Document:

Additional Form of Warrant to Subscribe for Ordinary Shares- Life Sciences Fd II

 Exhibit 10.24 

THIS WARRANT INSTRUMENT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 5.3 AND 5.4 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM
AND SUBSTANCE SATISFACTORY TO THE COMPANY, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION. 
 WARRANT TO
SUBSCRIBE FOR SHARES 
  

			
	Company:	  	Iterum Therapeutics Public Limited Company (registered in Ireland under company number 563531)
		
	Number of Shares:	  	Equal to that number of Shares set forth in Section 1.8.
		
	Class of Share:	  	Ordinary Shares
		
	Warrant Price:	  	The lower of (i) the average closing price for the previous ten (10) consecutive days of trading immediately before the Funding Date of the applicable Term B Loan, calculated on the day immediately before the Funding Date
of the applicable Term B Loan, and (ii) the closing price on the day immediately before the Funding Date of the applicable Term B Loan (as adjusted in accordance with the terms of this warrant).
		
	Issue Date:	  	_______________ __, 20__
		
	Expiration Date:	  	April 27, 2028 See also Section 5.1(b).
		
	Credit Facility:	  	This Warrant to Subscribe for Shares (as the same may from time to time be amended, modified, supplemented or restated, the “Warrant”) is issued in connection with that certain Loan and Security Agreement dated as
of April 27, 2018 herewith among Silicon Valley Bank (“SVB”), Iterum Therapeutics International Limited, Iterum Therapeutics US Holding Limited, and Iterum Therapeutics US Limited (as the same may from time to time be amended,
modified, supplemented or restated, the “Loan Agreement”) and the participation therein of Life Science Loans II, LLC (“LSL”) pursuant to an arrangement between SVB and LSL.

 THIS WARRANT CERTIFIES THAT, LIFE SCIENCE LOANS II, LLC (“LSL” and, together with any
successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, “Holder”) is entitled to subscribe for the number of fully paid and non-assessable
(which term, when used herein, means that no further sums are required to be paid in connection with such Shares by the holder(s) thereof) shares (the “Shares”) of the above-stated ordinary shares (the “Ordinary
Shares”) of the above-named company (the “Company”) at the above-stated Warrant Price, all as set forth above and as adjusted pursuant to Section 2 of this Warrant, subject to the provisions and upon the terms and
conditions set forth in this Warrant. The Company has, by resolution of its board of directors, agreed to execute this Warrant Instrument and issue Warrants to subscribe for the Shares on the terms set out in this Instrument and the relevant
registered holder(s) of shares and/or investors in the Company have irrevocably waived any and all pre-emption rights conferred on them (whether under Regulation 8.3 of the constitution of the Company (the
“Constitution”), the Shareholders Agreements or otherwise) in relation to the issue of Warrants and any Shares pursuant to this Warrant Instrument. 

SECTION 1. EXERCISE. 
 1.1
Method of Exercise. Holder may at any time and from time to time exercise this Warrant, in whole or in part, by delivering to the Company the original of this Warrant together with a duly executed Notice of Exercise in substantially the form
attached hereto as Appendix 1 and, a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the
Shares being subscribed for pursuant to such exercise as determined pursuant to Section 1.2 below (the “Subscription Price”). Thereupon, the Company shall issue to the Holder such number of fully paid and non-assessable shares determined in accordance with Section 1.2 below. 

  
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 1.2 Exercise. On any exercise of this Warrant: 

(a) if Holder does not elect in the applicable Notice of Exercise to effect that exercise pursuant to Section 1.2(b) below, the number of
Shares to be issued by the Company pursuant to that exercise shall be the number of Shares specified in paragraph 1 of the applicable Notice of Exercise and the Subscription Price payable in respect of their exercise shall be the product of the
Warrant Price multiplied by the number specified in paragraph 1 of the applicable Notice of Exercise; and 
 (b) if Holder does elect in the
applicable Notice of Exercise to effect that exercise pursuant to this Section 1.2(b), the number of Shares to be issued by the Company pursuant to that exercise shall be calculated in accordance with the following formula: 

X = Y(A-B)/A 

where: 
  

	 	X =	the number of Shares to be issued by the Company pursuant to that exercise; 

  

	 	Y =	the number of Shares specified in paragraph 1 of the applicable Notice of Exercise; 

  

	 	A =	the Fair Market Value (as determined pursuant to Section 1.3 below) of one Share; and 

  

	 	B =	the Warrant Price. 

 and the Subscription Price payable in respect of that exercise shall be the product of the
then nominal value of a Share multiplied by the number of Shares specified in paragraph 1 of the applicable Notice of Exercise and notwithstanding the Shares are issued at nominal value, the Holder shall be deemed to have paid the relevant Warrant
Price per Share for the purposes of calculating any distribution or share of sale or other proceeds in each case attributable to the Shares and to the other issued shares of the Class and for all other purposes. 

1.3 Fair Market Value. If the Company’s Ordinary Shares are then traded or quoted on a nationally recognized securities exchange,
inter-dealer quotation system or over-the-counter market (a “Trading Market”), the fair market value of a Share shall be the closing price or last sale
price of an Ordinary Share of the Company reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If the Company’s Ordinary Shares are not traded in a
Trading Market, the Board of Directors of the Company shall determine the fair market value of a Share in its reasonable good faith judgment. 

1.4 Delivery of Share Certificate and New Warrant. If the Shares are in certificated form, within a reasonable time after Holder
exercises this Warrant in the manner set forth in Section 1.1 or 1.2 above, the Company shall deliver to Holder a share certificate representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised
and has not expired, a new warrant of like tenor representing the Shares not so acquired. 
 1.5 Replacement of Warrant. On receipt of
evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount
to the Company or, in the case of mutilation, on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount.

 1.6 Treatment of Warrant Upon Acquisition of Company. 

(a) Acquisition. For the purpose of this Warrant, “Acquisition” means any transaction or series of related transactions
involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company (ii) any merger or consolidation of the Company into or with another

  
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person or entity (other than a merger or consolidation effected exclusively to change the Company’s domicile), or any other corporate reorganization, in which the shareholders of the Company
in their capacity as such immediately prior to such merger, consolidation or reorganization, own less than a majority of the Company’s (or the surviving or successor entity’s) outstanding voting power immediately after such merger,
consolidation or reorganization (or, if such Company shareholders beneficially own a majority of the outstanding voting power of the surviving or successor entity as of immediately after such merger, consolidation or reorganization, such surviving
or successor entity is not the Company); or (iii) any sale or other transfer by the shareholders of the Company of shares representing at least a majority of the Company’s then total outstanding combined voting power. 

(b) Treatment of Warrant at Acquisition. In the event of an Acquisition in which the consideration to be received by the Company’s
shareholders consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable Securities (a “Cash/Public Acquisition”), either (i) Holder shall exercise this Warrant pursuant to Section 1.1
and/or 1.2 and such exercise will be deemed effective immediately prior to and contingent upon the consummation of such Acquisition or (ii) if Holder elects not to exercise the Warrant, this Warrant will expire immediately prior to the
consummation of such Acquisition. 
 (c) The Company shall provide Holder with written notice of its request relating to the Cash/Public
Acquisition (together with such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection with such contemplated Cash/Public Acquisition giving rise to such notice), which is to be delivered to
Holder not less than seven (7) Business Days prior to the closing of the proposed Cash/Public Acquisition. In the event the Company does not provide such notice, then if, immediately prior to the Cash/Public Acquisition, the fair market value
of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above would be greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of
such date to be exercised pursuant to Section 1.2(b) above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall promptly notify the Holder of the number of Shares (or such
other securities) issued upon such exercise to the Holder and Holder shall pay to the Company in the manner prescribed in Section 1.1 above an amount equal to the Subscription Price in respect of such exercise and be deemed to have restated
each of the representations and warranties in Section 4 of the Warrant as the date thereof. 
 (d) Upon the closing of any Acquisition
other than a Cash/Public Acquisition defined above, the acquiring, surviving or successor entity shall assume the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property as would
have been paid for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on and as of the closing of such Acquisition, subject to further adjustment from time to time in accordance with the
provisions of this Warrant. 
 (e) As used in this Warrant, “Marketable Securities” means securities meeting all of the
following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is then current
in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition were Holder
to exercise this Warrant on or prior to the closing thereof is then traded in Trading Market, and (iii) following the closing of such Acquisition, Holder would not be restricted from publicly re-selling
all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise or convert this Warrant in full on or prior to the closing of such Acquisition, except to the extent that any such
restriction (x) arises solely under federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition. 

1.7 Shares To Be Fully Paid. All Shares issued upon the exercise of this Warrant shall be validly issued and, subject to receipt by the
Company of the aggregate Subscription Price for such Shares, fully paid, free of all liens, transfer taxes, charges and other encumbrances or restrictions on sale, except as set forth in any Lock-up Agreement
that may be entered into by and between Holder and the Company’s underwriters. 

  
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 1.8 Number of Shares. On the Funding Date of each Term B Loan under the Loan Agreement,
the Company shall be deemed to have automatically granted to Holder the right to purchase at an exercise price per share equal to the applicable Warrant Price, that number of Shares equal to (i) 0.0125 multiplied by (ii) the original principal
amount of each such Term B Loan, divided by (iii) the applicable Warrant Price. Capitalized terms used but not defined in this Section 1.8 shall have the meanings given to them in the Loan Agreement. 

SECTION 2. ADJUSTMENTS TO THE SHARES AND WARRANT PRICE. 

2.1 Stock Dividends, Splits, Etc. If the Company declares, pays or makes a dividend or distribution or bonus issue on the issued shares
of the Ordinary Shares payable in securities or property (other than cash), then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and kind of securities and property
which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution occurred. If the Company subdivides the issued shares of the Ordinary Shares by reclassification or otherwise into a greater number of
shares, the number of Shares subscribable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the issued shares of the Ordinary Shares are combined or consolidated, by reclassification or
otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 

2.2 Reclassification, Exchange, Combinations or Substitution. Upon any event whereby all of the issued shares of the Ordinary Shares
are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such event, this Warrant will be exercisable for the number, class
and series of Company securities that Holder would have received had the Shares been outstanding on and as of the consummation of such event, and subject to further adjustment thereafter from time to time in accordance with the provisions of this
Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations substitutions, replacements or other similar events. 

2.3 Intentionally Omitted. 

2.4 Intentionally Omitted. 

2.5 No Fractional Share. No fractional Share shall be issuable upon exercise of this Warrant and the number of Shares to be issued shall
be rounded down to the nearest whole Share. If a fractional Share interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional Share interest by paying Holder in cash the amount computed by multiplying the fractional
interest by (i) the fair market value (as determined in accordance with Section 1.3 above) of a full Share, less (ii) the then-effective Warrant Price. 

2.6 Notice/Certificate as to Adjustments. Upon each adjustment of the Warrant Price, Ordinary Shares and/or number of Shares, the
Company, at the Company’s expense, shall notify Holder in writing within a reasonable time setting forth the adjustments to the Warrant Price, Class and/or number of Shares and facts upon which such adjustment is based. The Company shall,
upon written request from Holder, furnish Holder with a certificate of its Chief Financial Officer, including computations of such adjustment and the Warrant Price, class and number of Shares in effect upon the date of such adjustment and each
reference in this Warrant to the Warrant Price, Class and/or number of Shares shall, unless expressly provided otherwise herein, be construed as a reference to the Warrant Price, class and/or number of Shares respectively as adjusted in
accordance with the terms of this Warrant. 
 SECTION 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 

3.1 Representations and Warranties. The Company represents and warrants to, and agrees with, the Holder as follows: 

(a) The Company has full power and authority to execute and deliver this Warrant and to comply with the provisions of and perform its
obligations under, this Warrant. 

  
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 (b) The Company has taken all necessary action to authorise the execution, delivery and
performance of this Warrant and this Warrant constitutes legal, valid and binding obligations enforceable against it. 
 (c) The execution of
this Warrant and the performance by the Company of its obligations hereunder do not and will not conflict with its Constitution or law or regulation applicable to it. 

(d) The initial Warrant Price referenced on the first page of this Warrant is not greater than the lower of (i) the average closing price
for the previous ten (10) consecutive days of trading immediately before the Funding Date of the applicable Term B Loan, calculated on the day immediately before the Funding Date of the applicable Term B Loan, and (ii) the closing price on
the day immediately before the Funding Date of the applicable Term B Loan (as adjusted in accordance with the terms of this warrant). 
 (e)
All Shares which may be issued upon the exercise of this Warrant shall, upon issuance and payment of the Subscription Price, be duly authorized, validly issued, fully paid and non-assessable, and free of any
liens and encumbrances except for restrictions on transfer provided for herein or under the Constitution or applicable federal and state securities laws and shall rank pari passu in all respects with all other Shares in issue on the date of such
issuance and conform to the rights attached to such shares set out in the Constitution. The Company covenants that it shall at all times cause to be reserved and kept available out of its authorized and unissued share capital such number of
securities as will be sufficient to permit the exercise in full of this Warrant. 
 (f) The Company’s capitalization table attached
hereto as Schedule 1 is true and complete, in all material respects, as of the Issue Date. 
 (g) The Company has supplied the Holder(s) with
the current constitution of the Company and any shareholders’ agreement (or similar) relating to the regulation of the Company’s affairs with its shareholders or which otherwise may affect the Warrant and a Holder’s subscription for
Shares. 
 (h) The Company has obtained all relevant consents and waivers (in each case as may be requested under the Constitution or any
other shareholders agreement to which the Company is a party) to enter into and perform its obligations under this Warrant Instrument. 
 3.2
Notice of Certain Events. If the Company proposes at any time to: 
 (a) Declare, pay or make any dividend, distribution or bonus
issue upon the issued shares of the Company’s shares, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; 

(b) offer for subscription or sale pro rata to the holders of the issued shares of any additional shares of any class or series of the
Company’s share capital (other than pursuant to contractual pre-emptive rights); 
 (c) effect
any reclassification, exchange, combination, substitution, reorganization or recapitalization of the issued shares of the Ordinary Shares; or 

(d) effect an Acquisition or to liquidate, dissolve or wind up. 

then, in connection with each such event, the Company shall give Holder: 

(1) in the case of the matters referred to in (a) and (b) above, at least seven (7) Business Days prior written notice of the
earlier to occur of the effective date thereof or the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of outstanding shares of the Ordinary Shares will be
entitled thereto) or for determining rights to vote, if any; and 
 (2) in the case of the matters referred to in (c) and (d) above at
least seven (7) Business Days prior written notice of the date when the same will take place (and specifying the date on which the holders of outstanding shares of the Ordinary Shares will be entitled to exchange their shares for the securities
or other property deliverable upon the occurrence of such event). 

  
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 Reference is made to Section 1.6(c) whereby this Warrant will be deemed to be exercised pursuant to
Section 1.2(b) hereof if the Company does not give written notice to Holder of a Cash/Public Acquisition as required by the terms hereof. Company will also provide information requested by Holder that is reasonably necessary to enable Holder to
comply with Holder’s accounting or reporting requirements. 
 SECTION 4. REPRESENTATIONS, WARRANTIES OF THE HOLDER. 

The Holder represents and warrants to the Company as follows: 

4.1 Acting for Own Account. This Warrant and the Shares to be acquired upon exercise of this Warrant by Holder are being acquired for
investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring this
Warrant or the Shares. 
 4.2 Disclosure of Information. Holder is aware of the Company’s business affairs and financial
condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has
had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such
information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access. 

4.3 Investment Experience. Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk.
Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities and has such knowledge
and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company and
certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons. 

4.4 Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D promulgated under the
Act. 
 4.5 The Act. Holder understands that this Warrant and the Shares issuable upon exercise hereof have not been registered under
the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. Holder understands that this Warrant and the Shares issued
upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and qualification are otherwise available. Holder is
aware of the provisions of Rule 144 promulgated under the Act. 
 4.6 Market Stand-off
Agreement. Holder agrees that the Shares may be subject to the Market Standoff provisions in Section 2.11 of the Investor Rights Agreement or similar agreement, if applicable. 

4.7 No Voting Rights. Holder, as a Holder of this Warrant, will not have any voting rights or other rights as a shareholder of the
Company until the exercise of this Warrant. 
 4.8 Reserved. 

  
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 SECTION 5. MISCELLANEOUS. 

5.1 Term; Automatic Net Issuance Exercise Upon Expiration. 

(a) Term. Subject to the provisions of Section 1.6 above, this Warrant is exercisable in whole or in part at any time and from time
to time on or before 6:00 PM, Pacific time, on the Expiration Date and shall be void thereafter. 
 (b) Automatic Exercise upon
Expiration. In the event that, upon the Expiration Date, the Fair Market Value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect
on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2(b) above as to all Shares (or such other securities) for which it shall not previously have been exercised, and,
subject to receipt by the Company of the Subscription Price in respect of the Shares issuable pursuant to such exercise in accordance with Section 1.1, the Company shall, within a reasonable time, deliver a certificate representing the Shares
(or such other securities) issued upon such exercise to Holder. 
 5.2 Legends. Each certificate evidencing Shares (and each
certificate evidencing the securities issued upon conversion of any Shares, if any) shall be imprinted with a legend in substantially the following form: 

THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO SUBSCRIBE FOR SHARES ISSUED BY THE ISSUER TO LIFE SCIENCE LOANS II, LLC
                            , 20            , MAY
NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT
FROM SUCH REGISTRATION. 
 5.3 Compliance with Securities Laws on Transfer. This Warrant and the Shares issued upon exercise of this
Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor and
the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an
opinion of counsel if the transfer is to any affiliate of Holder, provided that any such transferee is an “accredited investor” as defined in Regulation D promulgated under the Act. Additionally, the Company shall also not require an
opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act. 
 5.4 Transfer
Procedure. Subject to the provisions of Section 5.3 and upon providing the Company with written notice, LSL and any subsequent Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the
shares issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in connection with any such transfer, LSL or any subsequent Holder will give the Company notice of the portion of the Warrant being
transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable); and provided further, that any subsequent
transferee shall agree in writing with the Company to be bound by all of the terms and conditions of this Warrant. 
 5.5 Warrant
Register. The Company will maintain a register in respect of this Warrant on which shall be entered the name(s) and addresses(s) of the Holders and the particulars of this Warrant held by them and of all cancellations and transfers (in
accordance with Section 5.4 above) and exercise of this Warrant. 

  
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 5.6 Notices. All notices and other communications hereunder from the Company to the
Holder, or vice versa, shall be deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified mail, postage prepaid, (iii) upon actual receipt
if given by facsimile or electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier service, courier fee prepaid, in any case at such address
as may have been furnished to the Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the provisions of this Section 5.6. All notices to Holder shall be addressed as follows until
the Company receives notice of a change of address in connection with a transfer or otherwise: 
 Life Science Loans II, LLC 

Attn: Trent Dawson, Chief Financial Officer 

3720 Carillon Point 
 Kirkland,
Washington 98033-7455 
 Facsimile: (425) 952-3951 

Email address: tdawson@wrg.vc 

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address: 

Iterum Therapeutics Public Limited Company 

200 West Monroe, Suite 1575 

Chicago, IL 60606 
 Attn:
                                        
             
 Telephone:
                                        
   
 Facsimile:
                                        
     
 Email:
                                        
           
 With a copy (which shall not constitute notice) to: 

Cooley LLP 
 1700 Seventh
Avenue, Suite 1900 
 Seattle, WA 98101-1355 

Attn: Alan Hambelton and Colleen Burns 

Telephone: (206)-452-8700 

Facsimile: (206)-452-8800 

Email: ahambelton@cooley.com and cburns@cooley.com 

5.7 Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated (either generally or in a particular
instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

5.8 Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party
prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

5.9 Counterparts; Facsimile/Electronic Signatures. This Warrant may be executed in counterparts, all of which together shall constitute
one and the same agreement. Any signature page delivered electronically or by facsimile shall be binding to the same extent as an original signature page with regards to any agreement subject to the terms hereof or any amendment thereto. 

5.10 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to its principles regarding conflicts of law. 

  
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 5.11 Headings. The headings in this Warrant are for purposes of reference only and shall
not limit or otherwise affect the meaning of any provision of this Warrant. 
 5.12 Business Days. “Business Day” is
any day that is not a Saturday, Sunday or a day on which LSL is closed. 
 5.13 Rights as Shareholders Information. No holder of this
Warrant, as such shall be entitled to vote or receive dividends or be deemed the holder of ordinary shares or series preferred shares which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be
construed to confer upon the holder of this Warrant, as such, any of the rights of a shareholder of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to receive
notice of meetings, or to receive dividends or subscription rights or otherwise until this Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. Notwithstanding the
foregoing, the Company will transmit to the holder of this Warrant such information, documents and reports as are generally distributed to the holders of any class or series of the securities of the Company concurrently with the distribution thereof
to the shareholders. 
 5.14 Binding Effect on Successors. This Warrant shall be binding upon any corporation succeeding the Company
by merger, consolidation or acquisition of all or substantially all of the Company’s assets, and all of the obligations of the Company relating to the Shares issuable upon the exercise or conversion of this Warrant shall survive the exercise,
conversion and termination of this Warrant and all of the covenants and agreements of the Company shall inure to the benefit of the successors and assigns of the holder hereof. 

5.15 Any modification to this Warrant Instrument may be effected only by deed executed by the Company and with the prior sanction of Holder
Consent. 
 5.16 All or any of the rights for the time being attached to the Warrants (including the Subscription Rights) may from time to
time (whether or not the Company is being wound up) be altered or abrogated with the prior sanction of Holder Consent and with the consent of the Company. 

[Remainder of page left blank intentionally] 

[Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties have caused this Warrant to Subscribe for Shares to be executed
by their duly authorized representatives effective as of the Issue Date written above. 
 “COMPANY” 

 

					
	 SIGNED AND DELIVERED as a Deed

for and on behalf of
 ITERUM THERAPEUTICS PUBLIC

LIMITED COMPANY
 by its lawfully appointed
attorney

			
	  
	 		 	  

	(Print Name)	 		 	
		 		 	ITERUM THERAPEUTICS PUBLIC LIMITED COMPANY
	In the presence of:	 		 	  
 by its
attorney,                                       
     

                          
  (Print Name)

			
	  
	 		 	
	(Witness’ Signature)	 		 	
			
	  
	 		 	
	(Witness’ Name)	 		 	
			
	  
	 		 	
	(Witness’ Address)	 		 	
			
	  
	 		 	
	(Witness’ Occupation)	 		 	

 “HOLDER” 
  

	
	 LIFE SCIENCE LOANS II, LLC

By: Loan Manager, LLC, its Managing Member

	
	
By:                  
                                         
                             

      Trent Dawson, Chief Financial Officer

  
 [Signature
Page to Warrant to Subscribe for Shares- LSL] 

 APPENDIX 1 

NOTICE OF EXERCISE 
 1.
The undersigned Holder hereby exercises its right to subscribe for                          shares of the Ordinary Shares of
Iterum Therapeutics Public Limited Company (the “Company”) in accordance with the attached Warrant To Subscribe for shares, and tenders payment of the aggregate Warrant Price for such shares as follows: 

 

	 	☐	check in the amount of $                 payable to order of the Company enclosed herewith 

 

	 	☐	Wire transfer of immediately available funds to the Company’s account 

  

	 	☐	Net issuance Exercise pursuant to Section 1.2(b) of the Warrant Instrument 

  

	 	☐	Other [Describe]
                                         
            

 2. If the Shares are in certificated form, please
issue a certificate or certificates representing the Shares in the name specified below: 
  

                       
                                         
     
 Holder’s Name 
  

                       
                                         
     
  

                       
                                         
     
 (Address) 

3. By its execution below and for the benefit of the Company, Holder hereby restates each of the representations and warranties in
Section 4 of the Warrant to Subscribe for shares as of the date hereof. 
  

	
	HOLDER:
	
	                                      
                                         
     
	
	By:                                     
                                         

	
	Name:                                     
                                    
	
	Title:                                     
                                       
	
	Date:                                     
                                       

 SCHEDULE 1 

Company Capitalization Table 

See attachedEX-10.1

 Exhibit 10.1 
  

 
 April 20, 2018 

HADLEY ROBBINS 
 President &
Chief Executive Officer 
 VIA ELECTRONIC & REGULAR MAIL 

PERSONAL AND CONFIDENTIAL 

Mr. Greg Sigrist 
 429
Wyckoff Avenue 
 Wyckoff, NJ 07481 
  

	 	Re:	Employment Offer 

 Dear Greg: 

We are pleased to extend you an offer of employment as EVP, Chief Financial Officer (collectively, “CFO”) for Columbia Banking
System, Inc., including without limitation its wholly-owned subsidiary Columbia Bank (collectively, the “Bank”). This letter confirms the terms and conditions of our offer, and supersedes any other discussions or representations. Please
review it carefully at your earliest opportunity and let me know if you have any questions or concerns, or a different recollection of anything discussed. If you accept our offer, please sign the last page of this letter, retain a copy of the entire
letter for your own records, and return the original with your signature to me. Please also bear in mind that this offer remains contingent upon our satisfaction with the results of the background check. 

Location/Reporting/Duties: As CFO, you will office at our corporate headquarters in Tacoma and you will report to, and take direction
from me, as President and Chief Executive Officer. You will be expected to timely and satisfactorily perform the duties customarily performed by a CFO. Your precise duties may be changed, extended or curtailed, from time to time at my discretion or
that of the Board of Directors (“Board”); provided, however, that no material changes will be made without first consulting with you. As a member of executive leadership, you will be required to devote your entire working time, effort and
skill to the Bank’s business and affairs; to faithfully and diligently serve the Bank’s interests; and to not engage in any business or employment activity that is not on the Bank’s behalf (whether or not pursued for gain or profit),
except for (a) activities approved in writing in advance by me or the Board and (b) passive investments that do not involve you rendering advice or service to the businesses in which the investments are made. 

Term/At-Will: Your employment with us is for an indefinite term. While we hope and expect that
it will be a mutually rewarding relationship, the unfortunate fact is that circumstances can change and employment terminations do occur from time to time. For these reasons, you should understand that your employment with the Bank is on an at-will basis. You and we are free to end the relationship at any time for any reason. The Bank is not required to show cause, provide progressive discipline or follow any other procedure before discharge. This
policy may be changed only by way of a written agreement signed by me. If you hear or read any statements in the future that suggest to you that your employment status is something other than at-will, you
should disregard them and advise me immediately. 

  
 1 

1301 A Street, Suite 800, PO Box 2156, Tacoma, WA 98401-2156   I
253-396-6985   |   robbinsh@columbiabank.com   |   ColumbiaBank.com 

 Annual Salary: Your initial annual salary will be in the gross amount of Three Hundred and
Seventy-Five Thousand Dollars and No Cents ($375,000.00). Your annual salary will be reviewed at least annually as part of the Bank’s regular compensation review process and may be adjusted at the Bank’s discretion. 

Annual Incentive Compensation: You will be eligible to participate in the Bank’s Annual Incentive Compensation Plan, which
currently provides a target opportunity for an annual incentive in an amount equal to up to forty percent (40%) of your annual salary. The annual incentive that is earned for calendar year 2018 shall be determined based on the base salary actually
paid to you in 2018. The determinations whether, and in what amounts, to award this form of annual incentive are made at the Bank’s discretion or as otherwise provided in the governing plan document. 

One-Time Signing and Relocation Bonus: You will be provided a
one-time signing and relocation bonus in the gross sum of One Hundred Thousand Dollars and No Cents ($100,000.00). This sum will be subject to regular payroll deductions and withholding, per applicable law,
and the Bank’s customary payroll practices. It is provided on the expectation, and condition, that you successfully complete at least two (2) years of continuous employment with the Bank. Consequently, you understand and agree that in the
event that, prior to successful completion of the referenced two (2)-year period, your employment is terminated for cause, or you resign, the signing and relocation bonus is subject to reimbursement on a straight-line prorated basis. This means, for
example, that if you resign after successful completion of only twelve (12) months of continuous employment, which is fifty percent (50%) of the two (2)-year obligation, you shall be obligated to repay the Bank Fifty Thousand Dollars and No
Cents ($50,000.00), which represents fifty percent (50%) of the signing and relocation bonus. For purposes of this repayment obligation, “cause” is determined at the Bank’s discretion and includes, by way of example and without
limitation, (i) any act of dishonesty, whether by affirmative misrepresentation, omission, or other means; (ii) any act or omission that causes, or reasonably could cause, harm to the Banks’ standing, reputation and/or goodwill;
(iii) violation of the Bank’s policies, now in effect or hereafter amended, regarding ethics, conflicts of interest, governmental reporting, regulatory oversight and/or equal employment opportunity (including its policies prohibiting
harassment, discrimination and retaliation); (iv) conviction of, or plea of nolo contendere to, a felony, or to any crime involving violence (actual or threatened), fraud, embezzlement or any other act of moral turpitude; (v) unauthorized or
improper use or disclosure of any confidential information or trade secrets of the Bank and/or its business partners, customers, and/or officers or employees; (vi) breach of any obligation under any written agreement or covenant with the Bank,
including any set forth in this offer letter/agreement; and/or (vi) failure or refusal to discharge job duties or responsibilities in a consistently timely and professional manner, provided that the failure or refusal continues or recurs after
you have been provided written notice and a reasonable opportunity to cure, which shall not be less than thirty (30) days. Repayment shall become immediately due and payable upon the effective date of your employment termination or resignation.
Any portion of the required repayment that has not been received by the Bank within thirty (30) calendar days after the effective date of termination or resignation, as applicable, shall then begin to bear interest at six percent (6%) per annum
until the required refund and such interest has been paid in full. Upon the effective date of termination or resignation, as applicable, or any time thereafter, the Bank may apply to the sum or outstanding balance of the repayment obligation any
amounts otherwise payable to you in any form, including, without limitation, as earned salary and/or bonuses, paid vacation and/or severance, until the required repayment and such interest has been paid in full. By signing below and accepting this
offer of employment, you agree that the Bank may, and you hereby authorize it to, deduct from your paycheck(s), including without limitation your final paycheck upon separation of employment, any amounts owed under this provision. 

Sign-On Restricted Stock Award: Upon satisfactory completion of ninety (90) days of
employment, as determined by the Bank and subject to Board approval, you will be eligible for a grant of two thousand and five hundred (2500) restricted shares of Bank stock. This grant, and all rights and obligations associated with the
underlying shares, shall be administered in accordance with the governing plan documents. 

  
 2 

 Benefits Generally. You will be eligible for all benefits currently or hereafter
maintained by the Bank for senior executives. These benefits are described in more detail in our policies and formal plan documents, which will be made available to you. If you wish to review the policies or formal plan documents now, before
deciding whether to accept this offer, please let me know and I will provide them to you. Please bear in mind that, with respect to benefits that are described in formal plan documents, the terms and conditions set forth in the plan documents
control over any other statements, oral or written, regardless of source. Consequently, while we summarize the major benefits here, the governing plan documents control. Please also understand that our benefits package is subject to change. While we
expect our package to remain intact, if not grow, due to ever-changing business circumstances we cannot promise to offer or maintain any particular type or level of benefits for any specific period or on any particular terms or conditions. 

Long Term Equity Incentive Compensation: Pursuant to the terms and conditions set forth in the Amended and Restated Employee Stock
Option and Equity Compensation Plan, you are eligible to participate in the Bank’s 2018 long term equity incentive program, which currently offers a target opportunity in an amount equal to up to fifty-five percent (55%) of your annual salary.

 Vacation: You will be eligible for twenty-five (25) days of paid vacation annually, which shall be administered in accordance
with the Bank’s general vacation policy. 
 401(k): Upon commencement of employment, you will be eligible to participate in the
Bank’s 40l(k) plan. You may defer up to seventy-five percent (75%) of your pay with pre-tax dollars up to the IRS limit. The Bank currently matches fifty (50) cents on the dollar of the first six
percent (6%) of contribution. In addition, there is consideration each year of a discretionary contribution for each employee who is eligible to participate in the 401(k) Plan. 

SERP: You will be eligible to participate in the Bank’s Supplemental Executive Retirement Plan (SERP), which, as previously
discussed, provides a retirement benefit based upon a vesting schedule and certain eligibility conditions. The SERP also provides a death benefit to the participant’s beneficiary if the participant is an active employee at the time of death.

 Group Insurance: We currently offer medical, dental, AD&D and long-term disability coverages at our expense for you (the
employee), and the option of extending coverage to eligible dependents at your expense. These coverages will begin on the first day of the month following your first day of active employment. 

Employee Stock Purchase Plan: You will be eligible to participate in the Bank’s Employee Stock Purchase Plan. This plan currently
provides for offering periods of six (6) months ending in the months of June and December. Once enrolled in the plan, the Bank will purchase stock through funds collected via payroll deduction. At the end of the offering period, the Bank will
use the funds collected from you to purchase shares of common stock at the lower of the market price of the stock at either the beginning of the offering period or the last day of that period, less a ten percent (10%) discount. 

Change in Control Agreement: You will be provided the opportunity for enhanced benefits, and corresponding contractual obligations, in
the context of certain corporate events, pursuant to the Columbia State Bank Change in Control Agreement (CIC). Stated broadly, the benefits include severance and accelerated vesting, while the obligations include covenants against unfair
competition. 

  
 3 

 Expenses. Upon timely presentation of all receipts and other documentation reasonably
requested by the Bank, we will you for reasonable business expenses incurred in furtherance of your duties and responsibilities as CFO. Reimbursement will be administered in accordance with the Bank’s expense reimbursement policies and
practices, as currently in effect or hereafter amended. 
 Greg, we are indeed happy to extend this employment opportunity to you, and look
forward to working with you. We are confident that you will contribute greatly to the success of Columbia Bank. 
 To formally accept this
offer of employment, please indicate so by signing below and returning this document to me by Monday, April 30, 2018. Meanwhile, as noted at the outset, please call me at 253- 396-6985 with any questions you may have. 
 Sincerely, 

 
  
 

 
  
  

Confidentiality: You shall keep the existence of this Agreement and all items hereof (including, without limitation, the amount of any
benefits received hereunder) strictly confidential. Please keep this Agreement in a secure, private location and use your best efforts to prevent this Agreement from being seen by others, including, without limitations, co-workers. 
 I, Greg Sigrist, accept the aforementioned offer of employment. I intend to start employment
with Columbia Bank effective no later than July 1, 2018, as determined by the Bank at its discretion. 
  

			
	 /s/ Greg Sigrist
	  	4-25-18
	Greg Sigrist	  	Date

  
 4

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