Document:

Exhibit 10.29

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This
Agreement is entered into on May 1, 2014, by and between ANDREW P.
SAVADELIS (“Executive”) and ANGION BIOMEDICA CORP.,
a Delaware corporation (the “Company”).

1.          Position and Duties.

(a)         Position. The
Company hereby engages Executive as the Chief Financial Officer of the Company. As such, he shall report directly to the Chief
Executive Officer of the Company and have all the responsibilities, duties and authority reasonably expected of a chief financial
officer and such other lawful duties consistent with the position and authority of a chief financial officer as may be assigned
from time to time by the Chief Executive Officer.

(b)         Obligations
to the Company. Executive shall devote his full business energies, interests, abilities and productive time to his position.
Executive may accept appointment to other corporate and charitable boards with the consent of the Company, which consent will not
be withheld if service on such other boards would not materially interfere with his service to the Company.

(c)         Right
to Provide Services; Conflict of Interest. Executive hereby represents and warrants to the Company that (i) he has full
right and authority to enter into this Agreement and to perform his obligations hereunder, and (ii) the execution and delivery
of this Agreement by Executive and the performance of his obligations hereunder will not conflict with or breach any agreement,
order or decree to which he is a party or by which he is bound.

(d)         Location. Executive
will perform his duties at Company’s corporate offices in Uniondale, New York, for at least three days per week. For two
days per week, Executive may work from his home office or other locations required by his role in the Company.

2.           Term. Executive
will be employed by the Company in accordance with the terms of this Agreement commencing as of May 1, 2014 (the “Commencement
Date”), and continuing until his employment ceases for any of the following reasons (the “Term”):

(a)        either
party gives written notice at least thirty (30) days prior to the effective date of such termination; or

(b)       the Company terminates the
Agreement at any time, without advance notice, upon any of the following events (each such event a ground for a termination of
Executive’s employment for “Cause”):

	 	i.	a material breach of any term or condition of this Agreement by Executive, regardless of the reason therefore;
	 	ii.	Executive’s fraud, breach of trust or fiduciary duty, material dishonesty, misappropriation of funds or similar activity;
	 	iii.	Executive’s unauthorized use or disclosure of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company;
	 	iv.	Executive’s refusal to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, upon the Company’s request;

    	 

    	 

    

 

	 	v.	Executive’s debarment or criminal conviction that could lead to debarment, under the Generic Drug Enforcement Act or the Executive’s being debarred, excluded or otherwise made ineligible to participate in a “Federal Health Care Program” (as defined in 42 U.S.C. §1320a-7b(f)) or in any other governmental payment program; or
	 	vi.	Executive’s indictment of, or plea of nolo contendre to, a felony or any crime involving an act of moral turpitude; or

(c)        Executive
terminates the Agreement for “Good Reason,” which for this purpose will mean:

	 	i.	any material adverse change in Executive’s title, authority or duties (including, without limitation, the assignment to Executive of duties materially inconsistent with his position), or
	 	ii.	any other material breach by the Company of any term or condition of this Agreement;

provided that (x) Executive notifies
the Company in writing within 90 days after he first becomes aware of such event, (y) the Company fails to cure such event within
30 days after receipt of such written notice, and (z) Executive resigns employment within 60 days following expiration of such
cure period; or

(d)       automatically
upon Executive’s death.

The rights and obligations of Sections
5 and 8 through 11 shall survive any termination or expiration of this Agreement.

3.          Compensation.

(a)       Base
Compensation.  The Company will pay to the Executive an hourly rate of $250.00 for each hour of services provided
to the Company, the extent and duration of such services to be agreed upon in advance, provided that the Executive shall be
paid no more than $22,000.00 in the aggregate in any given month. Following the date that the Company receives a total
of $20,000,000 in new capital (whether debt, equity or a combination of debt and equity, but excluding capital raised
from currently existing equity investors, and excluding grants from governmental agencies or private foundations)
(a “Qualified Financing”), the Company shall pay to Executive an annual base salary of $225,000
per year (as increased from time to time, the “Base Salary”).

(b)       Annual Bonus. With
respect to each fiscal year of the Company ending during his employment, Executive shall be eligible to earn an annual bonus (an
“Annual Bonus”) based on the achievement of reasonable individual and corporate performance objectives
established by the Board and communicated to Executive. The target amount of Executive’s Annual Bonus for each fiscal year
will be up to 35% of the Base Salary paid or payable to Executive for his service in that year, 25% thereof based on achievement
of personal objectives, and 75% based on achievement of company objectives, said objectives to be agreed upon with the CEO/Board
prior to the commencement of the given fiscal year. To receive the Annual Bonus otherwise earned for a given fiscal year, Executive
must remain employed by the Company through the last business day of that year. Any Annual Bonus earned by Executive will be paid
no later than March 15 of the year following the end of the applicable fiscal year.

(c)        Employee Benefits. Executive
will be eligible to participate in the employee benefit plans, policies or arrangements maintained by the Company for its management-level
employees, subject to the terms and conditions of such plans, policies or arrangements.

(d)       Vacations. In addition
to holidays observed by the Company, Executive will be entitled to accrue four weeks of paid vacation each year in accordance with
the published policies of the Company; provided, however, that for the year in which Executive’s employment commences
(or any other partial year of service), this vacation allotment will be pro-rated.

    	 

    	 

    

 

(e)        Option
Award. Upon the effectiveness of Executive’s Base Salary as described in paragraph 3(a) herein, Company shall
grant Executive non statutory stock options (the “Options”) to purchase up to 0.75% (seventy-five one-hundredths
of one percent) of the outstanding shares of the Company’s common stock (the “Common Stock”) on a fully diluted
basis following the completion of the Qualified Financing, including any over-allotment, if any, equitably adjusted for stock
splits, reverse splits, mergers, reorganizations, recapitalizations and similar events or transactions. The Options will have
an exercise price equal to the Fair Market Value of a share of the Common Stock on the Date of Grant. The Options
will vest in accordance with the following schedule: 25% of the Options will vest on the first anniversary of the Commencement
Date and 2.0833% of the Options will vest on the monthly anniversary of the Commencement Date in each of the following 36 months;
provided that the Options will become 100% vested upon (i) a Change in Control (as defined below in Section 6(b)), provided Executive
remains in service through the date of such transaction, or (ii) a cessation of Executive’s employment due to his death,
Disability, termination by the Company pursuant to Section 2(a), or resignation by Executive pursuant to Section 2(c). Capitalized
terms not otherwise defined in this Section 3(e) will have the meaning ascribed to that term in the Angion Biomedica Corp. 2014
Stock Option Plan. Except as otherwise expressly provided herein, the other terms of the Options will be substantially consistent
with the terms of stock options issued by the Company to its other executive officers during 2014.

4.          Business Expenses. The
Company shall pay directly or reimburse Executive for reasonable expenses incurred in the course of his employment in accordance
with the Company’s generally applicable policies. Executive shall be entitled to travel at a class of accommodations equivalent
to the other members of the Company’s executive team.

5.          Directors and Officers Insurance. The Company will maintain directors and officers insurance appropriate in light of
the Company’s size and activities and Executive will be entitled to the benefit of such coverage.

6.          Severance Upon
Certain Terminations. Upon any termination of Executive’s employment, Executive will receive payment for any accrued
but unpaid wages, accrued but unused vacation and for any incurred but unreimbursed business expenses, subject to the Company’s
policies for expense reimbursements. In addition, if Executive’s employment terminates after the Qualified Financing, Executive
will be eligible for the following payments in connection with the termination of his employment:

(a)       
If the Company terminates Executive’s employment pursuant to Section 2(a) or the Executive resigns his employment
pursuant to Section 2(c), then the Company will (i) make a cash lump sum payment to Executive equal to 100% of his Base
Salary (at the rate in effect immediately prior to such termination), less applicable taxes and withholdings, and (ii) for a
period of 12 months (or, if required by applicable law, in a lump sum equal to the amount that would have been paid over the
course of 12 months), will pay to Executive a monthly stipend equal to Executive’s premiums for continuation of medical
and dental benefits pursuant to Executive’s COBRA election (grossed up to account for applicable taxes and
withholdings); provided, however, that the payments and benefits described in this Section 6(a) are expressly conditioned
upon Executive’s execution of a release of employment-related claims against the Company and its affiliates in a
mutually acceptable form, and upon such release becoming effective and no longer subject to revocation no later than 60 days
following such termination. The Company will pay Executive the severance provided under Section 6(a) on the next payroll date
following the date on which the release is no longer subject to revocation, unless the 60 day period following
Executive’s termination begins in one tax year and ends in the following tax year. In that event, the Company will pay
Executive the severance provided under Section 6(a) on the next payroll date following the later of January 1 of the
second tax year and the date on which the release is no longer subject to revocation. The bonus will be pro-rated to the
number of months the employee worked until termination.

(b)       
If the Executive resigns his employment under Section 2(a) of this Agreement within 30 days following a Change in Control,
then the Company will make a cash lump sum payment to Executive equal to 135% of his Base Salary (at the rate in effect
immediately prior to such termination), less applicable taxes and withholdings; provided, however, that the payments and
benefits described in this Section 6(b) are expressly conditioned upon Executive’s execution of a release of
employment-related claims against the Company and its affiliates in a mutually acceptable form, and upon such release
becoming effective no later than 30 days following such termination. The Company will pay Executive the severance provided
under this Section 6(b) on the next payroll date following the date on which the release is no longer subject to revocation,
unless the 30 day period following Executive’s termination begins in one tax year and ends in the following tax year.
In that event, the Company will pay Executive the severance provided under this Section 6(b) on the next payroll date
following the later of January 1 of the second tax year and the date on which the release is no longer subject to
revocation.

    	 

    	 

    

 

“Change in Control” means the occurrence, in
a single transaction or in a series of related transactions occurring after the Commencement Date of any one or more of the following
events: (x) any person or persons acting together becomes the owner, directly or indirectly, of securities of the Company representing
more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities other than by virtue
of a merger, consolidation or similar transaction; (y) there is consummated a merger, consolidation or similar transaction involving
(directly or indirectly) the Company and, immediately after the consummation of such merger, consolidation or similar transaction,
the stockholders of the Company immediately prior thereto do not own, directly or indirectly, either (A) outstanding voting securities
representing more than fifty percent (50%) of the combined outstanding voting power of the surviving entity in such merger, consolidation
or similar transaction or (B) more than fifty percent (50%) of the combined outstanding voting power of the parent of the surviving
entity in such merger, consolidation or similar transaction, in each case in substantially the same proportions as their ownership
of the outstanding voting securities of the Company immediately prior to such transaction; or (z) there is consummated a sale,
lease, exclusive license or other disposition of all or substantially all of the consolidated assets of the Company during any
twelve month period, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets
of the Company to an entity, more than fifty percent (50%) of the combined voting power of the voting securities of which are owned
by stockholders of the Company in substantially the same proportions as their ownership of the outstanding voting securities of
the Company immediately prior to such sale, lease, license or other disposition. Notwithstanding the above, to the extent any payment
under this Section 6(b) on or following a Change in Control is deferred compensation that is subject to Section 409A of the Internal
Revenue Code, and not otherwise exempt from complying with the provisions of the statute, then a Change in Control shall only be
deemed to occur if the Change in Control also qualifies as a change in the ownership or effective control of a corporation, or
a change in the ownership of a substantial portion of a corporation’s assets as defined in Treasury Regulation Section 1.409A-3(i)(5).
No Change in Control will be deemed to occur because of a sale of assets, merger or other transaction effected exclusively for
the purpose of changing the domicile of the Company.

7.          Arbitration. Any
controversy or claim arising out of this Agreement, other than such controversies or claims arising out of either party’s
intellectual property rights for which a provisional remedy or equitable relief is sought, shall be settled by final and binding
arbitration . The arbitration shall take place in New York, New York or, at Executive’s option, the county in which Executive
primarily resided during his service to the Company. The arbitration shall be administered by the American Arbitration Association
(the “AAA”) by one arbitrator mutually agreed upon by the parties, and if no agreement can be reached
within thirty (30) days after names of potential arbitrators have been proposed by the AAA, then by one arbitrator having relevant
experience who is chosen by the AAA. Any award or finding shall be confidential. Executive and the Company shall share the costs
of arbitration equally and each party shall be responsible for its own attorneys’ fees. The arbitrator may not award attorneys’
fees to either party unless a statute or contract at issue specifically authorizes such an award.

Executive acknowledges and agrees that
in the event of any breach or threatened breach of Section 8, 9, 10 or 11 of this Agreement, however, the Company will suffer irreparable
damage for which it will have no adequate remedy at law. Accordingly, simultaneously with filing an arbitration claim under this
Section, the Company shall be entitled to injunctive and other equitable remedies from any court having jurisdiction over Executive
to prevent or restrain, temporarily, preliminarily or permanently, such breach or threatened breach, without the necessity of posting
any bond or surety, in addition to any other remedy that Company may have at law or in equity.

8.          Company’s
Proprietary Rights and Nondisclosure. Executive recognizes that he may be exposed to or have access to information (including
all tangible and intangible manifestations) regarding the patents, copyrights, trademarks, trade secrets, technology, strategic
sales/marketing plans, and business of the Company and agrees as follows:

(a)       
All Proprietary Information
(as defined below), whether presently existing or developed in the future, shall be the sole property of the Company and its assigns.
In addition, the Company and its assigns shall be the sole owner of all intellectual property and other rights in connection with
such Proprietary Information.

(b)       
The term “Proprietary
Information” shall mean all inventions, works of authorship, trade secrets, business plans, confidential knowledge,
data or any other proprietary information of the Company. By

    	 

    	 

    

way of illustration but not limitation, “Proprietary
Information” includes, without limitation, (x) inventions, ideas, samples, designs, applications, drawings, methods
or processes, formulas, trade secrets, data, source and object codes, know-how, improvements, discoveries, developments, designs
and techniques (hereinafter collectively referred to as “Inventions”); and (y) information regarding
plans for research, development, new products and service offerings, marketing and selling, business plans, budgets and unpublished
financial statements, licenses, sales, pricing, profits and costs, distribution arrangements, suppliers and customers, marketing,
customer and partner strategies, business development plans, customer and partner lists; and information regarding the skills and
compensation of employees of the Company and the Company’s internal organization.

(c)        During and after his service
to the Company, Executive will keep in confidence and trust all Proprietary Information and shall not reproduce, use or disclose
any Proprietary Information or anything related to such information without the prior written consent of the Company, except as
required in the ordinary course of performing the services to be provided hereunder.

9.          Nondisclosure of
Third-Party Information. Executive understands that the Company has received and will receive from third parties information
that is confidential or proprietary and that is subject to restrictions on the Company’s use and disclosure (“Third-Party
Information”). During and after his service to the Company, Executive will hold Third-Party Information in the strictest
confidence and will not disclose or use Third-Party Information, except as permitted by agreement between the Company and the relevant
third party, unless expressly authorized to act otherwise by the Company.

10.         No Improper Use of Materials. Executive agrees not to bring to the Company or to use in the performance of services for
the Company any materials or documents of a present or former employer of Executive, or any materials or documents obtained by
Executive under a binder of confidentiality imposed by reason of another of Executive’s relationships, unless such materials
or documents are generally available to the public or Executive has authorization from such present or former employer, client
or employee for the possession and unrestricted use of such materials. Executive understands that Executive is not to breach any
obligation of confidentiality that Executive has to present or former employers or clients, and agrees to fulfill all such obligations
during his service to the Company.

11.         Prohibited Solicitation. During the Term and for a period of one (1) year following termination of this Agreement, regardless
of the reason for the termination, Executive will not, without the prior written consent of the Company:

(a)       
either
individually or on behalf of or through any third party, directly or indirectly, solicit, entice or persuade or attempt to solicit,
entice or persuade any employee of or consultant to the Company to leave the services of the Company; or

(b)       either
individually or on behalf of or through any third party, directly or indirectly, hire any employee of or consultant to the Company
or any person who was an employee of or consultant to the Company within six (6) months prior to the offer to hire.

12.         Section 409A. If the termination giving rise to the payments described in Section 6 is not a “Separation from Service”
within the meaning of Treas. Reg. § 1.409A-1(h)(1) (or any successor provision), then the amounts otherwise payable pursuant
to that section will instead be deferred without interest and will not be paid until Executive experiences a Separation from Service.
In addition, if the Executive is a “specified employee” within the meaning of Treas. Reg. § 1.409A-1(i), and to
the extent compliance with the requirements of Treas. Reg. § 1.409A-3(i)(2) (or any successor provision) is necessary to avoid
the application of an additional tax under Section 409A of the Internal Revenue Code to any payments due to Executive upon or following
his Separation from Service, then notwithstanding any other provision of this Agreement (or any otherwise applicable plan, policy,
agreement or arrangement), any such payments that are otherwise due within six months following Executive’s Separation from
Service (taking into account the preceding sentence of this paragraph) will be deferred without interest and paid to Executive
in a lump sum immediately following that six month period. This paragraph should not be construed to prevent the application of
Treas. Reg. §§ 1.409A-1(b)(4) or 1(b)(9)(iii) (or any successor provisions) to amounts payable to Executive. For purposes
of the application of Treas. Reg. § 1.409A-1(b)(4) (or

    	 

    	 

    

any successor provision) to amounts payable hereunder, each
payment in a series of payments will be deemed a separate payment.

With respect to any expense reimbursement
or in-kind benefit provided to Executive that constitutes a “deferral of compensation” within the meaning of Section
409A of the Internal Revenue Code, (a) the expenses must be incurred during Executive’s lifetime, (b) the amount of expenses
eligible for reimbursement or in-kind benefits provided to Executive during any calendar year will not affect the amount of expenses
eligible for reimbursement or in-kind benefits provided to Executive in any other calendar year, (c) reimbursements shall be made
on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred, and (d)
the right to reimbursement or in-kind benefits may not be liquidated or exchanged for any other benefit.

13.         Miscellaneous Provisions.

(a)       
Notice. Notices and
all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally
delivered, when delivered by a nationally recognized overnight courier with delivery charges prepaid, or when mailed by U.S. registered
or certified mail, return receipt requested and postage prepaid. In the case of Executive, mailed notices shall be addressed to
him at the home address that he most recently communicated to the Company in writing. In the case of the Company, mailed notices
shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary.

(b)       
Modifications and Waivers. No
provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in
writing and signed by Executive and by an authorized officer of the Company (other than Executive). No waiver by either party of
any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver
of any other condition or provision or of the same condition or provision at another time.

(c)        Whole Agreement. This
Agreement contains the entire understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings,
arrangements and agreements regarding this subject matter.

(d)       Choice of Law and Severability. This
Agreement shall be interpreted in accordance with the laws of the State of New York, without regard to its rules and provisions
governing choice of laws. If any provision of this Agreement becomes or is deemed invalid, illegal or unenforceable in any applicable
jurisdiction by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the minimum
extent necessary to conform to applicable law so as to be valid and enforceable or, if such provision cannot be so amended without
materially altering the intention of the parties, then such provision shall be stricken and the remainder of this Agreement shall
continue in full force and effect. If any provision of this Agreement is rendered illegal by any present or future statute, law,
ordinance or regulation (collectively the “Law”), then such provision shall be curtailed or limited only
to the minimum extent necessary to bring such provision into compliance with the Law. All the other terms and provisions of this
Agreement shall continue in full force and effect without impairment or limitation.

(e)        No Assignment. This
Agreement and all rights and obligations of Executive hereunder are personal to Executive and may not be transferred or assigned
by Executive at any time. The Company may assign its rights under this Agreement to any entity that assumes the Company’s
obligations hereunder in connection with any sale or transfer of all or a substantial portion of the Company’s assets to
such entity.

(f)        Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

In
Witness Whereof, each of the parties has executed this Executive Employment Agreement, in the case of the Company by
its duly authorized officer, on the day and year first above written.

    	 

    	 

    

 

		Andrew P. Savadelis
	 	 
		
		/s/ Andrew P. Savadelis
		 

 

 

 

		Angion Biomedica Corp.
	 	 
		
		By: 	/s/ Itzhak D. Goldberg
			Itzhak D. Goldberg

Chief Executive OfficerExhibit 10.30

 

Indemnification
Agreement

 

This Indemnification Agreement
(this “Agreement”) is made and entered into this ___ day of __________________, 20___, by and between
Angion Biomedica Corp., a Delaware corporation (the “Company”), and _______________ (“Indemnitee”).

 

Whereas,
qualified persons are reluctant to serve corporations as directors or otherwise unless they are provided with broad indemnification
and insurance against claims arising out of their service to and activities on behalf of the corporations; and

 

Whereas,
the Company has determined that attracting and retaining such persons is in the best interests of the Company’s stockholders
and that it is reasonable, prudent and necessary for the Company to indemnify such persons to the fullest extent permitted by
applicable law and to provide reasonable assurance regarding insurance;

 

Now, therefore,
the Company and Indemnitee hereby agree as follows:

 

1.            Defined
Terms; Construction.

 

(a)          Defined
Terms.   As used in this Agreement, the following terms shall have the following meanings:

 

“Change in Control” means,
and shall be deemed to have occurred if, on or after the date of this Agreement, (i) any “person” (as such
term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than (A) a trustee
or other fiduciary holding securities under an employee benefit plan of the Company or any of its subsidiaries acting in such
capacity, or (B) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same
proportions as their ownership of stock of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3
under said Act), directly or indirectly, of securities of the Company representing more than 20% of the total voting power represented
by the Company’s then outstanding Voting Securities, (ii) during any period of two consecutive years, individuals
who at the beginning of such period constitute the board of directors of the Company and any new director whose election by the
board of directors of the Company or nomination for election by the Company’s stockholders was approved by a vote of at
least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose
election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, (iii)
the stockholders of the Company approve a merger or consolidation of the Company with any other corporation other than a merger
or consolidation that would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 80%
of the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately
after such merger or consolidation, (iv) the stockholders of the Company approve a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company of (in one transaction or a series of related transactions)
all or substantially all of its assets, or (v) the Company shall file or have filed against it, and such filing shall not
be dismissed, any bankruptcy, insolvency or dissolution proceedings, or a trustee,

 

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administrator or creditors committee shall be appointed to manage
or supervise the affairs of the Company.

 

“Corporate Status” means
the status of a person who is or was a director (or a member of any committee of a board of directors), officer, employee or agent
(including without limitation a manager of a limited liability company) of the Company or any of its subsidiaries, or of any predecessor
thereof, or is or was serving at the request of the Company as a director (or a member of any committee of a board of directors),
officer, employee or agent (including without limitation a manager of a limited liability company) of another entity, or of any
predecessor thereof, including service with respect to an employee benefit plan.

 

“Determination” means a determination
that either (x) there is a reasonable basis for the conclusion that indemnification of Indemnitee is proper in the circumstances
because Indemnitee met a particular standard of conduct (a “Favorable Determination”) or (y) there is
no reasonable basis for the conclusion that indemnification of Indemnitee is proper in the circumstances because Indemnitee met
a particular standard of conduct (an “Adverse Determination”). An Adverse Determination shall include the decision
that a Determination was required in connection with indemnification and the decision as to the applicable standard of conduct.

 

“DGCL” means the General
Corporation Law of the State of Delaware, as amended from time to time.

 

“Expenses” means all (i)
attorneys’ fees and expenses, retainers, court, arbitration and mediation costs, transcript costs, fees and expenses of experts,
witness and public relations consultants bonds and fees, traveling expenses, costs of collecting and producing documents, travel
expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements
or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
being or preparing to be a witness in, appealing or otherwise participating in a Proceeding or responding to, or objecting to,
a request to provide discovery in any Proceeding, (ii) damages, judgments, fines and amounts paid in settlement and any other amounts
that Indemnitee becomes legally obligated to pay (including any federal, state or local taxes imposed on Indemnitee as a result
of receipt of reimbursements or advances of expenses under this Agreement) and (iii) the premium, security for, and other costs
relating to any costs bond, supersedes bond or other appeal bond or its equivalent, whether civil, criminal, arbitrational, administrative
or investigative with respect to any Proceeding actually and reasonably incurred by Indemnitee, or on Indemnitee’s behalf,
because of any claim or claims made against or by him in connection with any Proceeding, whether formal or informal (including
an action by or in the right of the Company), to which Indemnitee is, was or at any time becomes a party or a witness, or is threatened
to be made a party to, participant in or a witness with respect to, by reason of Indemnitee’ Corporate Status.

 

“Independent Legal Counsel”
means an attorney or firm of attorneys competent to render an opinion under the applicable law, selected in accordance with the
provisions of Section 5(e), who has not performed any services (other than services similar to those contemplated to be performed
by Independent Legal Counsel under this Agreement) for the Company or any of its subsidiaries or for Indemnitee within the last
three years.

 

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“Proceeding” means a threatened,
pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, including without limitation
a claim, demand, discovery request, formal or informal investigation, inquiry, administrative hearing, arbitration or other form
of alternative dispute resolution, including an appeal from any of the foregoing.

 

“Voting Securities” means
any securities of the Company that vote generally in the election of directors.

 

(b)          Construction.
  For purposes of this Agreement,

 

(i)          References
to the Company and any of its “subsidiaries” shall include any corporation, limited liability company, partnership,
joint venture, trust or other entity or enterprise that before or after the date of this Agreement is party to a merger or consolidation
with the Company or any such subsidiary or that is a successor to the Company as contemplated by Section 8(e) (whether or not such
successor has executed and delivered the written agreement contemplated by Section 8(e)).

 

(ii)         References
to “fines” shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan.

 

(iii)        References
to a “witness” in connection with a Proceeding shall include any interviewee or person called upon to produce documents
in connection with such Proceeding.

 

2.            Agreement
to Serve.

 

Indemnitee agrees to serve as a director of
the Company or one or more of its subsidiaries and in such other capacities as Indemnitee may serve at the request of the Company
from time to time, and by its execution of this Agreement the Company confirms its request that Indemnitee serve as a director
and in such other capacities. Indemnitee shall be entitled to resign or otherwise terminate such service with immediate effect
at any time, and neither such resignation or termination nor the length of such service shall affect Indemnitee’s rights
under this Agreement. This Agreement shall not constitute an employment agreement, supersede any employment agreement to which
Indemnitee is a party or create any right of Indemnitee to continued employment or appointment.

 

3.            Indemnification.

 

(a)          General
Indemnification.   The Company shall indemnify Indemnitee, to the fullest extent permitted by applicable law in effect on the
date hereof or as amended to increase the scope of permitted indemnification, against Expenses, losses, liabilities, judgments,
fines, penalties and amounts paid in settlement (including all interest, taxes, assessments and other charges in connection therewith)
incurred by Indemnitee or on Indemnitee’s behalf in connection with any Proceeding in any way connected with, resulting from
or relating to Indemnitee’s Corporate Status.

 

    	3

    	 

    

 

(b)          Additional
Indemnification Regarding Expenses.   Without limiting the foregoing, in the event any Proceeding is initiated by Indemnitee,
the Company or any other person to enforce or interpret this Agreement or any rights of Indemnitee to indemnification or advancement
of Expenses (or related obligations of Indemnitee) under the Company’s or any such subsidiary’s certificate of incorporation,
bylaws or other organizational agreement or instrument, any other agreement to which Indemnitee and the Company or any of its subsidiaries
are party, any vote of stockholders or directors of the Company or any of its subsidiaries, the DGCL, any other applicable law
or any liability insurance policy, the Company shall indemnify Indemnitee against Expenses incurred by Indemnitee or on Indemnitee’s
behalf in connection with such Proceeding in proportion to the success achieved by Indemnitee in such Proceeding and the efforts
required to obtain such success, as determined by the court presiding over such Proceeding.

 

(c)          Partial
Indemnification.   If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for a portion
of any Expenses, losses, liabilities, judgments, fines, penalties and amounts paid in settlement incurred by Indemnitee, but not
for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for such portion.

 

(d)          Nonexclusivity.
  The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled
under the certificate of incorporation, bylaws or other organizational agreement or instrument of the Company or any of its subsidiaries,
any other agreement, any vote of stockholders or directors, the DGCL, any other applicable law or any liability insurance policy.

 

(e)          Exceptions.
  Any other provision herein to the contrary notwithstanding, the Company shall not be obligated under the Agreement to indemnify
Indemnitee:

 

(i)          For
Expenses incurred in connection with Proceedings initiated or brought voluntarily by the Indemnitee and not by way of defense,
counterclaim or crossclaim, except (x) as contemplated by Section 3(b), (y) in specific cases if the board of directors
of the Company has approved the initiation or bringing of such Proceeding, and (z) as may be required by law.

 

(ii)         For
an accounting of profits arising from the purchase and sale by the Indemnitee of securities within the meaning of Section 16(b)
of the Securities Exchange Act of 1934, as amended, or any similar provisions of any federal, state or local law if the final,
non-appealable judgment of a court of competent jurisdiction finds Indemnitee to be liable for disgorgement under such Section
16(b).

 

(iii)        On
account of Indemnitee’s conduct that is established by a final, non-appealable judgment of a court of competent jurisdiction
as knowingly fraudulent or deliberately dishonest or that constituted willful misconduct.

 

(iv)        For
which payment is actually made to Indemnitee under a valid and collectible insurance policy or under a valid and enforceable indemnity
clause, bylaw

 

    	4

    	 

    

 

or agreement, except in respect of any excess beyond payment
actually received by Indemnitee under such insurance, clause, bylaw or agreement.

 

(v)         if
and to the extent indemnification is prohibited by applicable law.

 

(f)           Subrogation.
 In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of the Indemnitee, who shall execute such documents and do such acts as the Company may reasonably request to secure
such rights and to enable the Company effectively to bring suit to enforce such rights.

 

4.            Advancement
of Expenses.

 

The Company shall pay all Expenses incurred
by Indemnitee in connection with any Proceeding in any way connected with, resulting from or relating to Indemnitee’s Corporate
Status, other than a Proceeding initiated by Indemnitee for which the Company would not be obligated to indemnify Indemnitee pursuant
to Section 3(e)(i), in advance of the final disposition (in accordance with Section 5(c)) of such Proceeding and without regard
to whether Indemnitee will ultimately be entitled to be indemnified for such Expenses and without regard to whether an Adverse
Determination has been made, except as contemplated by the last sentence of Section 5(f). The right to advances under this Section
4 shall in all events continue until final disposition of any Proceeding, including any appeal therein. Advances shall be made
without regard to Indemnitee’s ability to repay the expenses and without regard to Indemnitee’s ultimate entitlement
to indemnification under the other provisions of this Agreement. Indemnitee shall qualify for advances upon the execution and delivery
to the Company of this Agreement, and Indemnitee shall repay such amounts advanced only if and to the extent that it shall ultimately
be determined in a decision by a court of competent jurisdiction from which no appeal can be taken that Indemnitee is not entitled
to be indemnified by the Company for such Expenses. The right to advancement described in this Section 4 is vested. Such repayment
obligation shall be unsecured and shall not bear interest. The Company shall not impose on Indemnitee additional conditions to
advancement or require from Indemnitee additional undertakings regarding repayment.

 

5.            Indemnification
Procedure.

 

(a)          Notice
of Proceeding; Cooperation.   Indemnitee shall give the Company notice in writing as soon as practicable, and in any event, no
later than 30 days after Indemnitee becomes aware, of any Proceeding for which indemnification will or could be sought under this
Agreement, provided that any failure or delay in giving such notice shall not relieve the Company of its obligations under
this Agreement unless and to the extent that (i) none of the Company and its subsidiaries are party to or aware of such Proceeding
and (ii) the Company is materially prejudiced by such failure.

 

(b)          Settlement.
  The Company will not, without the prior written consent of Indemnitee, which may be provided or withheld in Indemnitee’s
sole discretion, effect any settlement of any Proceeding against Indemnitee or which could have been brought against Indemnitee
unless such settlement solely involves the payment of money by persons other than

 

    	5

    	 

    

 

Indemnitee and includes an unconditional release of Indemnitee from
all liability on any matters that are the subject of such Proceeding and an acknowledgment that Indemnitee denies all wrongdoing
in connection with such matters. The Company shall not be obligated to indemnify Indemnitee against amounts paid in settlement
of a Proceeding against Indemnitee if such settlement is effected by Indemnitee without the Company’s prior written consent,
which shall not be unreasonably withheld.

 

(c)          Request
for Payment; Timing of Payment.   To obtain indemnification payments or advances under this Agreement, Indemnitee shall submit
to a Company a written request therefor, together with such invoices or other supporting information as may be reasonably requested
by the Company and reasonably available to Indemnitee. The Company shall make indemnification payments to Indemnitee no later than
30 days, and advances to Indemnitee no later than 20 days, after receipt of the written request of Indemnitee.

 

(d)          Determination.
  The Company intends that Indemnitee shall be indemnified to the fullest extent permitted by law as provided in Section 3 and that
no Determination shall be required in connection with such indemnification. In no event shall a Determination be required in connection
with advancement of Expenses pursuant to Section 4 or in connection with indemnification for Expenses incurred as a witness or
incurred in connection with any Proceeding or portion thereof with respect to which Indemnitee has been successful on the merits
or otherwise. Any decision that a Determination is required by law in connection with any other indemnification of Indemnitee,
and any such Determination, shall be made within 30 days after receipt of Indemnitee’s written request for indemnification,
as follows:

 

(i)          If
no Change in Control has occurred, (w) by a majority vote of the directors of the Company who are not parties to such Proceeding,
even though less than a quorum, with the advice of Independent Legal Counsel, or (x) by a committee of such directors designated
by majority vote of such directors, even though less than a quorum, with the advice of Independent Legal Counsel, or (y)
if there are no such directors, or if such directors so direct, by Independent Legal Counsel in a written opinion to the Company
and Indemnitee, or (z) by the stockholders of the Company.

 

(ii)         If
a Change in Control has occurred, by Independent Legal Counsel in a written opinion to the Company and Indemnitee.

 

The Company shall pay all Expenses incurred by Indemnitee in connection
with a Determination.

 

(e)          Independent
Legal Counsel.   If there has not been a Change in Control, Independent Legal Counsel shall be selected by the board of directors
of the Company and approved by Indemnitee (which approval shall not be unreasonably withheld or delayed). If there has been a Change
in Control, Independent Legal Counsel shall be selected by Indemnitee and approved by the Company (which approval shall not be
unreasonably withheld or delayed). The Company shall pay the fees and expenses of Independent Legal Counsel and indemnify Independent
Legal Counsel against any and all expenses (including attorneys’ fees), claims, liabilities and damages arising out of or
relating to its engagement.

 

    	6

    	 

    

 

(f)           Consequences
of Determination; Remedies of Indemnitee.   The Company shall be bound by and shall have no right to challenge a Favorable Determination.
If an Adverse Determination is made, or if for any other reason the Company does not make timely indemnification payments or advances
of Expenses, Indemnitee shall have the right to commence a Proceeding before a court of competent jurisdiction to challenge such
Adverse Determination and/or to require the Company to make such payments or advances. Indemnitee shall be entitled to be indemnified
for all Expenses incurred in connection with such a Proceeding in accordance with Section 3(b) and to have such Expenses advanced
by the Company in accordance with Section 4. If Indemnitee fails to timely challenge an Adverse Determination, or if Indemnitee
challenges an Adverse Determination and such Adverse Determination has been upheld by a final judgment of a court of competent
jurisdiction from which no appeal can be taken, then, to the extent and only to the extent required by such Adverse Determination
or final judgment, the Company shall not be obligated to indemnify or advance Expenses to Indemnitee under this Agreement.

 

(g)          Presumptions;
Burden and Standard of Proof.   In connection with any Determination, or any review of any Determination, by any person, including
a court:

 

(i)          It
shall be a presumption that a Determination is not required.

 

(ii)         It
shall be a presumption that Indemnitee has met the applicable standard of conduct and that indemnification of Indemnitee is proper
in the circumstances.

 

(iii)        The
burden of proof shall be on the Company to overcome the presumptions set forth in the preceding clauses (i) and (ii), and each
such presumption shall only be overcome if the Company establishes that there is no reasonable basis to support it.

 

(iv)        The
termination of any Proceeding by judgment, order, finding, settlement (whether with or without court approval) or conviction, or
upon a plea of nolo contendere, or its equivalent, shall not create a presumption that indemnification is not
proper or that Indemnitee did not meet the applicable standard of conduct or that a court has determined that indemnification
is not permitted by this Agreement or otherwise.

 

(v)         Neither the failure of any person
or persons to have made a Determination nor an Adverse Determination by any person or persons shall be a defense to Indemnitee’s
claim or create a presumption that Indemnitee did not meet the applicable standard of conduct, and any Proceeding commenced by
Indemnitee pursuant to Section 5(f) shall be de novo with respect to all determinations of fact and law.

 

6.            Directors
and Officers Liability Insurance.

 

(a)          Maintenance
of Insurance.   So long as the Company or any of its subsidiaries maintains liability insurance for any directors, officers,
employees or agents of any such person, the Company shall ensure that Indemnitee is covered by such insurance in such a manner
as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s and
its subsidiaries’ then current directors and officers. If at

 

    	7

    	 

    

 

any date (i) such insurance ceases to cover acts and omissions occurring
during all or any part of the period of Indemnitee’s Corporate Status or (ii) neither the Company nor any of its subsidiaries
maintains any such insurance, the Company shall ensure that Indemnitee is covered, with respect to acts and omissions prior to
such date, for at least six years (or such shorter period as is available on commercially reasonable terms) from such date, by
other directors and officers liability insurance, in amounts and on terms (including the portion of the period of Indemnitee’s
Corporate Status covered) no less favorable to Indemnitee than the amounts and terms of the liability insurance maintained by the
Company on the date hereof.

 

(b)          Notice
to Insurers.   Upon receipt of notice of a Proceeding pursuant to Section 5(a), the Company shall give or cause to be given prompt
notice of such Proceeding to all insurers providing liability insurance in accordance with the procedures set forth in all applicable
or potentially applicable policies. The Company shall thereafter take all necessary action to cause such insurers to pay all amounts
payable in accordance with the terms of such policies.

 

7.            Exculpation,
etc.

 

(a)          Limitation
of Liability.   Indemnitee shall not be personally liable to the Company or any of its subsidiaries or to the stockholders
of the Company or any such subsidiary for monetary damages for breach of fiduciary duty as a director of the Company or any such
subsidiary; provided, however, that the foregoing shall not eliminate or limit the liability of the Indemnitee (i)
for any breach of the Indemnitee’s duty of loyalty to the Company or such subsidiary or the stockholders thereof; (ii)
for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law; (iii)
under Section 174 of the DGCL or any similar provision of other applicable corporations law; or (iv) for any transaction
from which the Indemnitee derived an improper personal benefit. If the DGCL or such other applicable law shall be amended to permit
further elimination or limitation of the personal liability of directors, then the liability of the Indemnitee shall, automatically,
without any further action, be eliminated or limited to the fullest extent permitted by the DGCL or such other applicable law
as so amended.

 

(b)          Period
of Limitations.   No legal action shall be brought and no cause of action shall be asserted by or in the right of
the Company or any of its subsidiaries against Indemnitee or Indemnitee’s estate, spouses, heirs, executors, personal or
legal representatives, administrators or assigns after the expiration of two years from the date of accrual of such cause of action,
and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing
of a legal action within such two-year period, provided that if any shorter period of limitations is otherwise applicable
to any such cause of action, such shorter period shall govern.

 

8.            Miscellaneous.

 

(a)          Non-Circumvention.
  The Company shall not seek or agree to any order of any court or other governmental authority that would prohibit or otherwise
interfere, and shall not take or fail to take any other action if such action or failure would reasonably be expected to

 

    	8

    	 

    

 

have the effect of prohibiting or otherwise interfering, with the
performance of the Company’s indemnification, advancement or other obligations under this Agreement.

 

(b)          Severability.
  If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable. for any reason whatsoever:
(i) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation,
each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that
is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable
to the fullest extent permitted by law; (ii) such provision or provisions shall be deemed reformed to the extent necessary
to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (iii) to the fullest
extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable)
shall be construed so as to give effect to the intent manifested thereby.

 

(c)          Notices.
  All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed
duly given (i) on the date of delivery if delivered personally, or by facsimile, upon confirmation of receipt, (ii)
on the first business day following the date of dispatch if delivered by a recognized next-day courier service or (iii)
on the third business day following the date of mailing if delivered by domestic registered or certified mail, properly addressed,
or on the fifth business day following the date of mailing if sent by airmail from a country outside of North America, to Indemnitee
at the address shown on the signature page of this Agreement, to the Company at the address shown on the signature page of this
Agreement, or in either case as subsequently modified by written notice.

 

(d)          Amendment
and Termination.  No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is
in writing signed by all the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver.

 

(e)          Successors
and Assigns.   This Agreement shall be binding upon the Company and its respective successors and assigns, including without
limitation any acquiror of all or substantially all of the Company’s assets or business, any person (as such term is used
in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) that acquires beneficial ownership of securities
of the Company representing more than 20% of the total voting power represented by the Company’s then outstanding Voting
Securities and any survivor of any merger or consolidation to which the Company is party, and shall inure to the benefit of and
be enforceable by Indemnitee and Indemnitee’s estate, spouses, heirs, executors, personal or legal representatives, administrators
and assigns. The Company shall require and cause any such successor, by written agreement in form and substance satisfactory to
Indemnitee, expressly to assume and agree to perform this Agreement as if it were named as the Company herein, and the Company
shall not permit any such purchase of assets or business, acquisition of securities or merger or consolidation to occur until such
written agreement has been executed and delivered. No such assumption and agreement shall relieve the Company of any of its obligations
hereunder, and this Agreement shall not otherwise be assignable by the Company. This

 

    	9

    	 

    

 

Agreement is personal in nature and neither of the parties hereto
shall, without the consent of the other, assign or delegate this Agreement or any rights or obligations. Without limiting the generality
or effect of the foregoing, Indemnitee’s right to receive payments hereunder shall not be assignable, whether by pledge,
creation of a security interest or otherwise, other than by a transfer by the Indemnitee’s will or by estate law, and, in
the event of any attempted assignment or transfer contrary to this Section 8(e), the Company shall have no liability to pay any
amount so attempted to be assigned or transferred.

 

(f)           Choice
of Law; Consent to Jurisdiction.   This Agreement shall be governed by and its provisions construed in accordance with the laws
of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware,
without regard to the conflict of law principles thereof. The Company and Indemnitee each hereby irrevocably consents to the jurisdiction
of the courts of the State of Delaware for all purposes in connection with any Proceeding which arises out of or relates to this
Agreement and agree that any action instituted under this Agreement shall be brought only in the state courts of the State of Delaware.

 

(g)          Integration
and Entire Agreement.   This Agreement sets forth the entire understanding between the parties hereto and supersedes and merges
all previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between
the parties hereto, provided that the provisions hereof shall not supersede the provisions of the Company’s certificate of
incorporation, bylaws or other organizational agreement or instrument, any other agreement, any vote of stockholders or directors,
the DGCL or other applicable law, to the extent any such provisions shall be more favorable to Indemnitee than the provisions hereof.

 

(h)          Counterparts.   This
Agreement may be executed in one or more counterparts, each of which shall constitute an original.

  

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blank]

 

    	10

    	 

    

 

In Witness
Whereof, the parties hereto have executed this Agreement as of the date first above written.

 

	 	Angion Biomedica Corp.	 
	 	 	 
	 	By:	 	 
	 	Name:	 
	 	Title:	 

 

	 	Address:	 	 
	 		 	 
	 	 	 	 

 

Agreed to and Accepted:

 

Indemnitee:

 

	By:	 	 
	Name:	 
	Title:	 

 

	Address:	 	 
	 	 	 
	 	 	 

 

    	11

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