Document:

Exhibit 10.1

 

 

MANAGEMENT SHARE
COMPENSATION PLAN

 

	1.	 	
        Establishment and Purpose. Corporación
        América Airports S.A. (the “Company”), hereby establishes a management share compensation plan to be named the
        “Management Share Compensation Plan” (the “Plan”).

         

        The purpose of the Plan is to permit executives
        and key employees (together the “Employees” and individually an “Employee”) of either the Company, or any
        of its subsidiaries or its Eligible Affiliates (as such term is defined under item 8(f) below) acting as employers (together the
        “Company Group”) who are eligible to receive an annual incentive compensation consisting either of (i) a certain number
        of shares in the share capital of the Company (the “Shares”) or of (ii) contractual rights (not documented by a certificate
        or otherwise) to receive, at a certain point in time, a certain number of Shares (the “Rights” and individually a “Right”),
        thereby encouraging the Employees to focus on the long term growth and profitability of the Company Group and, in particular, of
        the Company.

         

        Subject to approval by the Company’s
        board of directors (the “Board of Directors”) of its terms and conditions, the Plan provides for Shares to be allocated
        or Rights to be granted to Employees for a period beginning on August 20, 2020, and ending on December 31st, 2025, extendable
        thereafter upon approval from the Board of Directors in its sole discretion.

 

	2.	 	
        Administration. The Plan shall be
        organized and implemented by an ad hoc Organization and Compensation Committee of the Board of Directors composed of three
        members which are selected and appointed, from time to time, by the Board of Directors (the “Committee”). The Board
        of Directors may remove a member from the Committee at any time and without cause (ad nutum) with the affirmative vote of
        the majority of the members of the Board of Directors. The Committee shall allocate Shares or grant Rights (as the case may be)
        in accordance with the terms and conditions provided in the Plan. The Committee may adopt from time to time (and thereafter amend
        and rescind) such rules and regulations for carrying out the Plan and take such actions in the administration of the Plan, not
        inconsistent with its provisions, as it shall deem proper. The Committee may correct any defect, supply any omission or reconcile
        any inconsistency in the Plan, or in any Rights granted pursuant to the Plan, in the manner and to the extent it shall deem desirable
        to effect the terms of the Plan.

         

        With respect to any Right granted under
        the Plan, the Committee may determine when and if the Right shall be exercised, canceled or suspended, and allow for the allocation
        to the Employee of Shares whenever, in the judgement of the Committee, doing so would be in the best interest of the Company or
        decide, in its sole discretion, to settle the Right by way of cash instead of Shares. The interpretation and construction of any
        provisions of the Plan by the Committee shall, unless otherwise determined by the Board of Directors of the Company, be final and
        conclusive. No member of the Board of Directors or of the Committee shall be liable for any action or determination made in good
        faith with respect to the Plan or any Right granted under it. Unless the Committee decides to act itself as administrator of the
        Plan (the “Plan Administrator”), the Human Resources Head of the Company shall act as the Plan Administrator carrying
        out the day-to-day administration of the Plan until the Committee replaces him/her by appointing another officer or employee of
        the Company as Plan Administrator. In addition to the completion of the necessary actions and formalities as laid down under applicable
        laws and regulations as well as under the Company’s articles of association, as amended from time to time, the Plan Administrator
        may condition the allocation of Shares or granting of Rights, as applicable, to the Employee on the Employee ́s filing with
        the Company of a representation in such form as the Plan Administrator considers appropriate at the time of the allocation or granting
        (as the case may be).

 

     

     

    

 

 

 

	3.	 	Eligibility. The Committee will determine each year whether Shares will be issued and
    allocated or Rights will be granted to Employees during the course of such year, whether participation in the Plan will be
    elective or automatic. Factors taken into consideration include, but are not limited to, the Employee’s performance,
    contribution to business results and long term measurable success. The fact that an Employee has been eligible one year does
    not mean that she/he will be eligible the next year. The Committee will undergo on a yearly basis an individual review of
    each Employee.
	 	 	 
	 	 	As a general rule, the following criteria will apply to determine eligibility:

 

	 	Description  	Additional criteria
	Senior Executives	Senior members of the management team (executive level) with significant impact on the bottom line and/or future growth of the Company Group.  	Superior performance. Consistently delivers results over time.

                                                                                Ethical conduct.

                                                                                Adherence to and compliance with Company Policies.

	Key individuals	Senior members of the management team (managerial level) who are key contributors to the success of the Company Group.	Superior performance.

                                                                                Consistently delivers results over time.

                                                                                Ethical conduct.

                                                                                Adherence to and compliance with Company Policies.

 

	 	 	The Committee will determine, in its sole discretion, the maximum number of Shares that may be allocated or the maximum value of Rights
that may be granted to any Employee, as applicable.
	 	 	 
	4.	 	Shares
    subject to the Plan. The maximum number of Shares allocable under the Plan shall be 2% of the total outstanding shares
    of the Company at all times during the validity of the Plan. The Shares to be allocated may be (i) issued via the authorized
    but unissued share capital of the Company or (ii) transferred either (a) from Shares repurchased by the Company and held in
    the treasury (actions de trésorerie) or (b) Shares purchased directly on the open market or otherwise.

 

Approval
of the Plan by the Board of Directors of the Company shall constitute authorization to use such Shares for the Plan subject to
the entire discretion of the Board of Directors. Such discretion may be delegated to the Committee.

 

The
number of Shares that may be allocated in accordance with the Plan may be appropriately adjusted by the Committee, within the limits
previously approved by the Board of Directors.

 

As
from allocation and as long as the Employee is the registered owner of the Shares, she/he shall have the same rights and obligations
as any other shareholders of the Company.

 

	5.	 	Terms and Conditions of Shares. The Shares allocated under the Plan shall be subject
    to the following terms and conditions and to such additional terms and conditions, not inconsistent with the terms of the
    Plan, as the Committee shall deem desirable at its sole discretion; provided however, that changes entailing amendment(s)
    to the rights of an Employee (at least the ones not in his/her favor) to receive Shares need to be agreed by the latter. In
    case of a Payment in Shares (as defined under Item 6 below), the Employee will be required to have or open (as applicable)
    a custody account in a financial or brokerage institution, in order to conduct any transactions with regards to such Payment
    in Shares.

 

     

     

    

 

 

 

	 	a.	Consideration.
    Each Share shall be granted in lieu of the Employees’ payout or in lieu of other incentive compensation (being a portion
    of them or representing their entirety) as determined by the Committee in its sole discretion. The Committee shall determine
    the number of Shares or the manner of determining the number of Shares available to be allocated, subject to the total number
    of Shares available under the Plan for such year, and the amount or the method of determining the consideration to be given
    by each Employee, taking into consideration appropriate factors in making such determinations, such as interest rates, volatility
    of the market price of the Shares and the term of the restriction affecting the disposal of the Shares (if any).
	 	 	 
	 	b.	Exercise. A completed, dated and
    signed acceptance letter (the “Acceptance Letter”) in the form of the template attached as Annex I must
    be delivered by the Employee to the Plan Administrator in order to receive the Share(s) allocated to him/her.
	 	 	 
	 	c.	Change in Shares,
    Adjustments. In the event of any merger, reorganization, consolidation, recapitalization, stock dividend, spin-off, or other
    change in the corporate structure affecting the share capital of the Company, any adjustment shall be made in the aggregate
    number of Shares that may be allocated under the Plan, as may be determined to be appropriate by the Committee, in its sole
    discretion, provided that the number of Shares that may be allocated to Employees shall always be a whole number.

 

	6	 	Terms and Conditions of Rights. Certain Employees, as identified from time to time
    by the Committee, may receive Rights exercisable -at their respective dates of vesting- either by allocation of Shares in
    the Company (the “Payment in Shares”), or by payment in cash of an amount corresponding to their aggregate equivalent
    value determined at the applicable market price at the Right ́s granting date (the “Payment in Cash”) with
    the choice between the options or a combination of them to be made by the Committee acting in its sole discretion.
	 	 	 
	 	 	The Rights granted under the Plan shall be subject to the following terms and conditions and to such additional terms and conditions,
not inconsistent with the terms of the Plan, as the Committee shall deem desirable at its sole discretion: provided however, that, except
as otherwise agreed hereunder, changes adversely affecting the rights of an Employee (at least the ones not in his/her favor) to receive
Rights need to be consented to by such Employee.

 

	 	a.	Consideration. Each Right shall give the right to receive 1 (one) Share or its equivalent in cash, as defined above, and shall be granted
in lieu of the Employees’ payout or in lieu of other incentive compensation (being a portion of them or representing their entirety)
as determined by the Committee at its sole discretion. The Committee shall determine the number of Rights or the manner of determining
the number of Rights available to be granted, subject to the total number of Rights available under the Plan for such year, and the amount
or the method of determining the consideration to be given by each Employee,taking into consideration appropriate factors in making such determinations, such as interest rates, volatility of the market price of
the Shares issued in the share capital of the Company and the term of the restriction affecting the disposal of the Rights granted (if
any).

 

     

     

    

 

 

 

	 	b.	Vesting. Standard vesting period shall be 3 years. The Committee shall determine when the Rights shall become disposable in full. The
Committee shall further determine whether such Rights upon vesting and becoming exercisable shall be payable by the Company -at their
respective date of vesting- either by Payment in Shares or by Payment in Cash or a combination of them, as determined by the Committee
in its sole discretion.
	 	 	 
	 	c.	Manner of Exercise. A completed, dated and signed Acceptance Letter must be delivered by the Employee to the Plan Administrator in order
to receive the Rights or the Share(s) granted to him/her based on the exercise of his/her Rights.
	 	 	 
	 	d. 	Time for Exercise.

 

	 	A.	Termination of Employment.

 

	 	(i)	 Death, total disability (as determined by the public social security body the Employee is subject to), or normal retirement of Employee:
if the employment contract of the Employee with the Company or with a member of the Company Group (as applicable) is terminated by reason
of the employee’s death, total disability, or normal retirement, the Rights shall become disposable in full on the termination date.
	 	 	 
	 	(ii) 	Termination at the initiative of the Employee: if the employment contract of the Employee with the Company or with a member of the
Company Group (as applicable) is terminated at the initiative of the Employee before his/her Rights become exercisable/are exercised for
any reason, the Rights granted to him/her under the Plan shall be forfeited.
	 	 	 
	 	(iii) 	Termination at the initiative of the Company without Cause: if the employment contract of the Employee with the Company or with
a member of the Company Group (as applicable) is terminated at the initiative of the Company or by the member of the Company Group (as
applicable) without Cause before his/her Rights become exercisable/are exercised for any reason, the Rights shall become disposable in
full on the Employee’s termination date.
	 	 	 
	 	(iv)	 Termination at the initiative of the Company with Cause: if the employment contract of the Employee is terminated at the initiative
of the Company for Cause (including without limitation due to an Act of Misconduct, bad performance, violation of the Company’s
rules or the terms of the statutory documentation, etc.) before his/her Rights become exercisable/are exercised for any reason, the Rights
granted to him/her under the Plan shall be forfeited.

 

	 	B.	Delisting. In the event that the Shares are delisted from the New York Stock Exchange, then on and after the delisting date, the Company
reserves the right to (a) cancel any outstanding Rights, unless the Committee determines otherwise in its sole discretion, and (b) repurchase
any Shares previously allocated to any Employee, at the closing price of the Shares on the trading day immediately preceding the delisting
date, or otherwise at the price agreed by the Committee with such Employee.

 

     

     

    

 

 

 

	 	 	“Act of Misconduct” shall mean the occurrence of one or more of the following events: (x) the Grantee uses for profit or discloses
to unauthorized persons, confidential information or trade secrets of the Company or any of its Subsidiaries or Eligible Affiliates, (y)
the Grantee breaches any contract with or violates any fiduciary obligation to the Company or any of its Subsidiaries or Eligible Affiliates,
or (z) the Grantee engages in unlawful trading in the securities of the Company or any of its Subsidiaries or Eligible Affiliates or of
another company based on information gained as a result of that Grantee’s employment with, or status as a director to, the Company
or any of its Subsidiaries or Eligible Affiliates.
	 	 	 
	 	 	“Cause”
means any reason which entitle the employer to dismiss the employee forthwith under applicable labor laws.

 

	 	f.	The Employee who is granted Rights may not sell, transfer, assign, pledge, encumber or dispose of his/her Rights until such time as all
restrictions on such Rights have lapsed except to a trust of which the Employee, the Employee’s spouse/husband, or descendants (by
blood, adoption, or marriage) of the Employee are the primary beneficiaries. In any case the Employee shall notify the Company as soon
as practicable and in writing of such sale, transfer, assignment, pledge, encumbrance or disposal of Rights. Once transferred, assigned,
pledged, encumbered or disposed, the Rights shall be governed by the same terms and conditions (including any restriction thereof) as
those applicable to the Employee.
	 	 	 
	 	g.	The Committee shall have the discretion and authority to establish, in advance of the granting, any rules in connection with Rights, including
but not limited to regulating the timing of the lapse of restrictions within a six-month to ten-year period and prescribing exercise forms
as the Committee deems necessary or desirable for the orderly administration of such exercises.
	 	 	 
	 	h.	The allocation of Shares or grant of a Right (as applicable) under the Plan does not affect
    the terms and conditions of the employment or service provided. The Employer reserves the right to terminate the employment
    or service at any time, with or without cause, as permitted by applicable law. The allocation of Shares or grant of a Right
    (as applicable) does not entitle the Employee to any future allocation of Shares or grant of a Right (as applicable),
    compensation or severance pay.

 

	7.	 	Acceleration on a Change of Control.

 

	 	a.	With respect to any Right outstanding for at least one year,
the Committee will determine whether exercise shall be possible in full, as well as if the restrictions shall lapse, as the case
may be, upon a change in control of the Company.

 

	 	b.	For purposes of this Plan, a “change in control of
                                                         the Company” shall be deemed to have occurred whenever A.C.I. Airports S.à r.l. ceases to designate for
                                                         appointment by the general meeting of the Company’s shareholders the majority of the members of the Board of Directors
                                                         of the Company or to be the majority shareholder of
                                                         the Company, except as a consequence of an internal restructuring which results in a subsidiary or an affiliate company of
                                                         ACI Airports S.à r.l. holding the majority of the Shares; provided however, for the avoidance of doubt that no change
                                                         of control will occur in the event ACI Airports S.à r.l. continues to designate the majority of the members of the
                                                         Board of Directors of the Company.

 

     

     

    

 

 

 

	8.	 	Miscellaneous.

  

	 	a.	Amendment. The Company reserves the right to amend the Plan at any time by decision of the Board of Directors, in its sole discretion, considering that such amendment may not materially and adversely affect any outstanding Rights. Changes adversely affecting the rights of an Employee (at least the ones not in his/her favor) requires the consent from such Employee. Without the prior approval of the Board of Directors, no such amendment may increase the total number of Shares that can be allocated to Employees under the Plan. 
	 	 	 
	 	b.	Effectiveness of Plan. This Plan shall be effective as of August 20, 2020.
	 	 	 
	 	c.	Allocation
        of Shares.  All Shares issued under the Plan shall, unless covered under an effective U.S. Securities Act registration statement
        on Form S-8, be subject to such stock-transfer orders and other restrictions as the Committee may deem advisable under the rules,
        regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Shares are then
        listed, and any applicable federal or state securities laws, and the Committee may cause a legend or legends to be put on any certificates
        (if applicable) representing such Shares to make appropriate reference to such restrictions.
	 	 	 
	 	d.	Granting of Rights. All certificates (if
        applicable) for Shares delivered under the Plan shall be subject to such stock-transfer orders and other restrictions as the Committee
        may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange
        upon which the Shares are then listed, and any applicable federal or state securities law, and the Committee may cause a legend
        or legends to be put on any such certificates to make appropriate reference to such restrictions.
	 	 	 
	 	e.	Date of Grant. The grant of a Right
        shall be effective no earlier than the date when the Committee decides to grant said Right and at the time the relevant Acceptance
        Letter is dated and signed by the Employee. The allocation of Share(s) shall be effective no earlier than the date when the Committee
        decides to allocate said Share(s). The Employee shall provide instructions to the Company regarding the account or broker dealer
        to which the Shares shall be delivered as set forth under the Acceptance Letter.
	 	 	 
	 	f.	Eligible Affiliates shall mean the following Company’s
affiliates: Servicios de Ventas y Administración S.R.L., Servicios Integrales America S.A., Varogral S.A. and such other
companies to be determined from time to time by the Plan Administrator.

	 	 	 
	 	g.	The Company Group might be required
        to report awards given under the Plan to the local tax authorities. It is hereby agreed that the relevant entity in the Company
        Group is authorized to withhold from any compensation granted or payment due under the Plan the amount of withholding taxes due
        in respect of the relevant compensation or payment, and to take such other action as may be necessary to satisfy all obligations
        for the payment of such taxes. All personal taxes applicable to any award under the Plan are the sole liability of the Employee
        and the Group Company does not provide any tax advice.
	 	 	 
	 	h. 	This Plan shall not constitute
        or be construed as an employment contract or offer nor shall be part of the Employee ́s remuneration and salary.

 

     

     

    

 

 

 

It is hereby recommended to any and all Employee to consult an accountant or tax adviser regarding the individual tax implications under
the Plan.

 

     

     

    

 

Annex
I

 

ACCEPTANCE LETTER

 

THIS ACCEPTANCE LETTER
(the “Letter”) is made and entered into as of [date] (the “Date”) by and between:

 

		(A)	Corporacion America Airports S.A., a Luxembourg public limited liability
company existing under and governed by the laws of the Grand Duchy of Luxembourg, having its registered office at 4, rue de la
Grève, L-1643 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg trade and companies register under number
B174140 (the “Company”);

 

		(B)	[Name of the Employer], a [type of company/legal form]
existing under and governed by the laws of [country], having its registered office at [address], registered with
the [name of the register] under number [register number] (the “Employer”); and

 

		(C)	[Name of the Employee], [please insert details re. nationality,
date and place of birth, title/job and address] (the “Employee”),

 

collectively referred as
the “Parties”, each a “Party”.

 

WHEREAS,
the Company has established the “Management Share Compensation Plan” (the “Plan”) under which the Committee
(as defined in the Plan) either (i) allocates shares in the share capital of the Company (the “Shares”) or (ii) contractual
rights (not documented by a certificate or otherwise) to receive, at a certain point in time, a certain number of Shares (the “Rights”),
to executives and key employees of the Company or any of its subsidiaries and/or its Eligible Affiliate(s), subject to terms, conditions,
or restrictions as it may deem appropriate; and

 

WHEREAS,
the Employee states that he or she has received a copy of the Plan in force on the date hereof and acknowledges and accepts each
and all of it terms and conditions.

 

WHEREAS,
the Committee (as defined in the Plan) has awarded to the Employee a certain number of Shares and/or Rights as described herein
and in the Plan.

 

NOW
THEREFORE, in consideration of the mutual promises and covenants contained herein, the Parties hereby agreed as follows:

 

1. 
Capitalized terms and sections. The definition of any capitalized terms used but not defined in this Letter shall have the
meanings provided in the Plan. All section references are to sections of this Letter unless otherwise specified.

 

2. 
[Allocation/Grant] of [Shares/Rights]. Under the terms and conditions of the Plan, the Committee
decided to [allocate/grant] to the Employee a certain number of [Shares/Rights] as described in the
table below. Said [Shares/Rights] are [allocated/granted], effective and deemed to be held by the Employee
as of the Date of Grant and subject to the terms, conditions, and restrictions set forth in the Plan and in this Letter subject
to the delivery by the Employee to the Plan Administrator of an executed copy of this Letter.

 

3. 
 

[Table 1 to be used in
case of Shares – Table 2 to be used in case of Rights]

 

	Date	Number of Shares
	 	 
	 	 

 

     

     

    

 

	Date	Number of Rights	Earliest vesting date
	 	 	 
	 	 	 

 

4.     
Delivery of Shares. On or before the Date of Grant, the Employee shall inform the Company the account or broker dealer to
which the Shares shall be delivered

 

5.     
Entire Letter. This Letter together with the Plan contain the entire agreement between the Parties with respect to its subject
matter, and supersedes any and all documents, letters or understandings, whether written or oral, that may have been made between
the Parties prior to the present date.

 

6.  
Representations and warranties. The Employee represents and warrants that he or she is familiar with the terms and provisions
of the Plan, and hereby accepts the content of this Letter (including, for the avoidance of any doubt, the provisions governed
by the Plan or applicable to him/her as per the Plan) subject to all of the terms and provisions thereof. The Employee has reviewed
the Plan and this Letter in their entirety and fully understands all their provisions. The Employee agrees to accept as binding,
conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Plan or this Letter.

 

The Employee further represents
and warrants that:

 

		(i)	the Employee is of legal age and has all the required legal and mental capacity
in accordance with any law applicable to him or her to duly, legally and validly enter into, execute and perform this Letter;

 

		(ii)	he or she is not subject to any regime, whether matrimonial, civil, legal
or otherwise which may in any manner affect him or her to validly enter into, execute and perform the Letter or require any authorisation,
as the case may be, to implement it and he or she is not subject to a personal insolvency event, nor has he or she been convicted
as a result of any criminal action;

 

		(iii)	he or she has not been deprived, for whichever reason, of his civil rights
in accordance with any law applicable to him or her; and

 

		(iv)	the Employee has the requisite power and authority to enter into and to
perform this Letter.

 

7.  
Governing law and competent court. This Letter shall be governed by and constructed in accordance with the laws of the Grand
Duchy of Luxembourg. Any dispute arising from this Letter shall be submitted exclusively to the courts of the Grand Duchy of Luxembourg.

 

[signature page follows]

 

     

     

    

 

This Letter may be executed in as many counterparts as there are parties thereto, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. Each of the Parties waives to the extent required its rights under article
1325 of the Luxembourg civil code.

 

	The Employee	 
	 	 
	 	 
	by:	 
	 	 
	Countersigned by:	 
	 	 
	The Company	 
	 	 
	 	 
	by: 	 
	title:	 
	 	 
	Acknowledged by:	 
	 	 
	The Employer	 
	 	 
	 	 
	by: 	 
	title:EX-10.1

 Exhibit 10.1 

Forte Biosciences, Inc. 

Common Stock 
 (par value
$0.001 per share) 
 At Market Issuance Sales Agreement 

September 4, 2020 
 Ladenburg
Thalmann & Co. Inc. 
 277 Park Avenue, 26th Floor 

New York, NY 10172 
 Ladies and Gentlemen: 

Forte Biosciences, Inc., a Delaware corporation (the “Company”), confirms its agreement (this “Agreement”)
with Ladenburg Thalmann & Co. Inc. (the “Agent”) as follows: 
 1.    Issuance and Sale of
Shares. The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it may issue and sell through the Agent, shares (the “Placement Shares”) of the
Company’s common stock, par value $0.001 per share (the “Common Stock”), provided however, that in no event shall the Company issue or sell through the Agent such number of Placement Shares that (a) exceeds the
number of shares of Common Stock registered on the effective Registration Statement (as defined below) pursuant to which the offering is being made, or (b) exceeds the number of shares or dollar amount registered on the Prospectus (as defined
below), or (c) exceeds the number of authorized but unissued shares of Common Stock or (d) exceeds the number or dollar amount of shares of Common Stock permitted to be sold under Form S-3 (the
lesser of (a), (b), (c) and (d), the “Maximum Amount”). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section 1
on the number of Placement Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that the Agent shall have no obligation in connection with such compliance. The issuance and sale of Placement Shares through
the Agent will be effected pursuant to the Registration Statement (as defined below), although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue any Placement Shares. 

The Company has filed, in accordance with the provisions of the Securities Act of 1933, as amended, and the rules and regulations thereunder
(the “Securities Act”), with the Securities and Exchange Commission (the “Commission”), a registration statement on Form S-3 (the “Current Registration
Statement”), including a prospectus relating to the Placement Shares to be issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of
the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (the “Exchange Act”). The Company will prepare a prospectus supplement to the prospectus included as part of such registration statement
specifically relating to the Placement Shares (the “Prospectus  

 
Supplement”). The Company will furnish to the Agent, for use by the Agent, copies of the prospectus relating to the Placement Shares included as part of such registration statement,
as supplemented by the Prospectus Supplement. Except where the context otherwise requires, such registration statement, and any post-effective amendment thereto, including all documents filed as part thereof or incorporated by reference therein, and
including any information contained in a Prospectus (as defined below) subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act or deemed to be a part of such registration statement pursuant to Rule 430B of the
Securities Act or any subsequent registration statement on Form S-3 filed pursuant to Rule 415(a)(6) under the Securities Act by the Company to cover any securities registered pursuant the Current Registration
Statement, including any Placement Shares, as a result of the end of the three-year period described in Rule 415(a)(5) of the Securities Act, is herein called the “Registration Statement.” The prospectus specifically relating to the
Placement Shares, including all documents incorporated or deemed incorporated therein by reference to the extent such information has not been superseded or modified in accordance with Rule 412 under the Securities Act (as qualified by Rule 430B(g)
of the Securities Act), included in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the
Commission pursuant to Rule 424(b) under the Securities Act, is herein called the “Prospectus.” Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to
and include the documents incorporated or deemed incorporated by reference therein, and any reference herein to the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement or the Prospectus
shall be deemed to refer to and include the filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein (the “Incorporated Documents”). 

For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall
be deemed to include the most recent copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and Retrieval system, or if applicable, the Interactive Data Electronic Application system when used by the Commission
(collectively, “EDGAR”). 
 2.    Placements. Each time that the Company wishes to issue and
sell Placement Shares hereunder (each, a “Placement”), it will notify the Agent by email notice (or other method mutually agreed to in writing by the parties) of the number of Placement Shares, the time period during which sales are
requested to be made, any limitation on the number of Placement Shares that may be sold in any one day and any minimum price below which sales may not be made (a “Placement Notice”), the form of which is attached hereto as
Schedule 1. The receipt of each such Placement Notice shall be promptly acknowledged by the Agent by email confirmation to the Company. The Placement Notice shall originate from any of the individuals from the Company set forth on Schedule
2 (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from the Agent set forth on Schedule 2, as such Schedule 2 may be amended from time to
time. Provided that the Company is otherwise in compliance with the terms of this Agreement, the Placement Notice shall be effective immediately upon receipt by the Agent unless and until (i) the Agent declines to accept the terms contained
therein for any reason, in its sole discretion, (ii) the entire amount of the Placement Shares thereunder have been sold, (iii) the Company suspends or 

  
 2 

 
terminates the Placement Notice, or (iv) this Agreement has been terminated under the provisions of Section 13. The amount of any discount, commission or other
compensation to be paid by the Company to the Agent in connection with the sale of the Placement Shares shall be calculated in accordance with the terms set forth in Schedule 3. It is expressly acknowledged and agreed that neither the Company
nor the Agent will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to the Agent and the Agent does not decline such Placement Notice pursuant to the terms
set forth above, and then only upon the terms specified therein and herein. In the event of a conflict between the terms of Sections 2 or 3 of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will
control. 
 3.    Sale of Placement Shares by the Agent. 

a.    Subject to the terms and conditions of this Agreement, for the period specified in a Placement Notice, the Agent will
use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of The Nasdaq Stock Market LLC (the “Exchange”), to sell the
Placement Shares up to the amount specified in, and otherwise in accordance with the terms of, such Placement Notice. The Agent will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below)
immediately following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares sold on such day, the compensation payable by the Company to the Agent pursuant to
Section 2 with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by the Agent (as set forth in Section 5(b)) from the
gross proceeds that it receives from such sales. Subject to the terms of a Placement Notice, the Agent agrees that all sales of the Placement Shares by the Agent will be made only by methods permitted by law and deemed to be an “at the market
offering” as defined in Rule 415 of the Securities Act. Subject to the terms of a Placement Notice, the Agent may also sell Placement Shares by any other method permitted by law, including but not limited to privately negotiated transactions,
with the Company’s consent. “Trading Day” means any day on which Common Stock is purchased and sold on the Exchange. 

b.    For such time as the Agent is actively offering Placement Shares pursuant to this Agreement, the Agent shall not for
its own account engage in (i) any short sale of any security of the Company, (ii) any sale of any security of the Company that the Agent does not own for the account of the Agent or any sale which is consummated by the delivery of a
security of the Company borrowed by, or for the account of, the Agent, or (iii) any market making, bidding, purchasing, stabilization or other trading activity with regard to the Common Stock or related derivative securities, or attempting to
induce another person to do any of the foregoing, if such activity would be prohibited under Regulation M or other anti-manipulation rules under the Securities Act. Neither the Agent nor any of its affiliates or subsidiaries shall engage in any
proprietary trading or trading for the Agent’s (or its affiliates’ or subsidiaries’) own account. For the avoidance of doubt, this restriction shall not apply to transactions by or on behalf of any customer of the Agent or
transactions by the Agent to facilitate any such transactions by or on behalf of any customer of the Agent. 

  
 3 

 4.    Suspension of Sales. The Company or the Agent may, upon
notice to the other party in writing (including by email correspondence to each of the individuals of the other party set forth on Schedule 2, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the
notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on Schedule 2), suspend any sale of
Placement Shares (a “Suspension”); provided, however, that such Suspension shall not affect or impair any party’s obligations with respect to any Placement Shares sold hereunder prior to the receipt of such
notice. While a Suspension is in effect, any obligation under Sections 7(l), 7(m), and 7(n) with respect to the delivery of certificates, opinions, or comfort letters to the Agent, shall be waived. Each of the parties agrees
that no such notice under this Section 4 shall be effective against any other party unless it is made to one of the individuals named on Schedule 2 hereto and acknowledged in accordance with this
Section 4, as such Schedule may be amended from time to time. 
 5.    Sale and Delivery to
the Agent; Settlement. 
 a.    Sale of Placement Shares. On the basis of the representations and warranties
herein contained and subject to the terms and conditions herein set forth, upon the Agent’s acceptance of the terms of a Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise
terminated in accordance with the terms of this Agreement, the Agent, for the period specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and
federal laws, rules and regulations and the rules of the Exchange to sell such Placement Shares up to the amount specified in, and otherwise in accordance with the terms of, such Placement Notice. The Company acknowledges and agrees that
(i) there can be no assurance that the Agent will be successful in selling Placement Shares, (ii) the Agent will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any
reason other than a failure by the Agent to use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable law and regulations and the rules of the Exchange to sell such Placement Shares as required
under this Agreement and (iii) the Agent shall be under no obligation to purchase Placement Shares on a principal basis pursuant to this Agreement, except as otherwise agreed by the Agent and the Company. 

b.    Settlement of Placement Shares. Unless otherwise specified in the applicable Placement Notice, settlement for
sales of Placement Shares will occur on the second (2nd) Trading Day (or such earlier day as is industry practice for regular-way trading) following the
date on which such sales are made (each, a “Settlement Date”). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold (the “Net Proceeds”) will be
equal to the aggregate sales price received by the Agent, after deduction for (i) the Agent’s commission, discount or other compensation for such sales payable by the Company pursuant to Section 2 hereof, and
(ii) any transaction fees imposed by any governmental or self-regulatory organization in respect of such sales. 

  
 4 

 c.    Delivery of Placement Shares. On or before each Settlement
Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting the Agent’s or its designee’s account (provided that the Agent shall have given the Company written notice of
such designee at least one Trading Day prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System (“DWAC”) or by such other means of delivery as may be mutually agreed upon
by the parties hereto which in all cases shall be freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date, the Agent will deliver the related Net Proceeds in same day funds to an account designated by the
Company on, or prior to, the Settlement Date. The Agent will be responsible for providing DWAC instructions or instructions for delivery by other means with respect to the transfer of the Placement Shares being sold. The Company agrees that if the
Company, or its transfer agent (if applicable), defaults in its obligation to deliver Placement Shares on a Settlement Date through no fault of the Agent, then in addition to and in no way limiting the rights and obligations set forth in
Section 11(a) hereto, it will (i) hold the Agent harmless against any loss, claim, damage, or reasonable, documented expense (including reasonable and documented legal fees and expenses), as incurred, arising out of or
in connection with such default by the Company or its transfer agent (if applicable) and (ii) pay to the Agent (without duplication) any commission, discount, or other compensation to which it would otherwise have been entitled absent such
default. 
 d.    Limitations on Offering Size. Under no circumstances shall the Company cause or request the
offer or sale of any Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate number of Placement Shares sold pursuant to this Agreement would exceed the lesser of (A) together with all sales of Placement
Shares under this Agreement, the Maximum Amount, (B) the amount available for offer and sale under the currently effective Registration Statement and (C) the amount authorized from time to time to be issued and sold under this Agreement by
the Company’s board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Agent in writing. Under no circumstances shall the Company cause or request the offer or sale of any Placement
Shares pursuant to this Agreement at a price lower than the minimum price authorized from time to time by the Company’s board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Agent
in writing. Further, under no circumstances shall the Company cause or permit the aggregate offering amount of Placement Shares sold pursuant to this Agreement to exceed the Maximum Amount. 

e.    Sales Through Agent. The Company agrees that any offer to sell, any solicitation of an offer to buy, or any
sales of Common Stock or any other equity security of the Company shall only be effected by or through the Agent, and only the Agent, on any single given date; provided however that (i) the foregoing limitation shall not apply to
(A) exercise of any option, warrant, right or any conversion privilege set forth in the instruction governing such securities, (B) sales solely to employees, directors or security holders of the Company or its Subsidiaries, or to a trustee
or other person acquiring such securities for the accounts of such person and (ii) such limitation shall not apply (A) on any day during which no sales are made pursuant to this Agreement or (B) during a period in which the Company
has notified the Agent that it will not sell Common Stock under this Agreement and (1) no Placement Notice is pending or (2) after a Placement Notice has been withdrawn. 

  
 5 

 6.    Representations and Warranties of the Company.1 Except as disclosed in the Registration Statement or Prospectus (including the Incorporated Documents), the Company represents and warrants to, and agrees with the Agent that as of the date of this
Agreement and as of each Applicable Time (as defined below), unless such representation, warranty or agreement specifies a different date or time: 

a.    Registration Statement and Prospectus. The Company and, assuming no act or omission on the part of the Agent that
would make such statement untrue, the transactions contemplated by this Agreement meet the requirements for and comply with the conditions for the use of Form S-3 under the Securities Act. The Registration
Statement has been filed with the Commission and has been declared effective under the Securities Act. The Prospectus Supplement will name Ladenburg Thalmann & Co. Inc. as the Agent in the section entitled “Plan of Distribution.”
The Company has not received, and has no notice of, any order of the Commission preventing or suspending the use of the Registration Statement, or threatening or instituting proceedings for that purpose. The Registration Statement and the offer and
sale of Placement Shares as contemplated hereby meet the requirements of Rule 415 under the Securities Act and comply in all material respects with said Rule. Any statutes, regulations, contracts or other documents that are required to be described
in the Registration Statement or the Prospectus or to be filed as exhibits to the Registration Statement have been so described or filed. Copies of the Registration Statement, the Prospectus, and any such amendments or supplements and all documents
incorporated by reference therein that were filed with the Commission on or prior to the date of this Agreement have been delivered, or are available through EDGAR, to the Agent and its counsel. The Company has not distributed and, prior to the
later to occur of each Settlement Date and completion of the distribution of the Placement Shares, will not distribute, any offering material in connection with the offering or sale of the Placement Shares, other than the Registration Statement and
the Prospectus and any Issuer Free Writing Prospectus (as defined below) to which the Agent has consented, any such consent not to be unreasonably withheld, conditioned or delayed. The Common Stock is currently quoted on the Exchange. The Company
has not, in the 12 months preceding the date hereof, received notice from the Exchange to the effect that the Company is not in compliance with the listing or maintenance requirements of the Exchange. The Company has no reason to believe that it
will not in the foreseeable future continue to be in compliance with all such listing and maintenance requirements. 

b.    No Misstatement or Omission. At each Settlement Date, the Registration Statement and the Prospectus, as of
such date, will conform in all material respects with the requirements of the Securities Act. The Registration Statement, when it became or becomes effective, did not, and will not, contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus and any amendment and supplement thereto, on the date thereof and at each Applicable Time (defined below), did not or will not
include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The documents incorporated by reference in the
Prospectus or any Prospectus Supplement did not, and any further documents filed and incorporated by reference therein will not, when filed with the Commission, contain an 

 

	1 	 Note: reps and warrants remain subject to review by Mintz IP and regulatory specialists.

  
 6 

 
untrue statement of a material fact or omit to state a material fact required to be stated in such document or necessary to make the statements in such document, in light of the circumstances
under which they were made, not misleading. The foregoing shall not apply to statements in, or omissions from, any such document made in reliance upon, and in conformity with, the Agent’s Information. 

c.    Conformity with Securities Act and Exchange Act. The Registration Statement, the Prospectus, any Issuer Free
Writing Prospectus or any amendment or supplement thereto, and the Incorporated Documents, when such documents were or are filed with the Commission under the Securities Act or the Exchange Act or became or become effective under the Securities Act,
as the case may be, conformed or will conform in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable. 

d.    Financial Information. The consolidated financial statements of the Company included or incorporated by
reference in the Registration Statement and the Prospectus, together with the related notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company as of the dates indicated and the consolidated
results of operations, cash flows and changes in stockholders’ equity of the Company for the periods specified and have been prepared in compliance in all material respects with the requirements of the Securities Act and Exchange Act, as
applicable, as in effect as of the time of filing and in conformity with generally accepted accounting principles in the United States as in effect as of the time of filing (“GAAP”) applied on a consistent basis (except (i) for
such adjustments to accounting standards and practices as are noted therein and (ii) in the case of unaudited interim statements, to the extent they may exclude footnotes or may be condensed or summary statements) during the periods involved;
the other financial and statistical data with respect to the Company contained or incorporated by reference in the Registration Statement and the Prospectus, are accurately and fairly presented in all material respects and prepared on a basis
materially consistent with the financial statements and books and records of the Company; there are no financial statements (historical or pro forma) that are required to be included or incorporated by reference in the Registration Statement, or the
Prospectus that are not included or incorporated by reference as required; the Company does not have any material liabilities or obligations, direct or contingent (including any off balance sheet obligations), not described in the Registration
Statement (including the exhibits thereto and documents incorporated by reference thereto) and the Prospectus, which are required to be described in the Registration Statement or Prospectus (including the exhibits thereto and documents incorporated
by reference thereto); and all disclosures contained or incorporated by reference in the Registration Statement and the Prospectus, if any, regarding “non-GAAP financial measures” (as such term is
defined by the rules and regulations of the Commission) comply in all material respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent applicable.

 e.    Conformity with EDGAR Filing. The Prospectus delivered to the Agent for use in connection with the sale
of the Placement Shares pursuant to this Agreement will be identical to the versions of the Prospectus created to be transmitted to the Commission for filing via EDGAR, except to the extent permitted by Regulation
S-T. 

  
 7 

 f.    Organization. The Company is and will be, duly organized,
validly existing as a corporation and in good standing under the laws of its jurisdiction of organization. The Company is, and will be, duly licensed or qualified as a foreign corporation for transaction of business and in good standing under the
laws of each other jurisdiction in which its ownership or lease of property or the conduct of its business requires such license or qualification, and has all corporate power and authority necessary to own or hold its properties and to conduct its
businesses as described in the Registration Statement and the Prospectus (including the exhibits thereto and documents incorporated by reference thereto), except where the failure to be so qualified or in good standing or have such power or
authority would not, individually or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse effect on the assets, business, operations, earnings, properties, condition (financial or otherwise),
prospects, stockholders’ equity or results of operations of the Company taken as a whole, or prevent the consummation of the transactions contemplated hereby (a “Material Adverse Effect”). 

g.    Subsidiaries. The subsidiaries set forth on Schedule 4 hereto (each, a “Subsidiary”
and collectively, the “Subsidiaries”) are the Company’s only significant subsidiaries (as such term is defined in Rule 1-02 of Regulation S-X
promulgated by the Commission). Each Subsidiary is duly organized and validly existing as a corporation or other entity under the laws of its respective jurisdictions of organization and is in good standing under such laws. Each of the Subsidiaries
has requisite corporate or other organizational power to carry on its business as described in the Prospectus. Each of the Subsidiaries is duly qualified to transact business and is in good standing in all jurisdictions in which the conduct of its
business requires such qualification; except where the failure to be so qualified or to be in good standing would not result in a Material Adverse Effect. 

h.    No Violation or Default. Neither the Company nor any of its Subsidiaries are (i) in violation of its
charter or by-laws or similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance or
observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company is a party or by which the Company is bound or to which any of the property or
assets of the Company is subject; or (iii) in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority having jurisdiction over the Company, except, in the
case of each of clauses (ii) and (iii) above, for any such violation or default that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To the Company’s knowledge, no other party under
any material contract or other agreement to which it or any of its Subsidiaries is a party is in default in any respect thereunder where such default would reasonably be expected to have a Material Adverse Effect. 

i.    No Material Adverse Effect. Since the date of the most recent financial statements of the Company included or
incorporated by reference in the Registration Statement and Prospectus, other than the transactions contemplated by the Agreement and Plan of Merger and Reorganization by and among Forte Biosciences, Inc., Forte Subsidiary, Inc., Tocagen Inc. and
Telluride Merger Sub, Inc., dated February 19, 2020, as amended, there has not been (i) any Material Adverse Effect, or any development involving a prospective Material Adverse Effect, in 

  
 8 

 
or affecting the business, properties, management, condition (financial or otherwise), results of operations, or prospects of the Company or its Subsidiaries, (ii) other than the
transactions contemplated by this Agreement, any transaction which is material to the Company or its Subsidiaries, (iii) any obligation or liability, direct or contingent (including any off-balance sheet
obligations), incurred by the Company or its Subsidiaries, which is material to the Company or its Subsidiaries, (iv) any material change in the capital stock (other than (A) the grant of additional options or other equity awards under the
Company’s existing stock option plans, (B) changes in the number of outstanding Common Stock of the Company due to the issuance of shares upon the exercise or conversion of securities exercisable for, or convertible into, Common Stock
outstanding on the date hereof, (C) as a result of the issuance of Placement Shares, (D) any repurchases of capital stock of the Company, (E) as described in a proxy statement filed on Schedule 14A or a Registration Statement on Form S-4, or (F) otherwise publicly announced) or outstanding long-term indebtedness of the Company or (v) any dividend or distribution of any kind declared, paid or made on the capital stock of the Company,
other than in each case above (A) in the ordinary course of business or, (B) as otherwise disclosed in the Registration Statement or Prospectus (including any document incorporated by reference therein). 

j.    Capitalization. The issued and outstanding shares of capital stock of the Company have been validly issued,
are fully paid and non-assessable and, other than as disclosed in the Registration Statement or the Prospectus, are not subject to any preemptive rights, rights of first refusal or similar rights. The Company
has an authorized, issued and outstanding capitalization as set forth in the Registration Statement and the Prospectus as of the dates referred to therein (other than (i) the grant of additional options or other equity awards under the
Company’s existing stock option plans, (ii) changes in the number of outstanding shares of Common Stock of the Company due to the issuance of shares upon the exercise or conversion of securities exercisable for, or convertible into, Common
Stock outstanding on the date hereof, (iii) as a result of the issuance of Placement Shares, or (iv) any repurchases of capital stock of the Company), and such authorized capital stock conforms in all material respects to the description
thereof set forth in the Registration Statement and the Prospectus. The description of the Common Stock in the Registration Statement and the Prospectus is complete and accurate in all material respects. 

k.    S-3 Eligibility. (i) At the time of filing the Registration
Statement and (ii) at the time of the most recent amendment thereto for the purposes of complying with Section 10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to
Section 13 or 15(d) of the Exchange Act or form of prospectus), the Company met the then applicable requirements for use of Form S-3 under the Securities Act. 

l.    Authorization; Enforceability. The Company has full legal right, power and authority to enter into this
Agreement and perform the transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by the Company and is a legal, valid and binding agreement of the Company enforceable against the Company in accordance with
its terms, except to the extent that (i) enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by general equitable principles and (ii) the
indemnification and contribution provisions of Section 11 hereof may be limited by federal or state securities laws and public policy considerations in respect thereof. 

  
 9 

 m.    Authorization of Placement Shares. The Placement Shares,
when issued and delivered pursuant to the terms approved by the board of directors of the Company or a duly authorized committee thereof, or a duly authorized executive committee, against payment therefor as provided herein, will be duly and validly
authorized and issued and fully paid and nonassessable, free and clear of any pledge, lien, encumbrance, security interest or other claim (other than any pledge, lien, encumbrance, security interest or other claim arising from an act or omission of
the Agent or a purchaser), including any statutory or contractual preemptive rights, resale rights, rights of first refusal or other similar rights, and will be registered pursuant to Section 12 of the Exchange Act. The Placement Shares, when
issued, will conform in all material respects to the description thereof set forth in or incorporated into the Prospectus. 

n.    No Consents Required. No consent, approval, authorization, order, registration or qualification of or with
any court or arbitrator or any governmental or regulatory authority having jurisdiction over the Company is required for the execution, delivery and performance by the Company of this Agreement, and the issuance and sale by the Company of the
Placement Shares as contemplated hereby, except for the registration of the Placement Shares under the Securities Act and pursuant to the Registration Statement which has been completed that, and such consents, approvals, authorizations, orders and
registrations or qualifications as may be required under applicable state securities laws or by the by-laws and rules of the Financial Industry Regulatory Authority (“FINRA”) or the Exchange,
including any notices that may be required by Exchange, in connection with the sale of the Placement Shares by the Agent. 

o.    No Preferential Rights. (i) No person, as such term is defined in
Rule 1-02 of Regulation S-X promulgated under the Securities Act (each, a “Person”), has the right, contractual or otherwise, to cause the Company
to issue or sell to such Person any Common Stock or shares of any other capital stock or other securities of the Company (other than upon the exercise of options or warrants to purchase Common Stock or upon the exercise of options that may be
granted from time to time under the Company’s stock option plans), (ii) no Person has any preemptive rights, rights of first refusal, or any other rights (whether pursuant to a “poison pill” provision or otherwise) to purchase any
Common Stock or shares of any other capital stock or other securities of the Company from the Company which have not been duly waived with respect to the offering contemplated hereby, (iii) no Person has the right to act as an underwriter or as
a financial advisor to the Company in connection with the offer and sale of the Common Stock, and (iv) no Person has the right, contractual or otherwise, to require the Company to register under the Securities Act any Common Stock or shares of
any other capital stock or other securities of the Company, or to include any such shares or other securities in the Registration Statement or the offering contemplated thereby, whether as a result of the filing or effectiveness of the Registration
Statement or the sale of the Placement Shares as contemplated thereby or otherwise, except in each case for such rights as have been waived on or prior to the date hereof. 

p.    Independent Public Accountant. The Company’s accountants whose report on the consolidated financial
statements of the Company is filed with or incorporated into the Commission as part of the Company’s most recent Annual Report on Form 10-K filed with the Commission and incorporated into the Registration
Statement, are and, during the periods 

  
 10 

 
covered by their report, were independent public accountants within the meaning of the Securities Act and the Public Company Accounting Oversight Board (United States). To the Company’s
knowledge, following due inquiry, the Company’s accountants are not in violation of the auditor independence requirements of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”) with respect to the Company. 

q.    Enforceability of Agreements. All agreements between the Company and third parties expressly referenced in
the Prospectus, other than such agreements that have expired by their terms or whose termination is disclosed in documents filed by the Company on EDGAR, are legal, valid and binding obligations of the Company enforceable in accordance with their
respective terms, against the Company and, to the Company’s knowledge, the other parties thereto, except to the extent that (i) enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
creditors’ rights generally and by general equitable principles and (ii) the indemnification provisions of certain agreements may be limited by federal or state securities laws or public policy considerations in respect thereof, and except
for any unenforceability that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 

r.    No Litigation. There are no legal, governmental or regulatory actions, suits or proceedings pending, nor, to
the Company’s knowledge, any legal, governmental or regulatory investigations, to which the Company or its Subsidiaries is a party or to which any property of the Company or its Subsidiaries is the subject that, individually or in the
aggregate, if determined adversely to the Company or its Subsidiaries, would reasonably be expected to have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement; to
the Company’s knowledge, no such actions, suits or proceedings are threatened or contemplated by any governmental or regulatory authority or threatened by others that, individually or in the aggregate, if determined adversely to the Company,
would reasonably be expected to have a Material Adverse Effect; and (i) there are no current or pending legal, governmental or regulatory actions, suits or proceedings, or, to the Company’s knowledge, investigations, that are required
under the Securities Act to be described in the Prospectus that are not described in the Prospectus including any Incorporated Document; and (ii) there are no contracts or other documents that are required under the Securities Act to be filed
as exhibits to the Registration Statement that are not so filed. 
 s.    Licenses and Permits. The Company and
its Subsidiaries possess and have obtained all licenses, certificates, consents, orders, approvals, permits and other authorizations issued by, and have made all declarations and filings with, the appropriate federal, state, local or foreign
governmental or regulatory authorities that are necessary for the ownership or lease of their respective properties or the conduct of their respective businesses as described in the Registration Statement and the Prospectus (the
“Permits”), except where the failure to possess, obtain or make the same would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company and its Subsidiaries have not received
written notice of any proceeding relating to revocation or modification of any such Permit or has any reason to believe that such Permit will not be renewed in the ordinary course, except where the failure to obtain any such renewal would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
 11 

 t.    No Material Defaults. The Company and its Subsidiaries have
not defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. The Company has
not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the filing of its last Annual Report on Form 10-K, indicating that it (i) has failed to pay any dividend or sinking
fund installment on preferred stock or (ii) has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would reasonably be expected to
have a Material Adverse Effect. 
 u.    Certain Market Activities. Neither the Company, nor any of its
directors, officers or controlling persons has taken, directly or indirectly, any action designed, or that has constituted or would reasonably be expected to cause or result in, under the Exchange Act or otherwise, the stabilization or manipulation
of the price of any security of the Company to facilitate the sale or resale of the Placement Shares. 

v.    Broker/Dealer Relationships. Neither the Company nor its Subsidiaries nor any related entities (i) are
required to register as a “broker” or “dealer” in accordance with the provisions of the Exchange Act or (ii) directly or indirectly through one or more intermediaries, controls or is a “person associated with a
member” or “associated person of a member” (within the meaning set forth in the FINRA Manual). 

w.    Reliance. The Company has not relied upon the Agent or legal counsel for the Agent for any legal, tax or
accounting advice in connection with the offering and sale of the Placement Shares. 
 x.    Taxes. The Company
and its Subsidiaries have filed all federal, state, local and foreign tax returns which have been required to be filed and paid all taxes shown thereon through the date hereof, to the extent that such taxes have become due and are not being
contested in good faith, except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. Except as otherwise disclosed in or contemplated by the Registration Statement or the Prospectus, no tax deficiency has
been determined adversely to the Company or its Subsidiaries which has had, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. The Company has no knowledge of any federal, state or other
governmental tax deficiency, penalty or assessment which has been asserted or threatened against it which would have a Material Adverse Effect. 

y.    Title to Real and Personal Property. The Company and its Subsidiaries have good and valid title in fee simple
to all items of real property and good and valid title to all personal property described in the Registration Statement or Prospectus as being owned by them that are material to the businesses of the Company and its Subsidiaries, in each case, free
and clear of all liens, encumbrances and claims, except those that would reasonably be expected to not, individually or in the aggregate, have a Material Adverse Effect. Any real property described in the Registration Statement or Prospectus as
being leased by the Company or its Subsidiaries is held by them under valid, existing and enforceable leases, except those that would not be reasonably be expected, individually or in the aggregate, have a Material Adverse Effect. 

  
 12 

 z.    Intellectual Property. To the Company’s knowledge, the
Company and its Subsidiaries own or possess adequate enforceable rights to use all patents, patent applications, trademarks (both registered and unregistered), service marks, trade names, trademark registrations, service mark registrations,
copyrights, licenses and know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures) (collectively, the “Intellectual
Property”), necessary for the conduct of their respective businesses as conducted as of the date hereof; the Company and its Subsidiaries have not received any written notice of any claim of infringement or conflict which asserted
Intellectual Property rights of others, which infringement or conflict, if the subject of an unfavorable decision, would result in a Material Adverse Effect; there are no pending, or to the Company’s knowledge, threatened judicial proceedings
or interference proceedings against the Company or its Subsidiaries challenging the Company’s rights in or to or the validity of the scope of any of the Company’s patents, patent applications or proprietary information; to the
Company’s knowledge, no other entity or individual has any right or claim in any of the Company’s or its Subsidiaries’ patents, patent applications or any patent to be issued therefrom by virtue of any contract, license or other
agreement entered into between such entity or individual and the Company or by any non-contractual obligation, other than by written licenses granted by the Company, except for such right or claim that would
not reasonably be expected to, individually or in the aggregate, have a Material Adverse Effect; the Company and its Subsidiaries have not received any written notice of any claim challenging the rights of the Company in or to any Intellectual
Property owned, licensed or optioned by the Company or its Subsidiaries which claim, if the subject of an unfavorable decision would result in a Material Adverse Effect. 

aa.    Environmental Laws. The Company (i) is in compliance with any and all applicable federal, state, local
and foreign laws, rules, regulations, decisions and orders relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental
Laws”); (ii) has received and is in compliance with all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses as described in the Registration Statement and the
Prospectus; and (iii) has not received notice of any actual or potential liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except, in the case of
any of clauses (i), (ii) or (iii) above, for any such failure to comply or failure to receive required permits, licenses, other approvals or liability as would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. 
 bb.    Disclosure Controls. The Company maintains systems of internal accounting controls
designed to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements
in conformity with GAAP and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with
the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company is not aware of any material weaknesses in its internal control over financial reporting (other than as set forth in the
Registration Statement or the Prospectus). Since the date of the latest audited financial statements of the Company included in 

  
 13 

 
the Prospectus, there has been no change in the Company’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the
Company’s internal control over financial reporting (other than as set forth in the Registration Statement or the Prospectus). The Company has established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15 and 15d-15) for the Company and designed such disclosure controls and procedures to ensure that material information relating to the Company is made known to the
certifying officers by others within those entities, particularly during the period in which the Company’s Annual Report on Form 10-K or Quarterly Report on Form
10- Q, as the case may be, is being prepared.    The Company presented in its Form 10-K for the fiscal year most recently ended the conclusions of
the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the most recent Evaluation Date. Since the filing date of the Form 10-K for the fiscal
year most recently ended (such date, the “Evaluation Date”), there have been no significant changes in the Company’s internal controls (as such term is defined in Item 307(b) of Regulation
S-K under the Securities Act) or, to the Company’s knowledge, in other factors that could significantly affect the Company’s internal controls. To the knowledge of the Company, the Company’s
“internal controls over financial reporting” and “disclosure controls and procedures” are effective. 

cc.    Sarbanes-Oxley Act. There is and has been no failure on the part of the Company or, to the knowledge of the
Company, any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder. Each of the
principal executive officer and the principal financial officer of the Company (or each former principal executive officer of the Company and each former principal financial officer of the Company as applicable) has made all certifications required
by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules, forms, statements and other documents required to be filed by it or furnished by it to the Commission during the past 12 months. For purposes of the preceding
sentence, “principal executive officer” and “principal financial officer” shall have the meanings given to such terms in the Exchange Act Rules 13a-15 and
15d-15. 
 dd.    Finder’s Fees. The Company has not incurred any
liability for any finder’s fees, brokerage commissions or similar payments in connection with the transactions herein contemplated, except as may otherwise exist with respect to the Agent pursuant to this Agreement. 

ee.    Labor Disputes. No labor disturbance by or dispute with employees of the Company or its Subsidiaries exists
or, to the knowledge of the Company, is threatened which would reasonably be expected to result in a Material Adverse Effect. 

ff.    Investment Company Act. Neither the Company or its Subsidiaries is or, after giving effect to the offering
and sale of the Placement Shares, will be, an “investment company” or an entity “controlled” by an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended (the
“Investment Company Act”). 
 gg.    Operations. The operations of the Company and its
Subsidiaries are and have been conducted at all times in compliance in all material respects with applicable financial record keeping and reporting requirements of the Currency and Foreign Transactions Reporting

  
 14 

 
Act of 1970, as amended, the money laundering statutes of all jurisdictions to which the Company and its Subsidiaries are subject, the rules and regulations thereunder and any related or similar
rules, regulations or guidelines, issued, administered or enforced by any governmental agency having jurisdiction over the Company and its Subsidiaries (collectively, the “Money Laundering Laws”), except as would not reasonably be
expected to result in a Material Adverse Effect; and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or its Subsidiaries with respect to the Money Laundering Laws
is pending or, to the knowledge of the Company, threatened. 

hh.    Off-Balance Sheet Arrangements. There are no transactions,
arrangements and other relationships between and/or among the Company, and/or, to the knowledge of the Company, any of its affiliates and any unconsolidated entity, including, but not limited to, any structured finance, special purpose or limited
purpose entity (each, an “Off Balance Sheet Transaction”) that would reasonably be expected to affect materially the Company’s liquidity or the availability of or requirements for its capital resources, including those Off
Balance Sheet Transactions described in the Commission’s Statement about Management’s Discussion and Analysis of Financial Conditions and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), required to be described in the Registration Statement or the Prospectus which have not been described as required. 

ii.    Underwriter Agreements. The Company is not a party to any agreement with an agent or underwriter for any
other “at the market” or continuous equity transaction. 
 jj.    ERISA. To the knowledge of the
Company, each material employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), that is maintained, administered or contributed to by the Company or
any of its affiliates for employees or former employees of the Company has been maintained in material compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and
the Internal Revenue Code of 1986, as amended (the “Code”); no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred which would result in a material liability to the
Company with respect to any such plan excluding transactions effected pursuant to a statutory or administrative exemption; and for each such plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, no
“accumulated funding deficiency” as defined in Section 412 of the Code has been incurred, whether or not waived, and the fair market value of the assets of each such plan (excluding for these purposes accrued but unpaid contributions)
exceeds the present value of all benefits accrued under such plan determined using reasonable actuarial assumptions, other than, in the case of (i), (ii) and (iii) above, as would not reasonably be expected to have a Material Adverse Effect.

 kk.    Forward-Looking Statements. No forward-looking statement (within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act) (a “Forward-Looking Statement”) contained in the Registration Statement and the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other
than in good faith. The Forward-Looking Statements incorporated by reference in the Registration Statement and the Prospectus from the Company’s Annual Report on Form 10-K for the fiscal year most
recently ended (i) except for any Forward-Looking Statement included in any financial 

  
 15 

 
statements and notes thereto, are, to the Company’s knowledge, within the coverage of the safe harbor for forward looking statements set forth in Section 27A of the Securities Act, Rule
175(b) under the Securities Act or Rule 3b-6 under the Exchange Act, as applicable, (ii) were made by the Company with a reasonable basis and in good faith and reflect the Company’s good faith
commercially reasonable best estimate of the matters described therein as of the respective dates on which such statements were made, and (iii) have been prepared in accordance with Item 10 of Regulation
S-K under the Securities Act. 
 ll.    Margin Rules. Neither the
issuance, sale and delivery of the Placement Shares nor the application of the proceeds thereof by the Company as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal
Reserve System. 
 mm.    Insurance. The Company and its Subsidiaries carry, or are covered by, insurance in such
amounts and covering such risks as the Company and its Subsidiaries, as applicable, reasonably believes are adequate for the conduct of their business and as is customary for companies of similar size engaged in similar businesses in similar
industries. 
 nn.    No Improper Practices. (i) Neither the Company nor to the Company’s knowledge,
any of their respective executive officers has, in the past five years, made any unlawful contributions to any candidate for any political office (or failed fully to disclose any contribution in violation of law) or made any contribution or other
payment to any official of, or candidate for, any federal, state, municipal, or foreign office or other person charged with similar public or quasi-public duty in violation of any law or of the character required to be disclosed in the Prospectus;
(ii) no relationship, direct or indirect, exists between or among the Company or, to the Company’s knowledge, or any affiliate of any of the Company, on the one hand, and the directors, officers and stockholders of the Company or, on the
other hand, that is required by the Securities Act to be described in the Registration Statement and the Prospectus that is not so described; (iii) no relationship, direct or indirect, exists between or among the Company or any affiliate of
them, on the one hand, and the directors, officers, stockholders or directors of the Company or, on the other hand, that is required by the rules of FINRA to be described in the Registration Statement and the Prospectus that is not so described;
(iv) there are no material outstanding loans or advances or material guarantees of indebtedness by the Company to or for the benefit of any of its officers or directors or any of the members of the families of any of them; and (v) the
Company has not offered, or caused any placement agent to offer, Common Stock to any person with the intent to influence unlawfully (A) a customer or supplier of the Company to alter the customer’s or supplier’s level or type of
business with the Company or (B) a trade journalist or publication to write or publish favorable information about the Company or any of its products or services, and, (vi) neither the Company nor, to the Company’s knowledge, any
employee or agent of the Company has made any payment of funds of the Company or received or retained any funds in violation of any law, rule or regulation (including, without limitation, the Foreign Corrupt Practices Act of 1977), which payment,
receipt or retention of funds is of a character required to be disclosed in the Registration Statement or the Prospectus. 

oo.    Status Under the Securities Act. The Company was not and is not an ineligible issuer as defined in Rule 405
at the times specified in Rules 164 and 433 under the Securities Act in connection with the offering of the Placement Shares. 

  
 16 

 pp.    No Misstatement or Omission in an Issuer Free Writing
Prospectus. Each Issuer Free Writing Prospectus, as of its issue date and as of each Applicable Time (as defined in Section 25 below), did not, does not and will not include any information that conflicted, conflicts or
will conflict with the information contained in the Registration Statement or the Prospectus, including any incorporated document deemed to be a part thereof that has not been superseded or modified. The foregoing sentence does not apply to
statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity with written information furnished to the Company by the Agent specifically for use therein. 

qq.    No Conflicts. Neither the execution of this Agreement, nor the issuance, offering or sale of the Placement
Shares, nor the consummation of any of the transactions contemplated herein and therein, nor the compliance by the Company with the terms and provisions hereof and thereof will conflict with, or will result in a breach of, any of the terms and
provisions of, or has constituted or will constitute a default under, or has resulted in or will result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to the terms of any contract
or other agreement to which the Company is a party to or to which any of the property or assets of the Company is subject, except such conflicts, breaches, defaults, liens, charges or encumbrances as may have been waived; nor will such action result
(x) in any violation of the provisions of the organizational or governing documents of the Company, or (y) in any material violation of the provisions of any statute or any order, rule or regulation applicable to the Company or of any
court or of any federal, state or other regulatory authority or other government body having jurisdiction over the Company, except where such violation would not reasonably be expected to have a Material Adverse Effect. 

rr.    Compliance with Applicable Laws. The Company and its Subsidiaries: (A) are and at all times have been
in material compliance with all statutes, rules and regulations applicable to the ownership, testing, development, manufacture, packaging, processing, use, distribution, marketing, labeling, promotion, sale, offer for sale, storage, import, export
or disposal of any product under development, manufactured or distributed by the Company (“Applicable Laws”), except for such non-compliance as would not reasonably be expected to,
individually or in the aggregate, have a Material Adverse Effect, (B) have not received any Form 483 from the Food and Drug Administration of the U.S. Department of Health and Human Services (the “FDA”), notice of adverse finding,
warning letter, or other written correspondence or notice from the FDA, the European Medicines Agency (the “EMA”), or any other federal, state, local or foreign governmental or regulatory authority alleging or asserting material
noncompliance with any Applicable Laws or any licenses, certificates, consents, approvals, clearances, authorizations, permits, orders and supplements or amendments thereto required by any such Applicable Laws (“Authorizations”),
which would, individually or in the aggregate, result in a Material Adverse Effect; (C) possess all material Authorizations and such Authorizations are valid and in full force and effect and are not in material violation of any term of any such
Authorizations; (D) have not received written notice of any claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other action from the FDA, the EMA, or any other federal, state, local or foreign governmental or
regulatory authority or third party alleging that any Company product, operation or activity is in material violation of any Applicable Laws or Authorizations and has no knowledge that the FDA, the EMA, or any other federal, state, local or foreign
governmental or regulatory authority or third party is considering 

  
 17 

 
any such claim, litigation, arbitration, action, suit, investigation or proceeding against the Company or its Subsidiaries, except as would not reasonably be expected to, individually or in the
aggregate, have a Material Adverse Effect; (E) have not received notice that the FDA, EMA, or any other federal, state, local or foreign governmental or regulatory authority has taken, is taking or intends to take action to limit, suspend,
modify or revoke any material Authorizations and has no knowledge that the FDA, EMA, or any other federal, state, local or foreign governmental or regulatory authority is considering such action, except as would not reasonably be expected to,
individually or in the aggregate, have a Material Adverse Effect; and (F) have filed, obtained, maintained or submitted all reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments as required
by any Applicable Laws or Authorizations except where the failure to file such reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments would not result in a Material Adverse Effect, and that all
such reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were materially complete and correct on the date filed (or were corrected or supplemented by a subsequent submission). 

ss.    Clinical Studies. All animal and other preclinical studies and clinical trials conducted by the Company or
on behalf of the Company were, and, if still pending are, to the Company’s knowledge, being conducted in all material respects in compliance with all Applicable Laws and in accordance with experimental protocols, procedures and controls
generally used by qualified experts in the preclinical study and clinical trials of new drugs and biologics as applied to comparable products to those being developed by the Company, except in each case where failure to comply would not reasonably
be expected to have a Material Adverse Effect; the descriptions of the results of such preclinical studies and clinical trials contained in the Registration Statement and the Prospectus are accurate in all material respects, and, except as set forth
in the Registration Statement and the Prospectus, the Company has no knowledge of any other clinical trials or preclinical studies, the results of which reasonably call into question the clinical trial or preclinical study results described or
referred to in the Registration Statement and the Prospectus when viewed in the context in which such results are described; and the Company has not received any written notices or correspondence from the FDA, the EMA, or any other domestic or
foreign governmental agency requiring the termination or suspension of any preclinical studies or clinical trials conducted by or on behalf of the Company that are described in the Registration Statement and the Prospectus or the results of which
are referred to in the Registration Statement and the Prospectus. 
 tt.    Compliance Program. The Company and
its Subsidiaries have taken such steps as are reasonable and appropriate to comply in all material respects with applicable regulatory guidelines (including, without limitation, those administered by the FDA, the EMA, and any other foreign, federal,
state or local governmental or regulatory authority having jurisdiction over the Company and its Subsidiaries and performing functions similar to those performed by the FDA or EMA); except where such noncompliance would not reasonably be expected to
have a Material Adverse Effect. 

  
 18 

 uu.    OFAC. 

(i)    To the Company’s knowledge, neither the Company ( the “Entity”) nor, to the Company’s
knowledge, any director, officer, employee, agent, affiliate or representative of the Entity, is a government, individual, or entity (in this paragraph (ss), “Person”) that is, or is owned or controlled by a Person that is: 

(a) the subject of any sanctions administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control
(“OFAC”), the United Nations Security Council (“UNSC”), the European Union (“EU”), Her Majesty’s Treasury (“HMT”), or other relevant sanctions authority (collectively, “Sanctions”), nor 

(b) located, organized or resident in a country or territory that is the subject of Sanctions. 

(ii)    The Entity represents and covenants that it will not, directly or indirectly, knowingly use the proceeds of the
offering, or knowingly lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person: 

(a)    to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the
time of such funding or facilitation, is the subject of Sanctions; or 
 (b)    in any other manner that will result in
a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise). 

(iii)    The Entity represents and covenants that, except as detailed in the Prospectus, for the past five years, it has
not knowingly engaged in, is not now knowingly engaged in, and will not knowingly engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of
Sanctions. 
 vv.    Stock Transfer Taxes. On each Settlement Date, all material stock transfer or other taxes
(other than income taxes) which are required to be paid by the Company in connection with the sale and transfer of the Placement Shares to be sold hereunder will be, or will have been, fully paid or provided for by the Company and all laws imposing
such taxes will be or will have been fully complied with by the Company in all material respects. 
 Any certificate signed by an officer of
the Company and delivered to the Agent or to counsel for the Agent pursuant to or in connection with this Agreement shall be deemed to be a representation and warranty by the Company, as applicable, to the Agent as to the matters set forth therein.

 7.    Covenants of the Company. The Company covenants and agrees with the Agent that: 

a.    Registration Statement Amendments. After the date of this Agreement and during any period in which a
prospectus relating to any Placement Shares is required to be delivered by the Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act) (the “Prospectus
Delivery Period”), (i) the Company will notify the Agent promptly of the time when any 

  
 19 

 
subsequent amendment to the Registration Statement, other than documents incorporated by reference or amendments not related to any Placement, has been filed with the Commission and/or has become
effective or any subsequent supplement to the Prospectus has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus related to the Placement or for additional information related
to the Placement, (ii) the Company will prepare and file with the Commission, promptly upon the Agent’s request, any amendments or supplements to the Registration Statement or Prospectus that, in the Agent’s reasonable opinion, may be
necessary or advisable in connection with the distribution of the Placement Shares by the Agent (provided, however, that the failure of the Agent to make such request shall not relieve the Company of any obligation or liability
hereunder, or affect the Agent’s right to rely on the representations and warranties made by the Company in this Agreement and provided, further, that the only remedy the Agent shall have with respect to the failure to make such filing shall be
to cease making sales under this Agreement until such amendment or supplement is filed); (iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus relating to the Placement Shares or a security
convertible into the Placement Shares (other than an Incorporated Document) unless a copy thereof has been submitted to the Agent within a reasonable period of time before the filing and the Agent has not reasonably objected thereto within two
(2) Business Days (as defined below) (provided, however, that (A) the failure of the Agent to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect the Agent’s right to
rely on the representations and warranties made by the Company in this Agreement and (B) the Company has no obligation to provide the Agent any advance copy of such filing or to provide the Agent an opportunity to object to such filing if the
filing does not name the Agent or is not related to the transaction herein provided; and provided, further, that the only remedy the Agent shall have with respect to the failure by the Company to obtain such consent shall be to cease making sales
under this Agreement), and the Company will furnish to the Agent at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those
documents available via EDGAR; and (iii) the Company will cause each amendment or supplement to the Prospectus to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act or, in the case
of any document to be incorporated therein by reference, to be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed (the determination to file or not file any amendment or supplement with the
Commission under this Section 7(a), based on the Company’s reasonable opinion or reasonable objections, shall be made exclusively by the Company). 

b.    Notice of Commission Stop Orders. The Company will advise the Agent, promptly after it receives notice or
obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, of the suspension of the qualification of the Placement Shares for offering or sale in
any jurisdiction, or of the initiation or threatening of any proceeding for any such purpose; and it will promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal if such a stop order should be
issued. The Company will advise the Agent promptly after it receives any request by the Commission for any amendments to the Registration Statement or any amendment or supplements to the Prospectus or any Issuer Free Writing Prospectus or for
additional information related to the offering of the Placement Shares or for additional information related to the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus. 

  
 20 

 c.    Delivery of Prospectus; Subsequent Changes. During the
Prospectus Delivery Period, the Company will use its commercially reasonable efforts to comply with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates all
reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. If the Company has omitted any
information from the Registration Statement pursuant to Rule 430A under the Securities Act, it will use its commercially reasonable efforts to comply with the provisions of and make all requisite filings with the Commission pursuant to said Rule
430A and to notify the Agent promptly of all such filings. If during the Prospectus Delivery Period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to
state a material fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such Prospectus Delivery Period it is necessary to amend or supplement the Registration Statement or
Prospectus to comply with the Securities Act, the Company will promptly notify the Agent to suspend the offering of Placement Shares during such period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at
the expense of the Company) so as to correct such statement or omission or effect such compliance; provided, however, that the Company may delay the filing of any amendment or supplement, if in the judgment of the Company, it is in the
best interest of the Company. 
 d.    Listing of Placement Shares. During the Prospectus Delivery Period, the
Company will use its reasonable best efforts to cause the Placement Shares to be listed on the Exchange and to qualify the Placement Shares for sale under the securities laws of such jurisdictions in the United States as the Agent reasonably
designates and to continue such qualifications in effect so long as required for the distribution of the Placement Shares; provided, however, that the Company shall not be required in connection therewith to qualify as a foreign
corporation or dealer in securities or file a general consent to service of process in any jurisdiction. 

e.    Delivery of Registration Statement and Prospectus. The Company will furnish to the Agent and its counsel (at
the reasonable expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus that are filed
with the Commission during the Prospectus Delivery Period (including all documents filed with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such
quantities as the Agent may from time to time reasonably request and, at the Agent’s request, will also furnish copies of the Prospectus to each exchange or market on which sales of the Placement Shares may be made; provided,
however, that the Company shall not be required to furnish any document to the Agent to the extent such document is available on EDGAR. 

f.    Earnings Statement. The Company will make generally available to its security holders as soon as practicable,
but in any event not later than 15 months after the end of the Company’s current fiscal quarter, an earnings statement covering a 12-month period that satisfies the provisions of Section 11(a) and
Rule 158 of the Securities Act. 

  
 21 

 g.    Use of Proceeds. The Company will use the Net Proceeds as
described in the Prospectus in the section entitled “Use of Proceeds.” 
 h.    Notice of Other Sales.
Without the prior written consent of the Agent, the Company will not, directly or indirectly, offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant
to this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire, Common Stock during the period beginning on the date on which any Placement Notice is delivered to the Agent hereunder
and ending on the third (3rd) Trading Day immediately following the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice has been terminated or suspended prior to the sale of all
Placement Shares covered by a Placement Notice, the date of such suspension or termination); and will not directly or indirectly in any other “at the market” or continuous equity transaction offer to sell, sell, contract to sell, grant any
option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire, Common Stock
prior to the termination of this Agreement; provided, however, that such restrictions will not be required in connection with the Company’s issuance or sale of (i) Common Stock, options to purchase Common Stock or Common
Stock issuable upon the exercise of options, pursuant to any employee or director stock option or benefits plan, stock ownership plan or dividend reinvestment plan (but not Common Stock subject to a waiver to exceed plan limits in its dividend
reinvestment plan) of the Company whether now in effect or hereafter implemented; (ii) Common Stock issuable upon conversion of securities or the exercise of warrants, options or other rights in effect or outstanding, and disclosed in filings
by the Company available on EDGAR or otherwise in writing to the Agent; (iii) Common Stock, or securities convertible into or exercisable for Common Stock, offered and sold in a privately negotiated transaction to vendors, customers, strategic
partners or potential strategic partners or other investors conducted in a manner so as not to be integrated with the offering of Common Stock hereby; and (iv) Common Stock in connection with any acquisition, strategic investment or other
similar transaction (including any joint venture, strategic alliance or partnership). 
 i.    Change of
Circumstances. The Company will, at any time during the pendency of a Placement Notice, advise the Agent promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any
material respect any opinion, certificate, letter or other document required to be provided to the Agent pursuant to this Agreement. 

j.    Due Diligence Cooperation. During the term of this Agreement, the Company will cooperate with any reasonable
due diligence review conducted by the Agent or their representatives in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate officers, during
regular business hours and at the Company’s principal offices, as the Agent may reasonably request. 

  
 22 

 k.    Required Filings Relating to Placement of Placement Shares.
To the extent that the filing of a prospectus supplement with the Commission with respect to a placement of Placement Shares becomes required under Rule 424(b) under the Securities Act, the Company agrees that on such dates as the Securities Act
shall require, the Company will (i) file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act (each and every filing under Rule 424(b), a “Filing Date”), which
prospectus supplement will set forth, within the relevant period, the amount of Placement Shares sold through the Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Agent with respect to such Placement Shares,
and (ii) deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales were effected as may be required by the rules or regulations of such exchange or market. 

l.    Representation Dates; Certificate. Each time during the term of this Agreement that the Company: 

(i)    amends or supplements (other than a prospectus supplement relating solely to an offering of securities other than
the Placement Shares) the Registration Statement or the Prospectus relating to the Placement Shares by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration
Statement or the Prospectus relating to the Placement Shares; 
 (ii)    files an annual report on Form 10-K under the Exchange Act (including any Form 10-K/A containing amended financial information or a material amendment to the previously filed Form 10-K); 
 (iii)    files its quarterly reports on Form
10-Q under the Exchange Act; or 
 (iv)    files a current report on Form 8-K containing amended financial information (other than information “furnished” pursuant to Items 2.02 or 7.01 of Form 8-K or to provide disclosure pursuant to Item
8.01 of Form 8-K relating to the reclassification of certain properties as discontinued operations in accordance with Statement of Financial Accounting Standards No. 144) under the Exchange Act; 

(Each date of filing of one or more of the documents referred to in clauses (i) through (iv) shall be a “Representation Date.”): 

the Company shall furnish the Agent (but in the case of clause (iv) above only if the Agent reasonably determines that the information contained in such
Form 8-K is material) with a certificate, in the form attached hereto as Exhibit 7(l). The requirement to provide a certificate under this Section 7(l) shall be waived for any
Representation Date occurring at a time at which no Placement Notice is pending, which waiver shall continue until the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be
considered a Representation Date) and the next occurring Representation Date on which the Company files its annual report on Form 10-K. Notwithstanding the foregoing, (i) upon the delivery of the first
Placement Notice hereunder and (ii) if the Company subsequently decides to sell Placement Shares following a Representation Date when the Company relied on such waiver 

  
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and did not provide the Agent with a certificate under this Section 7(l), then before the Agent sells any Placement Shares, the Company shall provide the Agent with a
certificate, in the form attached hereto as Exhibit 7(l), dated the date of the Placement Notice. 

m.    Legal Opinion. 

(i)    Company Counsel. On or prior to the date of the first Placement Notice given hereunder, the Company
shall cause to be furnished to the Agent the written opinion and a negative assurance letter of Wilson, Sonsini, Goodrich & Rosati LLP (“Company Counsel”), or other counsel reasonably satisfactory to the Agent, in form and
substance reasonably satisfactory to the Agent. Thereafter, within five (5) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in substantially the form attached hereto as
Exhibit 7(l) for which no waiver is applicable, and not more than once per calendar quarter, the Company shall cause to be furnished to the Agent the written opinion and a negative assurance letter of Company Counsel in form and substance
previously agreed, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; provided that, in lieu of such opinion and negative assurance for subsequent periodic filings under the
Exchange Act, Company Counsel may furnish the Agent with a letter (a “Reliance Letter”) to the effect that the Agent may rely on the opinion and negative assurance letter previously delivered under this Section 7(m) to the same
extent as if it were dated the date of such letter (except that statements in such prior letter shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented as of the date of the Reliance Letter). 

(ii)    Intellectual Property Counsel. On or prior to the date of the first Placement Notice given
hereunder, the Company shall cause to be furnished to the Agent the written opinion and a negative assurance letter of Wilson, Sonsini, Goodrich & Rosati LLP (collectively, “Intellectual Property Counsel”), or other counsel
reasonably satisfactory to the Agent, in form and substance reasonably satisfactory to the Agent. Thereafter, within five (5) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in
substantially the form attached hereto as Exhibit 7(l) for which no waiver is applicable, and not more than once per calendar quarter, the Company shall cause to be furnished to the Agent the written opinion and negative assurance letter of
Intellectual Property Counsel in form and substance previously agreed, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; provided that, in lieu of such opinion and negative
assurance for subsequent periodic filings under the Exchange Act, Intellectual Property Counsel may furnish the Agent with a Reliance Letter to the effect that the Agent may rely on the opinion and negative assurance letter previously delivered
under this Section 7(m) to the same extent as if it were dated the date of such letter (except that statements in such prior letter shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented as of the
date of the Reliance Letter). 
 n.    Comfort Letter. On or prior to the date of the first Placement Notice
given hereunder and within five (5) Trading Days after each subsequent Representation Date, other than pursuant to Section 7(l)(iii), the Company shall cause its independent accountants to furnish the Agent letters
(the “Comfort Letters”), dated the date the Comfort Letter is delivered, which shall meet the requirements set forth in this Section 7(n); provided, that if requested by the

  
 24 

 
Agent, the Company shall cause a Comfort Letter to be furnished to the Agent within five (5) Trading Days of such request following the date of occurrence of any restatement of the
Company’s financial statements. The Comfort Letter from the Company’s independent accountants shall be in a form and substance reasonably satisfactory to the Agent, (i) confirming that they are an independent public accounting firm
within the meaning of the Securities Act and the PCAOB, (ii) stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants’ “comfort
letters” to underwriters in connection with registered public offerings (the first such letter, the “Initial Comfort Letter”) and (iii) updating the Initial Comfort Letter with any information that would have been included
in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. 

o.    Market Activities. The Company will not, directly or indirectly, (i) take any action designed to cause
or result in, or that constitutes or would reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of Common Stock or (ii) sell, bid for, or purchase
Common Stock in violation of Regulation M, or pay anyone any compensation for soliciting purchases of the Placement Shares other than the Agent. 

p.    Investment Company Act. The Company will conduct its affairs in such a manner so as to reasonably ensure that
it will not be or become, at any time prior to the termination of this Agreement, an “investment company,” as such term is defined in the Investment Company Act. 

q.    No Offer to Sell. Other than an Issuer Free Writing Prospectus approved in advance by the Company and the
Agent in their capacity as agent hereunder pursuant to Section 23, neither of the Agent nor the Company (including its agents and representatives, other than the Agent in their capacity as such) will make, use, prepare,
authorize, approve or refer to any written communication (as defined in Rule 405), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Placement Shares hereunder. 

r.    Sarbanes-Oxley Act. The Company will maintain and keep accurate books and records reflecting its assets and
maintain internal accounting controls in a manner designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP and including those
policies and procedures that (i) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company, (ii) provide reasonable assurance that
transactions are recorded as necessary to permit the preparation of the Company’s consolidated financial statements in accordance with GAAP, (iii) that receipts and expenditures of the Company are being made only in accordance with
management’s and the Company’s directors’ authorization, and (iv) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have
a material effect on its financial statements. The Company will use commercially reasonable efforts to maintain such controls and other procedures, including, without limitation, those required by Sections 302 and 906 of the Sarbanes-Oxley Act, and
the applicable regulations thereunder that are designed to ensure that 

  
 25 

 
information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods
specified in the Commission’s rules and forms, including, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is
accumulated and communicated to the Company’s management, including its principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure
and to ensure that material information relating to the Company is made known to them by others within those entities, particularly during the period in which such periodic reports are being prepared. 

8.    Representations and Covenants of the Agent. The Agent represents and warrants that it is duly registered as a
broker-dealer under FINRA, the Exchange Act and the applicable statutes and regulations of each state in which the Placement Shares will be offered and sold, except such states in which the Agent is exempt from registration or such registration is
not otherwise required. The Agent shall continue, for the term of this Agreement, to be duly registered as a broker-dealer under FINRA, the Exchange Act and the applicable statutes and regulations of each state in which the Placement Shares will be
offered and sold, except such states in which it is exempt from registration or such registration is not otherwise required, during the term of this Agreement. The Agent shall comply with all applicable law and regulations, including but not limited
to Regulation M, in connection with the transactions contemplated by this Agreement, including the issuance and sale through the Agent of the Placement Shares. 

9.    Payment of Expenses. The Company will pay all expenses incident to the performance of its obligations under
this Agreement, including (i) the preparation, filing, including any fees required by the Commission, and printing of the Registration Statement (including financial statements and exhibits) as originally filed and of each amendment and
supplement thereto and each Free Writing Prospectus, in such number as the Agent shall deem reasonably necessary, (ii) the printing and delivery to the Agent of this Agreement and such other documents as may be reasonably required in connection
with the offering, purchase, sale, issuance or delivery of the Placement Shares, (iii) the preparation, issuance and delivery of the certificates, if any, for the Placement Shares to the Agent, including any stock or other transfer taxes and
any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the Placement Shares to the Agent, (iv) the fees and disbursements of the counsel, accountants and other advisors to the Company,
(v) the fees and disbursements of counsel to the Agent up to $40,000 payable upon execution of this Agreement and up to $4,000 for each calendar quarter for expenses associated with ongoing due diligence; (vi) the fees and expenses of the
transfer agent and registrar for the Common Stock, (vii) the filing fees incident to any review by FINRA of the terms of the sale of the Placement Shares, and (viii) the fees and expenses incurred in connection with the listing of the
Placement Shares on the Exchange. 
 10.    Conditions to the Agent’s Obligations. The obligations of the
Agent hereunder with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein (other than those representations and warranties made as of a specific date or
time), to the due performance in all material respects by the Company of its obligations hereunder, to the completion by the Agent of a due diligence 

  
 26 

 
review satisfactory to it in its reasonable judgment, and to the continuing reasonable satisfaction (or waiver the Agent in its sole discretion) of the following additional conditions: 

a.    Registration Statement Effective. The Registration Statement shall have become effective and shall be
available for the sale of all Placement Shares contemplated to be issued by any Placement Notice. 
 b.    No
Material Notices. None of the following events shall have occurred and be continuing: (i) receipt by the Company of any request for additional information from the Commission or any other federal or state governmental authority during the
period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus which have not, as of the time of such Placement, been so made;
(ii) the issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by
the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or
(iv) the occurrence of any event that makes any material statement made in the Registration Statement or the Prospectus or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or
that requires the making of any changes in the Registration Statement, the Prospectus or documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus, it will not contain any materially untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, which changes shall not as of the time of such Placement have been so made. 

c.    No Misstatement or Material Omission. The Agent shall not have advised the Company that the Registration
Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in the Agent’s reasonable opinion is material, or omits to state a fact that in the Agent’s reasonable opinion is material and is
required to be stated therein or is necessary to make the statements therein not misleading. 
 d.    Material
Changes. Except as contemplated in the Prospectus, or disclosed in the Company’s reports filed with the Commission, there shall not have been any Material Adverse Effect, or any development that would reasonably be expected to cause a
Material Adverse Effect, or a downgrading in or withdrawal of the rating assigned to any of the Company’s securities (other than asset backed securities) by any rating organization or a public announcement by any rating organization that it has
under surveillance or review its rating of any of the Company’s securities (other than asset backed securities), the effect of which, in the case of any such action by a rating organization described above, in the reasonable judgment of the
Agent (without relieving the Company of any obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated in
the Prospectus.. 

  
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 e.    Legal Opinions. The Agent shall have received the opinions
and negative assurances of Company Counsel and Intellectual Property Counsel required to be delivered pursuant Section 7(m) on or before the date on which such delivery of such opinions are required pursuant to
Section 7(m). 
 f.    Comfort Letter. The Agent shall have received the Comfort
Letter required to be delivered pursuant Section 7(n) on or before the date on which such delivery of such letter is required pursuant to Section 7(n). 

g.    Representation Certificate. The Agent shall have received the certificate required to be delivered pursuant
to Section 7(l) on or before the date on which delivery of such certificate is required pursuant to Section 7(l). 

h.    Secretary’s Certificate. On or prior to the first Representation Date, the Agent shall have received a
certificate, signed on behalf of the Company by its corporate Secretary, in form and substance satisfactory to the Agent and its counsel. 

i.    No Suspension. Trading in the Common Stock shall not have been suspended on the Exchange and the Common
Stock shall not have been delisted from the Exchange. 
 j.    Other Materials. On each date on which the
Company is required to deliver a certificate pursuant to Section 7(l), the Company shall have furnished to the Agent such appropriate further information, certificates and documents as the Agent may reasonably request and
which are usually and customarily furnished by an issuer of securities in connection with a securities offering of the type contemplated hereby. 

k.    Securities Act Filings Made. All filings with the Commission required by Rule 424 under the Securities Act
to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424. 

l.    Approval for Listing. The Placement Shares shall either have been approved for listing on the Exchange,
subject only to notice of issuance, or the Company shall have filed an application for listing of the Placement Shares on the Exchange at, or prior to, the issuance of any Placement Notice. 

m.    No Termination Event; Insurance. There shall not have occurred any event that would permit the Agent to
terminate this Agreement pursuant to Section 13(a). The Company and its Subsidiaries shall maintain, or cause to be maintained, insurance in such amounts and covering such risks as is reasonable and customary for the
business in which it is engaged. 
 n.    FINRA. The Agent shall have received a letter from the Corporate
Financing Department of FINRA confirming that such department has determined to raise no objection with respect to the fairness or reasonableness of the terms and arrangements related to the sale of the Placement Shares pursuant to this Agreement.

  
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 o.    Termination of Equity Distribution Agreement. The Company
shall have irrevocably terminated the Equity Distribution Agreement entered into by and between the Company and Citigroup Global Markets Inc. on November 21, 2018. 

11.    Indemnification and Contribution. 

a.    Company Indemnification. The Company agrees to indemnify and hold harmless the Agent, its partners, members,
managers, directors, officers, employees and agents and each person, if any, who controls the Agent within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act as follows: 

(i)    against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, arising
out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), or the omission or alleged omission therefrom of a material fact required to be stated
therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included in any related Issuer Free Writing Prospectus or the Prospectus (or any amendment or
supplement thereto), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

(ii)    against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, to the
extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any
such alleged untrue statement or omission; provided that (subject to Section 11(d) below) any such settlement is effected with the written consent of the Company, which consent shall not unreasonably be delayed or withheld;
and 
 (iii)    against any and all expense whatsoever, as incurred (including the reasonable and documented out-of-pocket fees and disbursements of counsel), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by
any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i) or
(ii) above, 
 provided, however, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent
arising out of any untrue statement or omission or alleged untrue statement or omission made in the Registration Statement (or any amendment thereto) or in any related Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement
thereto) solely in reliance upon and in conformity with the Agent’s Information. 
 b.    Indemnification by the
Agent. The Agent agrees to indemnify and hold harmless the Company and its directors and each officer of the Company who signed the Registration Statement, and each person, if any, who (i) controls the Company within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act or (ii) is controlled by or is under common control with the Company against any and all loss, liability, 

  
 29 

 
claim, damage and expense described in the indemnity contained in Section 11(a), as incurred, but only with respect to untrue statements or omissions, made in the
Registration Statement (or any amendments thereto) or in any related Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with the Agent’s Information. 

c.    Procedure. Any party that proposes to assert the right to be indemnified under this
Section 11 will, promptly after receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this
Section 11, notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from
(i) any liability that it might have to any indemnified party otherwise than under this Section 11 and (ii) any liability that it may have to any indemnified party under the foregoing provision of this
Section 11 unless, and only to the extent that, such omission results in the forfeiture or material impairment of substantive rights or defenses by the indemnifying party. If any such action is brought against any
indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving
notice of the commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice
from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable
costs of investigation subsequently incurred by the indemnified party in connection with the defense. Each indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel
will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2) the indemnified party has reasonably concluded (based on advice of
counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a conflict or potential conflict of interest exists (based on advice
of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4) the
indemnifying party has not in fact employed counsel to assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in each of which cases the reasonable and documented out-of-pocket fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or
parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable and documented out-of-pocket fees,
disbursements and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time for an indemnified party. All such fees, disbursements and other charges will be reimbursed by the indemnifying party promptly
after the indemnifying party receives a written invoice relating to fees, disbursements and other charges in reasonable detail. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its
written consent. No indemnifying party shall, without the prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment 

  
 30 

 
in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section 11 (whether or not any indemnified party is a party
thereto), unless such settlement, compromise or consent (1) includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and (2) does not include a
statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. 

d.    Contribution. In order to provide for just and equitable contribution in circumstances in which the
indemnification provided for in the foregoing paragraphs of this Section 11 is applicable in accordance with its terms but for any reason is held to be unavailable from the Company or the Agent, the Company and the Agent
will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any
claim asserted, but after deducting any contribution received by the Company from persons other than the Agent, such as persons who control the Company within the meaning of the Securities Act or the Exchange Act, officers of the Company who signed
the Registration Statement and directors of the Company, who also may be liable for contribution) to which the Company and the Agent may be subject in such proportion as shall be appropriate to reflect the relative benefits received by the Company
on the one hand and the Agent on the other hand. The relative benefits received by the Company on the one hand and the Agent on the other hand shall be deemed to be in the same proportion as the total Net Proceeds from the sale of the Placement
Shares (before deducting expenses) received by the Company bear to the total compensation received by the Agent (before deducting expenses) from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided by the
foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of
the Company, on the one hand, and the Agent, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable
considerations with respect to such offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact
relates to information supplied by the Company or the Agent, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Agent agree that it
would not be just and equitable if contributions pursuant to this Section 11(d) were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations
referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this Section 11(d) shall be deemed to
include, for the purpose of this Section 11(d), any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with
Section 11(c) hereof. Notwithstanding the foregoing provisions of this Section 11(d), the Agent shall not be required to contribute any amount in excess of the commissions received by it under this
Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 11(d), any person who controls a party to this Agreement within the 

  
 31 

 
meaning of the Securities Act or the Exchange Act, and any officers, directors, partners, employees or agents of the Agent, will have the same rights to contribution as that party, and each
officer and director of the Company who signed the Registration Statement will have the same rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice
of commencement of any action against such party in respect of which a claim for contribution may be made under this Section 11(d), will notify any such party or parties from whom contribution may be sought, but the
omission to so notify will not relieve that party or parties from whom contribution may be sought from any other obligation it or they may have under this Section 11(d) except to the extent that the failure to so notify
such other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of Section 11(c) hereof, no party will be liable for
contribution with respect to any action or claim settled without its written consent if such consent is required pursuant to Section 11(c) hereof. 

12.    Representations and Agreements to Survive Delivery. The indemnity and contribution agreements contained in
Section 11 of this Agreement and all representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective dates, regardless of (i) any investigation made by or on behalf of
the Agent, any controlling persons, or the Company (or any of their respective officers, directors or controlling persons), (ii) delivery and acceptance of the Placement Shares and payment therefor or (iii) any termination of this Agreement.

 13.    Termination. 

a.    The Agent may terminate this Agreement, by written notice to the Company, as hereinafter specified at any time
(1) if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any Material Adverse Effect, or any development that is reasonably likely to have a Material Adverse
Effect or, in the reasonable judgment of the Agent, is material and adverse and makes it impractical or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (2) if there has occurred any
material adverse change in the financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change
in national or international political, financial or economic conditions, in each case the effect of which is such as to make it, in the reasonable judgment of the Agent, impracticable or inadvisable to market the Placement Shares or to enforce
contracts for the sale of the Placement Shares, (3) if trading in the Common Stock has been suspended or limited by the Commission or the Exchange, or if trading generally on the Exchange has been suspended or limited, or minimum prices for
trading have been fixed on the Exchange, (4) if any suspension of trading of any securities of the Company on any exchange or in the over-the-counter market shall
have occurred and be continuing, (5) if a major disruption of securities settlements or clearance services in the United States shall have occurred and be continuing, or (6) if a banking moratorium has been declared by either U.S. Federal
or New York authorities. Any such termination shall be without liability of any party to any other party except that the provisions of Section 9 (Payment of Expenses), Section 11 (Indemnification
and Contribution), Section 12 (Representations and Agreements to Survive Delivery), Section 18 (Governing Law and Time; 

  
 32 

 
Waiver of Jury Trial) and Section 19 (Consent to Jurisdiction) hereof shall remain in full force and effect notwithstanding such termination. If the Agent elects to
terminate this Agreement as provided in this Section 13(a), the Agent shall provide the required notice as specified in Section 14 (Notices). 

b.    The Company shall have the right, by giving written notice as hereinafter specified, to terminate this Agreement in
its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of Section 9 (Payment of Expenses),
Section 11 (Indemnification and Contribution), Section 12 (Representations and Agreements to Survive Delivery), Section 18 (Governing Law and Time; Waiver of Jury Trial)
and Section 19 (Consent to Jurisdiction) hereof shall remain in full force and effect notwithstanding such termination. 

c.    The Agent shall have the right, by giving written notice as hereinafter specified, to terminate this Agreement in
its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of Section 9 (Payment of Expenses),
Section 11 (Indemnification and Contribution), Section 12 (Representations and Agreements to Survive Delivery), Section 18 (Governing Law and Time; Waiver of Jury Trial)
and Section 19 (Consent to Jurisdiction) hereof shall remain in full force and effect notwithstanding such termination. 

d.    Unless earlier terminated pursuant to this Section 13, this Agreement shall automatically
terminate upon the issuance and sale of all of the Placement Shares through the Agent on the terms and subject to the conditions set forth herein except that the provisions of Section 9 (Payment of Expenses),
Section 11 (Indemnification and Contribution), Section 12 (Representations and Agreements to Survive Delivery), Section 18 (Governing Law and Time; Waiver of Jury Trial)
and Section 19 (Consent to Jurisdiction) hereof shall remain in full force and effect notwithstanding such termination. 

e.    This Agreement shall remain in full force and effect unless terminated pursuant to Sections 13(a),
(b), (c), or (d) above or otherwise by mutual agreement of the parties; provided, however, that any such termination by mutual agreement shall in all cases be deemed to provide that
Section 9 (Payment of Expenses), Section 11 (Indemnification and Contribution), Section 12 (Representations and Agreements to Survive Delivery),
Section 18 (Governing Law and Time; Waiver of Jury Trial) and Section 19 (Consent to Jurisdiction) shall remain in full force and effect. Upon termination of this Agreement, the Company shall not
have any liability to the Agent for any discount, commission or other compensation with respect to any Placement Shares not otherwise sold by the Agent under this Agreement. 

f.    Any termination of this Agreement shall be effective on the date specified in such notice of termination;
provided, however, that such termination shall not be effective until the close of business on the date of receipt of such notice by the Agent or the Company, as the case may be. If such termination shall occur prior to the Settlement
Date for any sale of Placement Shares, such Placement Shares shall settle in accordance with the provisions of this Agreement. 

  
 33 

 14.    Notices. All notices or other communications required or
permitted to be given by any party to any other party pursuant to the terms of this Agreement shall be in writing, unless otherwise specified, and if sent to the Agent, shall be delivered to: 

Ladenburg Thalmann & Co. Inc. 

277 Park Avenue, 26th Floor 
 New
York, NY 10172 
 Attention: Joseph Giovanniello, Counsel 

Tel: (212) 409-2544 

Email: jgiovanniello@ladenburg.com 
 with a copy
to: 
 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 

666 Third Avenue 
 New York, NY
10017 
 Attention: Ivan K. Blumenthal, Esq. 

Telephone: (212) 692-6784 

Email: ikblumenthal@mintz.com 
 and if to the
Company, shall be delivered to: 
 1124 West Carson Street 

MRL Building 3-320 

Torrance, CA 
 Attention: Paul A.
Wagner, Ph.D., President and Chief Executive Officer 
 Telephone: (310) 618-6994 

Email: pwagner@fortebiorx.com 
 with a copy to:

 Wilson, Sonsini, Goodrich & Rosati LLP 

12235 El Camino Real 
 San Diego,
CA 92130 
 Attention: Dan Koeppen, Esq. 

Telephone: (858) 350-2300 

Email: dkoeppen@wsgr.com 
 Each
party to this Agreement may change such address for notices by sending to the parties to this Agreement written notice of a new address for such purpose. Each such notice or other communication shall be deemed given (i) when delivered
personally, by email, or by verifiable facsimile transmission (with an original to follow) on or before 4:30 p.m., New York City time, on a Business Day or, if such day is not a Business Day, on the next succeeding Business Day, (ii) on the
next Business Day after timely delivery to a nationally-recognized overnight courier and (iii) on the Business Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For
purposes of this Agreement, “Business Day” shall mean any day on which the Exchange and commercial banks in the City of New York are open for business. 

  
 34 

 An electronic communication (“Electronic Notice”) shall be deemed written
notice for purposes of this Section 14 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending Electronic Notice
receives confirmation of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic Notice”) which shall be sent to
the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice. 

15.    Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Company and the
Agent and their respective successors and the affiliates, controlling persons, officers and directors referred to in Section 11 hereof. References to any of the parties contained in this Agreement shall be deemed to include
the successors and permitted assigns of such party. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies,
obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party. 

16.    Adjustments for Stock Splits. The parties acknowledge and agree that all share- related numbers contained in
this Agreement shall be adjusted to take into account any share consolidation, stock split, stock dividend, corporate domestication or similar event effected with respect to the Placement Shares. 

17.    Entire Agreement; Amendment; Severability. This Agreement (including all schedules and exhibits attached
hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter
hereof. Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Agent. In the event that any one or more of the provisions contained herein, or the application thereof in any
circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and enforceable, and the
remainder of the terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder of the terms and
provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement. 

18.    GOVERNING LAW AND TIME; WAIVER OF JURY TRIAL. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. EACH PARTY HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

  
 35 

 19.    CONSENT TO JURISDICTION. EACH PARTY HEREBY IRREVOCABLY
SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH ANY
TRANSACTION CONTEMPLATED HEREBY, 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 (CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR 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. 

20.    Use of Information. The Agent may not use any information gained in connection with this Agreement and the
transactions contemplated by this Agreement, including due diligence, to advise any party with respect to transactions not expressly approved by the Company. 

21.    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. Delivery of an executed Agreement by one party to the other may be made by facsimile transmission. 

22.    Effect of Headings. The section and Exhibit headings herein are for convenience only and shall not affect
the construction hereof. 
 23.    Permitted Free Writing Prospectuses. 

The Company represents, warrants and agrees that, unless it obtains the prior consent of the Agent, which shall not be unreasonably withheld,
conditioned or delayed, and the Agent represents, warrants and agrees that, unless it obtains the prior consent of the Company, which shall not be unreasonably withheld, conditioned or delayed, it has not made and will not make any offer relating to
the Placement Shares that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a “free writing prospectus,” as defined in Rule 405, required to be filed with the Commission. Any such free writing
prospectus consented to by the Agent or by the Company, as the case may be, is hereinafter referred to as a “Permitted Free Writing Prospectus.” The Company represents and warrants that it has treated and agrees that it will treat each
Permitted Free Writing Prospectus as an “issuer free writing prospectus,” as 

  
 36 

 
defined in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where
required, legending and record keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in Exhibit 23 hereto are Permitted Free Writing Prospectuses. 

24.    Absence of Fiduciary Relationship. The Company acknowledges and agrees that: 

a.    The Agent is acting solely as agent in connection with the public offering of the Placement Shares and in connection
with each transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its affiliates, stockholders (or other equity holders), creditors or employees
or any other party, on the one hand, and the Agent, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not the Agent has advised or is advising the Company
on other matters, and the Agent has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement; 

b.    it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the
transactions contemplated by this Agreement; 
 c.    No Agent has provided any legal, accounting, regulatory or tax
advice with respect to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; 

d.    it is aware that the Agent and its respective affiliates are engaged in a broad range of transactions which may
involve interests that differ from those of the Company and the Agent has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and 

e.    it waives, to the fullest extent permitted by law, any claims it may have against the Agent for breach of fiduciary
duty or alleged breach of fiduciary duty in connection with the sale of Placement Shares under this Agreement and agrees that the Agent shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of
such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf or in right of it or the Company, employees or creditors of Company, other than in respect of the Agent’s obligations under this Agreement and to keep
information provided by the Company to the Agent and its counsel confidential to the extent not otherwise publicly-available. 

25.    Definitions. 

As used in this Agreement, the following terms have the respective meanings set forth below: 

“Agent’s Information” means such information provided by the Agent for inclusion in the Prospectus; provided, however,
that the parties hereto acknowledge that no such information was provided by or on behalf of the Agent as of the date of this Agreement. 

  
 37 

 “Applicable Time” means (i) each Representation Date and (ii) the
time of each sale of any Placement Shares pursuant to this Agreement. 
 “Issuer Free Writing Prospectus” means any
“issuer free writing prospectus,” as defined in Rule 433, relating to the Placement Shares that (1) is required to be filed with the Commission by the Company, (2) is a “road show” that is a “written
communication” within the meaning of Rule 433(d)(8)(i) whether or not required to be filed with the Commission, or (3) is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Placement Shares or of the
offering that does not reflect the final terms, in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant to Rule 433(g) under the
Securities Act. 
 “Rule 172,” “Rule 405,” “Rule 415,” “Rule 424,”
“Rule 424(b),” “Rule 430B,” and “Rule 433” refer to such rules under the Securities Act. 

All references in this Agreement to financial statements and schedules and other information that is “contained,”
“included” or “stated” in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and other information that is
incorporated by reference in the Registration Statement or the Prospectus, as the case may be. 
 All references in this Agreement to the
Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all references in this Agreement to any Issuer Free Writing Prospectus
(other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this
Agreement to “supplements” to the Prospectus shall include, without limitation, any supplements, “wrappers” or similar materials prepared in connection with any offering, sale or private placement of any Placement Shares by the
Agent outside of the United States. 
 [Remainder of the page intentionally left blank] 

  
 38 

 If the foregoing correctly sets forth the understanding between the Company and the Agent,
please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and the Agent. 

 

			
	Very truly yours,
	
	FORTE BIOSCIENCES, INC.
		
	By:	 	 /s/ Paul Wagner

	Name:	 	Paul Wagner, Ph.D.
	Title:	 	Chief Executive Officer

  
 39 

 
			
	ACCEPTED as of the date first-above written:
	
	LADENBURG THALMANN & CO. INC.
		
	By:	 	 /s/ David J. Strupp

	Name:	 	David J. Strupp Jr.
	Title:	 	Managing Director

  
 40 

 SCHEDULE 1 

 
  

FORM OF PLACEMENT NOTICE 
  

 
  

			
	From:	  	Forte Biosciences, Inc.
		
	To:	  	[●]
		
	Attention:	  	[●]
		
	Subject:	  	At Market Issuance—Placement Notice
		
	Date:	  	                    , 20    

 Gentlemen: 

Pursuant to the terms and subject to the conditions contained in the At Market Issuance Sales Agreement between Forte Biosciences, Inc., a
Delaware corporation (the “Company”), Ladenburg Thalmann & Co. Inc. (the “Agent”) dated September 4, 2020, the Company hereby requests that the Agent sell up to
[            ] shares of the Company’s Common Stock, $0.001 par value per share, at a minimum market price of
$[            ] per share, during the time period beginning [month, day, time] and ending [month, day, time]. 

 SCHEDULE 2 

 
  

Notice Parties 
  

 
 The
Company 
 Paul Wagner 

Tony Riley 
 The Agent 

David Rosenberg – dr@ladenburg.com 

David Strupp – dstrupp@ladenburg.com 

Vlad Ivanov – vivanov@ladenburg.com 

 SCHEDULE 3 

 
  

Compensation 
  

 
 The Company
shall pay to the Agent in cash, upon each sale of Placement Shares pursuant to this Agreement, an amount equal to up to 3.0% of the gross proceeds from each sale of Placement Shares. 

 SCHEDULE 4 

 
  

Subsidiaries 
  

 
 Forte Subsidiary, Inc. 

 EXHIBIT 7(l) 

Form of Representation Date Certificate 

                    ,
20     
 This Representation Date Certificate (this “Certificate”) is executed and
delivered in connection with Section 7(l) of the At Market Issuance Sales Agreement (the “Agreement”), dated September 4, 2020 and entered into between Forte Biosciences, Inc. (the
“Company”) Ladenburg Thalmann & Co. Inc. (the “Agent”). All capitalized terms used but not defined herein shall have the meanings given to such terms in the Agreement. 

The Company hereby certifies as follows: 

1.     As of the date of this Certificate (i) the Registration Statement does not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading and (ii) neither the Registration Statement nor the Prospectus contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading and (iii) no event has occurred as a
result of which it is necessary to amend or supplement the Prospectus in order to make the statements therein not untrue or misleading for this paragraph 1 to be true. 

2.    Each of the representations and warranties of the Company contained in the Agreement were, when originally made, and
are, as of the date of this Certificate, true and correct in all material respects. 
 3.    Each of the covenants
required to be performed by the Company in the Agreement on or prior to the date of the Agreement, this Representation Date, and each such other date prior to the date hereof as set forth in the Agreement, has been duly, timely and fully performed
in all material respects and each condition required to be complied with by the Company on or prior to the date of the Agreement, this Representation Date, and each such other date prior to the date hereof as set forth in the Agreement has been
duly, timely and fully complied with in all material respects. 
 4.    Subsequent to the date of the most recent
financial statements in the Prospectus, and except as described in the Prospectus, including Incorporated Documents, there has been no Material Adverse Effect. 

5.    No stop order suspending the effectiveness of the Registration Statement or of any part thereof has been issued, and
to the Company’s knowledge, no proceedings for that purpose have been instituted or are pending or threatened by any securities or other governmental authority (including, without limitation, the Commission). 

 6.    No order suspending the qualification or registration of the
Placement Shares under the securities or Blue Sky laws of any jurisdiction are in effect and no proceeding for such purpose is pending before, or threatened, to the Company’s knowledge or in writing by, any securities or other governmental
authority (including, without limitation, the Commission). 
 The undersigned has executed this Representation Date Certificate as of the
date first written above. 
  

			
	FORTE BIOSCIENCES, INC.

 
			
		
	By:	 	  

		
	Name:	 	
		
	Title:	 	

 EXHIBIT 23 

Permitted Issuer Free Writing Prospectuses 

None.

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