Document:

Exhibit 4.7

 

Warrant Holder: XX

 

Exhibit A

 

WARRANT

 

THE SECURITIES REPRESENTED BY THIS WARRANT
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES HAVE
BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, OR AN OPINION
OF COUNSEL IN A FORM REASONABLY SATISFACTORY TO THE ISSUER THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR APPLICABLE STATE
SECURITIES LAWS OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT.

 

THE SHARES EVIDENCED HEREBY ARE SUBJECT
TO CERTAIN RESTRICTIONS AND REPURCHASE RIGHTS IN THE COMPANY’S CHARTER AND BYLAWS, AS MAY BE AMENDED FROM TIME TO TIME,
(A COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST FROM THE COMPANY), AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON
ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS THEREOF, INCLUDING CERTAIN RESTRICTIONS
ON TRANSFER AND OWNERSHIP SET FORTH THEREIN.

 

Warrant
To Purchase Common Stock

 

	Warrant
    No.: X	Number
    of Shares: X
	 	Warrant Exercise Price:
    $XX per share
	Date of Issuance:
    DATE	Expiration Date: DATE

 

Inhibikase Therapeutics, Inc., a Delaware
corporation (the “Company”), hereby certifies that XX (the “Holder”), the registered Holder
hereof or its permitted assigns, is entitled, subject to the terms set forth below, to purchase from the Company upon surrender
of this Warrant, at any time or times on or after the date hereof (the “Effective Date”), but not after 11:59 P.M.
Eastern Time on the Expiration Date (as defined herein) XX fully paid and nonassessable shares of the Common Stock (as defined
herein) of the Company (the “Warrant Shares”) at the exercise price per share of $XX. Upon the written request
of the Holder, the Company shall promptly, but in no event later than three (3) Business Days following the receipt of such notice,
confirm in writing to any such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding
shares of Common Stock shall be determined after giving effect to the exercise of Warrants (as defined below) by such Holder and
its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The Holder and the Company
agree Warrant Holder: XX that notwithstanding any terms to the contrary contained herein, the Holder shall have no right to exercise
this Warrant until the Effective Date.

 

    -1- 

     

    

 

Warrant Holder: XX

 

1.                 
 

 

(a)              
Definitions. The following words and terms as used in this Warrant shall have the following meanings:

 

(i)                
“Acquisition” means (a) any sale, exclusive license, or other disposition of all or substantially all
of the assets (including the intellectual property) of the Company, or (b) any reorganization, consolidation, merger or sale of
the voting securities of the Company or any other transaction where following the transaction more than 50% of the outstanding
voting securities of the Company or the surviving entity after the transaction are held by one entity along with its Affiliated
Entities.

 

(ii)               
“Affiliated Entity” means any general partner of a Person, if such Person is a partnership, or any person
or entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or in under common control
with, such Person.

 

(iii)              
“Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in City
of Atlanta or the State of Georgia are authorized or required by law to remain closed.

 

(iv)             
“Common Stock” means (i) the Company’s Common Stock, par value $0.001 per share, and (ii) any
capital stock into which such Common Stock shall have been changed or any capital stock resulting from a reclassification of such
Common Stock.

 

(v)               
“Effective Date” means the date of the issuance date of this Warrant.

 

(vi)              
“Expiration Date” means the earliest of (i) the date ten (10) years from the Issuance Date of this Warrant
or, if such date falls on a Saturday, Sunday or other day on which banks are required or authorized to be closed in the City of
Atlanta or the State of Georgia (a “Holiday”), the next date that is not a Holiday; or (ii) the date on which
there is an Acquisition of the Company.

 

(vii)             
“Issuance Date” means the date hereof.

 

(viii)            “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization
and a government or any department or agency thereof.

 

(ix)               
“Securities Act” means the Securities Act of 1933, as amended.

 

(x)               
“Warrant” means this Warrant and all Warrants issued in exchange, transfer or replacement thereof.

 

(xi)              
“Warrant Exercise Price” shall be the price set forth on page one of this Warrant or as subsequently
adjusted as provided in Section 8 hereof.

 

(xii)              
“Warrant Shares” means the shares of Common Stock issuable at any time upon exercise of this Warrant.

 

    -2- 

     

    

 

Warrant Holder: XX

 

(b)              
Other Definitional Provisions.

 

(i)                
Except as otherwise specified herein, all references herein (A) to the Company shall be deemed to include the Company’s
successors and (B) to any applicable law defined or referred to herein shall be deemed references to such applicable law as the
same may have been or may be amended or supplemented from time to time.

 

(ii)               
When used in this Warrant, the words “herein”, “hereof”, and “hereunder”
and words of similar import, shall refer to this Warrant as a whole and not to any provision of this Warrant, and the words “Section”,
 “Schedule”, and “Exhibit” shall refer to Sections of, and Schedules and Exhibits to, this
Warrant unless otherwise specified.

 

(iii)             
Whenever the context so requires, the neuter gender includes the masculine or feminine, and the singular number includes
the plural, and vice versa.

 

2.                 
Exercise of Warrant.

 

(a)              
Subject to the terms and conditions hereof, this Warrant may be exercised by the Holder hereof then registered on the books
of the Company, pro rata as hereinafter provided, at any time on any Business Day on or after the opening of business on such
Business Day, commencing with the Effective Date, and prior to 11:59 P.M. Eastern Time on the Expiration Date, by (i) delivery
of a written notice, in the form of the subscription notice attached as Exhibit A hereto (the “Exercise Notice”),
of such Holder’s election to exercise this Warrant, which notice shall specify the number of Warrant Shares to be purchased
which shall not be less than 5,000 shares in each case (or if less than 5,000 shares are covered by the Warrant, such lesser amount
(as such minimum number may be adjusted pursuant to Section 8), (ii) payment to the Company of an amount equal to the Warrant
Exercise Price(s) applicable to the Warrant Shares being purchased, multiplied by the number of Warrant Shares (at the applicable
Warrant Exercise Price) as to which this Warrant is being exercised (plus any applicable issue or transfer taxes) (the “Aggregate
Exercise Price”) in cash or wire transfer of immediately available funds and (iii) the surrender of this Warrant (or
an indemnification undertaking with respect to this Warrant in the case of its loss, theft or destruction) to a common carrier
for overnight delivery to the Company as soon as practicable following such date. In the event of any exercise of the rights represented
by this Warrant in compliance with this Section 2, the Company shall on or before the thirtieth (30th) Business Day following
the date of receipt of the Exercise Notice, the Aggregate Exercise Price and this Warrant (or an indemnification undertaking satisfactory
to the Company with respect to this Warrant in the case of its loss, theft or destruction) and the receipt of the representations
of the Holder specified in Section 6 hereof, if requested by the Company (the “Exercise Delivery Documents”),
issue and surrender to a common carrier for overnight delivery to the address specified in the Exercise Notice, a certificate,
registered in the name of the Holder, for the number of shares of Common Stock to which the Holder shall be entitled pursuant
to such request. Upon delivery of the Exercise Notice and Aggregate Exercise Price referred to in clause (ii) above the Holder
of this Warrant shall be deemed for all corporate purposes to have become the Holder of record of the Warrant Shares with respect
to which this Warrant has been exercised.

 

    -3- 

     

    

 

Warrant Holder: XX

 

(b)              
Unless the rights represented by this Warrant shall have expired or shall have been fully exercised, the Company shall,
as soon as practicable and in no event later than thirty (30) Business Days after any exercise and at its own expense, issue a
new Warrant identical in all respects to this Warrant exercised except it shall represent rights to purchase the number of Warrant
Shares purchasable immediately prior to such exercise under this Warrant exercised, less the number of Warrant Shares with respect
to which such Warrant is exercised.

 

(c)              
No fractional Warrant Shares are to be issued upon any pro rata exercise of this Warrant, but rather the number of Warrant
Shares issued upon such exercise of this Warrant shall be rounded up or down to the nearest whole number.

 

(d)              
The Company will provide the Holder with ten (10) days advance notice of any Acquisition of the Company or a Registration.

 

3.                 
Covenants as to Common Stock. The Company hereby covenants and agrees as follows:

 

(a)              
This Warrant is, and any Warrants issued in substitution for or replacement of this Warrant will upon issuance be, duly
authorized and validly issued.

 

(b)              
All Warrant Shares which may be issued upon the exercise of the rights represented by this Warrant will, upon issuance,
be validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof.

 

(c)              
The Company will at all times have authorized and reserved at least one hundred percent (100%) of the number of shares
of Common Stock needed to provide for the exercise of the rights then represented by this Warrant and the par value of said shares
will at all times be less than or equal to the applicable Warrant Exercise Price. If at any time the Company does not have a sufficient
number of shares of Common Stock authorized and available, then the Company shall call and hold a special meeting of its stockholders
within sixty (60) days of that time for the sole purpose of increasing the number of authorized shares of Common Stock.

 

(d)              
The Company will not, by amendment of its Articles of Incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms to be observed or performed by it hereunder, but will at all times in good faith assist in
the carrying out of all the provisions of this Warrant. The Company will not increase the par value of any shares of Common Stock
receivable upon the exercise of this Warrant above the Warrant Exercise Price then in effect, and (ii) will take all such actions
as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares
of Common Stock upon the exercise of this Warrant.

 

4.                 
Warrant Holder Not Deemed a Stockholder. Except as otherwise specifically provided herein, no Holder, as such, of
this Warrant shall be entitled to vote or receive dividends or be deemed the holder of shares of capital stock of the Company
for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder hereof, as such, any of the
rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization,
issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive
dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which he or she is then
entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as
imposing any liabilities on such Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder
of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

 

    -4- 

     

    

 

Warrant Holder: XX

 

5.                 
Representations of Holder. The Holder of this Warrant, by the acceptance hereof, represents that it is acquiring
this Warrant and the Warrant Shares for its own account for investment only and not with a view towards, or for resale in connection
with, the public sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered or exempted under
the Securities Act; provided, however, that by making the representations herein, the Holder does not agree to hold this Warrant
or any of the Warrant Shares for any minimum or other specific term and reserves the right to dispose of this Warrant and the
Warrant Shares at any time in accordance with or pursuant to a registration statement or an exemption under the Securities Act
and other applicable securities laws. The Holder of this Warrant further represents, by acceptance hereof, that, as of this date,
such Holder is an “accredited investor” as such term is defined in Rule 501(a)(1) of Regulation D promulgated by the
Securities and Exchange Commission under the Securities Act (an “Accredited Investor”). Upon exercise or exchange
(pursuant to Section 16) of this Warrant the Holder shall, if requested by the Company, confirm in writing, in a form satisfactory
to the Company, that the Warrant Shares so purchased are being acquired solely for the Holder’s own account and not as a
nominee for any other party, for investment, and not with a view toward distribution or resale and that such Holder is an Accredited
Investor. If such Holder cannot make such representations because they would be factually incorrect, it shall be a condition to
such Holder’s exercise of this Warrant that the Company receive such other representations as the Company considers reasonably
necessary to assure the Company that the issuance of its securities upon exercise of this Warrant shall not violate any United
States or state securities laws.

 

6.                 
Ownership and Transfer.

 

(a)              
The Company shall maintain at its principal executive offices (or such other office or agency of the Company as it may
designate by notice to the Holder hereof), a register for this Warrant, in which the Company shall record the name and address
of the person in whose name this Warrant has been issued, as well as the name and address of each transferee. The Company may
treat the person in whose name any Warrant is registered on the register as the owner and Holder thereof for all purposes, notwithstanding
any notice to the contrary, but in all events recognizing any transfers made in accordance with the terms of this Warrant.

 

(b)              
The Company agrees that, subject to the satisfaction of the conditions set forth in this Section 7(b), the Holder shall
be entitled to transfer all or any portion of this Warrant or of the Warrant Shares (i) in the case that the Holder is an incorporated
or other entity, to an Affiliated Entity of the Holder or (ii) in the case that the Holder is a natural person, for bona fide
estate planning purposes, either during his or her lifetime or on death by will or intestacy to his or her spouse, child (natural
or adopted), or any other direct lineal descendant of such Holder (or his or her spouse) (all of the foregoing collectively referred
to as “family members”), or to any custodian or trustee of any trust, partnership or limited liability company for
the benefit of, or the ownership interests of which are owned wholly by, such Holder or any such family members. The Holder agrees
not to make any transfer or disposition of the Warrant or all or any portion of the Warrant Shares to any Affiliated Entity, family
member or custodian or trustee or to any other Person unless and until (i) the Holder shall have notified the Company of the proposed
disposition and shall have furnished the Company with a reasonably detailed statement of the circumstances surrounding the proposed
disposition and (ii) the transferee has agreed in writing for the benefit of the Company to be bound by the terms of this Warrant
and any other stockholder or similar agreement among substantially all other holders of Common Stock as reasonably requested by
the Company. Any transfer in violation of this Section 7(b) shall be void ab initio.

 

    -5- 

     

    

 

Warrant Holder: XX

 

7.                 
Adjustment of Warrant Exercise Price and Number of Shares. The Warrant Exercise Price and the number of shares of
Common Stock issuable upon exercise of this Warrant shall be adjusted from time to time as follows:

 

(a)              
Adjustment of Warrant Exercise Price upon Subdivision or Combination of Common Stock. If the Company at any time
after the date of issuance of this Warrant subdivides (by any stock split, stock dividend, recapitalization or otherwise) one
or more classes of its outstanding shares of Common Stock into a greater number of shares, any Warrant Exercise Price in effect
immediately prior to such subdivision will be proportionately reduced and the number of shares of Common Stock obtainable upon
exercise of this Warrant will be proportionately increased. If the Company at any time after the date of issuance of this Warrant
combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common Stock into
a smaller number of shares, any Warrant Exercise Price in effect immediately prior to such combination will be proportionately
increased and the number of Warrant Shares issuable upon exercise of this Warrant will be proportionately decreased. Any adjustment
under this Section 8(a) shall become effective at the close of business on the date the subdivision or combination becomes effective.

 

(b)              
Notices. Promptly upon any adjustment of the Warrant Exercise Price, the Company will give written notice thereof
to the Holder of this Warrant, setting forth in reasonable detail, and certifying, the calculation of such adjustment.

 

8.                 
Mutilated or Destroyed Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company shall promptly,
on receipt of an indemnification undertaking (or, in the case of a mutilated Warrant, the Warrant), issue a new Warrant of like
denomination and tenor as this Warrant so lost, stolen, mutilated or destroyed.

 

9.                 
Notice. Any notices, consents, waivers or other communications required or permitted to be given under the terms
of this Warrant must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii)
upon receipt, when sent by facsimile (provided confirmation of receipt is received by the sending party transmission is mechanically
or electronically generated and kept on file by the sending party); or (iii) one Business Day after deposit with a nationally
recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile
numbers for such communications shall be:

 

    -6- 

     

    

 

Warrant Holder: XX

 

	If
    to Holder:	mross@JoCapLLC.com

        and also, separately, to:

        mikepross@gmail.com

         

        and also, separately, to:

         

        Michael Ross

        300 Central Park West, Apt. 15-C2

        New York, NY 10024-1593

	 	 
	If
    to the Company, to:	Inhibikase Therapeutics, Inc.

        3350 Riverwood Parkway, Suite
        1900

        Atlanta, GA 30339 Attn:

        Milton Werner, Ph.D.

        President and CEO 

 

If to a Holder of this Warrant, to it
at the address and facsimile number set forth on Exhibit C hereto, with copies to such Holder’s representatives as
set forth on Exhibit C, or at such other address and facsimile as shall be delivered to the Company upon the issuance or
transfer of this Warrant. Each party shall provide five days’ prior written notice to the other party of any change in address
or facsimile number. Written confirmation of receipt (A) given by the recipient of such notice, consent, facsimile, waiver or
other communication, or (B) provided by a nationally recognized overnight delivery service shall be rebuttable evidence of personal
service, receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance with clause (i),
(ii) or (iii) above, respectively.

 

10.               
Date. The date of this Warrant is set forth on page 1 hereof. This Warrant, in all events, shall be wholly void
and of no effect after the close of business on the Expiration Date.

 

11.               
Amendment and Waiver. Except as otherwise provided herein, the provisions of the Warrants may be amended and the
Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company
has obtained the written consent of the Requisite Holders; provided that, except for Sections 8(a) and 8(d), no such action may
increase the Warrant Exercise Price or decrease the number of shares or class of stock obtainable upon exercise of any Warrant
without the written consent of the Holder of such Warrant.

 

12.               
Descriptive Headings; Governing Law. The descriptive headings of the several sections and paragraphs of this Warrant
are inserted for convenience only and do not constitute a part of this Warrant. 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 Delaware, for the adjudication of any dispute
hereunder or in connection herewith or therewith, 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.

 

    -7- 

     

    

 

Warrant Holder: XX

 

13.               
Waiver of Jury Trial. AS A MATERIAL INDUCEMENT FOR EACH PARTY HERETO TO ENTER INTO THIS WARRANT, THE PARTIES
HERETO HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING RELATED IN ANY WAY TO THIS WARRANT AND/OR ANY AND ALL OF
THE OTHER DOCUMENTS ASSOCIATED WITH THIS TRANSACTION.

 

14.                
Lock-Up Agreement. If requested by the Company and the managing underwriter, Holder agrees to enter into a lock-up
agreement (the “Lock-up Agreement”) pursuant to which it will not, for a period of no more than 180 days following
the effective date of the first registration statement of the Company’s Initial Public Offering, offer, sell or otherwise
dispose of the Shares or any other equity securities of the Company held. The Lock-up Agreement shall provide that the provisions
thereof may be waived with the consent of the Company and the managing underwriter

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be signed as of the date first set forth above.

 

	Joseph
    Ventures Allium LLC	 	Inhibikase
    Therapeutics, Inc.
	 	 	 
	 	 	 
	By:	 	 	By:	 
	Name:  	Michael
    P. Ross	 	Name:  	Milton
    Werner, Ph.D.
	Title:	 	 	Title:	President
    & Chief Executive Officer

 

    -8- 

     

    

 

Warrant Holder: XX

 

EXHIBIT
A TO WARRANT

 

EXERCISE
NOTICE

 

TO BE
EXECUTED

BY THE REGISTERED HOLDER TO EXERCISE THIS WARRANT

 

The undersigned Holder hereby exercises
the right to purchase XX of the shares of Common Stock (“Warrant Shares”) of Inhibikase Therapeutics, Inc.,
a Delaware corporation (the “Company”), evidenced by the attached Warrant (the “Warrant”).
Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

 

1.       Form
of Warrant Exercise Price. The Holder intends that payment of the Warrant Exercise Price shall be made as a “Cash
Exercise” with respect to XX Warrant Shares.

 

2.       Payment
of Warrant Exercise Price. The Holder shall pay the sum of $XX to the Company in accordance with the terms of the Warrant.

 

3.       Delivery
of Warrant Shares. The Company shall deliver to the Holder XX_Warrant Shares in accordance with the terms of the Warrant.

 

Date:.

 

Holder

 

	By:	 	 

 

Name:

 

    A-1 

     

    

 

Warrant Holder: XX

 

EXHIBIT
B TO WARRANT

 

FORM
OF WARRANT POWER

 

FOR
VALUE RECEIVED, the undersigned does hereby assign and transfer to                     , Federal Identification No.                      ,
a warrant to purchase                          shares of the capital stock of Inhibikase Therapeutics, Inc., a Delaware corporation, represented
by warrant certificate no.                 , standing in the name of the undersigned on the books of said corporation. The undersigned
does hereby irrevocably constitute and appoint                    , attorney to transfer the warrants of said corporation, with full power
of substitution in the premises.

 

	Dated:	 	 	 

 

	 	By:	 
	 	Name:  	 
	 	Title:	 

 

    B-1Exhibit 4.8

 

CONVERTIBLE

REVOLVING DEMAND PROMISSORY NOTE

 

Inhibikase Therapeutics, Inc.

Atlanta, Georgia

 

THIS CONVERTIBLE REVOLVING DEMAND PROMISSORY
NOTE (THE “NOTE”) AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT AND WILL NOT HAVE BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), APPLICABLE STATE SECURITIES LAWS OR APPLICABLE LAWS
OF ANY FOREIGN JURISDICTION. THIS NOTE HAS BEEN AND SUCH UNDERLYING SECURITIES HAVE BEEN, AS THE CASE MAY BE, ACQUIRED FOR
INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, RENOUNCED OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF EITHER (A) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE
SECURITIES LAWS OR, IF APPLICABLE, ANY FOREIGN JURISDICTION OR (B) IN THE OPINION OF COUNSEL SATISFACTORY TO COMPANY, THE AVAILABILITY
OF AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE SECURITIES LAWS
OR, IF APPLICABLE, ANY FOREIGN JURISDICTION.

 

Except as otherwise defined in the
text hereof, capitalized terms and phrases shall have the meaning ascribed thereto in Section 7 of this Note.

 

		$75,000	Issue Date: April 3, 2018

 

Inhibikase Therapeutics,
Inc. (hereinafter “Maker”) promises to pay to Flagship Consulting, Inc. (hereinafter “Payee”) the sum of
up to Seventy-five Thousand Dollars ($75,000) or such amount as is accrued from time to time by Maker in unpaid fees and costs
incurred for and on its behalf (the “Fees and Costs”) as are from time to time reflected on Payee’s monthly statements
for services rendered (the “Statements”), whichever amount is less (the “Principal”), together with
interest thereon from and after the date hereof until paid in full, all as provided in this Convertible Revolving Demand Promissory
Note (hereinafter, the “Note”). Maker and Payee agree that the balance due under this Note for Fees and Costs shall
be updated based on Payee’s Statements as the same are published from time to time by modifying that certain schedule entitled
 “Schedule of Fees and Costs,” which is attached hereto, marked as Exhibit “A,” and made a part hereof,
to reflect such updated balance; provided, however, that such updating shall only serve as a ministerial act in accounting
for the Principal amount, and any failure to perform or delay in performing such updating shall in no event affect the amount due
under this Note.

 

1.                  
Payment of Principal and Interest.

 

(a)                
Payment in Cash. This Note is payable either in full or in part until paid in full, as the case may be, without demand
and in immediately available funds, not later than the earlier to occur of either a Significant Transaction or the 30th
day of June 2019 (either such date, the “Maturity Date”).

 

(b)               
Interest. From and including the Issue Date to and including the date this Note is paid or otherwise discharged in
full, the unpaid Principal amount of this Note shall bear simple interest at Five Percent (5%) per annum, computed on the basis
of a year of 360 days; provided, however, that upon the occurrence, and during the continuance of an Event of Default
hereunder, this Note shall bear simple interest at Twelve Percent (12%) per annum, computed on the basis of a year of 360 days.

 

(c)                
Tender. All payments of Principal and interest shall be made in lawful money of the United States of America and
shall be made to Payee via wire transfer or certified check to an account designated by Payee or, if no account is so designated,
at Payee’s address or at such other place as Payee may designate to Maker in writing in accordance with Section 13 of this
Note.

 

    	 	Page 1

     

    

 

2.                  
 Obligation to Notify. Maker shall notify Payee in writing (a) thirty (30) days in advance of a
Significant Transaction, and (b) provide Payee with any and all documents relating thereto within 48 hours of being requested by
Payee, subject to Payee executing with and in favor and to the satisfaction of Maker an agreement pursuant to which it agrees to
restrictions on the disclosure, use and ownership of any and all such documents and information contained therein. These rights
set forth in this Section shall terminate upon the repayment of the Note in full.

 

3.                  
Option to Elect Payment in Conversion Shares. Notwithstanding any provision of this Note to the
contrary, Payee shall have the option, exercisable in his sole and absolute discretion at any time commencing with the Issue Date
and ending as of the date on which the Unpaid Balance of this Note is paid in full, to Convert all or any portion of the Unpaid
Balance as determined on the Conversion Date into Conversion Shares, in such number of Conversion Shares as shall equal that portion
of the Unpaid Balance as Payee may elect in his discretion to be converted, divided the Conversion Share Price.

 

4.                  
Prepayment. This Note may be prepaid prior to the Maturity Date at the option of Maker in cash,
without premium or penalty, at the Principal amount so to be prepaid, together with interest accrued thereon to the date fixed
for such prepayment; provided, however, that in no event may any such prepayment or other cash payment be made until and
unless Maker shall have given prior written notice of its intent to pay all or any portion of this Note to Payee, which notice
shall be given not less than ten (10) nor more than thirty (30) days prior to the date fixed for such payment in such notice and
shall specify the amount so to be paid and the date fixed for such payment (the “Notice Period”). Notwithstanding any
provision of this Note to the contrary, during such Notice Period, Payee may exercise Payee’s rights under Section 3 of this
Note to cause the Conversion all or any part of the Unpaid Balance to Conversion Shares. Subject to the foregoing, upon the giving
of notice of its payment, Maker shall pay on the date therein fixed for any such payment.

 

5.                  
Payments Credited First Against Interest. Notwithstanding any provision in this Note to the contrary,
any payment of this Note, whether as a partial payment or in full, will be credited first against accrued interest, then Principal,
in reverse chronological order.

 

6.                  
Surrender of Note. Upon any such partial payment of the Unpaid Balance, this Note, at the election
of Maker, shall be either (a) surrendered to Maker in exchange for a new Note in a Principal amount equal to Unpaid Balance on
the Note surrendered, and otherwise having the same terms and provisions as this Note (and for purposes of the foregoing provisions
of this Section to be deemed to be the same Note and not a novation of the indebtedness represented thereby), or (b) made available
to Maker at the principal office of Maker for notation thereon of the portion thereof so prepaid. Upon payment in full of the amount
of the Unpaid Balance, this Note shall be surrendered to the Maker for cancellation.

 

7.                  
Definitions. For purposes of this Note, the following terms and phrases shall have the meaning
ascribed thereto:

 

(a)                
“Common Stock” shall have the meaning ascribed thereto in Maker’s Articles of Incorporation, as the same
shall have been or is amended from time to time.

 

(b)               
“Conversion” or “Converted” shall mean the payment and satisfaction of the Unpaid Balance or such
portion thereof as provided in this Note by Maker’s issuance to Payee of Conversion Shares in accordance with the terms hereof.

 

(c)                
“Conversion Date” shall mean any such date on which all or any portion of the Unpaid Balance shall be paid by
Maker at Payee’s election as provided in this Note by Maker’s issuance to Payee of Conversion Shares.

 

(d)               
“Conversion Exercise Date” shall mean the date on which the exercise by Payee of his right to cause the payment
of all or any portion of this Note in Conversion Shares is made effective; provided, however, that the exercise by Payee
of his Conversion right is delivered to Maker in writing.

 

    	 	Page 2

     

    

 

(e)                
 “Conversion Share(s)” shall mean that number of Shares of Common Stock to which Payee is entitled in payment,
whether in whole or in part, of the Unpaid Balance in accordance with the terms and conditions of this Note.

 

(f)                 
“Conversion Share Price” shall mean that amount as shall equal eighty percent (80%) of the Fair Market Value
of each Share of Maker’s Common Stock (as determined on an as converted and fully diluted basis) as such per Share value
and number of Shares of Common Stock are determined to exist as of the Conversion Exercise Date.

 

(g)               
“Fair Market Value” means, as of the Conversion Exercise Date, the fair market value of a Share of Maker’s
Common Stock determined as follows:

 

(i)                 
If the Shares are readily tradable on a Securities Market, by the closing price of a Share on the Conversion Exercise Date
as reported on the composite tape for securities traded on the Securities Market. If a closing price was not reported on that date,
then the arithmetic mean of the high and low prices at the close of the market on that date, and if these prices were not reported
on that date, then the closing price on the last trading day on which a closing price was reported; or

 

(ii)               
If Maker’s Board or Directors (the “Board”) in its reasonable discretion determines that the Shares are
not readily tradable on a Securities Market, by an independent written appraisal that satisfies the requirements of Internal Revenue
Code Section 401(a)(28)(C) as of the Conversion Exercise Date (the “Appraisal”).

 

(iii)             
Once the Conversion Share Price has been established, the Board shall not change the same through the retroactive use of
another valuation method.

 

(iv)             
Shares are treated as readily tradable on a Securities Market if they are regularly quoted by brokers or dealers making
a market in the Shares.

 

(h)               
“Government Body” means: (i) the government of any country, or the government of any political subdivision of
any country (a “Government”); (ii) any instrumentality of a Government; (iii) any other Person authorized by Law to
perform any administrative, executive, judicial, legislative, military, police, or regulatory functions of a Government; (iv) any
intergovernmental organization; and (v) any successor to the entities listed under Clauses (i) to (iv).

 

(i)                 
“Initial Public Offering” means the first underwritten offering or listing of Shares of Maker or any successor
to Maker when such Shares are offered pursuant to an effective registration statement under the Exchange Act.

 

(j)                 
“Law” means: (i) an administrative decision on which Persons other than those to whom the decision was issued
can rely; (ii) a judicial decision on which Persons other than those to whom the decision was issued can rely; (iii) an ordinance
or statute; (iv) a regulation or rule; or (v) any combination of the items under Clauses (i) to (iv).

 

(k)               
“Person” means a business trust, corporation, estate, general partnership, individual, limited liability company,
limited liability partnership, limited partnership, sole proprietor, trust, or other entity.

 

(l)                 
“Securities Market” means: (i) a national securities exchange that is registered under Section 6 of the Securities
Exchange Act of 1934, as amended; (ii) a foreign national securities exchange that is officially recognized, sanctioned, or supervised
by a Government Body; or (iii) any over-the-counter market that uses an interdealer quotation system. An interdealer quotation
system is any system of general circulation to brokers and dealers that regularly disseminates quotations of stocks and securities
by identified brokers or dealers, other than by quotation sheets that are prepared and distributed by a broker or dealer in the
regular course of business and that contain only quotations of that broker or dealer.

 

    	 	Page 3

     

    

 

(m)              
 “Share” means a share of Common Stock.

 

(n)               
“Significant Transaction” shall mean any one of the following:

 

(i)                 
Any transaction (or the first tranche of any series of integrated transactions) pursuant to which Maker sells, transfers,
leases, exchanges or disposes of all or substantially all of its assets for cash or property, or for a combination of cash and
property, or for other consideration; or

 

(ii)               
Any transaction, whether in a single or series of related steps, pursuant to which (1) any Person (or group of Persons)
acquires within a twelve (12) consecutive calendar month period by merger, consolidation, reorganization, division or other business
combination or transaction or by a purchase of an interest in Maker such that after any such transaction, the holders of ownership
interests of Maker immediately prior to such transaction no longer have a controlling interest in Maker (or any successor-in-interest
thereof); or (2) the shares of capital stock of Maker or any successor thereto are traded on a Securities Market, whether as a
result of an Initial Public Offering or via a reverse merger by Maker into a company the capital stock of which is traded on a
Securities Market;

 

(o)               
“Person” shall mean any individual, partnership, limited partnership, limited liability partnership, limited
liability company, corporation, trust, association, non-profit or charitable organization or other entity, or an unincorporated
organization, a governmental entity or any department or agency thereof.

 

(p)               
“Unpaid Balance” shall mean the amount of accrued and outstanding, but unpaid Principal and such amount of interest
as shall have accrued thereon as provided in Section 1 of this Note through and including any date fixed for payment, whether in
whole or in part, under this Note.

 

8.                  
No Fractional Shares. Instead of any fractional Conversion Shares that would otherwise be issuable
upon conversion of this Note, Maker shall pay a cash adjustment in respect of such fractional interest in an amount equal to the
product of (a) the applicable Conversion Share Price and (b) such fractional interest. The holder of fractional interests shall
not be entitled to any rights as security holders of Maker in respect of such fractional interests.

 

9.                  
No Impairment. Maker shall not, by amendment of its Articles of Incorporation or Bylaws, each as
amended to date, or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Note, but shall
at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary
or appropriate in order to protect the rights of Payee against dilution or other impairment.

 

10.               
Events of Default. The occurrence or existence of any one of the following events or conditions
shall constitute an “Event of Default”:

 

(a)                
Maker shall fail to pay the Principal of, or interest on, this Note when the same becomes due and payable in accordance
with the terms hereof and such amount remains unpaid for ten (10) business days after the due date thereof;

 

(b)               
Maker fails to observe or perform any other covenant or agreement on the part of Maker contained in this Note which failure
continues for a period of thirty (30) days (except in the case of its obligation under Section 3 of this Note, in which case the
period shall be three (3) days) after the date of written notice thereof from Payee; or

 

(c)                
Maker makes a general assignment for the benefit of its creditors or applies to any tribunal for the appointment of a trustee
or receiver of a substantial part of the assets of Maker, or commences any proceedings relating to Maker under any bankruptcy,
reorganization, arrangement, insolvency, readjustment of debts, dissolution or other liquidation law of any jurisdiction; or any
such application is filed, or any such proceedings are commenced against Maker and Maker indicates its consent to such proceedings,
or an order or decree is entered by a court of competent jurisdiction appointing such trustee or receiver, or adjudicating Maker
bankrupt or insolvent, or approving the petition in any such proceedings, and such order or decree remains unstayed and in effect
for ninety (90) days.

 

    	 	Page 4

     

    

 

11.               
 Remedies. If an Event of Default occurs and is continuing, Payee may, by notice in writing to
Maker, declare the entire Unpaid Balance of this Note to be due and payable immediately, and upon any such declaration, the entire
Unpaid Balance of this Note shall become and be immediately due and payable, and Payee may thereupon proceed to protect and enforce
its rights either by suit in equity or by action at law or by other appropriate proceedings, whether for specific performance (to
the extent permitted by law) of any covenant or agreement contained herein or in aid of the exercise of any power granted herein,
or proceed to enforce the payment of this Note or to enforce any other legal or equitable right of Payee. In the event this Note
is placed in the hands of an attorney for collection or for enforcement, or in the event that Payee incurs any costs incident to
the collection of any indebtedness evidenced hereby, Maker agrees to pay all reasonable attorneys’ fees and expenses, all
court and other costs and the reasonable costs of any other collection efforts. Forbearance to exercise the remedies set forth
herein with respect to any failure or breach of Maker shall not constitute a waiver by Payee of any of such remedies.

 

12.               
Expenses. Except as otherwise provided in this Note, each of Maker and Payee shall bear its own
costs incurred in connection with the negotiation, documentation and execution of this Note, the closing of the transactions contemplated
herein, and any amendment, waiver, consent, supplement or modification hereto.

 

13.               
Notices. All notices, requests, consents and other communications required or permitted under this
Note shall be in writing and shall be deemed to have been delivered three (3) days after the date mailed, postage prepaid, by certified
mail, return receipt requested, or on the date personally delivered:

 

	
        If to Maker, to:

         

        Inhibikase Therapeutics, Inc. Attn: Chief
        Executive Officer 3350 Riverwood Parkway Suite 1900, Atlanta, Georgia 30339

         
	
        If to Payee, to:

         

        Flagship Consulting Inc

        Frattaroli

        131 Daniel Webster Hwy 322

        Nashua, NH 03060

         

 

If to any Payee other than Payee, to such
address as may have been designated by notice given Maker by such Payee. Maker, Payee or any other Payee may designate a different
address by notice given in accordance with the foregoing.

 

14.               
Waiver and Amendment. Any provision of this Note may be amended, waived or modified upon the written
consent of Maker and Payee.

 

15.               
Assignment; Binding Effect. Payee shall neither be entitled to assign nor assign all or any portion
of its performance obligations under this Note and any attempted assignment hereof shall be void and of no effect. Subject to the
preceding sentences, this Note shall be binding upon and shall inure to the benefit of the parties hereto and their respective
heirs, executors, administrators, successors and assigns.

 

16.               
Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF GEORGIA WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS PRINCIPLES.

 

17.               
Venue. EACH OF THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS
PROPERTY, TO THE JURISDICTION OF THE COURTS OF THE STATE OF GEORGIA SITTING IN COBB COUNTY AND OF THE UNITED STATES DISTRICT COURT
OF THE DISTRICT OF GEORGIA, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO
THIS AGREEMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH STATE OR, TO THE EXTENT
PERMITTED BY LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING
SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.
MAKER AND HOLDER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY
OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING
TO THIS AGREEMENT IN ANY COURT REFERRED TO IN THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.
EACH PARTY TO THIS AGREEMENT IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 13 OF THIS
NOTE. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED
BY LAW.

 

    	 	Page 5

     

    

 

	 	Inhibikase
    Therapeutics, Inc.
	 	 	 
	 	By:	   /s/
    Milton Werner
	 	 	Milton Werner, Ph.D.,
    Authorized Officer

 

	ACCEPTED
    AND AGREED TO:	 
	 	 
	Flagship Consulting Inc	 
	 	 
	By: Joseph Frattaroli,
    CPA	 
	 	 
	/s/
    Joseph Frattaroli	 

 

    	 	Page 6

     

    

 

Exhibit A

Schedule

Of

Fees & Costs

 

	Date
    of Statement	Fees
    Accrued To Date	Payments
	04/01/2018	$12,500	 
	05/01/2018	$12,500	 
	06/01/2018	$12,500	 
	07/01/2018	$12,500	 
	08/01/2018	$12,500	 
	09/01/2018	$12,500	 

 

    	 	Page 7

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