展览二点一

合并与重组协议和计划

其中：

GlycoMimetics,Inc。

双子座 并购SUb公司。;

双子座 Merger Sub II，LLC并且

Crescent 生物制药，公司。

截至2024年10月28日

目录

附件：

合并与重组协议和计划

本合并和重组协议计划 （本“协议”协议日期为2024年10月28日签署并生效，参与方包括 GlycoMimetics公司这是一家特拉华州公司（“该公司”），母公司。 ”), Gemini Merger Sub corp公司，Parent的全资子公司，总部位于特拉华州第一合并公司”), Gemini Merger Sub II，有限责任公司，Parent的全资子公司，位于特拉华州的有限责任公司第二合并公司”及第一合并子公司，一同Merger Subs Crescent生物制药公司，一家特拉华州公司（以下简称“公司”）。本协议中使用的某些大写字母定义在 第一部分.

陈述事项

A. 父母公司打算通过本协议和DGCL的规定使第一合并子公司与公司进行合并。第一次合并完成后，第一合并子公司将不复存在，而公司将成为母公司的全资子公司。第一次合并在本协议和DGCL的规定下，父母公司打算执行第一合并，使第一合并子公司与公司合并。完成第一次合并后，第一合并子公司将停止存在，公司将成为父母公司的全资子公司。

在首次合并后立即，并作为与首次合并相同的整体交易的一部分，公司将与第二次合并子公司合并（称为“第二次合并”和First Merger一起，构成“合并”），第二次合并子公司将成为第二次合并的存续实体。

各方意图，（i）第一次合并和第二次合并，合并在一起构成了《税收法规第2001-46号》所描述的一个整体交易，符合《法典第368(a)条》中“重组”的定义，以及（ii）本协议将构成并且特此被采纳为一个重组计划，符合财政部法规第1.368-2(g)条和1.368-3(a)条的定义。

董事会已经（i）确定拟议交易对于上级公司及其股东是公平的、明智的，并符合最佳利益，（ii）赞同并认为本协议和拟议交易是明智的，包括根据本协议向公司股东发行上级公司股份的条款，（iii）决定根据本协议规定的条款，建议上级公司股东投票批准本协议，从而批准上级公司股东事项，包括拟议交易，并反对任何竞争提案。

第一并购子公司董事会已经（i）确定拟议的交易对第一并购子公司及其唯一股东是公平的、明智的并且符合最佳利益，（ii）批准并宣布本协议和拟议的交易是明智的，（iii）决定推荐，根据本协议规定的条款和条件，要求第一并购子公司的股东投票通过本协议，并因此批准拟议的交易。

第二次合并子公司唯一成员已确定拟议交易对第二次合并子公司及其唯一成员公平、明智且符合最佳利益，已批准并宣布本协议和拟议交易明智，已决定根据本协议中规定的条款和条件推荐第二次合并子公司的唯一成员投票通过本协议，并因此批准拟议交易。

G. 公司董事会已确定拟议交易对公司及其股东是公平合理且符合最佳利益，已批准并认为本协议及拟议交易是合理的，已决定根据本协议载明的条款和条件向公司股东推荐，要求他们投票通过本协议，并因此批准拟议交易。

同时与本协议的执行和交付一起，并作为公司愿意进入本协议的条件和诱因之一，列名在 A部分 的母公司披露函中（仅以母公司股东身份）签署支持协议，形式基本如附件所示的 附件A-1 (“本登记声明”) 由特立软件股份有限公司，一家德拉华州股份公司 (以下简称为“本公司”) 提交，目的是为了注册其额外的7,184,563股A类普通股，每股面值$0.0001 (以下简称为“A类普通股”), 以及在特立软件股份有限公司 2022年股权激励计划下可发行股份的1,436,911股A类普通股，注(下文简称为“A类普通股”)。母公司股东支持协议，根据其中规定的条款和条件，这些人同意投票支持母公司股份的全部股份，以赞成本协议的批准并批准拟议的交易，如果母公司认为有必要，还可以修正母公司的公司章程以实施纳斯达克的逆向分拆和其他事项，并反对任何竞争性提案。

I. 同时 本协议的执行和交付，并作为父母愿意签订本协议的条件和激励 协议，本公司的每位高级职员、董事和股东在上市 A部分 公司披露信息 信函（仅以公司股东的身份）正在执行实质上有利于母公司的支持协议 此处所附的表格为 附录 A-2 （这个”公司股东支持协议”），据此 在遵守其中规定的条款和条件的前提下，这些人已同意对其所有公司股本进行投票 赞成通过本协议，从而批准预期的交易，反对任何竞争提案。

在签署并交付本协议的同时，作为控件并诱因，公司或母公司有意进入本协议的所有股东列名 B板块 公司披露函的第一部分的附表所附的基本形式的锁定协议 展B (“本登记声明”) 由特立软件股份有限公司，一家德拉华州股份公司 (以下简称为“本公司”) 提交，目的是为了注册其额外的7,184,563股A类普通股，每股面值$0.0001 (以下简称为“A类普通股”), 以及在特立软件股份有限公司 2022年股权激励计划下可发行股份的1,436,911股A类普通股，注(下文简称为“A类普通股”)。锁定协议，“协议”中指的是本修订协议。锁定协议”).

预计在此后的两个（2）个工作日内，持有足够公司股本股份的股东将签署并批准本协议和合并，如DGCL及公司章程和公司规则所要求，以书面同意书的形式执行和交付，以获得必要的公司股东表决。

同时与本协议的签署和交付，某些投资者已根据附件中附有的证券购买协议执行了协议 附件C。在本第2(e)规定适用的范围内，确定本认购证证券是否可行使（与持有人及其关联方及归属方拥有的其他证券有关）以及本认购证证券的哪部分可行使，包括发行交换认购证证券来代替认购证证券，应完全由持有人自行决定，并且行使通知书应视为持有人确定本认购证证券是否可行使（与持有人及其关联方及归属方拥有的其他证券有关），以及哪部分可行使，但仍应受到持有限制的约束，公司无需验证或确认此种决定的准确性。 父公司和其中列名的人之间（包括可能根据时间不断改编、重新规定和/或取代的人）之间的认购协议），根据该协议，这些人同意购买父公司普通股和预先拟定的权证，以购买父公司普通股，第二有效日期之后的金额，即“母公司融资”).

协议

各方有意具有法律约束力，同意如下：

第1节。定义和解释条款。

1.1          定义.

(a)根据本协议的目的（包括本第1节）：

“可接受的保密协议“”指包含的保密协议，其条款在总体上与交易对方的保密协议条款不具有实质性较少的限制，除非该保密协议不得包括任何停滞、禁止招揽或不得雇用条款。尽管前述规定，曾与母公司就潜在收购提议签订过在涵盖范围和披露和使用限制方面与保密协议相比不具有实质性较少限制的条款的个人，无需签订新的或修订后的保密协议，并且应视现有保密协议为可接受的保密协议。

“收购询问” 表示就一方而言，指询问、兴趣表达或请求非公开信息（不包括公司一方或母公司另一方向另一方提出的询问、兴趣表达或信息请求），该询问、兴趣表达或信息请求可以合理预计可能导致收购提议。

“收购提案对于某一方，""表示任何出价或提议，无论是书面还是口头的（不包括由公司或其关联公司代表或提交的出价或提议，一方面或由父公司或其关联公司代表或提交的出价或提议另一方面，与另一方有关或与该方进行任何收购交易。

“收购交易“ 表示任何交易或一系列相关交易（除了任何中期融资、任何公司收购或母公司融资）涉及：

(a) 任何合并、合并、合并、股份交换、业务组合、证券发行、证券收购、重组、资本重组、要约收购、交换要约或其他类似交易：(i) 在此交易中，直接或间接收购任何一方或其任何附属公司任何一类有表决权证券的证券所代表的超过该方或其任何附属公司已发行证券中超过20％的权益或股份; (ii) 在此交易中，任何一方或其任何附属公司发行的证券代表该方或其任何附属公司已发行证券中超过20％的任何一类有表决权证券的权益，或发行的证券可转换为该方或其任何附属公司已发行证券中超过20％的任何一类有表决权证券的权益;

(b) 任何业务或资产出售、租赁、交换、转让、许可、收购或处置，构成一方及其子公司资产的合并账面价值或公允市场价值的20％或更多，作为整体。

“附属公司“ 在《证券法》第145条下赋予该术语的含义。

“经济实惠医疗法案 ” 意味着患者保护和经济实惠医疗法案。

“预期截止日期 ”代表双方父公司和公司商定的预期截止日期。

“第十章 转让证券 第10.1节 交易 如果发行受托人证明，债券持有人可以交换并迅速交付发行受托人这样的证明，无论是有欠款未偿还，还是实质性周转的时候，都可以在世界范围范围内经由源和债券市场交易。” 表示任何纽约州银行有权或有义务关闭的非工作日。

“指定证书“” 意味着母公司可转换优先股的偏好、权利和限制指定证书 所附的表格如下所示 附件 E.

“ “COBRA”是1985年颁布的《综合预算协调法案》，载于法典第49800亿节和ERISA第I标题第6节。

“代码“”指1986年修订版的国内收入法规。

“公司关联人员” 指公司或其任何子公司的任何在职员工、独立承包商、高管或董事。

“公司董事会“董事会”是指公司的董事会。

“公司资本 股票”指公司普通股和公司优先股。

“公司资本化 陈述”表示公司在《 第3.6(a)节和 第3.6(d)节.

“公司普通股” 表示每股面值为$0.0001的公司普通股。

“公司合同“ 意味着任何合同：(a) 公司或其任何子公司是一方的合同，(b) 公司或其任何子公司是或可能成为约束方或者在公司或其子公司履行任何义务或可能成为受约束方的合同，或者(c) 公司或其任何子公司在其中具有或可能获得任何权利或利益的合同。

“公司员工计划”指的是公司或其任何子公司（i）赞助、维护、管理或贡献的任何员工计划，（ii）可以合理预期承担任何责任的计划，或（iii）用于为公司或其任何子公司（或其配偶、受抚养人或受益人）的当前或前任雇员、官员、董事或其他服务提供者提供福利或覆盖风险，但不包括公司或其任何子公司参与的由任何专业雇主组织赞助的任何员工计划。

“公司基本 陈述”表示公司在《 章节 ‎3.1(a), ‎3.2, ‎3.3, ‎3.4, ‎3.5(a)(i) 和 ‎3.20.

“ ” 指由公司或其子公司拥有、被声称拥有、被分配、被独家许可或被控制的所有知识产权权利，这些知识产权权利对于公司及其子公司目前开展业务所必需，或用于业务运营，或用于业务运营。

“公司知识产权协议“”指任何管理、涉及或与公司知识产权有关的合同，但不包括根据保密协议提供的任何机密信息。

“公司重要员工“ 意味着公司的任何执行官或其任何子公司的任何执行官。

“公司材料 不利影响“公司重大不利影响”指任何效应，结合发生在确定之日前的所有其他效应，对公司或其子公司的业务、财务状况、资产、负债或业务结果作为一个整体产生或合理预期将产生重大不利影响； 在每种情况下，该B类股东和/或该B类股东的家庭成员需独立控制在此类帐户、计划或信托中持有的B类普通股实时；, 公司对于以下情况，不应承担责任：根据第10（b）部分书面信息可靠地提供。对于决定是否发生公司重大不利影响，不应考虑以下效应：(a)本协议的公告或拟议交易的进行状态，(b)公司采取或未采取为遵守本协议条款而必须采取的任何行动，(c)任何自然灾害、灾害或流行病、大流行病或其他不可抗力事件，或任何恐怖主义或战争的行为或威胁，任何全球任何地方的武装冲突或恐怖主义活动(包括上述任何事件的升级或普遍恶化)，以及对上述任何事件的任何政府或其他响应或反应，(d)GAAP或适用法律或其解释的任何变化，(e)普通经济或政治状况或普遍影响公司及其子公司所在行业的条件或(f)由于在业务的正常经营过程中产生的公司及其子公司的现金头寸变化；除了在(c)、(d)和(e)各项，相对于公司及其子公司相对于在公司及其子公司所在行业中处于类似境遇的其它公司所产生的影响有明显不成正比之处，作为整体考虑。

“公司合并 股份”表示由确定的产品 乘以 （i）发帖收盘后的母公司股份数 （ii）公司分配比例，其中： 除（i）发帖收盘后的母公司股份数 （ii）公司分配比例，其中：

“公司备忘录“”指的是公司于2024年10月24日前后发行的可转换票据，包括其中规定的第二笔款项。

“公司期权” 表示购买公司发行的公司股票的期权或其他购买权。

“首选股“”代表公司资本股中指定为优先股的股份，包括公司种子优先股。

“公司注册 知识产权“公司注册”表示公司所有或独家许可的公司知识产权，经政府机关授权、审批或颁发的注册、备案或发行，包括所有专利、注册版权和注册商标以及所有前述任何内容的申请和注册。

“公司系列种子 优先股”表示公司指定为“种子优先股”的一系列首选股，每股面值为$0.0001。

“公司股票计划“ 意味着公司的2024年股权激励计划。

“公司触发事件如果在本协议通过并获得所需公司股东投票批准之前的任何时候发生以下情况，则应视为已发生：“公司董事会已做出公司董事会不利建议更改；(b) 公司董事会或其任何委员会已公开批准、支持或推荐任何收购提议；或(c) 公司已签署任何意向书或类似文件或与任何收购提议相关的任何合同。

“公司认股权证“ 意指公司发行的可购买公司股票的认股权证。

“保密协议“”指的是2024年9月17日公司与母公司之间签订的信函协议。

“同意“ 表示任何批准、同意、批准、许可、放弃或授权（包括任何政府授权）。

“拟议的交易” 表示本协议所 contempl.Point 和其他交易（除了母公司宪章修正案外），母公司融资和纳斯达克逆向拆分（在适用和母公司及公司认为必要的范围内）。

“合同“对于任何个人而言，”通常指的是任何书面协议、合同、分包合同、租赁协议（无论是用于不动产还是动产）、抵押贷款、许可证或其他根据适用法律对其构成约束或影响的具有法律约束力的承诺或行为。

“特拉华州公司法“”是特拉华州公司法。

“DLLCA” 意指特拉华有限责任公司法。

“投票“弃权”的效果“ 意味着任何影响、变化、事件、情况或发展。

“员工计划"意味着（A）根据ERISA第3(3)条的“员工福利计划”，无论是否受ERISA约束；（B）其他计划、项目、政策或安排，提供股票期权、股票购买、基于股权的薪酬、奖金（包括任何年度奖金和保留奖金）或其他激励、离职费、延期薪酬、雇佣、薪酬、交易变更奖金、补充、休假、退休福利（包括退休后的医疗福利）、养老金福利、利润分享福利、边际福利、人身保险福利、津贴、健康福利、医疗福利、牙科福利、视力福利以及所有其他员工福利计划、协议和安排，不属于（A）以上；和（C）提供报酬给员工、顾问和非雇员董事的所有其他计划、项目、政策或安排。

“负担“质押”的含义是任何抵押、质押、抵押、抵押、担保权益、租赁权、独家许可、选择权、权力、预留、 服务权、不动产权益、权利、侵权、干涉、选择权、优先购买权、社区财产权益或限制或任何性质的负担（包括对任何 证券的投票限制、对任何证券或其他资产的转让限制、对任何资产所得收入的收取限制、对任何资产使用的限制以 及对任何其他资产所有权属性的占有、行使或转让的任何限制）。

“可执行性例外 “”表示（a）有关破产、清偿债务及债务人救济的普遍适用法律和 （b）规定具体履行、禁止令和其他衡平救济的法律规则。

“实体“ 意味着任何公司（包括任何非营利公司）、合伙企业（包括任何普通合伙、有限合伙或有限责任合伙）、合资企业、遗产、信托、公司（包括任何有限公司、有限责任公司或股份有限公司）、公司、协会或其他企业、协会、组织或实体，以及其各自的继承人。

“环境法” 指任何与污染或保护盈健医疗或环保母基（包括环境空气、地表水、地下水、地表或地下地层）有关的联邦、州、地方或外国法律，包括任何与危险物质的排放、排放、释放或受威胁的释放，或与危险物质的制造、加工、分销、使用、处理、储存、处置、运输或处理有关的法律或法规。

“ERISA会员公司对于任何实体，"其他" 意味着任何被视为与该实体构成单一雇主或在法规414(b)、(c)、(m) 或 (o) 下被视为同一"受控组" 的其他人。

“ERISA “ERISA”的意思是1974年修订的雇员退休收入安全法案。

“使拥有公司注册证券类别10%以上股权的官员、董事或实际股东代表签署人递交表格3、4和5（包括修正版及有关联合递交协议）,符合证券交易法案第16(a)条及其下属规则规定的要求；表示1934年修订版的证券交易法。

“第一并购子公司 董事会” 意指第一并购子公司的董事会。

“政府机构“ 意味着任何：(a) 国家、州、联邦、地区、县、市、区或其他性质的司法管辖区， (b) 联邦、州、地方、市政、外国、超国家或其他政府，(c) 任何性质的政府或准政府权力 (包括任何政府部门、部门、机构、委员会、局、机构、官员、部、基金、 基金会、中心、组织、单位、主体或实体和任何法院或其他法庭，为避免疑问， 任何征税权威) or (d) 自律组织(包括纳斯达克)。

“政府授权“ 代表任何：（a）由任何政府机构授权或根据任何法律颁发、授予、证书、特许经营权、许可证、特许证、权限、变数、豁免、订单、批准、许可、清关、注册、资格或授权，或以其他方式由其发放、授予、给予或提供; 或（b）根据与任何政府机构订立的任何合同中的权利。

“危险物质” 意指任何受环保母基管制、控制或整治的污染物、化学物质和任何具有毒性、传染性、致癌性、活性、腐蚀性、易燃或可燃性的化学物质，或化合物，或危险物质、物料或废物，无论是固体、液体还是燃料币，包括但不限于原油或其任何馏分，以及石油股产品或副产品。

“HSR法案“ 代表1976年修订后的美国哈特-斯科特-罗迪诺反垄断改进法案。

“已实现盈利期权”表示行权价等于或低于母公司收盘价的母公司期权。

“知识产权“ 表示：(a)美国、外国和国际专利，专利申请，包括所有临时，非临时，替换，分部，延续，部分延续，再发行，延伸，补充保护证书，复审，期限延长，发明证书及前述任何等效物，法定发明注册，发明披露和发明（统称为“所有板块”，(b)商标，服务标记，商号，域名，公司名称，品牌名称，URL，商业装潢，标志和其他来源标识，包括注册和注册申请及相关的商誉，(c)版权，包括其注册和注册申请，(d)软件，包括所有源代码，目标代码和相关文档，(e)公式，客户列表，商业秘密，技术诀窍，机密信息和其他专有权利和知识产权，无论是否可以获得专利，以及与前述任何事项相关的所有美国和外国权利。专利”），(b)商标，服务标记，商号，域名，公司名称，品牌名称，URL，商业装潢，标志和其他来源标识，包括注册和其注册申请及相关商誉，(c)版权，包括其注册和注册申请，(d)软件，包括所有源代码，目标代码和相关文档，(e)公式，客户列表，商业秘密，专有技术，机密信息和其他专有权利和知识产权，无论是否可以获得专利，及(f)所有与上述任何事项相关的所有美国和外国权利。

“临时融资“ 指公司自本文件日期后完成的任何普通股或优先股（视情况而定）的销售（或一系列相关销售）； 不过 公司票据的发行和母公司融资不构成临时融资.

“美国国家税务局（“IRS”）” 表示美国国内税务局。

“知识” 表示，（i）对于个人，指个人实际知晓相关事实或该个人在履行就业职责的日常工作过程中应该合理地知晓该事实；（ii）对于作为实体的任何人，自该知识被推定的日期以来，该人的任何执行官都有知识。 对于知识产权相关事项，此意识或合理预期知晓的要求并不需要任何个人进行或已经进行或获得或已获得律师意见的自由操作意见或任何知识产权清理搜索。

“法律” 表示任何政府机构（包括纳斯达克或金融行业法规机构）的权威发布、颁布、采纳、颁布、实施或由其授权发布、颁布、采纳、颁布、规定、条例、法令、法规、裁决或要求的任何联邦、州、国家、超国家、外国、地方或市政法律、法令、宪法、普通法原则、决议、法令、法典、敕令、规则、规定、裁决或规定。

“法律诉讼” 意味着任何由法院或其他政府机构或任何仲裁员或仲裁小组启动、提起、进行或听取的任何诉讼、仲裁、诉讼、仲裁、程序（包括任何民事、刑事、行政、调查或上诉 程序）、听证会、调查、审计、检查或调查。

“最低同时投资金额”表示（i）$100,000,000 减去 （ii）交易完成前与公司有关的任何中期融资实际收到的款项金额。

“多雇主计划 ” 表示《雇主退休收入安全法》第3(37)或4001(a)(3)节中定义的“多雇主计划”。

“多雇主计划”表示《税收法》第413(c)条或《雇员退休保障法》第3(40)条所述的“多雇主计划”。

“多雇主 福利安排”表示根据ERISA第3(40)条规定的“多雇主福利安排”

“纳斯达克逆向拆股“”代表父公司为了符合纳斯达克上市标准而进行的所有流通普通股的逆向拆分。

“纳斯达克资本市场”代表纳斯达克股票市场。

“命令“ 意味着任何判决、命令、书面命令、禁令、裁定、决定或法令（适用于一方）；或者任何关于任何法院或政府机构的辩诉协议、企业廉正协议、解决协议或延期起诉协议，或在其管辖范围内达成的任何和解协议。

“业务的常规操作“在公司和母公司的情况下，指的是按照其业务的常规操作，并与其过去的惯例一致，或者对于公司而言，按照类似发展阶段最近成立公司的惯例操作。

“组织文件对于任何人（除个人外），"收据" 意指： （a）该人员的证书或章程或组织或有限合伙或有限责任公司，以及任何合资企业、有限责任公司、运营或合伙协议以及在创建、组建或设立该人员时采用或提交的其他类似文件； （b）所有章程、规章和类似文件或协议，涉及该人员的组织或治理，均作为修订或补充。

“虚值 基础期权“”表示行权价高于母公司收盘价格的母公司期权。

“家长关联人” 指Parent或其任何子公司的任何现任雇员、独立承包商、高管或董事。

“母公司资产负债表”表示截至2023年12月31日的母公司经审计的资产负债表，包括在母公司提交给美国证券交易委员会的截至2023年12月31日的年度报告Form 10-K中。

“母公司董事会” 代表母公司的董事会。

“母公司股本 股票” 意味着母公司普通股和母公司优先股。

“母公司资本化 陈述”表示母公司和合并子公司在 第4.6(a)节和 第4.6(d)节.

“母公司收盘价格“”指的是纳斯达克上母公司普通股五（5）个相继交易日收盘前三（3）个交易日的成交量加权平均收盘交易价格，由彭博社报告。

“母公司普通股” 指的是母公司的普通股，每股面值为$0.001。

“母公司合同“ 意指任何合同： (a) 其中父母是一方， (b) 使父母或任何父母IP权利或父母的任何其他资产 受拘束或可能受拘束或受任何义务或公司（c）公司或可能受拘束公司获得任何权利或利益。

“母公司可转换优先股“”表示母公司的非表决可转换优先股，每股面值为$0.001，具有在指定的指定书中规定的权利、偏好、权力和特权。

“母公司员工计划”表示母公司或其任何子公司（i）赞助、维护、管理或投入资金的任何员工计划，（ii）可以合理地预期产生任何责任，或（iii）用于为母公司或其任何子公司（或其配偶、受抚养者或受益人）的现任或前任员工、官员、董事或其他服务提供者提供福利或其他保障的计划，但不包括任何母公司或其任何子公司参加的、由任何专业雇主组织赞助的员工计划。

“家长 基本表现”表示母公司和合并子公司在 第4.1(a)节, ‎4.2, ‎4.3, ‎4.4, 4.5(a)(i) 和 ‎4.21.

“父母知识产权协议 协议”表示任何管理、关联或涉及父母知识产权的合同。

““Parent IP Rights”指的是父公司拥有、许可或控制的所有知识产权，这些知识产权对父公司的业务的运营是必要的、被使用或保留以供使用。“means 父公司拥有、许可或控制的所有知识产权，其中必要的知识产权，或用于经营父公司业务的知识产权或为此而持有的知识产权。

“父公司关键员工” 指（i）母公司的执行官员；和（ii）直接向母公司董事会或母公司执行官汇报的任何母公司雇员。

“原材料 不利影响“所述”表示任何效果，将与发生在确定母公司重大资产负面影响发生日期之前的所有其他效果一起考虑，已经或理应对母公司及其子公司的业务、财务状况、资产、负债或经营业绩作出实质上不利的影响； 在每种情况下，该B类股东和/或该B类股东的家庭成员需独立控制在此类帐户、计划或信托中持有的B类普通股实时；, 公司对于以下情况，不应承担责任：根据第10（b）部分书面信息可靠地提供。以下效果产生的父母公司重大资产不良影响不应纳入检验范围：(a) 本协议的公告或拟议交易的悬而未决， (b) 母公司普通股的股价或交易量的任何变化（但应理解的是，任何导致母公司普通股股价或交易量变化的效果可在决定母公司重大资产不良影响是否已经发生时计算在内，除非这些效果在本定义范围之外），(c) 母公司采取或未能采取的任何行动，以便遵守本协议条款，(d) 任何自然灾害、灾祸、流行病、大流行病或其他不可抗力事件，或全球任何地方的恐怖主义或战争行为、任何武装冲突或恐怖主义活动（包括任何上述行为的升级或普遍恶化），或任何政府或其他机构对上述任何行为的回应或反应，(e) 对公司会计原则或适用法律或其解释的任何变化，(f) 一般经济或政治条件，或一般影响母公司或其子公司所处行业的条件，(g) 未能达到或维持母公司净现金的任何最低水平，(h) 证券交易委员会关于母公司根据交易所法案的报告状态的任何决定，或 (i) 源自母公司 Uproleselan (GMI-1271) 项目的临床前试验、临床试验和/或测试的结果、结论、数据、指标、不利事件、副作用或安全观察，包括进行进一步临床研究或测试的任何要求或任何先前确认的副作用、不良事件、临床观察或报告发生的副作用、不良事件、安全观察的发生率或严重程度增加或有关任何新副作用、不良事件或安全观察的公开声明；除了，在情况(d)、(e) 和(f)下，如果相对于母公司或其子公司的整体状况影响程度显著且不成比例于母公司或其子公司所处行业中其他类似公司，则不考虑。尽管如上，母公司普通股在纳斯达克上市下市将构成母公司重大资产不良影响，前提是公司未拒绝或不合理延迟同意母公司采取合理行动以维持母公司普通股在纳斯达克的上市。

“家长净现金” 指不重复的意思，(i) 母公司确定的无限制现金和现金等价物以及有价证券 符合公认会计原则的范围，其方式与历史上确定此类项目的方式一致，并符合 并在母证券交易委员会文件中包含或以引用方式纳入财务报表（包括任何相关附注）以及 母公司资产负债表， 加 (ii) 上列出的所有预付费用 第 1.1 (a) 节家长披露信息 信， 减去 (iii) 母公司合并的短期和长期合同义务和负债总额 在截止日期累计，在每种情况下均根据公认会计原则确定，在符合公认会计原则的范围内，以某种方式确定 符合历史上确定此类项目的方式，也符合财务报表（包括 任何相关票据）包含或以引用方式纳入母公司证券交易委员会文件和母公司资产负债表中， 减去 (iv) 父母在首次生效之前产生的所有费用和开支的总金额（不含重复） 与预期交易的关联，不包括任何母公司净现金不包括的支出，但包括（在不包括母公司的范围内） 净现金（不包括费用）：（a）法律顾问，会计师，财务顾问，投资银行家，经纪人的任何费用和开支， 母公司与预期交易相关的顾问、税务顾问和其他专业顾问；(b) 50% 向美国证券交易委员会支付的与向美国证券交易委员会提交委托书及其任何修正和补充相关的费用；(c) 50% 与印刷、邮寄和分发委托书以及任何修订和补充相关的费用和开支 其中；(d) 纳斯达克费用的50％；（e）任何奖金、留用金、遣散费、控制权变更补助金或类似款项 债务（包括在交易完成时和交易完成时触发的 “单一触发” 条款的付款） （特此设想）与完成相关的任何董事、高级职员、雇员或顾问的到期或应付款 预期交易的内容，以及与之相关的任何工资税；(f) 与获得交易相关的成本 根据的 “D&O 尾部政策” 第‎6 .7 节 在每种情况下，以第一次生效之日起未付的数额为限 时间；以及 (g) 为避免疑问，收盘时任何母公司净现金不包括支出的实际金额的金额 超过了家长披露信附表1.1（b）中规定的估计， 减去 (v) 所有剩余租金 母公司租赁义务下的付款和任何其他负债， 减去 (vi) 母公司的任何未缴税款以及 截至截止日期或之前的纳税期（或部分纳税期）的子公司，以及 加 (vii) 300,000 美元 2025 年 6 月 30 日之后延迟收盘的每个月或其中的一部分（除非此类延迟主要是由于 根据母公司的行动），该金额应从2025年7月1日开始累计（例如，如果收盘时间推迟到（A）7月31日， 2025 年由于此类故障，母公司净现金将增加 300,000 美元，或者 (B) 因此在 2025 年 8 月 30 日增加 失败，则60万美元将添加到母公司净现金中）； 但是, 前提是, 如果所描述的费用和开支的任何部分 在第 (iv) 款 (b)、(c) 和 (d) 项中，父母已在首次生效之前以更高的金额支付了第 (iv) 款 超过父母在 (b)、(c) 和 (d) 小节中描述的此类费用和开支中所占的份额，然后 (x) 超过该部分的金额 不得以小节为由扣除 (b)、(c) 和 (d) 小节所述的此类费用和开支中父母应分的份额 第 (v) 和 (y) 条的 (b)、(c) 和 (d) 这些部分应添加到母公司净现金的计算中。为了避免 不容置疑，(i) 母公司融资中收到的现金将不计入母公司净现金的计算；(ii) 计算母公司净现金可能得出低于0美元的数字。

“上级公司净现金 不包括费用“”表示母公司在首次生效日期之前因涉及 所规定的筹划事项而发生的费用和支出 第1.1(b)节母公司披露函的第 一段将包括 对关闭之前母公司净现金不包括费用的描述和善意估计。

“父母期权” 表示父公司授予的购买母公司普通股期权或其他购买权利，包括根据任何父公司股票计划而授予的。

“母公司优先股”表示母公司普通股中指定为优先股的股份，每股面值为$0.001， 包括母公司可转换优先股。

“注册家长IP“”指的是所有由父公司拥有或独家许可，在任何政府机构的授权下注册、备案或颁发的所有家长IP权利，包括所有专利、注册版权和注册商标，以及所有上述权利的申请。

“父母限制性 股票单位” 表示任何与父公司普通股有关的权益奖励，代表 未来拥有父公司普通股的权利，根据任何父公司股票计划。

“父母触发 事件在父母公司股东批准本协议和拟议交易之前，如果发生”，则视为已发生 第6.3(c)节：(a) 父母未在代理声明中包含父母董事会推荐，(b) 父母董事会或其任何委员会已作出父母董事会不利推荐变更或受第6.3(e)节限制 第6.3(e)节，公开提议、支持或推荐任何收购提案或(c) 父母与任何收购提案有关的任何意向书或类似文件或任何合同（除接受的根据第5.4节允许的可接受的保密协议之外） 第5.4节).

“方”或“当事人“”指的是公司、合并子公司和母公司。

“允许的备选方案 协议”表示具有关于构成更有利报价的收购交易的明确协议或其他相关协议。

“允许的抵押权” 意味着（a）尚未到期和应支付的当前税收的任何法定留置权，或者正在通过适当程序进行善意争议的税款，且根据美国通用会计准则（GAAP）在公司财务报表或母公司资产负债表（如适用）中将会或已经做出充分准备或预留；（b）在日常业务中产生的次要非货币形式的留置权，不会（在任何情况下或总体上）明显减少资产的价值或严重损害公司或母公司的运营；（c）用于保障债务人对房东、出租人或租赁协议项下租约或租赁协议的留置权；（d）与工伤保险、失业保险或法律规定的类似计划有关的存款或质押；（e）为保障运输商、仓库管理人员、机械师和材料供应商权利的法定留置权，保障尚未到期和应支付的劳务、材料或供应费用；以及（f）依适用证券法律规定产生的留置权。

“持有” 表示任何个人、实体或政府当局。

“个人信息“”表示任何组成“个人信息”、“个人数据”、“可识别个人信息”、“受保护健康信息”或适用法律下类似术语的任何数据或信息，包括任何此类信息识别、涉及、描述、与之关联、能够合理与之关联或可能与之连接的，直接或间接地，与任何确定或可识别的个人或家庭有关。

“隐私法律” 指的是集体（i）所有管理隐私、数据保护、数据安全、跨境数据流动、数据丢失、数据盗窃、数据泄露通知、数据本地化、发送有求或无求的电子邮件或短信、Cookies或其他跟踪技术，以及个人信息的收集、处理、使用、维护、存储、披露、传输或其他处理的所有法律规范，包括监管机构发布的具有约束力的法规和包含同意命令的协议，如美国联邦贸易委员会、美国联邦通信委员会或州数据保护部门发布的HIPAA、联邦贸易委员会法案第5节、控制非请求色情和市场法案、电话消费者保护法以及美国州消费者保护和数据泄漏通知法律，以及（ii）任何自我监管组织约束数据隐私、数据保护、数据安全、跨境数据流动、数据丢失、数据盗窃、数据泄露通知、数据本地化、发送有求或无求的电子邮件或短信、Cookies或其他跟踪技术，以及个人信息的收集、处理、使用、维护、存储、披露、传输或其他处理的任何具有法律约束力的要求，包括支付卡行业数据安全标准。

“代表” 表示对于一个人，这个人的董事、高级职员、雇员、代理人、律师、会计师、投资银行家、顾问和其他代表。

“2002年的萨班斯-奥克斯利法“”表示2002年的萨班斯-豪利法案。

“SEC” 表示美国证券交易所。

“证券法“证券法”是1933年颁布的《证券法》的修改版。

“后续交易” 意味着任何收购交易（在收购交易定义中所有对20%的引用被视为对这些目的的50%的引用）。

““财政部条例”是指根据《税收法典》颁布的所有拟议、临时和最终条例，这些条例可能会不时修订（包括后续条例的相应规定）。” 意味着，对于一个实体而言，如果这个人直接或间接拥有或据称拥有对该实体具有足够权利选举至少其中大部分董事会成员的投票证券或其他权益，或者至少拥有该实体所有已发行股权、投票权、受益权或财务利益的50%以上。

“优越报价” 指的是一项未经请求的真实书面收购提议（在收购交易定义的20%中的所有参考均视为指向50%，在这些情况下）：（a）不是直接或间接违反本协议的结果获得或制订；（b）所涉及的条款和条件由母公司董事会或公司董事会根据其认为相关（包括完成可能性和融资条件等）的事项诚信确定，并对本协议的另一方提出修改本协议条款的任何书面提议进行咨询，并在咨询其外部法律顾问和财务顾问（如有的话）后，从财务角度看，更有利于母公司股东或公司股东的条款与思考交易条款相比，（c）不受任何融资条件的约束（如果需要融资，则该融资已完全承诺给第三方），以及（d）能够合理地按照提议的条件完成。

“纳税申报“申报”指提交给任何政府主体（或提供给任何支付对象）的任何回报（包括任何信息回报）、报告、声明、索赔或退款、估算、时刻表、通知、表格、选举、证明或其他文件或信息，以及对前述任何文件的任何修订或补充，与税务的确定、评估、征收或缴纳以及与任何涉及税务的法律的执行、实施或强制执行或遵守有关的法律的管理有关。

“税务” 代表任何美国联邦、州、地方、外国或其他税，包括任何所得税、特许税、资本利得税、毛收入税、增值税、附加税、预估税、就业税、失业税、国民健康保险税、环保税、消费税、从价税、转让税、过户税、契据税、印花税、销售税、使用税、财产税、营业税、代扣代缴税、社会保障税、关税、执照税、替代或附加最低税额或其他税或类似费用、税务、关税、征费、关税、课征额、税款，税务官方征收的罚款、处罚、税款增加、对其征收的利息或额外金额（或因未支付而归属）。

“计划应由委员会管理，该委员会应由董事会根据情况确定的一个或多个董事组成。“美国财政部根据法典颁布的规定。”

(b) 以下术语在相应段落中的定义如下所示：

1.2            其他 定义和解释性规定在本协议中使用的“本协议”，“本协议中”，“本协议下”及类似含义的词语将指代整个协议而非特定条款。 本协议中的标题仅供参考便利，不影响本协议的解释和理解。 本协议中对“章节”、“附件”和“附表”的引用均指本协议的章节、附件和附表，除非另有规定。 任何附件或附表中使用的大写词汇但未在其中另行定义的，应当按照本协议中的定义解释。本协议中任何单数词汇均被视为包括复数形式，任何复数词汇均被视为包括单数形式，男性性别包括女性和中性性别，女性性别包括男性和中性性别，中性性别包括男性和女性性别。每当本协议中使用“包括”、“包含”或“包含”的词语时，应当被视为后面跟随“不限于”这几个词，无论实际上是否跟随这些词或类似含义的词。单词“或”的使用不具排他性。‘书面’、‘书面的’及类似词指印刷、打字和其他方式以可见形式复制单词（包括电子媒体）。对于任何协议或合同的引用（除了父公司披露信函或公司披露信函中列出的协议或合同的引用），指的是按照本协议的条款和该协议自时间至时间经过修改、修订或补充的协议或合同。本协议的附件、父公司披露信函和公司披露信函是本协议解释的组成部分，但只有附件 D-1（包括该附件的附件 A）和附件 D-2被引用并作为第 251 条对 DGCL 的目的之一的一部分纳入。对任何个人的引用包括其继承人和被许可的受让方。对任何法规的引用包括该法规及其根据该法规制定的规则和规定，均按照经过修订、修改、重新颁布、替换的方式进行，从时间至时间。对于“$”和“美元”的引用指的是美元货币。本协议中使用的所有会计术语将按照通常会计原则（GAAP）解释，除非另有明确规定。从或通过任何日期的引用意味着除非另有规定，从该日期和包括该日期或截止于该日期和包括该日期。所有对“天”的引用均指日历天，除非另有指示为“工作日”。除非另有具体说明，为了测量本协议中时间段的开始和结束（包括“工作日”和每日或工作日中的小时数计算），事件或时间的开始或结束所发生的时间将被视为美国东部时区发生的时间。各方一致同意，不适用任何解释规则使模糊不明确的对草拟方有利的情况，在本协议的解释和理解中。各方同意公司披露信函或父公司披露信函将按照编号和字母标注的部分和子部分排列。 第3部分或。第4节分别。公司披露函或母公司披露函的任何部分或子部分中披露的内容应视为对其他部分和子部分具有资格。第3部分或。第4节，在披露的阅读中明显可看出此类披露适用于其他部分和子部分。"交付"或"提供"一词意味着，就任何文件而言，在本协议日期前一天下午5:00（纽约时间）之前，这样的文件副本已（a）由一方发布并持续向另一方及其代表提供，放置在由披露方维护的电子数据室中，用于拟议交易目的，或（b）由一方或其代表或代表的代表在本协议执行前通过电子邮件或纸质形式交付给另一方或其代表。 “发起方股东协议”。

第2部分。交易描述.

2.1            合并根据本协议规定的条款和条件，在第一生效时间，第一合并子公司将与公司合并，第一合并子公司的独立存在将终止。公司将继续作为第一合并中的存续公司（“第一步存续公司”根据本协议规定的条款和条件，在第二生效时间，第一步存续公司将与第二合并子公司合并，第一步存续公司的独立存在将终止。作为第二合并的结果，第二合并子公司将继续作为第二合并中的存续实体（“存续实体”).

2.2            合并的影响第一次合并应具有本协议及DGCL适用条款中规定的效力。 作为第一次合并的结果，公司将成为母公司的全资子公司。第二次合并应具有本协议及DGCL和DLLCA适用条款中规定的效力。

2.3            结束； 第一个生效时间；第二个生效时间。除非根据协议的规定提前终止 第十节， 并且需满足或豁免所列条件 第七节, 第8节和页面。第9节, the consummation of the Merger (the “结盘”) shall take place remotely, as promptly as practicable (but in no event later than the second Business Day following the satisfaction or waiver of the last to be satisfied or waived of the conditions set forth in ‎6.19, 第8节和页面。第9节, other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of each of such conditions), or at such other time, date and place as Parent and the Company may mutually agree in writing. The date on which the Closing actually takes place is referred to as the “交割日期在收盘日期之前的立即前，母公司应在特拉华州国务卿办公室注册该指定证书。在收盘时，（i）各方应通过签署并向特拉华州国务卿办公室提交一份有关合并的合并证书，满足DGCL的适用要求，并以附件中所述的形式和实质进行， 附件 D-1 并纳入本合同的（“首次合并证书”）和（ii）各方应通过签署并向特拉华州国务卿办公室提交有关第二次合并的合并证书，满足DGCL和DLLCA的适用要求，并以附件中所述的形式和实质进行， 附件 D-2并纳入本合同的（“第二份合并证书与首次合并证书一起，本证书将生效合并证书首次合并应在与特许部门和公司一起在Delaware州国务卿处提交该合并证书时生效，或者在该合并证书中指定的较晚时间生效（作为合并生效的时间，被称为“First Effective Time第二次合并应在与特许部门和公司一起在Delaware州国务卿处提交第二份合并证书时生效，或者在该第二份合并证书中指定的较晚时间生效（作为第二次合并生效的时间，被称为“第二 生效时间”).

2.4            组织文件; 董事和高级管理人员.

(a)            在第一个有效时间：

(i)First Step Surviving Corporation的公司注册证书将在合并中被修改和重述，以按照第一合并证书的A表所示的内容进行，之后将根据DGCL和公司注册证书进行修订。

(ii)第一步生存有限公司的章程应与公司在第一有效时间之前立即生效的章程相同，直至根据DGCL和该章程随后进行修改为止；并

(iii)First Step Surviving Corporation的董事和高管，每位持有办公室符合 First Step Surviving Corporation 的公司章程和公司规定，应为公司在第一个生效时间之前指定的人员。

(b)在第二有效时间：

(i)            存续实体的组织文件应为第二合并子公司的组织文件，即在第二生效时间之前即时生效的组织文件，直至之后按照特拉华公司有限责任公司法(DLLCA)和该组织文件进行修改；但是，在第二生效时间(作为第二合并证书的一部分)时，应修改组织文件以(A)将存续实体的名称更改为“新月生物制药营运公司，有限责任公司”，(B)经双方父公司和公司协商一致的其他变更。

(ii)存续实体的有限责任公司协议应该被完全修改和重述，以与二次合并子公司的有限责任公司协议完全一致，该协议在第二生效时间之前有效，然后按照DLLCA和该有限责任公司协议的规定修改；但是，第二生效时间之后（但尽快），有限责任公司协议将被修改为将存续实体的名称更改为“Crescent Biopharma Operating Company，LLC”。

(iii)          父公司的公司成立证书应与第二有效时间前的父公司公司成立证书相同，此后按照DGCL和该公司成立证书的规定进行修订； 在每种情况下，该B类股东和/或该B类股东的家庭成员需独立控制在此类帐户、计划或信托中持有的B类普通股实时；, 公司对于以下情况，不应承担责任：根据第10（b）部分书面信息可靠地提供。， 在第二有效时间时，父公司应就其公司成立证书提交修订，以(i) 将父公司的名称更改为“新月生物医药股份有限公司”，(ii) 进行纳斯达克逆向拆股（如适用且必要）， (iii) 增加父公司授权发行的股票数量，该数量应在父公司和公司之间达成一致，足以完成拟议的交易，(iv) 将父公司纳税地从特拉华州重新设立到由公司确定的司法管辖区（即开曼群岛或百慕大），以及(v) 进行 父公司和公司都同意的其他更改（此修订，称为“家长宪章修正案”);

(iv)Parent的董事和高管，每人都将根据Parent的公司章程和公司规定担任职务，如下所述 章节 ‎6.12；以及帮助孩子们跟踪他们夏季口腔卫生习惯的材料。

(v)存续实体的董事和高管，每人应按照第二合并方的组织成立证书和有限责任公司协议的规定担任职务章节 ‎6.12在生效后实施规定后章节 ‎6.12或者由母公司和公司相互同意的其他人员

2.5            公司、第一并购子公司和第二并购子公司股权证券转换.

(a)在首次生效时间，根据合并，无需家长公司、合并附属公司、公司或任何公司或家长公司股东采取进一步行动：

(i)            所有在首次生效时间之前作为公司资本股票持有的库藏股将被取消和注销，并将不复存在，不交付任何对价；并

(ii)          主题 对 章节 ‎2.5(c)，（A）在第一个有效时间前即时发行的每股公司普通股（不包括根据2.5(a)(i) 取消的公司股票，也不包括持异议的股份）将仅转换为获得家长公司普通股数量的权利等于 交易比率，以及（B）在第一个有效时间前即时发行的每股公司优先股（不包括 根据 章节 ‎ 和 排除要取消的公司资本股的股份) 章节 ‎2.5(a)(i)并且不包括异议股份）应当被转换为仅有权收取一定数量的母公司可转换优先股，数量等于（x）交换率 除 （y）1,000（统称为“合并考虑”).

(b)如果第一生效时间之前公司资本股中的任何股份尚未获得授予或者受限制的回购选择权或风险，在任何适用的受限制股票购买协议或其他类似协议下，则以交换而来的父公司资本股将同样尚未获得授予并受到同等回购选择权或风险的限制，并相应地标注适当的标签。公司将采取一切必要行动，以确保在第一生效时间之后，父公司有权行使任何此类回购选择权或其他在任何此类受限制股票购买协议或其他协议中规定的权利。

(c)在合并过程中，不会发行任何母公司股票的碎股，也不会发行任何此类碎股的证书或收据。任何本公司普通股持有人如果本应获得母公司普通股的部分股份（按证书计算），将获得由母公司提供的一份母公司普通股，而不是该碎股，并在按照交接信与任何相关文件的规定交出交接信时交付。 章节 ‎2.7 和其中要求的任何附随文件： (i) 如果本公司普通股持有人应获得的母公司普通股的碎股金额等于或超过0.50，则获得一份母公司普通股；或(ii) 如果本公司普通股持有人应获得的母公司普通股的碎股金额少于0.50，则不获得任何母公司普通股，对于通过此类四舍五入消除的任何碎股不支付任何现金。任何本公司优先股持有人本应获得的母公司优先股的碎股将与向该等人应发行的所有母公司优先股碎股相加，其余的碎股将在按照和其中要求的任何附随文件的规定交出交接信时四舍五入至母公司优先股的最接近整数股。 章节 ‎2.7 和其中要求的任何附随文件： 将本公司优先股持有人本应获得的任何母公司优先股的碎股与向该等人应发行的所有母公司优先股碎股相加，其余的碎股将在按照和其中要求的任何附随文件的规定交出交接信时四舍五入至母公司优先股的最接近整数股。

(d)所有板块 在首个生效时间之前尚未到期的所有公司期权（包括任何服务提供商授予的期权）应按照 章节 ‎6.5(a)所有板块 在首个生效时间之前尚未到期的所有公司warrants应按照章节 ‎6.5(b).

(e)每一股普通股，每股面值$0.001，由第一合并子公司在第一有效时间前发行并持续存在的股份都将转换为一股经有效发行、全额支付和免予清偿的第一步存续公司每股面值$0.001的普通股。第一合并子公司的账簿录入股份证明对任何此类股份的所有权，在第一有效时间生效时，将证明对第一步存续公司的此类普通股的所有权。

(f)如果在本协议日期和首次生效时间之间，由于任何股息、细分、重新分类、资本重组、拆分（包括纳斯达克倒转拆分，只要这种拆分在计算交换比率时尚未被考虑在内）、股份合并或股份交换或其他类似变更，而导致已发行的公司资本股票或母公司资本股票变更为不同数量的股份或不同类别的股份，交换比率应相应进行公允调整，以反映此类变更的必要程度，以便为公司资本股票、公司期权、公司认股权证及母公司资本股票持有人提供与本协议所预期的同样的经济效果，以前述股息、细分、重新分类、资本重组、拆分、股份合并或股份交换或其他类似变更之前。 在每种情况下，该B类股东和/或该B类股东的家庭成员需独立控制在此类帐户、计划或信托中持有的B类普通股实时；, 公司对于以下情况，不应承担责任：根据第10（b）部分书面信息可靠地提供。，但本文中的任何内容均不得解释为允许公司或母公司分别采取任何未经本协议明文允许或禁止的与公司资本股票或母公司资本股票有关的任何行动。

(g)在第二次生效时间，凭借第二次合并，在母公司未采取任何行动的情况下，第一步存续公司、第二次合并子公司或其各自的股东，在第二次生效时间前已发行并持有的每股第一步存续公司股份将被取消和注销，而不会转换为任何其他物品，也不会就此进行任何支付或分配。

2.6            公司转让股份登记簿的关闭在首个生效时间：(a) 所有公司股本即刻前的未发行股份应按照要求处理 第2.5(a)条所有持有公司股本的证书无权作为公司股东，公司的股票转仓簿应关闭，关于所有即刻前的未发行公司股本。首个生效时间后，不得在该股票转仓簿上再进行任何未发行公司股本的转让。

2.7            公司股本的让渡.

(a)在结束日期前，母公司和公司应共同选择一家信誉良好的银行，过户代理或信托公司，以充当并购交易所代理（“交易所代理”）。在第一有效时间，母公司应向交易所代理存入代表依照 章节 ‎2.5(a)而发行给公司资本股的股份的电子持股证明。

(b)第一有效时间后，双方应促使交易所代理给将公司股份转换为收到合并议价权利的股东邮寄以下文件：(i) 一份按照惯例形式并包含股东大可合理规定之条文的投资传递函（包括确认仅在将公司股份证券交付给交易所代理时交付实物股份证券代表的公司股份（即“公司股份证券）风险及所有权仅在将此类公司股份证券交付给交易所代理时转移，并且(ii) 换取电子记账形式的母公司股份时损失风险和所有权转移之说明。向交易所代理交换公司股份证券或公司股份未记名持有的合理所有权证明，连同如交易所代理或母公司可能要求的其他文件一同，以及合理填写表格传递信函，交换之后：(A) 持有这种公司股份证券或公司股份未记名持有的人员有权收到代表合并议价的电子记账股份（以母公司股份的整数股份计）以收到以下规定的权利 章节 ‎2.5(a)和 章节 ‎2.5(c)并且（B）公司股票证书或公司股本的非记名股票 如有符合本条的要求将被注销。在按照本条的规定提供前，每一张公司股票证书或公司股本的非记名股票应被视为自第一有效时间起仅代表 只有接收亲属资本股的账面股份的权利。如果任何公司股票证书 已被遗失、盗窃或销毁，亲属公司可能自行决定并作为发帖的 条件，要求拥有此类遗失、盗窃或销毁公司股票证书的所有者提供适用的宣誓书 就有关该公司股票证书，发帖保证亲属公司免受由于 有关该遗失、盗窃或销毁公司股票证书或任何作为交换而向其发行的亲属资本股所遭受的任何索赔。 章节 ‎2.7(b)，每张公司股票 证书或公司股本的非记名股票从第一有效时间起被视为仅代表 只有接收合并对价的亲属资本股的账面股份。如果任何公司股票证书 已遗失、盗窃或销毁，亲属公司可能自行决定并作为发帖的 条件，要求拥有此类遗失、盗窃或销毁公司股票证书的所有者提供适用的宣誓书 就有关该公司股票证书，发帖保证亲属公司免受由于 有关该遗失、盗窃或销毁公司股票证书或任何作为交换而向其发行的亲属资本股的任何索赔。

(c)关于母公司资本股票，于第一生效时间后具有记录日期的分红派息或其他分配，不得支付给任何未交出公司股票证书持有人，直到该持有人交出该公司股票证书或公司资本股票的非记名股份，或按照本协议提供遗失或毁坏书面声明为止。 章节 ‎2.7 （届时，该持有人将有权，受适用遗失财产（abandoned property）、未领取财产（escheat）或类似法律的影响，收取所有这些分红和派息，无息）。

(d)            交易所代理持有的任何一家Parent Capital Stock股份，如果在Closing Date之后的日期180天时尚未分配给Company Stock Certificates持有人，将在Parent要求时交付给Parent，且任何尚未交出他们的Company Stock Certificates或根据此准则交出Company Capital Stock的无记名股份的Company Stock Certificates持有人 章节 ‎2.7 只能向Parent索赔Parent Capital Stock及与Parent Capital Stock相关的任何股票分红或派息。

(e)任何人不应对任何公司股票证书的持有人或无证股票公司资本股的任何持有人，或对任何父公司资本股（或关于该资本股的分红或派息）的持有人负责，也不应对根据任何适用的遗弃财产法、荡产法或类似法律，向任何公职人员递交的任何现金数额负责。

2.8            净现金和公司估值的计算.

(a)不得晚于Closing之前的五(5)个工作日，母公司将向公司交付一份时间表(“父母净现金时间表”)母公司净现金时间表)详细说明父母净现金的成分，包括任何父母净现金较低金额或父母净现金较高金额(“母公司净现金计算)截至预期Closing日期前一工作日的晚上11:59(“现金确定时间)由母公司首席财务官(或在该时刻没有首席财务官的情况下，由母公司的首席财务和会计官确定)编制和认证。母公司应根据公司合理的要求，尽可能向公司提供(主要以电子形式)用于编制母公司净现金时间表和备份材料的工作文件，如果公司合理要求，母公司应在合理时间内，并提前合理通知的情况下，安排公司对母公司的内部财务人员，会计师和顾问进行审计。母公司净现金计算应包括母公司在现金确定时间确定的定义术语 章节 ‎1.1(a)在计算交换比率时是必要的。在交付母公司净现金计划后并在闭幕之前的期间，公司应有机会审查母公司净现金计划，并且母公司应合理配合公司诚信地回应公司关于母公司净现金计划的任何问题；但是，这绝不会限制或以其他方式影响公司根据本协议的补救措施，或使公司确认其中反映的金额的准确性。

(b)在收盘之前的不晚于五（5）个工作日，公司将向母公司交付一份安排（“公司估值 安排”），以合理详细方式列明公司估值的主要元件的公司（“公司估值计算”）以及交付该安排的日期为（“公司 估值交付日期”）截至预计收盘日前一个工作日的下午11:59，即（“公司 估值确定时间公司首席财务官（或若无首席财务官，则由公司信安金融和会计负责人）准备并认证。公司应在合理请求时向母公司提供用于编制公司估值表的工作文件和备用材料，并在合理时间内以及在合理通知下，如母公司合理请求，提供公司会计师和律师。在提交公司估值表后至交割之前的期间，母公司应有机会审核公司估值表，并公司应合理与母公司诚信合作，回答母公司提出的关于公司估值表的任何问题；但是，这无论如何不会限制或以其他方式影响母公司根据本协议或其他方式的补救措施，或构成母公司对其中所反映金额准确性的确认。

(c)不迟于现金确定时间后的三（3）个营业日内（该期间的最后一天，称为“回复日期”），公司有权通过发出书面通知的方式对上级公司的净现金计算的任何部分提出争议（“争议通知”）。 任何争议通知应合理详细地指明以及已知的任何拟定的对上级公司净现金计算的修订的性质和金额，并应附有合理详细的支持这些修订依据的材料。

(d)            在公司估值交付日期之后的不迟于三（3）个业务日内（该期间的最后一天，称为“公司 估值响应日期”），母公司应有权通过将书面通知交付给公司（一份“公司估值争议通知”）来对公司估值计算的任何部分提出争议。 任何公司估值争议 通知应合理详细地标明并在所知范围内指出对公司估值计算的任何拟议修订的性质和金额，并应附有合理详细的支持这些修订基础的材料。

(e)如果，在回复日期或之前，公司书面通知母公司，表示对母公司净现金计算没有异议，或者在回复日期，公司未能如所述交付争议通知书，那么依照母公司净现金计算表中的母公司净现金计算结果被视为在本协议目的而最终确定，并代表本协议中现金确定时间的母公司净现金。 章节 ‎2.8(c)如果母公司净现金计算表所述的母公司净现金计算在本协议目的而已被最终确定，并代表本协议中现金确定时间的母公司净现金。

(f)如果，在公司估值响应日期之前或之日，母公司书面通知公司表示对公司估值计算没有异议，或者在公司估值响应日期当日，母公司未能按照规定提供公司估值争议通知，则应视公司估值计算已被最终确定为本协议目的，并代表公司估值为本协议中公司估值确定时间的目的。章节 ‎2.8(d)则公司估值计算如公司估值表中所规定的应被视为已最终确定，作为本协议目的的公司估值，并代表公司估值确定时间的公司估值。

(g)如果公司在回应截止日期之前或之日交付争议通知，则母公司和公司的代表应尽快会面，善意地尝试解决争议项，并就确定母公司净现金的协商达成一致结论，该母公司净现金金额应被视为已最终确定，用于本协议目的，并代表本协议中现金确定时间的母公司现金。

(h)如果父公司在公司估值回应日期之前或之前提出公司估值争议通知，则父公司的代表和公司的代表应及时会面，试图善意解决有争议的条款，并协商确定公司估值的各个元件的约定确定的公司估值金额应被视为本协议目的而最终确定，代表了协议目的公司估值确定时间的公司估值。

(i)如果母公司和公司的代表无法协商就父母公司现金决定时间点的父公司净现金达成一致的判断 章节 ‎2.8(g)或者根据公司估值确定时间点的公司估值元件 章节 ‎2.8(h)在发出争议通知或公司估值争议通知后的三天内（或父母公司和公司可能相互同意的其他期限），如果关于父母公司净现金或公司估值计算仍有争议，则应将任何剩余争议提交给由父母公司和公司共同选定的具有公认国际声誉的独立审计师。如果各方无法在五（5）天内选择独立审计师，那么父母公司或公司之后可以要求美国仲裁协会波士顿马萨诸塞州办事处参与。AAA请选择由双方共同选定的独立审计师或由AAA选定的独立审计师进行这样的选择，即“美国西南能源公司）。母公司和公司应及时向会计事务所交付用于准备母公司净现金表和纠纷通知以及公司估值表和公司估值纠纷通知的工作文件和备份材料，母公司和公司应尽商业上的合理努力，促使会计事务所在接受其选择后的五个（5）个工作日内做出裁定。母公司和公司应有机会向会计事务所提交有关未解决争议的任何材料，并与会计事务所讨论问题； 在每种情况下，该B类股东和/或该B类股东的家庭成员需独立控制在此类帐户、计划或信托中持有的B类普通股实时；, 公司对于以下情况，不应承担责任：根据第10（b）部分书面信息可靠地提供。，在没有父母公司和公司的代表在场的情况下，不得进行任何此类展示或讨论。会计事务所的裁定应仅限于提交给会计事务所的分歧。由会计事务所制定的母公司净现金数额或公司估值的元件的裁定应以书面形式交付给母公司和公司的每一方，对母公司和公司具有最终约束力，并且（除非有明显错误）被视为已经最终确定，用于本协议的现金确定时点的母公司净现金数额或公司估值确定时点的公司估值元件。双方应推迟交割，直至解决本协议中描述的事项 章节 ‎2.8(i)会计师事务所的费用和支出应按照Parent和公司无法成功争辩的Parent净现金额或公司估值金额（最终由会计师事务所判断）与Parent净现金额或公司估值元件的总争议金额相比例分配。如果这个比例适用于现金确定时间的Parent净现金的判断或公司估值确定时间的公司估值元件的确定，则根据该条款解决后，即使交割日期晚于预期交割日期，各方也无需重新确定Parent净现金或公司估值，但如果交割日期晚于预期交割日期30天，Parent和公司可以要求重新确定Parent净现金或公司估值。 章节 ‎2.8(i)适用于现金确定时间的Parent净现金或公司估值确定时间的公司估值元件的判断，根据该条款解决后，即使交割日期晚于预期交割日期，各方也无需重新确定Parent净现金或公司估值，但如果交割日期晚于预期交割日期30天，Parent和公司可以要求重新确定Parent净现金或公司估值。 章节 ‎2.8(i)各方在根据此条款解决事宜后，即使交割比预计交割日期晚，也无需重新确定Parent净现金或公司估值，但如果交割日期晚于预期交割日期30天，Parent和公司可以要求重新确定Parent净现金或公司估值。

2.9            进一步行动如在第一有效时间后的任何时间内，生存实体确定有必要或有必要执行本协议目的或使生存实体充分享有公司的所有权利和财产，则生存实体的官员和董事将被充分授权，并将以商业上合理的努力（以公司名义、以第一次合并子公司名义、以第二次合并子公司名义、以生存实体名义以及其他方式）采取此类行动。

2.10            税务处理意愿各方承认并同意，就美国联邦（及适用的州和地方）所得税目的而言，本次合并旨在符合《法典》第368(a)条的重组定义（“税务处理意愿”）。各方视本协议为根据《财政部法规》第1.368-2(g)和1.368-3条的“重组计划”采纳。

2.11            预扣税款。每个交易代理商、母公司和存续实体均有权从根据适用法律应扣除或代扣的任何对价中扣除和代扣所需的金额； 在每种情况下，该B类股东和/或该B类股东的家庭成员需独立控制在此类帐户、计划或信托中持有的B类普通股实时； 交易代理商、母公司和存续实体将尽商业上的合理努力，立即通知相关人员有意扣减任何部分该等对价，并与相关人员合作，在适用法律允许的范围内减少或消除任何该等代扣。在扣除或代扣并汇给适当政府机构后，该等金额在本协议下应被视为已支付给本应支付给该等金额的人员。根据本协议支付的构成员工税务目的的所有款项应通过存续实体或母公司的工资支付。

2.12            评估权.

(a)尽管本协议的任何规定与之相反，公司的股本股票即在第一次生效时间之前即刻发行并由行使并完善了根据DGCL拍卖权的股东或受益所有人所持有的（统称为“异议股份”不应转换为或代表有权接收根据 章节 ‎2.5 的合并对价。这些股东或受益所有人有权按照DGCL规定收取他们持有的公司股本股票的公允价值，直到这些股东或受益所有人未能完善或有效撤回或以其他方式失去根据DGCL的拍卖权为止。所有未能完善或有效撤销或失去其根据DGCL对公司股本股票的评估权的股东或受益所有人（不论是在第一次生效时间前还是在第一次生效时间后）持有的所有拒绝的股份，据此将被视为自该等股东或受益所有人在方式规定的情况下交出这些拒绝的股份时，作出为，在第一次生效时间，有权接收根据这些拒绝的股份而成为可兑换的，并且有权接收的合并对价（不含利息）。 款项 ‎2.520,200,000‎2.7.

(b)公司应及时向母公司书面通知公司收到的股东抗议或受益所有人提出的任何要求、撤回此类要求以及公司收到的任何其他文件，以及与此类要求相关的任何重要函件，并且母公司有权参与所有与这些要求有关的谈判和程序。公司不得在未经母公司事先书面同意（不得无故拖延、阻碍或设定条件）的情况下，就此类要求进行任何支付，或解决或提议解决任何此类要求，或批准任何此类要求的撤回或同意执行前述任何行动。

第3节。 公司的陈述和担保.

除了公司交付给母公司的书面披露文件之外，公司向母公司和并购附属公司保证：公司披露函与本协议同时执行的书面披露文件除外，公司向母公司和并购附属公司保证如下：

3.1            由 组织; 子公司.

(a)公司是根据其所在管辖区域法律成立或其他合法实体，合法存在并处于良好状态，并具有一切必要的权力和权限：(i) 根据目前业务运营的方式开展业务，(ii) 拥有或租赁和使用当前拥有或租赁和使用的财产和资产，和(iii) 履行其受约束的所有合同下的义务。

(b)            公司已获得合法许可并具备从事业务的资质，在所有业务性质及目前业务进行所需的管辖权下，良好地处于合法地位（在该管辖区域适用的范围内），除了在未获得此类许可或资质的管辖区域，其单独或共同未取得资质的情况在合理预期范围内不会对公司产生重大不利影响。

(c)            公司没有附属公司，并且公司不拥有任何其他实体的股权或成员权益，也不直接或间接地控制任何其他实体的任何性质的权益、所有权或利润分享权益。公司不是，并且从未直接或间接地成为任何合伙企业、合资企业或类似业务实体的当事方、成员或参与方。公司没有同意或有义务进行或受制于可能使其有义务进行未来投资或对其他实体进行资本贡献的任何合同，也没有给予其有义务进行未来投资或对其他实体进行资本贡献的约束。公司从未是任何合伙企业、有限合伙企业或其他实体的普通合伙人，也从未对任何普通合伙企业、有限合伙企业或其他实体的任何债务或其他义务承担过责任。

3.2            组织文件公司已向母公司交付了公司的组织文件的准确完整复印件。 公司在任何重大方面不违反或违背其组织文件。

3.3            权威性； 协议的约束力. 公司拥有一切必要的公司权力和授权，以签订并履行本协议项下的义务，并完成预期的交易。 公司董事会已经（i）确定预期的交易对公司及其股东公平、明智并符合最佳利益，（ii）批准和宣布本协议和预期的交易的明智之举，并（iii）决定在本协议的条款和条件下建议，股东们投票通过本协议并因此批准预期的交易。 本协议已由公司妥善签署和交付，并假定母公司、第一合并子公司和第二合并子公司经过适当授权、签署和交付，构成公司的合法、有效和具有约束力的义务，依据协议条款对公司具有强制执行力，但须受到可执行性例外情形的限制。

3.4            所需表决股东经公司登记日持有的大多数公司股份股东投赞成票（或书面同意），按转换基础单一类别表决，和持有公司种子优先股登记日持有并有权对此进行表决的大多数公司种子优先股股东投赞成票，按独立类别表决，是采纳和批准本协议以及批准拟议交易（统称“需要公司股东投票”).

3.5            非违反； 同意.

(a)在获得必要的公司股东投票、符合《HSR法案》（如适用）的任何适用要求以及提交特拉华州公司法或深圳经济特区公司法规定的合并证书和指定证书后，（x）公司签订、交付或履行本协议，以及（y）完成拟议交易，均不会直接或间接（无论有无通知或经过时间）：

(i)违反公司组织文件的任何规定，与之冲突或导致违反。

(ii)违反，与或导致公司受限制或使用的资产受限的任何法律或任何给予任何政府机构或其他人士挑战拟议交易或行使任何救济或依法获得任何救济权力的法律或任何命令冲突;

(iii)违反，冲突或导致违反公司任何条款或要求，或使任何政府机构有权撤销、撤回、暂停、取消、终止或修改公司持有的或与公司业务或公司拥有、租赁或使用的任何资产相关的任何政府授权。

(iv)违反，与任何公司物资合同的任何规定冲突或导致违反或违约或导致默认，在任何公司物资合同的任何条款下给任何人权利：(A) 宣布违约或行使任何公司物料合同下的任何补救措施，(B) 任何实质性支付，退款，退款，处罚或交货时间表变更，(C) 加速任何公司物料合同的到期日或履行，或(D) 取消，终止或修改任何公司物料合同的任何条款，但在任何非重大违约，违约，处罚或修改情况下除外；或

(v)在对公司拥有或使用的任何资产强加或设立任何担保（除了被允许的担保）的情况下

(b)            除(i)必要的公司股东投票，(ii)根据DGCL或DLLCA向特拉华州州务卿登记合并证和指定证书，(iii)符合适用的HSR法案要求(如适用)和(iv)根据适用的联邦和州证券法要求可能需要的批准、豁免、批准文件、授权、注册、声明和提交外，公司无需向任何涉及(x)执行、交付或履行本协议或(y)完成拟议交易而必须提交文件或发出通知或取得任何人的同意。

(c)没有州接管法规或类似的法律适用或据称适用于合并、本协议、公司股东支持协议或任何拟议交易。

3.6            资本

(a)公司的授权股本包括（i）40,000,000股公司普通股，截至本协议日期已发行并流通的股份为27,049,180股；（ii）20,000,000股公司优先股，其中20,000,000股已指定为种子优先股，并截至本协议日期已发行并流通的股份为20,000,000股。公司没有持有任何股份在其库存中。至本协议日期，公司的股本由个人持有，并且数量如下所示。 章节 ‎3.6(a)公司披露函的第 项进一步说明了每位个人（i）持有的股份数量和个人姓名，（ii）这些股份的类别和系列，（iii）代表这些股份的适用记账账户数量或代表这些股份的证书数量，（iv）该人员是否是或曾经是雇员，以及（v）该人员的住宅地。每股公司优先股可转换为一股公司普通股。对于公司股本没有宣布或应计但尚未支付的股息，公司从未宣布或支付过任何股息或其他分配。

(b)            所有板块 如所述。 章节 ‎3.6(a)于公司披露信函 中载明的所有杰出公司股本均已得到妥善授权和有效发行，已全部支付并且无需进一步征税，并且除组织文件或适用证券法规定的负担外，不附加任何担保。任何尚未发行的公司股本均无权或受预先购买权、参与权、维持权或任何类似权利的约束，也不受任何优先购买权利益或任何优先购买权的约束。除本协议所约定外，没有任何公司合同涉及对公司股本的投票或登记，也没有任何公司合同限制任何人购买、出售、抵押或以其他方式处置（或就公司股本授予任何期权或类似权利）。公司无义务且也未受约束，根据公司可能需履行或受任何合同的约束而成为有义务回购、赎回或以其他方式取得任何尚未发行的公司股本或其他证券。 章节 ‎3.6(b于公司披露信函的2) 中准确而完整地描述了公司就公司股本（包括根据行使期权而发行的股份）持有的所有回购权利，并指明目前可以行使哪些回购权利。

(c)除公司股票计划外，且除所述之外 章节 ‎3.6(c)公司没有任何股票期权计划或任何其他计划、方案、协议或安排，为任何个人提供基于股权的报酬。 章节 ‎3.6(c)关于截至本协议日期尚未行使的每个公司期权，披露函第 部分概述了以下信息：（i）持有人的姓名，（ii）截至本协议日期有关的公司普通股数量，（iii）公司期权的行权价格，（iv）授予公司期权的日期，（v）适用的获股计划表，包括任何加速条款，（vi）公司期权到期日期，（vii）是否拟定为“激励性股票期权”（根据法典定义）或非资格股票期权，以及（viii）在公司期权情况下，授予该公司期权的计划。公司已向母公司提供了关于公司已发放基于股权奖励的股权激励计划的准确和完整副本，以及证明已向董事会和股东展示公司股票计划及其任何修订的所有授予协议样本。

(d)除了尚未行使的公司期权或在公司披露函的约定外，没有任何待议事项：（i）没有待行使的或出售的认购权，选项，看涨，认股权证或其他公司股票或其他证券的权利（无论是否当前可行使），（ii）没有待兑现为公司股本或其他公司证券的任何股票转换权，工具或债务，（iii）没有股东权益计划（或通常称为"毒丸"的类似计划）或根据其公司有义务出售或以其他形式发行任何公司股票或任何其他证券的合同，（iv）没有可能导致或构成任何人声称有权取得或收到公司股票或其他证券的任何股票的状况或情形。关于公司的任何优先或已授权的股票增值权，虚拟股票，利润分配或其他类似权利与公司有关。 章节 ‎3.6(d)公司披露函的第 ___ 页，没有：（i）公司股票或其他证券的待行使的认购权，选项，看涨，认股权证或权利（无论是否当前可行使），（ii）任何待兑现为公司股本或其他证券的股票转换，工具或债务，（iii）股东权益计划（或通常称为"毒丸"的类似计划）或公司根据合同有义务出售或以其他方式发行公司股票或其他证券，（iv）可能引发或提供据称其有权取得或接收公司股票或其他证券的任何人提出索赔的条件或情况。关于公司不存在任何未清偿或已授权的股票增值，虚拟股票，利润分配或其他类似权利。

(e)所有未偿还的公司股本、公司期权和其他证券均已依法发行和授予，符合（i）所有适用证券法律和其他适用法律的要求和（ii）适用合同中规定的所有要求。

(f)公司股本是非记名股。

3.7            财务报表.

(a)公司建立了一套内部会计控制系统，旨在提供合理保证：（i）交易根据管理层的一般或特定授权进行，（ii）交易按照需要记录，以便按照GAAP准则编制公司的基本报表并维护公司资产的责任，（iii）只有按照管理层的一般或特定授权才允许访问公司的资产，以及（iv）记录公司资产的责任与定期检查的现有资产进行比较，并针对任何差异采取适当措施。公司持续保持着与类似私营公司的财务报告相一致的内部控制，可合理保证财务报告的可靠性以及为外部目的编制基本报表。

(b)            章节 ‎3.7(c)公司披露信函清单中列出的所有事项，并且公司向母公司交付了创建或管理所有证券化交易和“资产负债表之外安排”（根据《证券交易法》第303条（c）条规定）的准确和完整文件副本。

(c)关于财务报告或会计政策和实践的正式内部调查尚未在公司首席执行官、致富金融(临时代码)或公司总法律顾问、公司董事会或其任何委员会的指示下讨论、审核或启动。公司或其独立审计师未识别出：(i) 公司内部会计控制系统的设计或操作存在任何重大缺陷或实质性弱点，(ii) 涉及公司、公司管理层或参与财务报表编制或公司使用的内部会计控制的其他员工的任何欺诈，无论规模大小，(iii) 关于前述任何事宜的任何主张或指控。

3.8            变化的缺失除《基本报表》上所述之外，公司在交易中未雇用任何经纪人或中介。 章节根据公司披露函件第3.8节，在公司成立之日和本协议签订日期之间，公司只在业务常规范围内开展业务（除了执行并履行本协议以及与此相关的讨论、谈判和交易），未发生任何（a）公司重大不利影响或（b）可能需要根据本协议第5.2（b）节征得母公司同意的行动、事件或情况。 根据本协议第5.2（b）条本协议签署和交付后，若发生此类行动、事件或情况，可能需要母公司同意。

3.9            未披露的负债缺失自成立以来，公司并无任何形式的责任、债务、义务、费用、索赔、缺陷、保证或背书，无论已归属、绝对、或未来可能发生等（统称“负债”）负债），除以下情况外：(a) 基本报表中披露、体现或留存的负债（或将披露、体现或留存）；(b) 自此日期以来公司在正常业务经营中发生的正常且经常性负债（其中无一违反任何合同、担保、侵权或违法行为）；(c) 公司合同下的义务履行负债；(d) 与本次拟定交易相关的负债；以及(e) 第 3.9 节中描述的负债 第3.9节公司披露函的附录

3.10            资产标题公司拥有，并拥有所有实体财产或实体资产及用于其业务或运营中的设备的良好和有效所有权，或者在租赁财产和资产的情况下，拥有合法的租赁权益，包括公司账簿和记录中显示为公司所有的所有实物资产。所有这些资产均由公司拥有，或者在租赁资产的情况下，公司享有清晰的权利，除了允许的负担外，没有其他任何负担。

3.11            房地产; 租赁权公司并不拥有，也从未拥有过任何房地产，也没有与公司购买或卖出任何房地产的协议。公司已向母公司提供了（a）公司直接或间接持有有效租赁权益的所有房地产的准确完整清单，以及公司占有或租赁的其他任何房地产并（b）有关任何此类房地产的租赁合同副本。（“公司房地产租赁”），每份租赁合同均有效且生效，没有公司存在任何重大违约，也没有根据公司或公司了解到的其他各方的了解，不存在现有的重大违约。

3.12            知识产权.

(a)            章节 ‎3.12(a)公司披露函的所有板块是所有公司注册知识产权的准确、真实和完整清单。

(b)            章节 ‎3.12(b)公司披露信中准确地识别了以下事项： （i）根据任何公司知识产权被授权给公司的所有公司合同（除了（A）仅以可执行或目标代码形式​​授权的任何非定制软件，根据非排他性内部使用软件许可和与此类软件相关的其他知识产权，并且未纳入或对公司产品或服务的开发，制造或分发具有重要意义的任何内容， (B)辅助于购买或使用服务，设备，试剂或其他材料的非排他性许可的任何知识产权， (C)根据保密协议提供的任何机密信息以及（D）公司与其员工之间的公司标准格式协议），和（ii）公司获得的许可是否具有排他性或非排他性。

(c)            章节 ‎3.12(c)披露信函中明确标识了每份公司合同，根据这些合同，任何人已被授予公司知识产权的许可或允诺不起诉，或者已经获得或取得了任何公司知识产权的权利（无论目前是否可行使），除了（i）根据保密协议提供的任何机密信息和（ii）独家授权给学术合作者、供应商或服务提供商的任何公司知识产权，目的仅是使这些学术合作者、供应商或服务提供商能够为公司的利益提供服务。

(d)公司并非受约束，也没有任何公司知识产权受约任何合同的约束或其他规定，该约定或其他规定在任何地方限制或限制公司使用、开发、主张或执行任何公司知识产权的能力。

(e)公司独家拥有所有公司知识产权的所有权利、权益（除了（i）授权给公司的公司知识产权，或在公司披露函中明确标识的共同拥有权利 章节 ‎3.12(e)公司披露函中的条款，（ii）任何未经定制的软件，是根据非排他性的内部使用软件许可证以可执行或目标代码形式授权给公司，并与此类软件相关的其他知识产权，且不包括在任何公司产品或服务的开发、制造或分销中，或对其具有重要影响的任何知识产权，以及（iii）任何在购买或使用设备、试剂或其他材料时附带许可的非排他性基础上知识产权），在所有情形下，均没有任何除了允许的担保以外的 担保。 无限制前述内容的范围：

(i)所有文件和工具已被有效签署、交付并及时提交给相关政府机构以注册、申请或更新公司注册的知识产权。

(ii)每个公司的雇员或承包商，涉及为公司创造或开发任何知识产权的人，都已签署有效、可执行的协议，包含将这些知识产权现有转让给公司的条款，以及保护公司商业秘密和机密信息的保密条款。

(iii)据公司了解，公司目前或曾经的股东、高管、董事或雇员均不存在对公司所拥有的任何公司知识产权声称、权利（无论当前是否可行使，或将来可行使）或利益的情况。据公司了解，公司的雇员中（a）未受任何限制他/她为公司履行职责的合同约束或其他限制；或（b）未违反与任何前雇主或其他个人签订的与公司所拥有的公司知识产权或保护包括公司知识产权的商业秘密和机密信息的保密协定有关的任何协议。

(iv)未使用任何政府机构或大学、学院、研究机构或其他教育机构的资金、设施或人员，直接或间接地，开发或创建公司拥有股权的全部或部分知识产权，但除了如下情况：不导致该政府机构或机构拥有这些公司知识产权或享有因实践这些公司知识产权而获得版税或其他报酬的权利的资金或使用设施或人员，截至本协议签署日期。

(v)公司已采取合理措施，以维护并保护并执行其对所有专有信息的权利，该公司持有的或声称持有的信息被视为保密或商业秘密。

(vi)公司尚未将任何公司知识产权的所有权转让给其他人，也没有同意将任何公司知识产权的所有权转让给其他人。

(f)公司已向母公司交付或提供所有知识产权协议的完整准确副本。就每份知识产权协议而言：(i) 每份协议对公司具有法律效力且完全有效， (ii) 公司未收到任何有关终止或取消的书面通知，或收到任何有关违约或违约的书面通知，而此违约尚未被纠正或放弃，以及(iii) 公司及据公司所知，相关各方均未在任何重大方面违反或违约。

(g)公司目前销售或正在开发的任何产品的制造、营销、销售、进口、使用或预期使用或其他处置行为均不违反公司与任何第三方之间的任何许可证或协议，且据公司所知，也不侵犯或盗用任何其他个人的有效和已发行的专利权或其他知识产权，该侵权或盗用理应预料会对公司产生重大不利影响。据公司所知，没有第三方侵犯公司所拥有的专利权，或以其他方式违反任何涉及公司知识产权的协议。

(h)截至本协议签订之日，公司未参与任何法律诉讼（包括但不限于针对任何专利或其他政府机构的反对、干扰或其他诉讼），争议该公司知识产权的有效性、可强制执行性、索赔构造、所有权或使用权、销售、提供销售、许可或处置公司任何知识产权的权利。公司没有收到任何书面通知声称公司的任何知识产权或根据其声称的产品、方法或过程的使用、销售、提供销售、许可或转让侵犯、侵占或违反任何其他人的权利，或者公司以其他方式侵犯、侵占或以其他方式违反任何人的知识产权。公司的任何知识产权均不受任何政府机构的未结案命令、裁定书、法令或协议的限制，该命令限制公司开发利用任何公司知识产权。

(i)公司注册IP的每一项内容，一直以来都按照所有适用法律进行归档和维护，所有必须在适当期限内进行的申报、付款和其他操作，以维持该公司注册IP的全部生效和效力，都已经完成。据该公司所知，所有已颁发或授权的公司注册IP都是有效的且可强制执行的。

(j)            据公司所知，公司拥有、使用或申请的任何商标（无论是否注册）或商号均不会与其他任何个人拥有、使用或申请的任何商标（无论是否注册）或商号发生冲突或干扰。公司拥有或声称拥有所有权利的任何商标（无论是否注册）所关联的或固有的商誉未受损，公司按照通用会计准则确定。

(k)除了 如中所述 章节‎3.12(b), ‎3.12(c)要么 ‎3.12(k)该公司的 披露信函或在正常业务过程中签订的 “现成” 许可协议中包含的披露信 公司，(i) 公司不受任何合同的约束，不得向任何其他人提供赔偿、辩护、使其免受伤害或向任何其他人提供补偿 从整体上看，尊重对公司具有重要意义的任何知识产权侵权、挪用或类似索赔 以及 (ii) 公司从未承担或同意解除任何现有或潜在的责任或以其他方式承担责任 他人侵犯、挪用或违反任何知识产权，包括假设、协议或 责任自本协议签订之日起仍然有效。

(l)公司没有参与任何合同，由于执行、交付和履行本协议的结果，将导致授予任何公司知识产权的任何许可或其他权利，违反、违约或终止与任何公司知识产权相关的该等合同，或损害公司或存续实体及其子公司使用、卖出或许可或有效执行任何公司知识产权或其部分的权利，除非发生任何此类授予或损害，该授予或损害合计后果不会被合理预期导致公司重大不利影响。

3.13            协议、合同和承诺.

(a)            章节 ‎3.13(a)公司披露函的清单列出了本协议签订日期生效的以下公司合同（每个合同名称为“公司 物料合同全部协议称为“”。公司重要合同”):

(i)任何与非业务常规过程中缔结的赔偿或担保协议有关的公司合同

(ii)每一份公司合同均含有(A)限制公司或存续实体从事任何业务或与任何个人竞争，或限制公司产品或服务的开发、制造或分销的任何契约；(B)任何最优惠定价安排，(C) 任何排他性条款 或 (D) 任何禁止招揽条款。

(iii)每个 公司合同（A）根据该合同，任何个人向公司授予独家许可使用任何知识产权；或（B）根据该合同，公司向任何个人授予独家许可使用任何公司知识产权；

(iv)每份公司合同均涉及超过10万美元的资本支出，并要求根据其明文条款在本协议日期之后进行支付，且不可无罚款取消；

(v)           each Company Contract containing any royalty, dividend or similar arrangement based on the revenues or profits of the Company, any of its Subsidiaries, or of a product;

(vi)          each Company Contract relating to the disposition or acquisition of material assets or any ownership interest in any Entity, in each case, involving payments in excess of $100,000 after the date of this Agreement;

(vii)         each Company Contract relating to any mortgages, indentures, loans, notes or credit agreements, security agreements or other agreements or instruments relating to the borrowing of money or extension of credit in excess of $100,000 or creating any material Encumbrances with respect to any assets of the Company or any loans or debt obligations with officers or directors of the Company;

(viii)        each Company Contract requiring payment by or to the Company after the date of this Agreement in excess of $100,000 pursuant to its express terms relating to: (A) any distribution agreement (identifying any that contain exclusivity provisions), (B) any agreement involving provision of services or products with respect to any pre-clinical or clinical development activities of the Company, (C) any dealer, distributor, joint marketing, alliance, joint venture, cooperation, development or other agreement currently in force under which the Company has continuing obligations to develop or market any product, technology or service, or any agreement pursuant to which the Company has continuing obligations to develop any Intellectual Property that will not be owned, in whole or in part, by the Company or (D) any Contract to license any patent, trademark registration, service mark registration, trade name or copyright registration to or from any third party to manufacture or produce any product, service or technology of the Company or any Contract to sell, distribute or commercialize any products or service of the Company, in each case, except for Company Contracts entered into in the Ordinary Course of Business;

(ix)          each Company Contract with any Person, including any financial advisor, broker, finder, investment banker or other Person, providing advisory services to the Company in connection with the Contemplated Transactions and requiring payments by Company after the date in this Agreement in excess of $100,000 pursuant to its express terms;

(x)每家公司合同（包括与公司为一方或与其资产与财产受约束的合同）中，牵涉到公司每年支付义务或向其支付超过10万美元的合同；

(xi)每份公司合同的签订，解决任何法律诉讼或其他争议，根据该合同，公司或其任何子公司有超过10万美元的尚未偿付的义务；

(xii)         任何其他不可因公司意愿而随意终止的公司合同（没有违约或支付）。按照任何此类协议、合同或承诺，公司自本协议日起的付款或收款金额总计超过$100,000，或本协议日后的义务总额超过$100,000或对公司整体业务或运营至关重要的合同；或

(xiii)公司 房地产租赁。

(b)公司已向母公司提供准确完整的所有公司实质合同副本，包括所有修改。没有公司实质合同是非书面形式的。截至本协议日期，公司未违反任何公司实质合同的条款或条件，也未收到任何其他方违反合同或违约的通知。如果该公司实质合同规定了纠正期限，则公司或其他方未纠正违约，违反或违约，以致任何其他方或公司（视情况而定）被允许修改、取消或终止任何该等公司实质合同，或者允许任何其他方寻求可能会对公司产生实质不利影响的损害赔偿。截至本协议日期，每份公司实质合同对于公司而言均有效、具有约束力、可执行且有效，但需排除可执行性例外。没有任何个人正在重新谈判，或根据任何公司实质合同的条款有权更改公司根据任何公司实质合同支付或应支付的任何重大金额或其他任何公司实质合同的任何其他重大条款或规定。

3.14            合规; 许可证; 限制.

(a)            公司已经且一直以来都严格遵守所有适用法律。没有任何政府机构的调查、索赔、诉讼、审计、命令或其他法律程序或诉讼，或者据公司所知有威胁要对公司采取行动。没有对公司具有约束力的协议或命令（i）已经或有理由预期会禁止或实质上影响公司的任何业务实践、公司收购实质财产或公司当前经营的业务，（ii）合理可能对公司履行本协议项下的任何承诺或义务产生不利影响，或（iii）合理可能阻止、延迟、使之非法或者以其他方式干扰拟议的交易。

(b)除美国食品药品监督管理局（或任何取代者）（“FDA”）或其他负责管理药品或器械产品的开发、测试、制造、加工、储存、标签、销售、营销、广告、分销、进口或出口的类似的政府机构（“药品/器械监管机构”），公司拥有目前进行中的业务的所有必要的政府许可公司及其子公司持有公司及其子公司业务运营所需的所有政府许可、授权、许可证、批准、豁免、让步和命令，包括任何政府机构根据适用法律及法规要求的、所需的所有保险和再保险许可证件（统称为“公司许可证”）。”). 章节 ‎3.14(b)公司披露函的第N部分标识出每一个公司许可证。公司严格遵守公司许可证的条款。据公司所知，没有任何法律程序正在进行，也没有威胁要废除、大幅限制、暂停或实质修改任何公司许可证。每一个公司许可证的权利和利益将在第二生效时间之后立即对拟合并实体或其附属公司（如适用）可获得，条件性质大致与本协议签署日期之时的公司享有的相同，并在第一生效时间之前一直保持不变。

(c)公司目前没有任何待审的法律诉讼，也没有据公司了解，因涉嫌违反《联邦食品、药品和化妆品法案》、《FDCA公共卫生服务法案》、FDA下属的法规、《受控物质法案》或药品/器械监管机构颁布的任何其他类似法律而受威胁的情况。PHSA药物/器械监管机构制定的任何其他类似法律。

(d)公司持有所有必要的政府授权可以由任何药品/器械监管机构签发，这些授权对公司目前开展的业务以及产品或产品候选品的开发、测试、制造、加工、储存、标签、销售、营销、广告、分销、进口或出口（目前进行）均为必要。公司产品候选品证券法1933年修改公司监管许可证”）且没有这样的公司监管许可证已被（i）撤销、撤回、暂停、取消或终止，或（ii）以任何不利的方式进行修改，除了不重大的不利修改。 章节 ‎3.14(d)公司披露函的“公司监管许可证”，已经准确识别了每一种公司监管许可证。公司已及时地保持并且在所有重要方面遵守公司监管许可证，而且未收到任何来自任何药品/器械监管机构的关于（A）任何重大违反任何公司监管许可证条款或要求 或（B）任何公司监管许可证的撤销、撤回、暂停、取消、终止或重大修改的书面通知、函件或据公司所知的其他通讯。公司已向母公司提供了所有母公司要求的公司所掌握或控制的与重要公司产品候选品有关的信息，以及与公司产品候选品的开发、测试、制造、加工、储存、标签、销售、营销、广告、分销及进口或出口有关的材料，包括但不限于以下完整副本（如有）：（x）不良事件报告; 临床前、临床和其他研究报告和重要研究数据;检查报告、不良发现通知、无标题信函、警告信、备案和信函，以及向任何药品/器械监管机构的信函和会议纪要和（y）同其他政府机构的类似报告 、重要研究数据、通知、信函、备案、通信和会议纪要。所有此类信息在所有重要方面都是准确且完整的。

(e)所有临床、临床前和其他研究和测试由公司代表或赞助的，或公司所参与的，包括公司产品候选品牌参与的，均在所有实质方面依照标准医疗和科学研究程序进行，基本符合适用的方针，在所有实质方面遵守适用的药品/器械监管机构和其他适用法律的相关规定，包括21 C.F.R.第11、50、54、56、58、312和812部分。公司未收到任何药品/器械监管机构、政府当局、审查委员会、伦理委员会或安全监测委员会发出的任何书面通知、函电或其他通信，要求或据公司所知威胁要采取行动，对公司或其目前产品或产品候选品参与的临床研究采取临床保留订单，或以其他方式终止、延迟或暂停。此外，公司所知，在由公司代表或据公司所知由公司代表开展的任何临床研究中，没有任何临床研究者、研究人员或临床人员被取消参与公司产品候选品品牌相关研究的资格，公司所知，并不存在实施取消这些临床研究者、研究人员或临床人员资格的行政措施的威胁或者在进行中。

(f)公司本身或据公司所知，与任何公司产品候选品相关的任何合同制造商并未成为FDA根据其《欺诈、不实陈述相关重要事实、贿赂及非法回扣》最终政策（见56 Fed. Reg. 46191（1991年9月10日）及任何修改）或任何其他药物/器械监管机构根据类似政策所进行的正在进行或据公司所知受到威胁的调查对象。公司本身未发生且据公司所知，任何合同制造商及其各自的高管、雇员或代理人与任何公司产品候选品相关并未实施任何行为、作出任何声明或未能作出任何声明，这些行为、声明或未能作出声明方面均违反FDA的《欺诈、不实陈述相关重要事实、贿赂及非法回扣》最终政策及任何修改或任何其他药物/器械监管机构的类似政策。公司本身或据公司所知，任何与任何公司产品候选品相关的合同制造商或其各自的高管、雇员或代理人目前未被取消资格，未被定罪或未从事可能导致根据(i) 21 U.S.C. 第335a 款或(ii) 任何类似适用法律进行取消资格处罚或禁止行为。据公司所知，不存在针对公司、公司产品候选品的任何合同制造商或其各自的高管、雇员或代理人正在进行或受到威胁的取消资格或禁止索赔、行动、诉讼或调查。

(g)所有板块制造业-半导体操作均已经在公司知情情况下进行，或者为公司利益与任何公司产品候选人有关，且在所有重大方面符合适用法律，包括FDA的当前良好制造规范标准，包括21 C.F.R. 210、211和600-610部分以及在美国以外国家政府当局制订的规定要求及其相应的对应物。

(h)公司或公司知情的合同制造商或实验室的任何制造业-半导体公司产品候选者，（i）没有受到药物/器械监管机构关闭或进出口禁令的影响，也没有受到（ii）FDA 483表格、违规通知、警告信、无标题信函或FDA或其他药物/器械监管机构的类似函件或通知，指称或主张未遵守任何相关法律，且该类情况尚未得到满足或被相关药物/器械监管机构关闭，公司知情的情况是，FDA或其他药物/器械监管机构也没有考虑此类行动。

3.15            法律诉讼; 命令.

(a)            公司没有未决的法律诉讼，并且据公司了解，没有任何人以书面形式威胁要提起任何法律诉讼： (i) 涉及公司或其子公司或任何公司关联方（以其为身份）或公司拥有或使用的任何主要资产或其子公司的任何法律诉讼，或 (ii) 挑战，或可能导致阻止，延迟，使非法或以其他方式干扰拟议的交易。

(b)公司或其任何子公司，或公司或其任何子公司拥有或使用的主要资产，均不受任何订单限制。据公司了解，没有高管或公司重要员工受任何要求的约束，该要求禁止该高管或公司关键员工从事或继续从事与公司或其任何子公司或公司或其任何子公司拥有或使用的主要资产相关的任何行为，活动或做法。

3.16            税务事项.

(a)公司已及时提交（或使提交）所有所需根据适用法律提交的所得税申报和所有其他重要税务申报（考虑到适用的延期）。所有这类税务申报在所有重要方面均真实、正确且完整。除了不重大的例外，任何政府机构均未在公司未提交税务申报的司法管辖区提出要求认定公司受到该司法管辖区税务管辖。

(b)所有板块 公司应付的全部税款（无论是否显示在任何税务申报表上）均已按时支付（考虑到任何适用的延期申报）。

(c)公司已经扣缴并支付给相关政府机构所有应扣缴并支付的主要税项，包括支付或应付给任何员工、独立承包商、债权人、股东或其他第三方的任何金额。

(d)公司的资产上没有任何涉及大额税款的担保（《允许担保》定义中第（a）款描述的其他担保除外）。

(e)就公司而言，没有任何政府机关书面主张、提出或评定的对该公司涉及的税收金额存在未及时全额支付的缺陷。就该公司而言，并无任何未决（或基于书面通知，受到威胁的）涉及公司税收责任的重大审计、评估、检查或其他行动。该公司尚未就任何涉及重大税收金额的诉讼时效或就当前生效的任何重大税务评估或缺陷的时间延期，授予豁免。

(f)公司在过去五（5）年内未被视为《法典》第897（c）（2）节规定的美国房地产控股公司。

(g)公司未参与任何税收分配、税收共享或类似协议（包括赔偿安排），除了在业务正常进程中签订的惯常商业合同，其主要目的并不涉及税收（“业务正常合同”).

(h)公司不是联邦联合报税团体的成员（除了公司为联邦联合报税团体的共同母公司的情况除外）。公司根据财政部法规第1.1502-6条（或任何类似的州、地方或外国法规）不存在对任何人的税务责任，作为受让人或继承人，或者根据合同（除了履行日常协议的情况）。

(i)公司未将他人的股票进行分配，或者未被他人进行股票分配，在交易中该交易据称或意图全部或部分受法典第355条或法典第361条的约束。

(j)公司尚未进行任何被视为《财政部法规》第1.6011-4(b)(2)或第301.6111-2(b)(2)节所列交易。

(k)公司不知悉有关事实或情况，并且没有采取或同意采取任何行动，无论哪种情况下，这些行动都不会合理地预计会阻止或妨碍预期的税务处理。

3.17            员工和劳动事项; 福利计划。

(a)公司已向母公司提供了一份（以匿名方式呈现）名单，列明每位公司员工（全职或兼职）的年薪（或按小时计算的时薪）、最近一次接受的年度奖金以及当前的年度奖金机会。没有任何公司主要雇员向公司或其任何子公司表示由于本协议中拟议的交易或其他原因而打算辞职或退休。公司已向母公司提供了一份（以匿名方式呈现）名单，列明每位公司员工（为公司雇员或其任何子公司员工）的年薪（或按小时计算的时薪）、最近一次接受的年度奖金以及当前的年度奖金机会。

(b)公司及其各附属公司的雇员的雇佣关系可由公司和/或适用的附属公司随时终止。公司已向母公司提供准确完整的员工手册副本，至今有效且重要。

(c)            公司及其任何子公司均不是任何集体谈判协议或其他合同的一方，也没有义务按照劳工组织代表其雇员的条款进行谈判，也没有任何代表公司员工的劳工组织，公司也没有知悉有代表或试图代表公司员工的劳工组织。

(d)            章节 ‎3.17(d)公司披露信函中列出的所有公司员工计划（除了可以随意终止的雇佣安排，公司或其任何子公司没有任何合同义务要进行任何解雇、终止、控制变更或类似支付，并且在实质上与向母公司提供的雇佣安排相同）。

(e)每个公司员工计划，旨在符合《法典》第401(a)节的资格，已收到IRS关于其合格地位的良好裁定或意见书。据公司所知，没有发生任何可能会对任何这类公司员工计划的合格地位或任何相关信托的免税地位产生不利影响的事情。

(f)每一个公司员工计划都在所有相关法律条款，包括但不限于《法典》、ERISA和《平价医疗法案》的规定下建立、维护和运营，保持充分合规。对于任何公司员工计划，除了与日常福利索赔有关的外，没有任何法律诉讼（公司知情的情况下）正在进行或威胁进行。根据适用公司员工计划条款和适用法律的规定，所有应当支付的款项或贡献已经支付或已经根据计提。

(g)公司或其任何ERISA关联公司均不建立、贡献，或有义务贡献，或过去六（6）年内，建立、贡献，或有义务贡献过（i）任何受ERISA第四章或第302节，或税收法第412节约束的“雇员福利计划”，（ii）任何多雇主计划，（iii）按照税收法第419节涵义的任何资助福利计划，（iv）任何多雇主计划，或（v）任何多雇主福利安排。公司或其任何ERISA关联公司从未在ERISA第四章下承担任何责任。

(h)公司员工计划不提供医疗或其他福利待遇给任何服务提供方，公司及其子公司也未承诺在服务终止或退休后向任何服务提供方提供医疗或其他福利待遇，除了（i）根据COBRA或类似州法规定或（ii）在服务终止或退休发生的月份结束时的续保计划。公司未赞助或维持任何自助医疗或长期残疾福利计划。

(i)公司员工计划不受美国境外任何外国司法管辖法律的约束。

(j)每个公司员工计划在任何部分构成“非合格递延补偿计划”（根据法典第409A(d)(1)条及其指导下定义的术语）（每个“ Company Employee Plan”）已在运营和文件上所有重大方面符合法典第409A条和适用指导的要求。公司409A计划任何公司409A计划实施或维护在所有重要方面都符合法典第409A条和适用指导的要求。在任何Company 409A计划下支付的款项，或者按照Company 409A计划的条款进行支付后，都不会受到法典第409A(a)(1)条的处罚。

(k)公司及其各附属公司已经并且一直严格遵守所有适用的联邦、州和地方法律、规则及法规，涉及就业、就业惯例、就业条件、员工分类、税收代扣、禁止歧视、报复和骚扰、平等就业、公平就业惯例、餐食和休息时间、移民身份、员工和职场安全与健康、薪水（包括加班工资）、补偿、工作时间、《工人调整和再培训法》（1988年）或类似州或地方法律中“工厂停工”和“大规模裁员”的含义（“WARN法案”）、劳工惯例或纠纷、限制性条款、劳动合同、职工赔偿及长期残疾保险政策、休假以及员工隐私（统称“与就业有关的法律”），就公司及其任何附属公司的雇员而言：（i）已经依法或根据协议扣减并报告所有应扣减及报告的资料金额，包括工资、薪金及其他支付；（ii）不承担任何工资拖欠、离职金或任何税收或未能遵守前述任何事项所导致的任何重要金额的责任和惩罚；以及（iii）不需就与员工（除了例行业务中应支付的常规款项之外）的失业补偿金、社会保险或其他待遇或义务有关的信托或其他由任何政府机关管理或维护的基金承担任何重要付款责任。据公司知晓，没有任何与雇员、临时工、董事、雇佣合同或雇员计划（除了定期权益索赔）或就业相关法律有关的任何重要法律诉讼、索赔、劳动纠纷、组织活动或者投诉正在进行中或有可能对公司或其任何子公司或公司的受托人或其任何附属公司产生威胁或相对预期。据公司知晓，没有任何正在进行中或可能对公司或公司的任何受托人或其任何附属公司的受托人根据任何工伤保险政策或长期残疾保险政策提起索赔或采取行动的重要索赔或诉讼。公司没有参与一项与任何联邦、州或地方机构或政府机关就就业惯例达成的和解协议、认可裁决或其他协议或订单。

(l)公司在任何一家公司被错误分类（自公司成立以来）均无实质性责任：（i）将任何人作为独立承包商而非雇员进行分类，（ii）从其他雇主租用任何雇员，或（iii）目前或曾被分类为免于加班工资的任何雇员。公司或其任何子公司均未采取任何构成《WARN法案》所定义的"工厂关闭"或"大规模裁员"的任何行动，也未发出《WARN法案》要求的任何工厂关闭或大规模裁员通知（也没有公司或其任何子公司受到发出任何此类通知的要求或义务），亦未涉及或负担任何尚未清偿的《WARN法案》下的责任或义务。

(m)据公司所知，过去六个月内从未发生过任何罢工、放缓、工作停滞、停工、工作行动、工会、组织活动、有关代表问题或类似活动或争议，并且目前也不存在任何可能直接或间接引发或提供开始此类罢工、放缓、工作停滞、停工、工作行动、工会组织活动、有关代表问题或类似活动或争议的事件、状况或情况。

(n)公司及其任何子公司未参与过任何重大不公平的劳动行为，该不公平行为的定义参照国家劳动关系法。公司没有任何重大法律诉讼，申诉，劳资纠纷或投诉正在进行，或者据公司所知，威胁或可以合理预料的与任何员工合同，隐私权，劳资纠纷，工资和工时，休假，工厂闭厂通知，工人赔偿政策，长期残疾政策，骚扰，报复，移民，就业法规章，安全或歧视事项有关的。这些事项包括公司或其子公司的任何现任或前任雇员涉及的不公平劳动行为指控或歧视投诉。

(o)公司或其任何子公司参与及受约束的合同、协议、计划或安排均不包括为了补偿其员工或其他服务提供者根据《法典》支付的任何收入或消费税，包括但不限于《法典》第4999或第409A节。

(p)            公司或其任何子公司均不是任何合同的一方，该合同的执行和交付以及本协议的股东批准，或本协议拟定的交易的完成，可能会导致（仅仅或与任何其他事件结合）使任何公司或其任何子公司的雇员、官员、董事或其他服务提供者的任何支付或福利的提前获得、支付、资金拨付或交付，或增加任何支付或福利的金额或价值。

3.18            环保母基 事项公司已经遵守了所有适用的环保法律，这包括公司拥有根据适用环保法律所需的所有许可证和其他政府授权，并遵守其中的条款和条件，除非存在不符合规定的情况，即使单独或合计起来也不会导致公司出现重大不利影响。公司没有收到任何书面通知或其他通信（无论书面还是其他形式的），无论是来自政府机构、公民团体、员工还是其他人，都没有声称公司不符合任何环保法律的要求，并且据公司所知，没有任何情况可能阻止或干扰公司未来遵守任何环保法律的能力，除非这种不符合规定不会合理地预期会对公司产生重大不利影响。据公司所知：（i）任何由公司租赁或控制的物业的当前或以前的所有者都没有收到任何书面通知或其他关于公司在任何时候拥有所有或租赁的物业的、无论是来自政府机构、公民团体、员工还是其他人的涉及声称该当前或以前的所有者或公司不符合或违反了与该物业相关的任何环保法律的声称；和（ii）公司在任何环保法律下没有重大责任。公司已经提供了所有与其业务和当前或以前设施相关的环境现场评估、环境审计和其他重要环境文件，这些文件位于公司的掌握或控制之中。

3.19            保险公司已向母公司提供了所有与公司业务、资产、负债和业务有关的重要保险政策以及所有重要的自保计划和安排的准确完整副本。这些保险政策均有效且公司在所有重大方面均遵守其条款。除了保险承运人的例行保单到期通知外，公司没有收到任何关于任何实际或可能的:(i)保险单的取消或无效化或(ii) 拒绝或否定任何保险范围、保留权或拒绝任何保险单项索赔的通知或其他通信。公司已及时向适当的保险承运人书面通知了针对公司的每项司法程序，没有任何保险承运人就任何此类司法程序发布拒绝承保或保留权，或通知公司其打算这样做。

3.20            没有 理财顾问除《基本报表》上所述之外，公司在交易中未雇用任何经纪人或中介。 公司披露函第3.20节 根据公司或代表公司安排的安排，没有券商、查找器或投资银行家有权一切券商费用、查找费、意见费、成功费、交易费或其他费用或佣金与考虑中的交易有关。

3.21            与关联方的交易 . 第3.21节 公司披露函的第 项描述了公司与公司的执行官或董事、该执行官或董事的直系家庭成员、持有公司表决权超过 5% 的股东或据公司了解，该公司执行官、董事或股东（公司除外）的“关联人”（在《证券法》下S-k条规404项的涵义内）之间的任何重要交易或关系，对于（a）、（b）或（c）中的每一种情况，如果是属于根据《证券法》下S-k条规404项要求披露的类型，则须予披露。

3.22            隐私 和数据安全。公司一直遵守所有适用的隐私法和适用条款 有关隐私、数据保护、数据安全、跨境数据流、数据丢失、数据盗窃或泄露的任何公司合同 通知、数据本地化、发送请求或未经请求的电子邮件或短信、Cookie 或其他跟踪技术， 或收集、处理、使用、维护、存储、披露、转移或以其他方式处理个人信息（包括 个人、临床试验参与者、患者、患者家属、护理人员或倡导者、医生的任何此类信息 以及其他与公司互动的医疗保健专业人员、临床试验研究人员、研究人员、药剂师 与公司业务的运营有关），除非在任何情况下都没有违规行为，也不会合理地 预计将单独或总体上对公司产生重大不利影响。据公司所知，公司 (i) 已实施并维持合理的书面政策和程序，这些政策和程序实质上符合适用的隐私法 并旨在保护个人信息的隐私和安全（”隐私政策”) 和 (ii) 有 遵守了此类隐私政策，但个人过去和合理预期不会遵守的违规行为除外 或总体而言，是公司的重大不利影响。据公司所知，没有人提起或威胁提起任何法律诉讼 任何人指控违反隐私法、隐私政策或任何公司合同的适用条款，对公司提起诉讼 管理隐私、数据保护、数据安全、跨境数据流、数据丢失、数据盗窃或泄露通知、数据本地化， 发送未经请求或未经请求的电子邮件或短信、Cookie 或其他跟踪技术，或收集、处理、 个人信息的使用、维护、存储、披露、转移或其他处理。据公司所知，有 没有发生任何数据安全事件或数据泄露或其他不利事件或导致任何未经授权访问的事件， 使用、披露、修改或销毁本公司或任何人拥有或控制的个人信息或其他数据 在每次此类事件、违规或事件导致通知义务的情况下，代表公司行事的服务提供商 根据适用法律或任何公司合同的条款，向任何人披露。

3.23            母公司资本股份的所有权。 公司、其董事或据公司所知，公司的任何高级职员、关联公司或公司的任何受控关联公司的员工（a）在此前三年内未曾拥有过母公司的任何股份；或（ b）在此前三年内未曾是母公司的“利害关系股东”（根据DGCL第203条的定义），无论哪种情况。

3.24            无 其他陈述或保证公司特此承认并同意，除本协议中包含的陈述和保证外，母公司或母公司代表的其他任何人并未就母公司或与母公司有关的任何其他信息，或就本次交易所涉任何相关方的部分股东或其各自的关联方向公司提供的任何信息，作出明示或默示的陈述或保证，且（受限于母公司披露信函中明示的陈述和保证）母公司，公司或任何其代表或股东，并未依赖任何此类信息（包括其准确性或完整性）。 第 4 （在母公司披露函中的相应限制和限定条件）公司或其代表或股东并没有依赖任何此类信息（包括其准确性或完整性）。

公司不得，也不得允许其任何受限制附属公司与任何主要财产有关的进行出售/租回交易，除非（a）公司或受限制附属公司有权在不按照本补充契约第4条的规定为2028年债券提供担保的情况下创建抵押权 在销售/租回交易中，该主要财产的抵押债务等于有关销售/租回交易的属性债务；或者（b）公司在销售/租回交易的生效日期之内的六个月内，申请自愿解除或退休 有关2028年债券或与2028年债券排名相同的其他债务（不包括由于转换或根据到期日强制性沉没基金或强制性预付款条款或按到期日支付而退休）相当于该销售/经营租赁交易中有关的负债。上述情况不会阻止公司或任何受限制附属公司（x）进行任何租期不超过三年的出售/回租交易，或（y）进行任何受限制附属公司之间或公司与受限制附属公司之间的出售/回租交易。母公司、第一次合并和第二次合并子公司的陈述和保证.

除了（i）如家长公司交付给公司的书面披露文件中所述以外，（母公司披露函）与签署本协议同时发送的或（ii）在此日期之前向SEC提交的家长公司SEC文件中披露的并且在SEC电子数据收集分析和检索系统中公开可得（但（A）不考虑在此日期之后向SEC提交的或提供给SEC的任何修正案，和（B）不包括任何披露在“风险因素”标题下或在任何其他部分中的风险披露，只要它们是前瞻性声明或警示性、预测性或前瞻性的性质），应理解为家长公司SEC文件中披露的任何事项应被视为在《家长披露信函》的一个部分中披露，只要从阅读家长公司SEC文件中是显而易见的，这些事项适用于《家长披露信函》的该部分或子部分，家长公司、第一合并子公司和第二合并子公司向公司陈述并保证如下：

4.1            由 组织; 子公司.

(a)父公司、第一合并子公司和第二合并子公司均为依法成立或组建的公司，根据各自的组建或成立管辖权下的法律，合法存在并且保持良好的地位，并具有一切必要的公司权力和权威：（i）以目前业务所采取的方式开展业务；（ii）以目前所有属性和资产所拥有或租赁和使用的方式拥有或租赁和使用其财产和资产；以及（iii）履行其受约束的所有合同下的义务。自成立以来，合并子公司未从事与本协议有关或本协议所预期的活动之外的任何活动。

(b)每个母公司及其子公司均具备经营许可并有权经营，在其业务性质和当前经营方式所要求的所有司法管辖区的法律下具备符合资格，并非在可能会导致母公司重大不利影响的司法管辖区以外未取得相关许可或资格。

(c)除Merger Sub外，母公司没有其他子公司，也没有除设置在披露信函的以外的任何附属公司。 第4.1(c)节在母公司披露信函的 一节，母公司不拥有任何母公司的股票，或任何其他实体的股权或利润分享权益，也不直接或间接地控制其他实体，除Merger Sub外。除披露信函的 一节所设置的以外。 第4.1(c)节在母公司披露信函的 一节 之外，母公司不是，也从未直接或间接地是，任何合伙企业，合资企业或类似业务实体的一方，也不是合伙企业，合资企业或其他实体的成员或参与方。母公司没有同意也不受约束要进行，也不受任何协议约束要进行，也不受任何协议约束要进行，也不受任何协议约束要进行，也不受任何协议约束要进行，也没有义务进行向任何其它实体的未来投资或资本贡献。母公司在任何时候都不是任何一家普通合伙企业的普通合伙人，也不对任何普通合伙企业，有限合伙企业或其他实体的任何债务或其他责任承担任何责任。

4.2            组织文件公司的公司文件的副本准确无误地交付给公司。母公司在任何重大方面都没有违反或违反其公司文件。

4.3            权威性； 协议的约束力母公司和每个合并子公司具有签订并履行本协议项下的义务以及完成所述交易的必要公司权力及权威。母公司董事会已经： (a)确定所述交易对母公司及其股东是公平的、明智的，并且符合母公司及其股东的最佳利益， (b)批准并认为本协议和所述交易是明智的，包括根据本协议向公司股东发行母公司股本股份， (c)确定在本协议规定的条件下，根据所述交易推荐母公司股东投票批准所述交易，并且如母公司和公司认为必要时，由母公司及公司根据本协议的条款就(1)将母公司更名为“Crescent Biopharma, Inc.”、(2)实施纳斯达克逆向拆分以及(3)进行其他双方同意的变更的公司章程修正进行表决。第一合并子公司董事会（通过全体一致书面同意）已经： (x)确定所述交易对第一合并子公司及其唯一股东是公平的、明智的，并且符合最佳利益， (y)认为并批准本协议和所述交易是明智的，并且(z)确定在本协议规定的条款下推荐第一合并子公司股东投票通过本协议并因此批准所述交易。第二合并子公司唯一成员（通过全体一致书面同意）已经： (A)确定所述交易对第二合并子公司及唯一成员是公平的、明智的，并且符合最佳利益；并且(B)认为并批准本协议和所述交易。本协议已由母公司和合并子公司妥善签署并交付，假定公司已根据 第3.23节在法律上，构成对母公司和合并子公司履行其义务的合法、有效且具约束力，在符合条款的情况下，受可强制实施例外情况的限制。

4.4            所需表决。假设在这个章节的表述准确无误 第3.23节，在母公司股东大会上，只需获得母公司普通股股东中正确投票的多数股份即可批准本协议，从而批准拟议交易和“母公司章程修订”定义中的(i)、(ii)和(iii)条款（统称为“所需的母公司股东投票”).

4.5            非违反； 同意.

(a)在获得要求的大股东投票、符合适用的HSR法案要求（如果适用）和提交DGCL或DLLCA要求的合并证书和指定证明书，并假设陈述的准确性。 章节 ‎3.23，无论是(x) 父公司或合并公司签署、交付或履行本协议，还是(y) 完成拟议交易，都不会直接或间接（有或没有通知或经过时间）：

(i)违反， 与父公司或其子公司的组织文件的任何规定发生冲突或导致违反；

(ii)违背、与之冲突或导致对父公司或其子公司拥有或使用的资产受制于的任何法律或法院裁决提出质疑或授予任何行政机关或其他个人挑战所考虑的交易或行使任何补救措施或获得任何救济的权利。

(iii)违反，与父类或其子公司持有或与父类业务有关的任何政府授权相关的条款或要求，或使任何政府机构有权撤销、撤回、暂停、取消、终止或修改父类或其子公司持有的任何政府授权，或与父类拥有、租赁或使用的任何资产相关。

(iv)违背，与或导致违反或违约，或导致任何母公司物资合同的任何条款下发生违约，使任何人有权：(A)宣布违约或在任何母公司物资合同下行使任何救济措施，(B)任何实质支付，回扣，退款，处罚或交货时间表变更，(C)加速任何母公司物资合同的到期或履行或(D)取消，终止或修改任何母公司物资合同的任何条款，但在任何非实质性违约，违约，罚款或修改的情况下除外；或

(v)在对母公司或其子公司拥有或使用的任何资产施加或设立任何负担（除非为允许负担）时的结果。

(b)除非（i）在任何母公司合同的母公司披露函中的任何同意书， （ii）必要的母公司股东投票， （iii）根据DGCL或DLLCA向特拉华州国务卿提交合并证书和指定证书，（iv）遵守HSR法案（如适用）的任何适用要求，以及（v）根据适用的联邦和州证券法律可能需要的同意，豁免，批准，订单，授权，登记，声明和申报，且假定在...的陈述准确无误的情况下，除非父母或其子公司是，或将被要求与，任何人进行任何提交或向，获得任何...的通知... 章节 ‎4.5(a)母公司或其任何子公司未，未或将被要求与任何人联系，在执行、交付或执行本协议，或思考交易的完成... 章节 ‎3.23每个部分或每个部件都是完整的，并保留原有的语法组织，以确保译文与原文的对应关系...请仔细阅读逐字翻译的文本，以便准确理解文本的含义...

(c)假设 表示法的准确性 部分‎3.23，母公司委员会和第一合并分委员会已经采取了 并将采取一切必要行动，确保第203节中适用于企业合并的限制 DGCL 现在和将来都不适用于本协议的执行、交付和履行以及本协议的完成 预期的交易。没有其他州收购法规或类似法律适用于或声称适用于本协议的合并 或任何其他预期的交易。

4.6            资本化 .

(a)母公司的授权股本包括（i）母公司普通股150,000,000股，其中截至2024年9月30日已发行并流通的股份为64,483,958股（“资本化日期”），以及（ii）母公司优先股5,000,000股，每股面值$0.001，但尚未指定。母公司在资本化日期时未发行或流通任何股份优先股。母公司不持有任何股份作为其资本库存。

(b)所有板块的优先普通股已经得到适当授权并已经有效发行，并且全部已支付且免责，并且没有任何除组织文件或适用证券法规定的以外的担保权，没有任何的优先普通股享有或受到任何优先购买权、参与权、维持权或类似权利，且没有任何优先普通股受到任何优先购买权的限制。除本文所述外，不存在任何关于投票或注册的父公司合同，也没有任何限制任何人购买、出售、质押或以其他方式处置（或授予任何关于）父公司优先普通股的合同。母公司没有义务，也不受任何合同约束，根据该合同，可能要求其购回、赎回或以其他方式收回任何未偿还的母公司优先普通股或其他证券。 章节 ‎4.6(b)母公司披露函准确完整地描述了母公司所持有的有关母公司优先普通股的回购权利（包括根据行权期权发行的股份）并指明了其中哪些回购权目前可行使。

(c)除了 适用于母公司2003年股票激励计划、母公司2013年股权激励计划和2020年母公司激励计划（均可能修订） 不时集体地，”母股计划”），除非另有规定 部分‎4.6(c)的 母公司披露信，母公司没有任何股票期权计划或任何其他计划、计划、协议或安排提供 为任何人提供任何基于股权的薪酬。截至资本化日，母公司已预留14,257,627股母公司普通股 根据母公司股票计划发行的股票，其中13,163,469股已发行且目前正在流通，为117,157股 已预留用于在行使或结算母公司期权和母公司限制性股票单位（如适用）时发行 根据母股计划，根据母股计划，仍有977,001股股票可供未来发行。截至资本化 日期，母公司已根据母公司ESPP预留了3,554,364股母公司普通股供未来发行（其中0股） 已发行，目前尚未发行）。 部分‎4.6(c)《家长披露信》中规定 有关截至资本化日未偿还的每份母公司期权的以下信息（如适用）：(i) 名称 持有人的，(ii) 受此类母公司期权和母公司限制性股票单位约束的母公司普通股的数量 截至资本化日，(iii) 该母公司期权的行使价，(iv) 该母公司期权的行使价，(iv) 该母公司期权的日期或 母公司限制性股票单位获得批准，(v) 适用的归属时间表，包括任何加速条款，(vi) 此类母公司期权的到期日期，（vii）该母公司期权是否打算成为 “激励性股票期权” （定义见守则）或不合格股票期权以及（viii）就母公司期权而言，该计划所依据的计划 家长期权已获授权。母公司已根据以下规定向公司提供了股权激励计划的准确而完整的副本 哪家母公司拥有股权奖励、证明此类股权奖励的所有奖励协议的形式以及董事会证据，以及 股东批准母股计划及其任何修正案。

(d)除了优秀的母公司期权和母公司限制性股票单位外，或如所述于 章节 ‎4.6(d)母公司披露信函的图 没有：(i) 未行使的订阅，期权，看涨，认股权证或权利（无论当前是否可以行使）以取得母公司的任何股票或其他证券，（ii） 未行使的证券，工具或可转换为或可交换为母公司股票或其他证券的义务，（iii） 股东权益计划（或通常称为"毒丸"的类似计划）或根据该计划可能被迫出售或以其他方式发行其任何股票或任何其他证券或（iv） 可能引发或提供依据主张的条件或环境任何人可以获得或接收任何母公司股票或其他证券的权利。 母公司没有与其相关的未行使或已授权的股票增值权，虚拟股票，利润分享或其他类似权利。

(e)所有板块的母公司普通股、母公司期权、母公司限制性股票单位和其他证券均已按照（i）所有适用的证券法律和其他适用法律以及（ii）适用合同中规定的所有要求的原则，发行和授予。

(f)就父母期权和父母受限股票单位而言，根据父母股票计划授予的每一份父母期权或父母受限股票单位均于其规定生效日期之前经过必要的公司授权，包括但不限于父母董事会（或其正式组成的授权委员会）或正式授权的管理人员的批准，以及股东按必要票数批准或书面同意（如适用），每一份父母期权和父母受限股票单位授予均按照授予该期权的父母股票计划以及所有其他适用的法律和监管规则或要求进行，每一份父母期权的每股行使价格均不低于适用父母授予日期的一股父母普通股的公允市场价。母公司授予日期就父母期权和父母受限股票单位而言，根据父母股票计划授予的每一份父母期权或父母受限股票单位均于其规定生效日期之前经过必要的公司授权，包括但不限于父母董事会（或其正式组成的授权委员会）或正式授权的管理人员的批准，以及股东按必要票数批准或书面同意（如适用），每一份父母期权和父母受限股票单位授予均按照授予该期权的父母股票计划以及所有其他适用的法律和监管规则或要求进行，每一份父母期权的每股行使价格均不低于适用父母授予日期的一股父母普通股的公允市场价。

4.7            SEC 文件；基本报表.

(a)父公司已准时提交或提交了所有必须向交易所委托或向证券交易委员会提交的所有表单、声明、认证、报告和文件（以下简称“公司委托”）。母公司SEC文件截至提交给证券交易委员会的时间（或者，如果被本协议签署日期之前的某个日期前修正或取代的声明，那么是在该提交日期），每份公司委托在所有重大方面符合证券法或交易所法规的要求，同时在提交时，没有一份公司委托包含任何重大事实的不实陈述或遗漏在其中需陈述的重要事实或为了使其陈述不具有误导性的必要事实。要求（i）根据交易法案第13a-14条和（ii）18 U.S.C. §1350（萨班斯-奥克斯利法案第906条）而需要的针对公司委托的认证和声明（合称“公司认证”）准确完整，并在形式和内容上符合所有适用法律规定。在本文中的使用，“提交”一词及其各种变种应被广泛解释，包括向证券交易委员会提交文件或信息的任何方式。认证豪利公司文件 章节 ‎4.7在这个文件中，“提交”一词及其变种应被广泛解释，包括以任何方式向证券交易委员会提供文件或信息的任何方式。

(b)包含在或通过参考上市公司SEC文件中的财务报表（包括任何相关附注）：(i) 在形式上在所有重大方面符合证券法和《交易法》，适用的SEC规则和法规，并且（ii）按照通用会计准则编制（除非在这些财务报表的附注中注明，或者在未经审计的财务报表的情况下，根据SEC的10-Q表允许，并且未经审计的财务报表可能不包含脚注，并且受到正常和经常性年终调整的影响，这些调整不应该预计会影响金额不大），除非在上述期间指定的情况下在一致基础上应用，（iii）在所有重大方面公正地表述了上市公司于相应日期的财务状况，以及为所涵盖期间的业务结果和现金流量。除非在此前提交给SEC的公司文件中明确披露，否则母公司的会计方法或原则未发生重大变化，这些变化需要根据通用会计准则披露在母公司的财务报表中。母公司及其各附属公司的账簿和其他财务记录在所有重大方面均真实完整。

(c)            Parent’s auditor has at all times since the date of enactment of the Sarbanes-Oxley Act been: (i) a registered public accounting firm (as defined in Section 2(a)(12) of the Sarbanes-Oxley Act), (ii) to the Knowledge of Parent, “independent” with respect to Parent within the meaning of Regulation S-X under the Exchange Act and (iii) to the Knowledge of Parent, in compliance with subsections (g) through (l) of Section 10A of the Exchange Act and the rules and regulations promulgated by the SEC and the Public Company Accounting Oversight Board thereunder.

(d)            Except as set forth on Section ‎4.7(d) of the Parent Disclosure Letter, Parent has not received any comment letter from the SEC or the staff thereof or any correspondence from Nasdaq or the staff thereof relating to the delisting or maintenance of listing of the Parent Common Stock on Nasdaq. Parent has not disclosed any unresolved comments in the Parent SEC Documents.

(e)            There have been no formal internal investigations regarding financial reporting or accounting policies and practices discussed with, reviewed by or initiated at the direction of the chief executive officer, chief financial officer or general counsel of Parent, the Parent Board or any committee thereof, other than ordinary course audits or reviews of accounting policies and practices or internal controls required by the Sarbanes-Oxley Act.

(f)            Parent is in compliance in all material respects with the applicable provisions of the Sarbanes-Oxley Act, the Exchange Act and the applicable listing and governance rules and regulations of Nasdaq.

(g)            Parent maintains a system of internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) that is sufficient to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP, including policies and procedures sufficient to provide reasonable assurance (i) that Parent maintains records that in reasonable detail accurately and fairly reflect Parent’s transactions and dispositions of assets, (ii) that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, (iii) that receipts and expenditures are made only in accordance with the authorization policy and (iv) regarding prevention or timely detection of the unauthorized acquisition, use or disposition of Parent’s assets that could have a material effect on Parent’s financial statements. Parent has evaluated the effectiveness of Parent’s internal control over financial reporting and, to the extent required by applicable Law, presented in any applicable Parent SEC Document that is a report on Form 10-K or Form 10-Q (or any amendment thereto) its conclusions about the effectiveness of the internal control over financial reporting as of the end of the period covered by such report or amendment based on such evaluation. Parent has disclosed to Parent’s auditors and the Audit Committee of the Parent Board (and made available to the Company a summary of the significant aspects of such disclosure) (A) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting that are reasonably likely to adversely affect Parent’s ability to record, process, summarize and report financial information and (B) any fraud, whether or not material, that involves management or other employees who have a significant role in Parent’s or its Subsidiaries’ internal control over financial reporting. Except as disclosed in the Parent SEC Documents filed prior to the date hereof, Parent’s internal control over financial reporting is effective at the reasonable assurance level and Parent has not identified any material weaknesses in the design or operation of Parent’s internal control over financial reporting.

(h)            Parent’s “disclosure controls and procedures” (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) are designed to ensure that all information (both financial and nonfinancial) required to be disclosed by Parent 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 rules and forms of the SEC, and that all such information is accumulated and communicated to Parent’s principal executive officer and principal financial officer as appropriate to allow timely decisions regarding required disclosure and to make the Certifications and such disclosure controls and procedures are effective. Parent has carried out evaluation of the effectiveness of its disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act.

4.8            Absence of Changes. Except as set forth on Section ‎4.8 of the Parent Disclosure Letter, between December 31, 2023 and the date of this Agreement, Parent has conducted its business only in the Ordinary Course of Business (except for the execution and performance of this Agreement and the discussions, negotiations and transactions related thereto) and there has not been any (a) Parent Material Adverse Effect or (b) action, event or occurrence that would have required consent of the Company pursuant to Section ‎Section 5‎(b) of this Agreement had such action, event or occurrence taken place after the execution and delivery of this Agreement.

4.9            Absence of Undisclosed Liabilities. Since December 31, 2023, neither Parent nor any of its Subsidiaries has any Liability except for: (a) Liabilities disclosed, reflected or reserved against in the Parent Balance Sheet, (b) normal and recurring current Liabilities that have been incurred by Parent or its Subsidiaries since the date of the Parent Balance Sheet in the Ordinary Course of Business (none of which relates to any breach of contract, breach of warranty, tort, infringement or violation of Law), (c) Liabilities for performance of obligations of Parent or any of its Subsidiaries under Parent Contracts, (d) Liabilities incurred in connection with the Contemplated Transactions or the Subscription Agreement, and (e) Liabilities described in Section ‎4.9 of the Parent Disclosure Letter.

4.10            Title to Assets. Each of Parent and its Subsidiaries owns, and has good and valid title to, or, in the case of leased properties and assets, valid leasehold interests in, all tangible properties or tangible assets and equipment used or held for use in its business or operations or purported to be owned by it, including: (a) all tangible assets reflected on the Parent Balance Sheet and (b) all other tangible assets reflected in the books and records of Parent as being owned by Parent. All of such assets are owned or, in the case of leased assets, leased by Parent or any of its Subsidiaries free and clear of any Encumbrances, other than Permitted Encumbrances.

4.11            Real Property; Leasehold. Neither Parent nor any of its Subsidiaries owns or has ever owned any real property, nor is Parent party to any agreement to purchase or sell any real property. Parent has made available to the Company (a) an accurate and complete list of all real properties with respect to which Parent directly or indirectly holds a valid leasehold interest as well as any other real estate that is in the possession of or leased by Parent or any of its Subsidiaries and (b) copies of all leases under which any such real property is possessed (the “Parent Real Estate Leases”), each of which is in full force and effect, with no existing material default thereunder by Parent or its Subsidiaries or, to Parent’s Knowledge, the other party thereto.

4.12            Intellectual Property.

(a)            Section ‎4.12(a) of the Parent Disclosure Letter is an accurate, true and complete listing of all Parent Registered IP.

(b)            Section ‎4.12(b) of the Parent Disclosure Letter accurately identifies (i) all Parent Contracts pursuant to which any Parent IP Rights are licensed to Parent (other than (A) any non-customized software that (1) is so licensed solely in executable or object code form pursuant to a nonexclusive, internal use software license and other Intellectual Property associated with such software and (2) is not incorporated into, or material to the development, manufacturing, or distribution of, any of Parent products or services, (B) any Intellectual Property licensed on a nonexclusive basis ancillary to the purchase or use of services, equipment, reagents or other materials, (C) any confidential information provided under confidentiality agreements and (D) agreements between Parent and its employees in Parent’s standard form thereof) and (ii) whether the license or licenses granted to Parent are exclusive or nonexclusive.

(c)            Section ‎4.12(c) of the Parent Disclosure Letter accurately identifies each Parent Contract pursuant to which any Person has been granted any license or covenant not to sue under, or otherwise has received or acquired any right (whether or not currently exercisable) or interest in, any Parent IP Rights (other than (i) any confidential information provided under confidentiality agreements and (ii) any Parent IP Rights nonexclusively licensed to academic collaborators, suppliers or service providers for the sole purpose of enabling such academic collaborator, supplier or service providers to provide services for Parent’s benefit).

(d)            Neither Parent nor any of its Subsidiaries is bound by, and no Parent IP Rights are subject to, any Contract containing any covenant or other provision that in any way limits or restricts the ability of Parent or any of its Subsidiaries to use, exploit, assert, or enforce any Parent IP Rights anywhere in the world.

(e)            Parent or one of its Subsidiaries exclusively owns all right, title, and interest to and in the Parent IP Rights (other than (i) Parent IP Rights licensed to Parent, or co-owned rights each as identified in Section ‎4.12(e) of the Parent Disclosure Letter, (ii) any non-customized software that (A) is licensed to Parent solely in executable or object code form pursuant to a nonexclusive, internal use software license and other Intellectual Property associated with such software and (B) is not incorporated into, or material to the development, manufacturing or distribution of, any of Parent or its Subsidiaries’ products or services and (iii) any Intellectual Property licensed on a nonexclusive basis ancillary to the purchase or use of equipment, reagents or other materials), in each case, free and clear of any Encumbrances (other than Permitted Encumbrances). Without limiting the generality of the foregoing:

(i)            All documents and instruments necessary to register or apply for or renew registration of Parent Registered IP have been validly executed, delivered, and filed in a timely manner with the appropriate Governmental Authority.

(ii)           Each Person who is or was an employee or contractor of Parent or any of its Subsidiaries and who is or was involved in the creation or development of any Intellectual Property for Parent or any of its Subsidiaries has signed a valid, enforceable agreement containing a present assignment of such Intellectual Property to Parent or such Subsidiary and confidentiality provisions protecting trade secrets and confidential information of Parent and its Subsidiaries.

(iii)          To the Knowledge of Parent, no current or former stockholder, officer, director or employee of Parent or any of its Subsidiaries has any claim, right (whether currently exercisable, or exercisable in the future), or interest to or in any Parent IP Rights purported to be owned by Parent. To the Knowledge of Parent, no employee of Parent or any of its Subsidiaries is (a) bound by or otherwise subject to any Contract restricting him or her from performing his or her duties for Parent or such Subsidiary or (b) in breach of any Contract with any former employer or other Person concerning Parent IP Rights purported to be owned by Parent or such Subsidiary or confidentiality provisions protecting trade secrets and confidential information comprising Parent IP Rights purported to be owned by Parent or such Subsidiary.

(iv)          No funding, facilities or personnel of any Governmental Authority were used, directly or indirectly, to develop or create, in whole or in part, any Parent IP Rights in which Parent or any of its Subsidiaries has an ownership interest.

(v)           Parent and each of its Subsidiaries has taken reasonable steps to maintain the confidentiality of and otherwise protect and enforce its rights in all proprietary information that Parent or such Subsidiary holds, or purports to hold, as confidential or a trade secret.

(vi)          Parent or any of its Subsidiaries has not assigned or otherwise transferred ownership of, or agreed to assign or otherwise transfer ownership of, any Parent IP Rights to any other Person.

(f)            Parent has delivered, or made available to the Company, a complete and accurate copy of all material Parent IP Rights Agreements.

(g)            The manufacture, marketing, offering for sale, sale, importation, use or intended use or other disposal of any product as currently sold or under development by Parent does not violate any license or agreement between Parent or its Subsidiaries and any third party in any material respect, and, to the Knowledge of Parent, does not infringe or misappropriate any valid and issued Patent right or other Intellectual Property of any other Person, which infringement or misappropriation would reasonably be expected to have a Parent Material Adverse Effect. To the Knowledge of Parent, no third party is infringing upon any Patents owned by Parent within the Parent IP Rights, or violating any Parent IP Rights Agreement.

(h)            As of the date of this Agreement, Parent is not a party to any Legal Proceeding (including, but not limited to, opposition, interference or other proceeding in any patent or other government office) contesting the validity, ownership or right to use, sell, offer for sale, license or dispose of any Parent IP Rights. Parent has not received any written notice asserting that any Parent Registered IP or the proposed use, sale, offer for sale, license or disposition of any products, methods or processes claimed or covered thereunder infringes or misappropriates or violates the rights of any other Person or that Parent or any of its Subsidiaries have otherwise infringed, misappropriated or otherwise violated any Intellectual Property of any Person.

(i)            To the Knowledge of Parent, no trademark (whether registered or unregistered) or trade name owned, used or applied for by Parent conflicts or interferes with any trademark (whether registered or unregistered) or trade name owned, used or applied for by any other Person except as would not have a Parent Material Adverse Effect. None of the goodwill associated with or inherent in any trademark (whether registered or unregistered) in which Parent has or purports to have an ownership interest has been impaired as determined by Parent in accordance with GAAP.

(j)            Except as may be set forth in the Contracts listed on Section ‎4.12(b), ‎4.12(c) or ‎4.12(k) of the Parent Disclosure Letter or as contained in “off-the-shelf” license agreements entered into in the Ordinary Course of Business by Parent, (i) Parent is not bound by any Contract to indemnify, defend, hold harmless or reimburse any other Person with respect to any Intellectual Property infringement, misappropriation or similar claim which is material to Parent taken as a whole and (ii) Parent has never assumed, or agreed to discharge or otherwise take responsibility for, any existing or potential liability of another Person for infringement, misappropriation or violation of any Intellectual Property right, which assumption, agreement or responsibility remains in force as of the date of this Agreement.

(k)            Neither Parent nor any of its Subsidiaries is party to any Contract that, as a result of such execution, delivery and performance of this Agreement, will cause the grant of any license or other right to any Parent IP Rights, result in breach of, default under or termination of such Contract with respect to any Parent IP Rights, or impair the right of Parent or the Surviving Entity and its Subsidiaries to use, sell or license or enforce any Parent IP Rights or portion thereof, except for the occurrence of any such grant or impairment that would not individually or in the aggregate, reasonably be expected to result in a Parent Material Adverse Effect.

4.13            Agreements, Contracts and Commitments.

(a)            Section ‎4.13 of the Parent Disclosure Letter identifies each Parent Contract that is in effect as of the date of this Agreement other than the Subscription Agreement (each, an “Parent Material Contract” and collectively, the “Parent Material Contracts”):

(i)            each Parent Contract relating to any material bonus, deferred compensation, severance, incentive compensation, pension, profit-sharing or retirement plans, or any other employee benefit plans or arrangements;

(ii)           each Parent Contract requiring payments by Parent after the date of this Agreement in excess of $100,000 pursuant to its express terms relating to the employment of, or the performance of employment-related services by, any Parent Associate providing employment related, consulting or independent contractor services, not terminable by Parent on thirty (30) calendar days’ or less notice without liability;

(iii)          each Parent Contract relating to any agreement or plan, including any option plan, stock appreciation right plan or stock purchase plan, any of the benefits of which will be increased or the vesting of benefits of which will be accelerated, by the occurrence of any of the Contemplated Transactions (either alone or in conjunction with any other event, such as termination of employment), or the value of any of the benefits of which will be calculated on the basis of any of the Contemplated Transactions;

(iv)          each Parent Contract relating to any agreement of indemnification or guaranty not entered into in the Ordinary Course of Business;

(v)           each Parent Contract containing (A) any covenant limiting the freedom of Parent or any of its Subsidiaries to engage in any line of business or compete with any Person, or limiting the development, manufacture or distribution of the Parent’s products or services (B) any most-favored pricing arrangement, (C) any exclusivity provision or (D) any non-solicitation provision;

(vi)          each Parent Contract (A) pursuant to which any Person granted Parent an exclusive license under any Intellectual Property, or (B) pursuant to which Parent granted any Person an exclusive license under any Parent IP Rights;

(vii)         each Parent Contract containing any royalty, dividend or similar arrangement based on the revenues or profits of Parent, any of its Subsidiaries, or of a product;

(viii)        each Parent Contract relating to capital expenditures and requiring payments after the date of this Agreement in excess of $100,000 pursuant to its express terms and not cancelable without penalty;

(ix)          each Parent Contract relating to the disposition or acquisition of material assets or any ownership interest in any Entity, in each case, involving payments in excess of $100,000 after the date of this Agreement;

(x)           each Parent Contract entered into in settlement of any Legal Proceeding or other dispute pursuant to which Parent or any of its Subsidiaries has outstanding obligations to pay consideration in excess of $100,000;

(xi)          each Parent Contract relating to any mortgages, indentures, loans, notes or credit agreements, security agreements or other agreements or instruments relating to the borrowing of money or extension of credit in excess of $100,000 or creating any material Encumbrances with respect to any assets of Parent or any loans or debt obligations with officers or directors of Parent;

(xii)         each Parent Contract requiring payment by or to Parent after the date of this Agreement in excess of $100,000 pursuant to its express terms relating to: (A) any distribution agreement (identifying any that contain exclusivity provisions), (B) any agreement involving provision of services or products with respect to any pre-clinical or clinical development activities of Parent, (C) any dealer, distributor, joint marketing, alliance, joint venture, cooperation, development or other agreement currently in force under which Parent or any of its Subsidiaries has continuing obligations to develop or market any product, technology or service, or any agreement pursuant to which Parent or any of its Subsidiaries has continuing obligations to develop any Intellectual Property that will not be owned, in whole or in part, by Parent or such Subsidiary or (D) any Contract to license any patent, trademark registration, service mark registration, trade name or copyright registration to or from any third party to manufacture or produce any product, service or technology of Parent or any of its Subsidiaries or any Contract to sell, distribute or commercialize any products or service of Parent or any of its Subsidiaries, in each case, except for Parent Contracts entered into in the Ordinary Course of Business;

(xiii)        each Parent Contract with any Person, including any financial advisor, broker, finder, investment banker or other Person, providing advisory services to Parent in connection with the Contemplated Transactions and requiring payments by Parent after the date in this Agreement in excess of $100,000 pursuant to its express terms;

(xiv)        each Parent Contract to which Parent or any of its Subsidiaries is a party or by which any of their assets and properties is currently bound (other than Parent Real Estate Leases), which involves annual obligations of payment by, or annual payments to, Parent or such Subsidiary in excess of $100,000;

(xv)         any Parent Real Estate Lease;

(xvi)        a Contract disclosed in or required to be disclosed in Section ‎4.12(b) or Section ‎4.12(c) of the Parent Disclosure Letter; or

(xvii)       any other Parent Contract (other than Parent Real Estate Leases) that is not terminable at will (with no penalty or payment) by Parent or any of its Subsidiaries, and (A) which involves payment or receipt by Parent or such Subsidiary after the date of this Agreement under any such agreement, contract or commitment of more than $100,000 in the aggregate, or obligations after the date of this Agreement in excess of $100,000 in the aggregate or (B) that is material to the business or operations of Parent and its Subsidiaries taken as a whole.

(b)            Parent has delivered or made available to the Company accurate and complete copies of all Parent Material Contracts, including all amendments thereto. There are no Parent Material Contracts that are not in written form. Parent has not nor, to Parent’s Knowledge as of the date of this Agreement, has any other party to a Parent Material Contract, breached, violated or defaulted under, or received notice that it breached, violated or defaulted under, any of the terms or conditions of any Parent Material Contract in such a manner, and, if such Parent Material Contract provides for a cure period, Parent or such other party fails to have cured such breach, violation or default, so that any other party or Parent, as the case may be, is permitted to modify, cancel or terminate any such Parent Material Contract, or would permit any other party to seek damages which would reasonably be expected to have a Parent Material Adverse Effect. As to Parent and its Subsidiaries, as of the date of this Agreement, each Parent Material Contract is valid, binding, enforceable and in full force and effect, subject to the Enforceability Exceptions. No Person is renegotiating, or has a right pursuant to the terms of any Parent Material Contract to change, any material amount paid or payable to Parent under any Parent Material Contract or any other material term or provision of any Parent Material Contract.

4.14            Compliance; Permits; Restrictions.

(a)            Parent and each of its Subsidiaries is, and since January 1, 2023, has been in material compliance with all applicable Laws. No investigation, claim, suit, proceeding, audit, Order or other action by any Governmental Authority is pending or, to the Knowledge of Parent, threatened against Parent or any of its Subsidiaries. There is no agreement or Order binding upon Parent or any of its Subsidiaries which (i) has or would reasonably be expected to have the effect of prohibiting or materially impairing any business practice of Parent or any of its Subsidiaries, any acquisition of material property by Parent or any of its Subsidiaries or the conduct of business by Parent or any of its Subsidiaries as currently conducted, (ii) is reasonably likely to have an adverse effect on Parent’s ability to comply with or perform any covenant or obligation under this Agreement or (iii) is reasonably likely to have the effect of preventing, delaying, making illegal or otherwise interfering with the Contemplated Transactions.

(b)            Except for matters regarding the FDA or other Drug/Device Regulatory Agency, each of Parent and its Subsidiaries holds all required Governmental Authorizations that are material to the operation of the business of Parent and Merger Subs as currently conducted (collectively, the “Parent Permits”). Section ‎4.14(b) of the Parent Disclosure Letter identifies each Parent Permit. Each of Parent and its Subsidiaries is in material compliance with the terms of the Parent Permits. No Legal Proceeding is pending or, to the Knowledge of Parent, threatened, which seeks to revoke, substantially limit, suspend or materially modify any Parent Permit. The rights and benefits of each Parent Permit, if any, will be available to Parent and Surviving Entity immediately after the Second Effective Time on terms substantially identical to those enjoyed by Parent and its Subsidiaries as of the date of this Agreement and immediately prior to the First Effective Time.

(c)            There are no Legal Proceedings pending or, to the Knowledge of Parent, threatened with respect to an alleged violation by Parent or any of its Subsidiaries of the FDCA, PHSA, FDA regulations adopted thereunder, the Controlled Substances Act or any other similar Law promulgated by a Drug/Device Regulatory Agency.

(d)            Each of Parent and its Subsidiaries holds all required Governmental Authorizations issuable by any Drug/Device Regulatory Agency necessary for the conduct of the business of Parent and Merger Subs as currently conducted, and, as applicable, the development, testing, manufacturing, processing, storage, labeling, sale, marketing, advertising, distribution and importation or exportation, as currently conducted, of any of its product candidates (the “Parent Product Candidates”) (the “Parent Regulatory Permits”) and no such Parent Regulatory Permit has been (i) revoked, withdrawn, suspended, cancelled or terminated or (ii) modified in any adverse manner other than immaterial adverse modifications. Section ‎4.14(d) of the Parent Disclosure Letter identifies each Parent Regulatory Permit. Parent has timely maintained and is in compliance in all material respects with the Parent Regulatory Permits and neither Parent nor or any of its Subsidiaries has, since January 1, 2023, received any written notice or correspondence or, to the Knowledge of Parent, other communication from any Drug/Device Regulatory Agency regarding (A) any material violation of or failure to comply materially with any term or requirement of any Parent Regulatory Permit or (B) any revocation, withdrawal, suspension, cancellation, termination or material modification of any Parent Regulatory Permit. Parent has made available to the Company all information requested by the Company in Parent’s or its Subsidiaries’ possession or control relating to material Parent Product Candidates and the development, testing, manufacturing, processing, storage, labeling, sale, marketing, advertising, distribution and importation or exportation of the Parent Product Candidates, including, but not limited to, complete copies of the following (to the extent there are any): (x) adverse event reports; pre-clinical, clinical and other study reports and material study data; inspection reports, notices of adverse findings, untitled letters, warning letters, filings and letters and other written correspondence to and from any Drug/Device Regulatory Agency; and meeting minutes with any Drug/Device Regulatory Agency and (y) similar reports, material study data, notices, letters, filings, correspondence and meeting minutes with any other Governmental Authority. All such information are accurate and complete in all material respects.

(e)            All clinical, pre-clinical and other studies and tests conducted by or on behalf of, or sponsored by, Parent or its Subsidiaries, in which Parent or its Subsidiaries or their respective product candidates, including the Parent Product Candidates, have participated were, since January 1, 2023, and, if still pending, are being conducted in accordance in all material respects with standard medical and scientific research procedures, and in compliance in all material respects with the applicable regulations of the Drug/Device Regulatory Agencies and other applicable Law, including 21 C.F.R. Parts 11, 50, 54, 56, 58, 312 and 812. Since January 1, 2023, neither Parent nor any of its Subsidiaries has received any written notices, correspondence, or other communications from any Drug/Device Regulatory Agency requiring or, to the Knowledge of Parent, any action to place a clinical hold order on, or otherwise terminate, delay or suspend any clinical studies conducted by or on behalf of, or sponsored by, Parent or any of its Subsidiaries or in which Parent or any of its Subsidiaries or its current product candidates, including the Parent Product Candidates, have participated. Further, no clinical investigator, researcher or clinical staff participating in any clinical study conducted by or, to the Knowledge of Parent, on behalf of Parent or any of its Subsidiaries has been disqualified from participating in studies involving the Parent Product Candidates, and to the Knowledge of Parent, no such administrative action to disqualify such clinical investigators, researchers or clinical staff has been threatened or is pending.

(f)            Neither Parent nor any of its Subsidiaries and, to the Knowledge of Parent, any contract manufacturer with respect to any Parent Product Candidate is the subject of any pending or, to the Knowledge of Parent, threatened investigation in respect of its business or products by the FDA pursuant to its “Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities” Final Policy set forth in 56 Fed. Reg. 46191 (September 10, 1991) and any amendments thereto or by any other Drug/Device Regulatory Agency under a comparable policy. Neither Parent nor any of its Subsidiaries and, to the Knowledge of Parent, any contract manufacturer, nor their respective officers, employees or agents, with respect to any Parent Product Candidate has committed any acts, made any statement or failed to make any statement, in each case in respect of its business or products that would violate FDA’s “Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities” Final Policy, and any amendments thereto. None of Parent, any of its Subsidiaries, and to the Knowledge of Parent, any contract manufacturer with respect to any Parent Product Candidate, or any of their respective officers, employees or agents is currently or has been debarred, convicted of any crime or is engaging or has engaged in any conduct that could result in a material debarment or exclusion under (i) 21 U.S.C. Section 335a or (ii) any similar applicable Law. To the Knowledge of Parent, no material debarment or exclusionary claims, actions, proceedings or investigations in respect of their business or products are pending or threatened against Parent, any of its Subsidiaries, and to the Knowledge of the Parent, any contract manufacturer with respect to any Parent Product Candidate, or any of its officers, employees or agents.

(g)            All manufacturing operations conducted by, or to the Knowledge of Parent, for the benefit of, Parent or its Subsidiaries in connection with any Parent Product Candidate, since January 1, 2023, have been and are being conducted in compliance in all material respects with applicable Laws, including the FDA’s standards for current good manufacturing practices, including applicable requirements contained in 21 C.F.R. Parts 210 and 211, and the respective counterparts thereof promulgated by Governmental Authorities in countries outside the United States.

(h)            None of Parent, any of its Subsidiaries, and to the Knowledge of Parent, any manufacturing site of a contract manufacturer or laboratory, with respect to any Parent Product Candidate, (i) is subject to a Drug/Device Regulatory Agency shutdown or import or export prohibition or (ii) has received any Form FDA 483, notice of violation, warning letter, untitled letter or similar correspondence or notice from the FDA or other Drug/Device Regulatory Agency alleging or asserting noncompliance with any applicable Law, in each case, that have not been complied with or closed to the satisfaction of the relevant Drug/Device Regulatory Agency, and, to the Knowledge of Parent, neither the FDA nor any other Drug/Device Regulatory Agency is considering such action.

4.15            Legal Proceedings; Orders.

(a)            There is no pending Legal Proceeding and, to the Knowledge of Parent, no Person has threatened in writing to commence any Legal Proceeding: (i) that involves Parent or any of its Subsidiaries or any Parent Associate (in his or her capacity as such) or any of the material assets owned or used by Parent or any of its Subsidiaries or (ii) that challenges, or that may have the effect of preventing, delaying, making illegal or otherwise interfering with, the Contemplated Transactions.

(b)            There is no Order to which Parent or any of its Subsidiaries, or any of the material assets owned or used by Parent or any of its Subsidiaries is subject. To the Knowledge of Parent, no officer or other Parent Key Employee or any of its Subsidiaries is subject to any Order that prohibits such officer or employee from engaging in or continuing in any conduct, activity or practice relating to the business of Parent or any of its Subsidiaries or any material assets owned or used by Parent or any of its Subsidiaries.

4.16            Tax Matters.

(a)            Each of Parent and each of its Subsidiaries has timely filed (or caused to be timely filed) all income Tax Returns and all other material Tax Returns required to be filed by it under applicable Law (taking into account any applicable extensions). All such Tax Returns were true, correct and complete in all material respects. Subject to exceptions as would not be material, no claim has been made by a Governmental Authority in a jurisdiction where Parent or any of its Subsidiaries does not file Tax Returns that Parent or any of its Subsidiaries is subject to taxation by that jurisdiction.

(b)            All material amounts of Taxes due and owing by Parent or any of its Subsidiaries (whether or not shown on any Tax Return) have been timely paid (taking into account any applicable extensions).

(c)            Each of Parent and each of its Subsidiaries has withheld and paid to the appropriate Governmental Authority all material Taxes required to have been withheld and paid in connection with any amounts paid or owing to any employee, independent contractor, creditor, stockholder or other third party.

(d)            There are no Encumbrances for a material amount of Taxes (other Encumbrances described in clause (a) of the definition of “Permitted Encumbrances”) upon any of the assets of Parent or any of its Subsidiaries.

(e)            No deficiencies for a material amount of Taxes with respect to Parent or any of its Subsidiaries have been claimed, proposed or assessed by any Governmental Authority in writing that have not been timely paid in full. There are no pending (or, based on written notice, threatened) material audits, assessments, examinations or other actions for or relating to any liability in respect of Taxes of Parent or any of its Subsidiaries. Neither Parent nor any of its Subsidiaries has granted a waiver of any statute of limitations in respect of a material amount of Taxes or an extension of time with respect to a material Tax assessment or deficiency that, in each case, is currently in effect.

(f)            Neither Parent nor any of its Subsidiaries is a party to any Tax allocation, Tax sharing or similar agreement (including indemnity arrangements), other than Ordinary Course Agreements.

(g)            Neither Parent nor any of its Subsidiaries has been a member of an affiliated group filing a consolidated U.S. federal income Tax Return (other than a group the common parent of which is Parent). Neither Parent nor any of its Subsidiaries has any material Liability for the Taxes of any Person (other than Parent or its Subsidiaries) under Treasury Regulations Section 1.1502-6 (or any similar provision of state, local, or foreign law), as a transferee or successor, or by Contract (other than an Ordinary Course Agreement).

(h)            Neither Parent nor any of its Subsidiaries has distributed stock of another Person, or has had its stock distributed by another Person, in a transaction that was purported or intended to be governed in whole or in part by Section 355 of the Code or Section 361 of the Code.

(i)            Neither Parent nor any of its Subsidiaries has entered into any transaction identified as a “listed transaction” for purposes of Treasury Regulations Sections 1.6011-4(b)(2) or 301.6111-2(b)(2).

(j)            Neither Parent nor any of its Subsidiaries is aware of any facts or circumstances or has taken or agreed to take any action, in each case, that would reasonably be expected to prevent or impede the Intended Tax Treatment.

4.17            Employee and Labor Matters; Benefit Plans.

(a)            The Parent has made available to Company a list setting forth, for each Parent Associate who is an employee of Parent or any of its Subsidiaries, such employee’s name, employer, title, hire date, location, whether full- or part-time, whether active or on leave (and, if on leave, the expected return), whether exempt from the Fair Labor Standards Act and applicable state law, annual salary (or if hourly, hourly rate), most recent annual bonus received and current annual bonus opportunity. The Parent has made available to Company a list setting forth, for each Parent Associate who is an individual independent contractor engaged by Parent or any of its Subsidiaries, such contractor’s name, duties and rate of compensation.

(b)            The employment of Parent’s employees is terminable by Parent at will. Parent has made available to the Company accurate and complete copies of all employee manuals and handbooks, to the extent currently effective and material.

(c)            Parent is not a party to, bound by the terms of, and does not have a duty to bargain under, any collective bargaining agreement or other Contract with a labor organization representing any of its employees, and there are no labor organizations representing or, to the Knowledge of Parent, purporting to represent or seeking to represent any employees of Parent.

(d)            Section ‎4.17(d) of the Parent Disclosure Letter lists all Parent Employee Plans (other than employment arrangements which are terminable “at will” without any contractual obligation on the part of Parent or any of its Subsidiaries to make any severance, termination, change in control or similar payment and that are substantively identical to the employment arrangements made available to the Company).

(e)            Each Parent Employee Plan that is intended to be qualified under Section 401(a) of the Code has received a favorable determination or opinion letter with respect to such qualified status from the IRS. To the Knowledge of Parent, nothing has occurred that would reasonably be expected to adversely affect the qualified status of any such Parent Employee Plan or the exempt status of any related trust.

(f)            Each Parent Employee Plan has been established, maintained and operated in compliance, in all material respects, with its terms all applicable Law, including, without limitation, the Code, ERISA and the Affordable Care Act. No Legal Proceeding (other than those relating to routine claims for benefits) is pending or, to the Knowledge of Parent, threatened with respect to any Parent Employee Plan. All payments and/or contributions required to have been made with respect to all Parent Employee Plans either have been made or have been accrued in accordance with the terms of the applicable Parent Employee Plan and applicable Law.

(g)            Neither Parent nor any of its ERISA Affiliates maintains, contributes to or is required to contribute to, or has, in the past six (6) years, maintained, contributed to or been required to contribute to (i) any “employee benefit plan” that is or was subject to Title IV or Section 302 of ERISA or Section 412 of the Code, (ii) a Multiemployer Plan, (iii) any funded welfare benefit plan within the meaning of Section 419 of the Code, (iv) any Multiple Employer Plan, or (v) any Multiple Employer Welfare Arrangement. Neither Parent nor any of its ERISA Affiliates has ever incurred any liability under Title IV of ERISA.

(h)            No Parent Employee Plan provides for, and neither Parent nor any of its Subsidiaries has promised to provide any, medical or other welfare benefits to any service provider beyond termination of service or retirement, other than (i) pursuant to COBRA or an analogous state law requirement or (ii) continuation coverage through the end of the month in which such termination or retirement occurs. Parent does not sponsor or maintain any self-funded medical or long-term disability benefit plan.

(i)            No Parent Employee Plan is subject to any law of a foreign jurisdiction outside of the United States.

(j)            Each Parent Employee Plan that constitutes in any part a “nonqualified deferred compensation plan” (as such term is defined under Section 409A(d)(1) of the Code and the guidance thereunder) (each, a “Parent 409A Plan”) has been operated and maintained in all material respects in operational and documentary compliance with the requirements of Section 409A of the Code and the applicable guidance thereunder. No payment to be made under any Parent 409A Plan is or, when made in accordance with the terms of the Parent 409A Plan, will be subject to the penalties of Section 409A(a)(1) of the Code.

(k)            Parent is in material compliance with all Employment-Related Laws and in each case, with respect to the employees of Parent: (i) has withheld and reported all material amounts required by law or by agreement to be withheld and reported with respect to wages, salaries and other payments to employees, (ii) is not liable for any material amounts of arrears of wages, severance pay or any Taxes or any penalty for failure to comply with any of the foregoing and (iii) is not liable for any material payment to any trust or other fund governed by or maintained by or on behalf of any Governmental Authority, with respect to unemployment compensation benefits, social security or other benefits or obligations for employees (other than routine payments to be made in the Ordinary Course of Business). There are no material Legal Proceedings, claims, labor disputes or organizing activities, or grievances pending or, to the Knowledge of Parent, threatened or reasonably anticipated against or involving Parent or any trustee of Parent relating to any employee, contingent worker, director, employment agreement or Parent Employee Plan (other than routine claims for benefits) or Employment-Related Laws. To the Knowledge of Parent, there are no material pending or threatened or reasonably anticipated claims or actions against Parent, any Parent trustee or any trustee of any Subsidiary of Parent under any workers’ compensation policy or long-term disability policy. Parent is not a party to a conciliation agreement, consent decree or other agreement or Order with any federal, state or local agency or Governmental Authority with respect to employment practices.

(l)            Parent has no material liability with respect to any misclassification within the past three (3) years of: (i) any Person as an independent contractor rather than as an employee, (ii) any employee leased from another employer or (iii) any employee currently or formerly classified as exempt from overtime wages. Parent has not taken any action which would constitute a “plant closing” or “mass layoff” within the meaning of the WARN Act, issued any notification of a plant closing or mass layoff required by the WARN Act (nor has Parent been under any requirement or obligation to issue any such notification), or incurred any liability or obligation under the WARN Act that remains unsatisfied.

(m)            To the Knowledge of Parent, there has never been, nor has there been any threat of, any strike, slowdown, work stoppage, lockout, job action, union, organizing activity, question concerning representation or any similar activity or dispute, with respect to any Parent Associate. No event has occurred within the past six months, and no condition or circumstance exists, that, to the Knowledge of Parent, might directly or indirectly be likely to give rise to or provide a basis for the commencement of any such strike, slowdown, work stoppage, lockout, job action, union organizing activity, question concerning representation or any similar activity or dispute.

(n)            Parent is not, nor has Parent been, engaged in any material unfair labor practice within the meaning of the National Labor Relations Act. There is no material Legal Proceeding, claim, labor dispute or grievance pending or, to the Knowledge of Parent, threatened or reasonably anticipated relating to any employment contract, privacy right, labor dispute, wages and hours, leave of absence, plant closing notification, workers’ compensation policy, long-term disability policy, harassment, retaliation, immigration, employment statute or regulation, safety or discrimination matter involving any current or former employee of Parent, including charges of unfair labor practices or discrimination complaints.

(o)            There is no contract, agreement, plan or arrangement to which Parent or any of its Subsidiaries is a party or by which it is bound to compensate any of its employees or other service providers for any income or excise taxes paid pursuant to the Code, including, but not limited to, Section 4999 or Section 409A of the Code.

(p)            Neither Parent nor any of its Subsidiaries is a party to any Contract that as a result of the execution and delivery of this Agreement, the stockholder approval of this Agreement, nor the consummation of the transactions contemplated hereby, could (either alone or in conjunction with any other event) (i) result in the payment of any “parachute payment” within the meaning of Section 280G of the Code or (ii) result in, or cause the accelerated vesting, payment, funding or delivery of, or increase the amount or value of, any payment or benefit to any employee, officer, director or other service provider of Parent or any of its Subsidiaries.

4.18            Environmental Matters. Since January 1, 2023, Parent and each of its Subsidiaries has complied with all applicable Environmental Laws, which compliance includes the possession by Parent of all permits and other Governmental Authorizations required under applicable Environmental Laws and compliance with the terms and conditions thereof, except for any failure to be in compliance that, individually or in the aggregate, would not result in a Parent Material Adverse Effect. Neither Parent nor any of its Subsidiaries has received since January 1, 2023, any written notice or other communication (in writing or otherwise), whether from a Governmental Authority, citizens group, employee or otherwise, that alleges that Parent or any of its Subsidiaries is not in compliance with any Environmental Law, and, to the Knowledge of Parent, there are no circumstances that may prevent or interfere with Parent’s or any of its Subsidiaries’ compliance with any Environmental Law in the future, except where such failure to comply would not reasonably be expected to have a Parent Material Adverse Effect. To the Knowledge of Parent: (i) no current or prior owner of any property leased or controlled by Parent or any of its Subsidiaries has received since January 1, 2023, any written notice or other communication relating to property owned or leased at any time by Parent or any of its Subsidiaries, whether from a Governmental Authority, citizens group, employee or otherwise, that alleges that such current or prior owner or Parent or any of its Subsidiaries is not in compliance with or violated any Environmental Law relating to such property and (ii) neither Parent nor any of its Subsidiaries has any material liability under any Environmental Law. Parent has made available all environmental site assessments, environmental audits and other material environmental documents in the Parent’s possession or control relating to the Parent and its Subsidiaries, including the Parent’s and its Subsidiaries’ business and current or former facilities.

4.19            Insurance. Parent has delivered to the Company accurate and complete copies of all material insurance policies and all material self-insurance programs and arrangements relating to the business, assets, liabilities and operations of Parent and its Subsidiaries (including Merger Subs). Each of such insurance policies is in full force and effect and Parent and its Subsidiaries (including Merger Subs) are in compliance in all material respects with the terms thereof. Other than customary end of policy notifications from insurance carriers, since January 1, 2023, neither Parent nor any of its Subsidiaries has received any notice or other communication regarding any actual or possible: (i) cancellation or invalidation of any insurance policy or (ii) refusal or denial of any coverage, reservation of rights or rejection of any material claim under any insurance policy. Each of Parent and its Subsidiaries (including Merger Subs) has provided timely written notice to the appropriate insurance carrier(s) of each Legal Proceeding pending against Parent or such Subsidiary for which Parent or such Subsidiary has insurance coverage, and no such carrier has issued a denial of coverage or a reservation of rights with respect to any such Legal Proceeding, or informed Parent or any of its Subsidiaries of its intent to do so.

4.20            Transactions with Affiliates. Except as set forth in the Parent SEC Documents filed prior to the date of this Agreement, since the date of Parent’s last proxy statement filed with the SEC, no event has occurred that would be required to be reported by Parent pursuant to Item 404 of Regulation S-K promulgated by the SEC. Section ‎4.20 of the Parent Disclosure Letter identifies each Person who is (or who may be deemed to be) an Affiliate of Parent as of the date of this Agreement.

4.21            No Financial Advisors. Except as set forth on Section ‎4.21 of the Parent Disclosure Letter, no broker, finder or investment banker is entitled to any brokerage fee, finder’s fee, opinion fee, success fee, transaction fee or other fee or commission in connection with the Contemplated Transactions based upon arrangements made by or on behalf of Parent.

4.22            Valid Issuance. The Parent Capital Stock (including any Parent Common Stock issuable upon conversion thereof) to be issued in the Merger will, when issued in accordance with the provisions of this Agreement, be validly issued, fully paid and nonassessable. The Parent Common Stock issuable upon conversion of any Parent Capital Stock has been duly reserved for issuance, and upon issuance in accordance with the terms of the Certificate of Designation, will be validly issued, fully paid and nonassessable.

4.23            Privacy and Data Security. Parent and its Subsidiaries are and since January 1, 2023, have been in compliance with all applicable Privacy Laws and the applicable terms of any Parent Contracts governing privacy, data protection, data security, trans-border data flow, data loss, data theft, or breach notification, data localization, sending solicited or unsolicited electronic mail or text messages, cookies or other tracking technology, or the collection, handling, use, maintenance, storage, disclosure, transfer, or other processing of, Personal Information (including any such information of individuals, clinical trial participants, patients, patient family members, caregivers or advocates, physicians and other health care professionals, clinical trial investigators, researchers, pharmacists that interact with Parent or any of its Subsidiaries in connection with the operation of Parent’s and its Subsidiaries’ business), except, in each case, for such noncompliance as has not had, and would not reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect. To the Knowledge of Parent, Parent (i) has implemented and maintains reasonable Privacy Policies that materially comply with applicable Privacy Laws and are designed to protect the privacy and security of Personal Information and (ii) has complied with such Privacy Policies, except for such noncompliance as has not had, and would not reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect. To the Knowledge of Parent, no Legal Proceeding has been asserted or threatened against Parent by any Person alleging a violation of Privacy Laws, Privacy Policies, or the applicable terms of any Parent Contracts governing privacy, data protection, data security, trans-border data flow, data loss, data theft, or breach notification, data localization, sending solicited or unsolicited electronic mail or text messages, cookies or other tracking technology, or the collection, handling, use, maintenance, storage, disclosure, transfer, or other processing of, Personal Information. To the Knowledge of Parent, there have been no data security incidents or data breaches, or other adverse events or incidents that have resulted in any unauthorized access, use, disclosure, modification or destruction of, Personal Information or other data in the possession or control of Parent or any service provider acting on behalf of Parent, in each case, where such incident, breach, or event has resulted in a notification obligation to any Person under applicable Law or pursuant to the terms of any Parent Contract.

4.24            No Other Representations or Warranties. Parent hereby acknowledges and agrees that, except for the representations and warranties contained in this Agreement, neither the Company nor any of its Subsidiaries nor any other person on behalf of the Company or its Subsidiaries makes any express or implied representation or warranty with respect to the Company or its Subsidiaries or with respect to any other information provided to Parent, Merger Subs or stockholders or any of their respective Affiliates in connection with the Contemplated Transactions, and (subject to the express representations and warranties of the Company set forth in Section 3 (in each case as qualified and limited by the Company Disclosure Letter)) none of Parent, Merger Subs nor any of their respective Representatives or stockholders, has relied on any such information (including the accuracy or completeness thereof).

Section 5. Certain Covenants of the Parties.

5.1            Operation of Parent’s Business.

(a)            Except (i) as expressly contemplated or permitted by this Agreement or the Subscription Agreement, (ii) as set forth in Section ‎5.1(a) of the Parent Disclosure Letter, (iii) as required by applicable Law, or (iv) unless the Company shall otherwise consent in writing (which consent shall not be unreasonably withheld, delayed or conditioned), during the period commencing on the date of this Agreement and continuing until the earlier to occur of the termination of this Agreement pursuant to Section 10 and the First Effective Time (the “Pre-Closing Period”), Parent shall, and shall cause its Subsidiaries to, use commercially reasonable efforts to (x) conduct its business and operations in the Ordinary Course of Business and in material compliance with all applicable Law and the requirements of all Contracts that constitute Parent Material Contracts and (y) continue to pay material outstanding accounts payable and other material current Liabilities (including payroll) when due and payable.

(b)            Except (i) as expressly contemplated or permitted by this Agreement or the Subscription Agreement, (ii) as set forth in Section ‎5.1(b) of the Parent Disclosure Letter, (iii) as required by applicable Law, or (iv) with the prior written consent of the Company (which consent shall not be unreasonably withheld, delayed or conditioned), at all times during the Pre-Closing Period, Parent shall not, nor shall it cause or permit any of Subsidiaries to, do any of the following:

(i)            declare, accrue, set aside or pay any dividend or make any other distribution in respect of any shares of its capital stock or repurchase, redeem or otherwise reacquire any shares of its capital stock or other securities, (except for shares of Parent Common Stock from terminated employees, directors or consultants of Parent);

(ii)           except as required to give effect to anything in contemplation of the Closing, amend any of its Organizational Documents, or effect or be a party to any merger, consolidation, share exchange, business combination, recapitalization, reclassification of shares, stock split, reverse stock split or similar transaction except, for the avoidance of doubt, the Contemplated Transactions;

(iii)          sell, issue, grant, pledge or otherwise dispose of or encumber or authorize the issuance of: (A) any capital stock or other security (except for Parent Common Stock issued upon the valid exercise or settlement of outstanding Parent Options or Parent Restricted Stock Units, as applicable), (B) any option, warrant or right to acquire any capital stock or any other security or (C) any instrument convertible into or exchangeable for any capital stock or other security;

(iv)          form any Subsidiary or acquire any equity interest or other interest in any other Entity or enter into a joint venture with any other Entity;

(v)           (A) lend money to any Person, (B) incur or guarantee any indebtedness for borrowed money, (C) guarantee any debt securities of others or (D) make any capital expenditure or commitment in excess of $25,000;

(vi)          (A) adopt, establish or enter into any Parent Employee Plan, including, for the avoidance of doubt, any equity awards plans, (B) cause or permit any Parent Employee Plan to be amended other than as required by law or in order to make amendments for the purposes of compliance with Section 409A of the Code, (C) pay any bonus or make any profit-sharing or similar payment to (except with respect to obligations in place on the date of this Agreement pursuant to any Parent Employee Plan disclosed to the Company), or increase the amount of the wages, salary, commissions, fringe benefits or other compensation or remuneration payable to, any of its directors, officers, employees or consultants, (D) increase the severance or change of control benefits offered to any current or new employees, directors or consultants, or (E) hire any officer, employee or consultant;

(vii)         acquire any material asset or sell, lease, license or otherwise irrevocably dispose of any of its assets or properties, or grant any Encumbrance with respect to such assets or properties;

(viii)        sell, assign, transfer, license, sublicense or otherwise dispose of any material Parent IP Rights (other than pursuant to non-exclusive licenses in the Ordinary Course of Business);

(ix)          other than in the Ordinary Course of Business: (A) make, change or revoke any material Tax election; (B) file any amended income or other material Tax Return; (C) adopt or change any material accounting method in respect of Taxes; (D) enter into any material Tax closing agreement, settle any material Tax claim or assessment; (E) consent to any extension or waiver of the limitation period applicable to or relating to any material Tax claim or assessment; or (F) surrender any material claim for refund;

(x)           waive, settle or compromise any pending or threatened Legal Proceeding against Parent or any of its Subsidiaries, other than waivers, settlements or agreements (A) for an amount not in excess of $100,000 in the aggregate (excluding amounts to be paid under existing insurance policies or renewals thereof) and (B) that do not impose any material restrictions on the operations or businesses of Parent or its Subsidiaries, taken as a whole, or any equitable relief on, or the admission of wrongdoing by Parent or any of its Subsidiaries;

(xi)          delay or fail to repay when due any material obligation, including accounts payable and accrued expenses;

(xii)         forgive any loans to any Person, including its employees, officers, directors or Affiliate;

(xiii)        terminate or modify in any material respect, or fail to exercise renewal rights with respect to, any material insurance policy;

(xiv)        (A) materially change pricing or royalties or other payments set or charged by Parent or any of Subsidiaries to its customers or licensees or (B) agree to materially change pricing or royalties or other payments set or charged by Persons who have licensed Intellectual Property to Parent or any of Subsidiaries;

(xv)         enter into, amend in a manner adverse to Parent or terminate any Parent Material Contract outside of the Ordinary Course of Business; or

(xvi)        agree, resolve or commit to do any of the foregoing.

Nothing contained in this Agreement shall give the Company, directly or indirectly, the right to control or direct the operations of Parent prior to the First Effective Time. Prior to the First Effective Time, Parent shall exercise, consistent with the terms and conditions of this Agreement, complete unilateral control and supervision over its business operations.

5.2            Operation of the Company’s Business.

(a)            Except (i) as expressly contemplated or permitted by this Agreement, (ii) as set forth in Section ‎5.2(a) of the Company Disclosure Letter, (iii) as required by applicable Law, (iv) with respect to any Interim Financing or Company Acquisition, which are expressly permitted, or (v) unless Parent shall otherwise consent in writing (which consent shall not be unreasonably withheld, delayed or conditioned), during the Pre-Closing Period the Company shall, and shall cause its Subsidiaries to, use commercially reasonable efforts to conduct its business and operations in the Ordinary Course of Business and in material compliance with all applicable Law and the requirements of all Contracts that constitute Company Material Contracts.

(b)            Except (i) as expressly contemplated or permitted by this Agreement, (ii) as set forth in Section ‎5.2(b) of the Company Disclosure Letter, (iii) as required by applicable Law, (iv) in connection with any Interim Financing or Company Acquisition, which are expressly permitted, or (v) with the prior written consent of Parent (which consent shall not be unreasonably withheld, delayed or conditioned), at all times during the Pre-Closing Period, the Company shall not, nor shall it cause or permit any of its Subsidiaries to, do any of the following:

(i)            declare, accrue, set aside or pay any dividend or make any other distribution in respect of any shares of its capital stock; or repurchase, redeem or otherwise reacquire any shares of Company Capital Stock or other securities (except for shares of Company Common Stock from terminated employees, directors or consultants of the Company);

(ii)           except as required to give effect to anything in contemplation of the Closing, amend any of its or its Subsidiaries’ Organizational Documents, or effect or be a party to any merger, consolidation, share exchange, business combination, recapitalization, reclassification of shares, stock split, reverse stock split or similar transaction except, for the avoidance of doubt, the Contemplated Transactions;

(iii)          other than in the Ordinary Course of Business, sell, issue grant, or authorize any of the foregoing actions with respect to more than 25% of the shares of Company Capital Stock outstanding as of the date of this Agreement: (A) any capital stock or other security of the Company or any of its Subsidiaries (except for shares of outstanding Company Common Stock issued upon the valid exercise of Company Options or Company Warrants), (B) any option, warrant or right to acquire any capital stock or any other security or (C) any instrument convertible into or exchangeable for any capital stock or other security of the Company or any of its Subsidiaries;

(iv)          other than in the Ordinary Course of Business, acquire any equity interest or other interest in any other Entity or enter into a joint venture with any other Entity;

(v)           (A) lend money to any Person, (B) incur or guarantee any indebtedness for borrowed money, or (C) guarantee any debt securities of others;

(vi)          sell, lease, license or otherwise irrevocably dispose of any of its assets or properties, or grant any Encumbrance with respect to such assets or properties, except in the Ordinary Course of Business;

(vii)         sell, assign, transfer, license, sublicense or otherwise dispose of any material Company IP Rights (other than pursuant to non-exclusive licenses in the Ordinary Course of Business);

(viii)        waive, settle or compromise any pending or threatened Legal Proceeding against the Company, other than waivers, settlements or agreements (A) for an amount not in excess of $100,000 in the aggregate (excluding amounts to be paid under existing insurance policies or renewals thereof) and (B) that do not impose any material restrictions on the operations or businesses of the Company or any equitable relief on, or the admission of wrongdoing by the Company;

(ix)           enter into, amend in a manner adverse to the Company or terminate any Company Material Contract outside of the Ordinary Course of Business; or

(x)            agree, resolve or commit to do any of the foregoing.

Nothing contained in this Agreement shall give Parent, directly or indirectly, the right to control or direct the operations of the Company prior to the First Effective Time. Prior to the First Effective Time, the Company shall exercise, consistent with the terms and conditions of this Agreement, complete unilateral control and supervision over its business operations.

5.3            Access and Investigation.

(a)            Subject to the terms of the Confidentiality Agreement, which the Parties agree will continue in full force following the date of this Agreement, during the Pre-Closing Period, upon reasonable notice, Parent, on the one hand, and the Company, on the other hand, shall and shall use commercially reasonable efforts to cause such Party’s Representatives to: (a) provide the other Party and such other Party’s Representatives with reasonable access during normal business hours to such Party’s Representatives, personnel, property and assets and to all existing books, records, Tax Returns, work papers and other documents and information relating to such Party and its Subsidiaries, (b) provide the other Party and such other Party’s Representatives with such copies of the existing books, records, Tax Returns, work papers, product data, and other documents and information relating to such Party and its Subsidiaries, and with such additional financial, operating and other data and information regarding such Party and its Subsidiaries as the other Party may reasonably request, (c) permit the other Party’s officers and other employees to meet, upon reasonable notice and during normal business hours, with the chief financial officer and other officers and managers of such Party responsible for such Party’s financial statements and the internal controls of such Party to discuss such matters as the other Party may deem necessary, and (d) make available to the other Party copies of any material notice, report or other document filed with or sent to or received from any Governmental Authority in connection with the Contemplated Transactions. Any investigation conducted by either Parent or the Company pursuant to this Section ‎5.3 shall be conducted in such manner as not to interfere unreasonably with the conduct of the business of the other Party.

(b)            Notwithstanding anything herein to the contrary in this Section ‎5.3, no access or examination contemplated by this Section ‎5.3 shall be permitted to the extent that it would require any Party or its Subsidiaries to waive the attorney-client privilege or attorney work product privilege, or violate any applicable Law; provided, that such Party or its Subsidiary (i) shall be entitled to withhold only such information that may not be provided without causing such violation or waiver, (ii) shall provide to the other Party all related information that may be provided without causing such violation or waiver (including, to the extent permitted, redacted versions of any such information) and (iii) shall enter into such effective and appropriate joint-defense agreements or other protective arrangements as may be reasonably requested by the other Party in order that all such information may be provided to the other Party without causing such violation or waiver.

5.4            No Solicitation.

(a)            Each of Parent and the Company agrees that, during the Pre-Closing Period, neither it nor any of its Subsidiaries shall, nor shall it or any of its Subsidiaries authorize or permit any of its Representatives to, directly or indirectly,: (i) solicit, initiate or knowingly encourage, induce or facilitate the communication, making, submission or announcement of any Acquisition Proposal or Acquisition Inquiry or take any action that could reasonably be expected to lead to an Acquisition Proposal or Acquisition Inquiry, (ii) furnish any non-public information regarding such Party to any Person in connection with or in response to an Acquisition Proposal or Acquisition Inquiry, (iii) engage in discussions or negotiations with any Person with respect to any Acquisition Proposal or Acquisition Inquiry, (iv) execute or enter into any letter of intent or any Contract contemplating or otherwise relating to any Acquisition Transaction or (v) publicly propose to do any of the foregoing; provided, however, that, (x) any public disclosures made in compliance with Section 6.3(e) shall not constitute a violation of this Section 5.4 and (y) notwithstanding anything contained in this Section ‎5.4 and subject to compliance with this Section ‎5.4, prior to the approval of this Agreement by a Party’s stockholders (i.e., the Required Company Stockholder Vote, in the case of the Company and its Subsidiaries, or the Required Parent Stockholder Vote in the case of Parent), such Party may furnish non-public information regarding such Party and its Subsidiaries to, and enter into discussions or negotiations with, any Person in response to a bona fide written Acquisition Proposal by such Person which such Party’s board of directors determines in good faith, after consultation with such Party’s financial advisors and outside legal counsel, constitutes, or is reasonably likely to result in, a Superior Offer (and is not withdrawn) if: (A) such Acquisition Proposal was not obtained or made as a direct or indirect result of a breach of this Agreement, (B) the board of directors of such Party concludes in good faith based on the advice of outside legal counsel, that the failure to take such action would reasonably be expected to be inconsistent with the board of directors’ fiduciary duties under applicable Law, (C) at least two (2) Business Days prior to initially furnishing any such nonpublic information to, or entering into discussions with, such Person, such Party gives the other Party written notice of the identity of such Person and of such Party’s intention to furnish nonpublic information to, or enter into discussions with, such Person, (D) such Party receives from such Person an executed Acceptable Confidentiality Agreement and (E) at least two (2) Business Days prior to furnishing any such nonpublic information to such Person, such Party furnishes such nonpublic information to the other Party (to the extent such information has not been previously furnished by such Party to the other Party). Without limiting the generality of the foregoing, each Party acknowledges and agrees that, in the event any Representative of such Party takes any action that, if taken by such Party, would constitute a breach of this Section ‎5.4 by such Party, the taking of such action by such Representative shall be deemed to constitute a breach of this Section ‎5.4 by such Party for purposes of this Agreement.

(b)            If any Party or any Representative of such Party receives an Acquisition Proposal or Acquisition Inquiry at any time during the Pre-Closing Period, then such Party shall promptly (and in no event later than one (1) Business Day after such Party becomes aware of such Acquisition Proposal or Acquisition Inquiry) advise the other Party in writing of such Acquisition Proposal or Acquisition Inquiry (including the identity of the Person making or submitting such Acquisition Proposal or Acquisition Inquiry, and the terms thereof). Such Party shall keep the other Party reasonably informed with respect to the status and terms of any such Acquisition Proposal or Acquisition Inquiry and any material modification or material proposed modification thereto.

(c)            Each Party shall immediately cease and cause to be terminated any existing discussions, negotiations and communications with any Person that relate to any Acquisition Proposal or Acquisition Inquiry as of the date of this Agreement and request the destruction or return of any nonpublic information provided to such Person.

(d)            For the avoidance of doubt and notwithstanding anything to the contrary in this Section ‎5.4, the Company shall be expressly permitted to take any action with respect to an Interim Financing or a Company Acquisition.

5.5            Notification of Certain Matters. During the Pre-Closing Period, each of the Company, on the one hand, and Parent, on the other hand, shall promptly notify the other (and, if in writing, furnish copies of) if any of the following occurs: (a) any notice or other communication is received from any Person alleging that the Consent of such Person is or may be required in connection with any of the Contemplated Transactions, (b) any Legal Proceeding against or involving or otherwise affecting such Party or its Subsidiaries is commenced, or, to the Knowledge of such Party, threatened against such Party or, to the Knowledge of such Party, any director or officer of such Party, (c) such Party becomes aware of any inaccuracy in any representation or warranty made by such Party in this Agreement or (d) the failure of such Party to comply with any covenant or obligation of such Party; in each case that could reasonably be expected to make the timely satisfaction of any of the conditions set forth in ‎6.19, Section 8 or Section 9, as applicable, impossible or materially less likely. No such notice shall be deemed to supplement or amend the Company Disclosure Letter or the Parent Disclosure Letter for the purpose of (x) determining the accuracy of any of the representations and warranties made by the Company in this Agreement or (y) determining whether any condition set forth in ‎6.19, Section 8 or Section 9 has been satisfied. Any failure by either Party to provide notice pursuant to this Section ‎5.5 shall not be deemed to be a breach for purposes of Section ‎8.2 or Section ‎9.2, as applicable, unless such failure to provide such notice was knowing and intentional.

Section 6. Additional Agreements of the Parties.

6.1            Proxy Statement.

(a)            On or prior to February 14, 2025, Parent shall prepare and file with the SEC a proxy statement relating to the Parent Stockholder Meeting to be held in connection with the Parent Stockholder Matters (together with any amendments thereof or supplements thereto, the “Proxy Statement”). Parent shall use its commercially reasonable efforts to (i) cause the Proxy Statement to comply with applicable rules and regulations promulgated by the SEC and (ii) respond promptly to any comments or requests of the SEC or its staff related to the Proxy Statement.

(b)            Parent covenants and agrees that the Proxy Statement (and the letters to stockholders, notice of meeting and form of proxy included therewith) will (i) comply as to form in all material respects with the requirements of applicable U.S. federal securities Laws and the DGCL, and (ii) will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.

(c)            Parent shall use commercially reasonable efforts to cause the Proxy Statement to be mailed to Parent’s stockholders as promptly as practicable after the Proxy Statement has been filed with the SEC and either (i) the SEC has indicated that it does not intend to review the Proxy Statement or that its review of the Proxy Statement has been completed or (ii) at least ten (10) days shall have passed since the Proxy Statement was filed with the SEC without receiving any correspondence from the SEC commenting upon, or indicating that it intends to review, the Proxy Statement, all in compliance with applicable U.S. federal securities laws and the DGCL. If Parent, First Merger Sub, Second Merger Sub or the Surviving Entity (1) become aware of any event or information that, pursuant to the Securities Act or the Exchange Act, should be disclosed in an amendment or supplement to the Proxy Statement, (2) receives notice of any SEC request for an amendment or supplement to the Proxy Statement or for additional information related thereto, or (3) receives SEC comments on the Proxy Statement, as the case may be, then such Party, as the case may be, shall promptly inform the other Parties thereof and shall cooperate with such other Parties in Parent filing such amendment or supplement with the SEC and, if appropriate, in mailing such amendment or supplement to the Parent stockholders. The Company and its legal counsel shall be given reasonable opportunity to review and comment on the Proxy Statement, including all amendments and supplements thereto, prior to the filing thereof with the SEC, and on the response to any comments of the SEC on the Proxy Statement, prior to the filing thereof with the SEC. Parent may file the Proxy Statement, or any amendment or supplement thereto, without the prior consent of the Company.

(d)            As promptly as reasonably practicable following December 31, 2024, the Company will use commercially reasonable efforts to furnish to Parent audited financial statements for the year ended December 31, 2024 (the “Company Financial Statements”) required to be included in the Proxy Statement.

6.2            Company Stockholder Written Consent.

(a)            Promptly after the date hereof, and in any event no later than two (2) Business Days thereafter, the Company shall obtain the approval by written consent from Company stockholders sufficient for the Required Company Stockholder Vote in lieu of a meeting pursuant to Section 228 of the DGCL, for purposes of (i) adopting and approving this Agreement and the Contemplated Transactions, (ii) acknowledging that the approval given thereby is irrevocable and that such stockholder is aware of its rights to demand appraisal for its shares pursuant to Section 262 of the DGCL, and that such stockholder has received and read a copy of Section 262 of the DGCL and (iii) acknowledging that by its approval of the Merger it is not entitled to appraisal rights with respect to its shares in connection with the Merger and thereby waives any rights to receive payment of the fair value of its capital stock under the DGCL (the “Company Stockholder Written Consents”). Under no circumstances shall the Company assert that any other approval or consent is necessary by its stockholders to approve this Agreement and the Contemplated Transactions.

(b)            Reasonably promptly following receipt of the Required Company Stockholder Vote, the Company shall prepare and mail a notice (the “Stockholder Notice”) to every stockholder of the Company that did not execute the Company Stockholder Written Consent. The Stockholder Notice shall (i) be a statement to the effect that the Company Board determined that the Merger is advisable in accordance with Section 251(b) of the DGCL and in the best interests of the stockholders of the Company and approved and adopted this Agreement, the Merger and the other Contemplated Transactions, (ii) provide the stockholders of the Company to whom it is sent with notice of the actions taken in the Company Stockholder Written Consent, including the adoption and approval of this Agreement, the Merger and the other Contemplated Transactions in accordance with Section 228(e) of the DGCL and the certificate of incorporation and bylaws of the Company and (iii) include a description of the appraisal rights of the Company’s stockholders available under the DGCL, along with such other information as is required thereunder and pursuant to applicable Law. All materials (including any amendments thereto) submitted to the stockholders of the Company in accordance with this Section ‎6.2(b) shall be subject to Parent’s advance review and reasonable approval.

(c)            The Company agrees that, subject to Section ‎6.2(d): (i) the Company Board shall recommend that the Company’s stockholders vote to adopt and approve this Agreement and the Contemplated Transactions and shall use commercially reasonable efforts to solicit such approval within the time set forth in Section ‎6.2(a) (the recommendation of the Company Board that the Company’s stockholders vote to adopt and approve this Agreement being referred to as the “Company Board Recommendation”) and (ii) the Company Board Recommendation shall not be withdrawn or modified (and the Company Board shall not publicly propose to withdraw or modify the Company Board Recommendation) in a manner adverse to Parent, and no resolution by the Company Board or any committee thereof to withdraw or modify the Company Board Recommendation in a manner adverse to Parent or to adopt, approve or recommend (or publicly propose to adopt, approve or recommend) any Acquisition Proposal shall be adopted or proposed.

(d)            Notwithstanding anything to the contrary contained in Section ‎6.2(c), and subject to compliance with Section ‎5.4 and Section ‎6.2, if at any time prior to approval and adoption of this Agreement by the Required Company Stockholder Vote, (i) the Company receives a bona fide written Acquisition Proposal that the Company Board determines, following consultation with its outside legal counsel and financial advisor, to be a Superior Offer, or (ii) as a result of a material development or change in circumstances (other than any such event, development or change to the extent related to (A) any Acquisition Proposal, Acquisition Inquiry, Acquisition Transaction or the consequences thereof or (B) the fact, in and of itself, that the Company meets or exceeds internal budgets, plans or forecasts of its revenues, earnings or other financial performance or results of operations) that affects the business, assets or operations of the Company that occurs or arises after the date of this Agreement (a “Company Intervening Event”), the Company Board may withhold, amend, withdraw or modify the Company Board Recommendation (or publicly propose to withhold, amend, withdraw or modify the Company Board Recommendation) in a manner adverse to Parent (collectively, a “Company Board Adverse Recommendation Change”) if, but only if, (x) in the case of a Superior Offer, following the receipt of and on account of such Superior Offer, (i) the Company Board determines in good faith, based on the advice of its outside legal counsel, that the failure to withhold, amend, withdraw or modify the Company Board Recommendation would reasonably be expected to be inconsistent with its fiduciary duties under applicable Law, (ii) the Company has, during the Notice Period (as defined below), negotiated with Parent in good faith to make such adjustments to the terms and conditions of this Agreement so that such Acquisition Proposal ceases to constitute a Superior Offer and (iii) if, Parent has delivered to the Company a written offer to alter the terms or conditions of this Agreement during the Notice Period, the Company Board shall have determined in good faith, based on the advice of its outside legal counsel and financial advisor, that the failure to withhold, amend, withdraw or modify the Company Board Recommendation would reasonably be expected to be inconsistent with its fiduciary duties under applicable Law (after taking into account such alterations of the terms and conditions of this Agreement); provided that (1) Parent receives written notice from the Company confirming that the Company Board has determined to change its recommendation at least four (4) Business Days in advance of the Company Board Adverse Recommendation Change (the “Notice Period”), which notice shall include a description in reasonable detail of the reasons for such Company Board Adverse Recommendation Change, and written copies of any relevant proposed transaction agreements with any party making a potential Superior Offer, (2) during any Notice Period, Parent shall be entitled to deliver to the Company one or more counterproposals to such Acquisition Proposal and the Company will, and cause its Representatives to, negotiate with Parent in good faith (to the extent Parent desires to negotiate) to make such adjustments in the terms and conditions of this Agreement so that the applicable Acquisition Proposal ceases to constitute a Superior Offer and (3) in the event of any material amendment to any Superior Offer (including any revision in the amount, form or mix of consideration the Company’s stockholders would receive as a result of such potential Superior Offer), the Company shall be required to provide Parent with notice of such material amendment and the Notice Period shall be extended, if applicable, to ensure that at least three (3) Business Days remain in the Notice Period following such notification during which the parties shall comply again with the requirements of this Section ‎6.2(d) and the Company Board shall not make a Company Board Adverse Recommendation Change prior to the end of such Notice Period as so extended (it being understood that there may be multiple extensions) or (y) in the case of a Company Intervening Event, the Company promptly notifies Parent, in writing, within the Notice Period before making a Company Board Adverse Recommendation Change, which notice shall state expressly the material facts and circumstances related to the applicable Company Intervening Event and that the Company Board intends to make a Company Board Adverse Recommendation Change.

(e)            The Company’s obligation to solicit the consent of its stockholders to sign the Company Stockholder Written Consent in accordance with Section ‎6.2(a) shall not be limited or otherwise affected by the commencement, disclosure, announcement or submission of any Superior Offer or other Acquisition Proposal or Acquisition Inquiry, or by any Company Board Adverse Recommendation Change.

6.3            Parent Stockholder Meeting.

(a)            Parent shall take all action necessary under applicable Law to call, give notice of and hold a meeting of the holders of Parent Common Stock to consider and vote to approve (I) the issuance of shares of Parent Capital Stock (including shares of Parent Capital Stock issuable upon conversion thereof) in connection with the Contemplated Transactions for purposes of the listing rules of Nasdaq, and (II) the Parent Charter Amendment (collectively, the “Parent Stockholder Matters” and such meeting, the “Parent Stockholder Meeting”). The Parent Stockholder Meeting shall be held as promptly as practicable after the filing of the Proxy Statements in accordance with Section ‎6.1(a), and in any event, no later than 60 days after the date thereof. Parent shall take reasonable measures to ensure that all proxies solicited in connection with the Parent Stockholder Meeting are solicited in compliance with all applicable Law. Notwithstanding anything to the contrary contained herein, if on the date of the Parent Stockholder Meeting, or a date preceding the date on which the Parent Stockholder Meeting is scheduled, Parent reasonably believes that (i) it will not receive proxies sufficient to obtain the Required Parent Stockholder Vote, whether or not a quorum would be present, (ii) it will not have sufficient shares of Parent Common Stock represented (whether in person or by proxy) to constitute a quorum necessary to conduct the business of the Parent Stockholder Meeting or (iii) that the failure to postpone or adjourn the Parent Stockholder Meeting would reasonably be expected to be inconsistent with its fiduciary obligations under applicable Law, Parent may postpone or adjourn, or make one or more successive postponements or adjournments of, the Parent Stockholder Meeting as long as the date of the Parent Stockholder Meeting is not postponed or adjourned more than an aggregate of 30 days in connection with any postponements or adjournments.

(b)            Parent agrees that (i) the Parent Board shall recommend that the holders of Parent Common Stock vote to approve the Parent Stockholder Matters and shall use commercially reasonable efforts to solicit such approval within the timeframe set forth in Section ‎6.3(a) above and (ii) the Proxy Statement shall include a statement to the effect that the Parent Board recommends that Parent’s stockholders vote to approve the Parent Stockholder Matters (the recommendation of the Parent Board being referred to as the “Parent Board Recommendation”).

(c)            Notwithstanding anything to the contrary contained in Section ‎6.3(b), and subject to compliance with Section ‎5.4 and Section ‎6.3, the Parent Board may withhold, amend, withdraw or modify the Parent Board Recommendation (or publicly propose to withhold, amend, withdraw or modify the Parent Board Recommendation) in a manner adverse to the Company (a “Parent Board Adverse Recommendation Change”) if, at any time prior to approval and adoption of this Agreement by the Required Parent Stockholder Vote, (i) Parent receives a bona fide written Acquisition Proposal that the Parent Board determines, following consultation with its outside legal counsel and financial advisor, to be a Superior Offer or (ii) as a result of a material development or change in circumstances (other than any such event, development or change to the extent related to (A) any Acquisition Proposal, Acquisition Inquiry, Acquisition Transaction or the consequences thereof, or (B) the fact, in and of itself, that Parent meets or exceeds internal budgets, plans or forecasts of its revenues, earnings or other financial performance or results of operations) that affects the business, assets or operations of Parent that occurs or arises after the date of this Agreement (a “Parent Intervening Event”), if, but only if, (x) in the case of a Superior Offer, following the receipt of and on account of such Superior Offer, (i) the Parent Board determines in good faith, based on the advice of its outside legal counsel, that the failure to withhold, amend, withdraw or modify the Parent Board Recommendation would reasonably be expected to be inconsistent with its fiduciary duties under applicable Law, (ii) Parent has, and has caused its financial advisors and outside legal counsel to, during the Parent Notice Period (as defined below), negotiated with the Company in good faith to make such adjustments to the terms and conditions of this Agreement so that such Acquisition Proposal ceases to constitute a Superior Offer, and (iii) if, after the Company has delivered to Parent a written offer to alter the terms or conditions of this Agreement during the Parent Notice Period, the Parent Board shall have determined in good faith, based on the advice of its outside legal counsel and financial advisor, that the failure to withhold, amend, withdraw or modify the Parent Board Recommendation would reasonably be expected to be inconsistent with its fiduciary duties under applicable Law (after taking into account such alterations of the terms and conditions of this Agreement); provided that (1) the Company receives written notice from Parent confirming that the Parent Board has determined to change its recommendation at least four (4) Business Days in advance of the Parent Board Adverse Recommendation Change (the “Parent Notice Period”), which notice shall include a description in reasonable detail of the reasons for such Parent Board Adverse Recommendation Change, and written copies of any relevant proposed transaction agreements with any party making a potential Superior Offer, (2) during any Parent Notice Period, the Company shall be entitled to deliver to Parent one or more counterproposals to such Acquisition Proposal and Parent will, and cause its Representatives to, negotiate with the Company in good faith (to the extent the Company desires to negotiate) to make such adjustments in the terms and conditions of this Agreement so that the applicable Acquisition Proposal ceases to constitute a Superior Offer and (3) in the event of any material amendment to any Superior Offer (including any revision in the amount, form or mix of consideration the Parent’s stockholders would receive as a result of such potential Superior Offer), Parent shall be required to provide the Company with notice of such material amendment and the Parent Notice Period shall be extended, if applicable, to ensure that at least three (3) Business Days remain in the Parent Notice Period following such notification during which the parties shall comply again with the requirements of this Section ‎6.3(c) and the Parent Board shall not make a Parent Board Adverse Recommendation Change prior to the end of such Parent Notice Period as so extended (it being understood that there may be multiple extensions) or (y) in the case of a Parent Intervening Event, Parent promptly notifies the Company, in writing, within the Parent Notice Period before making a Parent Board Adverse Recommendation Change, which notice shall state expressly the material facts and circumstances related to the applicable Parent Intervening Event and that the Parent Board intends to make a Parent Board Adverse Recommendation Change.

(d)            Parent’s obligation to call, give notice of and hold the Parent Stockholder Meeting in accordance with Section ‎6.3(a) shall not be limited or otherwise affected by the commencement, disclosure, announcement or submission of any Superior Offer, Acquisition Proposal or Acquisition Inquiry, or by any Parent Board Adverse Recommendation Change.

(e)            Nothing contained in this Agreement shall prohibit Parent or the Parent Board from (i) complying with Rules 14d-9 and 14e-2(a) promulgated under the Exchange Act; provided, however, that any disclosure made by Parent or the Parent Board pursuant to Rules 14d-9 and 14e-2(a) shall be limited to a statement that Parent is unable to take a position with respect to the bidder’s tender offer unless the Parent Board determines in good faith, after consultation with its outside legal counsel, that such statement would reasonably be expected to be inconsistent with its fiduciary duties under applicable Law; (ii) complying with Item 1012(a) of Regulation M-A promulgated under the Exchange Act; (iii) informing any Person of the existence of the provisions contained in Section 5.4; or (iv) making any disclosure that the Parent Board (or a committee thereof), after consultation with its outside legal counsel, has determined in good faith is required by applicable Law or by any listing or trading rules or regulations of Nasdaq; provided that, in the case of (iv), Parent shall provide the Company with a reasonable opportunity to review any such disclosure not less than two (2) Business Days prior to the making thereof (or, if two Business Days is not reasonably practicable under the circumstances, such shorter period of time as is reasonably practicable under the circumstances) and shall consider in good faith any comments from the Company thereto.

6.4            Efforts; Regulatory Approvals.

(a)            The Parties shall use commercially reasonable efforts to obtain all regulatory approvals required by applicable Law to consummate the Contemplated Transactions. Without limiting the generality of the foregoing, each Party (i) shall make all filings and other submissions (if any) and give all notices (if any) required to be made and given by such Party in connection with the Contemplated Transactions, (ii) shall use commercially reasonable efforts to obtain each Consent (if any) reasonably required to be obtained (pursuant to any applicable Law or Contract, or otherwise) by such Party in connection with the Contemplated Transactions or for such Contract to remain in full force and effect, (iii) shall use commercially reasonable efforts to lift any injunction prohibiting, or any other legal bar to, the Contemplated Transactions and (iv) shall use commercially reasonable efforts to satisfy the conditions precedent to the consummation of this Agreement.

(b)            Notwithstanding the generality of the foregoing, each Party shall use commercially reasonable efforts to file or otherwise submit, as soon as practicable after the date of this Agreement, all applications, notices, reports and other documents reasonably required to be filed by such Party with or otherwise submitted by such Party to any Governmental Authority with respect to the Contemplated Transactions, and to submit promptly any additional information requested by any such Governmental Authority. Without limiting the generality of the foregoing, the Parties shall prepare and file, if required, (a) the notification and report forms required to be filed under the Hart–Scott–Rodino Antitrust Improvements Act of 1976 and (b) any notification or other document required to be filed in connection with the Merger under any applicable foreign Law relating to antitrust or competition matters, no later than ten (10) Business Days after the date the Company and Parent receive notification (in writing or otherwise) from the Federal Trade Commission, the Department of Justice, any state attorney general, foreign antitrust or competition authority or other Governmental Authority that a filing is required in connection with antitrust or competition matters.

(c)            Without limiting the generality of the foregoing, Parent shall give the Company prompt written notice (email being sufficient) of any litigation against Parent and/or its directors relating to this Agreement or the Contemplated Transactions (“Transaction Litigation”) (including by providing copies of all pleadings with respect thereto) and keep the Company reasonably informed with respect to the status thereof. Parent will (i) give the Company the opportunity to participate in, but not control, the defense, settlement or prosecution of any Transaction Litigation (to the extent that the attorney-client privilege is not undermined or otherwise adversely affected; provided that Parent and the Company will use commercially reasonable efforts to find alternative solutions to not undermine or adversely affect the privilege such as entering into common interest agreements, joint defense agreements or similar agreements), (ii) consult with the Company with respect to the defense, settlement and prosecution of any Transaction Litigation and (iii) consider in good faith the Company’s advice with respect to such Transaction Litigation. Parent will obtain the prior written consent of the Company (such consent not to be unreasonably withheld, conditioned or delayed) prior to settling or satisfying any such claim.

6.5            Company Options; Company Warrants.

(a)            At the First Effective Time, Parent shall assume each Company Stock Plan and each Company Option (including any Service Provider Grants), whether vested or unvested, that is outstanding immediately prior to the First Effective Time shall, at the First Effective Time, cease to represent a right to acquire shares of Company Common Stock and shall be converted, at the First Effective Time, into an option to purchase shares of Parent Common Stock (an “Assumed Option”), on the same terms and conditions (including any vesting provisions and any provisions providing for accelerated vesting upon certain events) as were applicable under such Company Option as of immediately prior to the First Effective Time, except for administrative or ministerial changes as determined by the Company Board (or, following the First Effective Time, the Parent Board or compensation committee). The number of shares of Parent Common Stock subject to each such Assumed Option shall be equal to (i) the number of shares of Company Common Stock subject to the respective Company Option immediately prior to the First Effective Time multiplied by (ii) the Exchange Ratio, rounded down, if necessary, to the nearest whole share of Parent Common Stock, and such Assumed Option shall have an exercise price per share (rounded up to the nearest whole cent) equal to (A) the exercise price per share of the Company Common Stock otherwise purchasable pursuant to the respective Company Option immediately prior to the First Effective Time divided by (B) the Exchange Ratio; provided, that in the case of any Company Option to which Section 421 of the Code applies as of immediately prior to the First Effective Time (taking into account the effect of any accelerated vesting thereof, if applicable) by reason of its qualification under Section 422 of the Code, the exercise price, the number of shares of Parent Common Stock subject to such option and the terms and conditions of exercise of such option shall be determined in a manner consistent with the requirements of Section 424(a) of the Code; provided further, that in the case of any Assumed Option to which Section 409A of the Code applies as of the First Effective Time, the exercise price, the number of shares of Parent Common Stock subject to such option and the terms and conditions of exercise of such option shall be determined in a manner consistent with the requirements of Section 409A of the Code in order to avoid the imposition of any additional taxes thereunder. The Company Board shall, prior to the First Effective Time, take all actions necessary to effect the foregoing.

(b)            At the First Effective Time, each Company Warrant, whether vested or unvested, that is outstanding immediately prior to the First Effective Time shall, at the First Effective Time, cease to represent a right to acquire shares of Company Capital Stock and shall be converted, at the First Effective Time, into a warrant to purchase shares of Parent Common Stock (an “Assumed Warrant”), on the same terms and conditions (including any vesting provisions and any provisions providing for accelerated vesting upon certain events) as were applicable under such Assumed Warrant as of immediately prior to the First Effective Time. The number of shares of Parent Common Stock subject to each such Assumed Warrant shall be equal to (i) the number of shares of the Company Common Stock subject to each Assumed Warrant immediately prior to the First Effective Time multiplied by (ii) the Exchange Ratio (rounded up to the next whole share of Parent Common Stock to the extent the aggregate amount of fractional shares of Parent Common Stock such holder of Assumed Warrants would otherwise be entitled to is equal to or exceeds 0.50, and otherwise rounded down), and such Assumed Warrant shall have an exercise price per share (rounded up to the nearest whole cent) equal to (A) the exercise price per share of the Company Common Stock otherwise purchasable pursuant to such Assumed Warrant immediately prior to the First Effective Time divided by (B) the Exchange Ratio.

6.6            Employee Benefits.

(a)            Parent shall comply with the terms of any employment, severance, retention, change of control, or similar agreement specified on Section ‎4.17(d) or contemplated by Section ‎5.1(b) of the Parent Disclosure Letter, subject to the provisions of such agreements. The parties acknowledge and agree that the Merger shall not constitute a “change in control” (or term of similar import) under any Company Employee Plan.

(b)            From and after the First Effective Time, with respect to each benefit plan maintained by Parent or the Surviving Entity that is an “employee welfare benefit plan” as defined in Section 3(1) of ERISA (each, a “Post-Closing Welfare Plan”) in which any current or former employee of Parent is or becomes eligible to participate (including under COBRA), Parent and the Surviving Entity shall use commercially reasonable efforts to cause each such Post-Closing Welfare Plan to (i) waive all limitations as to pre-existing conditions, waiting periods, required physical examinations and exclusions with respect to participation and coverage requirements applicable under such Post-Closing Welfare Plan for such current or former Parent employee and his or her eligible dependents to the same extent that such pre-existing conditions, waiting periods, required physical examinations and exclusions would not have applied or would have been waived under the corresponding Parent Employee Plan in which such current or former Parent employee was a participant immediately prior to his or her commencement of participation in such Post-Closing Welfare Plan, and (ii) provide each such current or former Parent employee and his or her eligible dependents with credit for any co-payments and deductibles paid in the plan year that includes the First Effective Time, and prior to the date that, such current or former Parent employee commences participation in such Post-Closing Welfare Plan in satisfying any applicable co-payment or deductible requirements under such Post-Closing Welfare Plan for the applicable plan year, to the extent that such expenses were recognized for such purposes under the comparable Parent Employee Plan.

(c)            Parent 401(k) Plan. Unless directed otherwise by the Company in writing no less than three (3) Business Days before the Closing Date, Parent shall, at least one (1) Business Day prior to the Closing Date, (i) ceased contributions to, and adopted written resolutions (or taken other necessary and appropriate action(s)) to terminate any Parent Employee Plan that is intended to qualify under Section 401(a) of the Code with a cash or deferred arrangement described in Section 401(k) of the Code (collectively, the “401(k) Plans”) in compliance with such 401(k) Plan’s terms and the requirements of applicable Law, (ii) made all employee and employer contributions to the 401(k) Plans for all periods of service prior to the Closing Date, including such contributions that would have been made on behalf of 401(k) Plan participants had the Merger not occurred (regardless of any service or end-of-year employment requirements) but prorated for the portion of the plan year that ends on the Closing Date, and (iii) 100% vested all participants under the 401(k) Plans, with such termination, contributions and vesting effective no later than one (1) day prior to the Closing Date. Parent shall provide the Company copies of all such corporate actions or documentation related to the same at least three (3) Business Days before their adoption or approval for the Company’s reasonable review and comment.

(d)            Parent Options. As of immediately prior to the First Effective Time, each Parent Option that is then outstanding but not then vested or exercisable shall become immediately vested and exercisable in full. At the First Effective Time, each In the Money Parent Option that is then outstanding shall be canceled and the holder thereof shall be entitled to receive, immediately prior to the First Effective Time a number of shares of Parent Common Stock equal to the number of shares underlying such Parent Option. Notwithstanding anything herein to the contrary, the tax withholding obligations for each holder receiving shares of Parent Common Stock in accordance with the preceding sentence shall be satisfied by Parent withholding from issuance that number of shares of Parent Common Stock calculated by multiplying the legally-required withholding rate for such holder in connection with such issuance by the number of shares of Parent Common Stock to be issued in accordance with the preceding sentence, and rounding up to the nearest whole share and remitting such withholding in cash to the appropriate taxing authorities. At the First Effective Time, each Out of the Money Parent Option shall be cancelled for no consideration. Prior to the Closing, the Parent Board shall have adopted appropriate resolutions and taken all other actions necessary and appropriate to provide for the foregoing.

(e)            Parent Restricted Stock Units. As of immediately prior to the First Effective Time, the Parent Board shall have adopted appropriate resolutions and taken all other actions necessary and appropriate to provide that (i) the vesting of each outstanding and unvested Parent Restricted Stock Unit shall be accelerated in full effective as of immediately prior to the First Effective Time, contingent on the occurrence of the Closing and (ii) for each outstanding and unsettled Parent Restricted Stock Unit (including any Parent Restricted Stock Units accelerated under Section ‎6.6(e)(i) above) the holder thereof shall be entitled to receive, immediately prior to the First Effective Time a number of shares of Parent Common Stock equal to the number of vested and unsettled shares underlying such Parent Restricted Stock Units. Notwithstanding anything herein to the contrary, the tax withholding obligations for each holder receiving shares of Parent Common Stock in accordance with the preceding sentence shall be satisfied by Parent withholding from issuance that number of shares of Parent Common Stock calculated by multiplying the legally-required withholding rate for such holder in connection with such issuance by the number of shares of Parent Common Stock to be issued in accordance with the preceding sentence, and rounding up to the nearest whole share and remitting such withholding in cash to the appropriate taxing authorities. Prior to the Closing, the Parent Board shall have adopted appropriate resolutions and taken all other actions necessary and appropriate to provide for the foregoing.

6.7            Indemnification of Officers and Directors.

(a)            From the First Effective Time through the sixth anniversary of the date on which the First Effective Time occurs, each of Parent and the Surviving Entity shall indemnify and hold harmless each person who is now, or has been at any time prior to the date hereof, or who becomes prior to the First Effective Time, a director or officer of Parent or the Company, respectively (the “D&O Indemnified Parties”), against all claims, losses, liabilities, damages, judgments, fines and reasonable fees, costs and expenses, including attorneys’ fees and disbursements (collectively, “Costs”), incurred in connection with any claim, action, suit, proceeding or investigation, whether civil, criminal, administrative or investigative, arising out of or pertaining to the fact that the D&O Indemnified Party is or was a director or officer of Parent or of the Company, whether asserted or claimed prior to, at or after the First Effective Time, in each case, to the fullest extent permitted under the DGCL. Each D&O Indemnified Party will be entitled to advancement of expenses incurred in the defense of any such claim, action, suit, proceeding or investigation from each of Parent and the Surviving Entity, jointly and severally, upon receipt by Parent or the Surviving Entity from the D&O Indemnified Party of a request therefor; provided that any such person to whom expenses are advanced provides an undertaking to Parent, to the extent then required by the DGCL, to repay such advances if it is ultimately determined that such person is not entitled to indemnification. Without otherwise limiting the D&O Indemnified Parties’ rights with regards to counsel, following the First Effective Time, the D&O Indemnified Parties shall be entitled to continue to retain Sidley Austin LLP or such other counsel selected by the D&O Indemnified Parties.

(b)            The certificate of incorporation and bylaws of the Surviving Entity shall contain, and Parent shall cause the certificate of incorporation and bylaws of the Surviving Entity to so contain, provisions no less favorable with respect to indemnification, advancement of expenses and exculpation of present and former directors and officers as those presently set forth in the certificate of incorporation and bylaws of Parent.

(c)            From and after the First Effective Time, (i) the Surviving Entity shall fulfill and honor in all respects the obligations of the Company to its D&O Indemnified Parties as of immediately prior to the Closing pursuant to any indemnification provisions under the Company’s Organizational Documents and pursuant to any indemnification agreements between the Company and such D&O Indemnified Parties, with respect to claims arising out of matters occurring at or prior to the First Effective Time and (ii) Parent shall fulfill and honor in all respects the obligations of Parent to its D&O Indemnified Parties as of immediately prior to the Closing pursuant to any indemnification provisions under Parent’s Organizational Documents and pursuant to any indemnification agreements between Parent and such D&O Indemnified Parties, with respect to claims arising out of matters occurring at or prior to the First Effective Time.

(d)            From and after the First Effective Time, Parent shall maintain directors’ and officers’ liability insurance policies, with an effective date as of the Closing Date, on commercially reasonable terms and conditions and with coverage limits customary for U.S. public companies similarly situated to Parent. In addition, Parent shall purchase at its sole expense, prior to the First Effective Time, a six (6) year prepaid “D&O tail policy” for the non-cancelable extension of the directors’ and officers’ liability coverage of Parent’s existing directors’ and officers’ insurance policies for a claims reporting or discovery period of at least six (6) years from and after the First Effective Time with respect to any claim related to any period of time at or prior to the First Effective Time with terms, conditions, retentions and limits of liability that are no less favorable than the coverage provided under Parent’s existing policies as of the date of this Agreement, or otherwise acceptable to Parent, except that Parent will not commit or spend on such “D&O Tail policy” annual premiums in excess of 250% of the annual premiums paid by Parent in its last full fiscal year prior to the date hereof for Parent’s current policies of directors’ and officers’ liability insurance and fiduciary liability insurance (nor, for the avoidance of doubt, shall Parent be obligated to spend any specific amount), and if such premiums for such “D&O tail policy” would exceed 250% of such annual premium, then Parent shall purchase policies that provide the maximum coverage available at an annual premium equal to 250% of such annual premium. The Company shall in good faith cooperate with Parent prior to the First Effective Time with respect to the procurement of such “D&O tail policy.”

(e)            From and after the First Effective Time, Parent shall pay all expenses, including reasonable attorneys’ fees, that are incurred by the persons referred to in this Section ‎6.7 in connection with their enforcement of the rights provided to such persons in this Section ‎6.7.

(f)            The provisions of this Section ‎6.7 are intended to be in addition to the rights otherwise available to the current and former officers and directors of Parent and the Company by Law, charter, statute, bylaw or agreement, and shall operate for the benefit of, and shall be enforceable by, each of the D&O Indemnified Parties, their heirs and their Representatives.

(g)            In the event Parent or the Surviving Entity or any of their respective successors or assigns (i) consolidates with or merges into any other Person and shall not be the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfers all or substantially all of its properties and assets to any Person, then, and in each such case, proper provision shall be made so that the successors and assigns of Parent or the Surviving Entity, as the case may be, shall succeed to the obligations set forth in this Section ‎6.7. Parent shall cause the Surviving Entity to perform all of the obligations of the Surviving Entity under this Section ‎6.7.

6.8            Disclosure. The Parties shall use their commercially reasonable efforts to agree to the text of any initial press release and Parent’s Form 8-K announcing the execution and delivery of this Agreement. Without limiting any Party’s obligations under the Confidentiality Agreement, no Party shall, and no Party shall permit any of its Subsidiaries or any of its Representative to, issue any press release or make any public disclosure regarding the Contemplated Transactions unless: (a) the other Party shall have approved such press release or disclosure in writing, such approval not to be unreasonably conditioned, withheld or delayed; or (b) such Party shall have determined in good faith, upon the advice of outside legal counsel, that such disclosure is required by applicable Law and, to the extent practicable, before such press release or disclosure is issued or made, such Party advises the other Party of, and consults with the other Party regarding, the text of such press release or disclosure; provided, however, that each of the Company and Parent may make any public statement in response to specific questions by the press, analysts, investors or those attending industry conferences or financial analyst conference calls, so long as any such statements are consistent with previous press releases, public disclosures or public statements made by the Company or Parent in compliance with this Section ‎6.8. Notwithstanding the foregoing, a Party need not consult with any other Parties in connection with such portion of any press release, public statement or filing to be issued or made pursuant to Section ‎6.2(d) or pursuant to Section ‎6.3(e).

6.9            Listing. At or prior to the First Effective Time, Parent shall use its commercially reasonable efforts to (a) maintain its listing on Nasdaq until the First Effective Time and to obtain approval of the listing of the combined corporation on Nasdaq, (b) to the extent required by the rules and regulations of Nasdaq, prepare and submit to Nasdaq a notification form for the listing of the shares of Parent Common Stock to be issued in connection with the Contemplated Transactions, and to cause such shares to be approved for listing (subject to official notice of issuance); (c) prepare and timely submit to Nasdaq a notification form for the Nasdaq Reverse Split (if required) and to submit a copy of the amendment to Parent’s certificate of incorporation effecting the Nasdaq Reverse Split, certified by the Secretary of State of the State of Delaware, to Nasdaq on the Closing Date; and (d) to the extent required by Nasdaq Marketplace Rule 5110, assist the Company in preparing and filing an initial listing application for the Parent Capital Stock on Nasdaq (including any Parent Common Stock issuable upon conversion thereof) (the “Nasdaq Listing Application”) and to cause such Nasdaq Listing Application to be conditionally approved prior to the First Effective Time. Each Party will reasonably promptly inform the other Party of all verbal or written communications between Nasdaq and such Party or its representatives. The Parties will use commercially reasonable efforts to coordinate with respect to compliance with Nasdaq rules and regulations. The Party not filing the Nasdaq Listing Application will cooperate with the other Party as reasonably requested by such filing Party with respect to the Nasdaq Listing Application and promptly furnish to such filing Party all information concerning itself and its members that may be required or reasonably requested in connection with any action contemplated by this Section ‎6.9. All Nasdaq fees associated with any action contemplated by this Section ‎6.9, including any fees related to the engagement of a consultant (the “Nasdaq Fees”), shall be paid by the Company.

6.10            Tax Matters.

(a)            The Parties shall use reasonable efforts (and each shall cause its Affiliates) to cause the Merger to qualify for the Intended Tax Treatment. No Party shall take any actions, or fail to take any action, which action or failure to act would reasonably be expected to prevent or impede the Intended Tax Treatment. The Parties shall report the Contemplated Transactions for all applicable Tax purposes in a manner that is consistent with the Intended Tax Treatment. No Party shall take any position that is inconsistent with the Intended Tax Treatment during the course of any audit, litigation or other proceeding with respect to Taxes, in each case, unless otherwise required by a determination within the meaning of Section 1313(a) of the Code. The Parties shall comply with the recordkeeping and information reporting requirements imposed on them, including, but not limited to, those set forth in Treasury Regulation Section 1.368-3.

(b)            Parent shall promptly notify the Company if, at any time before the First Effective Time, Parent becomes aware of any fact or circumstance that would reasonably be expected to prevent, cause a failure of, or impede the Intended Tax Treatment. The Company shall promptly notify Parent if, at any time before the First Effective Time, the Company becomes aware of any fact or circumstance that would reasonably be expected to prevent, cause a failure of, or impede the Intended Tax Treatment.

(c)            If the SEC requires that an opinion with respect to the Intended Tax Treatment be prepared and submitted in connection with the Proxy Statement, (i) the Company shall use its reasonable best efforts to cause Gibson, Dunn and Crutcher LLP (or such other nationally recognized law or accounting firm reasonably satisfactory to the Company) to furnish an opinion (as so required and subject to customary assumptions and limitations), (ii) Parent shall use its reasonable best efforts to cause Sidley Austin LLP (or such other nationally recognized law or accounting firm reasonably satisfactory to Parent) to furnish an opinion (as so required and subject to customary assumptions and limitations), and (iii) Parent and the Company shall each deliver to each of Gibson, Dunn and Crutcher LLP (or such other nationally recognized law or accounting firm reasonably satisfactory to the Company) and Sidley Austin LLP (or such other nationally recognized law or accounting firm reasonably satisfactory to Parent) a Tax certificate, dated as of the date the Proxy Statement shall have been declared effective by the SEC and signed by an officer of Parent or the Company, as applicable, containing customary representations and covenants reasonably acceptable to the Company and Parent, as applicable, in each case, as reasonably necessary and appropriate to enable such advisors to render such opinions (the “Tax Certificates”). Each of Parent and the Company shall use its commercially reasonable efforts not to take or cause to be taken any action that would cause to be untrue (or fail to take or cause not to be taken any action which would cause to be untrue) any of the Tax certifications, covenants or representations included in the Tax Certificates.

(d)            Parent and the Company shall reasonably cooperate in the preparation, execution and filing of all Tax Returns, questionnaires, applications or other documents regarding any real property transfer, sales, use, transfer, value added, stock transfer and stamp taxes, and transfer, recording, registration and other fees and similar Taxes which become payable in connection with the Merger that are required or permitted to be filed on or before the First Effective Time. Each of Parent and the Company shall pay, without deduction from any consideration or other amounts payable or otherwise deliverable pursuant to this Agreement and without reimbursement from the other party, any such Taxes or fees imposed on it by any Governmental Authority, which becomes payable in connection with the Merger.

6.11            Legends. Parent shall be entitled to place appropriate legends on the book entries and/or certificates evidencing any shares of Parent Capital Stock to be received in the Merger by equityholders of the Company who may be considered “affiliates” of Parent for purposes of Rules 144 and 145 under the Securities Act reflecting the restrictions set forth in Rules 144 and 145 and to issue appropriate stop transfer instructions to the transfer agent for any such shares of Parent Capital Stock.

6.12            Officers and Directors. Until successors are duly elected or appointed and qualified in accordance with applicable Law, the Parties shall use commercially reasonable efforts and take all necessary action so that the Persons listed on Section ‎6.12 of the Parent Disclosure Letter are elected or appointed, as applicable, to the positions of officers or directors of Parent and the Surviving Entity, as set forth therein, to serve in such positions effective as of the Second Effective Time. If any Person listed on Section ‎6.12 of the Parent Disclosure Letter is unable or unwilling to serve as officer or director of Parent or the Surviving Entity, as set forth therein, the Party appointing such Person (as set forth on Section ‎6.12 of the Parent Disclosure Letter) shall designate a successor. The Parties shall use reasonable best efforts to have each of the Persons that will serve as directors and officers of the Parent following the Closing to execute and deliver a Lock-Up Agreement prior to Closing.

6.13            Termination of Certain Agreements and Rights. Each of Parent and the Company shall cause any stockholder agreements, voting agreements, registration rights agreements, co-sale agreements and any other similar Contracts between either Parent or the Company and any holders of Parent Common Stock or Company Capital Stock, respectively, including any such Contract granting any Person investor rights, rights of first refusal, registration rights or director registration rights, to be terminated immediately prior to the First Effective Time, without any liability being imposed on the part of Parent or the Surviving Entity.

6.14            Section 16 Matters. Prior to the First Effective Time, Parent shall take all such steps as may be required to cause any acquisitions of Parent Common Stock and any options to purchase Parent Common Stock in connection with the Contemplated Transactions, by each individual who is reasonably expected to become subject to the reporting requirements of Section 16(a) of the Exchange Act with respect to Parent, to be exempt under Rule 16b-3 promulgated under the Exchange Act.

6.15            Allocation Information. The Company will prepare and deliver to Parent prior to the Closing a spreadsheet setting forth (as of immediately prior to the First Effective Time) (a) each holder of Company Capital Stock, (b) such holder’s name and address, (c) the number or percentage and type of Company Capital Stock held as of the Closing Date for each such holder and (d) the number of shares of Parent Capital Stock to be issued to such holder pursuant to this Agreement in respect of the Company Capital Stock held by such holder as of immediately prior to the First Effective Time (the “Allocation Certificate”).

6.16            Parent SEC Documents. From the date of this Agreement to the First Effective Time, Parent shall use commercially reasonable efforts to timely file with the SEC all registration statements, proxy statements, Certifications, reports, schedules, exhibits, forms and other documents required to be filed by Parent with the SEC under the Exchange Act or the Securities Act (“SEC Documents”). As of its filing date, or if amended after the date of this Agreement, as of the date of the last such amendment, each SEC Document filed by Parent with the SEC (a) shall comply in all material respects with the applicable requirements of the Exchange Act and the Securities Act, and (b) shall not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.

6.17            Notice of Certain Transactions. As reasonably practicable following the closing of any Interim Financing or Company Acquisition, the Company shall provide notice to Parent (email being sufficient) setting forth in reasonable detail the terms of such Interim Financing or Company Acquisition, including (i) in the case of any Interim Financing, the amount of proceeds actually received by the Company in connection with such Interim Financing and (ii) in the case of any Company Acquisition, the Fair Market Value associated therewith.

6.18            Obligations of Merger Subs. Parent will take all action necessary to cause each Merger Sub to perform its obligations under this Agreement and to consummate the Merger on the terms and conditions set forth in this Agreement.

6.19            Parent Financing. To the extent requested by the Company prior to the Closing, Parent shall use reasonable best efforts to amend, restate and/or supersede the Subscription Agreement, in the manner determined by the Company at the Company’s cost and expense, to allow for the purchase of additional shares (up to $200,000,000 of such additional shares at a price per share no less than the Nasdaq official closing price (as reflected on Nasdaq.com) immediately preceding the signing of such amendment or restatement of the Subscription Agreement or other or superseding subscription agreement) of Parent Common Stock (whether in a second tranche or otherwise) by new or existing investors.

Section 7. Conditions Precedent to Obligations of Each Party.

The obligations of each Party to effect the Merger and otherwise consummate the Contemplated Transactions to be consummated at the Closing are subject to the satisfaction or, to the extent permitted by applicable law, the written waiver by each of the Parties, at or prior to the Closing, of each of the following conditions:

7.1            Regulatory Approvals. Any applicable waiting periods (or any extensions thereof) under the HSR Act (if applicable) shall have expired or otherwise been terminated.

7.2            No Restraints. Any material state securities laws applicable to the issuance of the shares of Parent Capital Stock in connection with the Contemplated Transactions (including any Parent Common Stock issuable upon conversion thereof) shall have been complied with and no Order preventing the consummation of the Contemplated Transactions shall have been issued by any Governmental Authority of competent jurisdiction and remain in effect and there shall not be any Law which has the effect of making the consummation of the Contemplated Transactions illegal.

7.3            Stockholder Approval. (a) Parent shall have obtained the Required Parent Stockholder Vote (but solely with respect to such items as are necessary to consummate the transactions contemplated by this Agreement) and (b) the Company shall have obtained the Required Company Stockholder Vote.

7.4            Listing. The Nasdaq Listing Application shall have been approved by Nasdaq.

7.5            Lock-Up Agreements. The Lock-Up Agreements shall be in full force and effect.

7.6            Parent Charter Amendment. The Parent Charter Amendment shall have been duly filed with the Secretary of State of the State of Delaware, containing at least such amendments as are necessary to consummate the transactions contemplated by this Agreement.

7.7            Certificate of Designation. Parent shall have filed the Certificate of Designation with the Secretary of State of the State of Delaware.

Section 8. Additional Conditions Precedent to Obligations of Parent and Merger Subs.

The obligations of Parent and Merger Subs to effect the Merger and otherwise consummate the transactions to be consummated at the Closing are subject to the satisfaction or the written waiver by Parent, at or prior to the Closing, of each of the following conditions:

8.1            Accuracy of Representations. The Company Fundamental Representations shall have been true and correct in all material respects as of the date of this Agreement and shall be true and correct on and as of the Closing Date with the same force and effect as if made on and as of such date (except to the extent such representations and warranties are specifically made as of a particular date, in which case such representations and warranties shall be true and correct as of such date). The Company Capitalization Representations shall have been true and correct in all respects as of the date of this Agreement and shall be true and correct on and as of the Closing Date with the same force and effect as if made on and as of such date, except, in each case, (x) for such inaccuracies which are de minimis, individually or in the aggregate, (y) for those representations and warranties which address matters only as of a particular date (which representations and warranties shall have been true and correct, subject to the qualifications as set forth in the preceding clause (x), as of such particular date). The representations and warranties of the Company contained in this Agreement (other than the Company Fundamental Representations and the Company Capitalization Representations) shall have been true and correct as of the date of this Agreement and shall be true and correct on and as of the Closing Date with the same force and effect as if made on the Closing Date except (a) in each case, or in the aggregate, where the failure to be so true and correct would not reasonably be expected to have a Company Material Adverse Effect (without giving effect to any references therein to any Company Material Adverse Effect or other materiality qualifications) or (b) for those representations and warranties which address matters only as of a particular date (which representations shall have been true and correct, subject to the qualifications as set forth in the preceding clause (a), as of such particular date) (it being understood that, for purposes of determining the accuracy of such representations and warranties, any update of or modification to the Company Disclosure Letter made or purported to have been made after the date of this Agreement shall be disregarded).

8.2            Performance of Covenants. The Company shall have performed or complied with in all material respects all agreements and covenants required to be performed or complied with by it under this Agreement at or prior to the First Effective Time.

8.3            Documents. Parent shall have received the following documents, each of which shall be in full force and effect:

(a)            a certificate executed by the Chief Executive Officer or Chief Financial Officer of the Company certifying (i) that the conditions set forth in Sections ‎8.1, ‎8.2, ‎8.4, ‎8.5 and ‎8.6 have been duly satisfied and (ii) that the information (other than emails and addresses) set forth in the Allocation Certificate delivered by the company in accordance with Section ‎6.15 is true and accurate in all respects as of the Closing Date;

(b)            a certificate pursuant to Treasury Regulations Sections 1.1445-2(c) and 1.897-2(h), together with a form of notice to the IRS in accordance with the requirements of Treasury Regulations Section 1.897-2(h), in each case, in form and substance reasonably acceptable to Parent;

(c)            the Company Valuation Schedule; and

(d)            the Allocation Certificate.

8.4            No Company Material Adverse Effect. Since the date of this Agreement, there shall not have occurred any Company Material Adverse Effect that is continuing.

8.5            Company Stockholder Written Consent. The Company Stockholder Written Consent executed by the stockholders of the Company shall be in full force and effect.

8.6            Parent Financing. The Subscription Agreement shall be in full force and effect and proceeds of not less than the Minimum Concurrent Investment Amount shall have been received by Parent or will be received by Parent substantially concurrently with the Closing in connection with the consummation of the transactions contemplated by the Subscription Agreement.

Section 9. Additional Conditions Precedent to Obligation of the Company.

The obligations of the Company to effect the Merger and otherwise consummate the transactions to be consummated at the Closing are subject to the satisfaction or the written waiver by the Company, at or prior to the Closing, of each of the following conditions:

9.1            Accuracy of Representations. The Parent Fundamental Representations shall have been true and correct in all material respects as of the date of this Agreement and shall be true and correct on and as of the Closing Date with the same force and effect as if made on and as of such date (except to the extent such representations and warranties are specifically made as of a particular date, in which case such representations and warranties shall be true and correct as of such date). The Parent Capitalization Representations shall have been true and correct in all respects as of the date of this Agreement and shall be true and correct on and as of the Closing Date with the same force and effect as if made on and as of such date, except, in each case, (x) for such inaccuracies which are de minimis, individually or in the aggregate, (y) for those representations and warranties which address matters only as of a particular date (which representations and warranties shall have been true and correct, subject to the qualifications as set forth in the preceding clause (x), as of such particular date). The representations and warranties of Parent and Merger Subs contained in this Agreement (other than the Parent Fundamental Representations and the Parent Capitalization Representations) shall have been true and correct as of the date of this Agreement and shall be true and correct on and as of the Closing Date with the same force and effect as if made on the Closing Date except (a) in each case, or in the aggregate, where the failure to be so true and correct would not reasonably be expected to have a Parent Material Adverse Effect (without giving effect to any references therein to any Parent Material Adverse Effect or other materiality qualifications) or (b) for those representations and warranties which address matters only as of a particular date (which representations shall have been true and correct, subject to the qualifications as set forth in the preceding clause (a), as of such particular date) (it being understood that, for purposes of determining the accuracy of such representations and warranties, any update of or modification to the Parent Disclosure Letter made or purported to have been made after the date of this Agreement shall be disregarded).

9.2            Performance of Covenants. Parent and Merger Subs shall have performed or complied with in all material respects all of their agreements and covenants required to be performed or complied with by each of them under this Agreement at or prior to the First Effective Time.

9.3            Documents. The Company shall have received the following documents, each of which shall be in full force and effect:

(a)            a certificate executed by an executive officer of Parent certifying that the conditions set forth in Sections ‎9.1, ‎9.2 and ‎9.4 have been duly satisfied;

(b)            written resignations in forms satisfactory to the Company, dated as of the Closing Date and effective as of the Closing executed by the officers and directors of Parent who are not to continue as officers or directors of Parent pursuant to Section ‎6.12 hereof; and

(c)            the Parent Net Cash Schedule.

9.4            No Parent Material Adverse Effect. Since the date of this Agreement, there shall not have occurred any Parent Material Adverse Effect that is continuing.

Section 10. Termination.

10.1          Termination. This Agreement may be terminated prior to the First Effective Time (whether before or after adoption of this Agreement by the Company’s stockholders and whether before or after approval of the Parent Stockholder Matters by Parent’s stockholders, unless otherwise specified below):

(a)            by mutual written consent of Parent and the Company;

(b)            by either Parent or the Company if the Merger shall not have been consummated by September 30, 2025 (subject to possible extension as provided in this Section ‎10.1(b), the “End Date”); provided, however, that the right to terminate this Agreement under this Section ‎10.1(b) shall not be available to the Company or Parent if such Party’s (or in the case of Parent, Merger Subs’) action or failure to act has been a principal cause of the failure of the Merger to occur on or before the End Date and such action or failure to act constitutes a breach of this Agreement;

(c)            by either Parent or the Company if a court of competent jurisdiction or other Governmental Authority shall have issued a final and nonappealable Order having the effect of permanently restraining, enjoining or otherwise prohibiting the Contemplated Transactions;

(d)            by Parent if the Required Company Stockholder Vote shall not have been obtained within two (2) Business Days of the date hereof; provided, however, that once the Required Company Stockholder Vote has been obtained (whether timely or not), Parent may not terminate this Agreement pursuant to this Section ‎10.1(d);

(e)            by either Parent or the Company if (i) the Parent Stockholder Meeting (including any adjournments and postponements thereof) shall have been held and completed and Parent’s stockholders shall have taken a final vote on the Parent Stockholder Matters and (ii) the Parent Stockholder Matters shall not have been approved at the Parent Stockholder Meeting (or at any adjournment or postponement thereof) by the Required Parent Stockholder Vote; provided, however, that the right to terminate this Agreement under this Section ‎10.1(e) shall not be available to Parent where the failure to obtain the Required Parent Stockholder Vote shall have been caused by the action or failure to act of Parent and such action or failure to act constitutes a material breach by Parent of this Agreement;

(f)            by the Company (at any time prior to the approval of the Parent Stockholder Matters by the Required Parent Stockholder Vote) if a Parent Triggering Event shall have occurred;

(g)            by Parent (at any time prior to the adoption of this Agreement and the approval of the Contemplated Transactions by the Required Company Stockholder Vote) if a Company Triggering Event shall have occurred;

(h)            by the Company, upon a breach of any representation, warranty, covenant or agreement set forth in this Agreement by Parent or Merger Subs or if any representation or warranty of Parent or Merger Subs shall have become inaccurate, in either case, such that the conditions set forth in Section ‎9.1 or Section ‎9.2 would not be satisfied as of the time of such breach or as of the time such representation or warranty shall have become inaccurate; provided, that the Company is not then in material breach of any representation, warranty, covenant or agreement under this Agreement; provided further, that if such inaccuracy in Parent’s or Merger Subs’ representations and warranties or breach by Parent or Merger Subs is curable by Parent or Merger Subs, then the Company shall not be permitted to terminate this Agreement pursuant to this Section ‎10.1(h) as a result of such particular breach or inaccuracy until the earlier of (i) the expiration of a thirty (30) day period commencing upon delivery of written notice from the Company to Parent or Merger Subs of such breach or inaccuracy and its intention to terminate pursuant to this Section ‎10.1(h) and (ii) Parent or Merger Subs (as applicable) ceasing to exercise commercially reasonable efforts to cure such breach following delivery of written notice from the Company to Parent or Merger Subs of such breach or inaccuracy and its intention to terminate pursuant to this Section ‎10.1(h) (it being understood that the Company shall not be permitted to terminate this Agreement pursuant to this Section ‎10.1(h) as a result of such particular breach or inaccuracy if such breach by Parent or Merger Subs is cured prior to such termination becoming effective);

(i)            by Parent, upon a breach of any representation, warranty, covenant or agreement set forth in this Agreement by the Company or if any representation or warranty of the Company shall have become inaccurate, in either case, such that the conditions set forth in Section ‎8.1 or Section ‎8.2 would not be satisfied as of the time of such breach or as of the time such representation or warranty shall have become inaccurate; provided that Parent is not then in material breach of any representation, warranty, covenant or agreement under this Agreement; provided, further, that if such inaccuracy in the Company’s representations and warranties or breach by the Company is curable by the Company then Parent shall not be permitted to terminate this Agreement pursuant to this Section ‎10.1(i) as a result of such particular breach or inaccuracy until the earlier of (i) the expiration of a thirty (30) day period commencing upon delivery of written notice from Parent to the Company of such breach or inaccuracy and its intention to terminate pursuant to this Section ‎10.1(i) and (ii) the Company ceasing to exercise commercially reasonable efforts to cure such breach following delivery of written notice from Parent to the Company of such breach or inaccuracy and its intention to terminate pursuant to this Section ‎10.1(i) (it being understood that Parent shall not be permitted to terminate this Agreement pursuant to this Section ‎10.1(i) as a result of such particular breach or inaccuracy if such breach by the Company is cured prior to such termination becoming effective); or

(j)            by Parent (at any time prior to the approval of the Parent Stockholder Matters by the Required Parent Stockholder Vote) and following compliance with all of the requirements set forth in the proviso to this Section ‎10.1(j), upon the Parent Board authorizing Parent to enter into a Permitted Alternative Agreement; provided, however, that Parent shall not enter into any Permitted Alternative Agreement unless: (i) Parent shall have complied in all material respects with its obligations under Section ‎5.4 and Section ‎6.3, (ii) the Parent Board shall have determined in good faith, after consultation with its outside legal counsel, that the failure to enter into such Permitted Alternative Agreement would reasonably be expected to be inconsistent with its fiduciary obligations under applicable Law and (iii) Parent shall concurrently pay to the Company the Company Termination Fee in accordance with Section ‎10.3(d).

The Party desiring to terminate this Agreement pursuant to this Section ‎Section 10 (other than pursuant to Section ‎10.1(a)) shall give a notice of such termination to the other Party specifying the provisions hereof pursuant to which such termination is made and the basis therefor described in reasonable detail.

10.2          Effect of Termination. In the event of the termination of this Agreement as provided in Section ‎Section 10, this Agreement shall be of no further force or effect; provided, however, that (a) this Section ‎10.2, Section ‎10.3 and Error! Reference source not found.11 (other than Section ‎11.8) and the related definitions of the defined terms in such sections shall survive the termination of this Agreement and shall remain in full force and effect and (b) the termination of this Agreement and the provisions of Section ‎10.3 shall not relieve any Party of any liability for fraud or for any willful and material breach of any representation, warranty, covenant, obligation or other provision contained in this Agreement.

10.3          Expenses; Termination Fees.

(a)            Except as set forth in this Section ‎10.3 and Section ‎6.9, all fees and expenses incurred in connection with this Agreement and the Contemplated Transactions shall be paid by the Party incurring such expenses, whether or not the Merger is consummated.

(b)            If (i) this Agreement is terminated by Parent or the Company pursuant to Section ‎10.1(e) or by the Company pursuant to Section ‎10.1(f), (ii) at any time after the date of this Agreement and prior to the Parent Stockholder Meeting, a bona fide third party Acquisition Proposal for a change of control transaction with respect to Parent shall have been publicly announced, disclosed or otherwise communicated to the Parent Board (and shall not have been withdrawn) and (iii) within twelve (12) months after the date of such termination, Parent enters into a definitive agreement with respect to a Subsequent Transaction or consummates a Subsequent Transaction (excluding in each case any transactions occurring in connection with the liquidation, dissolution and winding up of Parent), then Parent shall pay to the Company, within ten (10) Business Days after termination (or, if applicable, upon such entry into a definitive agreement or consummation of a Subsequent Transaction), a nonrefundable fee in an amount equal to $320,000 (the “Company Termination Fee”).

(c)            If this Agreement is terminated by the Company (other than pursuant to Section 10.1(e) or Section 10.1(f)), the Company shall pay to Parent, within ten (10) Business Days of such termination, a non-refundable fee in an amount equal to $500,000 for each month (or portion thereof) that has elapsed after May 30, 2025 at the time of such payment; provided that in no event shall the amount of the fee payable by the Company pursuant to this Section 10.3(c) exceed $2,000,000.

(d)            If this Agreement is terminated by Parent pursuant to Section ‎10.1(d), the Company shall pay to Parent, within ten (10) Business Days of such termination, a nonrefundable fee in an amount equal to $2,000,000. If (i) this Agreement is terminated by Parent pursuant to Section ‎10.1(g), (ii) at any time after the date of this Agreement and before obtaining the Required Company Stockholder Vote, a, Acquisition Proposal with respect to the Company shall have been announced, disclosed or otherwise communicated to the Company Board (and shall not have been withdrawn) and (iii) within twelve (12) months after the date of such termination, the Company enters into a definitive agreement with respect to a Subsequent Transaction or consummates a Subsequent Transaction, then the Company shall pay to Parent, within ten (10) Business Days after termination (or, if applicable, upon such entry into a definitive agreement or consummation of a Subsequent Transaction), a nonrefundable fee in an amount equal to $2,000,000.

(e)            If either Party fails to pay when due any amount payable by it under this Section ‎10.3, then (i) such Party shall reimburse the other Party for reasonable costs and expenses (including reasonable fees and disbursements of counsel) incurred in connection with the collection of such overdue amount and the enforcement by the other Party of its rights under this Section ‎10.3 and (ii) such Party shall pay to the other Party interest on such overdue amount (for the period commencing as of the date such overdue amount was originally required to be paid and ending on the date such overdue amount is actually paid to the other Party in full) at a rate per annum equal to the “prime rate” (as announced by Bank of America or any successor thereto) in effect on the date such overdue amount was originally required to be paid plus three percent.

(f)            The Parties agree that, subject to Section ‎10.2, the payment of the fees and expenses set forth in this Section ‎10.3 shall be the sole and exclusive remedy of each Party following a termination of this Agreement under the circumstances described in this Section ‎10.3, it being understood that in no event shall either Parent or the Company be required to pay the individual fees or damages payable pursuant to this Section ‎10.3 on more than one occasion. Subject to Section ‎10.2, following the payment of the fees and expenses set forth in this Section ‎10.3 by a Party, (i) such Party shall have no further liability to the other Party in connection with or arising out of this Agreement or the termination thereof, any breach of this Agreement by the other Party giving rise to such termination, or the failure of the Contemplated Transactions to be consummated, (ii) no other Party or their respective Affiliates shall be entitled to bring or maintain any other claim, action or proceeding against such Party or seek to obtain any recovery, judgment or damages of any kind against such Party (or any partner, member, stockholder, director, officer, employee, Subsidiary, Affiliate, agent or other Representative of such Party) in connection with or arising out of this Agreement or the termination thereof, any breach by such Party giving rise to such termination or the failure of the Contemplated Transactions to be consummated and (iii) all other Parties and their respective Affiliates shall be precluded from any other remedy against such Party and its Affiliates, at law or in equity or otherwise, in connection with or arising out of this Agreement or the termination thereof, any breach by such Party giving rise to such termination or the failure of the Contemplated Transactions to be consummated. Each of the Parties acknowledges that (x) the agreements contained in this Section ‎10.3 are an integral part of the Contemplated Transactions, (y) without these agreements, the Parties would not enter into this Agreement and (z) any amount payable pursuant to this Section ‎10.3 is not a penalty, but rather is liquidated damages in a reasonable amount that will compensate the Parties in the circumstances in which such amount is payable; provided, however, that nothing in this Section ‎10.3(f) shall limit the rights of the Parties under Section ‎11.10.

Section 11. Miscellaneous Provisions.

11.1          Non-Survival of Representations and Warranties. The representations and warranties of the Company, Parent and Merger Subs contained in this Agreement or any certificate or instrument delivered pursuant to this Agreement shall terminate at the First Effective Time, and only the covenants that by their terms survive the First Effective Time and this Section 11 shall survive the First Effective Time.

11.2          Amendment. This Agreement may be amended with the approval of the respective boards of directors of the Company, Merger Subs and Parent at any time (whether before or after the adoption and approval of this Agreement by the Company’s stockholders or before or after obtaining the Required Parent Stockholder Vote); provided, however, that after any such approval of this Agreement by a Party’s stockholders, no amendment shall be made which by Law requires further approval of such stockholders without the further approval of such stockholders. This Agreement may not be amended except by an instrument in writing signed on behalf of each of the Company, Merger Subs and Parent.

11.3          Waiver.

(a)            Any provision hereof may be waived by the waiving Party solely on such Party’s own behalf, without the consent of any other Party. No failure on the part of any Party to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part of any Party in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy.

(b)            No Party shall be deemed to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under this Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument duly executed and delivered on behalf of such Party and any such waiver shall not be applicable or have any effect except in the specific instance in which it is given.

11.4          Entire Agreement; Counterparts; Exchanges by Electronic Transmission. This Agreement and the other schedules, exhibits, certificates, instruments and agreements referred to in this Agreement constitute the entire agreement and supersede all prior agreements and understandings, both written and oral, among or between any of the Parties with respect to the subject matter hereof and thereof; provided, however, that the Confidentiality Agreement shall not be superseded and shall remain in full force and effect in accordance with its terms; provided, further, that only Exhibit D (including Exhibit A to such Exhibit) is incorporated by reference and made a part hereof for purposes of Section 251 of the DGCL. This Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument. The exchange of a fully executed Agreement (in counterparts or otherwise) by all Parties by electronic transmission in PDF format shall be sufficient to bind the Parties to the terms and conditions of this Agreement.

11.5          Applicable Law; Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws. In any action or proceeding between any of the Parties arising out of or relating to this Agreement or any of the Contemplated Transactions, each of the Parties: (a) irrevocably and unconditionally consents and submits to the exclusive jurisdiction and venue of the Court of Chancery of the State of Delaware or, to the extent such court does not have subject matter jurisdiction, the Superior Court of the State of Delaware or the United States District Court for the District of Delaware, (b) agrees that all claims in respect of such action or proceeding shall be heard and determined exclusively in accordance with clause (a) of this Section ‎11.5, (c) waives any objection to laying venue in any such action or proceeding in such courts, (d) waives any objection that such courts are an inconvenient forum or do not have jurisdiction over any Party, (e) agrees that service of process upon such Party in any such action or proceeding shall be effective if notice is given in accordance with Section ‎11.7 of this Agreement and (f) irrevocably and unconditionally waives the right to trial by jury.

11.6          Assignability. This Agreement shall be binding upon, and shall be enforceable by and inure solely to the benefit of, the Parties and their respective successors and permitted assigns; provided, however, that neither this Agreement nor any of a Party’s rights or obligations hereunder may be assigned or delegated by such Party without the prior written consent of the other Party, and any attempted assignment or delegation of this Agreement or any of such rights or obligations by such Party without the other Party’s prior written consent shall be void and of no effect.

11.7          Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly delivered and received hereunder (a) one (1) Business Day after being sent for next Business Day delivery, fees prepaid, via a reputable international overnight courier service, (b) upon delivery in the case of delivery by hand or (c) on the date delivered in the place of delivery if sent by email (with a written or electronic confirmation of delivery) prior to 6:00 p.m. (New York City time), otherwise on the next succeeding Business Day, in each case to the intended recipient as set forth below:

if to Parent or Merger Subs:

GlycoMimetics Inc.

9708 Medical Center Drive

Rockville, Maryland 20850

Attention: Christian Dinneen-Long

Email: cdinneen-long@glycomimetics.com

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

Sidley Austin LLP

787 Seventh Avenue

New York, NY 10019

Attention: Asher M. Rubin; John Butler

Email: arubin@sidley.com; john.butler@sidley.com

if to the Company:

Crescent Biopharma, Inc.

221 Crescent Street, Building 23, Suite 105

Waltham, Massachusetts 02453

Attention: Jonathan Violin

Email: jviolin@crescentbiopharma.com

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

Gibson, Dunn & Crutcher LLP

One Embarcadero Center, Suite 2600
San Francisco, CA 94111
Attention: Ryan Murr, Branden Berns, Chris Trester
Email: rmurr@gibsondunn.com, bberns@gibsondunn.com, ctrester@gibsondunn.com

11.8          Cooperation. Each Party agrees to cooperate fully with the other Party and to execute and deliver such further documents, certificates, agreements and instruments and to take such other actions as may be reasonably requested by the other Party to evidence or reflect the Contemplated Transactions and to carry out the intent and purposes of this Agreement.

11.9          Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions of this Agreement or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction. If a final judgment of a court of competent jurisdiction declares that any term or provision of this Agreement is invalid or unenforceable, the Parties agree that the court making such determination shall have the power to limit such term or provision, to delete specific words or phrases or to replace such term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be valid and enforceable as so modified. In the event such court does not exercise the power granted to it in the prior sentence, the Parties agree to replace such invalid or unenforceable term or provision with a valid and enforceable term or provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable term or provision.

11.10        Other Remedies; Specific Performance. Except as otherwise provided herein, any and all remedies herein expressly conferred upon a Party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such Party, and the exercise by a Party of any one remedy will not preclude the exercise of any other remedy. The Parties agree that irreparable damage for which monetary damages, even if available, would not be an adequate remedy, would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms (including failing to take such actions as are required of it hereunder to consummate this Agreement) or were otherwise breached. It is accordingly agreed that the Parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in the Court of Chancery of the State of Delaware or, to the extent such court does not have subject matter jurisdiction, the Superior Court of the State of Delaware or the United States District Court for the District of Delaware, this being in addition to any other remedy to which they are entitled at law or in equity, and each of the Parties waives any bond, surety or other security that might be required of any other Party with respect thereto. Each of the Parties further agrees that it will not oppose the granting of an injunction, specific performance or other equitable relief on the basis that any other Party has an adequate remedy at law or that any award of specific performance is not an appropriate remedy for any reason at law or in equity.

11.11        No Third-Party Beneficiaries. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person (other than the Parties and the D&O Indemnified Parties to the extent of their respective rights pursuant to Section ‎6.7) any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

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In Witness Whereof, the Parties have caused this Agreement to be executed as of the date first above written.

In Witness Whereof, the Parties have caused this Agreement to be executed as of the date first above written.