Document:

Exhibit 10.8

   
   

   
  Lugano, November 2, 2020

   
   

   
  	Re:	Your employment at GT Gain Therapeutics SA, Lugano:

   
   

   
  Dear Mr. Calabrese:

   
   

   
  In accordance with our previous understandings, we wish to confirm that it is the
      intention of GT Gain Therapeutics SA, (hereinafter the “Company”) to enter into this indefinite term employment agreement upon the terms and conditions hereinafter specified.

   
   

   
  	1.	Duties – Place of work

   
   

   
  	

        	1.1	You will be employed by the Company as Executive, effective from November 2nd, 2020, to perform the duties of “Chief Financial Officer” of the Company on a full time basis and reporting ultimately to the Chief Executive Officer of
            Gain Therapeutics Inc (hereinafter the “Parent Company”).

   
   

   
  	

        	1.2	Your position implies that you may be appointed to corporate offices (e-g. director,
            managing director, chief financial officer, representative of a branch) in the Parent Company and/or other Gain Therapeutics Group companies. You hereby acknowledge that the compensation provided for under paragraph 2.1 below has been
            negotiated also in order to compensate any services rendered by you in the above corporate offices and therefore you shall not be entitled to any further or specific compensation for any such corporate offices.

   
   

   
  	

        	1.3	As an employee of the Company, you hereby undertake, for as long as you are employed,
            to devote your attention and ability to the duties of your employment, and faithfully and diligently perform your duties and exercise only such powers as are consistent with them. In particular, you shall (i) comply with all lawful and
            reasonable directions given by the Chief Executive Officer of the Parent Company or the persons/committees delegated by the Chief Executive Office of the Parent Company, (ii) use your reasonable endeavours to promote the interests of the
            Company and (iii) keep the Chief Executive Officer of the Parent Company informed (in writing if so requested) of your conduct of business and provide such explanations as they may reasonably require.

   
   

   
  	

        	1.4	You will be based in the office of GT Gain Therapeutics SA located in Via Pietro Peri
            9D, Lugano which is your primary working place however you can also work from your home unless you will be required to be physically present in Lugano. The fulfilment of your responsibilities may also make it necessary for you to travel abroad.

   
   

   
  	

        	2.	Compensation

   
   

   
  	

        	2.1	As compensation for the services rendered in favour of the Company, you will receive a
            base salary of Euro 220,000.00 (hereinafter the “Base Salary”), gross of any applicable tax and social security withholdings. Your Base Salary shall be reviewed annually by the Chief Executive Officer of the Parent Company and in light of such
            review may be increased (but not decreased) taking into account any change in your responsibilities, your performance and any other factors the Board of Directors and President deems relevant. In addition, you will be paid a signing bonus of
            Euro 18,500.

   
   

   
  	

        	2.3	The Base Salary wiil be paid in 12 (twelve) monthly instalments, gross of any
            applicable tax and social security withholdings to be paid on the 26th day of each month.

   
   

    
  
     

    
      
 

  

  
   

   
  	

        	2.4	You hereby undertake not to disclose and keep confidential the terms of your economic
            treatment. You hereby waive any privacy or confidentiality rights you may have if the Company is required to or chooses to disclose, including publicly, the terms of your economic treatment, including fling this Agreement as an exhibit to its
            registration statements or reports filed with the Securities and Exchange Commission, other regulators and/or any securities exchange upon which the Company’s securities are listed or traded.

   
   

   
  	3.	Fringe Benefits

   
   

   
  	

        	3.1	The Company will provide you with a laptop and mobile phone for the performance of
            your duties. In case you decide to use your personal mobile phone the Company will recognize a fixed monthly reimbursement of Euro 100. In such case you will be entitled to use such phone also for private purposes in accordance with the
            Company’s internal regulation in its respective relevant version and in compliance with the applicable tax and social security regulations in force in Switzerland.

   
   

   
  	

        	3.2	You will be eligible for all general employee benefit plans and programs provided to
            all employees of the Company, including improvements or modifications of the same.

   
   

   
  	4.	Bonus

   
   

   
  	

        	4.1	You may be eligible to receive an annual bonus in cash (hereinafter, the “Bonus”)

            in accordance with the Company’s internal rules as applied from time to time, targeted at 30% of your Base Salary, upon achievement of the objectives to be determined by the Chief Executive Officer of the Parent Company.

   
   

   
  	

        	4.2	All bonuses will be awarded at the sole discretion of the Company. Therefore, the
            granting of a Bonus in a given year will not entitle you to receive the Bonus in the following years.

   
   

   
  	

        	4.3	You shall be eligible to participate in a stock option plan and entitles to receive an
            amount of stock option representing 1% of the Parent Company capital and according to the terms and conditions of the related incentive plan reserved to employees, consultants and collaborators. At any time that the Parent Company capital
            increases, you will be entitled to receive additional grants so that your options pool will be not less than 1% of the Company’s valuation.

   
   

   
  	5.	Working time

   
   

   
  	

        	5.1	In light of the particular duties pertaining to your employment relationship, you shall not be subject to a specific working time (the
            average of 40 hours weekly working time shall be a guideline) and, therefore, you shall not be entitled to any further compensation in addition to your Base Salary, nor you shall be entitled to specific pay for overtime. In any case, you
            undertake to commit 100% of your professional time to the services to be rendered in favour of the Company pursuant to this agreement.

   
   

   
  	6.	Term

   
   

   
  	

        	6.1	Your employment relationship shall be effective from November 2nd, 2020 and shall be deemed for an indefinite term, commencing from the
            date hereof.

   
   

   
  	7.	Duty of loyalty, confidentiality and other duties

   
   

   
  	

        	7.1	During the performance of your employment relationship with the Company, you undertake not to engage in any activities, directly or
            indirectly, which can be deemed in violation of your duty of loyalty towards the Company including - whether alone or jointly with any other person, company or entity, and whether directly or indirectly, and whether as director, officer, agent,
            promoter, manager, employee or consultant of, in or to any other person, company or entity - carrying out any activities in competition with the business of the Company.

   
   

    
  
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        	7.2	You shall not, at any time - whether during the term of the employment with the
            Company or after its termination, for any reason - divulge to any other entity or person any confidential information concerning the Company’s financial affairs or business processes or methods or its research, development or marketing programs
            or plans, any of its trade secrets, any of its customers and suppliers. You acknowledge that all information, the disclosure of which is prohibited under these provisions, is of a confidential and proprietary character and of great value to the
            Company.

   
   

   
  	

        	7.3	You further agree to deliver promptly to the Company, upon termination of the
            employment with the Company for any reason, or at any time that the Company may so request, all confidential memoranda, notes, records, reports, manuals, drawings, software, electronic/digital media records, and other documents (and all copies
            thereof) relating to the Company’s business and all property associated therewith, which you may then possess or have under your control.

   
   

   
  	8.	Restrictive covenants

   
   

   
  	

        	8.1	You hereby further covenant and undertake to the Company that you will not:

   
   

   
  	

        	(i)	solicit, approach or entice away from the Company any officer, employee, consultant or
            agent whether or not that person would commit a breach of his/her employment/ consultancy/agency agreement by reason of leaving service;

   
   

   
  	

        	(ii)	canvass, solicit, approach or entice away from the Company any person/company who is a
            customer of the Company;

   
   

   
  	

        	(iii)	canvass, solicit, approach or entice away from the Company any person/company
            who/which supplied good or services to the Company during the performance of your employment relationship, or interfere or seek to interfere or take steps which may interfere with supplies to the Company or with the terms of business relating
            to such supplies.

   
   

   
  	

        	8.2	It is understood that you cannot carry out any of the activities under paragraph 8.1
            above whether directly or indirectly, whether alone or jointly with any other person, company or entity, and whether as shareholder, director, manager, officer, employee, agent, promoter, consultant of, in or to any other person, company or
            entity.

   
   

   
  	

        	8.3	You shall procure that, except as provided for under paragraph 8.1 above, no entity
            owned or controlled directly or indirectly by you (whether alone or together with one or more persons) will act in such a way as would be a breach of the obligations contained in this Section 8 if you were so to act.

   
   

   
  	9.	Business travel

   
   

   
  	

        	9.1	You are entitled to obtain reimbursement of the relevant out of pocket expenses borne in connection with performance of business travels,
            upon delivery of the pertinent documentation, which has to be in compliance with the applicable tax regulations and Company’s policy in its respective relevant version.

   
   

    
  
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  	10.	Holidays

   
   

   
  	

        	10.1	You are entitled to an annual paid vacation period equal to 25 (twenty-five) business days that may be carried over from year-to-year. You
            shall be entitled to a cash payment for any unused paid time off days.

   
   

   
  	11.	Termination

   
   

   
  	

        	11.1	Each of the parties may terminate the employment relationship for the reasons and
            following the procedures set forth in statutory provisions and in the applicable law.

   
   

   
  	

        	11.2	Employment may be terminated by either party as of the end of the month, with a notice
            period of six months. Notice must in any case be given in writing.

   
   

   
  	

        	11.3	After termination of the employment relationship you are bound by the restrictions as
            set out by law or in this employment agreement, your duty of confidentiality according to clause 7.2 of this agreement persist without limitation during the notice period as well as for the time after termination of this employment
            relationship.

   
   

   
  	

        	11.4	Upon termination of your employment relationship, irrespective of the reason thereto,
            you shall be obliged to return all material and property belonging to the Company.

   
   

   
  	

        	11.5	Upon termination of your employment relationship, irrespective of the reason thereto,
            you shall be entitled to (a) all accrued but unpaid Base Salary and benefits up to and including the date of termination, or, in the case of your death, accrued to the last day of the month in which the death occurs, (b) exercise your vested
            options to purchase ordinary shares of the Company in accordance with the terms set forth herein, except in the case of your death or disability, in which case you or your estate, as applicable, shall have the right to exercise all vested
            options, at a minimum, during the one year period from the date of death or disability, and (c) any payment owed or due to you, but not yet paid, pursuant to your Bonus.

   
   

   
  	

        	11.6	Where a Change In Control occurs (as defined below) and/or your employment is
            terminated even without Cause (as defined below), by the Company or by you within 24 (twenty four) months from the date of the Change of Control or you resign within 24 months of the date of the Change In Control and/or for Good Reason (as
            defined below), you will be entitled to receive, severance pay equal to (a) an amount equal to the aggregate of (i) 2.0 times your annual Base Salary in effect at such time of termination, (ii) 2.0 times the greater of the average of the
            Bonuses received in the last 3 years of employment or the targeted Bonus for the year in which you are terminated or resign and (iii) the prorated targeted Bonus for the year in which you are terminated or resign as accrued in the course of the
            year of termination or resignation. In addition, in such a situation, all your unvested stock options will become fully vested and exercisable of the date of termination or resignation of employment and shall be exercisable for a period of 90
            days after the date of termination or resignation. Finally, you shall be entitled to reimbursment of any legal expenses incurred in the course of enforcing amounts due under the paragraph 11.6

   
   

   
  	

        	11.7	Should you elect to receive the severance payment referred to in paragraphs 11.6
            above, no further sum shall be due and payable by the Company including but not limited to the notice period indemnity and the other indemnities and damages as well as any damages whatsoever. The payment of the relevant severance will be
            conditioned upon the execution by you of a waiver and release in the form established by the Company.

   
   

    
  
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  	12.	Definitions

   
   

   
  “Change In Control” shall mean:

   
   

   
  	

        	(a)	The consummation of a merger or consolidation of the Company with or into another
            entity or any other corporate reorganization, if more than 50% of the combined voting power of the continuing or surviving entity’s securities outstanding immediately after such merger, consolidation or other reorganization is owned by persons
            who were not shareholders of the Company immediately prior to such merger, consolidation or other reorganization;

   
   

   
  	

        	(b)	The date a majority of members of the Board is replaced during any 12-month period
            with directors whose appointment or election is not endorsed by a majority of the members of the Board or a majority of the Directors then comprising the Nominating and Corporate Governance Committee before the date of the appointment or
            election (the “Incumbent Board”); provided, that any individual who was initially elected as a Director of the Company as a result of an actual or threatened election contest, as such terms are used in Rule 14a-11 of Regulation 14A
            promulgated under the Exchange Act, or any other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the Board shall not be deemed a member of the Incumbent Board;

   
   

   
  	

        	(c)	The sale, transfer or other disposition of all or substantially all of the Company’s assets;

   
   

   
  	

        	(d)	Any transaction as a result of which any person, or more than one person acting as a
            group becomes the beneficiary, owner and/or “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, (or has, during the twelve (12) month period ending on the date of the most recent acquisition by such
            person or group, become the beneficiary, owner and/or “beneficial owner,” directly or indirectly) of securities of the Company representing at least 30% of the total voting power represented by the Company’s then outstanding voting securities.
            For purposes of this Paragraph (c), the term “person” shall indicate any person and/or entity except for:

   
   

   
  	

        	(i)	A trustee or other fiduciary holding securities under an employee benefit plan of the Company or a
            subsidiary of the Company;

   
   

   
  	

        	(ii)	A corporation owned directly or indirectly by the shareholders of the Company in
            substantially the same proportions as their ownership of Shares; and

   
   

   
  	

        	(iii)	The Company.

   
   

   
  “Termination for Cause” shall mean a termination by the Company when
      there is a cause triggering a termination without notice. By way of example, Cause shall mean any of the following: (i) your commitment of a felony or of any criminal act (not including traffic misdemeanors) involving moral turpitude which results in
      a conviction; (ii) your deliberate and continual refusal to perform satisfactorily in all material respects employment duties not inconsistent with this Agreement; (iii) an act of fraud or embezzlement by you; (iv) your wilful misconduct or
      negligence having a material adverse effect on the Company’s business; or (v) a material breach of this Agreement, including the loyalty provisions set forth in Paragraph 8.1, the Company’s code of conduct, the Company’s code of ethics or the
      Company’s insider trading policy. Determination as to whether or not a Cause exists for termination of the employment will be made in accordance with Swiss-laws.

   
   

   
  “Resignation with Good Reason” shall mean a resignation of the
      employment by you due to (i) a material breach by the Company of its obligations under this Agreement, (ii) a material diminution of your authority, duties or responsibilities (including status, offices, titles and reporting requirements) so as to
      qualify a demotion, (iii) a material reduction in your Base Salary.

   
   

    
  
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  	13.	Social security, tax at source and family allowances

   
   

   
  	

        	13.1	The premiums for social security insurances prescribed by statute as well as any state
            impositions (such as but not limited to source taxes) according to the applicable law are deducted from the salary payments and from any other payment subject to such deductions.

   
   

   
  	

        	13.2	If you are subject to the Swiss social security system, you are insured under the
            LAINF (Accident Insurance Law) against occupational accidents and against non-occupational accidents. The consequences of an accident are additionally covered by a complementary insurance (accident insurance in addition). The premiums for the
            occupational accident insurance are borne in full by the employer. The premiums for the non-occupational insurance and the complementary insurance are borne 50% by each party.

   
   

   
  	

        	13.3.	You are admitted to the Company’s pension scheme, if you are subject to the Swiss social security system. In this case, the pension scheme
            benefits and the contributions to be paid are determined by the regulations in its respective relevant version.

   
   

   
  	14.	Sickness and salary continuation

   
   

   
  Salary continuation in the event of sickness is governed by prescription
      of the law. In the event that the you are subject to the Swiss social security system, there exists an illness daily allowance insurance.

   
   

   
  The scope and term of the insurance benefits paid in this case are
      determined by the condition of the insurance contract in force at the time, whereby the premiums are borne 50% by each party. Benefits paid by the insurance supersede entitlements for salary continuation according to the prescriptions of the law. The
      premiums are borne by employee and employer 50% each.

   
   

   
  	15.	Notice

   
   

   
  	

        	15.1	Any notice or other communication to be given under this Agreement shall be in writing and addressed as follows:

   
   

   
  	

        	    -	for the Company:

    
  GT Gain Therapeutics SA

   
  Via Pietro Peri no. 9D 6900 Lugano, Switzerland

   
   

   
  	

        	    -	for Mr. Salvatore Calabrese:

   
  Via Quintino Sella 2, 20121 Milano, Italia

   
   

   
  	16.	Governing law and Jurisdiction

   
   

   
  	

        	16.1	Any other terms and conditions of your employment not expressly regulated herein shall be governed by the applicable provisions of Swiss
            law, which governs this contract and the relevant employment relationship.

   
   

   
  
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  	17	Final provisions

   
   

   
  	

        	17.1	This agreement is contingent upon issuance of the legally required permit authorizing the employee to
            perform work for employer in Switzerland.

   
   

   
  	

        	17.2	Amendments to this agreement can only be agreed upon in writing

   
   

   
  On behalf of GT Gain Therapeutics SA 

   
   

   
  Dr. Lorenzo Leoni, Chairman 

   
   

   
  	Place and date, Lugano Nov 2, 2020

   
   

   
  	/s/ Lorenzo Leoni	 
	Dr. Lorenzo Leoni	 

   
   

   
  For full acceptance of the above terms

   
   

   
  Mr. Salvatore Calabrese

   
   

   
  Place and date, Lugano 11/2/2020

    
  DocuSigned by:

   
   

   
  	/s/ Salvatore Calabrese	 

   
   

   
  
    7Exhibit 10.10

    

     

    

    
      EXCHANGE AGREEMENT

      

      

      THIS EXCHANGE AGREEMENT (the “Agreement”) is dated as of July      , 2020, by and among GAIN THERAPEUTICS, INC., a
        Delaware corporation, with headquarters located at _______________________ (the “Company”), GT Gain Therapeutics SA, a Swiss company (“GT Gain SA”) and
        ________________, with a mailing address of ______________________________________ (the “Investor”).

      

      

      WHEREAS:

      

      

      A.          The Investor holds _______shares (the “GT Gain Common Shares”) of common stock, $1.00 par value (“GT Common
          Stock”) [and _______ shares of Series A Preferred Stock, $1.00 par value (the “GT Gain Preferred Shares” [together with the shares of GT Common Stock,] (the “GT Gain
          Shares”), of GT Gain SA;

      

      

      B.          The Company, GT Gain SA and the Investor desire to enter into this Agreement, pursuant to which the Company and the Investor shall exchange the GT Gain Common Shares for _______ shares
        (the “Gain US Shares”) of the Company’s common stock, $0.0001 par value (the “Common Stock”) [and the GT Gain Preferred Shares for ____ shares of the Company’s Series A
        Preferred Stock (the “Gain US Preferred Shares” and together with the Gain US Common Shares,] the “Gain US Shares”; and

      

      

      C.          The exchange of the GT Gain Shares for the Gain US Shares is being made in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as
        amended (the “Securities Act”) or Regulation S promulgated thereunder.

      

      

      NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants hereinafter contained, the parties hereto agree as follows:

      

      

      1.          EXCHANGE.

      

      

      1.1          Exchange. Subject to the terms and conditions contained herein, the Investor and the Company hereby agree to exchange the GT Gain Shares for the Gain US Shares (the “Exchange”) on the date on which  all of the conditions set forth in Section 4 have been satisfied or waived, or such other date mutually agreed to by the parties (the “Closing
          Date”).

      

      

      1.2          Delivery. In exchange for the GT Gain Shares, the Company shall deliver or cause to be delivered to the Investor the Gain US Shares.

      

      

      2.          COMPANY REPRESENTATIONS AND WARRANTIES.

      

      

      As a material inducement to the Investor to enter into this Agreement and consummate the Exchange, the Company represents, warrants and covenants with and to the Investor and GT Gain SA as follows:

      

      

      2.1          Organization; Capitalization.

      

      

      (a)          The Company is duly organized and validly existing in good standing under the laws of the jurisdiction in which it was formed and has the requisite power and authority to own its
        properties and to carry on its business as now being conducted. The Company is not a party to any joint venture and does not directly or indirectly own or hold capital stock or an equity or similar interest in any entity. The Company is duly
        qualified as a foreign entity to do business and is in good standing in every jurisdiction in which its ownership of property or the nature of the business conducted by it makes such qualification necessary, except to the extent that the failure to
        be so qualified or be in good standing would not have a material adverse effect on (i) its financial condition, business, assets, prospects or results of operations, taken as a whole, (ii) its ability to perform its obligations under this Agreement
        (herein, a “Material Adverse Effect”).

      

      

      
        
          

      

      
      

      

       

      (b)          The authorized capital stock of the Company after sale of the $8,000,000 of Series B Preferred Stock will consist of (i) 50,000,000 shares of Common Stock, (ii) 10,000,000 shares of
        Preferred Stock, of which 1,346,390 shares shall be designated Series A convertible preferred stock and 3,367,003 shares shall be designated Series B convertible preferred stock.  As of the Closing Date, there are 1,772,736 shares of Common Stock
        of the Company issued and 536,913 shares of Common Stock reserved for issuance under the Company’s 2020 Equity Incentive Plan.  The Company has no plans or commitments to issue any securities other than the issuance of shares of Common Stock and
        Series A Preferred Stock to the holders of equity of  GT Gain SA, the issuance and sale of up to a maximum of 3,367,003 shares of Series B Preferred Stock in the Series B Preferred Stock offering and the issuance of warrants to Tribal Capital
        Markets, LLC, the placement agent for the Series B Preferred Stock offering (the “Placement Agent”) to purchase shares of Common Stock representing 8% of the number of shares of Series B Preferred Stock sold
        in the Series B Preferred Stock offering. All of the issued and outstanding Common Stock, Series A Preferred Stock and Series B Preferred Stock are or on the Closing date when issued will be duly authorized, validly issued, fully paid,
        non-assessable and free of all preemptive rights. Other than warrants to purchase 8% of the number of shares of Series B Preferred Stock issued in the Company’s current offering, there are no outstanding or authorized options, warrants, rights,
        agreements or commitments to which the Company is a party or which are binding upon the Company providing for the issuance or redemption of any of its capital stock. There are no outstanding or authorized stock appreciation, phantom stock or
        similar rights with respect to the Company. Except for the Voting Agreement, Right of First Refusal and Co-Sale Agreement and Investor Rights Agreement  to be executed by the Investor and the holders of Series B Preferred Stock, there are no
        agreements to which the Company is a party or by which it is bound with respect to the voting (including without limitation voting trusts or proxies), registration under the Securities Act, or sale or transfer (including without limitation
        agreements relating to pre-emptive rights, rights of first refusal, co-sale rights or “drag-along” rights) of any securities of the Company. All of the issued and outstanding shares of capital stock of the Company were issued in compliance with
        applicable federal and state securities laws.

      

      

      2.2          Authority; Execution and Delivery; Enforceability.

      

      

      (a)          The Company has all requisite power, authority and legal capacity to execute and deliver this Agreement to perform its obligations hereunder and to consummate the Exchange. The
        execution, delivery and performance of this Agreement and the consummation of the Exchange has been duly authorized and approved by all required action on the part of the Company and, no other corporate or other proceedings on the part of the
        Company are necessary to authorize this Agreement and the transactions contemplated hereby.

      

      

      (b)          This Agreement has been duly authorized, executed and delivered and constitutes, the valid and binding obligation of the Company, enforceable against the Company in accordance with
        its terms (i) except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect related to laws affecting creditors’ rights generally, including the effect of
        statutory and other laws regarding fraudulent conveyances and preferential transfers, and except that no representation is made herein regarding the enforceability of the Company’s obligations to provide indemnification and contribution remedies
        under the securities laws and (ii) subject to the limitations imposed by general equitable principles (regardless of whether such enforceability is considered in a proceeding at law or in equity).

      

      

      (c)          The issuance of the Gain US Shares is duly authorized and upon issuance, in accordance with the terms of this Agreement, shall be validly issued, fully paid and non-assessable and
        free from all taxes, liens, charges and other encumbrances with respect to the issue thereof with the holders being entitled to all rights accorded to a holder of Preferred Stock or Common Stock, as applicable.

      

      

      2.3          No Conflicts. Neither the execution and delivery of or performance by the Company under this Agreement nor the consummation of the transactions herein contemplated conflicts
        with or violates, or will result in the creation or imposition of, any lien, charge or other encumbrance upon any of the assets of the Company under any agreement or other instrument to which the Company is a party or by which the Company or its
        assets may be bound, or any term of the Company’s Amended and Restated Certificate of Incorporation or By-laws of the Company, or any license, permit, judgment, decree, order, statute, rule or regulation applicable to the Company or any of its
        assets, except in the case of a conflict, violation, lien, charge or other encumbrance (except with respect to the Company’s Amended and Restated Certificate of Incorporation or By-laws) which would not reasonably be expected to, have a Material
        Adverse Effect on the Company.

      

      

      
        2

        
          

      

      

      

       

      2.4          Indebtedness. The Company  (i) has no outstanding Indebtedness, (ii) is not a party to any contract, agreement or instrument, the violation of which, or default under which, by
        the other party(ies) to such contract, agreement or instrument would result in a Material Adverse Effect, or (iii) is not in violation of any term of or in default under any contract, agreement or instrument relating to any Indebtedness, except
        where such violations and defaults would not result, individually or in the aggregate, in a Material Adverse Effect.  For the purposes of this Agreement, the term “Indebtedness” means (A) all indebtedness for
        borrowed money, (B) all obligations issued, undertaken or assumed as the deferred purchase price of property or services including (without limitation) “Capital Leases” (as defined under GAAP) (other than
        trade payables entered into in the ordinary course of business), (C) all reimbursement or payment obligations with respect to letters of credit, surety bonds and other similar instruments, (D) all obligations evidenced by notes, bonds, debentures
        or similar instruments, including obligations so evidenced incurred in connection with the acquisition of property, assets or businesses, (E) all indebtedness created or arising under any conditional sale or other title retention agreement, or
        incurred as financing, in either case with respect to any property or assets acquired with the proceeds of such indebtedness (even though the rights and remedies of the seller or bank under such agreement in the event of default are limited to
        repossession or sale of such property), (F) all monetary obligations under any leasing or similar arrangement which, in connection with GAAP, consistently applied for the periods covered thereby, is classified as a capital lease, (G) all
        indebtedness referred to in clauses (A) through (F) above secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any mortgage, lien, pledge, charge, security interest or other
        encumbrance upon or in any property or assets (including accounts and contract rights) owned by any person, even though the person which owns such assets or property has not assumed or become liable for the payment of such indebtedness, and (H)
        except for obligations owed to service providers of in connection with this Agreement and the transactions contemplated herein, all contingent obligations in respect of indebtedness or obligations of others of the kinds referred to in clauses (A)
        through (G) above.

      

      

      2.5          Governmental Authorizations. The Company has obtained all material licenses, permits and other governmental authorizations necessary to conduct its business as presently
        conducted. The Company has not received any written notice of any violation of, or noncompliance with, any federal, state, local or foreign laws, ordinances, regulations and orders (including, without limitation, those relating to environmental
        protection, occupational safety  and health, securities laws, equal employment opportunity, consumer protection, credit reporting, “truth-in-lending”, and warranties and trade practices) applicable to its business, the violation of, or
        noncompliance with, would have an Material Adverse Effect on the Company, and the Company knows of no facts or set of circumstances which could give rise to such a notice.

      

      

      2.6          Securities Law Exemptions. Assuming the accuracy of the representations and warranties of the Lender contained herein, the offer and issuance by the Company of the Gain US
        Shares is exempt from registration under the Securities Act.

      

      

      2.7          Company Agreements. No default by the Company or, to the knowledge of the Company, any other party, exists in the due performance under any material agreement to which the
        Company is a party or to which any of its assets is subject (collectively, the “Company Agreements”). The Company Agreements are in full force and effect in accordance with their respective terms, subject to
        any applicable bankruptcy, insolvency or other laws affecting the rights of creditors generally and to general equitable principles and the availability of specific performance.

      

      

      2.8          Intellectual Property. The Company owns all right, title and interest in, or possesses enforceable rights to use, all patents, patent applications, trademarks, service marks,
        copyrights, rights, licenses, franchises, trade secrets, confidential information, processes and formulations necessary for the conduct of its business as now conducted (collectively, the “Intellectual Property”).

        To the knowledge of the Company, the Company has not infringed upon the rights of others with respect to the Intellectual Property and, the Company has not received written notice that it has or may have infringed or is infringing upon the
        rights of others with respect to the Intellectual Property, or any written notice of conflict with the asserted rights of others with respect to the Intellectual Property. To the knowledge of the Company, no others have infringed upon the rights of
        the Company with respect to the Intellectual Property. None of the Company’s Intellectual Property have expired or terminated, or are expected to expire or terminate, within three years from the date of this Agreement.

      

      

      
        3

        
          

      

      

      

       

       2.9          Employee Matters. The Company is not a party to any collective bargaining agreement nor does it employ any member of a union. No executive officer of the Company (as defined in
        Rule 501(f) of the Act) has notified the Company that such officer intends to leave the Company or otherwise terminate such officer’s employment with the Company. No executive officer of the Company, to the knowledge of the Company, is in violation
        of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement, non- competition agreement, or any other contract or agreement or any restrictive covenant, and the continued employment of each such
        executive officer does not subject the Company to any liability with respect to any of the foregoing matters. The Company is in compliance with all federal, state, local and foreign laws and regulations respecting labor, employment and employment
        practices and benefits, terms and conditions of employment and wages and hours, except where failure to be in compliance would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect on the
        Company.

      

      

      2.10          Proceedings. There are no actions, suits, claims, hearings or proceedings pending before any court or governmental authority or, to the knowledge of the Company, threatened,
        against the Company, or involving its assets or any of its officers or directors (in their capacity as such) which, if determined adversely to the Company or such officer or director, could reasonably be expected to have a Material Adverse Effect
        on the Company or adversely affect the transactions contemplated by this Agreement or the enforceability thereof.

      

      

      2.11          Compliance. The Company is not: (i) in violation of its Certificate of Incorporation or By-laws; (ii) in default of any indenture, mortgage, deed of trust, note or other
        agreement or instrument to which the Company is a party or by which it is or may be bound or to which any of its assets may be subject, the default of which could reasonably be expected to have a Material Adverse Effect on the Company; (iii) in
        violation of any statute, rule or regulation applicable to the Company, the violation of which would have a Material Adverse Effect on the Company; or (iv) in violation of any judgment, decree or order of any court or governmental body having
        jurisdiction over the Company and specifically naming the Company, which violation or violations individually, or in the aggregate, could reasonably be expected to have a Material Adverse Effect on the Company.

      

      

      2.12          Related Party Transactions. As of the date of this Agreement, no current or former stockholder, director, officer or employee of the Company, nor, to the knowledge of the
        Company, any affiliate of any such person is presently, directly or indirectly through his affiliation with any other person or entity, a party to any loan from the Company or any other transaction (other than as an employee) with the Company
        providing for the furnishing of services by, or rental of any personal property from, or otherwise requiring cash payments to any such person.

      

      

      2.13          Taxes.  The Company has filed, on a timely basis, each federal, state, local and foreign tax return, report and declarations that were required to be filed, or has requested an
        extension therefor and has paid all taxes and all related assessments, charges, penalties and interest to the extent that the same have become due. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any
        jurisdiction, and the officers of the Company know of no basis for any such claim.  The Company has not executed a waiver with respect to the statute of limitations relating to the assessment or collection of any foreign, federal, state or local
        tax. To the Company’ knowledge, none of the Company’ tax returns are presently being audited by any taxing authority. No liens have been filed and no claims are being asserted by or against the Company with respect to any taxes (other than liens
        for taxes not yet due and payable). The Company has not received written notice of assessment or proposed assessment of any taxes claimed to be owed by it or any other person on its behalf. The Company is not a party to any tax sharing or tax
        indemnity agreement or any other agreement of a similar nature that remains in effect. The Company has complied in all material respects with all applicable legal requirements relating to the payment and withholding of taxes and, within the time
        and in the manner prescribed by law, has withheld from wages, fees and other payments and paid over to the proper governmental or regulatory authorities all amounts required. All share transfer or other taxes (other than income or similar taxes)
        which are required to be paid in connection with the issuance of the Gain US Shares to be exchanged with the Investor hereunder will be, or will have been, fully paid or provided for by the Company, and all laws imposing such taxes will be or will
        have been complied with.

      

      

      
        4

        
          

      

      

      

       

      3.          INVESTOR’S REPRESENTATIONS AND WARRANTIES.

      

      

      As a material inducement to the Company to enter into this Agreement and consummate the Exchange, Investor represents, warrants and covenants with and to the Company as follows:

      

      

      3.1          Authorization and Binding Obligation. The Investor has the requisite legal capacity, power and authority to enter into, and perform under, this Agreement and to exchange the GT
        Gain Shares for the Gain US Shares being issued to such Investor hereunder. The execution, delivery and performance of this Agreement and the consummation by such Investor of the transactions contemplated hereby have been duly authorized by all
        requisite corporate, partnership or similar action on the part of such Investor and no further consent or authorization is required. This Agreement has been duly authorized, executed and delivered. This Agreement constitutes the legal, valid and
        binding obligation of the Investor, enforceable against the Investor in accordance with its terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
        liquidation or similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies and except as rights to indemnification and to contribution may be limited by federal or state securities laws.

      

      

      3.2          Beneficial Owner.  The Investor owns, good and marketable title to the GT Gain Shares, free and clear of any liens or encumbrances and the GT Gain Shares have not been pledged
        to any third party. The Investor has not sold, assigned, conveyed, transferred, mortgaged, hypothecated, pledged or encumbered or otherwise permitted any lien to be incurred with respect to the GT Gain Shares, the Gain US Shares or any portion
        thereof.

      

      

      3.3          Accredited Investor.  The Investor is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D and would not be disqualified under Rule 506(d) of the 1933
        Act on the basis of being a “bad actor”, as that term is established in the September 19, 2013 Small Entity Compliance Guide published by the Securities and Exchange Commission..

      

      

      3.4          Sale or Transfer.  The Investor has not entered into any agreement or understanding with any person or entity to dispose of the Gain US Shares. The exchange by the Investor and
        the consummation of the transactions herein, does not by itself or with the passage of time violate or infringe upon the rights of any third parties or result or could reasonably result in any claims against the Investor or the Company. The
        exchange by the Investor and the consummation of the transactions herein, does not by itself or with the passage of time violate or infringe upon the rights of any third parties or result or could reasonably result in any claims against the
        Investor or the Company.

      

      

      3.5          Proceedings.  No proceedings relating to the GT Gain Shares are pending or, to the knowledge of the Investor, threatened before any court, arbitrator or administrative or
        governmental body that would adversely affect the Investor’s right and ability to surrender and exchange the GT Gain Shares for the Gain US Shares.

      

      

      3.6          Reliance on Exemptions. The Investor understands that the Gain US Shares being offered and exchanged in reliance on specific exemptions from the registration requirements of
        United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of the
        Investor set forth herein in order to determine the availability of such exemptions and the eligibility of the Investor to acquire the Gain US Shares.

      

      

      3.7          No Governmental Review. The Investor understands that no United States federal or state agency or any other government or governmental agency has passed on or made any
        recommendation or endorsement of the Gain US Shares or the fairness or suitability of the investment in the Gain US Shares nor have such authorities passed upon or endorsed the merits of an investment in the Gain US Shares.

      

      

      
        5

        
          

      

      

      

       

      3.8          No Conflicts. The execution, delivery and performance by the Investor of this Agreement and the consummation by the Investor of the transactions contemplated hereby will not (i)
        conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or
        instrument to which the Investor is a party, or (ii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to the Investor, except in the case of clause (i) or (ii)
        above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Investor to perform its obligations hereunder.

      

      

      3.9          No Public Sale or Distribution.  The Investor is acquiring the Gain US Shares for its own account and not with a view towards, or for resale in connection with, the public sale
        or distribution thereof in violation of applicable securities laws, except pursuant to sales registered or exempted under the Securities Act. The Investor does not presently have any agreement or understanding, directly or indirectly, with any
        person to distribute any of the Gain US Shares, for its own account and not with a view towards, or for resale in connection with, the public distribution of the Gain US Shares in violation of applicable securities laws.

      

      

      3.10          Information.  The Investor and its advisors, if any, have been furnished with all materials relating to the business, finances and operations of the Company and materials
        relating to the offer and sale of the Gain US Shares which have been requested by the Investor.  The Investor and its advisors, if any, have been afforded the opportunity to ask questions of the Company. The Investor understands that its investment
        in the Gain US Shares involves a high degree of risk. The Investor has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Gain US Shares.

      

      

      3.11          Transfer or Resale.  The Investor understands that: (i) the Gain US Shares have not been and are not being registered under the Securities Act or any state securities laws, and
        may not be offered for sale, sold, assigned or transferred unless (A) subsequently registered thereunder or (B) the Investor shall have delivered to the Company an opinion of counsel to the Investor, in a form reasonably acceptable to the Company,
        to the effect that the Gain US Shares to be sold, assigned or transferred may be sold, assigned or transferred pursuant to an exemption from such registration.

      

      

      3.12          For Non-U.S. Investors. The Investor is not a U.S. Person as that term is defined in Regulation S promulgated under the Securities Act. The Investor’s principal address is outside the
        United States and the Investor has no present intention of becoming a resident of (or moving its principal place of business to) the United States. At the time of Closing and issuance of the Gain US Shares to the Investor, the Investor, was located
        outside the United States. The Gain US Shares are being acquired solely for the Investor’s own account and not for the account or the benefit of a U.S. person.

      

      

      4.          GT GAIN SA REPRESENTATIONS AND WARRANTIES.

      

      

      As a material inducement to the Company to enter into this Agreement and consummate the Exchange, GT Gain SA represents, warrants and covenants with and to the Company as follows:

      

      

      4.1          Organization; Capitalization.

      

      

      (a)          GT Gain SA is duly organized and validly existing in good standing under the laws of the jurisdiction in which it was formed and has the requisite power and authority to own its
        properties and to carry on its business as now being conducted. GT Gain SA is not a party to any joint venture and does not directly or indirectly own or hold capital stock or an equity or similar interest in any entity. GT Gain SA is duly
        qualified as a foreign entity to do business and is in good standing in every jurisdiction in which its ownership of property or the nature of the business conducted by it makes such qualification necessary, except to the extent that the failure to
        be so qualified or be in good standing would not have a Material Adverse Effect on GT Gain SA.

      

      

      
        6

        
          

      

      

      

       

      (b)          The authorized capital stock of GT Gain SA consists of 359,639 shares with a nominal value CHF 1.0 per share, of which 225,000 are common shares and 134,639 are Series A Convertible
        Preferred Stock.  The Company has no plans or commitments to issue any securities. All of the issued and outstanding Common Stock and  Series A Convertible Preferred Stock of GT Gain SA are duly authorized, validly issued, fully paid,
        non-assessable and free of all preemptive rights. Other than rights of the Series A Series A Convertible Preferred Stock there are no outstanding or authorized options, warrants, rights, agreements or commitments to which GT Gain SA is a party or
        which are binding upon GT Gain SA providing for the issuance or redemption of any of its capital stock. There are no outstanding or authorized stock appreciation, phantom stock or similar rights with respect to GT Gain SA. Other than agreements
        with the Series A Convertible Preferred Stock holders, there are no agreements to which GT Gain SA is a party or by which it is bound with respect to the voting (including without limitation voting trusts or proxies), registration under the
        Securities Act or Swiss law, or sale or transfer (including without limitation agreements relating to pre-emptive rights, rights of first refusal, co-sale rights or “drag-along” rights) of any securities of GT Gain SA. All of the issued and
        outstanding shares of capital stock of GT Gain SA were issued in compliance with applicable securities laws.

      

      

      4.2          Authority; Execution and Delivery; Enforceability.

      

      

      (a)          GT Gain SA has all requisite power, authority and legal capacity to execute and deliver this Agreement to perform its obligations hereunder and to consummate the Exchange. The
        execution, delivery and performance of this Agreement and the consummation of the Exchange has been duly authorized and approved by all required action on the part of GT Gain SA and, no other corporate or other proceedings on the part of GT Gain SA
        are necessary to authorize this Agreement and the transactions contemplated hereby.

      

      

      (b)          This Agreement has been duly authorized, executed and delivered and constitutes, the valid and binding obligation of GT Gain SA , enforceable against GT Gain SA  in accordance with its
        terms (i) except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect related to laws affecting creditors’ rights generally, including the effect of
        statutory and other laws regarding fraudulent conveyances and preferential transfers, and except that no representation is made herein regarding the enforceability of GT Gain SA’s obligations to provide indemnification and contribution remedies
        under the securities laws and (ii) subject to the limitations imposed by general equitable principles (regardless of whether such enforceability is considered in a proceeding at law or in equity).

      

      

      4.3          No Conflicts. Neither the execution and delivery of or performance by GT Gain SA  under this Agreement nor the consummation of the transactions herein contemplated conflicts
        with or violates, or will result in the creation or imposition of, any lien, charge or other encumbrance upon any of the assets of GT Gain SA  under any agreement or other instrument to which GT Gain SA  is a party or by which GT Gain SA  or its
        assets may be bound, or any term of the GT Gain SA’s organizational documents, or any license, permit, judgment, decree, order, statute, rule or regulation applicable to GT Gain SA  or any of its assets, except in the case of a conflict, violation,
        lien, charge or other encumbrance (except with respect to the GT Gain SA’s organizational documents) which would not reasonably be expected to, have a Material Adverse Effect on GT Gain SA.

      

      

      4.4          Financial Statements.

      

      

      (a)          GT Gain SA’s unaudited financial statements as and for the periods ended December 31, 2019 (collectively, the “Financial Statements”), together with the related notes, if any, present
        fairly, in all material respects, the financial position of GT Gain SA as of the dates specified and the results of operations for the periods covered thereby. Such financial statements and related notes were prepared in accordance with the laws
        and regulations in force in Switzerland applied on a consistent basis throughout the periods indicated. Except as set forth in such Financial Statements, GT Gain SA has no known material liabilities of any kind, whether accrued, absolute,
        contingent, or otherwise. All other financial and statistical information provided to the Company by GT Gain SA  with respect to GT Gain SA  present fairly in all material respects the information shown therein on a basis consistent with the
        Financial Statements of GT Gain SA. GT Gain SA does not know of any facts, circumstances or conditions which could reasonably be expected to have a Material Adverse Effect.

      

      

      
        7

        
          

      

      

      

       

      (b)          Since the date of GT Gain SA’s most recent Financial Statements, there has been no Material Adverse Effect on GT Gain SA. Since the date of GT Gain SA’s most recent Financial
        Statements, GT Gain SA has not (i) declared or paid any dividends, (ii) sold any assets, individually or in the aggregate, in excess of $50,000 outside of the ordinary course of business or (iii) had capital expenditures, individually or in the
        aggregate, in excess of $50,000. GT Gain SA has not taken any steps to seek protection pursuant to any bankruptcy law nor does GT Gain SA have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy
        proceedings or any actual knowledge of any fact which would reasonably lead a creditor to do so.

      

      

      4.5          Indebtedness. GT Gain SA   (i) has no outstanding Indebtedness, (ii) is not a party to any contract, agreement or instrument, the violation of which, or default under which, by
        the other party(ies) to such contract, agreement or instrument would result in a Material Adverse Effect, or (iii) is not in violation of any term of or in default under any contract, agreement or instrument relating to any Indebtedness, except
        where such violations and defaults would not result, individually or in the aggregate, in a Material Adverse Effect.

      

      

      4.6          Governmental Authorizations. GT Gain SA has obtained all material licenses, permits and other governmental authorizations necessary to conduct its business as presently
        conducted. GT Gain SA has not received any written notice of any violation of, or noncompliance with, any federal, state, local or foreign laws, ordinances, regulations and orders (including, without limitation, those relating to environmental
        protection, occupational safety  and health, securities laws, equal employment opportunity, consumer protection, credit reporting, “truth-in-lending”, and warranties and trade practices) applicable to its business, the violation of, or
        noncompliance with, would have an Material Adverse Effect on GT Gain SA, and GT Gain SA  knows of no facts or set of circumstances which could give rise to such a notice.

      

      

      4.7          GT Gain SA Agreements. No default by GT Gain SA  or, to the knowledge of GT Gain SA , any other party, exists in the due performance under any material agreement to which GT
        Gain SA  is a party or to which any of its assets is subject (collectively, the “GT Gain SA Agreements”). The GT Gain SA Agreements are in full force and effect in accordance with their respective terms,
        subject to any applicable bankruptcy, insolvency or other laws affecting the rights of creditors generally and to general equitable principles and the availability of specific performance.

      

      

      4.9          Intellectual Property. GT Gain SA  owns all right, title and interest in, or possesses enforceable rights to use, all patents, patent applications, trademarks, service marks,
        copyrights, rights, licenses, franchises, trade secrets, confidential information, processes and formulations necessary for the conduct of its business as now conducted (collectively, the “GT Gain SA Intellectual Property”). To the knowledge of GT Gain SA , GT Gain SA  has not infringed upon the rights of others with respect to the Intellectual Property and GT Gain SA  has not received written notice that it
        has or may have infringed or is infringing upon the rights of others with respect to the Intellectual Property, or any written notice of conflict with the asserted rights of others with respect to the Intellectual Property. To the knowledge of GT
        Gain SA , no others have infringed upon the rights of GT Gain SA  with respect to the Intellectual Property. None of GT Gain SA Intellectual Property have expired or terminated, or are expected to expire or terminate, within three years from the
        date of this Agreement.

      

      

       4.10          Employee Matters. GT Gain SA is not a party to any collective bargaining agreement nor does it employ any member of a union. No executive officer of GT Gain SA  (as defined in
        Rule 501(f) of the Act) has notified GT Gain SA  that such officer intends to leave GT Gain SA  or otherwise terminate such officer’s employment with the Company. No executive officer of the Company, to the knowledge of GT Gain SA , is in violation
        of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement, non- competition agreement, or any other contract or agreement or any restrictive covenant, and the continued employment of each such
        executive officer does not subject GT Gain SA  to any liability with respect to any of the foregoing matters. GT Gain SA  is in compliance with all federal, state, local and foreign laws and regulations respecting labor, employment and employment
        practices and benefits, terms and conditions of employment and wages and hours, except where failure to be in compliance would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect on GT Gain
        SA.

      

      

      
        8

        
          

      

      

      

       

      4.11          Proceedings. There are no actions, suits, claims, hearings or proceedings pending before any court or governmental authority or, to the knowledge of GT Gain SA , threatened,
        against GT Gain SA , or involving its assets or any of its officers or directors (in their capacity as such) which, if determined adversely to GT Gain SA  or such officer or director, could reasonably be expected to have a Material Adverse Effect
        on GT Gain SA  or adversely affect the transactions contemplated by this Agreement or the enforceability thereof.

      

      

      4.12          Compliance. GT Gain SA  is not: (i) in violation of its organizational documents; (ii) in default of any indenture, mortgage, deed of trust, note or other agreement or
        instrument to which GT Gain SA  is a party or by which it is or may be bound or to which any of its assets may be subject, the default of which could reasonably be expected to have a Material Adverse Effect on GT Gain SA; (iii) in violation of any
        statute, rule or regulation applicable to GT Gain SA, the violation of which would have a Material Adverse Effect on GT Gain SA ; or (iv) in violation of any judgment, decree or order of any court or governmental body having jurisdiction over GT
        Gain SA  and specifically naming GT Gain SA , which violation or violations individually, or in the aggregate, could reasonably be expected to have a Material Adverse Effect on GT Gain SA .

      

      

      4.13          Related Party Transactions. As of the date of this Agreement, no current or former stockholder, director, officer or employee of GT Gain SA, nor, to the knowledge of GT Gain SA
        , any affiliate of any such person is presently, directly or indirectly through his affiliation with any other person or entity, a party to any loan from GT Gain SA  or any other transaction (other than as an employee) with GT Gain SA  providing
        for the furnishing of services by, or rental of any personal property from, or otherwise requiring cash payments to any such person.

      

      

      4.14          Taxes. GT Gain SA has filed, on a timely basis, each federal, state, local and foreign tax return, report and declarations that were required to be filed, or has requested an
        extension therefor and has paid all taxes and all related assessments, charges, penalties and interest to the extent that the same have become due. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any
        jurisdiction, and the officers of GT Gain SA know of no basis for any such claim.  GT Gain SA has not executed a waiver with respect to the statute of limitations relating to the assessment or collection of any foreign, federal, state or local tax.
        To GT Gain SA’s knowledge, none of GT Gain SA’s tax returns are presently being audited by any taxing authority. No liens have been filed and no claims are being asserted by or against GT Gain SA with respect to any taxes (other than liens for
        taxes not yet due and payable). GT Gain SA has not received written notice of assessment or proposed assessment of any taxes claimed to be owed by it or any other person on its behalf. GT Gain SA is not a party to any tax sharing or tax indemnity
        agreement or any other agreement of a similar nature that remains in effect. GT Gain SA has complied in all material respects with all applicable legal requirements relating to the payment and withholding of taxes and, within the time and in the
        manner prescribed by law, has withheld from wages, fees and other payments and paid over to the proper governmental or regulatory authorities all amounts required. All share transfer or other taxes (other than income or similar taxes) which are
        required to be paid in connection with the issuance of GT Gain SA shares to be exchanged  hereunder will be, or will have been, fully paid or provided for by GT Gain SA, and all laws imposing such taxes will be or will have been complied with.

      

      

      4.15          Regulatory Matters; Compliance. GT Gain SA has not received any written notices or other communications from the U.S. Food and Drug Administration (“FDA”), the European Medicines Agency (“EMA”) or any other governmental agency or authority imposing, requiring, requesting or suggesting a clinical hold, termination, suspension or material
        modification of any clinical trial that is being conducted by or on behalf of GT Gain SA. GT Gain SA has not received any written notices or other communications from the FDA, the EMA or any other governmental agency, and otherwise has no knowledge
        of, or reason to believe that, (i) any investigational new drug application for a potential product of GT Gain SA is or has been rejected or determined to be non-approvable or conditionally approvable; and (ii) any license, approval, permit or
        authorization to conduct any clinical trial of any potential product of GT Gain SA has been, will be or may be suspended, revoked, modified or limited.

      

      

      4.16          No Misstatements of Omissions. The Confidential Private Placement Memorandum, dated July 1, 2020, and any amendment thereto prepared in connection with the Offering did not and
        will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading.

      

      

      GT Gain SA acknowledges that the Placement Agent will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance.

      
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      5.          CONDITIONS TO CLOSING.

      

      

      5.1          Conditions to Obligation of the Company. The obligation of the Company to consummate the Exchange shall be subject to the fulfillment, or written waiver by the Company at or
        prior to the Closing, of each of the following conditions:

      

      

      (a)          The representations and warranties of Investor and GT Gain SA set out in this Agreement shall be true and correct in all material respects at and as of the time of the Closing as
        though such representations and warranties were made at and as of such time, except that those that speak as of the date of this Agreement shall be updated;

      

      

      (b)          GT Gain SA shall have delivered to the Company a certificate of an officer of  GT Gain SA to the effect that the condition set forth in Section 5.1(a) hereof as it relates to
        GT Gain SA has been satisfied;

      

      

      (c)          Investor shall have delivered to the Company a certificate of [an officer of] Investor to the effect that the condition set forth in Section 5.1(a) hereof  as it relates to Investor
        has been satisfied, together with any stock certificates issued to Investor representing the GT Gain Shares, together with a stock power executed in blank; and

      

      

      (d)          The Company and GT Gain SA shall have entered into separate exchange agreements to exchange shares of the Company’s Common Stock or Series A Preferred Stock for shares of GT Common
        Stock or Preferred Stock of GT Gain SA with each of the other current stockholders of GT Gain SA, such that after all of the exchange agreements are executed and certificates evidencing securities of GT Gain SA are transferred to the Company, GT
        Gain SA shall be a wholly owned subsidiary of the Company.

      

      

      5.2          Conditions to Obligations of Investor. The obligations of Investor to consummate the Exchange shall be subject to the fulfillment or written waiver by Investor, at or prior to
        the Closing, of each of the following conditions:

      

      

      (a)          The representations and warranties of the Company set out in this Agreement shall be true and correct in all material respects at and as of the time of the Closing as though such
        representations and warranties were made at and as of such time, except that those that speak as of the date of this Agreement shall be updated;

      

      

      (b)          The Company shall [have closed, or] be in a position to close simultaneously with the Exchange with investors, the private placement offering of no less than $8,000,000 of the
        Company’s Series B Convertible Preferred Stock (the “Series B Preferred”);

      

      

      (c)          The Company shall have entered into separate exchange agreements to exchange shares of its Common Stock or Series A Preferred Stock for shares of GT Common Stock or Preferred Stock of
        GT Gain SA with each of the other current stockholders of GT Gain SA, such that after all of the exchange agreements are executed and certificates evidencing securities of GT Gain SA are transferred to the Company, GT Gain SA shall be a wholly
        owned subsidiary of the Company

      

      

      (d)          The Company shall have delivered to the Investor a certificate of an officer of the Company to the effect that the conditions set forth in Section 5.2(a), (b) and (c)
        hereof have been satisfied Company shall [have closed, or] be in a position to close simultaneously with the Exchange with investors, the private placement offering of no less than $8,000,000 of the Company’s Series B Preferred.

      

      

      
        10

        
          

      

      

      

       

      6.          MISCELLANEOUS.

      

      

      6.1          Legends. The Investor acknowledges that the certificate(s) representing the Gain US Shares shall each conspicuously set forth on the face or back thereof a legend in
        substantially the following form:

      

      

      “THESE SHARES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE RULES AND REGULATIONS PROMULGATED THEREUNDER, OR UNDER THE SECURITIES LAWS, RULES OR
        REGULATIONS OF ANY STATE; AND MAY NOT BE PLEDGED, HYPOTHECATED, SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SHARES AND THE APPLICABLE STATE SECURITIES LAWS, RULES OR REGULATIONS OR AN EXEMPTION THEREFROM DEEMED
        ACCEPTABLE BY COUNSEL TO THE COMPANY AND AN OPINION OF COUNSEL TO SUCH EFFECT.”

      

      

      6.2          Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal
        laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdictions) that would cause the application of the laws of any jurisdictions other
        than the State of Delaware. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in Wilmington, Delaware, for the adjudication of any dispute hereunder or in connection herewith or with any
        transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit,
        action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit,
        action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
        herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE
          ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

      

      

      6.3          Counterparts. This Agreement may be executed simultaneously in two or more counterparts, any one of which need not contain the signatures of more than one party, but all such
        counterparts taken together will constitute one and the same Agreement.  This Agreement, to the extent delivered by means of a facsimile machine or electronic mail (any such delivery, an “Electronic Delivery”),

        shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.  At the request of any party
        hereto, each other party hereto shall re‐execute original forms hereof and deliver them in person to all other parties.  No party hereto shall raise the use of Electronic Delivery to deliver a signature or the fact that any signature or agreement
        or instrument was transmitted or communicated through the use of Electronic Delivery as a defense to the formation of a contract, and each such party forever waives any such defense, except to the extent such defense related to lack of
        authenticity.

      

      

      6.4          Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.

      

      

      6.5          Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision
        that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of
        the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or
        unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The
        parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable
        provision(s).

      
        11

        
          

      

      

      

       

      6.6          Entire Agreement; Amendments. This Agreement supersedes all other prior oral or written agreements between the Investor, the Company, their affiliates and persons acting on
        their behalf with respect to the matters discussed herein, and this Agreement, contains the entire understanding of the parties with respect to the matters covered herein and, except as specifically set forth herein, neither the Company nor the
        Investor makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement may be amended other than by an instrument in writing signed by the Company and the Investor, and any amendment to
        this Agreement made in conformity with the provisions of this Section shall be binding upon the Investor.  No provision hereof may be waived other than by an instrument in writing signed by the party against whom enforcement is sought.

      

      

      6.7          Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns, including any purchasers of the
        Gain US Shares. The Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor. The Investor may assign some or all of its rights hereunder without the consent of the Company.

      

      

      6.8          Further Assurances.  Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other
        agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

      

      

      6.9          Construction.  The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction
        will be applied against any party. No specific representation or warranty shall limit the generality or applicability of a more general representation or warranty.

      

      

      [Signature Page Follows]

      

      

      
        12

        
          

      

      

      

       

      IN WITNESS WHEREOF, the Investor and the Company have caused their respective signature pages to this Agreement to be duly executed as of the date first
        written above.

      

      

      	 	
              COMPANY:

            
	 	 	 
	 	
              GAIN THERAPEUTICS, INC.

            
	 	 
	 	
              By:

            	 
	 	
              Name:

            	 
	 	
              Title:

            	 
	 	 	 
	 	
              INVESTOR:

            
	 	 	 
	 	  
	 	 	 
	 	 	 
	 	 	 
	 	
              By:

            	 
	 	
              Name:

            	 
	 	
              Title:

            	 
	 	 	 
	 	
              GT GAIN THERAPEUTICS SA

            
	 	 	 
	 	
              By:

            	 
	 	
              Name:

            	 
	 	
              Title:

            	 

      

      

      

      

      

      

    

  

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