Document:

Exhibit 10.4

 

INDEMNIFICATION AGREEMENT

(For Officers of a Delaware Corporation)

 

This Indemnification Agreement (“Agreement”)
is made as of ________________ by and between 908 Devices Inc., a Delaware corporation (the “Company”), and
____________ (“Indemnitee”).

 

RECITALS

 

WHEREAS, the Company desires to attract
and retain the services of highly qualified individuals, such as Indemnitee, to serve the Company;

 

WHEREAS, in order to induce Indemnitee to
[provide or continue to provide] services to the Company, the Company wishes to provide for the indemnification of, and advancement
of expenses to, Indemnitee to the maximum extent permitted by law;

 

WHEREAS, the Fifth Amended and Restated
Certificate of Incorporation (the “Charter”) and the Amended and Restated Bylaws (the “Bylaws”)
of the Company require indemnification of the officers and directors of the Company, and Indemnitee may also be entitled to indemnification
pursuant to the General Corporation Law of the State of Delaware (the “DGCL”);

 

WHEREAS, the Charter, the Bylaws and the
DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts
may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification;

 

WHEREAS, the Board of Directors of the Company
(the “Board”) has determined that the increased difficulty in attracting and retaining highly qualified persons
such as Indemnitee is detrimental to the best interests of the Company’s stockholders;

 

WHEREAS, it is reasonable and prudent for
the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent
permitted by applicable law, regardless of any amendment or revocation of the Charter or the Bylaws, so that they will [serve or
continue to serve] the Company free from undue concern that they will not be so indemnified;

 

WHEREAS, this Agreement is a supplement
to and in furtherance of the indemnification provided in the Charter, the Bylaws and any resolutions adopted pursuant thereto,
and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

  

    	 	 	 

     

    

 

NOW, THEREFORE, in consideration of the
premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

Section 1.             Services
to the Company. Indemnitee agrees to serve as an officer of the Company. Indemnitee may at any time and for any reason resign
from such position (subject to any other contractual obligation or any obligation imposed by 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.

 

Section 2.             Definitions.

 

As used in this Agreement:

 

(a)            “Affiliate”
and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended, as in effect on the date of this Agreement; provided, however,
that no Person who is a director or officer of the Company shall be deemed an Affiliate or an Associate of any other director or
officer of the Company solely as a result of his or her position as director or officer of the Company.

 

(b)            A
Person shall be deemed the “Beneficial Owner” of, and shall be deemed to “Beneficially Own” and have “Beneficial
Ownership” of, any securities:

 

(i)            which
such Person or any of such Person’s Affiliates or Associates, directly or indirectly, Beneficially Owns (as determined pursuant
to Rule 13d-3 of the Rules under the Exchange Act, as in effect on the date of this Agreement);

 

(ii)           which
such Person or any of such Person’s Affiliates or Associates, directly or indirectly, has: (A) the legal, equitable
or contractual right or obligation to acquire (whether directly or indirectly and whether exercisable immediately or only after
the passage of time, compliance with regulatory requirements, satisfaction of one or more conditions (whether or not within the
control of such Person) or otherwise) upon the exercise of any conversion rights, exchange rights, rights, warrants or options,
or otherwise; (B) the right to vote pursuant to any agreement, arrangement or understanding (whether or not in writing); or
(C) the right to dispose of pursuant to any agreement, arrangement or understanding (whether or not in writing) (other than
customary arrangements with and between underwriters and selling group members with respect to a bona fide public offering
of securities);

 

(iii)          which
are Beneficially Owned, directly or indirectly, by any other Person (or any Affiliate or Associate thereof) with which such Person
or any of such Person’s Affiliates or Associates has any agreement, arrangement or understanding (whether or not in writing)
(other than customary agreements with and between underwriters and selling group members with respect to a bona fide public
offering of securities) for the purpose of acquiring, holding, voting or disposing of any securities of the Company; or

 

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(iv)           that
are the subject of a derivative transaction entered into by such Person or any of such Person’s Affiliates or Associates,
including, for these purposes, any derivative security acquired by such Person or any of such Person’s Affiliates or Associates
that gives such Person or any of such Person’s Affiliates or Associates the economic equivalent of ownership of an amount
of securities due to the fact that the value of the derivative security is explicitly determined by reference to the price or value
of such securities, or that provides such Person or any of such Person’s Affiliates or Associates an opportunity, directly
or indirectly, to profit or to share in any profit derived from any change in the value of such securities, in any case without
regard to whether (A) such derivative security conveys any voting rights in such securities to such Person or any of such
Person’s Affiliates or Associates; (B) the derivative security is required to be, or capable of being, settled through
delivery of such securities; or (C) such Person or any of such Person’s Affiliates or Associates may have entered into
other transactions that hedge the economic effect of such derivative security;

 

Notwithstanding the foregoing, no Person
engaged in business as an underwriter of securities shall be deemed the Beneficial Owner of any securities acquired through such
Person’s participation as an underwriter in good faith in a firm commitment underwriting.

 

(c)            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 is or becomes the Beneficial Owner (as defined above), directly or indirectly, of securities
of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s then outstanding securities
unless the change in relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction
in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors, provided that
a Change of Control shall be deemed to have occurred if subsequent to such reduction such Person becomes the Beneficial Owner,
directly or indirectly, of any additional securities of the Company conferring upon such Person any additional voting power;

 

(ii) Change
in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution
of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director
designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 2(c)(i),
2(c)(iii) or 2(c)(iv) whose election by the Board 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 Board;

 

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(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 or successor
entity) more than 50% of the combined voting power of the voting securities of the surviving or successor 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 or successor entity;

  

(iv) Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale, lease, exchange
or other transfer by the Company, in one or a series of related transactions, of all or substantially all of the Company’s
assets; and

 

(v) Other Events.
There occurs 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 a 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.

 

(d)          “Corporate
Status” describes the status of a person as a current or former officer of the Company or current or former director,
manager, partner, officer, employee, agent or trustee of any other Enterprise which such person is or was serving at the request
of the Company.

 

(e)           “Enforcement
Expenses” shall include all reasonable attorneys’ fees, court costs, transcript costs, fees of experts,
travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all
other out-of-pocket disbursements or expenses of the types customarily incurred in connection with an action to enforce
indemnification or advancement rights, or an appeal from such action, including the premium, security for, and other costs relating
to any bond, supersedeas bond, or other appeal bond or its equivalent. Expenses, however, shall not include fees, salaries,
wages or benefits owed to Indemnitee.

 

(f)           “Enterprise”
shall mean any corporation (other than the Company), partnership, joint venture, trust, employee benefit plan, limited liability
company, or other legal entity of which Indemnitee is or was serving at the request of the Company as a director, manager, partner,
officer, employee, agent or trustee.

 

(g)           “Expenses”
shall include all reasonable attorneys’ fees, court costs, transcript costs, fees of experts, travel expenses, duplicating
costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other out-of-pocket 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 or an appeal resulting from a Proceeding, including the premium, security for, and other costs relating
to any bond, supersedeas bond, or other appeal bond or its equivalent. Expenses,
however, shall not include amounts paid in settlement by Indemnitee, the amount of judgments or fines against Indemnitee or fees,
salaries, wages or benefits owed to Indemnitee.

 

(h)          “Independent
Counsel” means a law firm, or a partner (or, if applicable, member or shareholder) of such a law firm, that is experienced
in matters of Delaware corporation law and neither presently is, nor in the past five (5) years has been, retained to represent:
(i) the Company, any subsidiary of the Company, any Enterprise or Indemnitee in any matter material to any such party; 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. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to
above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out of or relating
to this Agreement or its engagement pursuant hereto.

 

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(k)          “Person”
shall mean (i) an individual, a corporation, a partnership, a limited liability company, an association, a joint stock company,
a trust, a business trust, a government or political subdivision, any unincorporated organization, or any other association or
entity including any successor (by merger or otherwise) thereof or thereto, and (ii) a “group” as that term is
used for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended.

 

(j)           The
term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, alternate dispute
resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether
brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, regulatory or investigative
nature, and whether formal or informal, in which Indemnitee was, is or will be involved as a party or otherwise by reason of the
fact that Indemnitee is or was an officer of the Company or is or was serving at the request of the Company as a director, manager,
partner, officer, employee, agent or trustee of any Enterprise or by reason of any action taken by Indemnitee or of any action
taken on his or her part while acting as an officer of the Company or while serving at the request of the Company as a director,
manager, partner, officer, employee, agent or trustee of any Enterprise, in each case whether or not serving in such capacity at
the time any liability or expense is incurred for which indemnification, reimbursement or advancement of expenses can be provided
under this Agreement; provided, however, that the term “Proceeding” shall not include any action, suit
or arbitration, or part thereof, initiated by Indemnitee to enforce Indemnitee’s rights under this Agreement as provided
for in Section 12(a) of this Agreement.

 

Section 3.              Indemnity
in Third-Party Proceedings. The Company shall indemnify Indemnitee to the extent set forth in this Section 3 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 3, Indemnitee shall be indemnified against all Expenses,
judgments, fines, penalties, excise taxes, 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, in the case of a criminal
proceeding, had no reasonable cause to believe that his or her conduct was unlawful.

 

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Section 4.              Indemnity
in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee to the extent set forth in this Section 4
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 4, Indemnitee shall be indemnified against all Expenses
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. No indemnification for Expenses shall be made under this Section 4 in respect of any claim,
issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only
to the extent that the Delaware Court of Chancery (the “Delaware Court”) 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 shall deem proper.

  

Section 5.              Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provisions of this Agreement and except
as provided in Section 7, to the extent that Indemnitee is a party to or a participant in any Proceeding and is successful
in such Proceeding or in defense of any claim, issue or matter therein, the Company shall indemnify Indemnitee against all Expenses
actually and reasonably incurred by him or her in connection therewith. If Indemnitee is not wholly successful in such Proceeding
but is successful as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify
Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on his or her behalf in connection with each
successfully resolved claim, issue or matter. For purposes of this Section and without limitation, 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.

 

Section 6.              Reimbursement
for Expenses of a Witness or in Response to a Subpoena. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee, by reason of his or her Corporate Status, (i) is a witness in any Proceeding to which Indemnitee is not a
party and is not threatened to be made a party or (ii) receives a subpoena with respect to any Proceeding to which Indemnitee
is not a party and is not threatened to be made a party, the Company shall reimburse Indemnitee for all Expenses actually and reasonably
incurred by him or her or on his or her behalf in connection therewith.

 

Section 7.              Exclusions.
Notwithstanding any provision in this Agreement to the contrary, the Company shall not be obligated under this Agreement:

 

(a)           to
indemnify for amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if and to the extent that
Indemnitee has otherwise actually received such amounts under any insurance policy, contract, agreement or otherwise; provided
that the foregoing shall not apply to any personal or umbrella liability insurance maintained by Indemnitee;

 

(b)           to
indemnify for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the
Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions
of state statutory law or common law, or from the purchase or sale by Indemnitee of such securities in violation of Section 306
of the Sarbanes-Oxley Act of 2002 (“SOX”);

 

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(c)           to
indemnify for any reimbursement of, or payment to, 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 pursuant to Section 304 of
SOX or any formal policy of the Company adopted by the Board (or a committee thereof), or any other remuneration paid to Indemnitee
if it shall be determined by a final judgment or other final adjudication that such remuneration was in violation of law;

 

(d)           to
indemnify with respect to any Proceeding, or part thereof, brought by Indemnitee against the Company, any legal entity which it
controls, any director or officer thereof or any third party, unless (i) the Board has consented to the initiation of such
Proceeding or part thereof and (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers
vested in the Company under applicable law; provided, however, that this Section 7(d) shall not apply to
(A) counterclaims or affirmative defenses asserted by Indemnitee in an action brought against Indemnitee or (B) any action
brought by Indemnitee for indemnification or advancement from the Company under this Agreement or under any directors’ and
officers’ liability insurance policies maintained by the Company in the suit for which indemnification or advancement is
being sought as described in Section 12; or

 

(e)           to
provide any indemnification or advancement of expenses that is prohibited by applicable law (as such law exists at the time payment
would otherwise be required pursuant to this Agreement).

 

Section 8.              Advancement
of Expenses. Subject to Section 9(b), the Company shall advance the Expenses incurred by Indemnitee in connection with
any Proceeding, and such advancement shall be made within thirty (30) after the receipt by the Company of a statement or statements
requesting such advances (including any invoices received by Indemnitee, which such invoices may be redacted as necessary to avoid
the waiver of any privilege accorded by applicable law) from time to time, whether prior to or after final disposition of any Proceeding.
Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s (i) ability to
repay the expenses, (ii) ultimate entitlement to indemnification under the other provisions of this Agreement, and (iii) entitlement
to and availability of insurance coverage, including advancement, payment or reimbursement of defense costs, expenses or covered
loss under the provisions of any applicable insurance policy (including, without limitation, whether such advancement, payment
or reimbursement is withheld, conditioned or delayed by the insurer(s)). Indemnitee shall qualify for advances upon the execution
and delivery to the Company of this Agreement which shall constitute an undertaking providing that Indemnitee undertakes to the
fullest extent required by law to repay the advance if and to the extent that it is ultimately determined by a court of competent
jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. No other
form of undertaking shall be required. The right to advances under this paragraph shall in all events continue until final disposition
of any Proceeding, including any appeal therein. Nothing in this Section 8 shall limit Indemnitee’s right to advancement
pursuant to Section 12(e) of this Agreement.

 

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Section 9.              Procedure
for Notification and Defense of Claim.

 

(a)          To
obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request therefor specifying
the basis for the claim, the amounts for which Indemnitee is seeking payment under this Agreement, and all documentation related
thereto as reasonably requested by the Company.

 

(b)          In
the event that the Company shall be obligated hereunder to provide indemnification for or make any advancement of Expenses with
respect to any Proceeding, the Company shall be entitled to assume the defense of such Proceeding, or any claim, issue or matter
therein, with counsel approved by Indemnitee (which approval shall not be unreasonably withheld or delayed) upon the delivery to
Indemnitee of written notice of the Company’s 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 under this Agreement
for any fees or expenses of separate counsel subsequently employed by or on behalf of Indemnitee with respect to the same Proceeding;
provided that (i) Indemnitee shall have the right to employ separate counsel in any such Proceeding at Indemnitee’s
expense and (ii) if (A) the employment of separate counsel by Indemnitee has been previously authorized by the Company,
(B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee
in the conduct of such defense, (C) the Company shall not continue to retain such counsel to defend such Proceeding, or (D) a
Change in Control shall have occurred, then the fees and expenses actually and reasonably incurred by Indemnitee with respect to
his or her separate counsel shall be Expenses hereunder.

 

(c)           In
the event that the Company does not assume the defense in a Proceeding pursuant to paragraph (b) above, then the Company will
be entitled to participate in the Proceeding at its own expense.

 

(d)           The
Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding effected
without its prior written consent (which consent shall not be unreasonably withheld or delayed). Without limiting the generality
of the foregoing, the fact that an insurer under an applicable insurance policy delays or is unwilling to consent to such settlement
or is or may be in breach of its obligations under such policy, or the fact that directors’ and officers’ liability
insurance is otherwise unavailable or not maintained by the Company, may not be taken into account by the Company in determining
whether to provide its consent. The Company shall not, without the prior written consent of Indemnitee (which consent shall not
be unreasonably withheld or delayed), enter into any settlement which (i) includes an admission of fault of Indemnitee, any
non-monetary remedy imposed on Indemnitee or any monetary damages for which Indemnitee is not wholly and actually indemnified hereunder
or (ii) with respect to any Proceeding with respect to which Indemnitee may be or is made a party or may be otherwise entitled
to seek indemnification hereunder, does not include the full release of Indemnitee from all liability in respect of such Proceeding.

 

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Section 10.           Procedure
Upon Application for Indemnification.

  

(a)          Upon
written request by Indemnitee for indemnification pursuant to Section 9(a), a determination, if such determination is required
by applicable law, with respect to Indemnitee’s entitlement to indemnification hereunder shall be made in the specific case
by one of the following methods: (x) if a Change in Control shall have occurred, by Independent Counsel in a written opinion
to the Board; or (y) if a Change in Control shall not have occurred: (i) by a majority vote of the disinterested directors,
even though less than a quorum; (ii) by a committee of disinterested directors designated by a majority vote of the disinterested
directors, even though less than a quorum; or (iii) if there are no disinterested directors or if the disinterested directors
so direct, by Independent Counsel in a written opinion to the Board. For purposes hereof, disinterested directors are those members
of the Board who are not parties to the action, suit or proceeding in respect of which indemnification is sought. In the case that
such determination is made by Independent Counsel, a copy of Independent Counsel’s written opinion shall be delivered to
Indemnitee and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within
thirty (30) days after such determination. Indemnitee shall cooperate with the Independent Counsel or the Company, as applicable,
in making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such counsel
or the Company, upon reasonable advance request, any documentation or information which is not privileged or otherwise protected
from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. The Company shall
likewise cooperate with Indemnitee and Independent Counsel, if applicable, in making such determination with respect to Indemnitee’s
entitlement to indemnification, including providing to such counsel and Indemnitee, upon reasonable advance request, any documentation
or information which is not privileged or otherwise protected from disclosure and which is reasonably available to the Company
and reasonably necessary to such determination. Any out-of-pocket costs or expenses (including reasonable attorneys’ fees
and disbursements) actually and reasonably incurred by Indemnitee in so cooperating with the Independent Counsel or the Company
shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the
Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(b)          If
the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(a), the Independent
Counsel shall be selected by the Board if a Change in Control shall not have occurred or, if a Change in Control shall have occurred,
by Indemnitee. Indemnitee or the Company, as the case may be, may, within ten (10) days after written notice of such selection,
deliver to the Company or 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 2 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 the Delaware Court has determined that such objection is without merit. If, within
twenty (20) days after the later of (i) submission by Indemnitee of a written request for indemnification pursuant to Section 9(a),
and (ii) the final disposition of the Proceeding, including any appeal therein, no Independent Counsel shall have been selected
without objection, either Indemnitee or the Company may petition the Delaware Court for resolution of any objection which shall
have been made by Indemnitee or the Company to the selection of Independent Counsel and/or for the appointment as Independent Counsel
of a person selected by the court or by such other person as the court shall designate. The person with respect to whom all objections
are so resolved or the person so appointed shall act as Independent Counsel under Section 10(a) hereof. Upon the due
commencement of any judicial proceeding or arbitration pursuant to Section 12(a) of this Agreement, Independent
Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of
professional conduct then prevailing).

 

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(c)           Notwithstanding
anything to the contrary contained in this Agreement, the determination of entitlement to indemnification under this Agreement
shall be made without regard to the Indemnitee’s entitlement to and availability of insurance coverage, including advancement,
payment or reimbursement of defense costs, expenses or covered loss under the provisions of any applicable insurance policy (including,
without limitation, whether such advancement, payment or reimbursement is withheld, conditioned or delayed by the insurer(s)).

 

Section 11.            Presumptions
and Effect of Certain Proceedings.

 

(a)           To
the extent permitted by applicable law, in making a determination with respect to entitlement to indemnification hereunder, it
shall be presumed that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for
indemnification in accordance with Section 9(a) of this Agreement, and the Company shall have the burden of proof and
the burden of persuasion by clear and convincing evidence to overcome that presumption in connection with the making of any determination
contrary to that presumption. Neither (i) the failure of the Company or of Independent Counsel to have made a determination
prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstance because
Indemnitee has met the applicable standard of conduct, nor (ii) an actual determination by the Company or by Independent Counsel
that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that
Indemnitee has not met the applicable standard of conduct.

 

(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 guilty, nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement)
of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good
faith and in a manner 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)           Indemnitee
shall be deemed to have acted in good faith if Indemnitee’s actions are based on the records or books of account of the Company
or any other Enterprise, including financial statements, or on information supplied to Indemnitee by the directors, officers, agents
or employees of the Company or any other Enterprise in the course of their duties, or on the advice of legal counsel for the Company
or any other Enterprise or on information or records given or reports made to the Company or any other Enterprise by an independent
certified public accountant or by an appraiser or other expert selected with reasonable care by the Company or any other Enterprise.
The provisions of this Section 11(c) shall not be deemed to be exclusive or to limit in any way the other circumstances
in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. In addition, the
knowledge and/or actions, or failure to act, of any director, manager, partner, officer, employee, agent or trustee of the Company,
any subsidiary of the Company, or any Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification
under this Agreement. Whether or not the foregoing provisions of this Section 11(c) are satisfied, it shall in any event
be presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the
burden of persuasion by clear and convincing evidence.

 

    	 	10	 

     

    

 

Section 12.            Remedies
of Indemnitee.

 

(a)           Subject
to Section 12(f), 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
of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10(a) of
this Agreement within sixty (60) days after receipt by the Company of the request for indemnification for which a determination
is to be made other than by Independent Counsel, (iv) payment of indemnification or reimbursement of expenses is not made
pursuant to Section 5 or 6 or the last sentence of Section 10(a) of this Agreement within thirty (30) days after
receipt by the Company of a written request therefor (including any invoices received by Indemnitee, which such invoices may be
redacted as necessary to avoid the waiver of any privilege accorded by applicable law) or (v) payment of indemnification pursuant
to Section 3 or 4 of this Agreement is not made within thirty (30) days after a determination has been made that Indemnitee
is entitled to indemnification, Indemnitee shall be entitled to an adjudication by the Delaware Court of his or her entitlement
to such indemnification or advancement. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration
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 time limitation shall not apply in respect of a proceeding brought by Indemnitee to enforce his or her rights
under Section 5 of this Agreement. The Company shall not oppose Indemnitee’s right to seek any such adjudication or
award in arbitration.

 

(b)           In
the event that a determination shall have been made pursuant to Section 10(a) 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 have the
burden of proving Indemnitee is not entitled to indemnification or advancement, as the case may be.

 

(c)           If
a determination shall have been made pursuant to Section 10(a) 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
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

    	 	11	 

     

    

 

(d)           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.

 

(e)            The
Company shall indemnify Indemnitee to the fullest extent permitted by law against any and all Enforcement Expenses and, if requested
by Indemnitee, shall (within thirty (30) days after receipt by the Company of a written request therefor) advance, to the extent
not prohibited by law, such Enforcement Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action
brought by Indemnitee for indemnification or advancement from the Company under this Agreement or under any directors’ and
officers’ liability insurance policies maintained by the Company in the suit for which indemnification or advancement is
being sought. Such written request for advancement shall include invoices received by Indemnitee in connection with such Enforcement
Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditures
made that would cause Indemnitee to waive any privilege accorded by applicable law need not be included with the invoice.

 

(f)           Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be
required to be made prior to the final disposition of the Proceeding, including any appeal therein.

 

Section 13.            Non-exclusivity;
Survival of Rights; Insurance; Subrogation.

 

(a)           The
rights of indemnification and to receive advancement 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 Charter, the Bylaws, any agreement, a vote of stockholders
or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall
limit or restrict 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. To the extent that a change in Delaware law, whether
by statute or judicial decision, permits greater indemnification or advancement than would be afforded currently under the Charter,
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. 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. 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.

 

(b)           To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, managers, partners,
officers, employees, agents or trustees of the Company or of any other Enterprise, Indemnitee shall be covered by such policy
or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, manager,
partner, officer, employee, agent or trustee under such policy or policies. If, at the time of the receipt of a notice of a claim
pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt
notice of such claim to the insurers in accordance with the procedures set forth in the respective policies. The Company shall
thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable
as a result of such Proceeding in accordance with the terms of such policies. Upon request of Indemnitee, the Company shall also
promptly provide to Indemnitee: (i) copies of all of the Company’s potentially applicable directors’ and officers’
liability insurance policies, (ii) copies of such notices delivered to the applicable insurers, and (iii) copies of all
subsequent communications and correspondence between the Company and such insurers regarding the Proceeding.

 

    	 	12	 

     

    

 

(c)          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.

 

(d)          The
Company’s obligation to provide indemnification or advancement hereunder to Indemnitee who is or was serving at the request
of the Company as a director, manager, partner, officer, employee, agent or trustee of any other Enterprise shall be reduced by
any amount Indemnitee has actually received as indemnification or advancement from such other Enterprise.

 

Section 14.            Duration
of Agreement. This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date
that Indemnitee shall have ceased to serve as an officer of the Company or (b) one (1) 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
hereunder and of any proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement relating thereto. This Agreement
shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and his or her heirs,
executors and administrators. The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written
agreement in form and substance satisfactory to Indemnitee, 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.

 

Section 15.           Severability.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(a) 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; (b) 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 (c) 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.

 

    	 	13	 

     

    

 

Section 16.            Enforcement.

 

(a)          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 or continue to serve] as an officer of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as an officer of the Company.

 

(b)          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 Charter, the Bylaws and
applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

 

Section 17.            Modification
and Waiver. No supplement, modification or amendment, or waiver of any provision, of this Agreement shall be binding unless
executed in writing by the parties thereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver. No supplement, modification
or amendment of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement
in respect of any action taken or omitted by such Indemnitee prior to such supplement, modification or amendment.

 

Section 18.            Notice
by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena,
complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification,
reimbursement or advancement as provided hereunder. The failure of Indemnitee to so notify the Company or any delay in notification
shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise, unless, and
then only to the extent that, the Company did not otherwise learn of the Proceeding and such delay is materially prejudicial to
the Company’s ability to defend such Proceeding or matter; and, provided, further, that notice will be deemed to have been
given without any action on the part of Indemnitee in the event the Company is a party to the same Proceeding.

 

Section 19.            Notices.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been
directed, (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which
it is so mailed, (iii) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication
shall have been directed or (iv) sent by facsimile transmission, with receipt of oral confirmation that such transmission
has been received:

 

    	 	14	 

     

    

 

(a)            If
to Indemnitee, at such address as Indemnitee shall provide to the Company.

 

(b)            If
to the Company to:

  

___________________________

___________________________

___________________________

Attention:___________________

 

or to any other address as may have been furnished to Indemnitee
by the Company.

 

Section 20.            Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to
Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred
by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses,
in connection with any Proceeding in such proportion as is deemed fair and reasonable in light of all of the circumstances in
order to reflect (i) the relative benefits received by the Company and Indemnitee in connection with the event(s) and/or
transaction(s) giving rise to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers,
employees and agents) and Indemnitee in connection with such event(s) and/or transactions.

 

Section 21.            Internal
Revenue Code Section 409A. The Company intends for this Agreement to comply with the Indemnification exception under Section 1.409A-1(b)(10) of
the regulations promulgated under the Internal Revenue Code of 1986, as amended (the “Code”), which provides
that indemnification of, or the purchase of an insurance policy providing for payments of, all or part of the expenses incurred
or damages paid or payable by Indemnitee with respect to a bona fide claim against Indemnitee or the Company do not provide for
a deferral of compensation, subject to Section 409A of the Code, where such claim is based on actions or failures to act by
Indemnitee in his or her capacity as a service provider of the Company. The parties intend that this Agreement be interpreted and
construed with such intent.

 

Section 22.            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, 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 for purposes of any
action or proceeding arising out of or in connection with this Agreement, (iii) consent to service of process at the address
set forth in Section 19 of this Agreement 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,
and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court
has been brought in an improper or inconvenient forum.

 

    	 	15	 

     

    

 

Section 23.            Headings.
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.

  

Section 24.            Identical
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. Only one such counterpart signed by the
party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

Section 25.            Monetary
Damages Insufficient/Specific Enforcement. The Company and Indemnitee agree that a monetary remedy for breach of this Agreement
may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm.
Accordingly, the parties hereto agree that Indemnitee may enforce this Agreement by seeking injunctive relief and/or specific
performance hereof, without any necessity of showing actual damage or irreparable harm (having agreed that actual and irreparable
harm will result in not forcing the Company to specifically perform its obligations pursuant to this Agreement) and that by seeking
injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief
to which he may be entitled. The Company and Indemnitee further agree that Indemnitee shall be entitled to such specific performance
and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the
necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver,
a bond or undertaking may be required of Indemnitee by the Court, and the Company hereby waives any such requirement of a bond
or undertaking.

 

[Remainder of Page Intentionally Left
Blank]

 

    	 	16	 

     

    

 

IN WITNESS WHEREOF, the parties have caused
this Agreement to be signed as of the day and year first above written.

 

	 	908 Devices Inc.
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 	[Name of Indemnitee]Exhibit
10.13

 

908
DEVICES INC.

 

2020
EMPLOYEE STOCK PURCHASE PLAN

 

The purpose of the 908 Devices Inc. 2020
Employee Stock Purchase Plan (the “Plan”) is to provide eligible employees of 908 Devices Inc. (the “Company”)
and each Designated Subsidiary (as defined in Section 11) with opportunities to purchase shares of the Company’s common
stock, par value $0.001 per share (the “Common Stock”). An aggregate of 288,857 shares of Common Stock have been approved
and reserved for this purpose, plus on January 1, 2022, and each January 1 thereafter through January 1, 2030, the
number of shares of Common Stock reserved and available for issuance under the Plan shall be cumulatively increased by the least
of (i) 307,295 shares of Common Stock, (ii) one percent (1%) of the number of shares of Common Stock issued and outstanding
on the immediately preceding December 31st, or (iii) such number of shares of Common Stock as determined by the Administrator
(as defined in Section 1).

 

The Plan includes two components: a Code
Section 423 Component (the “423 Component”) and a non-Code Section 423 Component (the “Non-423 Component”).
It is intended for the 423 Component to constitute an “employee stock purchase plan” within the meaning of Section 423(b) of
the Internal Revenue Code of 1986, as amended (the “Code”), and the 423 Component shall be interpreted in accordance
with that intent. Under the Non-423 Component, which does not qualify as an “employee stock purchase plan” within the
meaning of Section 423(b) of the Code, options will be granted pursuant to rules, procedures or sub-plans adopted by
the Administrator designed to achieve tax, securities laws or other objectives for eligible employees. Except as otherwise provided
herein, the Non-423 Component will operate and be administered in the same manner as the 423 Component.

 

    

     

    

 

Unless otherwise defined herein, capitalized
terms in this Plan shall have the meaning ascribed to them in Section 11.

 

1.            Administration.
The Plan will be administered by the person or persons (the “Administrator”) appointed by the Company’s Board
of Directors (the “Board”) for such purpose. The Administrator has authority at any time to: (i) adopt, alter
and repeal such rules, guidelines and practices for the administration of the Plan and for its own acts and proceedings as it shall
deem advisable; (ii) interpret the terms and provisions of the Plan; (iii) make all determinations it deems advisable
for the administration of the Plan; (iv) decide all disputes arising in connection with the Plan; and (v) otherwise supervise
the administration of the Plan. All interpretations and decisions of the Administrator shall be binding on all persons, including
the Company and the Participants. No member of the Board or individual exercising administrative authority with respect to the
Plan shall be liable for any action or determination made in good faith with respect to the Plan or any option granted hereunder.

 

2.            Offerings.
The Company may make one or more offerings to eligible employees to purchase Common Stock under the Plan (“Offerings”).
Unless otherwise determined by the Administrator, the initial Offering will begin and end on dates to be determined by the Administrator
(the “Initial Offering”). Thereafter, unless otherwise determined by the Administrator, an Offering will begin on the
first business day occurring on or after each May 1 and November 1 and will end on the last business day occurring on
or before the following October 31 and April 30, respectively. The Administrator may, in its discretion, designate a
different period for any Offering, provided that no Offering shall exceed one year in duration or overlap any other Offering.

 

    2

     

    

 

3.            Eligibility.
All individuals classified as employees on the payroll records of the Company and each Designated Subsidiary are eligible to participate
in any one or more of the Offerings under the Plan, provided that as of the first day of the applicable Offering (the “Offering
Date”) they are employed by the Company or a Designated Subsidiary. Notwithstanding any other provision herein, individuals
who are not contemporaneously classified as employees of the Company or a Designated Subsidiary for purposes of the Company’s
or applicable Designated Subsidiary’s payroll system are not considered to be eligible employees of the Company or any Designated
Subsidiary and shall not be eligible to participate in the Plan. In the event any such individuals are reclassified as employees
of the Company or a Designated Subsidiary for any purpose, including, without limitation, common law or statutory employees, by
any action of any third party, including, without limitation, any government agency, or as a result of any private lawsuit, action
or administrative proceeding, such individuals shall, notwithstanding such reclassification, remain ineligible for participation.
Notwithstanding the foregoing, the exclusive means for individuals who are not contemporaneously classified as employees of the
Company or a Designated Subsidiary on the Company’s or Designated Subsidiary’s payroll system to become eligible to
participate in this Plan is through an amendment to this Plan, duly executed by the Company, which specifically renders such individuals
eligible to participate herein.

 

4.            Participation.

 

(a)            Participants.
An eligible employee who is not a Participant in any prior Offering may participate in a subsequent Offering by submitting an enrollment
form to his or her appropriate payroll location at least 15 business days before the Offering Date (or by such other deadline as
shall be established by the Administrator for the Offering).

 

    3

     

    

 

(b)            Enrollment.
The enrollment form will (a) state a whole percentage or amount to be deducted from an eligible employee’s Compensation
(as defined in Section 11) per pay period, (b) authorize the purchase of Common Stock in each Offering in accordance
with the terms of the Plan and (c) specify the exact name or names in which shares of Common Stock purchased for such individual
are to be issued pursuant to Section 10. An employee who does not enroll in accordance with these procedures will be deemed
to have waived the right to participate. Unless a Participant files a new enrollment form or withdraws from the Plan, such Participant’s
deductions and purchases will continue at the same percentage or amount of Compensation for future Offerings, provided he or she
remains eligible.

 

(c)            Notwithstanding
the foregoing, participation in the Plan will neither be permitted nor be denied contrary to the requirements of the Code.

 

5.            Employee
Contributions. Each eligible employee may authorize payroll deductions at a minimum of one percent (1%) up to a maximum of
fifteen percent (15%) of such employee’s Compensation for each pay period. The Company will maintain book accounts showing
the amount of payroll deductions made by each Participant for each Offering. No interest will accrue or be paid on payroll deductions.

 

6.            Deduction
Changes. Except as may be determined by the Administrator in advance of an Offering, a Participant may not increase or decrease
his or her payroll deduction during any Offering, but may increase or decrease his or her payroll deduction with respect to the
next Offering (subject to the limitations of Section 5) by filing a new enrollment form at least fifteen (15) business days
before the next Offering Date (or by such other deadline as shall be established by the Administrator for the Offering). The Administrator
may, in advance of any Offering, establish rules permitting a Participant to increase, decrease or terminate his or her payroll
deduction during an Offering.

 

    4

     

    

 

7.            Withdrawal.
A Participant may withdraw from participation in the Plan by delivering a written notice of withdrawal to his or her appropriate
payroll location. The Participant’s withdrawal will be effective as of the next business day. Following a Participant’s
withdrawal, the Company will promptly refund such individual’s entire account balance under the Plan to him or her (after
payment for any Common Stock purchased before the effective date of withdrawal). Partial withdrawals are not permitted. Such an
employee may not begin participation again during the remainder of the Offering, but may enroll in a subsequent Offering in accordance
with Section 4.

 

8.            Grant
of Options. On each Offering Date, the Company will grant to each eligible employee who is then a Participant in the Plan an
option (“Option”) to purchase on the last day of such Offering (the “Exercise Date”), at the Option Price
hereinafter provided for, the lowest of (a) a number of shares of Common Stock determined by dividing such Participant’s
accumulated payroll deductions on such Exercise Date by the Option Price (as defined herein), (b) the number of shares determined
by dividing $25,000 by the Fair Market Value of the Common Stock on the Offering Date for such Offering; or (c) such other
lesser maximum number of shares as shall have been established by the Administrator in advance of the Offering; provided, however,
that such Option shall be subject to the limitations set forth below. Each Participant’s Option shall be exercisable only
to the extent of such Participant’s accumulated payroll deductions on the Exercise Date. The purchase price for each share
purchased under each Option (the “Option Price”) will be eighty-five percent (85%) of the Fair Market Value of the
Common Stock on the Offering Date or the Exercise Date, whichever is less.

 

    5

     

    

 

Notwithstanding the foregoing, no Participant
may be granted an option hereunder if such Participant, immediately after the option was granted, would be treated as owning stock
possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or
any Parent or Subsidiary (as defined in Section 11). For purposes of the preceding sentence, the attribution rules of
Section 424(d) of the Code shall apply in determining the stock ownership of a Participant, and all stock which the Participant
has a contractual right to purchase shall be treated as stock owned by the Participant. In addition, no Participant may be granted
an Option which permits such Participant rights to purchase stock under the Plan, and any other employee stock purchase plan of
the Company and its Parents and Subsidiaries, to accrue at a rate which exceeds $25,000 of the fair market value of such stock
(determined on the option grant date or dates) for each calendar year in which the Option is outstanding at any time. The purpose
of the limitation in the preceding sentence is to comply with Section 423(b)(8) of the Code and shall be applied taking
Options into account in the order in which they were granted.

 

9.            Exercise
of Option and Purchase of Shares. Each employee who continues to be a Participant in the Plan on the Exercise Date shall be
deemed to have exercised his or her Option on such date and shall acquire from the Company such number of whole shares of Common
Stock reserved for the purpose of the Plan as his or her accumulated payroll deductions on such date will purchase at the Option
Price, subject to any other limitations contained in the Plan. Any amount remaining in a Participant’s account at the end
of an Offering solely by reason of the inability to purchase a fractional share will be carried forward to the next Offering; any
other balance remaining in a Participant’s account at the end of an Offering will be refunded to the Participant promptly.

 

    6

     

    

 

10.            Issuance
of Certificates. Certificates or book entries at the Company’s transfer agent representing shares of Common Stock purchased
under the Plan may be issued only in the name of the employee, in the name of the employee and another person of legal age as joint
tenants with rights of survivorship, or in the name of a broker authorized by the employee to be his, her or their nominee for
such purpose.

 

11.            Definitions.

 

The term “Compensation” means
the regular or basic rate of compensation.

 

The term “Designated Subsidiary”
means any present or future Subsidiary (as defined below) that has been designated by the Board to participate in the Plan. The
Board may so designate any Subsidiary, or revoke any such designation, at any time and from time to time, either before or after
the Plan is approved by the stockholders. The current list of Designated Subsidiaries is attached hereto as Appendix A.

 

The term “Fair Market Value of the
Common Stock” on any given date means the fair market value of the Common Stock determined in good faith by the Administrator;
provided, however, that if the Common Stock is admitted to quotation on the National Association of Securities Dealers Automated
Quotation System (“NASDAQ”), the NASDAQ Global Market, The New York Stock Exchange or another national securities exchange,
the determination shall be made by reference to the closing price on such date. If there is no closing price for such date, the
determination shall be made by reference to the last date preceding such date for which there is a closing price.

 

The term “Parent” means a “parent
corporation” with respect to the Company, as defined in Section 424(e) of the Code.

 

The term “Participant” means
an individual who is eligible as determined in Section 3 and who has complied with the provisions of Section 4.

 

    7

     

    

 

The term “Subsidiary” means
a “subsidiary corporation” with respect to the Company, as defined in Section 424(f) of the Code.

 

12.            Rights
on Termination of Employment. If a Participant’s employment terminates for any reason before the Exercise Date for any
Offering, no payroll deduction will be taken from any pay due and owing to the Participant and the balance in the Participant’s
account will be paid to such Participant or, in the case of such Participant’s death, to his or her designated beneficiary
as if such Participant had withdrawn from the Plan under Section 7. An employee will be deemed to have terminated employment,
for this purpose, if the corporation that employs him or her, having been a Designated Subsidiary, ceases to be a Subsidiary, or
if the employee is transferred to any corporation other than the Company or a Designated Subsidiary; provided, however, that if
a Participant transfers from an Offering under the 423 Component to an Offering under the Non-423 Component, the exercise of the
Participant’s Option will be qualified under the 423 Component only to the extent that such exercise complies with Section 423
of the Code. If a Participant transfers from an Offering under the Non-423 Component to an Offering under the 423 Component, the
exercise of the Participant’s Option will remain non-qualified under the Non-423 Component. An employee will not be deemed
to have terminated employment for this purpose if the employee is on an approved leave of absence for military service or sickness
or for any other purpose approved by the Company, if the employee’s right to reemployment is guaranteed either by a statute
or by contract or under the policy pursuant to which the leave of absence was granted or if the Administrator otherwise provides
in writing.

 

13.            Special
Rules and Sub-Plans. Notwithstanding anything herein to the contrary, the Administrator may adopt special rules applicable
to the employees of a particular Designated Subsidiary, whenever the Administrator determines that such rules are necessary
or appropriate for the implementation of the Plan in a jurisdiction where such Designated Subsidiary has employees; provided that
if such special rules or sub-plans are inconsistent with the requirements of Section 423(b) of the Code, the employees
subject to such special rules or sub-plans will participate in the Non-423 Component. Any special rules or sub-plans
established pursuant to this Section 13 shall, to the extent possible, result in the employees subject to such rules having
substantially the same rights as other Participants in the Plan.

 

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14.            Optionees
Not Stockholders. Neither the granting of an Option to a Participant nor the deductions from his or her pay shall constitute
such Participant a holder of the shares of Common Stock covered by an Option under the Plan until such shares have been purchased
by and issued to the Participant.

 

15.            Rights
Not Transferable. Rights under the Plan are not transferable by a Participant other than by will or the laws of descent and
distribution, and are exercisable during the Participant’s lifetime only by the Participant.

 

16.            Application
of Funds. All funds received or held by the Company under the Plan may be combined with other corporate funds and may be used
for any corporate purpose.

 

17.            Adjustment
in Case of Changes Affecting Common Stock. In the event of a subdivision of outstanding shares of Common Stock, the payment
of a dividend in Common Stock or any other change affecting the Common Stock, the number of shares approved for the Plan and any
other share limitations in the Plan shall be equitably or proportionately adjusted to give proper effect to such event.

 

18.            Amendment
of the Plan. The Board may at any time and from time to time amend the Plan in any respect, except that without the approval
within 12 months of such Board action by the stockholders, no amendment shall be made increasing the number of shares approved
for the Plan or making any other change that would require stockholder approval in order for the 423 Component of the Plan, as
amended, to qualify as an “employee stock purchase plan” under Section 423(b) of the Code.

 

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19.            Insufficient
Shares. If the total number of shares of Common Stock that would otherwise be purchased on any Exercise Date plus the number
of shares purchased under previous Offerings under the Plan exceeds the maximum number of shares issuable under the Plan, the shares
then available shall be apportioned among Participants in proportion to the amount of payroll deductions accumulated on behalf
of each Participant that would otherwise be used to purchase Common Stock on such Exercise Date.

 

20.            Termination
of the Plan. The Plan may be terminated at any time by the Board. Upon termination of the Plan, all amounts in the accounts
of Participants shall be promptly refunded.

 

21.            Governmental
Regulations. The Company’s obligation to sell and deliver Common Stock under the Plan is subject to obtaining all governmental
approvals required in connection with the authorization, issuance, or sale of such stock.

 

22.            Governing
Law. This Plan and all Options and actions taken thereunder shall be governed by, and construed in accordance with the General
Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all other matters shall be governed
by and construed in accordance with the internal laws of the Commonwealth of Massachusetts, applied without regard to conflict
of law principles.

 

23.            Issuance
of Shares. Shares may be issued upon exercise of an Option from authorized but unissued Common Stock, from shares held in the
treasury of the Company, or from any other proper source.

 

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24.            Tax
Withholding. Participation in the Plan is subject to any minimum required tax withholding on income of the Participant in connection
with the Plan. Each Participant agrees, by entering the Plan, that the Company and its Subsidiaries shall have the right to deduct
any such taxes from any payment of any kind otherwise due to the Participant, including shares issuable under the Plan.

 

25.            Notification
Upon Sale of Shares Under the 423 Component. Each Participant agrees, by entering the 423 Component of the Plan, to give the
Company prompt notice of any disposition of shares purchased under the Plan where such disposition occurs within two years after
the date of grant of the Option pursuant to which such shares were purchased or within one year after the date such shares were
purchased.

 

26.            Effective
Date. This Plan shall become effective upon the date immediately preceding the date upon which the registration statement on
Form S-1 that is filed by the Company with respect to its initial public offering is declared effective by the Securities
and Exchange Commission following stockholder approval in accordance with applicable state law, the Company’s bylaws and
articles of incorporation, each as amended, and applicable stock exchange rules.

 

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APPENDIX A

 

Designated Subsidiaries

 

    12

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