Document:

EX-10.19

 Exhibit 10.19 

ASSET ACQUISITION AGREEMENT 

THIS ASSET ACQUISITION AGREEMENT (the “Agreement”) is made
and entered into as of January 21, 2019, by and between: REPHARMATION INC., a Delaware corporation (“Acquiror”); GIRAFPHARMA LLC, a
Delaware limited liability company (“Transferor”); and David Hung (“Founder”). Capitalized terms used but not otherwise defined in this Agreement are defined in Exhibit A. Each of Acquiror and Transferor
is referred to individually as a “party” and collectively as the “parties”. 
 RECITALS

 WHEREAS, Transferor, Founder and Acquiror wish to provide for the acquisition of the Transferred Assets by Acquiror on
the terms, and subject to the conditions, set forth in this Agreement. 
 WHEREAS, the contributions of property by Transferor
and Founder contemplated by this Agreement, as described more fully described below are intended to be treated as a single interrelated transaction that qualifies as a transaction that qualifies for nonrecognition treatment as described in
Section 351(a) of the Code (the “Intended Tax Treatment”). 
 WHEREAS, concurrently with the execution
and delivery of this Agreement, the Key Employees have entered into non-competition agreements to be effective upon the Closing (each, a “Non-Competition
Agreement”). 
 WHEREAS, concurrently with the execution and delivery of this Agreement, Acquiror, RePharmation
Limited and SPARCBIO, are entering into a collaboration agreement (the “Collaboration Agreement”), which Collaboration Agreement shall be effective upon its execution by the parties thereto (the “Collaboration Agreement
Effective Date”). 
 AGREEMENT 

The parties and Founder, intending to be legally bound, agree as follows: 

SECTION 1. THE CONTRIBUTIONS AND INTENDED TAX TREATMENT;
CONTRIBUTION OF ASSETS; RELATED TRANSACTIONS. 
 1.1
The Contributions. As part of an integrated series of transactions: 
 (a) at the Closing, Transferor will contribute the
Transferred Assets to Acquiror, as described below in Section 1.3, in exchange for the Closing Shares and Cash Consideration (the “Transferor Contribution”); 

(b) at or near the time of Closing, and as a precondition to the contribution of the Transferred Assets by Transferor, Founder will
contribute, and Acquiror will ensure that Founder contributes, certain enumerated assets set forth on Schedule 1.1(b) (the “Founder Assets”), to Acquiror in exchange for a number of shares of Acquiror’s common stock, par
value $0.0001 per share (“Acquiror Common Stock”), which, when aggregated with the Closing Shares, and shares of Acquiror capital stock issued in the Financing, shall constitute “control” within the meaning of
Section 368(c) of the Code (the “Founder Contribution,” and together with the Transferor Contribution, the “Contributions”); 

(c) immediately after the Contributions and the Financing, Transferor, Founder and holders of Acquiror capital stock issued in the
Financing will own stock constituting “control” within the meaning of Section 368(c) of the Code; and 
  

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 (d) taking into account the Financing and the shares of Acquiror’s common stock
issued in connection therewith, the Contributions and the Financing are intended to constitute a single integrated transaction that qualifies for nonrecognition treatment pursuant to Section 351(a) of the Code. 

1.2 Intended Tax Treatment. Neither Transferor, Founder nor Acquiror has taken or agreed to take any action, and does not know
of any fact, agreement, plan or other circumstance, that would reasonably be expected to prevent, the Contributions from qualifying for the Intended Tax Treatment, provided that the foregoing shall not constitute any representation or
covenant by any party as to whether the structure and business terms of the Contributions and Financing meet the requirements for non-recognition of gain under Section 351(a) of the Code, and, subject to
the preceding provisions of this Section 1.2, each party shall rely on its own tax advisors to evaluate whether the Intended Tax Treatment applies. 

1.3 Contribution by Transferor of Transferred Assets. At the Closing, Transferor shall cause to be assigned, transferred,
conveyed and delivered to Acquiror, and Acquiror shall acquire and accept from Transferor, all of Transferor’s right, title and interest in and to the Transferred Assets, free of any Encumbrances, other than Permitted Encumbrances, on the terms
and subject to the conditions set forth in this Agreement. For purposes of this Agreement, “Transferred Assets” means the following: 

(a) the programs set forth on Schedule 1.3(a) (the “Programs”); 

(b) all of the Intellectual Property and Intellectual Property Rights that are owned by Transferor and that are Related to the
Programs, together with the associated goodwill, all of which are set forth on Schedule 1.3(b) (the “Transferred IP”); 

(c) all tangible assets that are owned by Transferor and that are Related to the Programs, all of which are set forth on Schedule
1.3(c); 
 (d) all books, records, files and data that are Related to the Programs; 

(e) all rights of Transferor under the Transferor Contracts identified on Schedule 1.3(e) (the “Transferred
Contracts”); 
 (f) all of the biological and chemical materials that are Related to the Programs; 

(g) all of the raw materials and supplies that are Related to the Programs; 

(h) all Regulatory Materials of Transferor that are Related to the Programs; all preclinical data, including raw data and all
statistical programs developed to analyze preclinical data, in each case that are Related to the Programs; all data contained in laboratory notebooks Related to the Programs or relating to the biology of the Programs; and all correspondence with
regulatory authorities Related to the Programs; 
 (i) without duplication with the items set forth in Section 1.3(i),
all Governmental Authorizations that are required by any Governmental Body to permit the conduct of the Programs; and 
 (j) all
claims (including claims for past infringement or misappropriation) of Transferor against other Persons relating to the Transferred IP or Transferred Contracts and all rights of indemnity, warranty rights, rights of contribution, rights to refunds,
rights of reimbursement and other rights of recovery possessed by Transferor relating to the Transferred IP or Transferred Contracts. 

  
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Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 1.4 Excluded Assets. Notwithstanding anything to the contrary contained in
this Agreement, the parties agree that Transferor is not assigning, transferring, conveying or delivering to Acquiror, and the Transferred Assets shall not include, any of the assets specifically identified on Schedule 1.4 (the
“Excluded Assets”). 
 1.5 Consideration. As consideration for the assignment, transfer, conveyance and
delivery of the Transferred Assets to Acquiror, Acquiror shall (a) at the Closing, (i) pay, or cause to be paid, to Transferor, by wire transfer of immediately available funds to an account designated by Transferor, an amount in cash equal
to the Cash Consideration and (ii) issue to Transferor the Closing Shares and (b) immediately prior to (but subject to the occurrence of) an IPO or Sale Event, subject to reduction for any resolved or pending indemnification claims
pursuant to Section 6, issue to Transferor the Subsequent Shares (if any) (provided, that, in the case of an IPO, at the request of Transferor, Acquiror will defer the issuance of such Subsequent Shares to a date
that is up to six months following the consummation of such IPO, it being understood that, in the case of such deferral, any applicable lock-up period will run from the date of the consummation of the IPO);
provided, however, that Transferor shall not be entitled to receive any Subsequent Shares if RePharmation Limited has terminated the Collaboration Agreement in accordance with its terms as a result of the material breach by SPARCBIO within
one year following the Collaboration Agreement Effective Date (collectively, the consideration described in this sentence and clauses (a) and (b) of the immediately preceding sentence, the “Consideration”). 

1.6 Liabilities. Acquiror will not assume, and Transferor shall retain, all Liabilities of Transferor, including the
following Liabilities of Transferor: (a) Liabilities that do not arise out of, or in connection with, or related to the Programs; (b) Liabilities under any Indebtedness; and (c) Liabilities for Excluded Taxes. For the avoidance of
doubt, Acquiror shall be liable for, and Transferor shall not be liable for and shall not retain, any Liabilities arising after the Closing Date from the use or operation of the Transferred Assets after the Closing Date. 

1.7 Closing. The closing of the contribution of the Transferred Assets to Acquiror, the Founder Contribution and the other
Transactions (the “Closing”) shall take place concurrently with the closing of the Financing. The date on which the Closing is held is herein referred to as the “Closing Date.” The Closing will be conducted remotely
via the electronic exchange of documents and signatures, unless another place is agreed to in writing by the parties. 
 1.8 Transaction
Taxes. 
 (a) All stamp, documentary, sales, use, value added, registration, property, excise, transfer or similar Taxes, charges
or fees (“Transfer Taxes”) that may become payable in connection with the conveyance and transfer of the Transferred Assets to Acquiror or otherwise in connection with the Transactions shall be paid fifty percent (50%) by Transferor
and fifty percent (50%) by Acquiror. Acquiror shall be responsible for filing any Tax Return relating to Transfer Taxes and Transferor agrees to cooperate with Acquiror in the filing of any such Tax Returns with respect to Transfer Taxes, including
promptly supplying any information in its possession that is reasonably necessary to complete such Tax Returns. 
 (b) Each of
Acquiror and Transferor shall reasonably cooperate, and shall cause their respective Affiliates to reasonably cooperate, with each other to lawfully minimize any Transfer Taxes. At Acquiror’s discretion, any such Transfer Taxes incurred by
Acquiror may be withheld from payments otherwise due pursuant to this Agreement. 
 1.9 Withholding. Acquiror shall be
entitled to deduct and withhold from all amounts payable pursuant to this Agreement all amounts that Acquiror is required to deduct and withhold under applicable Legal Requirements. To the extent such amounts are withheld and paid over to the
applicable Governmental Body, such amounts shall be treated for all purposes under this Agreement as having been paid to the Person to whom such amounts would otherwise have been paid. 

  
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Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 SECTION 2. REPRESENTATIONS AND WARRANTIES OF
TRANSFEROR 
 Transferor represents and warrants to Acquiror, subject to such exceptions as are specifically disclosed in
the disclosure schedule (referencing the appropriate section and subsection numbers) supplied by Transferor to Acquiror (the “Transferor Disclosure Schedule”) (it being understood that the disclosure set forth in each section and
subsection of the Transferor Disclosure Schedule shall qualify (a) the representations and warranties set forth in the corresponding section or subsection of this Section 2, (b) any exception or disclosure explicitly
cross-referenced to such part or subpart of the Transferor Disclosure Schedule by reference from another part or subpart of the Transferor Disclosure Schedule and (c) any other representations and warranties set forth in this
Section 2 if it is reasonably apparent based on the substance of such disclosure that the disclosure applies to such other representations and warranties), as follows: 

2.1 Company Status; Subsidiaries. 

(a) Transferor (i) is a limited liability company duly organized, validly existing and in good standing under the laws of the
state of Delaware, (ii) has all requisite company power and authority to carry on its business and (iii) is duly qualified to do business and is in good standing in each of the jurisdictions in which the ownership, operation or leasing of
its properties and assets and the conduct of its business requires it to be so qualified, licensed or authorized. True and complete copies of the certificate of formation, limited liability company agreement and other organizational documents of
Transferor, each as amended and in effect as of the date of this Agreement (the “Organizational Documents”) have been made available to Acquiror. There has not been any violation of any of the provisions of the Organizational
Documents and Transferor has not taken any action that is inconsistent in any material respect with any resolution adopted by the equityholders of Transferor, the board of directors (or equivalent) of Transferor or any committees thereof. 

(b) Transferor has no, and has never had any, Subsidiaries and Transferor does not own any capital stock of, or any equity interest of
any nature in, any other Entity. Transferor has not agreed and is not obligated to make, nor is it bound by any Contract under which it may become obligated to make, any future investment in or capital contribution to any other Entity. Transferor
has not, at any time, been a general partner of, nor has it otherwise been liable for any of the debts or other obligations of, any general partnership, limited partnership or other Entity. 

2.2 Authorization and Enforceability; No Conflict 

(a) Transferor has all necessary company power and authority to enter into this Agreement, to perform its obligations hereunder and to
consummate the Transactions. The execution and delivery of this Agreement by Transferor, the performance by Transferor of its obligations hereunder, and the consummation by Transferor of the Transactions, have been duly authorized by all necessary
action of the board of directors of Transferor (including unanimous approval of the board of directors of Transferor) and the members of Transferor, and no other corporate action on the part of Transferor is necessary to authorize the execution and
delivery of this Agreement by Transferor, the performance by Transferor of its obligations hereunder or the consummation by Transferor of the Transactions. This Agreement has been duly executed and delivered by Transferor and (assuming due
authorization, execution and delivery by Acquiror) constitutes a valid and binding obligation of Transferor, enforceable against Transferor in accordance with its terms, except as enforceability may be limited by or subject to (i) bankruptcy,
insolvency, reorganization, moratorium and other similar Legal Requirements relating to or affecting creditors’ rights generally or (ii) the effect of rules of Legal Requirements and general principles of equity,

  
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Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
including those governing specific performance, injunctive relief and other equitable remedies (regardless of whether such enforceability is considered in a proceeding in equity or at law) (the
“Enforceability Exception”). 
 (b) The execution and delivery of this Agreement, the performance by Transferor of
its obligations hereunder and the Ancillary Documents to which Transferor is a party, and the consummation by Transferor of the Transactions or the Ancillary Documents to which Transferor is a party, does not (i) conflict with, or result in any
violation of the Organizational Documents; (ii) conflict with or result in a violation of any material permit or Legal Requirement applicable to Transferor or its assets; or (iii) result in a material breach of, or constitute a material
default (or event which with the giving of notice or lapse of time, or both, would become a default) under, or give rise to any rights of termination, cancellation or acceleration of any obligation or to loss of a benefit under, or result in the
creation of any Encumbrance (excluding Permitted Encumbrances) upon any of the Transferred Assets or pursuant to any Transferor Contract that is a Transferred Contract. 

(c) No consent of, or registration, declaration, notice or filing with, any Governmental Authority is required to be obtained or made
by Transferor in connection with the execution, delivery and performance of this Agreement and the Ancillary Documents to which Transferor is a party or the consummation of the Transactions. 

2.3 Capitalization. The outstanding equity of Transferor is held by the Persons with the addresses set forth in
Part 2.3(a) of the Transferor Disclosure Schedule (the Persons set forth on Part 2.3(a) of the Transferor Disclosure Schedule, the “Equityholders”). The Equityholders collectively own all the
outstanding equity securities of Transferor. Except as needed to satisfy outstanding Liabilities of Transferor, no portion of the Consideration will be distributed by Transferor to any Person other than the Equityholders. 

2.4 Financial Statements; Solvency. 

(a) Transferor has delivered to Acquiror the following financial statements (collectively, the “Transferor Financial
Statements”): (a) the unaudited financial statements of Transferor as of and for the year ended December 31, 2017 and (b) the unaudited financial statements of Transferor as of and for the 11 months ended November 30, 2018.
The Transferor Financial Statements have been prepared in accordance with the books and records of Transferor and are accurate and complete in all material respects and fairly present in all material respects the financial position and operating
results of Transferor as of the respective dates thereof, and for the periods indicated therein. 
 (b) Transferor is not now
insolvent, nor will it be rendered insolvent by any of the Transactions. As used in this Section 2.4, “insolvent” means the debts and other probable Liabilities of an Entity exceed the sum of the present
fair saleable value of the assets of such Entity. Immediately after giving effect to the consummation of the Transactions: (i) Transferor will be able to pay its Liabilities as they become due in the usual course of its business; and
(ii) Transferor will have assets (calculated at fair market value) that exceed its Liabilities. 
 2.5 Absence of
Changes. Since January 1, 2018, there has not been, occurred or arisen any event, occurrence, development or state of circumstances or facts that has had or would reasonably be expected to have, individually or in the aggregate, any
material adverse effect on the Transferred Assets. 
 2.6 Title to Assets; Equipment. Transferor owns, and has good and valid
title to, all of the Transferred Assets. None of such Transferred Assets is subject to any Encumbrance (other than Permitted Encumbrances). Collectively with the services provided under certain Contracts, the benefits of which will

  
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Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
be provided by SPARCBIO to Acquiror under the Collaboration Agreement, the Transferred Assets collectively constitute all of the assets (other than Intellectual Property assets) used by
Transferor in the operation of the Programs and that are necessary for or used or reasonably contemplated for use, as of immediately prior to the Closing, in connection with the Programs. 

2.7 Intellectual Property. 

(a) Registered IP; In-Licensed IP. Part 2.7(a)(i) of the Disclosure Schedules
sets forth a true and complete list of all Transferred IP that is Registered IP, indicating for each such item, as applicable, the application or registration number, date and jurisdiction of filing or issuance, and the identity of the current
applicant or registered owner. Part 2.7(a)(ii) of the Disclosure Schedule accurately identifies (and Transferor has provided to Acquiror a complete and accurate copy of) all of the Contracts pursuant to which Transferor has in-licensed, or otherwise obtained rights to use or practice, any Intellectual Property or Intellectual Property Rights that are owned by a third party. 

(b) Ownership Free and Clear. Transferor exclusively owns all right, title, and interest to and in the Transferred IP free and
clear of any Encumbrances. All Transferred IP is valid, subsisting, and enforceable. The ownership of the entire right, title and interest in and to all Transferred IP that is Registered IP is
properly recorded with the applicable Governmental Body, in each country in which such recordings are permitted, solely in the name of Transferor. 

(c) Transferor Employees. All Transferor Employees who have contributed to the creation or development for Transferor of any
Transferred IP have executed and delivered to Transferor written agreements pursuant to which such individuals have assigned to Transferor all their rights in and to all Transferred IP they may conceive, reduce to practice, create or otherwise
develop in the course of their employment or engagement with Transferor, and, to Transferor’s Knowledge, no party thereto is in breach or default of any such Contract. No director, officer, stockholder, employee, consultant, contractor, agent
or other representative of Transferor or any Transferor Affiliate owns or, to Transferor’s Knowledge, claims any rights in (nor has any of them filed an application claiming any rights in) any Transferred IP. 

(d) Confidentiality. Transferor has taken commercially reasonable steps to maintain the confidentiality of and otherwise protect
and enforce their rights in all proprietary information pertaining to the Transferred IP. 
 (e) Sufficiency. The Transferred
IP includes all Intellectual Property and Intellectual Property Rights that are owned or in-licensed by Transferor or its Affiliates that are material to, necessary for or used or reasonably contemplated for
use, as of immediately prior to the Closing, in connection with the Programs; there are no other items of Intellectual Property or Intellectual Property Rights that are material to or necessary for the conduct of the Programs immediately after the
Closing. 
 (f) Third-Party Infringement of Transferred IP. To Transferor’s Knowledge, no Person has infringed,
misappropriated, or otherwise violated, and no Person is currently infringing, misappropriating, or otherwise violating, any Transferred IP. Part 2.7(f) of the Transferor Disclosure Schedule accurately identifies (and Transferor has provided
to Acquiror a complete and accurate copy of) each letter or other written or electronic communication or correspondence that has been sent or otherwise delivered by or to Transferor or any representative of Transferor regarding any actual, alleged,
or suspected infringement or misappropriation of any Transferred IP, and provides a brief description of the current status of the matter referred to in such letter, communication, or correspondence. 

  
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Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 (g) Effects of This Transaction. The consummation of the Transactions will not
adversely affect any of Transferor’s rights to any Transferred IP and all such Transferred IP will be owned or available for use by Acquiror on identical terms and conditions immediately subsequent to the consummation of the Transactions,
without the payment of any additional consideration in connection therewith. Neither the execution, delivery or performance of this Agreement nor the consummation of the Transactions will result in or give any other Person the right or option to
cause: (i) a loss of rights in or the creation of an Encumbrance on any Transferred IP; (ii) the release, disclosure or delivery of any Transferred IP by any escrow agent to any other Person; or (iii) the grant, assignment or transfer
to any other Person of any license, ownership interest or covenant-not-to-sue under, in or to any of the Transferred IP. 

(h) No Infringement of Third Party IP Rights. To Transferor’s Knowledge, the conduct of the Programs does not and has not
infringed upon, misappropriated, or otherwise violated or made unlawful use of any Intellectual Property rights of any third party. Transferor has not received any written charge, complaint, claim, demand, notice or other written communication
alleging any such infringement, misappropriation or violation. To Transferor’s Knowledge, the manufacture or sale of any compound synthesized or researched in any Program prior to the date of this Agreement, or currently contemplated to be
synthesized or researched in any Program, would not infringe any Intellectual Property rights of any third party (including any pending patent application if it were to issue with the published claims). 

(i) Governmental Bodies. No Governmental Body, educational institution or non-profit
entity has provided any funding to Transferor or any Transferor Affiliate for, or facilities or equipment used by Transferor in, the conception, reduction to practice, creation or development of any of the Transferred IP. No Governmental Body,
educational institution or non-profit entity claim or has a right to claim any ownership, right to practice or other interest in any of the Transferred IP. No employee, consultant, contractor, agent or other
representative of Transferor or any Transferor Affiliate who was involved in, or who contributed to, the conception, reduction to practice, creation or development of any of the Transferred IP was performing services for any Governmental Body,
educational institution or non-profit entity during the time such employee or contractor was providing services on behalf of or to Transferor.  

2.8 Contracts. 

(a) Part 2.8(a) of the Transferor Disclosure Schedule sets forth a complete and accurate list of all Transferor Contracts that
are Related to the Programs, as follows (each such Transferor Contract required to be disclosed in Part 2.8(a) of the Transferor Disclosure Schedule, a “Material Contract” and collectively, the “Material
Contracts”): 
 (i) any Contract containing an agreement of indemnification or guaranty; 

(ii) any Contract relating to capital expenditures; 

(iii) any Contract relating to the disposition or acquisition of assets or any interest in any business enterprise; 

(iv) any Contract evidencing Indebtedness; 

(v) any Contract granting to any third party any most favored nation pricing, exclusive sales, distribution, marketing, or other
exclusive rights, rights of refusal, rights of first negotiation, or similar rights or otherwise restricting the freedom of Transferor: (i) to compete with any other Person; 

  
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Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
(ii) to acquire any product or other asset or any services from any other Person, to sell any product or other asset to or perform any services for any other Person, or to transact business or
deal in any other manner with any other Person; or (iii) to develop or distribute any technology; 
 (vi) any dealer,
distribution, joint marketing, strategic alliance, affiliate or development agreement, any sales representative, original equipment manufacturer, manufacturing, value added reseller or independent software vendor or other agreement for use or
distribution of the products, technology or services of Transferor; 
 (vii) those Contracts listed in Part 2.7 of the
Transferor Disclosure Schedule; 
 (viii) any Contract with a Major Supplier; 

(ix) any Contract requiring payments by Transferor in excess of $25,000 in the current fiscal year; 

(x) any Transferred Contract providing for receipts by Transferor in excess of $25,000 in the current fiscal year; or 

(xi) any other Contract that is material to Transferor or that was entered into other than in the ordinary course of business. 

(b) Each Material Contract that is a Transferred Contract is a valid and binding agreement of Transferor, enforceable against
Transferor, and, to the Knowledge of Transferor, each of the other parties thereto in accordance with its terms. Transferor is in compliance with and has not breached, violated or defaulted under, or received notice that it has breached, violated or
defaulted under, any of the terms or conditions of any such Material Contract that is a Transferred Contract. True and complete copies of each Material Contract have been delivered to Acquiror. 

2.9 Compliance with Legal Requirements; Governmental Authorizations. 

(a) Transferor is, and has at all times been, in compliance in all material respects with each Legal Requirement that is applicable to
it or to the conduct of its business or the ownership or use of any of its assets. No event has occurred, and no condition or circumstance exists, that would reasonably be expected to (with or without notice or lapse of time) constitute or result
directly or indirectly in a violation by Transferor of, or a failure on the part of Transferor to comply with, any Legal Requirement. Transferor has not received, at any time, any notice or other communication (in writing or otherwise) from any
Governmental Body or any other Person regarding any actual, alleged, possible or potential violation of, or failure to comply with, any Legal Requirement. 

(b) The Governmental Authorizations held by Transferor are valid, in full force and effect and constitute all of the Governmental
Authorizations necessary to enable Transferor to conduct its business in the manner in which such business is currently being conducted. Transferor is and has at all times been in compliance in all material respects with all of the terms and
requirements of each such Governmental Authorization, and no event has occurred that would reasonably be expected to (with or without notice or lapse of time) result in a violation of any requirement of any such Governmental Authorization, or result
in the termination or modification of any such Governmental Authorization. 

  
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Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 (c) Transferor is, and has at all times been, in compliance in all material respects
with all Legal Requirements relating to the export, re-export, import and transfer of products, commodities, services and technology from the jurisdiction of one Governmental Body to another. 

(d) Neither Transferor, and (to the Knowledge of Transferor) no director, officer, agent or employee of Transferor, has (a) used
any funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating to political activity, (b) made any unlawful payment to foreign or domestic government officials or employees or to foreign or domestic political
parties or campaigns or violated any provision of any anti-corruption law, including the Foreign Corrupt Practices Act of 1977, as amended, or (c) made any other unlawful payment. 

2.10 Tax Matters. There are no security interests or other liens on any of the Transferred Assets as a result of any failure (or
alleged failure) to pay any Tax, other than Permitted Encumbrances. 
 2.11 Suppliers. Part 2.11 of the Transferor
Disclosure Schedule lists the 10 largest suppliers (measured by invoiced dollars) of Transferor for the year ended December 31, 2017 and for the year ended December 31, 2018 (“Major Suppliers”) and the dollar amount of
business conducted with each Major Supplier in such years. 
 2.12 Benefit Plans. Part 2.12 of the Transferor
Disclosure Schedule identifies each Transferor Employee Plan. Each Transferor Employee Plan is being and has at all times been operated and administered in compliance with the provisions thereof. There are no claims or Legal Proceedings pending, or,
to the Knowledge of Transferor, threatened or reasonably anticipated, against any Transferor Employee Plan or against the assets of any Transferor Employee Plan. 

2.13 Environmental Matters. Transferor possesses all permits and other Governmental Authorizations required to be held by
Transferor under applicable Environmental Laws, and is in compliance in all material respects with the terms and conditions thereof. Transferor has not received any notice or other communication (in writing or otherwise), whether from a Governmental
Body, citizens group, employee or otherwise, that alleges that Transferor is not in compliance with any Environmental Law. To the Knowledge of Transferor, (a) all property that is leased to, controlled by or used by Transferor, and all surface
water, groundwater and soil associated with or adjacent to such property, is free of any material environmental contamination of any nature, (b) none of the property leased to, controlled by or used by Transferor contains any underground
storage tanks, asbestos, equipment using PCBs, underground injection wells, and (c) none of the property leased to, controlled by or used by Transferor contains any septic tanks in which process wastewater or any Materials of Environmental
Concern have been disposed of. 
 2.14 Insurance. Part 2.14 of the Transferor Disclosure Schedule identifies each
insurance policy maintained by, at the expense of or for the benefit of Transferor and identifies any claims (including any workers’ compensation claims) made thereunder. Each insurance policy identified in Part 2.14 of the Transferor
Disclosure Schedule is in full force and effect. Transferor has not received any notice or other communication (in writing) regarding any actual or possible (a) cancellation or invalidation of any insurance policy, (b) refusal of any
coverage or rejection of any claim under any insurance policy, or (c) material adjustment in the amount of the premiums payable with respect to any insurance policy. 

2.15 Regulatory Matters. 

(a) Transferor has obtained, and is in compliance with, all clearances, authorizations, licenses, permits, approvals, waivers,
accreditations, exemptions and registrations required by any Governmental Body to be held by Transferor to permit the conduct of the Programs. Transferor has 

  
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Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
complied in all material respects with all of the applicable requirements of any applicable Governmental Body and under applicable Legal Requirements, including making all required filings,
declarations, listings, registrations, notifications, certifications, reports or submissions. All such filings, declarations, listings, registrations, reports or submissions were in compliance with applicable Legal Requirements when filed, and no
deficiencies have been asserted against Transferor by any applicable Governmental Body with respect to any clearances, authorizations, licenses, approvals, waivers, accreditations, registrations, filings, declarations, listing, registrations,
notifications, certifications, reports, submissions, or other matters. 
 (b) To Transferor’s Knowledge, all preclinical
investigations and trials sponsored by Transferor as part of the Programs have been and are being conducted in compliance in all material respects with applicable Legal Requirements and Guidance. Transferor has not received any written notices from
any Governmental Body or any oversight body with respect to any preclinical studies or tests relating to the Programs. 
 (c)
Transferor has not, with respect to the Transferred Assets, (i) made an untrue statement of a material fact or fraudulent statement to the FDA or any other Governmental Body or (ii) failed to disclose a material fact required to be
disclosed to the FDA or any other Governmental Body. 
 (d) Transferor has made available to Parent all Regulatory Materials in
Transferor’s possession or control that relate to the Transferred Assets. To Transferor’s Knowledge, all Regulatory Materials relating to the Programs are correct and complete in all material aspects. 

2.16 Legal Proceedings; Orders. There are no, and since inception there have not been, any Legal Proceedings pending by or
against or, to the Knowledge of Transferor, threatened against, Transferor or any officer or director of Transferor in his or her capacity as such. No event has occurred that would reasonably be expected to give rise to or serve as a basis for the
commencement of any such Legal Proceeding. Transferor is not, and since inception, has not been, subject to any Order that restricts the activities of the business. There is no Legal Proceeding pending by Transferor or that Transferor intends to
initiate against any other Person relating to the Transferred Assets. 
 2.17 Financial Advisor. No broker, finder or
investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the Transactions based upon arrangements made by or on behalf of Transferor. 

2.18 Securities Act. Transferor is an accredited investor within the meaning of Regulation D under the Securities Act. 

SECTION 3. REPRESENTATIONS AND WARRANTIES OF ACQUIROR 

Acquiror represents and warrants to Transferor as follows: 

3.1 Due Organization. Acquiror (a) is a corporation duly incorporated, validly existing and in good standing under the laws
of the state of Delaware, (b) has all requisite corporate power and authority to carry on its business and (c) is duly qualified to do business and is in good standing in each of the jurisdictions in which the ownership, operation or
leasing of its properties and assets and the conduct of its business requires it to be so qualified, licensed or authorized. 
 3.2
Authority; Binding Nature of Agreement. Acquiror has the corporate power and authority to enter into and to perform its obligations under this Agreement and under each Ancillary Document to which it is or will be a party; and the execution,
delivery and performance by Acquiror of this Agreement and of each such Ancillary Document have been duly authorized by all necessary corporate 

  
 10 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
action by the board of directors of Acquiror and the stockholders of Acquiror. Assuming the due authorization and execution by the other parties hereto and thereto, this Agreement and each
Ancillary Document to which Acquiror is or will be a party constitutes the legal, valid and binding obligation of Acquiror, enforceable against Acquiror in accordance with its terms, subject to the Enforceability Exception. 

3.3 Non-Contravention; Consents. Neither the execution, delivery or performance of this
Agreement by Acquiror or any of the Ancillary Documents to which Acquiror is or will be a party nor the consummation by Acquiror of the Transactions will (with or without notice or lapse of time): contravene, conflict with or result in a violation
of (a) any of the provisions of the certificate of incorporation or bylaws of Acquiror, (b) any resolution adopted by the stockholders, the board of directors or any committee of the board of directors of Acquiror or (c) or any
material agreement or instrument by which Acquiror is bound or to which Acquiror’s properties or assets are subject. No consent of, or registration, declaration, notice or filing with, any Governmental Authority is required to be obtained or
made by Acquiror in connection with the execution, delivery and performance of this Agreement and the Ancillary Documents to which Acquiror is a party or the consummation of the Transactions. 

3.4 Valid Issuance. The Shares, when issued and delivered in accordance with the terms of this Agreement, will be duly and
validly issued, fully paid and nonassessable. 
 3.5 Legal Proceedings. There are no, and since inception there have not been,
any Legal Proceedings pending by or against or, to the actual knowledge of Acquiror, threatened against, Acquiror or any officer or director of Transferor in his or her capacity as such. Acquiror is not, and since inception, has not been, subject to
any Order that restricts the activities of the business of Acquiror. 
 3.6 Acquiror Liabilities. Other than Liabilities
relating to this Agreement, the Contributions, the Financing, the proposed convertible note financing, and the incorporation of Acquiror, Acquiror has neither conducted any business nor incurred any material Liabilities. 

3.7 Acquiror Capitalization. 

(a) As of the date hereof, the authorized capital stock of Acquiror consists of 20,000,000 shares of Acquiror Common Stock, of which
10,000,000 shares are issued and outstanding. As of the date hereof, all of the issued and outstanding shares of Acquiror Common Stock are held beneficially and of record by Founder (such shares, the “Original Founder Shares”). 

(b) Immediately following the consummation of the Financing, the only shares of capital stock of Acquiror that will be issued and
outstanding will be shares of Acquiror Common Stock held by Transferor, Founder and (directly or indirectly) certain of the investors in the Financing and shares of the Acquiror’s Series A preferred stock held by investors in the Financing,
including Founder, and there will not be any issued and outstanding shares of non-voting capital stock of Acquiror. 

SECTION 4. COVENANTS OF THE PARTIES 

4.1 Further Actions. From and after the Closing, Transferor shall reasonably cooperate with Acquiror and its Representatives and
shall execute and deliver such documents and take such other actions as Acquiror may reasonably request for the purpose of evidencing the Transactions and putting Acquiror in possession and control of all of the Transferred Assets. To the extent
that the parties have been unable to obtain any Consent that Acquiror reasonably deems necessary be obtained for the transfer to Acquiror of any of the Transferred Assets by the Closing: (a) such Transferred Asset (a “Specified
Asset”) shall not be assigned or transferred to Acquiror until such time as such Consent is obtained; and (b) for a period of 

  
 11 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
one year following the Closing, Transferor and Acquiror shall cooperate with one another to obtain such Consent as promptly as practicable thereafter. Until such Consent is obtained, Transferor
shall use commercially reasonable efforts to preserve such Specified Asset and shall cooperate, and shall use its reasonable efforts to cause its Representatives to cooperate, with Acquiror in any lawful arrangement designed to provide Acquiror with
the benefits of such Specified Assets at no cost to the Acquiror in excess of the cost Acquiror would have incurred (without modification to the terms of any Contract) if the Consent had been obtained. If a required Consent with respect to a
Specified Asset is obtained after the Closing Date, the Specified Asset subject to such Consent shall be deemed to have been assigned and transferred to Acquiror as of the date such Consent is effective (and all references in
Section 1.4(a) to the Closing Date shall be deemed to be the effective date of such Consent with respect to such Specified Asset). Transferor hereby irrevocably nominates, constitutes and appoints Acquiror as the true and
lawful attorney-in-fact of Transferor (with full power of substitution) effective as of the Closing, and hereby authorizes Acquiror, in the name of and on behalf of
Transferor, to execute, deliver, acknowledge, certify, file and record any document, to institute and prosecute any Proceeding and to take any other action (on or at any time after the date of this Agreement) that Acquiror may deem appropriate for
the purpose of: (i) collecting, asserting, enforcing or perfecting any claim, right or interest of any kind that is included in or relates to any of the Transferred Assets; (ii) defending or compromising any Legal Proceeding relating to
any of the Transferred Assets; or (iii) otherwise carrying out or facilitating any of the Transactions. The power of attorney referred to in the preceding sentence is and shall be coupled with an interest and shall be irrevocable, and shall
survive the dissolution or insolvency of Transferor. 
 4.2 Taxes. 

(a) Acquiror and Transferor shall, both prior to and following the Closing, cooperate with the other parties, and use their reasonable
best efforts, to cause the Contributions to qualify for the Intended Tax Treatment, including by reasonably refraining from any action that such party knows, or is reasonably expected to know, is reasonably likely to prevent the Intended Tax
Treatment. Each of Transferor and Acquiror agrees to (and Acquiror agrees to cause Founder to) (i) retain all books and records with respect to Tax matters pertinent to the Transferred Assets and Founder Assets relating to any Pre-Closing Tax Period, and to abide by all record retention agreements entered into with any taxing authority and (ii) to give Acquiror reasonable written notice prior to destroying or discarding any such
books and records and, if Acquiror so requests, shall allow Acquiror to take possession of such books and records. 
 (b) All real
property taxes, personal property taxes and similar ad valorem obligations levied with respect to the Transferred Assets or for the Founder Assets for a Straddle Period shall be apportioned between Acquiror and Transferor (with respect to the
Transferred Assets and Founder Assets) as of the Closing based on the number of days of such taxable period ending on the date of the Closing (each such portion of such taxable period, a “Pre-Closing
Tax Period”) and the number of days of such taxable period after the Closing (each such portion of such taxable period, a “Post-Closing Tax Period”). Transferor or Founder, as the case may be, shall be liable for the
proportionate amount of such Taxes that is attributable to the Pre-Closing Tax Period, and Acquiror shall be liable for the proportionate amount of such Taxes that is attributable to the Post-Closing Tax
Period. Upon receipt of any bill for real or personal property Taxes relating to the Transferred Assets, the relevant party shall present a statement to the other setting forth the amount of reimbursement to which each is entitled under this
Section 4.2(b) together with such supporting evidence as is reasonably necessary to calculate the proration amount. The proration amount shall be paid by the party owing it to the other within 20 days after delivery of such
statement. In the event that Transferor, Founder, or Acquiror shall make any other payment for which it is entitled to reimbursement under this Section 4.2(b), the other relevant party shall make such reimbursement promptly
but in no event later than 20 days after the presentation of a statement setting forth the amount of reimbursement to which the presenting party is entitled along with such supporting evidence as is reasonably necessary to calculate the amount of
reimbursement. 

  
 12 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 4.3 Continuing Access to Information. Following the Closing, Transferor shall
give Acquiror and its Representatives reasonable access during normal business hours and upon reasonable prior notice to (and shall allow Acquiror and its Representatives to make copies of) any books and records relating to the Transferred Assets
that are not acquired by Acquiror hereunder for any reasonable purpose. 
 4.4 Publicity. Acquiror agrees that, at all times
prior to the Closing, no press release or other publicity concerning any of the Transactions shall be issued or otherwise disseminated by it or on its behalf without Transferor’s prior written consent. Transferor agrees that, at all times:
(a) no press release or other publicity concerning any of the Transactions shall be issued or otherwise disseminated by it or on its behalf without Acquiror’s prior written consent; and (b) it shall continue to keep the terms of this
Agreement and the Ancillary Documents strictly confidential; provided, however, (i) Transferor may disclose publicly-available information regarding the Transactions at conferences, events and the like and (ii) that the existence
and terms of this Agreement and the Ancillary Documents may be disclosed to the extent required by Legal Requirements; provided, that, before making such a disclosure, Transferor first notifies Acquiror and gives Acquiror an opportunity to
limit such disclosure or seek a protective order and cooperates with Acquiror as reasonably requested. 
 4.5 Non-Competition. Transferor and each Transferor Affiliate agrees that, from the Closing Date until the fifth anniversary of the Closing, Transferor shall not, in any way, directly, indirectly, individually or
through any other Person, or for the benefit of any other Person, without the prior written consent of Acquiror, in each instance, which Acquiror may withhold or condition in its sole and absolute discretion, it being understood that Acquiror will
respond to any request from Transferor for such written consent within a reasonable period of time, own, manage, operate, control or participate in the ownership, management, operation, control of, or consult with or perform services for, or be
connected in any manner with (whether as principal, agent, employee, employer, investor, consultant, shareholder, partner, member, financier or in any other individual or representative capacity of any kind whatsoever), any Competitive Business
anywhere in the world. 
 4.6 Legends; Transfer Restrictions. Each certificate representing any Shares shall bear the
following legends (in addition to any other legends required by applicable Legal Requirements, the organizational documents of Acquiror or any other applicable Contract to which the holder of such Shares becomes a party): 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS.
THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL TO
THE HOLDER (IF REQUESTED BY PARENT), IN A FORM REASONABLY ACCEPTABLE TO PARENT, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO (1) RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A LOCK¬UP PERIOD
IN THE EVENT OF A PUBLIC OFFERING, AS SET FORTH IN AN ASSET ACQUISITION AGREEMENT BETWEEN TRANSFEROR AND PURCHASER AND (2) VOTING RESTRICTIONS AS SET FORTH IN A VOTING AGREEMENT ENTERED INTO 

  
 13 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
BY THE HOLDER OF THESE SHARES, PURCHASER AND CERTAIN STOCKHOLDERS OF THE COMPANY, COPIES OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF TRANSFEROR. SUCH
LOCK-UP RESTRICTIONS AND VOTING OBLIGATIONS ARE BINDING ON TRANSFEREES OF THE SHARES. 
 THE SHARES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AND MAY ONLY BE SOLD, PLEDGED, DISPOSED OF OR OTHERWISE TRANSFERRED IN COMPLIANCE WITH CERTAIN RIGHTS OF FIRST REFUSAL AND RIGHTS OF CO-SALE AS SET FORTH IN A
RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT ENTERED INTO BY THE HOLDER OF THESE SHARES, THE COMPANY AND CERTAIN STOCKHOLDERS OF THE COMPANY. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF
ACQUIROR. SUCH RIGHTS OF FIRST REFUSAL AND RIGHTS OF CO-SALE ARE BINDING ON TRANSFEREES OF THE SHARES. 

Transferor shall not sell, pledge, transfer or distribute any Shares prior to the first anniversary of the Closing and, thereafter, only in
compliance with applicable Legal Requirements, the organizational documents of Acquiror and any applicable Contract to which the holder of the Shares becomes a party and only to the extent that any such transferee agrees to be bound by the
obligations set forth in Section 4.6 and Section 4.7. Before any proposed sale, pledge, transfer or distribution of any Shares, unless there is in effect a registration statement under the
Securities Act covering the proposed transaction, Transferor and any subsequent holder of the Shares shall give notice to Acquiror of such holder’s intention to effect such sale, pledge, transfer or distribution. Each such notice shall describe
the manner and circumstances of the proposed sale, pledge, transfer or distribution in sufficient detail and, if reasonably requested by Acquiror, shall be accompanied at such holder’s expense by either (a) a written opinion of legal
counsel who shall, and whose legal opinion shall, be reasonably satisfactory to Acquiror, addressed to Acquiror, to the effect that the proposed transaction may be effected without registration under the Securities Act; or (b) any other
evidence reasonably satisfactory to counsel to Acquiror to the effect that the proposed sale, pledge, transfer or distribution of the Shares may be effected without registration under the Securities Act. Acquiror will not require such a legal
opinion in any transaction in compliance Securities and Exchange Commission Rule 144; provided, that, each transferee agrees in writing to be subject to the terms of Section 4.6 and
Section 4.7. 
 4.7 Restriction on Issuance of Shares by Acquiror. After the Closing
until six months following the Closing, without the prior written consent of Transferor, Acquiror shall not issue any equity securities other than (a) Permitted Securities and (b) securities issued in connection with the Financing,
including with respect to subsequent closings of the Finaning or extensions of the existing Financing round. 
 4.8 Financing
Updates. Until the Closing, Acquiror will keep Transferor reasonably apprised of any material developments relating to the Financing and will provide Transferor with copies of drafts of the material financing documents (including the Financing
Documents) in reasonable increments. 
 4.9 Non-Solicitation. Acquiror agrees that,
from the Closing Date until the fifth anniversary of the Closing Date, Acquiror shall not, and shall cause each of its Affiliates not to, directly or indirectly through any Person or contractual arrangement, (a) solicit for employment or hire
any Person who is an employee of Transferor or (b) induce or encourage any officer or employee of Transferor to terminate his or her employment with Transferor; provided, that, the foregoing shall not prohibit (i) a general
solicitation to the public through general advertising or similar methods of solicitation not specifically directed at employees of Transferor or (ii) the solicitation or hiring of any employee of Transferor six months following such
person’s termination by the Company or voluntary resignation as an employee of the Company. 

  
 14 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 SECTION 5. CLOSING DELIVERABLES. 

5.1 Closing Deliverables of Transferor. At the Closing, Transferor shall deliver, or cause to be delivered, the following to
Acquiror: 
 (a) a completed and properly executed IRS Form W-9 (or the appropriate version
of IRS Form W-8 (as and if applicable)) from Transferor; 
 (b) a good standing certificate
from the Secretary of State of the State of Delaware, as well as any State in which Transferor is qualified to do business; 
 (c)
counterpart signature page to each of the Financing Documents, duly executed by Transferor; 
 (d) each of the Consents identified in
Part 2.2(c) of the Transferor Disclosure Schedule, which Consents shall be in full force and effect; 
 (e) counterpart
signature to a contribution and assignment and assumption agreement (the “Transfer Agreement”); 
 (f) evidence
reasonably satisfactory to Acquiror that any Transferred Assets that were held by SPARCBIO have been transferred to Transferor; and 

(g) such bills of sale, endorsements, assignments and other documents as may (in the reasonable judgment of Acquiror) be necessary or
appropriate to: (i) assign, convey, transfer and deliver to Acquiror good and valid title to the Transferred Assets free and clear of any Encumbrances, other than Permitted Encumbrances; and (ii) otherwise facilitate the consummation or
performance of any of the Transactions. 
 5.2 Closing Deliverables of Acquiror. At the Closing, Acquiror shall deliver, or
cause to be delivered, the following to Transferor: 
 (a) the Cash Consideration by wire transfer to an account designated by
Transferor; 
 (b) certificates or other evidence confirming the issuance of the Closing Shares issued in the name of Transferor;

 (c) counterpart signature page of the Transfer Agreement, duly executed by Acquiror; 

(d) counterpart signature page to each of the Financing Documents, duly executed by Acquiror; 

(e) a good standing certificate from the Secretary of State of the State of Delaware, as well as any State in which Transferor is
qualified to do business; and 
 (f) a certificate of the Secretary of Acquiror, dated as of the Closing Date, certifying that the
closing of the Financing has occurred and attaching (i) copies of the duly executed principal definitive documentation entered into in connection with the Financing (including the Certificate of Incorporation of Acquiror and the Financing
Documents) and (ii) a reasonably detailed capitalization table of Acquiror, after giving effect to the Financing. 

  
 15 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 SECTION 6. INDEMNIFICATION, ETC.  
 6.1 Survival of Representations, Exclusive Remedy, Etc. 

(a) All representations and warranties of Transferor and Acquiror set forth in this Agreement shall expire on the first anniversary of
the Closing; provided, however, that (i) the Specified Representations (other than the Tax Representations) shall survive indefinitely and (ii) the Tax Representations shall survive until 90 days following the expiration of the
applicable statute of limitations, including any extensions. If, at any time on or prior to the expiration of a representation or warranty, any Indemnitee (acting in good faith) delivers to Transferor or Acquiror, as applicable, a Notice of
Indemnification Claim alleging the existence of an inaccuracy in or a breach of any of such representations or warranties and asserting a claim for recovery under Section 6.2 based on such inaccuracy or breach, then the
claim asserted in such Notice of Indemnification Claim shall survive until such time as such claim is fully and finally resolved. All covenants of the parties shall survive until performed. 

(b) All indemnification payments made under this Agreement shall be treated by the parties as an adjustment to the consideration paid
hereunder for Tax purposes, unless otherwise required by applicable Legal Requirements. 
 (c) Except in the case of actual fraud
(“Fraud”), claims for indemnification, compensation and reimbursement brought in accordance with and subject to this Section 6 shall be the sole and exclusive remedy of any Indemnitee for monetary damages
from and after the Closing with respect to this Agreement. Without limiting the foregoing, Acquiror and Transferor each hereby waives (and, by their acceptance of the benefits under this Agreement, each Indemnitee hereby waives), from and after the
Closing, any and all rights, claims and causes of action (other than claims of, or causes of action arising from, Fraud) such party may have against any other party arising under or based upon this Agreement, and no Legal Proceeding sounding in
tort, statute or strict liability may be maintained by any party (other than a Legal Proceeding brought solely to enforce the terms of this Agreement or pursuant to the provisions of this Section 6). Without limiting the
generality of the foregoing, nothing contained in this Agreement shall limit the rights of any Indemnitee to seek or obtain injunctive relief or any other equitable remedy to which such Indemnitee is otherwise entitled. 

6.2 Indemnification by Transferor. From and after the Closing, Transferor shall hold harmless and indemnify each of the Acquiror
Indemnitees from and against, and shall compensate and reimburse each of the Acquiror Indemnitees for, any Damages that are suffered or incurred by any of the Acquiror Indemnitees or to which any of the Acquiror Indemnitees may otherwise become
subject (regardless of whether or not such Damages relate to any third-party claim) and that arise from or as a result of: 
 (a) any
inaccuracy in or breach of any representation or warranty of Transferor set forth in this Agreement or the Transfer Agreement; 
 (b)
any breach of any covenant or obligation of Transferor or any Transferor Affiliate set forth in this Agreement; 
 (c) any Retained
Liability; 
 (d) any Fraud on the part of Transferor in connection with or relating directly or indirectly to (i) the
negotiation, execution, delivery or performance of this Agreement and (ii) any of the Transactions; 

  
 16 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 (e) (i) the conduct of the Programs infringes or has infringed upon, misappropriated,
or otherwise violated or made unlawful use of any Intellectual Property rights of any third party or (ii) the manufacture or sale of any compound synthesized or researched in any Program prior to the date of this Agreement, or currently
contemplated to be synthesized or researched in any Program, infringes any Intellectual Property rights of any third party (including any pending patent application if it were to issue with the published claims); or 

(f) any Legal Proceeding or other action commenced by any Acquiror Indemnitee for the purpose of enforcing any of its rights under this
Section 6.2 to the extent such Acquiror Indemnitee is successful in enforcing such rights in such Legal Proceeding or other action. 

6.3 Indemnification by Acquiror. From and after the Closing, Acquiror shall hold harmless and indemnify each of the
Transferor Indemnitees from and against, and shall compensate and reimburse each of the Transferor Indemnitees for, any Damages that are suffered or incurred by any of the Transferor Indemnitees or to which any of the Acquiror Indemnitees may
otherwise become subject (regardless of whether or not such Damages relate to any third-party claim) and that arise from or as a result of: 

(a) any inaccuracy in or breach of any representation or warranty of Acquiror set forth in this Agreement; 

(b) any breach of any covenant or obligation of Acquiror or Founder set forth in this Agreement; 

(c) any Fraud on the part of Acquiror in connection with or relating directly or indirectly to (i) the negotiation, execution,
delivery or performance of this Agreement and (ii) any of the Transactions; or 
 (d) any Legal Proceeding or other action
commenced by any Transferor Indemnitee for the purpose of enforcing any of its rights under this Section 6.3 to the extent such Acquiror Indemnitee is successful in enforcing such rights in such Legal Proceeding or other
action. 
 6.4 Certain Limitations. 

(a) Except in the case of Fraud or breach of any Specified Representation, no Acquiror Indemnitee shall be entitled to indemnification
pursuant to Section 6.2(a) or Section 6.2(e), and no Transferor Indemnitee shall be entitled to indemnification pursuant to Section 6.3(a), unless and until the aggregate
Damages under such Sections (on a combined basis) or Section, as applicable, exceeds $150,000 (the “Deductible Amount”). If the total amount of such Damages exceeds the Deductible Amount, then the Acquiror Indemnitees or Transferor
Indemnitees, as applicable, shall be entitled to be indemnified against and compensated and reimbursed only for the amount of such Damages exceeding the Deductible Amount, subject to Section 6.4(b). 

(b) Except in the case of Fraud, the maximum amount of Damages that the Indemnitees shall be entitled to recover in respect of an
indemnification claim pursuant to Section 6.2(a) or Section 6.2(e), on a combined basis, or Section 6.3(a), as applicable, shall be $1,875,000; provided, that,
(i) the foregoing shall not apply with respect to any breach of the Specified Representations and (ii) the sole source of recovery of the Acquiror Indemnitees shall be by setoff against the Shares. 

  
 17 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 (c) Except in the case of Fraud, the maximum amount of Damages that the Acquiror
Indemnitees shall be entitled to recover in respect of an indemnification claim pursuant to Section 6.2(a) that relates to a breach or inaccuracy of the Specified Representations shall be by setoff against the Closing
Shares. Except in the case of Fraud, the maximum amount of Damages that the Indemnitees shall be entitled to recover in respect of an indemnification claim pursuant to Section 6.3(a) that relates to a breach or inaccuracy
of the Specified Representations shall be $15,000,000. 
 (d) Any claim pursuant to Section 6.2(e) must be
made on or prior to the first anniversary of the date of this Agreement. In the event a claim is made pursuant to Section 6.2(e) on or prior to the first anniversary of the date of this Agreement, such claim shall survive
until such time as such claim is fully and finally resolved. 
 (e) Solely for the purposes of this
Section 6, the value of each Share shall be equal to the greater of (i) the Deemed Value and (ii) the fair market value of one share of Series A Preferred Stock of Acquiror (as determined by the Board of Directors
of Acquiror in its reasonable discretion) at the time of the satisfaction of the relevant indemnified claim. Upon determination in accordance with this Agreement for Transferor to satisfy any indemnification claim by setoff against the Shares,
Transferor shall take all reasonable action requested by Acquiror to effect the cancellation of the applicable portion of such Shares, including returning the stock certificate evidencing the Shares to Acquiror (and Acquiror shall deliver to
Transferor a new stock certificate representing the remaining shares). Notwithstanding the foregoing, upon determination in accordance with this Agreement that an Acquiror Indemnitee is entitled to recover Shares, Acquiror shall be entitled to
cancel on its books any stock certificate evidencing the applicable portion of such shares and, upon such cancellation, such shares shall cease to be outstanding. Acquiror may satisfy the payment of Damages through any combination of the payment of
cash or issuance of shares of common stock of Acquiror, as Acquiror elects. 
 (f) Solely for purposes of calculating the amount of
Damages in connection with any indemnifiable matter (but not for determining whether any inaccuracy or breach has occurred), (i) all qualifications and limitations as to materiality and words of similar import set forth in this Agreement will be
disregarded and (ii) such Damages shall be computed net of any amounts actually recovered by Acquiror Indemnitee or any of its Affiliates under any insurance policy with respect to such Damages (net of any out-of-pocket costs of investigation of the underlying claim and collection, including attorney fees, and any deductibles and increased premiums); provided, however, that no Acquiror Indemnitee or
Transferor Indemnitee shall have any obligation to seek such insurance proceeds. 
 (g) The Acquiror Indemnitees and the Transferor
Indemnitees shall each use commercially reasonable efforts to mitigate Damages to the extent consistent with the common law doctrine of mitigation and the costs of such mitigation shall be included as Damages. 

(h) Notwithstanding the foregoing, nothing in this Agreement shall limit the rights or remedies of any Indemnitee against any party, or
the liability of any party, for a breach by such party of any provision of any agreement (other than this Agreement) executed and delivered by such party in connection with the Transactions. 

(i) Any Damages under this Agreement shall be determined without duplication of recovery by reason of the state of facts giving rise to
such Damages constituting a breach of more than one representation, warranty, covenant or agreement, or of more than one indemnification provision in Section 6.2 or Section 6.3. 

  
 18 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 6.5 Defense of Third Party Claims. In the event of the assertion or
commencement by any Person of any claim or Legal Proceeding with respect to which any Indemnitee may be entitled to be held harmless, indemnified, compensated or reimbursed pursuant to this Section 6, (a) the Indemnitee
shall notify Acquiror or Transferor, as applicable (as applicable, the “Indemnifying Party”), promptly after the Indemnitee receives written notice of such claim or Legal Proceeding (it being understood that any failure by the
Indemnitee to so notify the Indemnifying Party shall have no effect on an Indemnitee’s ability to recover Damages pursuant to this Section 6 to the extent such failure is not prejudicial), (b) the Indemnitee shall have
the right, at its election, to proceed with and control the defense of such claim or Legal Proceeding; and (c) the Indemnifying Party shall be entitled, at its expense, to participate in any defense of such claim or Legal Proceeding. If the
Indemnitee so proceeds with the defense of any such claim or Legal Proceeding: (i) all reasonable fees and expenses relating to the defense of such claim or Legal Proceeding shall constitute Damages, subject to the limitations and other
provisions in Section 6; (ii) the Indemnifying Party shall make available to the Indemnitee any documents and materials that the Indemnitee determines in good faith may be necessary to the defense of such claim or Legal
Proceeding; and (ii) the Indemnitee shall have the right to settle, adjust or compromise such claim or Legal Proceeding; provided, however, that if the Indemnitee settles, adjusts or compromises any such claim or Legal Proceeding without
the consent of the Indemnifying Party, such settlement, adjustment or compromise shall not be conclusive evidence of the amount of Damages incurred by the Indemnitee in connection with such claim or Legal Proceeding (it being understood that if the
Indemnitee requests that the Indemnifying Party consent to a settlement, adjustment or compromise, the Indemnifying Party shall not unreasonably withhold, condition or delay such consent). 

6.6 Indemnification Claims. 

(a) If any Indemnitee has incurred or suffered or claims to have incurred or suffered, or believes that it may incur or suffer, Damages
for which it is or may be entitled to be held harmless, indemnified, compensated or reimbursed under this Section 6, such Indemnitee may deliver a notice to the Indemnifying Party (any such notice being referred to as a
“Notice of Indemnification Claim,” and the claim for indemnification, compensation and reimbursement described in such Notice of Indemnification Claim being referred to as an “indemnification claim”), which shall
(i) state that such Indemnitee believes that that there is or has been an inaccuracy in or breach of a representation, warranty, covenant or obligation contained in this Agreement or that such Indemnitee is otherwise entitled to be held
harmless, indemnified, compensated or reimbursed under this Section 6, (ii) contain a description of the circumstances supporting such Indemnitee’s belief that there is or has been such an inaccuracy or breach or that
such Indemnitee may otherwise be entitled to be held harmless, indemnified, compensated or reimbursed and (iii) contain a good faith, non-binding, preliminary estimate of the aggregate dollar amount of
actual and potential Damages that have arisen and may arise as a result of the inaccuracy, breach or other matter referred to in such notice (the aggregate amount of such estimate, as it may be modified by such Indemnitee in good faith from time to
time, being referred to as the “Claimed Amount”). 
 (b) During the 20-day
period commencing upon the delivery by an Indemnitee to the Representative of a Notice of Indemnification Claim (the “Dispute Period”), the Indemnifying Party shall deliver to the Indemnitee a written response (the “Response
Notice”) in which the Indemnifying Party: (i) agrees that the full Claimed Amount is owed to the Indemnitee; (ii) agrees that part (but not all) of the Claimed Amount is owed to the Indemnitee (such amount as is agreed to be owed
the “Agreed Amount”); or (iii) asserts that no part of the Claimed Amount is owed to the Indemnitee. Any part of the Claimed Amount that is not agreed by the Indemnifying Party to be owed to the Indemnitee pursuant to the
Response Notice (or the entire Claimed Amount, if the Indemnifying Party asserts in the Response Notice that no part of the Claimed Amount is owed to the Indemnitee) shall be referred to as the “Contested Amount” (it being
understood that the Contested Amount shall be modified from time to time to reflect any good faith 

  
 19 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
and reasonable modifications by the Indemnitee to the Claimed Amount). If a Response Notice is not sent to the Indemnitee prior to the expiration of the Dispute Period, then the Indemnifying
Party shall be conclusively and irrevocably deemed to have agreed that the full Claimed Amount is owed to the Indemnitee. If there is a Contested Amount, the Indemnifying Party and the Indemnitee shall attempt in good faith to resolve the dispute
related to the Contested Amount. If the Indemnitee and the Indemnifying Party resolve such dispute in writing, then their resolution of such dispute shall be binding on the Indemnifying Party, Transferor, Acquiror and the other Indemnitees and a
settlement agreement stipulating the amount owed to the Indemnitee (the “Stipulated Amount”) shall be signed by the Indemnitee and the Indemnifying Party. Acquiror, on the one hand, or Transferor, on the other hand, in each case as
applicable, shall, within 10 days following execution of such settlement agreement, pay the Stipulated Amount to the Indemnitee (including, as applicable, delivery of Closing Shares). 

(c) If the Indemnifying Party and the Indemnitee are unable to resolve the dispute relating to any Contested Amount during the 30-day period commencing upon the delivery of the Response Notice, then either the Indemnitee or the Indemnifying Party may submit the contested portion of the indemnification claim to the court in accordance with
Section 7.6. The final award setting forth the aggregate amount owed to the Indemnitee shall be referred to as the “Award Amount”. Acquiror, on the one hand, or Transferor, on the other hand, in each case
as applicable, shall within 10 days following the entry by the court of the Award Amount, pay the Award Amount to the Indemnitee (including, as applicable, delivery of Closing Shares). 

6.7 Tax Treatment of Indemnification Payments. All indemnification payments made under this Agreement shall be treated by
Transferor and Acquiror as an adjustment to the Consideration for all Tax purposes, unless otherwise required by applicable Legal Requirements. 

SECTION 7. MISCELLANEOUS PROVISIONS. 

7.1 Fees and Expenses. Except as otherwise provided in this Agreement, each party and Founder shall bear and pay all fees, costs
and expenses (including legal fees, accounting fees and investment banking fees) that have been incurred or that are incurred by or on behalf of such party or Founder in connection with the Transactions. 

7.2 Attorneys’ Fees. If any Legal Proceeding relating to this Agreement or the enforcement of any provision
of this Agreement is brought against any party hereto, the prevailing party shall be entitled to recover reasonable attorneys’ fees, costs and disbursements (in addition to any other relief to which the prevailing party may be entitled). 

7.3 Notices. Any notice or other communication required or permitted to be delivered to any party under this Agreement shall be
in writing and shall be deemed properly delivered, given and received when delivered (by hand, by registered mail, by courier or express delivery service or by electronic mail) to the address or electronic mail address set forth beneath the name of
such party below (or to such other address or electronic mail address as such party or Founder shall have specified in a written notice given to the other parties hereto): 

if to Acquiror or Founder: 

RePharmation Inc. 
 [ADDRESS]

  
 20 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 with a copy (which shall not constitute notice to): 

Cooley LLP 
 101 California
Street, 5th Floor 
 San Francisco, CA 94111 

Attention: Kenn Guernsey and Laura Medina 

Email: kguernsey@cooley.com and lmedina@cooley.com 

if to Transferor: 

GIRAFPHARMA LLC 
 998 Tulip Court

 Sunnyvale, CA 94086 

Attention: Jit Chakravarty 

Email: jit.chakravarty@sparcbio.com 

With a copy (which shall not constitute notice to): 

Morrison & Foerster LLP 

425 Market Street 
 San Francisco,
CA 94105 
 Attention: John Rafferty 

Email: jrafferty@mofo.com 

7.4 Headings. The headings contained in this Agreement are for convenience of reference only, shall not be deemed to be a part
of this Agreement and shall not be referred to in connection with the construction or interpretation of this Agreement. 
 7.5
Counterparts and Exchanges by Electronic Transmission. This Agreement may be executed in several counterparts, each of which shall constitute an original and all of which, when taken together, shall constitute one agreement. The exchange of a
fully executed Agreement (in counterparts or otherwise) delivered electronically (including transmission by .pdf or other fixed image form) shall be sufficient to bind the parties and Founder to the terms and conditions of this Agreement. 

7.6 Governing Law; Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the Legal
Requirements of the State of Delaware applicable to Contracts executed in and to be performed entirely within such State. In any matter that relates to Section 4.5, each of the parties hereby irrevocably and unconditionally submits, for itself
and its assets and properties, to the exclusive jurisdiction of any Delaware State court, or Federal court of the United States of America, sitting within the State of Delaware, and any appellate court from any thereof, in any Legal Proceeding
arising out of or relating to this Agreement, the agreements delivered in connection with this Agreement, or the Transactions, or for recognition or enforcement of any judgment relating thereto, and each of the parties hereby irrevocably and
unconditionally (a) agrees not to commence any such Legal Proceeding except in such courts; (b) agrees that any claim in respect of any such Legal Proceeding may be heard and determined in such Delaware State court or, to the extent
permitted by Legal Requirement, in such Federal court; (c) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any such Legal Proceeding in any such
Delaware State or Federal court; and (d) waives, to the fullest extent permitted by Legal Requirement, the defense of an inconvenient forum to the maintenance of such Legal Proceeding in any such Delaware State or Federal court. Each of the
parties hereby agrees that a final judgment in any such Legal Proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Legal Requirement. Each

  
 21 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
of the parties hereby irrevocably consents to service of process in the manner provided for notices in Section 7.2. Nothing in this Agreement shall affect the right of
any party to serve process in any other manner permitted by applicable Legal Requirement. 
 7.7 Waiver of Jury Trial. In any matter that
relates to Section 4.5, each of the parties hereto hereby irrevocably waives any and all right to trial by jury. 
 7.8
Successors and Assigns. This Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and permitted assigns, and any purported assignment in contravention of this
Section 7.8 shall be void and of no effect. Acquiror may assign any or all of its rights and obligations under this Agreement to any Person, including any wholly-owned subsidiary of Acquiror; provided that Acquiror
remains liable for its obligations under this Agreement. Transferor may not assign its rights and obligations under this Agreement without obtaining the written consent of Acquiror. 

7.9 Specific Performance. The parties agree that, in the event of any breach or threatened breach by any party of any covenant,
obligation or other provision set forth in this Agreement for the benefit of any other party, such other party shall be entitled (in addition to any other remedy that may be available to it) to (a) a decree or order of specific performance or
mandamus to enforce the observance and performance of such covenant, obligation or other provision and (b) an injunction restraining such breach or threatened breach. The parties agree that no party shall be required to provide any bond or
other security in connection with any such decree, order or injunction or in connection with any related Legal Proceeding. 
 7.10
Waiver. 
 (a) No failure on the part of any Person to exercise any power, right, privilege or remedy under this Agreement, and
no delay on the part of any Person in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege
or remedy shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. 
 (b) No Person
shall be deemed to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under this Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument
duly executed and delivered on behalf of such Person; and any such waiver shall not be applicable or have any effect except in the specific instance in which it is given. 

7.11 Amendments. This Agreement may not be amended, modified, altered or supplemented other than by means of a written
instrument duly executed and delivered on behalf of all of the parties and Founder. 
 7.12 Severability. Any term or
provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or
provision in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction declares that any term or provision hereof is invalid or unenforceable, the parties hereto agree that the court making such
determination shall have the power to limit the term or provision, to delete specific words or phrases, or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to
expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified. In the event such court does not exercise the power granted to it in the prior sentence, the parties hereto agree to
replace such invalid or unenforceable term or provision with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable term. 

  
 22 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 7.13 Parties in Interest. Nothing expressed or implied in this Agreement is
intended or shall be construed to confer upon or give any Person, other than the parties hereto, any rights or remedies under or by reason of this Agreement; provided, however, that, notwithstanding the foregoing, the Indemnitees shall be and
are intended third-party beneficiaries of, and may enforce, Section 6. 
 7.14 Entire Agreement.
This Agreement and the other agreements referred to herein set forth the entire understanding of the parties and Founder relating to the subject matter hereof and thereof and supersede all prior agreements and understandings among or between any of
the parties and Founder relating to the subject matter hereof and thereof. 
 7.15 Termination. This Agreement may be
abandoned and the Transactions abandoned at any time prior to the Closing as follows and in no other manner: (a) by written agreement of Acquiror and Transferor; (b) by either Acquiror or Transferor if the Closing has not occurred by
June 30, 2019; (c) by either Acquiror or Transferor if (i) there is a temporary restraining order, preliminary or permanent injunction or other Order issued by any court of competent jurisdiction or other Governmental Body preventing or
otherwise impeding the consummation of the Transactions that remains in effect as of immediately prior to the Closing or (ii) there shall be any applicable Legal Requirement enacted or deemed applicable to the Transactions that makes
consummation of the Transactions illegal or otherwise prevents or otherwise impedes the consummation of the Transactions; (d) by Acquiror if any of the closing deliverables set forth in Section 5.1 have not been
delivered to Acquiror on or prior to the date of the closing of the Financing or (e) by Transferor if any of the closing deliverables set forth in Section 5.2 (other than the deliverables in
Section 5.2(a) and Section 5.2(b), which will be delivered at the Closing) have not been delivered to Transferor on or prior to the date of the closing of the Financing. 

7.16 Construction. 

(a) For purposes of this Agreement, whenever the context requires: the singular number shall include the plural, and vice versa; the
masculine gender shall include the feminine and neuter genders; the feminine gender shall include the masculine and neuter genders; and the neuter gender shall include the masculine and feminine genders. 

(b) The parties and Founder agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting
party shall not be applied in the construction or interpretation of this Agreement. 
 (c) As used in this Agreement and the Exhibits
to this Agreement, the words “include” and “including,” and variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without limitation.” 

(d) The phrase “delivered to Acquiror” or similar phrases used in this Agreement shall mean that true and correct copies of
the subject document were posted to the electronic data room for this transaction or otherwise delivered to Acquiror prior to the date of this Agreement. 

  
 23 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 (e) Except as otherwise indicated, all references in this Agreement to
“Sections,” “Exhibits” and “Schedules” are intended to refer to Sections of this Agreement and Exhibits and Schedules to this Agreement. 

[Remainder of page intentionally left blank] 

  
 24 

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 IN WITNESS WHEREOF, the parties and
Founder have caused this Agreement to be executed and delivered as of the date first set forth above. 
  

					
	REPHARMATION INC.
		
	By:	 	 /s/ David T. Hung

		 	Name:	 	David T. Hung
		 	Title:	 	CEO
	
	GIRAFPHARMA LLC
		
	By:	 	 /s/ Sarvajit Chakravarty

		 	Name:	 	Sarvajit Chakravarty
		 	Title:	 	CEO
	
	FOUNDER
		
	By:	 	 /s/ David T. Hung

		 	David Hung

 ASSET ACQUISITION AGREEMENT 

 
 Certain information has been excluded from this agreement (indicated by
“[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed. 

 EXHIBIT A 

CERTAIN DEFINITIONS 
 For
purposes of the Agreement (including this Exhibit A and the Transferor Disclosure Schedule): 
 Acquiror
Indemnitees. “Acquiror Indemnitees” means (a) Acquiror; (b) Acquiror’s current and future Affiliates; (c) the respective Representatives of the Persons referred to in clauses “(a)” and “(b)”
above; and (d) the respective successors and assigns of the Persons referred to in clauses “(a)”, “(b)” and “(c)” above. 

Acquiror Asset Sale. “Acquiror Asset Sale” shall have the meaning ascribed to it in the definition of “Sale Event”.

 Acquiror Stock Sale. “Acquiror Stock Sale” shall have the meaning ascribed to it in the definition of “Sale
Event”. 
 Affiliate. “Affiliate” when used with respect to any specified Person, means any other Person who or that,
directly or indirectly through one or more intermediaries, Controls, is Controlled by or is under common Control with such specified Person. 

Agreed Amount. “Agreed Amount” has the meaning set forth in Section 6.6(b). 

Agreement. “Agreement” means the Asset Acquisition Agreement to which this Exhibit A is attached. 

Ancillary Document. “Ancillary Document” means the Transfer Agreement and any agreement, certificate or other document
executed at or prior to the Closing in connection herewith. 
 Award Amount. “Award Amount” has the meaning set forth in
Section 6.6(c). 
 Cash Consideration. “Cash Consideration” means $5.0 million in cash. 

Claimed Amount. “Claimed Amount” has the meaning set forth in Section 6.6(a). 

Closing Shares. “Closing Shares” means such number of shares of Acquiror Common Stock equal to the quotient of
(a) the Stock Consideration divided by (b) Deemed Value. 
 Code. “Code” means the Internal Revenue Code
of 1986, as amended. 
 Collaboration Agreement. “Collaboration Agreement” has the meaning set forth in the Recitals. 

Collaboration Agreement Effective Date. “Collaboration Agreement” has the meaning set forth in the Recitals. 

Competitive Business. “Competitive Business” means involvement in the acquisition, discovery or development of pharmaceutical
product candidates: (a) that are designed to specifically target the same molecular target as the Programs, and (b) (i) that exert such product candidates’ primary mechanism of action through binding such molecular target or
(ii) that exert such product candidates’ substantial pharmacological activity for the treatment of a disease condition through binding of the product candidate to the same molecular target as the Programs. 

 
 Certain information has been excluded from this agreement (indicated by
“[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed. 

 Consent. “Consent” means any approval, consent, ratification, permission,
waiver or authorization (including any Governmental Authorization). 
 Contested Amount. “Contested Amount” has the meaning
set forth in Section 6.6(b). 
 Consideration. “Consideration” has the meaning set forth in
Section 1.5. 
 Contract. “Contract” means any written, oral or other agreement, contract,
subcontract, lease, understanding, instrument, note, certificate, warranty, proxy, insurance policy, benefit plan or legally binding commitment, arrangement or undertaking of any nature. 

Contributions. “Contributions” has the meaning set forth in Section 1.1(b). 

Control. “Control” means, as to any Person, the power to direct or cause the direction of the management and policies of such
Person, whether through the ownership of voting securities, by contract or otherwise. The term “Controlled” shall have a correlative meaning. 

Damages. “Damages” means claims, liabilities, damages, Taxes, losses, costs and expenses (including reasonable
attorneys’ fees, court costs, expert witness fees, transcript costs and other expenses of litigation), awards and judgments (at law or in equity) of any nature, but shall not include (i) consequential or indirect damages that were not
reasonably foreseeable, (ii) punitive or exemplary damages or (iii) lost opportunities, lost profits or other similar speculative damages, except, in each case (i) through (iii), such damages are part of any judgment or award against
an Indemnitee in actions by third parties. 
 Deemed Value. “Deemed Value” means a price per Closing Share equal to the
original purchase price of the Series A Preferred Stock of Acquiror issued at the initial closing of the Financing. 
 Deductible
Amount. “Deductible Amount” has the meaning set forth in Section 6.4(a). 
 Dispute Period.
“Dispute Period” has the meaning set forth in Section 6.6(b). 
 Encumbrance.
“Encumbrance” means any lien, pledge, hypothecation, charge, mortgage, security interest, encumbrance, claim, infringement, interference, option, right of first refusal or preemptive right. 

Entity. “Entity” means any corporation (including any non-profit corporation),
general partnership, limited partnership, limited liability partnership, joint venture, estate, trust, company (including any limited liability company or joint stock company), firm or other enterprise, association, organization or entity. 

Environmental Law. “Environmental Law” means any applicable federal, state, local or foreign Legal Requirement relating to
pollution or protection of worker health or safety (with respect to exposure to Materials of Environmental Concern) or the environment (including ambient air, surface water, ground water, land surface or subsurface strata), including any Legal
Requirement relating to emissions, discharges, releases or threatened releases of Materials of Environmental Concern, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of
Materials of Environmental Concern. 
  
 Certain information has been excluded from
this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed. 

 Equityholders. “Equityholders” has the meaning set forth in
Section 2.3. 
 ERISA. “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended. 
 Excluded Assets. “Excluded Assets” has the meaning set forth in Section 1.4. 

Excluded Taxes. “Excluded Taxes” shall mean any (a) Taxes of Transferor (or any member, stockholder or Affiliate of
Transferor), or for which Transferor (or any member, stockholder or Affiliate of Transferor) is or are liable, for any taxable period; (b) to the extent not included in the preceding subpart (a), all Taxes imposed upon the Excluded Assets for
any taxable period; (c) Taxes imposed upon the Transferred Assets for any Pre-Closing Tax Period; and (d) any Transfer Taxes borne by Transferor pursuant to Section 1.6.

 FDA. “FDA” means the United States Food and Drug Administration or any successor agency thereto. 

Financing. “Financing” means the closing by Acquiror of a Series A preferred stock financing in an amount not less than
$100.0 million, including the conversion of any outstanding convertible promissory notes, on terms materially similar to the terms set forth in the Series A Term Preferred Stock term sheet dated December 3, 2018, provided to Transferor,
with respect to (a) type of security, (b) conversion ratio and (c) liquidation preference. 
 Financing Documents.
“Financing Documents” means (a) Acquiror’s (i) investor/registration rights agreement entered into in connection with the Financing (it being understood that Transferor shall be treated as an investor thereunder) and
(ii) voting agreement and co-sale and right of first refusal agreement entered into in connection with the Financing (it being understood that Transferor shall be treated in the same manner as Founder
thereunder) and (b) any other agreement pursuant to which Founder is granted rights (in his capacity as a holder of Acquiror Common Stock) as of the Closing under any shareholder agreement or any other agreement relating to the Finacning. 

Founder. “Founder” has the meaning set forth in the Recitals. 

Founder Contribution. “Founder Contribution” has the meaning set forth in Section 1.1(b). 

Governmental Authorization. “Governmental Authorization” means any: (a) permit, license, certificate, franchise,
permission, clearance, registration, qualification or authorization issued, granted, given or otherwise made available by or under the authority of any Governmental Body or pursuant to any Legal Requirement; or (b) right under any Contract with
any Governmental Body. 
 Governmental Body. “Governmental Body” means any: (a) nation, state, commonwealth, province,
territory, county, municipality, district or other jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; (c) governmental or quasi-governmental authority of
any nature (including any governmental division, department, agency, commission, instrumentality, official, organization, unit, body or Entity and any court or other tribunal); or (d) self-regulatory organization (including the NASD). 

Guidance. “Guidance” means all federal, state, local or foreign regulatory or
sub-regulatory guidance documents issued by any Governmental Body interpreting or implementing any Legal Requirement. 
  

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 Indebtedness. “Indebtedness” means both the current and long-term portions
of any amount owed by Transferor, without duplication, in respect of (a) borrowed money, extensions of credit, purchase money financing, and capitalized lease obligations or for the deferred purchase price of property or services, (b) all
obligations for the reimbursement of any obligor for amounts drawn on any outstanding letters of credit, (c) all obligations evidenced by a note, bond, debenture or similar instrument, (d) and (e) all accrued and unpaid interest,
fees, expenses, prepayment penalties or premiums on, or any guarantees or other contingent liabilities with respect to, any of the obligations referred to in the foregoing clauses (a) through (d); provided, however, that notwithstanding
the foregoing, Indebtedness shall not be deemed to include any accounts payable incurred in the ordinary course of business. 

indemnification claim. “indemnification claim” has the meaning set forth in Section 6.6(a). 

Indemnifying Party. “Indemnifying Party” has the meaning set forth in Section 6.5. 

Indemnitees. “Indemnitees” means the Acquiror Indemnitees and the Transferor Indemnitees, collectively. 

Intellectual Property. “Intellectual Property” means and include all compounds, formulations, inventions (whether or not
patentable), know-how, logos, marks (including brand names, product names, logos, and slogans), methods, proprietary information, protocols, schematics, specifications, test results, works of authorship, and
other forms of technology (whether or not embodied in any tangible form and including all tangible embodiments of the foregoing). 

Intellectual Property Rights. “Intellectual Property Rights” means and include all rights of the following types, which may
exist or be created under the laws of any jurisdiction in the world: (a) rights associated with works of authorship, including exclusive exploitation rights, copyrights, moral rights, and mask works; (b) trademark and trade name rights and
similar rights; (c) trade secret rights; (d) patents and industrial property rights; (e) other proprietary rights in Intellectual Property of every kind and nature, including all databases and data collections, diagrams, formulae,
inventions (whether or not patentable), know-how, logos, marks (including brand names, product names, logos, and slogans), methods, processes, proprietary information, protocols, schematics, specifications,
test results, techniques, works of authorship, and other forms of technology (whether or not embodied in any tangible form and including all tangible embodiments of the foregoing); and (f) all registrations, renewals, extensions, continuations,
divisions, or reissues of, and applications for, any of the rights referred to in clauses (a) through (e) above. 
 Intended Tax
Treatment. “Intended Tax Treatment” has the meaning set forth in the Recitals. 
 IPO. “IPO” means
Acquiror’s first firm commitment underwritten public offering of its common stock registered under the Securities Act. 
 IPO Value.
“IPO Value” means the product of the (a) price per share to the public in the IPO multiplied by (b) the number of outstanding shares of Acquiror on the date of consummation of the IPO. 

IRS. “IRS” means the United States Internal Revenue Service. 

Key Employees. “Key Employees” means [***]. 
  

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 Knowledge. An individual shall be deemed to have “Knowledge” of a
particular fact or other matter if such individual is actually aware of such fact or other matter after reasonable inquiry of such individual’s direct reports. Transferor shall be deemed to have “Knowledge” of a particular fact or
other matter if Sarvajit Chakravarty or Vandana Date has Knowledge of such fact or matter. 
 Legal Proceeding. “Legal
Proceeding” means any action, suit, litigation, arbitration, proceeding (including any civil, criminal, administrative, investigative or appellate proceeding), hearing, inquiry, audit, examination or investigation commenced, brought, conducted
or heard by or before, or otherwise involving, any court or other Governmental Body or any arbitrator or arbitration panel. 
 Legal
Requirement. “Legal Requirement” means any federal, state, local, municipal, foreign or other law, statute, constitution, principle of common law, resolution, ordinance, code, edict, decree, rule, regulation, order, award, ruling or
requirement issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the authority of any Governmental Body. 

Liability. “Liability” means any and all liabilities and obligations of any kind or nature, whether accrued or fixed,
absolute or contingent, matured or unmatured, or determined or determinable. 
 Material Contract. “Material Contract” and
“Material Contracts” have the meaning set forth in Section 2.8(a). 
 Materials of Environmental
Concern. “Materials of Environmental Concern” include chemicals, pollutants, contaminants, wastes, toxic substances, petroleum and petroleum products and any other substance that is now regulated by any Environmental Law. 

Non-Competition Agreement. “Non-Competition
Agreement” has the meaning set forth in the Recitals. 
 Notice of Indemnification Claim. “Notice of Indemnification
Claim” has the meaning set forth in Section 6.6(a). 
 Order. “Order” means any order, writ,
injunction, judgment or decree. 
 Organizational Documents. “Organizational Documents” has the meaning set forth in
Section 2.1(a). 
 Original Founder Shares. “Original Founder Shares” has the meaning set forth
in Section 3.7(a). 
 party. “party” and “parties” have the meaning set forth in the
first sentence of the Agreement. 
 Permitted Encumbrances. “Permitted Encumbrances” means: (a) liens for Taxes that
are not yet delinquent or that are being contested in good faith and for which appropriate reserves have been established on the most recent Financial Statements of the relevant party; (b) liens of carriers, warehousemen, mechanics and
materialmen and other like liens, and liens imposed by law, in each case incurred in the ordinary course of business for obligations not yet due and payable; and (c) liens in respect of pledges or deposits under workers’ compensation laws
or similar legislation. 
 Permitted Securities. “Permitted Securities” means shares of Acquiror Common Stock issued under
Acquiror’s equity incentive pool and other exclusions from the preferred stock anti-dilution provisions in Acquiror’s Certificate of Incorporation and the definitive documentation executed in connection with the Financing. 

 
 Certain information has been excluded from this agreement (indicated by
“[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed. 

 Person. “Person” means any individual, Entity or Governmental Body. 

 Pre-Closing Tax Period. “Pre-Closing Tax
Period” means any taxable year or period that ends on or before the Closing Date and, with respect to any Straddle Period, the portion of such taxable year or period ending on the Closing Date. 

Programs. “Programs” has the meaning set forth in Section 1.3(a). 

Registered IP. “Registered IP” means all Intellectual Property Rights that are registered, filed, or issued under the
authority of any Governmental Body, including all patents, registered copyrights, registered mask works, and registered trademarks and all applications for any of the foregoing. 

Regulatory Materials. “Regulatory Materials” means all applications, registrations, clearances, licenses, waivers,
accreditations, authorizations and approvals, correspondence submitted to or received from the FDA or another Governmental Body, correspondence tracking logs, internal meeting minutes and contact reports relating to the Programs. 

Related to the Programs. “Related to the Programs” means used or held for use in connection with the Programs or otherwise
relating to the Programs. 
 RePharmation Limited. “RePharmation Limited” means RePharmation Limited, a Bermuda company.

 Representatives. “Representatives” means officers, directors, employees, partners, agents, attorneys, accountants,
advisors and representatives. 
 Response Period. “Response Period” has the meaning set forth in
Section 6.6(b). 
 Retained Liabilities. “Retained Liabilities” has the meaning set forth in
Section 1.6(b). 
 Securities Act. “Securities Act” means the Securities Act of 1933, as amended.

 Sale Event. “Sale Event” means, at any time prior to an IPO, (a) the acquisition of Acquiror by another Person by
means of any transaction or series of related transactions to which Acquiror is party (including any stock acquisition, reorganization, merger or consolidation but excluding any sale of stock for capital raising purposes) other than a transaction or
series of transactions in which the holders of the voting securities of Acquiror outstanding immediately prior to such transaction continue to retain (either by such voting securities remaining outstanding or by such voting securities being
converted into voting securities of the surviving entity), as a result of shares in Acquiror held by such holders prior to such transaction, at least 50% of the total voting power represented by the voting securities of Acquiror or such surviving
entity outstanding immediately after such transaction or series of transactions (“Acquiror Stock Sale”); or (b) a sale, lease, exclusive license or other conveyance of all or substantially all of the assets of Acquiror
(“Acquiror Asset Sale”). For the avoidance of doubt, a Sale Event cannot occur following an IPO. 
  

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 Sale Value. “Sale Value” means the sum of any cash and the fair market
value (as determined in good faith by the board of directors of Acquiror, in its sole discretion) of any securities or other property payable to the securityholders of Acquiror at the closing of a Sale Event in respect of their holdings of
Acquiror’s securities. For clarity, Sale Value shall be reduced by all transaction fees and costs of for which Acquiror is liable not taken into account in determining the sum payable to the securityholders of Acquiror and, in the case of an
Acquiror Asset Sale, reduced by the amount of all debts and liabilities of Acquired not assumed by any acquirer and increased by the value of all assets of Acquiror not transferred in such sale (with such value determined in good faith by the board
of directors of Acquiror, in its sole discretion). Sale Value does not include any implied value of any Acquiror stock options assumed or otherwise continued by the acquirer (or substituted by the acquirer for options or other equity of the
acquirer) or the value of debt assumed by the acquirer. In the event of an Acquiror Stock Sale in which less than 100% of the outstanding shares of Acquiror capital stock are acquired, the Sale Value shall be calculated as if 100% of such
outstanding shares were acquired. 
 Shares. “Shares” means the Closing Shares and the Subsequent Shares, collectively.

 SPARCBIO. “SPARCBIO” means SPARCBIO LLC, a Delaware limited liability company and affiliate of Transferor. 

Specified Asset. “Specified Asset” has the meaning set forth in Section 4.1. 

Specified Representations. “Specified Representations” means the representations and warranties set forth in
Section 2.1 (Company Status; Subsidiaries), Section 2.2 (Authorization and Enforceability; No Conflict), Section 2.10 (Tax Matters), Section 2.19
(Financial Advisor), Section 3.1 (Due Organization), Section 3.2 (Authority, Binding Nature of Agreement), Section 3.4 (Valid Issuance) and
Section 3.7 (Acquiror Capitalization). 
 Stipulated Amount. “Stipulated Amount” has the meaning
set forth in Section 6.6(b). 
 Stock Consideration. “Stock Consideration” means $10,000,000.

 Straddle Period. “Straddle Period” means any taxable period that begins on or before but does not end on the Closing
Date. 
 Subsidiary. An Entity shall be deemed to be a “Subsidiary” of another Person if such Person directly or indirectly
owns or purports to own, beneficially or of record, (a) an amount of voting securities of other interests in such Entity that is sufficient to enable such Person to elect at least a majority of the members of such Entity’s board of
directors or other governing body, or (b) a majority of the outstanding equity or financial interests of such Entity. 
 Subsequent
Shares. “Subsequent Shares” means such number of shares of Acquiror Common Stock equal to, for each [***] (or ratable portion thereof) in IPO Value or Sale Value in excess of [***], the product of (i) 0.1% multiplied by
(ii) the aggregate number of fully diluted shares (including with respect to options and on an as-converted to common basis) of Acquiror Common Stock immediately following the final closing of the
Financing, provided that in the event that the Financing amount is less than [***], the foregoing “aggregate number of fully diluted shares” shall be based on the aggregate number of fully diluted shares of Acquiror Common Stock that would
have been outstanding immediately following the final closing of the Financing if the Financing amount had equaled [***]). By way of example, if the IPO Value is [***], then (assuming that the Financing 

 
 Certain information has been excluded from this agreement (indicated by
“[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed. 

 
amount is [***] and the aggregate number of fully diluted shares is [***]), the number of Subsequent Shares shall be equal to the sum of: [***]. 

Tax. “Tax” means any federal, state, local, or non-U.S. tax of any kind whatsoever
including income, gross receipts, license, payroll, employment, excise, severance, stamp, occupation, premium, windfall profits, environmental, customs duties, capital stock, franchise, escheat, profits, withholding, social security (or similar),
unemployment, disability, real property, personal property, sales, use, transfer, registration, value added, alternative or add-on minimum, estimated, or other tax, including any interest, penalty, or addition
thereto, whether disputed or not. 
 Tax Representation. “Tax Representation” means the representations set forth in
Section 2.10. 
 Tax Return. “Tax Return” means any return, declaration, report, claim for
refund, or information return or statement filed or required to be filed relating to Taxes, including any schedule or attachment thereto, and including any amendment thereof. 

Transactions. “Transactions” means the transactions and other matters contemplated by the Agreement. 

Transfer Agreement. “Transfer Agreement” has the meaning set forth in Section 5.1(e). 

Transferred Assets. “Transferred Assets” has the meaning set forth in Section 1.3. 

Transferred IP. “Transferred IP” has the meaning set forth in Section 1.3(b). 

Transferor Affiliate. “Transferor Affiliate” means (a) SPARCBIO, and (b) any Person under common control with
Transferor within the meaning of Sections 414(b), (c), (m) and (o) of the Code, and the regulations issued thereunder. 
 Transferor
Contract. “Transferor Contract” means any Contract: (a) to which Transferor is a party; (b) by which Transferor or any of its assets is bound or under which Transferor has any obligation; or (c) under which Transferor
has any legally binding right or interest. 
 Transferor Disclosure Schedule. “Transferor Disclosure Schedule” has the
meaning set forth in Section 2. 
 Transferor Employee. “Transferor Employee” means any current
or former employee, consultant, independent contractor or director of Transferor or a Transferor Affiliate. 
 Transferor Employee Plan.
“Transferor Employee Plan” means any plan, program, policy, practice, Contract or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards,
fringe benefits or other employee benefits or remuneration of any kind, whether written, unwritten or otherwise, and whether funded or unfunded, including each “employee benefit plan,” within the meaning of Section 3(3) of ERISA
(whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to or required to be 
  

Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be
competitively harmful if publicly disclosed. 

 
contributed to by Transferor or any Transferor Affiliate for the benefit of any Transferor Employee, or with respect to which Transferor or any Transferor Affiliate has or may have any liability
or obligation; provided, however, than a Transferor Employee Agreement shall not be considered an “ Transferor Employee Plan.” 

Transferor Indemnitees. “Transferor Indemnitees” means (a) Transferor; (b) Transferor’s current and future
Affiliates; (c) the respective Representatives of the Persons referred to in clauses “(a)” and “(b)” above; and (d) the respective successors and assigns of the Persons referred to in clauses “(a)”,
“(b)” and “(c)” above. 
 Transfer Taxes. “Transfer Taxes” has the meaning set forth in
Section 1.8(a). 
  
 Certain information has been excluded
from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed. 

 SCHEDULE 1.1(B) 

FOUNDER ASSETS 

“Founder Assets” means the following: 

(a) the following Programs owned by Founder (the “Founder Programs”): 

(i) anti-cancer molecules (e.g., PARP inhibitors) [***]; and 

(ii) [***] and [***]-based compounds which have been [***] modified such that they have increased [***]; 

(b) all of the Intellectual Property and Intellectual Property Rights that are owned by Founder and that are Related to the Founder
Programs, together with the associated goodwill (the “Founder IP”); 
 (c) all tangible assets that are owned by
Founder and that are Related to the Founder Programs; 
 (d) all books, records, files and data that are Related to the Founder
Programs; 
 (e) all rights of Founder under any Contracts that are Related to the Founder Programs; 

(f) all of the biological and chemical materials that are Related to the Founder Programs; 

(g) all of the raw materials and supplies that are Related to the Founder Programs; 

(h) all Regulatory Materials of Founder that are Related to the Founder Programs; all preclinical data, including raw data and all
statistical Founder Programs developed to analyze preclinical data, in each case that are Related to the Founder Programs; all data contained in laboratory notebooks Related to the Founder Programs or relating to the biology of the Founder Programs;
and all correspondence with regulatory authorities Related to the Founder Programs; 
 (i) all Governmental Authorizations of Founder
that are Related to the Founder Programs; 
 (j) all claims (including claims for past infringement or misappropriation) of Founder
against other Persons relating to the Founder IP and all rights of indemnity, warranty rights, rights of contribution, rights to refunds, rights of reimbursement and other rights of recovery possessed by Founder relating to the Founder IP; and 

 
 Certain information has been excluded from this agreement (indicated by
“[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed. 

 (k) all shares or other interests that are held by Founder and represent ownership
interests in RePharmation, Ltd., a Bermuda company. 
  
 Certain information has been
excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed.Exhibit 10.1

 

APPENDIX C

  

Akerna Corp.

 

2019 Long Term Incentive Plan

 

As Amended and Restated on December
14, 2020

 

Section 1. Purpose; Definitions.

 

1.1. Purpose. The purpose of the
Plan is to enable the Company to offer to employees, officers and directors of and consultants to the Company and its Subsidiaries,
Parent and Affiliates whose past, present and/or potential future contributions to the Company and its Subsidiaries have been,
are or will be important to the success of the Company, an opportunity to share monetarily in the success of and/or acquire a proprietary
interest in the Company. The various types of long-term incentive awards that may be provided under the Plan will enable the Company
to respond to changes in compensation practices, tax laws, accounting regulations and the size and diversity of its businesses.

 

1.2. Definitions. For purposes of
the Plan, the following terms shall be defined as set forth below:

 

(a) “Affiliate” means a corporation,
limited liability company or other entity that controls, is controlled by, or is under common control with the Company and designated
by the Committee from time to time as such.

 

(b) “Agreement” means the agreement
between the Company and the Holder, or such other document as may be determined by the Committee, setting forth the terms and conditions
of an award under the Plan.

 

(c) “Asset Sale” means an acquisition
by any one person, or more than one person acting as a group, together with acquisitions during the 12-month period ending on the
date of the most recent acquisition by such person or persons, of assets from the Company that have a total gross fair market value
equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately before such acquisition
or acquisitions. For this purpose, gross fair market value means the value of the assets of the Company, or the value of the assets
being disposed of, determined without regard to any liabilities associated with such assets.

 

(d) “Board” means the Board
of Directors of the Company.

 

(e) “Change of Control” means
a transaction in which any one person, or more than one person acting as a group, acquires the ownership of stock of the Company
that, together with the stock held by such person or group, constitutes more than 50% of the total Fair Market Value or combined
voting power of the stock of the Company. A Change in Control caused by an increase in the percentage of stock owned by any one
person, or persons acting as a group, as a result of a transaction in which the Company acquires its stock in exchange for property
is not treated as a Change of Control for purposes of the Plan.

 

(f) “Code” means the Internal
Revenue Code of 1986, as amended from time to time.

 

(g) “Committee” means the committee
of the Board designated to administer the Plan as provided in Section 2.1. If no Committee is so designated, then all references
in this Plan to “Committee” shall mean the Board.

 

(h) “Common Stock” means the
Common Stock of the Company, par value $.0001 per share.

 

(i) “Company” means Akerna
Corp., a corporation organized under the laws of the State of Delaware.

 

(j) “Disability” means physical
or mental impairment as determined under procedures established by the Committee for purposes of the Plan.

 

(k) “Effective Date” means
the date determined pursuant to Section 11.1.

 

(l) “Fair Market Value,” unless
otherwise required by any applicable provision of the Code or any regulations issued thereunder, means, as of any given date: (i)
if the Common Stock is listed on a national securities exchange or is traded over-the-counter and last sale information is available,
unless otherwise determined by the Committee, the last sale price of the Common Stock in the principal trading market for the Common
Stock on such date, as reported by the exchange or by such source that the Committee deems reliable, as the case may be; or (ii)
if the fair market value of the Common Stock cannot be determined pursuant to clause (i), such price as the Committee shall determine,
in good faith.

 

    C-1

     

    

 

(m) “Holder” means a person
who has received an award under the Plan.

 

(n) “Incentive Stock Option”
means any Stock Option intended to be and designated as an “incentive stock option” within the meaning of Section 422
of the Code.

 

(o) “Non-qualified Stock Option”
means any Stock Option that is not an Incentive Stock Option.

 

(p) “Normal Retirement” means
retirement from active employment with the Company or any Subsidiary on or after such age which may be designated by the Committee
as “retirement age” for any particular Holder. If no age is designated, it shall be 65.

 

(q) “Other Stock-Based Award”
means an award under Section 8 that is valued in whole or in part by reference to, or is otherwise based upon, Common Stock.

 

(r) “Parent” means any present
or future “parent corporation” of the Company, as such term is defined in Section 424(e) of the Code.

 

(s) “Plan” means the Company’s
2019 Long Term Incentive Plan, as hereinafter amended from time to time.

 

(t) “Repurchase Value” shall
mean the Fair Market Value if the award to be settled under Section 2.2(e) or repurchased under Section 5.2(l) is comprised of
shares of Common Stock and the difference between Fair Market Value and the exercise price (if lower than Fair Market Value) if
the award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the number of shares subject to the award.
“Repurchase Value” if the award to be repurchased under Section 9.2 is comprised of shares of Common Stock shall mean
the greater of the Fair Market Value or the value of such award based upon the price per share of Common Stock received or to be
received by other shareholders of the Company in the event. “Repurchase Value” if the award to be repurchased under
Section 9.2 is comprised of Stock Options or Stock Appreciation Rights shall mean the difference between the greater of (1) the
Fair Market Value or the value of such award based upon the price per share of Common Stock received or to be received by other
shareholders of the Company in the event and (2) the exercise price (if lower), multiplied by the number of shares subject to the
award.

 

(u) “Restriction Period” means
the time or times within which awards may be subject to forfeiture, including upon termination of employment or failure of performance
conditions.

 

(v) “Restricted Stock” means
Common Stock received under an award made pursuant to Section 7 that is subject to restrictions under Section 7.

 

(w) “Restricted Stock Unit”
means an unfunded, unsecured right to receive, on the applicable settlement date, one share or an amount in cash or other consideration
determined by the Committee to be of equal value as of such settlement date, subject to certain vesting conditions and other restrictions.

 

(x) “SAR Value” means the excess
of the Fair Market Value (on the exercise date) over (a) the exercise price that the participant would have otherwise had to pay
to exercise the related Stock Option or (b) if a Stock Appreciation Right is granted unrelated to a Stock Option, the Fair Market
Value of a share of Common Stock on the date of grant of the Stock Appreciation Right, in either case, multiplied by the number
of shares for which the Stock Appreciation Right is exercised.

 

(y) “Stock Appreciation Right”
means the right to receive from the Company, without a cash payment to the Company, either a number of shares of Common Stock equal
to the SAR Value divided by the Fair Market Value (on the exercise date), or, at the Company’s election, cash in the amount
of the SAR Value.

 

    C-2

     

    

 

(z) “Stock Option” or “Option”
means any option to purchase shares of Common Stock which is granted pursuant to the Plan.

 

(aa) “Subsidiary” means any
present or future “subsidiary corporation” of the Company, as such term is defined in Section 424(f) of the Code.

 

(bb) “Vest” means to become
exercisable or to otherwise obtain ownership rights in an award. No award shall vest in less than a one-year period.

 

Section 2. Administration.

 

2.1. Committee Membership. The Plan
shall be administered by the Board or a Committee. If administered by a Committee, such Committee shall be composed of at least
two directors, all of whom are “non-employee” directors within the meaning of Rule 16b-3 under the Securities Exchange
Act of 1934, as amended. Committee members shall serve for such term as the Board may in each case determine and shall be subject
to removal at any time by the Board.

 

2.2. Powers of Committee. The Committee
shall have full authority to award, pursuant to the terms of the Plan: (i) Stock Options, (ii) Stock Appreciation Rights, (iii)
Restricted Stock, (iv) Restricted Stock Units, and/or (v) Other Stock-Based Awards. For purposes of illustration and not of limitation,
the Committee shall have the authority (subject to the express provisions of this Plan):

 

(a) to select the officers, employees,
directors and consultants of the Company, Parent, Subsidiary or Affiliate to whom Stock Options, Stock Appreciation Rights, Restricted
Stock, Restricted Stock Units and/or Other Stock-Based Awards may from time to time be awarded hereunder;

 

(b) to determine the terms and conditions,
not inconsistent with the terms of the Plan, of any award granted hereunder (including, but not limited to, number of shares, share
exercise price or types of consideration paid upon exercise of such options, such as other securities of the Company or other property,
any restrictions or limitations, and any vesting, exchange, surrender, cancellation, acceleration, termination, exercise or forfeiture
provisions, as the Committee shall determine);

 

(c) to determine any specified performance
goals or such other factors or criteria which need to be attained for the vesting of an award granted hereunder;

 

(d) to determine the terms and conditions
under which awards granted hereunder are to operate on a tandem basis and/or in conjunction with or apart from other awards under
this Plan and cash and non-cash awards made by the Company, Parent, Subsidiary and/or Affiliate outside of this Plan; and

 

(e) to make payments and distributions
with respect to awards (i.e., to “settle” awards) through cash payments in an amount equal to the Repurchase
Value.

 

The Committee may not modify or amend any
outstanding Option or Stock Appreciation Right to reduce the exercise price of such Option or Stock Appreciation Right, as applicable,
below the exercise price as of the date of grant of such Option or Stock Appreciation Right. In addition, no payment of cash or
other property having a value greater than the Repurchase Value may be made, and no Option or Stock Appreciation Right with a lower
exercise price may be granted, in exchange for, or in connection with, the cancellation or surrender of an Option or Stock Appreciation
Right.

 

Non-employee directors may not be granted
any awards covering more than [●] shares of Common Stock in any year.

 

2.3. Interpretation of Plan. Subject
to Section 10, the Committee shall have the authority to adopt, alter and repeal such administrative rules, guidelines and practices
governing the Plan as it shall from time to time deem advisable, to interpret the terms and provisions of the Plan and any award
issued under the Plan (and to determine the form and substance of all Agreements relating thereto), and to otherwise supervise
the administration of the Plan. Subject to Section 10, all decisions made by the Committee pursuant to the provisions of the Plan
shall be made in the Committee’s sole discretion and shall be final and binding upon all persons, including the Company,
its Parent, Subsidiaries, Affiliates and Holders.

 

    C-3

     

    

 

Section 3. Stock Subject to Plan.

 

3.1. Number of Shares. The total
number of shares of Common Stock reserved and available for issuance under the Plan shall be up to 1,565,038 shares. Shares of
Common Stock under the Plan (“Shares”) may consist, in whole or in part, of authorized and unissued shares or treasury
shares. If any shares of Common Stock that have been granted pursuant to a Stock Option cease to be subject to a Stock Option,
or if any shares of Common Stock that are subject to any Stock Appreciation Right, Restricted Stock award, Restricted Stock Units
or Other Stock-Based Award granted hereunder are forfeited, or any such award otherwise terminates without a payment being made
to the Holder in the form of Common Stock, such shares shall again be available for distribution in connection with future grants
and awards under the Plan. If a Holder pays the exercise price of a Stock Option by surrendering any previously owned shares and/or
arranges to have the appropriate number of shares otherwise issuable upon exercise withheld to cover the withholding tax liability
associated with the Stock Option exercise, then, in the Committee’s discretion, the number of shares available under the
Plan may be increased by the lesser of (i) the number of such surrendered shares and shares used to pay taxes; and (ii) the number
of shares purchased under such Stock Option.

 

3.2. Adjustment Upon Changes in Capitalization,
Etc. In the event of any common stock dividend payable on shares of Common Stock, Common Stock split or reverse split, combination
or exchange of shares of Common Stock, or other extraordinary or unusual event which results in a change in the shares of Common
Stock of the Company as a whole, the Committee shall determine, in its sole discretion, whether such change equitably requires
an adjustment in the terms of any award in order to prevent dilution or enlargement of the benefits available under the Plan (including
number of shares subject to the award and the exercise price) or the aggregate number of shares reserved for issuance under the
Plan. Any such adjustments will be made by the Committee, whose determination will be final, binding and conclusive.

 

3.3. Administrative Stand Still.
In the event of any changes in capitalization described above in Section 3.2, or any other extraordinary transaction or change
affecting the shares or the share price of Common Stock, including any equity restructuring or any securities offering or other
similar transaction, for administrative convenience, the Committee may refuse to permit the exercise of any award for up to sixty
days before and/or after such transaction; provided, however, that the Committee may not refuse to permit the exercise of any award
during the last five trading days prior to the expiration of such award.

 

3.4. Substitute Awards. In connection
with an entity’s merger or consolidation with the Company or any Subsidiary or Affiliate or the Company’s or any Subsidiary’s
or Affiliate’s acquisition of an entity’s property or stock, the Committee may grant awards in substitution for any
options or other stock or stock-based awards granted before such merger or consolidation by such entity or its affiliate. Substitute
awards may be granted on such terms as the Committee deems appropriate, notwithstanding limitations on awards in the Plan. Substitute
awards will not count against the plan limit, except that shares acquired by exercise of substitute Incentive Stock Options will
count against the maximum number of shares that may be issued pursuant to the exercise of Incentive Stock Options under the Plan.

 

Section 4. Eligibility.

 

Awards may be made or granted to employees, officers, directors and consultants of the Company or its Subsidiaries, Parent or Affiliates
who are deemed to have rendered or to be able to render significant services to the Company or its Subsidiaries and who are deemed to
have contributed or to have the potential to contribute to the success of the Company or Subsidiary and which recipients are qualified
to receive options under the regulations governing Form S-8 registration statements under the Securities Act of 1933, as amended (“Securities
Act”). Only employees of the Company, a Subsidiary or a Parent are eligible to receive Incentive Stock Options. No Incentive Stock Option shall
be granted to any person who is not an employee of the Company, a Subsidiary or Parent (including any non-employee directors) at the time
of grant of the Option. Notwithstanding anything to the contrary, an award other than an Incentive Stock Option may be made or granted
to a person in connection with his hiring or retention, or at any time on or after the date he reaches an agreement (oral or written)
with the Company or its Subsidiaries, Parent or Affiliates with respect to such hiring or retention, even though it may be prior to the
date the person first performs services for the Company or its Subsidiaries; provided,
however, that no portion of any such award shall vest prior to the date the person first performs such services and the date of grant
shall be deemed to be the date hiring or retention commences.

 

    C-4

     

    

 

Section 5. Stock Options.

 

5.1. Grant and Exercise. Stock Options
granted under the Plan may be of two types: (i) Incentive Stock Options and (ii) Non-qualified Stock Options. Any Stock Option
granted under the Plan shall contain such terms, not inconsistent with this Plan, or with respect to Incentive Stock Options, not
inconsistent with the Plan and the Code, as the Committee may from time to time approve. The Committee shall have the authority
to grant Incentive Stock Options or Non-qualified Stock Options, or both types of Stock Options which may be granted alone or in
addition to other awards granted under the Plan.

 

5.2. Terms and Conditions. Stock
Options granted under the Plan shall be subject to the following terms and conditions:

 

(a) Option Term. The term of each
Stock Option shall be fixed by the Committee; provided, however, that no Stock Option may be exercisable after the expiration of
ten years from the date of grant; provided, further, that no Incentive Stock Option granted to a person who, at the time of grant,
owns stock possessing more than 10% of the total combined voting power of all classes of voting stock of the Company (“10%
Shareholder”) may be exercisable after the expiration of five years from the date of grant.

 

(b) Exercise Price. The exercise
price per share of Common Stock purchasable under a Stock Option shall be determined by the Committee at the time of grant; provided,
however, that the exercise price of a Stock Option may not be less than 100% of the Fair Market Value on the date of grant or,
if greater, the par value of a share of Common Stock; provided, further, that the exercise price of an Incentive Stock Option granted
to a 10% Shareholder may not be less than 110% of the Fair Market Value on the date of grant.

 

(c) Exercisability. Stock Options
shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee. The
Committee intends generally to provide that Stock Options be exercisable only in installments, i.e., that they vest over time,
typically over a two- to five-year period. The Committee may waive such installment exercise provisions at any time at or after
the time of grant in whole or in part, based upon such factors as the Committee determines.

 

(d) Method of Exercise. Subject
to whatever installment, exercise and waiting period provisions are applicable in a particular case, Stock Options may be exercised
in whole or in part at any time during the term of the Option by giving written notice of exercise to the Company specifying the
number of shares of Common Stock to be purchased. Such notice shall be accompanied by payment in full of the purchase price, which
shall be in cash or, if provided in the Agreement, either in shares of Common Stock (including Restricted Stock and other contingent
awards under this Plan) or partly in cash and partly in such Common Stock, or such other means which the Committee determines are
consistent with the Plan’s purpose and applicable law. Cash payments shall be made by wire transfer, certified or bank check
or personal check, in each case payable to the order of the Company; provided, however, that the Company shall not be required
to deliver certificates for shares of Common Stock with respect to which an Option is exercised until the Company has confirmed
the receipt of good and available funds in payment of the purchase price thereof (except that, in the case of an exercise arrangement
approved by the Committee and described in the next sentence of this section, payment may be made as soon as practicable after
the exercise). The Committee may permit a Holder to elect to pay the exercise price upon the exercise of a Stock Option by irrevocably
authorizing a third party to sell shares of Common Stock (or a sufficient portion of the shares) acquired upon exercise of the
Stock Option and remit to the Company a sufficient portion of the sale proceeds to pay the entire exercise price and any tax withholding
resulting from such exercise. The Committee may also authorize other means for paying the exercise price of a Stock Option, including
using the value of the Stock Option (as determined by the difference in the Fair Market Value of the Common Stock and the exercise
price of the Stock Option or other means determined by the Committee).

 

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(e) Stock Payments. Payments in
the form of Common Stock shall be valued at the Fair Market Value on the date of exercise. Such payments shall be made by delivery
of stock certificates in negotiable form that are effective to transfer good and valid title thereto to the Company, free of any
liens or encumbrances.

 

(f) Transferability. Except as may
be set forth in the next sentence of this Section or in the Agreement, no Stock Option shall be transferable by the Holder other
than by will or by the laws of descent and distribution, and all Stock Options shall be exercisable, during the Holder’s
lifetime, only by the Holder (or, to the extent of legal incapacity or incompetency, the Holder’s guardian or legal representative).
Notwithstanding the foregoing, a Holder, with the approval of the Committee, may transfer a Non-Qualified Stock Option (i) (A)
by gift, for no consideration, or (B) pursuant to a domestic relations order, in either case, to or for the benefit of the Holder’s
“Immediate Family” (as defined below), or (ii) to an entity in which the Holder and/or members of Holder’s Immediate
Family own more than fifty percent of the voting interest, subject to such limits as the Committee may establish and the execution
of such documents as the Committee may require, and the transferee shall remain subject to all the terms and conditions applicable
to the Non-Qualified Stock Option prior to such transfer. The term “Immediate Family” shall mean any child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships, any person sharing the Holder’s household
(other than a tenant or employee), a trust in which these persons have more than fifty percent beneficial interest, and a foundation
in which these persons (or the Holder) control the management of the assets. The Committee may, in its sole discretion, permit
transfer of an Incentive Stock Option in a manner consistent with applicable tax and securities law upon the Holder’s request.

 

(g) Termination by Reason of Death.
If a Holder’s employment by, or association with, the Company, Parent, Subsidiary or Affiliate terminates by reason of death,
any Stock Option held by such Holder, unless otherwise determined by the Committee and set forth in the Agreement, shall thereupon
automatically terminate, except that the portion of such Stock Option that has vested on the date of death may thereafter be exercised
by the legal representative of the estate or by the legatee of the Holder under the will of the Holder, for a period of one year
(or such other greater or lesser period as the Committee may specify in the Agreement) from the date of such death or until the
expiration of the stated term of such Stock Option, whichever period is shorter.

 

(h) Termination by Reason of Disability.
If a Holder’s employment by, or association with, the Company, Parent, Subsidiary or Affiliate terminates by reason of Disability,
any Stock Option held by such Holder, unless otherwise determined by the Committee and set forth in the Agreement, shall thereupon
automatically terminate, except that the portion of such Stock Option that has vested on the date of termination may thereafter
be exercised by the Holder for a period of one year (or such other greater or lesser period as the Committee may specify in the
Agreement) from the date of such termination or until the expiration of the stated term of such Stock Option, whichever period
is shorter.

 

(i) Termination by Reason of Normal
Retirement. Subject to the provisions of Section 12.3, if such Holder’s employment by, or association with, the Company,
Parent, Subsidiary or Affiliate terminates due to Normal Retirement, any Stock Option held by such Holder, unless otherwise determined
by the Committee and set forth in the Agreement, shall thereupon automatically terminate, except that the portion of such Stock
Option that has vested on the date of termination may thereafter be exercised by the Holder for a period of one year in the case
of a Non-Qualified Stock Option or three months in the case of an Incentive Stock Option (or such other greater or lesser period
as the Committee may specify in the Agreement) from the date of such termination or until the expiration of the stated term of
such Stock Option, whichever period is shorter.

 

(j) Other Termination. Subject to
the provisions of Section 12.3, if such Holder’s employment by, or association with, the Company, Parent, Subsidiary or Affiliate
terminates for any reason other than death, Disability or Normal Retirement, any Stock Option held by such Holder, unless otherwise
determined by the Committee and set forth in the Agreement, shall thereupon automatically terminate, except that, if the Holder’s
employment is terminated by the Company, Parent, Subsidiary or Affiliate without cause, the portion of such Stock Option that has
vested on the date of termination may thereafter be exercised by the Holder for a period of three months (or such other greater
or lesser period as the Committee may specify in the Agreement) from the date of such termination or until the expiration of the
stated term of such Stock Option, whichever period is shorter.

 

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(k) Incentive Stock Options. The
aggregate Fair Market Value (on the date of grant of the Stock Option) of shares of Common Stock with respect to which Incentive
Stock Options become exercisable for the first time by a Holder during any calendar year (under all such plans of the Company and
its Parent and Subsidiaries) shall not exceed $100,000. To the extent that any Stock Option intended to qualify as an Incentive
Stock Option does not so qualify, including by reason of the immediately preceding sentence, it shall constitute a separate Non-qualified
Stock Option. The Company shall have no liability to any Holder or any other person if a Stock Option designated as an Incentive
Stock Option fails to qualify as such at any time or if a Stock Option is determined to constitute “nonqualified deferred
compensation” within the meaning of Section 409A of the Code and the terms of such Stock Option do not satisfy the requirements
of Section 409A of the Code.

 

(l) Buyout and Settlement Provisions.
The Committee may at any time, in its sole discretion, offer to repurchase a Stock Option previously granted, at a purchase price
not to exceed the Repurchase Value, based upon such terms and conditions as the Committee shall establish and communicate to the
Holder at the time that such offer is made.

 

(m) Rights as Shareholder. A Holder
shall have none of the rights of a Shareholder with respect to the shares subject to the Option until such shares shall be transferred
to the Holder upon the exercise of the Option.

 

Section 6. Stock Appreciation Rights.

 

6.1. Grant and Exercise. Subject
to the terms and conditions of the Plan, the Committee may grant Stock Appreciation Rights in tandem with an Option or alone and
unrelated to an Option. The Committee may grant Stock Appreciation Rights to participants who have been or are being granted Stock
Options under the Plan as a means of allowing such participants to exercise their Stock Options without the need to pay the exercise
price in cash. In the case of a Non-qualified Stock Option, a Stock Appreciation Right may be granted either at or after the time
of the grant of such Non-qualified Stock Option. In the case of an Incentive Stock Option, a Stock Appreciation Right may be granted
only at the time of the grant of such Incentive Stock Option.

 

6.2. Terms and Conditions. Stock
Appreciation Rights shall be subject to the following terms and conditions:

 

(a) Exercisability. Stock Appreciation
Rights shall be exercisable as shall be determined by the Committee and set forth in the Agreement, subject, for Stock Appreciation
Rights granted in tandem with an Incentive Stock Option, to the limitations, if any, imposed by the Code with respect to related
Incentive Stock Options.

 

(b) Termination. All or a portion
of a Stock Appreciation Right granted in tandem with a Stock Option shall terminate and shall no longer be exercisable upon the
termination or after the exercise of the applicable portion of the related Stock Option.

 

(c) Method of Exercise. Stock Appreciation
Rights shall be exercisable upon such terms and conditions as shall be determined by the Committee and set forth in the Agreement
and, for Stock Appreciation Rights granted in tandem with a Stock Option, by surrendering the applicable portion of the related
Stock Option. Upon exercise of all or a portion of a Stock Appreciation Right and, if applicable, surrender of the applicable portion
of the related Stock Option, the Holder shall be entitled to receive a number of shares of Common Stock equal to the SAR Value
divided by the Fair Market Value on the date the Stock Appreciation Right is exercised or, at the Company’s election, cash
for the value so calculated.

 

(d) Shares Available Under Plan.
The granting of a Stock Appreciation Right in tandem with a Stock Option shall not affect the number of shares of Common Stock
available for awards under the Plan. The number of shares available for awards under the Plan will, however, be reduced by the
number of shares of Common Stock acquirable upon exercise of the Stock Option to which such Stock Appreciation Right relates.

 

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Section 7. Restricted Stock; Restricted Stock Units.

 

7.1. Grant. Shares of Restricted
Stock may be awarded either alone or in addition to other awards granted under the Plan. The Committee shall determine the eligible
persons to whom, and the time or times at which, grants of Restricted Stock will be awarded, the number of shares to be awarded,
the price (if any) to be paid by the Holder, any Restriction Period, the vesting schedule and rights to acceleration thereof, and
all other terms and conditions of the awards. In addition, the Committee may award Restricted Stock Units, which may be subject
to vesting and forfeiture conditions during the applicable Restriction Period, as set forth in an Agreement.

 

7.2. Restricted Stock Terms and Conditions.
Each Restricted Stock award shall be subject to the following terms and conditions:

 

(a) Certificates. Restricted Stock,
when issued, will be represented by a stock certificate or certificates registered in the name of the Holder to whom such Restricted
Stock shall have been awarded. During the Restriction Period, certificates representing the Restricted Stock and any securities
constituting Retained Distributions (as defined below) shall bear a legend to the effect that ownership of the Restricted Stock
(and such Retained Distributions) and the enjoyment of all rights appurtenant thereto are subject to the restrictions, terms and
conditions provided in the Plan and the Agreement. Such certificates shall be deposited by the Holder with the Company, together
with stock powers or other instruments of assignment, each endorsed in blank, which will permit transfer to the Company of all
or any portion of the Restricted Stock and any securities constituting Retained Distributions that shall be forfeited or that shall
not become vested in accordance with the Plan and the Agreement.

 

(b) Rights of Holder. Restricted
Stock shall constitute issued and outstanding shares of Common Stock for all corporate purposes. The Holder will have the right
to vote such Restricted Stock and to exercise all other rights, powers and privileges of a holder of Common Stock with respect
to such Restricted Stock, with the exceptions that (i) the Holder will not be entitled to delivery of the stock certificate or
certificates representing such Restricted Stock until the Restriction Period shall have expired and unless all other vesting requirements
with respect thereto shall have been fulfilled; (ii) the Company will retain custody of the stock certificate or certificates representing
the Restricted Stock during the Restriction Period; (iii) the Company will retain custody of all dividends and distributions (“Retained
Distributions”) made, paid or declared with respect to the Restricted Stock (and such Retained Distributions will be subject
to the same restrictions, terms and conditions as are applicable to the Restricted Stock) until such time, if ever, as the Restricted
Stock with respect to which such Retained Distributions shall have been made, paid or declared shall have become vested and with
respect to which the Restriction Period shall have expired; and (iv) a breach by the Holder of any of the restrictions, terms or
conditions contained in this Plan or the Agreement or otherwise established by the Committee with respect to any Restricted Stock
or Retained Distributions will cause a forfeiture of such Restricted Stock and any Retained Distributions with respect thereto.

 

(c) Vesting; Forfeiture. Upon the
expiration of the Restriction Period with respect to each award of Restricted Stock and the satisfaction of any other applicable
restrictions, terms and conditions (i) all or part of such Restricted Stock shall become vested in accordance with the terms of
the Agreement, and (ii) any Retained Distributions with respect to such Restricted Stock shall become vested to the extent that
the Restricted Stock related thereto shall have become vested. Any such Restricted Stock and Retained Distributions that do not
vest shall be forfeited to the Company and the Holder shall not thereafter have any rights with respect to such Restricted Stock
and Retained Distributions that shall have been so forfeited.

 

7.3. Restricted Stock Units Terms and
Conditions. Each Restricted Stock Units award shall be subject to the following terms and conditions:

 

(a) Settlement.
The Committee may provide that settlement of Restricted Stock Units will occur upon or as soon as reasonably practicable after
the Restricted Stock Units vest or will instead be deferred, on a mandatory basis or at the Holder’s election, in a manner
intended to comply with Section 409A.

 

(b) Stockholder
Rights. A Holder will have no rights of a holder of Common Stock with respect to shares subject to any Restricted Stock Unit
unless and until the shares are delivered in settlement of the Restricted Stock Unit.

 

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(c) Dividend Equivalents. If the
Committee provides, a grant of Restricted Stock Units may provide a Holder with the right to receive dividend equivalents. Dividend
equivalents may be paid currently or credited to an account for the Holder, settled in cash or shares and subject to the same restrictions
on transferability and forfeitability as the Restricted Stock Units with respect to which the dividend equivalents are granted
and subject to other terms and conditions as set forth in the Agreement.

 

Section 8. Other Stock-Based Awards.

 

Other Stock-Based Awards may be awarded,
subject to limitations under applicable law, that are denominated or payable in, valued in whole or in part by reference to, or
otherwise based on or related to, shares of Common Stock, as deemed by the Committee to be consistent with the purposes of the
Plan, including, without limitation, purchase rights, shares of Common Stock awarded which are not subject to any restrictions
or conditions, convertible or exchangeable debentures, or other rights convertible into shares of Common Stock and awards valued
by reference to the value of securities of or the performance of specified Subsidiaries. These Other Stock-Based Awards may include
performance shares or options, whose award is tied to specific performance goals. Other Stock-Based Awards may be awarded either
alone or in addition to or in tandem with any other awards under this Plan or any other plan of the Company. Each Other Stock-Based
Award shall be subject to such terms and conditions as may be determined by the Committee.

 

Section 9. Accelerated Vesting and Exercisability.

 

9.1. Non-Approved Transactions. If
there is a Change of Control, and the Board does not authorize or otherwise approve such transaction, then the vesting periods
of any and all Stock Options and other awards granted and outstanding under the Plan shall be accelerated and all such Stock Options
and awards will immediately and entirely vest, and the respective holders thereof will have the immediate right to purchase and/or
receive any and all Common Stock subject to such Stock Options and awards on the terms set forth in this Plan and the respective
Agreements respecting such Stock Options and awards, and all performance goals will be deemed achieved at 100% of target levels
and all other terms and conditions will be deemed met.

 

9.2. Approved Transactions. In the
event of an Asset Sale or if there is a Change of Control that has been approved by the Company’s Board of Directors, then
the Committee may (i) accelerate the vesting of any and all Stock Options and other awards granted and outstanding under the Plan;
(ii) require a Holder of any Stock Option, Stock Appreciation Right, Restricted Stock award or Other Stock-Based Award granted
under this Plan to relinquish such award to the Company upon the tender by the Company to Holder of cash, stock or other property,
or any combination thereof, in an amount equal to the Repurchase Value of such award; provided, however, that the obligation to
tender the Repurchase Value to such Holders may be subject to any terms and conditions to which the tender of consideration to
the Company’s stockholders in connection with the acquisition is subject, including any terms and conditions of the acquisition
providing for an adjustment to or escrow of such consideration; and provided, further, that in the case of any Stock Option or
Stock Appreciation Right with an exercise price that equals or exceeds the price paid for a share of Common Stock in connection
with the acquisition, the Committee may cancel the Stock Option or Stock Appreciation Right without the payment of consideration
therefor; and/or (iii) terminate all incomplete performance periods in respect of awards in effect on the date the acquisition
occurs, determine the extent to which performance goals have been met based upon such information then available as it deems relevant
and cause to be paid to the Holder all or the applicable portion of the award based upon the Committee’s determination of
the degree of attainment of performance goals, or on such other basis determined by the Committee.

 

9.3. Code Section 409A. Notwithstanding
any provisions of this Plan or any award granted hereunder to the contrary, no acceleration shall occur with respect to any award
to the extent such acceleration would cause the Plan or an award granted hereunder to fail to comply with Code Section 409A.

 

Section 10. Amendment and Termination.

 

The Board may at any time, and from time
to time, amend alter, suspend or discontinue any of the provisions of the Plan or any Agreement, but no amendment, alteration,
suspension or discontinuance shall be made that would impair the rights of a Holder under any Agreement theretofore entered into
hereunder, without the Holder’s consent, except as set forth in this Plan or the Agreement. Notwithstanding anything to the
contrary herein, no amendment to the provisions of the Plan shall be effective unless approved by the shareholders of the Company
to the extent shareholder approval is necessary to satisfy any provision of the Code or other applicable law or the listing requirements
of any national securities exchange on which the Company’s securities are listed.

 

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Section 11. Term of Plan.

 

11.1. Effective Date. The Plan shall
be effective upon the approval of the Company’s shareholders.

 

11.2. Termination Date. Unless terminated
by the Board, this Plan shall continue to remain effective until such time as no further awards may be granted and all awards granted
under the Plan are no longer outstanding. Notwithstanding the foregoing, grants of Incentive Stock Options may be made only during
the ten-year period beginning on the Effective Date.

 

Section 12. General Provisions.

 

12.1. Written Agreements. Each award
granted under the Plan shall be confirmed by, and shall be subject to the terms of, the Agreement executed by the Company and the
Holder, or such other document as may be determined by the Committee. The Committee may terminate any award made under the Plan
if the Agreement relating thereto is not executed and returned to the Company within 10 days after the Agreement has been delivered
to the Holder for his or her execution.

 

12.2. Unfunded Status of Plan. The
Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With respect to any payments
not yet made to a Holder by the Company, nothing contained herein shall give any such Holder any rights that are greater than those
of a general creditor of the Company.

 

12.3. Employees.

 

(a) Engaging in Competition With the
Company; Solicitation of Customers and Employees; Disclosure of Confidential Information. If a Holder’s employment with
the Company, Parent, Subsidiary or Affiliate is terminated for any reason whatsoever, and Holder (i) within three months after
the date thereof, accepts employment with any competitor of, or otherwise engages in competition with, the Company, Parent, Subsidiary
or Affiliate, (ii) within two years after the date thereof, solicits any customers or employees of the Company, Parent, Subsidiary
or Affiliate to do business with or render services to the Holder or any business with which the Holder becomes affiliated or to
which the Holder renders services or (iii) at any time uses or discloses to anyone outside the Company any confidential information
of the Company, Parent, Subsidiary or Affiliate in violation of the Company’s policies or any agreement between the Holder
and the Company, Parent, Subsidiary or Affiliate, the Committee, in its sole discretion, may require such Holder to return (through
the payment of cash, return and transfer to the Company of shares of Common Stock or by other methods determined by the Committee)
to the Company the economic value of any award that was realized or obtained by such Holder at any time during the period beginning
on the date that is six months prior to the date such Holder’s employment with the Company is terminated; provided, however,
that if the Holder is a resident of the State of California, such right must be exercised by the Company for cash within six months
after the date of termination of the Holder’s service to the Company or within six months after exercise of the applicable
Stock Option, whichever is later. In such event, Holder agrees to (1) remit to the Company, in cash, an amount equal to the difference
between the Fair Market Value of the shares subject to the award on the date of termination (or the sales price of such Shares
if the Shares were sold during such six month period) and the price the Holder paid the Company for such shares, or (2) in the
case of SARs, shall, at the Company’s election, return the full amount paid to the Holder in connection therewith.

 

(b) Termination for Cause. If a
Holder’s employment with the Company, Parent, subsidiary or Affiliate is terminated for cause, the Committee may, in its
sole discretion, require such Holder to return to the Company the economic value of any award that was realized or obtained by
such Holder at any time during the period beginning on that date that is six months prior to the date such Holder’s employment
with the Company is terminated. In such event, Holder agrees to (1) remit to the Company, in cash, an amount equal to the difference
between the Fair Market Value of the shares on the date of termination (or the sales price of such Shares if the shares were sold
during such six month period) and the price the Holder paid the Company for such shares, (2) with the consent of the Company, which
may be withheld for any reason or no reason, surrender to the Company shares of Common Stock having Fair Market Value equal to
the Fair Market Value on the date they were acquired upon exercise of the Option or (3) in the case of SARs, shall return the full
amount paid to the Holder in connection therewith.

 

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(c) No Right of Employment. Nothing
contained in the Plan or in any award hereunder shall be deemed to confer upon any Holder who is an employee of the Company, Parent,
Subsidiary or Affiliate any right to continued employment with the Company, Parent, Subsidiary or Affiliate, nor shall it interfere
in any way with the right of the Company, Parent, Subsidiary or Affiliate to terminate the employment of any Holder who is an employee
at any time.

 

12.4. No Fractional Shares. No fractional
shares of Common Stock shall be issued or delivered pursuant to the Plan. The Committee shall determine whether cash, additional
awards or other securities or property shall be issued or paid in lieu of fractional shares of Common Stock or whether any fractional
shares should be rounded, forfeited or otherwise eliminated.

 

12.5. Provisions for Foreign Participants.
The Committee may modify awards granted to Holders who are foreign nationals or employed outside the United States or establish
subplans or procedures under the Plan to address differences in laws, rules, regulations or customs of such foreign jurisdictions
with respect to tax, securities, currency, employee benefit or other matters.

 

12.6. Limitations
on Liability.

 

(a) Notwithstanding
any other provisions of the Plan, no individual acting as a director, officer, other employee or agent of the Company or any Subsidiary,
Parent or Affiliate will be liable to any Holder, former Holder, spouse, beneficiary, or any other person for any claim, loss,
liability, or expense incurred in connection with the Plan or any award, and such individual will not be personally liable with
respect to the Plan because of any contract or other instrument executed in his or her capacity as member of the Committee, director,
officer, other employee or agent of the Company or any Subsidiary, Parent or Affiliate. The Company will indemnify and hold harmless
each director, officer, other employee and agent of the Company or any Subsidiary, Parent or Affiliate that has been or will be
granted or delegated any duty or power relating to the Plan’s administration or interpretation, against any cost or expense
(including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Committee’s approval)
arising from any act or omission concerning this Plan unless arising from such person’s own fraud or bad faith.

 

(b) Neither the Company
nor any Subsidiary shall be liable to a Holder or any other person as to: (i) the non-issuance or sale of shares as to which the
Company has been unable to obtain from any regulatory body having jurisdiction the authority deemed by the Company’s counsel
to be necessary to the lawful issuance and sale of any shares hereunder; and (ii) any tax consequence expected, but not realized,
by any Holder or other person due to the receipt, exercise or settlement of any Award granted hereunder.

 

12.7. Lock-Up Period.
The Company may, at the request of any underwriter, placement agent or otherwise, in connection with the registered offering of
any Company securities under the Securities Act or pursuant to an exemption therefrom, prohibit Holders from, directly or indirectly,
selling or otherwise transferring any shares or other Company securities acquired under this Plan during a period of up to one
hundred eighty days following either the effective date of a Company registration statement filed under the Securities Act, in
the case of a registered offering, or the closing date of the sale of the Company securities, in the case of an offering exempt
from registration, or for such longer period as determined by the underwriter or placement agent.

 

12.8. Data Privacy. As a condition
for receiving any award, each Holder explicitly and unambiguously consents to the collection, use and transfer, in electronic or
other form, of personal data as described in this paragraph by and among the Company and its Parent, Subsidiaries and Affiliates
exclusively for implementing, administering and managing the Holder’s participation in the Plan. The Company and its Parent,
Subsidiaries and Affiliates may hold certain personal information about a Holder, including the Holder’s name, address and
telephone number; birthdate; social security, insurance number or other identification number; salary; nationality; job title(s);
any shares held in the Company or its Parent, Subsidiaries and Affiliates; and award details, to implement, manage and administer
the Plan and awards (the “Data”). The Company and its Parent, Subsidiaries and Affiliates may transfer the Data amongst
themselves as necessary to implement, administer and manage a Holder’s participation in the Plan, and the Company and its
Parent, Subsidiaries and Affiliates may transfer the Data to third parties assisting the Company with Plan implementation, administration
and management. These recipients may be located in the Holder’s country, or elsewhere, and the Holder’s country may
have different data privacy laws and protections than the recipients’ country. By accepting an award, each Holder authorizes
such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, to implement, administer and
manage the Holder’s participation in the Plan, including any required Data transfer to a broker or other third party with
whom the Company or the Holder may elect to deposit any shares. The Data related to a Holder will be held only as long as necessary
to implement, administer, and manage the Holder’s participation in the Plan. A Holder may, at any time, view the Data that
the Company holds regarding such Holder, request additional information about the storage and processing of the Data regarding
such Holder, recommend any necessary corrections to the Data regarding the Holder or refuse or withdraw the consents in this Section
12.8 in writing, without cost, by contacting the local human resources representative. The Company may cancel Holder’s ability
to participate in the Plan and, in the Committee’s discretion, the Holder may forfeit any outstanding awards if the Holder
refuses or withdraws the consents in this Section 12.8. For more information on the consequences of refusing or withdrawing consent,
Holders may contact their local human resources representative.

 

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12.9. Successor. The obligations
of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation
or other reorganization of the Company, or upon any successor corporation or organization succeeding to all or substantially all
of the assets and business of the Company and its Subsidiaries, taken as a whole.

 

12.10. Investment Representations; Company
Policy. The Committee may require each person acquiring shares of Common Stock pursuant to a Stock Option or other award under
the Plan to represent to and agree with the Company in writing that the Holder is acquiring the shares for investment without a
view to distribution thereof. Each person acquiring shares of Common Stock pursuant to a Stock Option or other award under the
Plan shall be required to abide by all policies of the Company in effect at the time of such acquisition and thereafter with respect
to the ownership and trading of the Company’s securities.

 

12.11. Additional Incentive Arrangements.
Nothing contained in the Plan shall prevent the Board from adopting such other or additional incentive arrangements as it may deem
desirable, including, but not limited to, the granting of Stock Options and the awarding of Common Stock and cash otherwise than
under the Plan; and such arrangements may be either generally applicable or applicable only in specific cases.

 

12.12. Withholding Taxes. Not later
than the date as of which an amount must first be included in the gross income of the Holder for Federal income tax purposes with
respect to any Stock Option or other award under the Plan, the Holder shall pay to the Company, or make arrangements satisfactory
to the Committee regarding the payment of, any Federal, state and local taxes of any kind required by law to be withheld or paid
with respect to such amount. If permitted by the Committee, tax withholding or payment obligations may be settled with Common Stock,
including Common Stock that is part of the award that gives rise to the withholding requirement. The obligations of the Company
under the Plan shall be conditioned upon such payment or arrangements and the Company or the Holder’s employer (if not the
Company) shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise
due to the Holder from the Company or any Subsidiary.

 

12.13. Clawback. Notwithstanding
any other provisions of the Plan, any award which is subject to recovery under any law, government regulation or listing requirement
of any national securities exchange on which the Company’s securities are listed, will be subject to such deductions and
clawback as may be required to be made pursuant to such law, government regulation or listing requirement (or any policy adopted
by the Company pursuant to any such law, government regulation or listing requirement).

 

12.14. Governing Law. The Plan and
all awards made and actions taken thereunder shall be governed by and construed in accordance with the law of the State of Delaware
(without regard to choice of law provisions).

 

12.15. Other Benefit Plans. Any award
granted under the Plan shall not be deemed compensation for purposes of computing benefits under any retirement plan of the Company
or any Parent, Subsidiary or Affiliate and shall not affect any benefits under any other benefit plan now or subsequently in effect
under which the availability or amount of benefits is related to the level of compensation (unless required by specific reference
in any such other plan to awards under this Plan).

 

    C-12

     

    

 

12.16. Non-Transferability. Except
as otherwise expressly provided in the Plan or the Agreement, no right or benefit under the Plan may be alienated, sold, assigned,
hypothecated, pledged, exchanged, transferred, encumbranced or charged, and any attempt to alienate, sell, assign, hypothecate,
pledge, exchange, transfer, encumber or charge the same shall be void.

 

12.17. Applicable Laws. The obligations
of the Company with respect to all Stock Options and other awards under the Plan shall be subject to (i) all applicable laws, rules
and regulations and such approvals by any governmental agencies as may be required, including, without limitation, the Securities
Act, and (ii) the rules and regulations of any securities exchange on which the Common Stock may be listed. Notwithstanding anything
herein to the contrary, the Plan and all awards will be administered only in conformance with such applicable laws. To the extent
such applicable laws permit, the Plan and all Agreements will be deemed amended as necessary to conform to such applicable laws.

 

12.18. Conflicts. If any of the terms
or provisions of the Plan or an Agreement conflict with the requirements of Section 422 of the Code, then such terms or provisions
shall be deemed inoperative to the extent they so conflict with such requirements. Additionally, if this Plan or any Agreement
does not contain any provision required to be included herein under Section 422 of the Code, such provision shall be deemed to
be incorporated herein and therein with the same force and effect as if such provision had been set out at length herein and therein.
If any of the terms or provisions of any Agreement conflict with any terms or provisions of the Plan, then such terms or provisions
shall be deemed inoperative to the extent they so conflict with the requirements of the Plan. Additionally, if any Agreement does
not contain any provision required to be included therein under the Plan, such provision shall be deemed to be incorporated therein
with the same force and effect as if such provision had been set out at length therein.

 

12.19. Compliance with Section 409A of
the Code. The Company intends that any awards be structured in compliance with, or to satisfy an exemption from, Section 409A
of the Code, such that there are no adverse tax consequences, interest, or penalties pursuant to Section 409A of the Code as a
result of the awards. Notwithstanding the Company’s intention, in the event any award is subject to Section 409A of the Code,
the Committee may, in its sole discretion and without a participant’s prior consent, amend this Plan and/or outstanding Agreements,
adopt policies and procedures, or take any other actions (including amendments, policies, procedures and actions with retroactive
effect) as are necessary or appropriate to (i) exempt this Plan and/or any award from the application of Section 409A of the Code,
(ii) preserve the intended tax treatment of any such award, or (iii) comply with the requirements of Section 409A of the Code,
including without limitation any such regulations guidance, compliance programs and other interpretive authority that may be issued
after the date of grant of an award. This Plan shall be interpreted at all times in such a manner that the terms and provisions
of the Plan and the awards are exempt from or comply with Section 409A of the Code.

 

12.20. Sub-Plans. The Committee may
from time to time establish sub-plans under the Plan for purposes of satisfying blue sky, securities, tax or other laws of various
jurisdictions in which the Company intends to grant awards. Any sub-plans shall contain such limitations and other terms and conditions
as the Committee determines are necessary or desirable. All sub-plans shall be deemed a part of the Plan, but each sub-plan shall
apply only to the participants in the jurisdiction for which the sub-plan was designed.

 

12.21. Non-Registered Stock. The
shares of Common Stock to be distributed under this Plan have not been, as of the Effective Date, registered under the Securities
Act or any applicable state or foreign securities laws and the Company has no obligation to any Holder to register the Common Stock
or to assist the Holder in obtaining an exemption from the various registration requirements, or to list the Common Stock on a
national securities exchange or any other trading or quotation system.

 

12.22. Non-Uniform Treatment. The
Committee’s determinations under the Plan need not be uniform and may be made by it selectively among persons who are eligible
to receive, or actually receive, awards. Without limiting the generality of the foregoing, the Committee shall be entitled to make
non-uniform and selective determinations, amendments and adjustments, and to enter into non-uniform and selective Agreements.

 

 

C-13

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