effective
amendments, appropriate qualifications under applicable blue sky or other state securities laws, and appropriate compliance with
the Securities Act) and to permit or facilitate the sale and distribution of all or such portion of such Registrable Securities
as are specified in such request, together with all or such portion of the Registrable Securities of any Holder or Holders joining
in such request as are specified in a written request received by the Company within thirty (30) days after such written notice
from the Company is mailed or delivered.

 

(b)             
Limitations on Requested Registration. The Company shall not be obligated to effect, or to take any action
to effect, any such registration pursuant to this Section 2.1:

 

(i)               
Prior to the earlier of (A) the four (4) year anniversary of the date of this Agreement or (B) six (6) months
following the effective date of the first registration statement filed by the Company covering an underwritten offering of any
of its securities to the general public (or the subsequent date on which all market stand-off agreements applicable to the offering
have terminated, not to exceed an additional thirty-four (34) days);

 

(ii)              
If the Company has not yet offered securities pursuant to a registration statement and the Initiating Holders propose to
sell less than 20% of the Registrable Securities held by such Initiating Holders unless such lesser number of Registrable Securities
proposed to be sold by the Initiating Holders is expected to result in aggregate proceeds of at least $20,000,000 (or if after
the Initial Public Offering, Registrable Securities with an anticipated aggregate offering price of at least $5,000,000);

 

(iii)            
In any particular jurisdiction in which the Company would be required to execute a general consent to service of process
in effecting such registration, qualification, or compliance, unless the Company is already subject to service in such jurisdiction
and except as may be required by the Securities Act;

 

(iv)            
After the Company has initiated two (2) such registrations pursuant to this Section 2.1 (counting for these
purposes only (x) registrations which have been declared or ordered effective and pursuant to which securities have been sold,
and (y) Withdrawn Registrations);

 

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(v)              
During the period that is thirty (30) days prior to the Company’s good faith estimate of the date of filing of, and
ending on a date ninety (90) days (or one hundred eighty (180) days, in the case of an Initial Public Offering) after the effective
date of a Company-initiated registration (or ending on the subsequent date on which all market stand-off agreements applicable
to the offering have terminated, not to exceed an additional thirty-four (34) days); provided that the Company is actively
employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or

 

(vi)            
If the Initiating Holders propose to dispose of shares of Registrable Securities that may be registered on Form S-3 pursuant
to a request made under Section 2.3 hereof.

 

(c)              
Deferral. If (i) in the good faith judgment of the Board, the filing of a registration statement
covering the Registrable Securities would (x) materially interfere with a significant acquisition, corporate reorganization, or
other similar transaction involving the Company; (y) require premature disclosure of material information that the Company has
a bona fide business purpose for preserving as confidential; or (z) render the Company unable to comply with requirements under
the Securities Act or Exchange Act, and the Board concludes, as a result, that it is in the best interests of the Company to defer
the filing of such registration statement at such time, and (ii) the Company shall furnish to such Holders a certificate signed
by the President (or other comparable senior executive officer) of the Company stating that in the good faith judgment of the Board,
it would be materially detrimental to the Company for such registration statement to be filed in the near future and that it is,
therefore, in the best interests of the Company to defer the filing of such registration statement, then (in addition to the limitations
set forth in Section 2.1(b)(v) above) the Company shall have the right to defer such filing for a period of not more
than one hundred (100) days after receipt of the request of the Initiating Holders, and, provided further, that the Company
shall not defer its obligation in this manner more than two (2) times in any twelve-month period.

 

(d)             
Other Shares. The registration statement filed pursuant to the request of the Initiating Holders may,
subject to the provisions of Section 2.1(e), include Other Shares, and may include securities of the Company being
sold for the account of the Company.

 

(e)              
Underwriting. If the Initiating Holders intend to distribute the Registrable Securities covered by their
request by means of an underwriting, they shall so advise the Company as part of their request made pursuant to this Section 2.1
and the Company shall include such information in the written notice given pursuant to Section 2.1(a)(i). In such event,
the right of any Holder to include all or any portion of its Registrable Securities in a registration pursuant to this Section 2.1
shall be conditioned upon such Holder’s participation in a underwriting. In such case, if the Company shall request inclusion
in any registration pursuant to Section 2.1 of securities being sold for its own account, or if other persons shall
request inclusion in any registration pursuant to Section 2.1, the Initiating Holders shall, on behalf of all Holders,
offer to include such securities in the underwriting and such offer shall be conditioned upon the participation of the Company
or such other persons in such underwriting and the inclusion of the Company’s and such person’s other securities of
the Company and their acceptance of the further applicable provisions of this Section 2 (including Section 2.10).
The Company shall (together with all Holders and other persons proposing to distribute their securities through such underwriting)
enter into an underwriting agreement in customary form with the representative of the underwriter or underwriters selected for
such underwriting by the Initiating Holders holding in the aggregate of a majority of the Registrable Securities held by the Initiating
Holders, which underwriters are reasonably acceptable to the Company; provided, however, that the liability of each holder shall
be several and not joint, and limited to an amount equal to the net proceeds from the offering received by such Holder.

 

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Notwithstanding
any other provision of this Section 2.1, if the underwriters advise the Initiating Holders in writing that marketing
factors require a limitation on the number of shares to be underwritten, the number of Registrable Securities and Other Shares
that may be so included shall be allocated as follows: (i) first, among all Holders requesting to include Registrable Securities
in such registration statement based on the pro rata percentage of Registrable Securities held by such Holders, assuming conversion
(provided that if, by operation of this clause (i), the number of Registrable Securities to be so included is reduced to less than
50% of the aggregate number of Registrable Securities so requested by all Holders to be included, then the Holders in the aggregate
of a majority of the Registrable Securities; may withdraw the request for such registration and, in such a case, (A) such registration
shall not be counted as a registration “initiated” by the Company for purposes of Section 2.1(b)(iv) or “effected”
by the Company for purposes of Section 2.3(b)(iii) and (B) the Company shall bear the Registration Expenses of such registration
notwithstanding any provision of Section 2.4 to the contrary); (ii) second, among all Other Selling Stockholders requesting
to include Other Shares in such registration statement based on the pro rata percentage of Other Shares held by such Other Selling
Stockholders, assuming conversion; and (iii) third, to the Company, which the Company may allocate, at its discretion, for its
own account, or for the account of other stockholders or employees of the Company. If a person who has requested inclusion in such
registration as provided above does not agree to the terms of any such underwriting, such person shall be excluded therefrom by
written notice from the Company, the underwriter or, if applicable, the Initiating Holders. The securities so excluded shall also
be withdrawn from registration. Any Registrable Securities or other securities excluded or withdrawn from such underwriting shall
also be withdrawn from such registration. If shares are so withdrawn from the registration and if the number of shares to be included
in such registration was previously reduced as a result of marketing factors pursuant to this Section 2.1(e), then
the Company shall then offer to all Holders and Other Selling Stockholders who have retained rights to include securities in the
registration the right to include additional Registrable Securities or Other Shares in the registration in an aggregate amount
equal to the number of shares so withdrawn, with such shares to be allocated among such Holders and Other Selling Stockholders
requesting additional inclusion, as set forth above.

 

2.2             
Company Registration.

 

(a)              
Registration. If the Company shall determine to register any of its securities either for its own account
or the account of a security holder or holders, other than a registration pursuant to Section 2.1 or Section 2.3,
a registration relating solely to employee benefit plans, a registration relating to the offer and sale of debt securities only,
or a registration relating to a corporate reorganization or other Rule 145 transaction, the Company will:

 

(i)                
promptly give written notice of the proposed registration to all Holders; and

 

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(ii)             
use its commercially reasonable efforts to include in such registration (and any related qualification under blue sky laws
or other compliance), except as set forth in Section 2.2(b) below, and in any underwriting involved therein, all of
such Registrable Securities as are specified in a written request or requests made by any Holder or Holders received by the Company
within ten (10) days after such written notice from the Company is mailed or delivered. Such written request may specify all or
a part of a Holder’s Registrable Securities.

 

(b)             
Underwriting. If the registration of which the Company gives notice is for a registered public offering
involving an underwriting, the Company shall so advise the Holders as a part of the written notice given pursuant to Section 2.2(a)(i).
In such event, the right of any Holder to registration pursuant to this Section 2.2 shall be conditioned upon such
Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting
to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with
the Company, the Other Selling Stockholders and other holders of securities of the Company with registration rights to participate
therein distributing their securities through such underwriting) enter into an underwriting agreement in customary form with the
representative of the underwriter or underwriters selected by the Company.

 

Notwithstanding any other
provision of this Section 2.2, if the underwriters advise the Company in writing that marketing factors require a limitation
on the number of shares to be underwritten, the underwriters may (subject to the limitations set forth below) limit the number
of Registrable Securities to be included in, the registration and underwriting, the Company shall so advise all holders of securities
requesting registration, and the number of shares of securities that are entitled to be included in the registration and underwriting
shall be allocated, as follows: (i) first, to the Company for securities being sold for its own account; (ii) second,
to the Holders requesting to include Registrable Securities in such registration statement based on the pro rata percentage of
Registrable Securities held by such Holders, assuming conversion; and (iii) third, to the Other Selling Stockholders requesting
to include Other Shares in such registration statement based on the pro rata percentage of Other Shares held by such Other Selling
Stockholders, assuming conversion. Notwithstanding the foregoing, no such reduction shall reduce the value of the Registrable Securities
of the Holders included in such registration below twenty-five percent (25%) of the total value of securities included in such
registration, unless such offering is an Initial Public Offering and such registration does not include shares of any Other Selling
Stockholder (excluding shares registered for the account of the Company), in which event any or all of the Registrable Securities
of such Holders may be excluded.

 

If a person who
has requested inclusion in such registration as provided above does not agree to the terms of any such underwriting, such person
shall also be excluded therefrom by written notice from the Company or the underwriter. The Registrable Securities or other securities
so excluded shall also be withdrawn from such registration. Any Registrable Securities or other securities excluded or withdrawn
from such underwriting shall be withdrawn from such registration.

 

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(c)              
Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration
initiated by it under this Section 2.2 prior to the effectiveness of such registration whether or not any Holder has
elected to include securities in such registration.

 

2.3             
Registration on Form S-3.

 

(a)              
Request for Form S-3 Registration. After its Initial Public Offering, the Company shall use its commercially
reasonable efforts to qualify for registration on Form S-3 or any comparable or successor form or forms. After the Company has
qualified for the use of Form S-3, in addition to the rights contained in the foregoing provisions of this Section 2 and
subject to the conditions set forth in this Section 2.3, if the Company shall receive from a Holder or Holders of Registrable
Securities a written request that the Company effect any registration on Form S-3 or any similar short form registration statement
with respect to all or part of the Registrable Securities (such request shall state the number of shares of Registrable Securities
to be disposed of and the intended methods of disposition of such shares by such Holder or Holders), the Company will take all
such action with respect to such Registrable Securities as required by Sections 2.1(a)(i) and 2.1(a)(ii).

 

(b)             
Limitations on Form S-3 Registration. The Company shall not be obligated to effect, or take any action
to effect, any such registration pursuant to this Section 2.3:

 

(i)                
In the circumstances described in any of Sections 2.1(b)(i), 2.1(b)(iii) or 2.1(b)(v);

 

(ii)               
If the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration,
propose to sell Registrable Securities and such other securities (if any) on Form S-3 at an aggregate price to the public
of less than $2,000,000; or

 

(iii)              
If, in a given twelve-month period, the Company has effected two (2) such registrations in such period.

 

(c)             
Deferral. The provisions of Section 2.1(c) shall apply to any registration pursuant to this
Section 2.3.

 

(d)            
Underwriting. If the Holders of Registrable Securities requesting registration under this Section 2.3
intend to distribute the Registrable Securities covered by their request by means of an underwriting, the provisions of Section
2.1(e) shall apply to such registration. Notwithstanding anything contained herein to the contrary, registrations effected
pursuant to this Section 2.3 shall not be counted as requests for registration or registrations effected pursuant to Section 2.1.

 

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2.4             
Expenses of Registration. All Registration Expenses incurred in connection with registrations pursuant
to Sections 2.1, 2.2 and 2.3 hereof shall be borne by the Company; provided, however, that,
subject to Section 2.1(e), the Company shall not be required to pay for any Registration Expenses of any registration proceeding
begun pursuant to Sections 2.1 and 2.3 if the registration request is subsequently withdrawn at the request
of the Holders in the aggregate of a majority of the Registrable Securities; or because a sufficient number of Holders shall have
withdrawn so that the minimum offering conditions set forth in Section 2.1 and 2.3 are no longer satisfied (in which
case all participating Holders shall bear such expenses pro rata among each other based on the number of Registrable Securities
requested to be so registered), unless the Holders in the aggregate of a majority of the Registrable Securities agree to forfeit
their right to a demand registration pursuant to Section 2.1; provided, however, in the event that a withdrawal
by the Holders is based upon material adverse information relating to the Company that is different from the information known
or available (upon request from the Company or otherwise) to the Holders requesting registration at the time of their request for
registration under Sections 2.1 or 2.3, such registration shall not be treated as a counted registration for
purposes of Sections 2.1 or 2.3 hereof, and the Company shall bear the Registration Expenses for such registration.
All Selling Expenses relating to securities registered on behalf of the Holders shall be borne by the holders of securities included
in such registration pro rata among each other on the basis of the number of Registrable Securities so registered.

 

2.5             
Registration Procedures. In the case of each registration effected by the Company pursuant to Section
2, the Company will keep each Holder advised in writing as to the initiation of each registration and as to the completion
thereof. At its expense, the Company will use its commercially reasonable efforts to:

 

(a)             
Keep such registration effective for a period of ending on the earlier of the date which is sixty (60) days from the
effective date of the registration statement or such time as the Holder or Holders have completed the distribution described in
the registration statement relating thereto;

 

(b)             
To the extent the Company is a well-known seasoned issuer (as defined in Rule 405 under the Securities Act) (a “WKSI”)
at the time any request for registration is submitted to the Company in accordance with Section 2.3, (i) if so requested,
file an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) (an “automatic shelf
registration statement”) to effect such registration, and (ii) remain a WKSI (and not become an ineligible issuer
(as defined in Rule 405 under the Securities Act)) during the period during which such automatic shelf registration statement is
required to remain effective in accordance with this Agreement;

 

(c)             
Prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus
used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with
respect to the disposition of all securities covered by such registration statement for the period set forth in subsection (a)
above;

 

(d)             
Furnish such number of prospectuses, including any preliminary prospectuses, and other documents incident thereto, including
any amendment of or supplement to the prospectus, as a Holder from time to time may reasonably request;

 

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(e)             
Register and qualify the securities covered by such registration statement under such other securities or Blue Sky laws
of such jurisdiction as shall be reasonably requested by the Holders; provided, that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in
any such states or jurisdictions;

 

(f)              
Notify each seller of Registrable Securities covered by such registration statement at any time when a prospectus relating
thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus
included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a
material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in light of
the circumstances then existing, and following such notification promptly prepare and furnish to such seller a reasonable number
of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers
of such shares, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading or incomplete in light of the circumstances then
existing;

 

(g)             
If at any time when the Company is required to re-evaluate its WKSI status for purposes of an automatic shelf registration
statement used to effect a request for registration in accordance with Section 2.3, (i) the Company determines that
it is not a WKSI, (ii) the registration statement is required to be kept effective in accordance with this Agreement, and
(iii) the registration rights of the applicable Holders have not terminated, reasonably promptly amend the registration statement
onto a form the Company is then eligible to use or file a new registration statement on such form, and keep such registration statement
effective in accordance with the requirements otherwise applicable under this Agreement;

 

(h)             
If (i) a registration made pursuant to a shelf registration statement is required to be kept effective in accordance
with this Agreement after the third anniversary of the initial effective date of the shelf registration statement and (ii) the
registration rights of the applicable Holders have not terminated, file a new registration statement with respect to any unsold
Registrable Securities subject to the original request for registration prior to the end of the three year period after the initial
effective date of the shelf registration statement, and keep such registration statement effective in accordance with the requirements
otherwise applicable under this Agreement;

 

(i)              
Furnish, on the date that such Registrable Securities are delivered to the underwriters for sale, if such securities
are being sold through underwriters, (i) an opinion, dated as of such date, of the counsel representing the Company for the
purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering,
addressed to the underwriters, if any, and (ii) a “comfort” letter dated as of such date, from the independent
certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants
to underwriters in an underwritten public offering, addressed to the underwriters;

 

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(j)               
Provide a transfer agent and registrar for all Registrable Securities registered pursuant to such registration statement
and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration;

 

(k)             
Otherwise comply with all applicable rules and regulations of the Commission, and make available to its security holders,
as soon as reasonably practicable, an earnings statement covering the period of at least twelve months, but not more than eighteen
months, beginning with the first month after the effective date of the Registration Statement, which earnings statement shall satisfy
the provisions of Section 11(a) of the Securities Act;

 

(l)              
Cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which
similar securities issued by the Company are then listed; provided that in the case of the Initial Public Offering, the
Registrable Securities shall be listed on a national securities exchange; and

 

(m)            
In connection with any underwritten offering pursuant to a registration statement filed pursuant to Section 2.1
hereof, enter into an underwriting agreement in form reasonably necessary to effect the offer and sale of Common Stock, provided
such underwriting agreement contains reasonable and customary provisions, and provided further, that each Holder participating
in such underwriting shall also enter into and perform its obligations under such an agreement.

 

2.6             
Indemnification.

 

(a)             
To the extent permitted by law, the Company will indemnify and hold harmless each Holder, each of its officers, directors
and partners, legal counsel and accountants and each person controlling such Holder within the meaning of Section 15 of the
Securities Act, with respect to which registration, qualification or compliance has been effected pursuant to this Section 2,
and each underwriter, if any, and each person who controls within the meaning of Section 15 of the Securities Act any underwriter,
against all expenses, claims, losses, damages and liabilities (or actions, proceedings or settlements in respect thereof) arising
out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained or incorporated by
reference in any registration statement, prospectus, offering circular, issuer free writing prospectus (as defined in Rule 433
of the Securities Act), issuer information (as defined in Rule 433 of the Securities Act) filed or required to be filed pursuant
to Rule 433(d) under the Securities Act or any other document incident to any such registration or related qualification or compliance,
(ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, or (iii) any violation (or alleged violation) by the Company of the Securities Act,
any state securities laws or any rule or regulation thereunder applicable to the Company and relating to action or inaction required
of the Company in connection with any offering covered by such registration, qualification or compliance, and the Company will
reimburse each such Holder, each of its officers, directors, partners, legal counsel and accountants and each person controlling
such Holder, each such underwriter and each person who controls any such underwriter, for any legal and any other expenses reasonably
incurred in connection with investigating and defending or settling any such claim, loss, damage, liability or action; provided
that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability, or action arises
out of or is based on any untrue statement or omission based upon written information furnished to the Company by such Holder,
any of such Holder’s officers, directors, partners, legal counsel or accountants, any person controlling such Holder, such
underwriter or any person who controls any such underwriter, and stated to be specifically for use therein except to the extent
such information was corrected in a subsequent writing prior to or concurrently with the sale of Registrable Securities to the
person or entity asserting the claim; and provided, further that, the indemnity agreement contained in this Section 2.6(a)
shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected
without the consent of the Company (which consent shall not be unreasonably withheld).

 

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(b)             
To the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are included in the
securities as to which such registration, qualification or compliance is being effected, indemnify and hold harmless the Company,
each of its directors, officers, partners, legal counsel and accountants and each underwriter, if any, of the Company’s securities
covered by such a registration statement, each person who controls the Company or such underwriter within the meaning of Section 15
of the Securities Act, each other such Holder, and each of their officers, directors and partners, and each person controlling
each other such Holder, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based
on (in each case only to the extent that such claims, losses, damages and liabilities arise out of or are based upon actions or
omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling Holder expressly
for use in connection with such registration except to the extent such information was corrected in a subsequent writing prior
to or concurrently with the sale of Registrable Securities to the person or entity asserting the claim): (i) any untrue statement
(or alleged untrue statement) of a material fact contained or incorporated by reference in any prospectus, offering circular or
other document (including any related registration statement, notification, or the like) incident to any such registration, qualification
or compliance, or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and will reimburse the Company and such Holders, directors, officers,
partners, legal counsel and accountants, persons, underwriters, or control persons for any legal or any other expenses reasonably
incurred in connection with investigating or defending any such claim, loss, damage, liability or action, in each case to the extent,
but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such
registration statement, prospectus, offering circular or other document in reliance upon and in conformity with written information
furnished to the Company by such Holder and stated to be specifically for use therein; provided, however, that the
obligations of such Holder hereunder shall not apply to amounts paid in settlement of any such claims, losses, damages or liabilities
(or actions in respect thereof) if such settlement is effected without the consent of such Holder (which consent shall not be unreasonably
withheld); and provided that in no event shall any indemnity under this Section 2.6(b) exceed the net proceeds
from the offering received by such Holder, except in the case of fraud or willful misconduct by such Holder.

 

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(c)             
Each party entitled to indemnification under this Section 2.6 (the “Indemnified Party”) shall
give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after
such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying
Party to assume the defense of such claim or any litigation resulting therefrom; provided that counsel for the Indemnifying
Party, who shall conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the Indemnified
Party (whose approval shall not be unreasonably withheld), and the Indemnified Party may participate in such defense at such party’s
expense; and provided further that the failure of any Indemnified Party to give notice as provided herein shall not relieve
the Indemnifying Party of its obligations under this Section 2.6, to the extent such failure is not prejudicial. No Indemnifying
Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to entry
of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant
or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. Each Indemnified
Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request
in writing and as shall be reasonably required in connection with defense of such claim and litigation resulting therefrom.

 

(d)             
If the indemnification provided for in this Section 2.6 is held by a court of competent jurisdiction to be unavailable
to an Indemnified Party with respect to any loss, liability, claim, damage, or expense referred to herein, then the Indemnifying
Party, in lieu of indemnifying such Indemnified Party hereunder, shall contribute to the amount paid or payable by such Indemnified
Party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative
fault of the Indemnifying Party on the one hand and of the Indemnified Party on the other in connection with the statements or
omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations.
The relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information
supplied by the Indemnifying Party or by the Indemnified Party and the parties’ relative intent, knowledge, access to information,
and opportunity to correct or prevent such statement or omission. No person or entity will be required under this Section 2.6(d)
to contribute any amount in excess of the net proceeds from the offering received by such person or entity, except in the case
of fraud or willful misconduct by such person or entity. No person or entity guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of
such fraudulent misrepresentation.

 

(e)              
Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the
underwriting agreement entered into by the Investors in connection with the underwritten public offering are in conflict with the
foregoing provisions, the provisions in the underwriting agreement shall control; provided that the failure of the underwriting
agreement to provide for or address a matter provided for or addressed in the foregoing provisions shall not be a conflict with
the foregoing provisions and, in such event, the foregoing provisions shall control.

 

2.7             
Information by Holder.  Each Holder of Registrable Securities shall furnish to the Company such information
regarding such Holder and the distribution proposed by such Holder as the Company may reasonably request in writing and as shall
be reasonably required in connection with any registration, qualification, or compliance referred to in this Section 2.

 

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2.8             
Restrictions on Transfer.

 

(a)             
The holder of each certificate representing Registrable Securities by acceptance thereof agrees to comply in all respects
with the provisions of this Section 2.8. Each Holder agrees not to make any sale, assignment, transfer, pledge or other
disposition of all or any portion of the Restricted Securities, or any beneficial interest therein, unless and until:

 

(i)              
There is then in effect a registration statement under the Securities Act covering such proposed disposition and the disposition
is made in accordance with the registration statement; or

 

(ii)             
(x) the Holder shall have given prior written notice to the Company of the Holder’s intention to make such disposition
and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition, (y)
if such transfer is prior to the Company’s Initial Public Offering, the transferee thereof shall have agreed in writing for
the benefit of the Company to take and hold such Restricted Securities subject to, and to be bound by, the terms and conditions
set forth in this Agreement, including, without limitation, this Section 2.8 and Section 2.10, and (z)
if reasonably requested by the Company, the Holder shall have furnished the Company, at its expense, with (1) an opinion of
counsel reasonably satisfactory to the Company to the effect that such disposition will not require registration of such Restricted
Securities under the Securities Act or (2) a “no action” letter from the Commission to the effect that the transfer
of such securities without registration will not result in a recommendation by the staff of the Commission that action be taken
with respect thereto, whereupon the holder of such Restricted Securities shall be entitled to transfer such Restricted Securities
in accordance with the terms of the notice delivered by the Holder to the Company.

 

(b)              
Notwithstanding the provisions of Section 2.8(a), no such registration statement, opinion of counsel or
 “no action” letter shall be required for (i) a transfer not involving a change in beneficial ownership, (ii) a
transfer under Rule 144, except in unusual circumstances, or (iii) transactions involving the transfer of Restricted Securities
by any Holder to (x) a parent, subsidiary or other Affiliate of the Holder; (y) any of the Holder’s partners, members
or other equity owners, or retired partners, retired members or other equity owners, or to the estate of any of the Holder’s
partners, members or other equity owners or retired partners, retired members or other equity owners; or (z) any venture capital
fund or other investment fund that is controlled by or under common control with one or more general partners or managing members
of, or shares the same management company with, the Holder; provided, in each case, that the Holder shall give written notice
to the Company of the Holder’s intention to effect such disposition and shall have furnished the Company with a detailed
description of the manner and circumstances of the proposed disposition and, if such transfer is prior to the Company’s Initial
Public Offering, the transferee thereof shall have agreed in writing for the benefit of the Company to take and hold such Restricted
Securities subject to, and to be bound by, the terms and conditions set forth in this Agreement, including, without limitation,
this Section 2.8 and Section 2.10.

 

    16

     

    

 

(c)             
Each certificate representing Registrable Securities shall (unless otherwise permitted by the provisions of this Agreement)
be stamped or otherwise imprinted with a legend substantially similar to the following (in addition to any legend required under
applicable state securities laws):

 

THE OFFER
AND SALE OF THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR
HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO REGISTRATION OR AN EXEMPTION THEREFROM.
THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR
TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

 

THE SHARES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A LOCK-UP PERIOD IN THE EVENT
OF A PUBLIC OFFERING, AS SET FORTH IN AN INVESTORS’ RIGHTS AGREEMENT AMONG THE COMPANY AND THE ORIGINAL HOLDERS OF THESE
SHARES, COPIES OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE COMPANY.

 

The
Holders consent to the Company making a notation on its records and giving instructions to any transfer agent of the Restricted
Securities in order to implement the restrictions on transfer established in this Section 2.8.

 

(d)             
The first legend referring to federal and state securities laws identified in Section 2.8(b) hereof stamped
on a certificate evidencing the Restricted Securities and the stock transfer instructions and record notations with respect to
such Restricted Securities shall be removed and the Company shall issue a certificate without such legend to the holder of such
Restricted Securities if (i) such securities are registered under the Securities Act, or (ii) such holder provides the
Company with an opinion of counsel reasonably acceptable to the Company to the effect that a sale or transfer of the securities
may be made without registration or qualification. The second legend referring to transferability restrictions, including a lock-up
period, stamped on a certificate evidencing the Restricted Securities and such stock transfer instructions and record notations
with respect to such Restricted Securities shall be removed and the Company shall issue a certificate without such legend to the
holder of such Restricted Securities if the restrictions set forth in Section 2.10 (and any underwriter lock-up agreement)
have expired or are terminated and such holder provides the Company with an opinion of counsel reasonably acceptable to the Company
to the effect that a sale or transfer of the securities may be made lawfully disposed of without such legend without registration
or qualification.

 

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(e)             
Notwithstanding anything to the contrary in this Agreement, (i) any or all of an Investor’s rights hereunder may
be exercised by, and any or all of an Investor’s obligations hereunder may be discharged by, one or more Affiliates of such
Investor designated by such Investor and (ii) more specifically, (x) an Investor may cause any shares of capital stock of the Company
(or any securities directly or indirectly exercisable for, or convertible into or exchangeable for, such shares) required or permitted
to be purchased or otherwise acquired hereunder by such Investor to be so purchased or acquired, in lieu of such Investor, by an
Affiliate of such Investor (and such Affiliate shall then become an “Investor” hereunder), and (y) any Investor holding
securities directly or indirectly exercisable for, or convertible into or exchangeable for, shares of capital stock of the Company
shall have the right to have any such shares (or other securities) issuable upon the conversion, exercise or exchange of the securities
held by such Investor issued in the name of one or more Affiliates of such Investor designated by such Investor (and each such
Affiliate shall then become an “Investor” hereunder).

 

2.9             
Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations
of the Commission that may permit the sale of the Restricted Securities to the public without registration, the Company agrees
to use its commercially reasonable efforts to:

 

(a)              
Make and keep adequate current public information with respect to the Company available in accordance with Rule 144
under the Securities Act, at all times from and after ninety (90) days following the effective date of the first registration under
the Securities Act filed by the Company for an offering of its securities to the general public;

 

(b)              
File with the Commission in a timely manner all reports and other documents required of the Company under the Securities
Act and the Exchange Act at any time after it has become subject to such reporting requirements; and

 

(c)              
So long as a Holder owns any Restricted Securities, furnish to the Holder forthwith upon written request a written statement
by the Company as to its compliance with the reporting requirements of Rule 144 (at any time from and after ninety (90) days
following the effective date of the first registration statement filed by the Company for an offering of its securities to the
general public), and of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements),
a copy of the most recent annual or quarterly report of the Company, and such other reports and documents so filed as a Holder
may reasonably request in availing itself of any rule or regulation of the Commission allowing a Holder to sell any such securities
without registration.

 

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2.10         
Market Stand-Off Agreement.  Each Holder hereby agrees that it will not, without the prior written
consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the Initial
Public Offering and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred
eighty (180) days) (a) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any
option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly,
any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock held immediately
before the effective date of the registration statement for such offering, or (b) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of such Common Stock, whether any
such transaction described in clause (a) or (b) above is to be settled by delivery of Common Stock or other securities, in
cash or otherwise. The foregoing provisions of this Section 2.10 shall apply only to the Initial Public Offering, shall
not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, and shall only be applicable to the
Holders if all officers, directors one percent (1%) or greater stockholders of the Company enter into similar agreements and are
subject to the same restrictions. The underwriters in connection with the Initial Public Offering are intended third-party beneficiaries
of this Section 2.10 and shall have the right, power and authority to enforce the provisions hereof as though they
were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters
in the Initial Public Offering that are consistent with this Section 2.10 or that are necessary to give further effect
thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters
shall apply pro rata to all Company stockholders that are subject to such agreements, based on the number of shares subject to
such agreements. For the avoidance of doubt, none of the provisions of this Section 2.10
shall apply to shares of Common Stock acquired in the Initial Public Offering or in the open market following the
Initial Public Offering by a Holder or its Affiliates.

 

In order to enforce
the foregoing covenant, the Company may impose stop-transfer instructions with respect to the Registrable Securities of each Holder
(and the shares or securities of every other person subject to the foregoing restriction) until the end of such period.

 

2.11         
Delay of Registration. No Holder shall have any right to take any action to restrain, enjoin, or
otherwise delay any registration as the result of any controversy that might arise with respect to the interpretation or implementation
of this Section 2.

 

2.12        
Transfer or Assignment of Registration Rights. The rights to cause the Company to register securities
granted to a Holder by the Company under this Section 2 may be transferred or assigned by a Holder only to a transferee
or assignee of not less than twenty percent (20%) of the Registrable Securities (as presently constituted and subject to subsequent
adjustments stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like) then held by such Holder;
provided that (i) such transfer or assignment of Registrable Securities is effected in accordance with the terms of
Section 2.8 hereof and applicable securities laws, (ii) the Company is given written notice prior to said transfer
or assignment, stating the name and address of the transferee or assignee and identifying the securities with respect to which
such registration rights are intended to be transferred or assigned and (iii) the transferee or assignee of such rights assumes
in writing the obligations of such Holder under this Agreement, including without limitation the obligations set forth in Section
2.10. The foregoing twenty percent (20%) threshold shall not be applicable to any transfers among Affiliates.

 

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2.13         
Limitations on Subsequent Registration Rights.  From and after the date of this Agreement, the Company
shall not, without the prior written consent of the Holders in the aggregate of a majority of the Registrable Securities, enter
into any agreement with any holder or prospective holder of any securities of the Company giving such holder or prospective holder
any registration rights the terms of which are senior to or on parity with the registration rights granted to the Holders hereunder.

 

2.14         
Termination of Registration Rights. The right of any Holder to request registration or inclusion in any
registration pursuant to Sections 2.1, 2.2 or 2.3 above shall terminate on the earlier of: (i) following
the closing of the Company’s first registered public offering of Common Stock, with respect to any Holder who then holds
an amount of Registrable Securities that is equal to less than one percent (1%) of the outstanding securities of the Company and
may sell all such Registrable Securities under Rule 144 during any ninety (90) day period and (ii) four (4) years after the closing
of a Qualified Public Offering.

 

3.                 
Certain Covenants.

 

The Company hereby
covenants and agrees, as follows:

 

3.1             
Basic Financial Information and Inspection Rights.

 

(a)             
Basic Financial Information. As long as at least twenty percent (20%) of the shares of Preferred Stock
originally issued remain outstanding, subject to as adjusted for any stock splits, stock dividends, combinations, subdivisions,
recapitalizations or the like, the Company will deliver to each Major Investor:

 

(i)               
as soon as practicable after the end of each fiscal year of the Company, and in any event within 150 days after the end
of each fiscal year of the Company a consolidated balance sheet of the Company and its subsidiaries, if any, as at the end of such
fiscal year, and consolidated statements of income and cash flows of the Company and its subsidiaries, if any, for such year, prepared
in accordance with U.S. generally accepted accounting principles consistently applied, and audited and certified by independent
public accountants of recognized national standing selected by the Company, which audit may be waived by a vote of the Requisite
Holders, in which case the Company shall deliver such unaudited statements within the later of: (i) 15 days after such waiver or
(ii) 90 days after the end of such fiscal year;

 

(ii)             
as soon as practicable after the end of each quarterly accounting period in each fiscal year of the Company, and in any
event within 45 days after the end of each quarterly accounting period in each fiscal year of the Company, an unaudited consolidated
balance sheet of the Company and its subsidiaries, if any, as of the end of each such quarterly period, and unaudited consolidated
statements of income and cash flows of the Company and its subsidiaries, if any, for such period, prepared in accordance with U.S.
generally accepted accounting principles consistently applied, subject to changes resulting from normal year-end audit adjustments
and such financial statements may not contain accompanying notes;

 

    20

     

    

 

(iii)            
as soon as practicable after the each month, and in any event within 30 days after the end of each such month, an unaudited
consolidated balance sheet of the Company and its subsidiaries, if any, as of the end of each such monthly period, and unaudited
consolidated statements of income and cash flows of the Company and its subsidiaries, if any, for such period, prepared in accordance
with U.S. generally accepted accounting principles consistently applied, subject to changes resulting from normal year-end audit
adjustments and such financial statements may not contain accompanying notes, along with a comparison of such results to the Company’s
operating plan;

 

(iv)            
at least 30 days prior to the beginning of each of the Company’s fiscal years an annual operating plan for such fiscal
year (and as soon as available, any subsequent material revisions thereto);

 

(v)             
as soon as practicable after the end of each fiscal year, and in any event within 30 days thereafter, a report setting forth
in detail all equity and debt holders of the Company as of the end of such year; and

 

(vi)           
a capitalization table promptly upon the request of a Major Investor, but no more frequently than once per calendar quarter.

 

Notwithstanding
anything else in this Section 3.1 to the contrary, the Company may cease providing the information set forth in this
Section 3.1 during the period starting with the date 30 days before the Company’s good-faith estimate of the date
of filing of a registration statement if it reasonably concludes it must do so to comply with the SEC rules applicable to such
registration statement and related offering; provided that the Company’s covenants under this Section 3.1 shall be reinstated
at such time as the Company is no longer actively employing its commercially reasonable efforts to cause such registration statement
to become effective.

 

(b)             
Inspection Rights. The Company shall permit each Major Investor to visit and inspect any of the properties
of the Company or any of its subsidiaries during normal business hours or at such other reasonable times as may be requested, and
to discuss the affairs, finances and accounts of the Company or any of its subsidiaries with its officers, and to review such information
as is reasonably requested all at such reasonable times and as often as may be reasonably requested; provided, however,
that the Company shall not be obligated under this Section 3.1(b) with respect to a competitor of the Company (as determined
by the Board in good faith) or with respect to information which the Board determines in good faith is highly confidential or attorney-client
privileged and should not, therefore, be disclosed; provided, however that no Major Investor that is a venture capital fund or
other collective investment vehicle shall be deemed a competitor. Each Major Investor may exercise its rights under this Section
3.1(b) only for purposes reasonably related to its interests as a stockholder of the Company. The rights granted pursuant to
this Section 3.1(b) may not be assigned or otherwise conveyed to any Holder or by any subsequent transferee of any such
rights without the prior written consent of the Company; provided, however, that a Major Investor shall be permitted to
transfer rights granted pursuant to this Section 3.1(b) to partners, members, limited partners, retired partners, stockholders
or affiliated venture capital or similar investment funds of such Major Investor, but not to any operating entity that is a competitor
of the Company, as determined by the Board in good faith, nor to any officer or director of such operating entity; provided that
such permitted transferee agrees in writing to be bound by the obligations of confidentiality set forth in Section 3.2 below
or is subject to a separate written agreement that provides for similar terms of confidentiality that are no less stringent than
those set forth in Section 3.2.

 

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3.2             
Confidentiality.  Each Holder
agrees that such Holder will keep confidential and will not use for any purpose (other than to monitor or make decisions with
respect to its investment) or disclose or divulge any confidential information obtained from the Company pursuant to the terms
of this Agreement (including notice of the Company’s intention to file a registration statement and the contents of any
financial statements received), unless such confidential information (a) is known or becomes known to the public in general (other
than as a result of a breach of this Section 3.2 by such Holder or as a result of a breach by a third party of any obligation
of confidentiality such third party may have to the Company of which such Holder is aware), (b) is or has been independently developed
or conceived by the Holder without use of or reference to the Company’s confidential information, or (c) is or has been
made known or disclosed to the Holder by a third party without a breach of any obligation of confidentiality such third party
may have to the Company; provided, however, that a Holder may disclose confidential information (i) to its attorneys, accountants,
consultants, and other professionals to the extent necessary to obtain their services in connection with monitoring its investment
in the Company, provided such persons agree to hold such information confidentially as provided herein; (ii) to any prospective
purchaser of any Registrable Securities from such Holder, if such prospective purchaser agrees to be bound by the provisions of
this Section 3.2; (iii) to any existing or prospective Affiliate, partner, member, stockholder, or wholly owned subsidiary
of such Holder in the ordinary course of business, but only on the condition that such Affiliate, partner, member, stockholder
or wholly owned subsidiary of such Holder shall only use such confidential information in connection with monitoring such Holder’s
investment and not for any other purpose, and provided that such Holder informs such person or entity that such information is
confidential and directs such person or entity to maintain confidential treatment of such information; (iv) to the extent required
in connection with any routine or periodic examination or similar process by any regulatory or self-regulatory body or authority
not specifically directed at the Company or the confidential information obtained from the Company pursuant to the terms of the
Agreement, including, without limitation, quarterly or annual reports, or (v) as may otherwise be required by and only to the
extent required by applicable law, provided that, with respect to this clause (v), the Holder promptly notifies the Company
of, and in advance of, such disclosure and takes reasonable steps to minimize the extent of any such required disclosure. Notwithstanding
the foregoing, a Fund (as defined in Section 3.3) has no duty or obligation to the Company to restrict such Fund’s
evaluation and/or participation in investment opportunities on the basis of having access to confidential information of the Company;
provided that nothing herein shall relieve any Fund or any other party from liability associated with use or disclosure of the
Company’s confidential information in breach of Section 3.2 above or associated with a breach of any other obligation
of confidentiality owed to the Company, nor liability associated with violating, breaching or misappropriating any proprietary
right of the Company, nor shall relieve any director or officer of the Company from any liability associated with his or her fiduciary
duties to the Company. The Investors and the Company acknowledge that trading and purchasing of securities shall be, as between
the Company and the Investors, the sole decision of the Investors participating in such trades or purchases, and the Company shall
have no liability in connection with such trading or purchasing of securities. For clarity, to the extent a Fund (including for
purposes of this Section 3.2 its respective affiliated investment funds) trades or purchases securities (other than securities
of the Company) in public markets or in private transactions, and such Investor does not disclose confidential information of
the Company in connection with such activities, such Investor owes no duty to the Company to refrain from trading or purchasing
securities as a result of the provisions set forth in this Section 3.2, (except to the extent that confidential information
of the Company includes material non-public information that is subject to any confidentiality obligation the Company has to any
third party issuer of securities whose securities are traded on a public market. In addition, the Company acknowledges and agrees
that in no event shall any Investor’s confidentiality and non-use obligations hereunder in any manner be deemed or construed
as limiting such Investor’s ability to trade, in accordance with applicable laws, any security of any company that has issued
securities that are publicly traded. The Company covenants and agrees that it shall use its commercially reasonable efforts not
to provide any material non-public information about any entity whose securities are traded on public markets to Citadel Multi-Strategy
Equities Master Fund Ltd. (“Surveyor”) or any representative of Surveyor.

 

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3.3              Right
to Conduct Activities. The Company hereby acknowledges that the Investors and their
Affiliates (each, a “Fund”) are investment funds, and as such invest in numerous portfolio companies
and have Affiliates, some of which may be deemed competitive with the Company’s business. Nothing in this Agreement shall
preclude or in any way restrict the Funds from holding, evaluating, selling or purchasing securities, including publicly traded
securities, of a particular enterprise, or investing or participating in any particular enterprise whether or not such enterprise
has products or services which compete with those of the Company; and the Company hereby agrees that, to the extent permitted
under applicable law, any such Fund shall not be liable to the Company for any claim arising out of, or based upon, (i) the investment
by any such Fund in any competitor, or (ii) actions taken by any partner, officer or other representative of such Fund, including
Affiliates that are advisers, to assist any such competitor, whether or not such action was taken as a member of the board of
directors of such competitor or otherwise, and whether or not such action has a detrimental effect on the Company; provided, however,
that nothing herein shall relieve any Fund or any other party from liability associated with use or disclosure of the Company’s
confidential information in breach of Section 3.2 above or associated with breach of any other obligation of confidentiality
owed to the Company nor liability associated with violating, breaching or misappropriating any proprietary right of the Company,
nor shall relieve any director or officer of the Company from any liability associated with his or her fiduciary duties to the
Company.

 

3.4              FCPA.
The Company covenants that it shall not (and shall not permit any of its subsidiaries or Affiliates or any of its or their respective
directors, officers, managers, employees, independent contractors, representatives or agents to) promise, authorize or make any
payment to, or otherwise contribute any item of value to, directly or indirectly, to any third party, including any Non-U.S. Official
(as (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)),
in each case, in violation of the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. The
Company further covenants that it shall (and shall cause each of its subsidiaries and Affiliates to) cease all of its or their
respective activities, as well as remediate any actions taken by the Company, its subsidiaries or affiliates, or any of their
respective directors, officers, managers, employees, independent contractors, representatives or agents in violation of the FCPA,
the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. The Company further represents that it shall
(and shall cause each of its subsidiaries and affiliates to) maintain systems of internal controls (including, but not limited
to, accounting systems, purchasing systems and billing systems) to ensure compliance with the FCPA, the U.K. Bribery Act, or any
other applicable anti-bribery or anti-corruption law. Upon request, the Company agrees to provide responsive information and/or
certifications concerning its compliance with applicable anti-corruption laws. The Company shall promptly notify each Fund if
the Company becomes aware of any enforcement action pursuant to such laws. The Company shall, and shall cause any direct or indirect
subsidiary or entity controlled by it, whether now in existence or formed in the future, to comply with the FCPA.

 

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3.5              Termination
of Covenants. The covenants set forth in Section 3.1 shall terminate and be
of no further force and effect after the earlier of: (a) the Initial Public Offering; and (b) the occurrence of a Liquidation
Event, except that such covenants shall not terminate upon the consummation of a sale of all or substantially all of the assets
of the Company; provided, however, that this Agreement may be terminated after such sale of all or substantially all of the assets
of the Company upon the consent of the Requisite Holders.

 

4.             Right of First Refusal. 

 

4.1              Grant
of Rights. Subject to the provisions of Section 4.2 through Section 4.5
below, the Company hereby grants to each Major Investor who is an “accredited investor” within the meaning of
applicable securities laws and regulations (a “ROFR Holder”), the right of first refusal to purchase
its Pro Rata Amount (as defined below) of New Securities which the Company may, from time to time, propose to sell and issue after
the date of this Agreement. A ROFR Holder’s “Pro Rata Amount,” for purposes of this right of first
refusal, is equal to the ratio of (a) the number of shares of Preferred Stock (and warrants or other securities exercisable
for Preferred Stock) calculated on an as exercised and as converted to Common Stock basis held by such ROFR Holder, to (b) the
total of all outstanding shares of Common Stock and Preferred Stock and all other shares of other convertible securities, rights,
options or warrants then outstanding, on an as exercised and as converted to Common Stock basis, and all shares of Common Stock
authorized under the Company’s equity incentive plans that are not issued and outstanding, and have not been reserved for
issuance pursuant to outstanding options to purchase Common Stock thereunder.

 

4.2              New
Securities. As used herein, “New Securities” shall mean
any capital stock (including Common Stock and/or Preferred Stock) of the Company whether now authorized or not, and rights, convertible
securities, options or warrants to purchase such capital stock, and securities of any type whatsoever that are, or may become,
exercisable or convertible into capital stock, including debt instruments convertible into capital stock; provided that
the term “New Securities” does not include (i) Exempted Securities, as defined in the Restated Certificate,
(ii) any shares of Series C Preferred Stock issued pursuant to the Series C Purchase Agreement, or (iii) any shares of stock
of the Company issued in the Initial Public Offering.

 

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4.3             
Notice. In the event the Company proposes
to undertake an issuance of New Securities, it shall give each ROFR Holder written notice of its intention, describing the type
of New Securities, and their price and the general terms upon which the Company proposes to issue the same. Each ROFR Holder shall
have fifteen (15) days after any such notice is mailed or delivered to agree to purchase such ROFR Holder’s Pro Rata Amount
(or such lesser amount as desired) of such New Securities for the price and upon the terms specified in the notice by giving written
notice to the Company and stating therein the quantity of New Securities to be purchased, if any.

 

4.4              Election
Period and Excess Securities. In the event the foregoing right of first refusal is
not exercised in full by all of the ROFR Holders within the fifteen (15) day period described in Section 4.3 above (the
 “Election Period”), the Company shall promptly notify in writing the ROFR Holders who have elected to
exercise their right of first refusal with respect to their full Pro Rata Amounts and shall offer such ROFR Holders the right
to acquire such unsubscribed New Securities. Each ROFR Holder shall have five (5) days after receipt of such notice to notify
the Company of its election to purchase all or a portion thereof of its pro rata portion of the unsubscribed New Securities, indicate
whether it intends to purchase unsubscribed New Securities in excess of its pro rata share (“Excess Securities”)
and, if so, the number of such unsubscribed New Securities it wishes to purchase. The Excess Securities, if any, shall be allocated
to participating ROFR Holders in a manner most consistent with the pro rata shares of such participating ROFR Holders as determined
in good faith by the Board. If the ROFR Holders fail to exercise in full their rights of first refusal, the Company shall have
forty-five (45) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby
shall be closed, if at all, within twenty (20) days from the date of said agreement) to sell that portion of the New Securities
with respect to which the ROFR Holders’ right of first refusal option set forth in this Section 4 was not exercised,
at a price and upon terms no more favorable to the purchasers thereof than specified in the Company’s notice to ROFR Holders
delivered pursuant to Section 4.3. In the event the Company enters into an agreement to sell such New Securities within
such forty-five (45) day period following the Election Period, or sells such New Securities within such twenty (20) day period
following the date of said agreement, the Company shall not thereafter issue or sell any New Securities, without first again offering
such securities to the ROFR Holders in the manner provided in this Section 4.

 

4.5              Waiver,
Expiration, Transfer. The rights of first refusal granted under this Section 4,
including notice with respect thereto, may be waived pursuant to Section 7.6 of this Agreement. Notwithstanding the foregoing,
if any of the waiving ROFR Holders purchase New Securities covered by the waiver, then each ROFR Holder shall have the right to
purchase up to the same percentage of its Pro Rata Amount of the New Securities purchased by the waiving ROFR Holder who purchased
the highest percentage of its respective Pro Rata Amount of the New Securities. The rights of first refusal granted under this
Section 4 shall expire immediately prior to the earlier: of (i) the Initial Public Offering and (ii) the closing of a Liquidation
Event, at which time such Holder shall no longer be deemed a ROFR Holder. The rights of first refusal of a ROFR Holder under this
Section 4 may be transferred subject to the same restrictions as any transfer of registration rights pursuant to Section
2.12. Notwithstanding anything else set forth above, a Holder shall be permitted to transfer rights granted pursuant to this
Section 4 in any amount to its Affiliates.

 

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5.             Other
Company Covenants. 

 

5.1              Proprietary
Information and Inventions Agreements. The Company shall require all employees and
consultants to execute and deliver a nondisclosure and proprietary rights assignment agreement (in the case of employees, in substantially
the form approved by Board).

 

5.2             
Equity Agreements. Unless otherwise
approved by the Board, including the consent of a majority of the Preferred Directors, all employees of the Company who purchase,
or receive options to purchase, shares of Common Stock following the date hereof shall be required to execute stock purchase or
option agreements providing for: (a) vesting of shares over a four (4) year period with the first twenty five percent (25%) of
such shares vesting following twelve (12) months of continued employment or services, and the remaining shares vesting in equal
monthly installments over the following thirty six (36) months thereafter; and (b) a vesting commencement date no earlier than
such employee’s first date of employment with the Company. Without the prior approval by the Board, including a majority
of the Preferred Directors, the Company shall not amend, modify, terminate, waive or otherwise alter, in whole or in part, any
stock purchase, stock restriction or option agreement with any existing employee or service provider if such amendment would cause
it to be inconsistent with this Section 5.2.

 

5.3              Board
Approvals. So long as the holders of Series B Preferred Stock are entitled to elect
two (2) Series B Directors, as defined in the Restated Certificate, the Company will not, without Board approval, which approval
must include the affirmative vote of a majority of the Preferred Directors:

 

   (a)              
make any loan or advance to, or own any stock or other securities of, any subsidiary
or other corporation, partnership, or other entity unless it is wholly owned by the Company;

 

   (b)              
make any loan or advance to any person, including, any employee or director, except advances
and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan approved by
the Board;

 

   (c)              
guarantee any indebtedness except for trade accounts of the Company or any subsidiary
of the Company arising in the ordinary course of business;

 

   (d)              
make any investment inconsistent with any investment policy approved by the Board;

 

   (e)              
incur any aggregate indebtedness in excess of $500,000 that is not already included in a Board-approved budget, other
than trade credit incurred in the ordinary course of business;

 

   (f)               
enter into or be a party to any transaction with any director, officer or employee of the Company or any “associate”
(as defined in Rule 12b-2 promulgated under the Exchange Act) of any such person except transactions made in the ordinary course
of business and pursuant to reasonable requirements of the Company’s business and upon fair and reasonable terms that are
approved by a majority of the Board;

 

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   (g)              
hire, fire, or change the compensation of the Chief Executive Officer, President, Chief
Scientific Officer or Chief Financial Officer, including approving or modifying any option grants to such persons;

 

   (h)             
 change the principal business of the Company, enter new lines of business, or exit
the current line of business; provided that a change in lead candidate(s) or back-up candidate(s) in connection with diseases
involving skeletal muscle shall not be deemed to be a change or the entering or exiting of a business requiring the approval described
in this section; or

 

   (i)                sell,
assign, exclusively license or pledge material technology or material intellectual property, other than licenses granted in the
ordinary course of business.

 

Nothing
set forth above shall be deemed to restrict other matters on which
the Board may vote.

 

5.4              Successor
Indemnification. If the Company or any of its successors or assignees consolidates
with or merges into any other person or entity and is not the continuing or surviving corporation or entity of such consolidation
or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of the Company assume
the obligations of the Company with respect to indemnification of members of the Board as in effect immediately before such transaction,
whether such obligations are contained in the Company’s bylaws, the Company’s certificate of incorporation, or elsewhere,
as the case may be.

 

5.5              Restrictions
on Publicity. The Company shall not use the name of Novo
or its Affiliates, or refer to Novo or its Affiliates, directly or indirectly, in connection with Novo’s or its Affiliates’
relationship, agreements or arrangements with the Company in any advertisement, press release, professional or trade publication,
marketing materials or otherwise to the general public or in any other manner, except (i) as may be required by law, (ii) on a
confidential basis to potential financing sources, including lenders, investors, investment bankers or acquirors but only as to
the fact of Novo’s equity investment in the Company and documentation relating thereto, (iii) on a confidential basis to
the Company’s lawyers, contractors, accountants and other advisors who have a need to have access and knowledge of such
information, or (iv) with Novo’s prior written consent, which consent may be withheld in its sole discretion; provided that
(i) the parties anticipate that there will be a mutually-agreed press release announcing the closing of the transactions contemplated
in the Series C Purchase Agreement and (ii) following the public announcement contemplated in clause (i), the Company may confirm
that Novo is an investor in the Company, including, but not limited to, on Company websites, (but not the amount or terms thereof)
in a form of disclosure that has been previously approved by Novo.

 

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5.6             
Expenses of Counsel. In the event
of a transaction which is a Sale of the Company (as defined in the Voting Agreement), Company shall pay the reasonable fees and
disbursements, not to exceed $30,000 in the aggregate, of one counsel for the Major Investors (selected by the Requisite Holders)
(“Investor Counsel”) and will provide such Investor Counsel with drafts of definitive agreements and
other information reasonably requested by such counsel at least ten (10) days prior to the Company entering into a transaction
which, if consummated, would constitute a Sale of the Company. Investor Counsel shall have a reasonable opportunity to comment
on any of the definitive agreements.

 

5.7              Qualified
Small Business Stock. The Company shall use commercially reasonable efforts to cause
the shares of Series B Preferred Stock issued pursuant to that certain Series B-1 and Series B 2 Preferred Purchase Agreement
entered into by the Company and Investors holding shares of Series B-1 Preferred Stock and Series B-2 Preferred Stock (the “Series
B Investors”) dated as of August 27, 2019, as well as any shares into which such shares are converted, within the
meaning of Section 1202(f) of the Internal Revenue Code (the “Code”), to constitute “qualified
small business stock” as defined in Section 1202(c) of the Code; provided, however, that such requirement shall not be applicable
if the Board of Directors of the Company determines, in its good-faith business judgment, that such qualification is inconsistent
with the best interests of the Company. The Company shall submit to its stockholders (including the Series B Investors) and to
the Internal Revenue Service any reports that may be required under Section 1202(d)(1)(C) of the Code and the regulations promulgated
thereunder. In addition, within twenty (20) business days after any Investor’s reasonable written request therefor, the
Company shall, at its option, either (i) deliver to such Investor a written statement indicating whether (and what portion of)
such Investor’s interest in the Company constitutes “qualified small business stock” as defined in Section 1202(c)
of the Code or (ii) deliver to such Investor such factual information in the Company’s possession as is reasonably necessary
to enable such Investor to determine whether (and what portion of) such Investor’s interest in the Company constitutes “qualified
small business stock” as defined in Section 1202(c) of the Code. Nothing in this Section 5.7 or in any written statement
that is delivered pursuant to this Section 5.7 constitutes a representation, warranty or covenant that the Company has
been, is or will be engaged in a “qualified trade or business” within the meaning of Code Section 1202(e)(3) or has
met, meets or will meet the active business requirement of Code Section 1202(e)(1)(A), and although the representation and warranty
in this Section 5.7 are undertaken in good faith, the Company shall not be liable for damages as the result of any failure
of any of its stock to qualify as “qualified small business stock.”

 

5.8             
Termination of Covenants. The covenants
set forth in Sections 5.1, 5.2, 5.3, and 5.6 above shall terminate and be of no further force or effect
upon the consummation of the earlier to occur of (a) an Initial Public Offering, and (b) a Liquidation Event, except that
this Agreement shall not terminate upon the consummation of all or substantially all of the assets of the Company; provided, however,
that this Agreement may be terminated after such sale of all or substantially all of the assets of the Company upon the written
consent of the Requisite Holders; provided further that the provisions of Section 5.6 hereof will continue after the closing
of any Sale of the Company (as defined in the Voting Agreement)to the extent necessary to enforce the provisions thereof with
respect to such Sale of the Company.

 

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6.             CFIUS.

 

6.1              Critical
Technologies Notification. To the extent that, to the knowledge of the Company, (i)
any pre-existing products or services provided by the Company are re-categorized by the U.S. government as a critical technology
within the meaning of Section 721 of the Defense Production Act of 1950, as amended, including all implementing regulations thereof
(the “DPA”), or would reasonably be considered to constitute the design, fabrication, development, testing,
production or manufacture of a critical technology after a re-categorization of selected technologies by the U.S. government,
or (ii) after execution of the Series C Purchase Agreement, the Company begins engaging in any activity that could reasonably
be considered to constitute the design, fabrication, development, testing, production or manufacture of a critical technology
within the meaning of the DPA or begins to maintain or collect, directly or indirectly, “sensitive personal data”
of U.S. citizens within the meaning of the DPA, the Company shall reasonably promptly notify the Investors of such change in the
categorization of its products or services or with respect to sensitive personal data.

 

6.2              CFIUS
Filings. If and only if (i) the Committee on Foreign Investment in the United States
or any member agency thereof acting in its capacity as a member agency (“CFIUS”) requests or requires
that the Company or an Investor file a notice or declaration with CFIUS pursuant to the DPA, with respect to an Investor’s
investment in the Company (the “Covered Transaction”), (ii) the Company or an Investor, after consultation
with their respective counsel, determine in good faith that a filing with CFIUS with respect to the Covered Transaction is required
by applicable law, or (iii) an Investor and the Company, each after consultation with their respective counsel, mutually agree,
with such agreement not to be unreasonably withheld or delayed, that a notice or declaration is appropriate with respect to the
Covered Transaction, the Company and such Investor (each, a “Covered Investor”) shall use their commercially
reasonable efforts to obtain the CFIUS Satisfied Condition (as defined below), or to cause such investment to not be a Covered
Transaction.

 

6.3              CFIUS
Satisfied Condition. As used herein, a “CFIUS Satisfied Condition”
means: (i) the Company and the Covered Investor have received written notice from CFIUS stating that (a) CFIUS has concluded that
the Covered Transaction is not a “covered transaction” subject to review under the CFIUS Laws or (b) CFIUS has completed
an assessment, review or investigation of the Covered Transaction, and there are no unresolved national security concerns with
respect to the Covered Transaction; (ii) CFIUS has sent a report to the President of the United States requesting the President’s
decision with respect to the Covered Transaction, and the President has announced a decision not to take any action to suspend,
prohibit or place any limitations on the Covered Transaction; (iii) CFIUS has sent a report to the President of the United States
requesting the President’s decision, and the President has not taken any action to suspend, prohibit or place any limitations
on the Covered Transaction after fifteen (15) days from the date the President received such report from CFIUS; or (iv) CFIUS
has provided written notice that it is not able to complete action under the CFIUS Laws with respect to the Covered Transaction,
but CFIUS has not requested that the Company and the Covered Investor submit a CFIUS notice and has not initiated a unilateral
CFIUS review, and the Covered Investor and the Company, in their respective reasonable judgements, agree that the notice from
CFIUS that it is not able to complete action is sufficient to constitute a CFIUS Satisfied Condition.

 

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7.             Miscellaneous.

 

7.1             
Successors and Assigns. The terms
and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the
parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or
their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.

 

7.2             
Governing Law. This Agreement will
be construed and enforced in accordance with the substantive laws of the State of Delaware without reference to principles of
conflicts of law. EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT SITTING
IN DELAWARE, IN ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT and to the
respective court to which an appeal of the decisions of any such court may be taken, AND EACH PARTY AGREES NOT TO COMMENCE,
OR COOPERATE IN OR ENCOURAGE THE COMMENCEMENT OF, ANY SUCH PROCEEDING, EXCEPT IN PROCEEDING WILL BE CONCLUSIVE AND MAY BE ENFORCED
IN ANY JURISDICTION BY SUIT IN SUCH A COURT. EACH PARTY HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY DO SO, THE DEFENSE
OF AN INCONVENIENT FORUM TO THE MAINTENANCE THEREIN OF SUCH A PROCEEDING.

 

7.3              Counterparts.
This Agreement may be executed in any number of counterparts and signatures may be delivered via
electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g.,
www.docusign.com) or other transmission method, each of which may be
executed by less than all parties, each of which shall be enforceable against the parties actually executing such counterparts,
and all of which together shall constitute one instrument.

 

7.4              Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience
only and are not to be considered in construing or interpreting this Agreement.

 

7.5             
Notices.

 

   (a)              
General. All notices required or permitted hereunder shall be in writing and shall be deemed effectively
given upon the earliest of: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed e-mail or confirmed
facsimile if sent during normal business hours of the recipient, if not, then on the next Business Day, or (c) one (1) Business
Day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written identification of
receipt; provided that if the sender’s and the recipient’s addresses are not in the same country, two (2) Business
Days after deposit with an internationally recognized overnight courier, specifying next day delivery, with written identification
of receipt. As used herein “Business Day” shall mean a weekday on which banks are open for general banking
business in the United States and Denmark. All communications shall be sent, if to the Company, at the address set forth on the
signature page hereto, and if to an Investor, at its address as set forth on Exhibit A hereto, or at such other address
or contact information as such party may designate by ten (10) calendar days’ advance written notice to the other parties
hereto.

 

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   (b)             
 Consent to Electronic Notice.
Each Investor consents to the delivery of any stockholder notice pursuant to the Delaware General Corporation Law (the “DGCL”),
as amended or superseded from time to time, by electronic transmission pursuant to Section 232 of the DGCL (or any successor thereto)
at the electronic mail address set forth below such Investor’s name on Exhibit A, as updated from time to time by
notice to the Company, or as on the books of the Company. To the extent that any notice given by means of electronic transmission
is returned or undeliverable for any reason, the foregoing consent shall be deemed to have been revoked until a new or corrected
electronic mail address has been provided, and such attempted electronic notice shall be ineffective and deemed to not have been
given. Each Investor agrees to promptly notify the Company of any change in its electronic mail address, and that failure to do
so shall not affect the foregoing.

 

7.6             
Amendments and Waivers. Except as
expressly provided herein, any term of this Agreement may be amended, terminated or waived only with the written consent of (a)
the Company and (b) the Requisite Holders; provided that no amendment, termination or waiver of any term under this Agreement
shall adversely affect any Investor or group of Investors in a manner that is disproportionate to its holdings of stock relative
to the other Investors of the same class or series unless such amendment, termination or waiver is agreed to in writing by a majority
in interest of the disproportionately affected Investor(s), provided, further that the second sentence of Section 4.5 (and
this clause) may not be amended, terminated or waived without the written consent of each Major Investor; and provided, further
that Section 6, Section 7.9, this clause and the definition of “Affiliate”, in each case, as it pertains
to Novo shall not be amended without the prior written consent of Novo, and (d) no amendment to Section 1(o) shall cause
an Investor that is a Major Investor to lose its status as a Major Investor without such Major Investor’s written consent
unless such amendment is in connection with the issuance of New Securities, such Major Investor was offered a right to purchase
its Pro Rata Amount of such New Securities (or was offered a right to purchase a lesser amount of such New Securities, but proportionate
to the amounts offered to other Major Investors) and fails to purchase the full amount of such New Securities offered to it, without
such Major Investor’s consent. For the avoidance of doubt, the addition to this Agreement of any new holder of shares of
capital stock of the Company (“Capital Stock”) pursuant to the Company’s issuance of such other
Capital Stock regardless of whether such Capital Stock has rights, preferences or privileges that are junior, pari passu
or senior to the Capital Stock then held by then current Investors as long as such other or additional shares of Capital Stock
have been authorized and issued in accordance with the Company’s then current Restated Certificate and applicable law, and
as long as the addition of such new holder of Capital Stock of the Company (or inclusion of such new shares of Capital Stock)
has been approved as may be required pursuant to Section 2.13 above, shall not, in and of itself, be deemed to constitute
an amendment or waiver that adversely affects one Investor in a manner that is disproportionate to any other Investor. Any amendment
or waiver effected in accordance with this Section 7.6 shall be binding upon the Holders and each transferee of the Shares
(or the Common Stock issuable upon conversion thereof), each future holder of all such securities, and the Company. Each Holder
acknowledges that by the operation of this Section (and pursuant to the terms of this Section), the Requisite Holders will have
the right and power to diminish or eliminate all rights of such Holder under this Agreement. The Company shall give prompt notice
of any amendment, modification or termination hereof or waiver hereunder to any party hereto that did not consent in writing to
such amendment, modification, termination, or waiver.

 

     31

     

    

 

7.7              Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision
shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision
or the remaining provisions of this Agreement.

 

7.8             
Delays or Omissions. No delay or omission
to exercise any right, power or remedy accruing to any party upon any breach or default of any other party under this Agreement
shall impair any such right, power or remedy of such party, nor shall it be construed to be a waiver of any such breach or default
or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single
breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent
or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on
the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the
extent specifically set forth in such writing or as provided in this Agreement. All remedies, either under this Agreement or by
law or otherwise afforded to any party, shall be cumulative and not alternative.

 

7.9              Limitation
of Liability; Freedom to Operate Affiliates. The total liability, in the aggregate,
of each of the Investors and its respective Affiliates, officers, directors, employees and agents, for any and all claims, losses,
costs or damages, including attorneys’ and accountants’ fees and expenses and costs of any nature whatsoever or claims
or expenses resulting from or in any way related to this Agreement from any cause or causes shall be several and not joint with
the other Investors and shall not exceed the total purchase price paid to the Company by such Investor for the Shares under the
applicable purchase agreement and the total purchase price of any other equity of the Company purchased by such Investor. It is
intended that this limitation apply to any and all liability or cause of action however alleged or arising, unless otherwise prohibited
by law. None of the foregoing limitations of liability shall be applicable to any act of fraud, intentional or willful malfeasance,
criminal acts or breach of any confidentiality obligations hereunder, nor shall limit the right of any party hereto to seek and
be awarded any form of equitable relief. Nothing in this Agreement or the Ancillary Agreements (as defined in the Purchase Agreement)
shall restrict any Investor’s freedom to operate any of its affiliates (including any such affiliate that is a potential
competitor of the Company). Nothing in this Section 7.9 shall relieve any Investor of its confidentiality obligations pursuant
to Section 3.2 or 3.3 above. Nothing set forth herein shall be deemed to be a grant of a license by the Company
of any of its proprietary rights.

 

7.10         
  Entire Agreement. This Agreement (including the exhibits hereto)
constitutes the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any
other written or oral agreement relating to the subject matter hereof existing between the parties are expressly canceled.

 

     32

     

    

 

7.11         
   Further Assurances.  At
any time or from time to time after the date hereof, the parties hereto agree to cooperate with each other, and at the request
of any such party hereto, to execute and deliver any further instruments or documents and to take all such further action as the
other party may reasonably request in order to evidence or effectuate the consummation of the transactions contemplated hereby
and to otherwise carry out the intent of the parties hereunder.

 

7.12           
Aggregation of Stock. All shares
of Company equity held or acquired by a Holder and/or its Affiliates shall be aggregated together for the purpose of determining
the availability of any rights and any obligations under this Agreement, and such affiliated persons may apportion such rights
and obligations as among themselves in any manner they deem appropriate.

 

7.13          
Waiver OF
JURY TRIAL. EACH PARTY HERETO AND ANY OTHER PERSON CLAIMING
ANY RIGHTS HEREUNDER, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER
BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF ANY PARTY HERETO IN THE NEGOTIATION,
ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF.

 

7.14         
 Amendment and Restatement of Prior Agreement. The Prior Agreement
is hereby amended in its entirety and restated herein. Such amendment and restatement is effective upon the execution of this
Agreement by the Company and the requisite Investors as set forth in the Prior Agreement. Upon such execution, all provisions
of, rights granted and covenants made in the Prior Agreement are hereby waived, released and superseded in their entirety and
shall have no further force or effect.

 

[THIS SPACE
LEFT BLANK INTENTIONALLY]

 

     33

     

    

 

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	COMPANY:
	 	 
	 	 
	 	EDGEWISE
    THERAPEUTICS, INC.
	 	 
	 	 
	 	By: 	/s/ Kevin Koch
	 	 	Kevin Koch, Ph.D.
	 	 	President and Chief Executive Officer

 

	 	Address:	3415 Colorado Ave
	 	 	Boulder, CO 80303
	 	Attn: 	President and Chief Executive Officer
	 	E-mail: 	kkoch@edgewisetx.com

 

Signature Page to Edgewise Therapeutics, Inc.

Amended and Restated Investors’ Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	 
	 	OrbiMed Private Investments VI, LP
	 	 
	 	By: 	OrbiMed Capital GP VI LLC,
	 	 	its General Partner
	 	 
	 	By: 	OrbiMed Advisors LLC,
	 	 	its Managing Member

 

	 	 	By: 	/s/ Carl Gordon
	 	 	Name: 	Carl Gordon
	 	 	Title: 	Member

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	 
	 	NOVO HOLDINGS A/S
	 	 
	 	 
	 	By: 	/s/ Thomas Dyrberg

 

	 	Name: 	Thomas Dyrberg,
	 	 	under specific power of attorney
	 	Title: 	Managing Partner

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 	 	INVESTORS:
	 	 
	 	 
	 	U.S. Venture Partners XI, L.P.
	 	By: 	Presidio Management Group XI, L.L.C.
	 	Its: 	General Partner
	 	 	 

 

	 	By: 	/s/ Dale Holladay
	 	 	Dale Holladay, Attorney-In-Fact

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	 
	 	DEERFIELD PRIVATE DESIGN FUND IV, L.P.
	 	By:   	Deerfield Mgmt IV, L.P.
	 	 	General Partner
	 	 	By:    J.E. Flynn Capital IV, LLC
	 	 	          General Partner
	 	 	 

	 	By: 	 /s/
    David J. Clark

	 	Name: 	David J. Clark
	 	Title:   	Authorized Signatory

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	 
	 	NEW LEAF BIOPHARMA OPPORTUNITIES II, L.P.
	 	 
	 	By: New Leaf BPO Associates II, L.P.
	 	Its: General Partner
	 	 
	 	By: New Leaf BPO Management II, L.L.C.
	 	Its: General Partner

 

	 	By:	/s/ Craig L. Slutzkin
	 	 	Craig L. Slutzkin
	 	 	Chief Financial Officer

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	 
	 	CUREDUCHENNE VENTURES, LLC
	 	 
	 	 
	 	 
	 	By:	/s/ Debra Miller
	 	 	Debra Miller
	 	 	Chief Executive Officer

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	 
	 	
        VIKING GLOBAL OPPORTUNITIES ILLIQUID INVESTMENTS
SUB-MASTER LP

	 	 
	 	
        By: Viking Global Opportunities Portfolio GP LLC, its
general partner

	 	 
	 	 
	 	By:	 /s/ Matthew Bloom
	 	 	 
	 	Name:  	Matthew Bloom
	 	 
	 	Title: 	Authorized Signatory

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	JANUS HENDERSON GLOBAL LIFE SCIENCES FUND
	 	 
	 	By: Janus Capital Management LLC, its investment advisor
	 	 	 
	 	 	 
	 	By:	/s/ Andrew Acker
	 	Name:	Andrew Acker
	 	Title:	Authorized Signatory

 

	 	JANUS HENDERSON CAPITAL FUNDS plc on behalf of its series JANUS HENDERSON GLOBAL LIFE SCIENCES FUND 
	 	 
	 	By: Janus Capital Management LLC, its investment advisor
	 	 	 
	 	By:	/s/ Andrew Acker
	 	Name:	Andrew Acker
	 	Title:	Authorized Signatory
	 	 	 

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	JANUS HENDERSON HORIZON FUND-BIOTECHNOLOGY FUND 
	 	 
	 	By: Janus Capital Management LLC, its investment advisor
	 	 	 
	 	 	 
	 	By:	/s/ Andrew Acker
	 	Name:	Andrew Acker
	 	Title:	Authorized Signatory

 

	 	JANUS HENDERSON BIOTECH INNOVATION MASTER FUND LIMITED 
	 	 
	 	By: Janus Capital Management LLC, its investment advisor
	 	 	 
	 	By:	/s/ Andrew Acker
	 	Name:	Andrew Acker
	 	Title:	Authorized Signatory
	 	 	 

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	 
	 	RA
    Capital Healthcare Fund, L.P.
	 	 
	 	By: 	RA Capital Healthcare Fund
    GP, LLC
	 	 	Its General Partner
	 	 	 
	 	By: 	/s/ Rajeev Shah
	 	Name: 	Rajeev Shah
	 	Title: 	Manager
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	RA
    Capital NEXUS Fund II, L.P.
	 	 
	 	By:	RA Capital Nexus Fund II GP, LLC
	 	Its:	General Partner
	 	 	 
	 	 	 
	 	By: 	/s/ Rajeev Shah
	 	Name:	Rajeev Shah
	 	Title:	Manager

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	 
	 	BLACKWELL PARTNERS LLC – SERIES A
	 	 
	 	 
	 	By: 	/s/ Abayomi A. Adigun
	 	Name: 	Abayomi A. Adigun
	 	Title: 	Investment Manager
	 	 	DUMAC, Inc., Authorized Signatory
	 	 	 
	 	 	 
	 	By: 	/s/ Jannine M. Lall
	 	Name: 	Jannine M. Lall
	 	Title: 	Head of Finance & Controller
	 	 	DUMAC, Inc., Authorized Signatory

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	INVESTORS:	 
	 	 
	 	 
	Cormorant Private Healthcare FUND III, LP	 
	By: Cormorant Private GP III, LLC	 
	By: Bihua Chen, Managing Member	 
	 	 
	 	 
	By:	/s/ Bihua Chen	 
	 	 
	Name: 	 	 
	 	 
	Title: 	 	 

 

	 	 
	Cormorant
    Global Healthcare 	CRMA
    SPV, L.P.
	Master
    Fund, LP 	By: Cormorant Asset Management,
    LP
	By: Cormorant Global GP, LLC	By: Bihua Chen, Its Attorney-in-fact
	By: Bihua Chen, Managing Member	 
	 	 
	 	 
	By: 	/s/
    Bihua Chen	By: 	/s/
    Bihua Chen
	 	 
	Name:	 	Name:	
	 	 
	Title: 	 	Title: 	 

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	 
	 	CITADEL MULTI-STRATEGY EQUITIES MASTER FUND LTD.
	 	By: Citadel Advisors LLC, its portfolio manager
	 	 
	 	 
	 	By: 	/s/ Christopher L. Ramsay
	 	 	 
	 	Name: 	Christopher L. Ramsay
	 	 	 
	 	Title: 	Authorized Signatory

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	 INVESTORS:
	 	 
	 	 
	 	Logos opportunities FUND Ii, L.P.
	 	By: Logos Opportunities GP, LLC

Its General Partner
	 	 
	 	 
	 	By: 	/s/ Graham
    Walmsley
	 	Name: 	Graham Walmsley
	 	Title: 	Manager
	 	 	 

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 

	 	INVESTORS:
	 	 
	 	ORBIMED GENESIS MASTER FUND, L.P.
	 	 
	 	By: 	OrbiMed Genesis GP LLC,
	 	its General Partner
	 	 	 
	 	By: 	OrbiMed Advisors LLC,
	 	its Managing Member
	 	 	 
	 	 	 
	 	 	 
	 	By: 	/s/ C. Scotland Stevens
	 	 	Name: C. Scotland Stevens
	 	 	Title: Member
	 	 	 

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and Restated Investors’ Rights Agreement as of the Effective
Date.

 	 	INVESTORS:
	 	 
	 	 
	 	Wellington Biomedical Innovation Master Investors (Cayman) I L.P.
	 	 
	 	By: Wellington Management Company LLP, as investment adviser
	 	 
	 	/s/ Peter McIsaac
	 	Peter McIsaac
	 	Managing Director and Counsel

 

Signature Page to Edgewise
Therapeutics, Inc.

Amended and Restated Investors’
Rights Agreement (Series C)

 

     

     

    

 

EXHIBIT A

 

SCHEDULE OF INVESTORS

 

OrbiMed Private Investments VI,
LP

 

Novo Holdings A/S

 

U.S. Venture Partners XI, L.P.

 

Deerfield Private Design Fund
IV, L.P.

 

New Leaf Biopharma Opportunities
II. L.P.

 

CureDuchenne Ventures, LLC

 

Viking Global Opportunities Illiquid
Investments Sub-Master LP

 

Wellington Biomedical Innovation
Master Investors (Cayman) I L.P.

 

Janus Henderson Global Life Sciences
Fund

Janus
Henderson Capital Funds PLC on behalf of its Series Janus Henderson Global Life Sciences Fund

Janus Henderson Horizon Fund-Biotechnology
Fund

Janus Henderson Biotech Innovation
Master Fund Limited

 

RA Capital Healthcare Fund, L.P.

RA Capital Nexus Fund, L.P.

 

Blackwell Partners LLC –
Series A

 

Cormorant Private Healthcare Fund
III, LP

Cormorant Global Healthcare Master
Fund LP

CRMA SPV, L.P.

 

Citadel Multi-Strategy Equities
Master Fund Ltd. 

 

Logos Opportunities Fund II, L.P.

 

OrbiMed Genesis Master Fund, L.P.Exhibit 10.1

 

EDGEWISE THERAPEUTICS, INC.

 

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (this “Agreement”) is dated as of [______ __, 20__], and is between Edgewise Therapeutics, 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.

 

The parties therefore
agree as follows:

 

1.              Definitions.

 

(a)            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 (as defined below), directly or indirectly,
of securities of the Company representing fifteen percent (15%) 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 constitute the Company’s board of directors, and any 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(a)(i), 1(a)(iii) or 1(a)(iv)) whose election by the board of directors or nomination for election 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 the period or whose election or nomination for election was previously so approved, cease for any reason to constitute
at least a majority of the members of the Company’s board of directors;

 

    

     

    

 

(iii)           Corporate
Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or
consolidation which 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 at least a majority of the board of directors or other governing body of such
surviving entity;

 

(iv)           Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition
by the Company of all or substantially all of the Company’s assets; and

 

(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 Securities Exchange Act
of 1934, as amended, whether or not the Company is then subject to such reporting requirement.

 

For purposes of this
Section 1(a), the following terms shall have the following meanings:

 

(1)            “Person”
shall have the meaning as set forth in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended;
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.

 

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

 

(b)             “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.

 

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

 

(d)             “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.

 

(e)             “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.

 

(f)              “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, supersedeas bond or other appeal bond or their equivalent,
and (ii) for purposes of Section 12(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.

 

    -2-

     

    

 

(g)             “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 or Indemnitee in any
matter material to either 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.

 

(h)             “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, 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.

 

(i)              Reference
to “other enterprises” shall include employee benefit plans; 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 a 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.

 

    -3-

     

    

 

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 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 actually and reasonably incurred by Indemnitee or on Indemnitee’s
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. To the extent that Indemnitee is a party to or a participant in
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 actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf
in connection therewith. For purposes of this section, 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.              Indemnification
for Expenses of a Witness. To the extent that Indemnitee is, by reason of his or her Corporate Status, a witness in any Proceeding
to which Indemnitee is not a party, Indemnitee shall be indemnified to the extent permitted by applicable law against all
Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

 

6.              Additional
Indemnification.

 

(a)             Notwithstanding
any limitation in Sections 2, 3 or 4, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable
law if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding (including a Proceeding by or
in the right of the Company to procure a judgment in its favor) 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 the Proceeding or any claim, issue or
matter therein.

 

(b)             For
purposes of Section 6(a), the meaning of the phrase “to the fullest extent permitted by applicable law”
shall include, but not be limited to:

 

(i)            the
fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement,
or the corresponding provision of any amendment to or replacement of the DGCL; 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.

 

    -4-

     

    

 

7.              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 Securities Exchange Act of 1934, as amended,
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 Securities Exchange Act of
1934, as amended (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);

 

(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 12(d) or
(iv) otherwise required by applicable law; or

 

(e)             if
prohibited by applicable law.

 

8.              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 90 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. This Section 8 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 7(b) or
7(c) prior to a determination that Indemnitee is not entitled to be indemnified by the Company.

 

9.              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 which 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.

 

    -5-

     

    

 

(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.

 

(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 or Indemnitee 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. The Company shall have the right to conduct such defense as it sees fit in its sole
discretion. 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) without the Company’s
prior written consent, which shall not be unreasonably withheld, conditioned or delayed.

 

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

 

10.            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.

 

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(b)             Upon
written request by Indemnitee for indemnification pursuant to Section 10(a), a determination with respect to Indemnitee’s
entitlement thereto shall be made in the specific case (i) if a Change in Control shall have occurred, by Independent Counsel
in a written opinion to the Company’s board of directors, a copy of which shall be delivered to Indemnitee or (ii) if
a Change in Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even though less than
a quorum of the Company’s board of directors, (B) 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, (C) if there
are no such Disinterested Directors or, if such 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 (D) if so directed by the Company’s
board of directors, by the stockholders of the Company. If it is determined that Indemnitee is entitled to indemnification, payment
to Indemnitee shall be made within ten 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.

 

(c)             In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(b),
the Independent Counsel shall be selected as provided in this Section 10(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 ten 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 of this Agreement, 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 10(a) hereof 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 which 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 10(b) hereof. Upon the due commencement of any judicial proceeding or
arbitration pursuant to Section 12(a) of this Agreement, 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 agrees to pay the reasonable fees and expenses of any Independent Counsel.

 

11.            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.

 

    -7-

     

    

 

(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
create a presumption that Indemnitee did not act in good faith and in a manner which 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.

 

(c)             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.

 

12.            Remedies
of Indemnitee.

 

(a)             Subject
to Section 12(e), in the event that (i) a determination is made pursuant to Section 10 of this Agreement that Indemnitee
is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8
or 12(d) of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to
Section 10 of this Agreement within 90 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 12(d) of this Agreement, 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 180 days following
the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 12(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 of this Agreement. 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 10 of this Agreement that Indemnitee is not entitled to indemnification,
any judicial proceeding or arbitration commenced pursuant to this Section 12 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 12, 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.

 

    -8-

     

    

 

(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 12 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 of this Agreement 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 12,
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 that are incurred by Indemnitee in
connection with any action for indemnification or advancement of Expenses from the Company under this Agreement 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 90 days, after receipt
by the Company of a written request therefor) advance such Expenses to Indemnitee, subject to the provisions of Section 8.

 

(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.

 

13.            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.

 

14.            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-

     

    

 

15.            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 venture capital fund or other entity and/or certain of its affiliates (collectively,
the “Secondary Indemnitors”), Indemnitee has 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 15.
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; provided,
however, that the foregoing sentence will be deemed void if and to the extent that it would violate any applicable insurance
policy. The Secondary Indemnitors are express third-party beneficiaries of the terms of this Section 15.

 

16.            No
Duplication of Payments. 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.

 

17.            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.

 

18.            Subrogation.
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.

 

19.            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.

 

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20.            Duration.
This Agreement shall continue until and terminate upon the later of (a) ten years after the date that Indemnitee shall have
ceased to serve as a director or officer of the Company or as a director, trustee, general partner, managing member, officer, employee,
agent or fiduciary of any other Enterprise, as applicable; or (b) one year after the final termination of any Proceeding,
including any appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses
hereunder and of any proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement relating thereto.

 

21.            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. 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.

 

22.            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.

 

23.            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.

 

24.            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.

 

25.            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.

 

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26.            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 the attention of the Chief Executive Officer or Chief Financial Officer of the Company at 3415 Colorado Avenue,
Boulder, CO 80303, or at such other current address as the Company shall have furnished to Indemnitee, with a copy (which shall
not constitute notice) to Tony Jeffries, Wilson Sonsini Goodrich & Rosati, P.C., 650 Page Mill Road, Palo Alto, CA
94304.

 

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), (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.

 

27.            Applicable
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties 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 12(a) of this Agreement, 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, Incorporating Services, Ltd., 3500
South DuPont Highway, in the City of Dover, County of Kent, Delaware 19901, 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.

 

28.            Counterparts.
This Agreement may be executed in one 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.

 

    -12-

     

    

 

29.            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)

 

    -13-

     

    

 

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

 

 

	 	EDGEWISE THERAPEUTICS, INC.
	 	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	(Print name)
	 	 
	 	 
	 	(Title)
	 	 
	 	 
	 	[INSERT INDEMNITEE NAME]
	 	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	(Print name)
	 	 
	 	 
	 	(Street address)
	 	 
	 	 
	 	(City, State and ZIP)
	 	 
	 	 
	 	(Email address)

 

(Signature page to Indemnification Agreement
of Edgewise Therapeutics, Inc.)

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