<SEC-DOCUMENT>0001104659-21-035040.txt : 20210311
<SEC-HEADER>0001104659-21-035040.hdr.sgml : 20210311
<ACCEPTANCE-DATETIME>20210311163447
ACCESSION NUMBER:		0001104659-21-035040
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20210311
DATE AS OF CHANGE:		20210311
EFFECTIVENESS DATE:		20210311

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CATABASIS PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0001454789
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-254151
		FILM NUMBER:		21733798

	BUSINESS ADDRESS:	
		STREET 1:		100 HIGH STREET
		STREET 2:		28TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-349-1971

	MAIL ADDRESS:	
		STREET 1:		100 HIGH STREET
		STREET 2:		28TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tm219302d3_s8.htm
<DESCRIPTION>S-8
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on March 11, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8in 0pt 0; text-align: right"><B>Registration No.&nbsp;333-</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Catabasis Pharmaceuticals,&nbsp;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 50%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 49%; text-align: center"><FONT STYLE="font-size: 10pt"><B>26-3687168</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction of<BR>
Incorporation or Organization)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer<BR>
Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>100 High Street</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>28th Floor<BR>
        Boston, Massachusetts</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 49%; text-align: center"><BR>
<BR>
<FONT STYLE="font-size: 10pt"><B>02110</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Quellis Biosciences, Inc. 2019 Stock Incentive
Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full Title of the Plan)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Benjamin Harshbarger </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SVP, General Counsel<BR>
100 High Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>28th Floor<BR>
Boston, Massachusetts 02110</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name and Address of Agent For Service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(617) 349-1971</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Telephone Number,&nbsp;Including Area Code,
of Agent For Service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.
See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221;, &#8220;smaller reporting
company&#8221; and &#8220;emerging growth company&#8221; in Rule&nbsp;12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Large&nbsp;accelerated&nbsp;filer&nbsp; </FONT></TD>
    <TD STYLE="width: 31%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 37%; padding-left: 82.1pt; text-indent: -10.1pt"><FONT STYLE="font-size: 10pt">Accelerated&nbsp;filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="width: 14%; padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Non-accelerated filer&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="padding-left: 82.1pt; text-indent: -10.1pt"><FONT STYLE="font-size: 10pt">Smaller&nbsp;reporting&nbsp;company </FONT></TD>
    <TD STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10.1pt; text-indent: -10.1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 10.1pt; text-indent: -10.1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 82.1pt; text-indent: -10.1pt"><FONT STYLE="font-size: 10pt">Emerging growth company </FONT></TD>
    <TD STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section&nbsp;7(a)(2)(B)&nbsp;of the Securities Act.&nbsp; <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="border-bottom: Black medium double; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 38%"><FONT STYLE="font-size: 10pt"><B>Title&nbsp;of&nbsp;Securities<BR>
to&nbsp;be&nbsp;Registered</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 14%"><FONT STYLE="font-size: 10pt"><B>Amount<BR>
to&nbsp;be<BR>
Registered<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 13%"><FONT STYLE="font-size: 10pt"><B>Proposed<BR>
Maximum<BR>
Offering<BR>
Price<BR>
Per&nbsp;Share</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 14%"><FONT STYLE="font-size: 10pt"><B>Proposed<BR>
Maximum<BR>
Aggregate<BR>
Offering<BR>
Price</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 12%"><FONT STYLE="font-size: 10pt"><B>Amount&nbsp;of<BR>
Registration&nbsp;Fee</B></FONT></TD>
    </TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 10.1pt; text-indent: -10.1pt"><FONT STYLE="font-size: 10pt">Common Stock, $0.001 par value per share, subject to assumed stock option awards</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">332,494 shares<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$0.29<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$96,423.26<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$10.52</FONT></TD>
    </TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the &#8220;<U>Securities Act</U>&#8221;),
this Registration Statement shall also cover any additional shares of the Registrant&#8217;s common stock, par value $0.001 per
share (&#8220;<U>Common Stock</U>&#8221;), that become issuable under the Quellis Biosciences Inc. 2019 Stock Incentive Plan (the
 &#8220;<U>Plan</U>&#8221;) by reason of any stock dividend, stock split, recapitalization or other similar transaction that results
in an increase in the number of outstanding shares of the Registrant&#8217;s Common Stock.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Represents shares of Common Stock issuable upon the exercise of outstanding stock option awards
under the Plan as of March 11, 2021<I>.</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">(3)</TD><TD>Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h). The price per share
and aggregate offering price are based upon the weighted average exercise price per share of the outstanding stock options.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-indent: -0.3in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Explanatory Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Agreement and Plan of Merger, dated January
28, 2021 (the &#8220;<U>Merger Agreement</U>&#8221;), by and among Catabasis Pharmaceuticals, Inc. (the &#8220;<U>Registrant</U>&#8221;),
Cabo Merger Sub I, Inc., a Delaware corporation and wholly owned subsidiary of the Registrant (&#8220;<U>First Merger Sub</U>&#8221;),
Cabo Merger Sub II, LLC, a Delaware limited liability company and wholly owned subsidiary of the Registrant (&#8220;<U>Second Merger
Sub</U>&#8221;), and Quellis Biosciences, Inc., a Delaware corporation (&#8220;<U>Quellis</U>&#8221;), First Merger Sub merged
with and into Quellis, pursuant to which Quellis was the surviving corporation and became a wholly owned subsidiary of the Registrant
(the &#8220;<U>First Merger</U>&#8221;) and then Quellis merged with and into Second Merger Sub, pursuant to which Second Merger
Sub was the surviving entity (together with the First Merger, the &#8220;<U>Merger</U>&#8221;). As a result of the Merger, Quellis
(through its successor Second Merger Sub) became a wholly owned subsidiary of the Registrant. In accordance with the Merger Agreement,
the Registrant assumed certain options that were outstanding under the Quellis Biosciences, Inc. 2019 Stock Incentive Plan. Each
option to purchase shares of Quellis&#8217; common stock that was outstanding and unexercised immediately prior to the effective
time of the Merger under the Quellis Biosciences, Inc. 2019 Stock Incentive Plan, whether or not vested, was converted into and
became an option to purchase shares of the Registrant&#8217;s common stock par value $0.001 per share (&#8220;<U>Common Stock</U>&#8221;)
(as adjusted by the exchange ratio pursuant to the Merger Agreement) under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Registrant is filing this Registration Statement on Form
S-8 (this &#8220;<U>Registration Statement</U>&#8221;) to register an additional 332,494 shares of the Registrant&#8217;s Common
Stock issuable upon the exercise of outstanding options originally granted under the Quellis Biosciences, Inc. 2019 Stock Incentive
Plan and assumed and converted by the Registrant under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I<BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION 10(A)
PROSPECTUS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1. Plan Information.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required by Item 1 is included in documents
sent or given to participants in the plans covered by this registration statement pursuant to Rule 428(b)(1) of the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2. Registrant Information and Employee Plan Annual Information.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The written statement required by Item 2 is included in documents
sent or given to participants in the plans covered by this registration statement pursuant to Rule 428(b)(1) of the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II<BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3. Incorporation of Documents by Reference</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following documents filed by the Registrant with the Securities
and Exchange Commission (the &#8220;<U>SEC</U>&#8221;) are incorporated by reference into this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465921034984/tm211035-1_10k.htm" STYLE="-sec-extract: exhibit">(a) The Registrant&#8217;s Annual Report on Form 10-K (File No.&nbsp;001-37467) for the fiscal year ended December&nbsp;31, 2020, filed with the SEC on March&nbsp;11, 2021 (&#8220;<U>Form 10-K</U>&#8221;).</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465921009065/tm214487d1_8k.htm" STYLE="-sec-extract: exhibit">(b) The Registrant&#8217;s Current Report on Form 8-K (File No.&nbsp;001-37467) filed with the SEC on January 29, 2021.</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">(c) All other reports filed by the Registrant
pursuant to Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the &#8220;<U>Exchange Act</U>&#8221;)
since the end of the fiscal year ended December&nbsp;31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465915046742/a14-26552_88a12b.htm" STYLE="-sec-extract: exhibit">(d) The description of the Registrant&#8217;s Common Stock contained in the Registrant&#8217;s Registration Statement on Form 8-A (File No.&nbsp;001-37467) filed with the SEC on June 23, 2015, including any other amendments or reports filed for the purposes of updating this description.</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">(e) All other reports and documents subsequently
filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished
under Item&nbsp;2.02 or Item&nbsp;7.01 of Form 8-K and exhibits furnished on such form that relate to such items) on or after the
date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which
indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed
to be incorporated by reference herein and to be a part of this Registration Statement from the date of the filing of such reports
and documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in
any subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of
this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 4. Description of Securities<BR>
<BR>
</B>Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5. Interests of Named Experts and Counsel<BR>
<BR>
</B>Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6. Indemnification of Directors and Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section 102 of the General Corporation Law of the State of Delaware
permits a corporation to eliminate the personal liability of its directors or its stockholders for monetary damages for a breach
of fiduciary duty as a director, except where the director breached his or her duty of loyalty, failed to act in good faith, engaged
in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase in violation
of Delaware corporate law or obtained an improper personal benefit. The registrant&#8217;s certificate of incorporation provides
that no director of the registrant shall be personally liable to it or its stockholders for monetary damages for any breach of
fiduciary duty as a director, notwithstanding any provision of law imposing such liability, except to the extent that the General
Corporation Law of the State of Delaware prohibits the elimination or limitation of liability of directors for breaches of fiduciary
duty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section 145 of the General Corporation Law of the State of Delaware
provides that a corporation has the power to indemnify a director, officer, employee, or agent of the corporation and certain other
persons serving at the request of the corporation in related capacities against expenses (including attorneys&#8217; fees), judgments,
fines and amounts paid in settlements actually and reasonably incurred by the person in connection with an action, suit or proceeding
to which he or she is or is threatened to be made a party by reason of such position, if such person acted in good faith and in
a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, and, in any criminal action
or proceeding, had no reasonable cause to believe his or her conduct was unlawful, except that, in the case of actions brought
by or in the right of the corporation, no indemnification shall be made with respect to any claim, issue or matter as to which
such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or
other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of the
case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court
shall deem proper.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The registrant&#8217;s certificate of incorporation provides
that it will indemnify each person who was or is a party or threatened to be made a party or is involved in to any threatened,
pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action
by or in the right of us) by reason of the fact that he or she is or was, or has agreed to become, a director or officer, or is
or was serving, or has agreed to serve, at the registrant&#8217;s request as a director, officer, partner, employee or trustee
of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise (all such persons
being referred to as an &#8220;Indemnitee&#8221;), or by reason of any action alleged to have been taken or omitted in such capacity,
against all expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred in connection with such action, suit or proceeding and any appeal therefrom, if such Indemnitee acted in good faith and
in a manner he or she reasonably believed to be in, or not opposed to, the registrant&#8217;s best interests, and, with respect
to any criminal action or proceeding, he or she had no reasonable cause to believe his or her conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The registrant&#8217;s certificate of incorporation also provides
that it will indemnify any Indemnitee who was or is a party to an action or suit by or in the right of us to procure a judgment
in the registrant&#8217;s favor by reason of the fact that the Indemnitee is or was, or has agreed to become, a director or officer,
or is or was serving, or has agreed to serve, at the registrant&#8217;s request as a director, officer, partner, employee or trustee
of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise, or by reason of
any action alleged to have been taken or omitted in such capacity, against all expenses (including attorneys&#8217; fees) and,
to the extent permitted by law, amounts paid in settlement actually and reasonably incurred in connection with such action, suit
or proceeding, and any appeal therefrom, if the Indemnitee acted in good faith and in a manner he or she reasonably believed to
be in, or not opposed to, the registrant&#8217;s best interests, except that no indemnification shall be made with respect to any
claim, issue or matter as to which such person shall have been adjudged to be liable to the registrant, unless a court determines
that, despite such adjudication but in view of all of the circumstances, he or she is entitled to indemnification of such expenses.
Notwithstanding the foregoing, to the extent that any Indemnitee has been successful, on the merits or otherwise, he or she will
be indemnified by the registrant against all expenses (including attorneys&#8217; fees) actually and reasonably incurred by him
or her or on his or her behalf in connection therewith. If the registrant does not assume the defense, expenses must be advanced
to an Indemnitee under certain circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The registrant has entered into indemnification agreements with
each of its directors and executive officers. In general, these agreements provide that the registrant will indemnify the director
or executive officer to the fullest extent permitted by law for claims arising in his or her capacity as a director or officer
of the registrant or in connection with their service at the registrant&#8217;s request for another corporation or entity. The
indemnification agreements also provide for procedures that will apply in the event that a director or executive officer makes
a claim for indemnification and establish certain presumptions that are favorable to the director or executive officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The registrant maintains a general liability insurance policy
that covers certain liabilities of the directors and officers of the registrant arising out of claims based on acts or omissions
in their capacities as directors or officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7. Exemption from Registration Claimed</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR>
Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8. Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Incorporated&nbsp;by&nbsp;Reference</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 6%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Exhibit<BR>
Number</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 39%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description&nbsp;of&nbsp;Exhibit</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 4%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Form</B></FONT></TD>
    <TD STYLE="width: 6%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>File&nbsp;Number</B></FONT></TD>
    <TD STYLE="width: 6%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date&nbsp;of&nbsp;Filing</B></FONT></TD>
    <TD STYLE="width: 4%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit<BR>
Number</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Filed<BR>
Herewith</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465915049288/a14-26552_9ex3d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465915049288/a14-26552_9ex3d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Restated Certificate of Incorporation of the Registrant</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">001-37467</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">July&nbsp;1, 2015</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465918075355/a18-42107_1ex3d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465918075355/a18-42107_1ex3d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Certificate of Amendment to Restated Certificate of Incorporation of the Registrant</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">001-37467</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">December&nbsp;31, 2018</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465921009065/tm214487d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465921009065/tm214487d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Certificate of Designation of Preferences, Rights and Limitations of Series X Convertible Preferred Stock</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">001-37467</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">January 29, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465915049288/a14-26552_9ex3d2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">4.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1454789/000110465915049288/a14-26552_9ex3d2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amended and Restated By-Laws of the Registrant</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">001-37467</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">July&nbsp;1, 2015</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm219302d3_ex5-1.htm"><FONT STYLE="font-size: 10pt">5.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm219302d3_ex5-1.htm"><FONT STYLE="font-size: 10pt">Opinion of Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Registrant</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm219302d3_ex5-1.htm"><FONT STYLE="font-size: 10pt">23.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm219302d3_ex5-1.htm"><FONT STYLE="font-size: 10pt">Consent of Wilmer Cutler Pickering Hale and Dorr LLP (included in Exhibit&nbsp;5.1)</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm219302d3_ex23-2.htm"><FONT STYLE="font-size: 10pt">23.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm219302d3_ex23-2.htm"><FONT STYLE="font-size: 10pt">Consent of Ernst&nbsp;&amp; Young LLP,&nbsp;Independent Registered Public Accounting Firm</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a_001"><FONT STYLE="font-size: 10pt">24.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="#a_001"><FONT STYLE="font-size: 10pt">Power of attorney (included on the signature pages&nbsp;of this registration statement)</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm219302d3_ex99-1.htm"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm219302d3_ex99-1.htm"><FONT STYLE="font-size: 10pt">Quellis Biosciences, Inc. 2019 Stock Incentive Plan</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I></I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9. Undertakings<BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.</B> The undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>(a)</B> To file, during any period in
which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(i)</B> To include any prospectus required
by Section&nbsp;10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(ii)</B> To reflect in the
prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from
the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the
maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective
registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt"><B>(iii)</B> To include any material information
with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such
information in the registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><I>Provided, however,</I> that paragraphs
(a)(i) and (a)(ii) do not apply if the registration statement is on Form S-8, and the information required to be included in a
post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant
to Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated by reference in the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>(b)</B> That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>(c)</B> To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>2.</B> The undersigned registrant hereby undertakes that,
for purposes of determining any liability under the Securities Act, each filing of the registrant&#8217;s annual report pursuant
to Section&nbsp;13(a) or Section&nbsp;15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s
annual report pursuant to Section&nbsp;15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement
shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>3.</B> Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person
of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Act of 1933,
the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&nbsp;S-8
and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the
city of Boston, Commonwealth of Massachusetts, on this 11<SUP>th</SUP> day of March, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">CATABASIS PHARMACEUTICALS,&nbsp;INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Jill C. Milne</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Jill C. Milne, Ph.D.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_001"></A><B>POWER OF ATTORNEY AND SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We, the undersigned officers and directors of Catabasis Pharmaceuticals,&nbsp;Inc.,
hereby severally constitute and appoint Jill C. Milne and Benjamin Harshbarger, and each of them singly, our true and lawful attorneys
with full power to them, and each of them singly, to sign for us and in our names in the capacities indicated below, the registration
statement on Form&nbsp;S-8 filed herewith and any and all subsequent amendments to said registration statement, and generally to
do all such things in our names and on our behalf in our capacities as officers and directors to enable Catabasis Pharmaceuticals,&nbsp;Inc.
to comply with the provisions of the Securities Act of 1933, as amended, and all requirements of the Securities and Exchange Commission,
hereby ratifying and confirming our signatures as they may be signed by our said attorneys, or any one of them, to said registration
statement and any and all amendments thereto. Pursuant to the requirements of the Securities Act of 1933, this registration statement
has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Jill C. Milne, Ph.D.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2"><FONT STYLE="font-size: 10pt">President and Chief Executive Officer and Director (Principal Executive Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March 11, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Jill C. Milne, Ph.D.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Noah C. Clauser</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2"><FONT STYLE="font-size: 10pt">Chief Financial Officer (Principal Financial Officer and Principal Accounting
    Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March 11, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Noah C. Clauser</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Kenneth Bate</FONT></TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="2"><FONT STYLE="font-size: 10pt">Chairman of the Board of Directors</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 11, 2021 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Kenneth Bate</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Joanne T. Beck, Ph.D.&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March 11, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Joanne T. Beck, Ph.D.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Hugh Cole&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March 11, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Hugh Cole</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Michael Kishbauch</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 11, 2021 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Michael Kishbauch</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gregg Lapointe</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 11, 2021 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Gregg Lapointe</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Jonathan Violin</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 11, 2021 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Jonathan Violin</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Fred Callori</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 11, 2021 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Fred Callori</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm219302d3_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm219302d3_ex5-1img01.jpg" ALT="" STYLE="width: 133px; height: 23px">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">+1 617 526 6000 (t)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">+1 617 526 5000 (f)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">wilmerhale.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;March 11, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Catabasis Pharmaceuticals,&nbsp;Inc.<BR>
100 High Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Floor 28</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Boston, Massachusetts 02110</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65in; text-indent: -0.4in">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Registration Statement on Form&nbsp;S-8</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have assisted in the preparation of
a Registration Statement on Form&nbsp;S-8 (the &#8220;<B>Registration Statement</B>&#8221;) to be filed with the Securities and
Exchange Commission (the &#8220;<B>Commission</B>&#8221;) under the Securities Act of 1933, as amended (the &#8220;<B>Securities
Act</B>&#8221;), relating to an aggregate of 332,494 shares of common stock, $0.001 par value per share (the &#8220;<B>Shares</B>&#8221;)
of Catabasis Pharmaceuticals, Inc. (the &#8220;<B>Company</B>&#8221;) issuable upon the exercise of outstanding options granted
under the Quellis Biosciences Inc. 2019 Stock Incentive Plan (the &#8220;<B>Plan</B>&#8221;). The options issued and the shares
issuable upon exercise thereof under the Plan were assumed by the Company in connection with and pursuant to the terms of that
certain Agreement and Plan of Merger, dated January 28, 2021, by and among the Company, Cabo Merger Sub I, Inc., a Delaware corporation
and wholly owned subsidiary of the Company, Cabo Merger Sub II, LLC, a Delaware limited liability company and wholly owned subsidiary
of the Company, and Quellis Biosciences, Inc., a Delaware corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have examined the Certificate of Incorporation
and By-Laws of the Company, each as amended and restated to date, the Plan, and originals, or copies certified to our satisfaction,
of all pertinent records of the meetings of the directors and stockholders of the Company, the Registration Statement and such
other documents relating to the Company as we have deemed material for the purposes of this opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In our examination of the foregoing documents,
we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity
to original documents of all documents submitted to us as certified, photostatic or other copies, the authenticity of the originals
of any such documents and the legal competence of all signatories to such documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We assume that the appropriate action will
be taken, prior to the offer and sale of the Shares in accordance with the Plans, to register and qualify the Shares for sale under
all applicable state securities or &#8220;blue sky&#8221; laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We express no opinion herein as to the
laws of any state or jurisdiction other than the state laws of the Commonwealth of Massachusetts, the General Corporation Law of
the State of Delaware and the federal laws of the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is understood that this opinion is to
be used only in connection with the offer and sale of the Shares while the Registration Statement is in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please note that we are opining only as
to the matters expressly set forth herein, and no opinion should be inferred as to any other matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based on the foregoing, we are of the opinion
that the Shares have been duly authorized for issuance and, when the Shares are issued and paid for in accordance with the terms
and conditions of the Plan, the Shares will be validly issued, fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We hereby consent to the filing of this
opinion with the Commission in connection with the Registration Statement in accordance with the requirements of Item&nbsp;601(b)(5)&nbsp;of
Regulation S-K under the Securities Act. In giving such consent, we do not hereby admit that we are in the category of persons
whose consent is required under Section&nbsp;7 of the Securities Act or the rules&nbsp;and regulations of the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<TD STYLE="width: 50%"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">WILMER CUTLER PICKERING</P></TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>HALE AND DORR LLP</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 46%"><FONT STYLE="font-size: 10pt">/s/ Rosemary G. Reilly</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Rosemary G. Reilly, a Partner</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>tm219302d3_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
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<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Consent of Independent Registered Public
Accounting Firm</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">We consent to the incorporation by reference in the Registration
Statement (Form S-8) pertaining to the Quellis Biosciences Inc. 2019 Stock Incentive Plan of our report dated March 11, 2021, with
respect to the consolidated financial statements of Catabasis Pharmaceuticals, Inc. included in its Annual Report (Form 10-K) for
the year ended December 31, 2020, filed with the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">/s/ Ernst &amp; Young LLP</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Boston, Massachusetts</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">March 11, 2021</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>tm219302d3_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
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<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: capitalize; text-align: right">
Exhibit 99.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">QuELLIS
BIOSCIENCES, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>2019
STOCK INCENTIVE PLAN</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><U>Purpose</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The purpose of this
2019 Stock Incentive Plan (the &#8220;<B>Plan</B>&#8221;) of Quellis Biosciences, Inc., a Delaware corporation (the &#8220;<B>Company</B>&#8221;),
is to advance the interests of the Company&#8217;s stockholders by enhancing the Company&#8217;s ability to attract, retain and
motivate persons who are expected to make important contributions to the Company and by providing such persons with equity ownership
opportunities and performance-based incentives that are intended to better align the interests of such persons with those of the
Company&#8217;s stockholders. Except where the context otherwise requires, the term &#8220;Company&#8221; shall include any of
the Company&#8217;s present or future parent or subsidiary corporations as defined in Sections&nbsp;424(e) or (f) of the Internal
Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the &#8220;<B>Code</B>&#8221;) and any other business
venture (including, without limitation, joint venture or limited liability company) in which the Company has a controlling interest,
as determined by the Board of Directors of the Company (the &#8220;<B>Board</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><U>Eligibility</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">All of the Company&#8217;s
employees, officers, directors, consultants and advisors are eligible to be granted options, restricted stock, restricted stock
units (&#8220;<B>RSUs</B>&#8221;) and other stock-based awards (each, an &#8220;<B>Award</B>&#8221;) under the Plan. Each person
who receives an Award under the Plan is deemed a &#8220;<B>Participant</B>&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify"><U>Administration and Delegation</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Administration by Board of Directors</U>. The Plan will be administered by the Board. The Board shall have authority
to grant Awards and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall
deem advisable. The Board may construe and interpret the terms of the Plan and any Award agreements entered into under the Plan.
The Board may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and
to the extent it shall deem expedient to carry the Plan into effect and it shall be the sole and final judge of such expediency.
All decisions by the Board shall be made in the Board&#8217;s sole discretion and shall be final and binding on all persons having
or claiming any interest in the Plan or in any Award. No director or person acting pursuant to the authority delegated by the Board
shall be liable for any action or determination relating to or under the Plan made in good faith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Appointment
of Committees</U>. To the extent permitted by applicable law, the Board may delegate any or all of its powers under the Plan to
one or more committees or subcommittees of the Board (a &#8220;<B>Committee</B>&#8221;). All references in the Plan to the &#8220;<B>Board</B>&#8221;
shall mean the Board or a Committee of the Board or the officers referred to in Section 3(c) to the extent that the Board&#8217;s
powers or authority under the Plan have been delegated to such Committee or officers. The Board may abolish any Committee at any
time and re-vest in itself any previously delegated authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Delegation
to Officers</U>. To the extent permitted by applicable law, the Board may delegate to one or more officers of the Company the
power to grant Awards (subject to any limitations under the Plan) to employees or officers of the Company or any of its
present or future subsidiary corporations and to exercise such other powers under the Plan as the Board may determine, <I>provided
that</I> the Board shall fix the terms of the Awards to be granted by such officers (including the exercise price of such
Awards, which may include a formula by which the exercise price will be determined) and the maximum number of shares subject
to Awards that the officers may grant; <I>provided further, however</I>, that no officer shall be authorized to grant Awards
to any &#8220;executive officer&#8221; of the Company (as defined by Rule 3b-7 under the Securities Exchange Act of 1934, as
amended (the &#8220;<B>Exchange Act</B>&#8221;)) or to any &#8220;officer&#8221; of the Company (as defined by Rule 16a-1
under the Exchange Act). The Board may rescind any such delegation at any time and re-vest in itself any previously delegated
authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify"><U>Stock Available for Awards</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="color: Black; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Number
of Shares</U>. Subject to adjustment under Section 8 hereof, Awards may be made under the Plan covering up to 238,502* shares
of common stock of the Company (the &#8220;<B>Common Stock</B>&#8221;). If any Award expires, lapses, or is terminated, surrendered
or canceled without having been fully exercised or is forfeited in whole or in part (including as the result of shares of Common
Stock subject to such Award being repurchased by the Company at or below the original issuance price), in any case in a manner
that results in any shares of Common Stock covered by such Award not being issued or being so reacquired by the Company, the unused
Common Stock covered by such Award shall again be available for the grant of Awards under the Plan. Further, shares of Common
Stock delivered (whether by actual delivery or attestation) or tendered to the Company by a Participant to satisfy the applicable
exercise or purchase price of an Award and/or to satisfy any applicable tax withholding obligation (including shares retained
by the Company from the Award being exercised or purchased and/or creating the tax obligation) shall be added to the number of
shares of Common Stock available for the grant of Awards under the Plan. However, in the case of Incentive Stock Options (as hereinafter
defined), the foregoing provisions shall be subject to any limitations under the Code. Shares of Common Stock issued under the
Plan may consist in whole or in part of authorized but unissued shares, shares purchased on the open market, or treasury shares.
At no time while there is any Option (as defined below) outstanding and held by a Participant who was a resident of the State
of California on the date of grant of such Option, shall the total number of shares of Common Stock issuable upon exercise of
all outstanding options and the total number of shares provided for under any stock bonus or similar plan or agreement of the
Company exceed the applicable percentage as calculated in accordance with the conditions and exclusions of Section 260.140.45
of the California Code of Regulations (the &#8220;<B>California Regulations</B>&#8221;), based on the shares of the Company which
are outstanding at the time the calculation is made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Substitute
Awards</U>. In connection with a merger or consolidation of an entity with the Company or the acquisition by the Company of property
or stock of an entity, the Board may grant Awards in substitution for any options or other stock or stock-based awards granted
prior to such merger or consolidation by such entity or an affiliate thereof. Substitute Awards may be granted on such terms as
the Board deems appropriate in the circumstances, notwithstanding any limitations on Awards contained in the Plan. Substitute
Awards shall not count against the overall share limit set forth in Section 4(a) hereof, except as may be required by reason of
Section 422 and related provisions of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify"><U>Stock Options</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>General</U>. The Board may grant options to purchase Common Stock (each, an &#8220;<B>Option</B>&#8221;) and determine
the number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations
applicable to the exercise of each Option, including conditions relating to applicable federal or state securities laws, as it
considers necessary or advisable. An Option that is not intended to be an Incentive Stock Option (as hereinafter defined) shall
be designated a &#8220;<B>Nonstatutory Stock Option</B>&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Incentive
Stock Options</U>. An Option that the Board intends to be an &#8220;incentive stock option&#8221; as defined in Section 422 of
the Code (an &#8220;<B>Incentive Stock Option</B>&#8221;) shall only be granted to employees of the Company, any of the Company&#8217;s
present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Code, and any other entities the
employees of which are eligible to receive Incentive Stock Options under the Code. All Options intended to qualify as Incentive
Stock Options shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code, and without
limiting generality of the foregoing, such Options shall be deemed to include terms that comply with the eligibility standards
described section 422(b) of the Code. Subject to the remaining provisions of this Section 5(b), if an Option intended to qualify
as an Incentive Stock Option does not so qualify, the Board may, at its discretion, amend the Plan and Award with respect to such
Option so that such Option qualifies as an Incentive Stock Option. To the extent that the aggregate Fair Market Value (determined
at the time of grant) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any
Participant during any calendar year (under all plans of the Company and any affiliates) exceeds $100,000 (or such other limit
established in the Code) or otherwise does not comply with the rules governing Incentive Stock Options, the Options or portions
thereof that exceed such limit (according to the order in which they were granted) or otherwise do not comply with the rules will
be treated as Nonstatutory Stock Options, notwithstanding any contrary provision of the applicable Award. Neither the Company
nor the Board shall have any liability to a Participant, or any other party, (i) if an Option (or any part thereof) which is intended
to qualify as an Incentive Stock Option fails to qualify as such or (ii) for any action or omission by the Company or Board that
causes an Option not to qualify as an Incentive Stock Option, including without limitation the conversion of an Incentive Stock
Option to a Nonstatutory Stock Option or the grant of an Option intended as an Incentive Stock Option that fails to satisfy the
requirements under the Code applicable to an Incentive Stock Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Exercise Price</U>. The Board shall establish the exercise price of each Option and specify the exercise price in the
applicable option agreement. <FONT STYLE="background-color: white">The exercise price shall be not less than 100% of the Fair Market
Value on the date the Option is granted. In the case of an Incentive Stock Option granted to an employee who, at the time of grant
of the Option, owns (or is treated as owning under Section 424 of the Code) stock representing more than 10% of the voting power
of all classes of stock of the Company (or a &#8220;parent corporation&#8221; or &#8220;subsidiary corporation&#8221; thereof within
the meaning of Sections 424(e) or 424(f) of the Code, respectively), the per share exercise price shall be no less than 110% of
the Fair Market Value on the date the Option is granted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Duration of Options</U>. Each Option shall be exercisable at such times and subject to such terms and conditions as the
Board may specify in the applicable option agreement, <I>provided that</I> the term of any Option shall not exceed ten years. In
the case of an Incentive Stock Option granted to an employee who, at the time of grant of the Option, owns (or is treated as owning
under Section 424 of the Code) stock representing more than 10% of the voting power of all classes of stock of the Company (or
a &#8220;parent corporation&#8221; or &#8220;subsidiary corporation&#8221; thereof within the meaning of Sections 424(e) or 424(f)
of the Code, respectively), the term of the Option shall not exceed five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Exercise of Option; Notification of Disposition</U>. Options may be exercised by delivery to the Company of a written
notice of exercise signed by the proper person or by any other form of notice (including electronic notice) approved by the Board
together with payment in full as specified in Section&nbsp;5(f) for the number of shares for which the Option is exercised. Unless
otherwise determined by the Board, an Option may not be exercised for a fraction of a share of Common Stock. Shares of Common Stock
subject to the Option will be delivered by the Company as soon as practicable following exercise. If an Option is designated as
an Incentive Stock Option, the Participant shall give prompt notice to the Company of any disposition or other transfer of any
shares of Common Stock acquired from the Option if such disposition or transfer is made (i) within two years from the grant date
with respect to such Option or (ii) within one year after the transfer of such shares to the Participant (other than any such disposition
made in connection with a Reorganization Event). Such notice shall specify the date of such disposition or other transfer and the
amount realized, in cash, other property, assumption of indebtedness or other consideration, by the Participant in such disposition
or other transfer.</P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Payment
Upon Exercise.</U> Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>in
cash or by check, payable to the order of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>when the Common Stock is registered under the Exchange Act, except as may otherwise be provided in the applicable option
agreement, by (A) delivery of an irrevocable and unconditional undertaking by a creditworthy broker acceptable to the Company to
deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (B) delivery by
the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker acceptable to the
Company to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>when the Common Stock is registered under the Exchange Act and to the extent provided for in the applicable option agreement
or approved by the Board, in its sole discretion, by delivery (either by actual delivery or attestation) of shares of Common Stock
owned by the Participant valued at their fair market value as determined by (or in a manner approved by) the Board (&#8220;<B>Fair
Market Value</B>&#8221;), <I>provided</I> (A) such method of payment is then permitted under applicable law, (B) such Common Stock,
if acquired directly from the Company, was owned by the Participant for such minimum period of time, if any, as may be established
by the Board in its discretion and (C) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other
similar requirements;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>to the extent permitted by applicable law and provided for in the applicable option agreement or approved by the Board,
in its sole discretion, by (A) delivery of a promissory note of the Participant to the Company on terms determined by the Board,
or (B)&nbsp;payment of such other lawful consideration as the Board may determine; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by any combination of the above permitted forms of payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Early
Exercise of Options</U>. The Board may provide in the terms of an option agreement that the Participant may exercise an Option
in whole or in part prior to the full vesting of the Option in exchange for unvested shares of Restricted Stock (as defined below)
with respect to any unvested portion of the Option so exercised. Shares of Restricted Stock acquired upon the exercise of any
unvested portion of an Option shall be subject to such terms and conditions as the Board shall determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify"><U>Restricted Stock; Restricted Stock Units</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>General</U>. The Board may grant Awards entitling recipients to acquire shares of Common Stock (&#8220;<B>Restricted
Stock</B>&#8221;), subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated
or formula price (or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions
specified by the Board in the applicable Award are not satisfied prior to the end of the applicable restriction period or periods
established by the Board for such Award. Instead of granting Awards for Restricted Stock, the Board may grant Awards entitling
the recipient to receive shares of Common Stock or cash to be delivered at the time such Award vests (&#8220;<B>Restricted Stock
Units</B>&#8221;) (Restricted Stock and Restricted Stock Units are each referred to herein as a &#8220;<B>Restricted Stock Award</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Terms
and Conditions for All Restricted Stock Awards</U>. The Board shall determine and set forth in the applicable award agreement
the terms and conditions of a Restricted Stock Award, including the conditions for vesting and repurchase (or forfeiture) and
the issue price, if any.</P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Additional Provisions Relating to Restricted Stock</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Dividends</U>.
Participants holding shares of Restricted Stock will be entitled to all ordinary cash dividends paid with respect to such shares
to the extent such dividends have a record date that is on or after the date on which the Participant to whom such Restricted
Stock is granted becomes the record holder of such Restricted Stock, unless otherwise provided by the Board. Unless otherwise
provided by the Board, if any dividends or distributions are paid in shares, or consist of a dividend or distribution to holders
of Common Stock other than an ordinary cash dividend, the shares or other property will be subject to the same restrictions on
transferability and forfeitability as the shares of Restricted Stock with respect to which they were paid. Each dividend payment
will be made as provided in the applicable award agreement, but no later than the end of the calendar year in which the dividends
are paid to shareholders of that class of stock or, if later, the 15th day of the third month following the later of (A) the date
the dividends are paid to shareholders of that class of stock and (B) the date the dividends are no longer subject to forfeiture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Stock
Certificates</U>. The Company may require that any stock certificates issued in respect of shares of Restricted Stock shall be
deposited in escrow by the Participant, together with a stock power endorsed in blank, with the Company (or its designee). At
the expiration of the applicable restriction periods, the Company (or such designee) shall deliver the certificates no longer
subject to such restrictions to the Participant or if the Participant has died, to the beneficiary designated, in a manner determined
by the Board, by a Participant to receive amounts due or exercise rights of the Participant in the event of the Participant&#8217;s
death (the &#8220;<B>Designated Beneficiary</B>&#8221;). In the absence of an effective designation by a Participant, &#8220;Designated
Beneficiary&#8221; shall mean the Participant&#8217;s estate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Additional
Provisions Relating to Restricted Stock Units</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Settlement</U>. Upon the vesting of a Restricted Stock Unit, the Participant shall be entitled to receive from the Company
one share of Common Stock or an amount of cash or other property equal to the Fair Market Value of one share of Common Stock on
the settlement date, as the Board shall determine and as provided in the applicable award agreement. The Board may provide that
settlement of Restricted Stock Units shall occur upon or as soon as reasonably practicable after the vesting of the Restricted
Stock Units or shall instead be deferred, on a mandatory basis or at the election of the Participant, in a manner that complies
with Section 409A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Voting
Rights</U>. A Participant shall have no voting rights with respect to any Restricted Stock Units unless and until shares are delivered
in settlement thereof.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Dividend
Equivalents</U>. To the extent provided by the Board, a grant of Restricted Stock Units may provide a Participant with the right
to receive Dividend Equivalents. Dividend Equivalents may be paid currently or credited to an account for the Participant, may
be settled in cash and/or shares of Common Stock and may be subject to the same restrictions on transfer and forfeitability as
the Restricted Stock Units with respect to which the Dividend Equivalents are paid, as determined by the Board, subject, in each
case, to such terms and conditions as the Board shall establish and set forth in the applicable award agreement. &#8220;<B>Dividend
Equivalents</B>&#8221; means a right granted to a Participant to receive the equivalent value (in cash or shares of Common Stock)
of dividends paid on shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify"><U>Other Stock-Based Awards</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Other Awards of
shares of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise based on,
shares of Common Stock or other property, may be granted hereunder to Participants (&#8220;<B>Other Stock-Based
Awards</B>&#8221;), including without limitation stock appreciation rights (&#8220;<B>SARs</B>&#8221;) and Awards entitling
recipients to receive shares of Common Stock to be delivered in the future. Such Other Stock-Based Awards shall also be
available as a form of payment in the settlement of other Awards granted under the Plan or as payment in lieu of compensation
to which a Participant is otherwise entitled. Other Stock-Based Awards may be paid in shares of Common Stock or cash, as the
Board shall determine. Subject to the provisions of the Plan, the Board shall determine the terms and conditions of each
Other Stock-Based Award, including any purchase price, transfer restrictions, vesting conditions and other terms and
conditions applicable thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify"><U>Adjustments for Changes in Common Stock and Certain Other Events</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification
of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock
other than an ordinary cash dividend, (i) the number and class of securities available under this Plan, (ii) the number and class
of securities and exercise price per share of each outstanding Option, (iii) the number of shares subject to and the repurchase
price per share subject to each outstanding Restricted Stock Award, and (iv) the terms of each other outstanding Award shall be
equitably adjusted by the Company (or substituted Awards may be made, if applicable) in the manner determined by the Board; <I>provided
that</I>, unless otherwise determined by the Board, such changes to the Options shall comply with section 1.424-1 of the Treasury
Regulations. Without limiting the generality of the foregoing, in the event the Company effects a split of the Common Stock by
means of a stock dividend and the exercise price of and the number of shares subject to an outstanding Option are adjusted as of
the date of the distribution of the dividend (rather than as of the record date for such dividend), then an optionee who exercises
an Option between the record date and the distribution date for such stock dividend shall be entitled to receive, on the distribution
date, the stock dividend with respect to the shares of Common Stock acquired upon such Option exercise, notwithstanding the fact
that such shares were not outstanding as of the close of business on the record date for such stock dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Reorganization Events</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Definition</U>.
A &#8220;<B>Reorganization Event</B>&#8221; means the consummation of: (A) the dissolution or liquidation of the Company, (B)
the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, (C)
a merger, reorganization or consolidation pursuant to which the holders of the Company&#8217;s outstanding voting power immediately
prior to such transaction do not own a majority of the outstanding voting power of the surviving or resulting entity (or its ultimate
parent, if applicable), (D) the acquisition of all or a majority of the outstanding voting stock of the Company in a single transaction
or a series of a related transactions by a person or group of persons, or (E)&nbsp;any other acquisition of the business of the
Company, as determined by the Board; <I>provided, however</I>, that the first firm commitment underwritten public offering pursuant
to an effective registration statement under the Securities Act of 1933, as amended, covering the offer and sale by the Company
of its equity securities, as a result of or following which the Common Stock shall be public, any subsequent public offering or
another capital raising event, or a merger effected solely to change the Company&#8217;s domicile shall not constitute a &#8220;Reorganization
Event.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Consequences
of a Reorganization Event on Awards Other than Restricted Stock Awards</U>. In connection with a Reorganization Event, the Board
may take any one or more of the following actions as to all or any (or any portion of) outstanding Awards other than Restricted
Stock Awards on such terms as the Board determines: (A)&nbsp;provide that Awards shall be assumed, or substantially equivalent
Awards shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof); <I>provided that</I>, unless
otherwise determined by the Board, such assumption or substitution of the Options shall comply with section 1.424-1 of the Treasury
Regulations, (B)&nbsp;upon written notice to a Participant, provide that the Participant&#8217;s unexercised Awards will terminate
immediately prior to the consummation of such Reorganization Event unless exercised by the Participant within a specified period
following the date of such notice, (C)&nbsp;provide that outstanding Awards shall become exercisable, realizable, or deliverable,
or restrictions applicable to an Award shall lapse, in whole or in part prior to or upon such Reorganization Event, (D)&nbsp;in
the event of a Reorganization Event under the terms of which holders of Common Stock will receive upon consummation thereof a
cash payment for each share surrendered in the Reorganization Event (the &#8220;<B>Acquisition Price</B>&#8221;), make or provide
for a cash payment to a Participant equal to the excess, if any, of (I)&nbsp;the Acquisition Price times the number of shares
of Common Stock subject to the Participant&#8217;s Awards (to the extent the exercise price does not exceed the Acquisition Price)
over (II) the aggregate exercise price of all such outstanding Awards and any applicable tax withholdings, in exchange for the
termination of such Awards, (E)&nbsp;provide that, in connection with a liquidation or dissolution of the Company, Awards shall
convert into the right to receive liquidation proceeds (if applicable, net of the exercise price thereof and any applicable tax
withholdings) and (F) any combination of the foregoing. In taking any of the actions permitted under this Section 8(b), the Board
shall not be obligated by the Plan to treat all Awards, all Awards held by a Participant, or all Awards of the same type, identically.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">For purposes of clause
(A) above, an Option shall be considered assumed if, following consummation of the Reorganization Event, the Option confers the
right to purchase, for each share of Common Stock subject to the Option immediately prior to the consummation of the Reorganization
Event, the consideration (whether cash, securities or other property) received as a result of the Reorganization Event by holders
of Common Stock for each share of Common Stock held immediately prior to the consummation of the Reorganization Event (and if holders
were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares
of Common Stock); <I>provided, however</I>, that if the consideration received as a result of the Reorganization Event is not solely
common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring
or succeeding corporation, provide for the consideration to be received upon the exercise of Options to consist solely of common
stock of the acquiring or succeeding corporation (or an affiliate thereof) equivalent in value (as determined by the Board) to
the per share consideration received by holders of outstanding shares of Common Stock as a result of the Reorganization Event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Consequences
of a Reorganization Event on Restricted Stock Awards</U>. Upon the occurrence of a Reorganization Event other than a liquidation
or dissolution of the Company, the repurchase and other rights of the Company under each outstanding Restricted Stock Award shall
inure to the benefit of the Company&#8217;s successor and shall, unless the Board determines otherwise, apply to the cash, securities
or other property which the Common Stock was converted into or exchanged for pursuant to such Reorganization Event in the same
manner and to the same extent as they applied to the Common Stock subject to such Restricted Stock Award. Upon the occurrence
of a Reorganization Event involving the liquidation or dissolution of the Company, except to the extent specifically provided
to the contrary in the instrument evidencing any Restricted Stock Award or any other agreement between a Participant and the Company,
all restrictions and conditions on all Restricted Stock Awards then outstanding shall automatically be deemed terminated or satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify"><U>General Provisions Applicable to Awards</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Transferability
of Awards</U>. Except as the Board may otherwise determine or provide in an Award, Awards shall not be sold, assigned, transferred,
pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or by operation of law, except by will
or the laws of descent and distribution or, other than in the case of an Incentive Stock Option, pursuant to a qualified domestic
relations order, and, during the life of the Participant, shall be exercisable only by the Participant. References to a Participant,
to the extent relevant in the context, shall include references to authorized transferees.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Documentation</U>. Each Award shall be evidenced in such form (written, electronic or otherwise) as the Board shall
determine. Each Award may contain terms and conditions in addition to those set forth in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Board
Discretion</U>. Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to any other
Award. The terms of each Award need not be identical, and the Board need not treat Participants uniformly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Termination of Status</U>. The Board shall determine the effect on an Award of the disability, death, retirement, termination
or other cessation of employment, authorized leave of absence or other change in the employment or other status of a Participant
and the extent to which, and the period during which, the Participant, or the Participant&#8217;s legal representative, conservator,
guardian or Designated Beneficiary, may exercise rights under the Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Withholding</U>. The Company shall not be obligated to deliver certificates, release from forfeiture, otherwise recognize
a Participant&#8217;s unrestricted ownership in an Award or the cash or property proceeds therefrom, until the Company satisfies
all applicable federal, state, and local or other income and employment tax withholding obligations. In its sole discretion, the
Company may satisfy such withholding obligations by any of the following means or by a combination of such means: (i) causing the
Participant to tender to the Company cash payment; (ii) withholding cash from an Award settled in cash; (iii)&nbsp;withholding
from amounts otherwise payable by the Company to the Participant, including but not limited to additional withholding on the Participant&#8217;s
salary or wages, or from proceeds from the sale of Common Stock issued pursuant to an Award; (iv) delivery of shares of Common
Stock, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value; <I>provided, however</I>,
except as otherwise provided by the Board, that the total tax withholding where stock is being used to satisfy such tax obligations
cannot exceed the Company&#8217;s minimum statutory withholding obligations (based on minimum statutory withholding rates for federal
and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income), and <I>provided, further</I>,
shares surrendered to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting
or other similar requirements; or (v) by such other method as determined by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Amendment of Award</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Board may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor another
Award of the same or a different type, changing the date of exercise or settlement, and converting an Incentive Stock Option to
a Nonstatutory Stock Option. The Participant&#8217;s consent to such action shall be required unless (A) the Board determines that
the action, taking into account any related action, would not materially and adversely affect the Participant&#8217;s rights under
the Plan, (B) the change is permitted under Section 8 hereof, or (C) the change is to ensure that an Option intended to qualify
as an Incentive Stock Option qualifies as such.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Board may, without stockholder approval, amend any outstanding Award granted under the Plan to provide an exercise price
per share that is lower than the then-current exercise price per share of such outstanding Award. The Board may also, without stockholder
approval, cancel any outstanding award (whether or not granted under the Plan) and grant in substitution therefor new Awards under
the Plan covering the same or a different number of shares of Common Stock and having an exercise price per share lower than the
then-current exercise price per share of the cancelled award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Conditions
on Delivery of Stock</U>. The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to remove
restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to
the satisfaction of the Company, (ii)&nbsp;in the opinion of the Company&#8217;s counsel, all other legal matters in connection
with the issuance and delivery of such shares have been satisfied, including any applicable securities laws and any applicable
stock exchange or stock market rules and regulations, and (iii) the Participant has executed and delivered to the Company such
representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules
or regulations. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority
is determined by the Board to be necessary to the lawful issuance and sale of any securities hereunder, shall relieve the Company
of any liability in respect of the failure to issue or sell such shares at to which such requisite authority shall not have been
obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Acceleration</U>.
The Board may at any time provide that any Award shall become immediately exercisable in full or in part, free of some or all
restrictions or conditions, or otherwise realizable in full or in part, as the case may be.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify"><U>Miscellaneous</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No
Right To Employment or Other Status</U>. No person shall have any claim or right to be granted an Award, and the grant of an Award
shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The
Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from
any liability or claim under the Plan, except as expressly provided in the applicable Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No Rights As Stockholder</U>. Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary
shall have any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until
becoming the record holder of such shares. Notwithstanding any other provision of the Plan, unless otherwise determined by the
Board or required by any applicable laws, the Company shall not be required to deliver to any Participant certificates evidencing
shares of Common Stock issued in connection with any Award and instead such shares of Common Stock may be recorded in the books
of the Company (or, as applicable, its transfer agent or stock plan administrator). The Company may place legends on any stock
certificates issued under the Plan deemed necessary or appropriate by the Board in order to comply with applicable laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Effective Date and Term of Plan</U>. The Plan shall become effective on the date on which it is adopted by the Board.
No Awards shall be granted under the Plan after the expiration of 10 years from the earlier of (i) the date on which the Plan was
adopted by the Board or (ii) the date the Plan was approved by the Company&#8217;s stockholders, but Awards previously granted
may extend beyond that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Amendment of Plan</U>. The Board may amend, suspend or terminate the Plan or any portion thereof at any time; <I>provided
that</I> if at any time the approval of a Company stockholder is required as to any modification or amendment under Section 422
of the Code or any successor provision with respect to Incentive Stock Options, the Board may not effect such modification or amendment
without the consent of the affected Participant. Unless otherwise specified in the amendment, any amendment to the Plan adopted
in accordance with this Section 10(d) shall apply to, and be binding on the holders of, all Awards outstanding under the Plan at
the time the amendment is adopted, <I>provided</I> the Board determines that such amendment does not materially and adversely affect
the rights of Participants under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Authorization
of Sub-Plans</U>. The Board may from time to time establish one or more sub-plans under the Plan for purposes of satisfying applicable
blue sky, securities or tax laws of various jurisdictions. The Board shall establish such sub-plans by adopting supplements to
this Plan containing (i)&nbsp;such limitations on the Board&#8217;s discretion under the Plan as the Board deems necessary or
desirable or (ii)&nbsp;such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary
or desirable. All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement shall apply only
to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any supplement to
Participants in any jurisdiction which is not the subject of such supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Compliance
with Code Section 409A</U>. Unless otherwise expressly provided for in an Award, the Plan and Award will be interpreted to the
greatest extent possible in a manner that makes the Plan and the Awards granted hereunder exempt from Section&nbsp;409A of the
Code, and, to the extent not so exempt, in compliance with Section&nbsp;409A of the Code. If the Board determines that any Award
granted hereunder is not exempt from and is therefore subject to Section&nbsp;409A of the Code, the Award will incorporate the
terms and conditions necessary to avoid the consequences specified in Section&nbsp;409A(a)(1) of the Code, and to the extent an
Award is silent on terms necessary for compliance, such terms as deemed necessary by the Board in its sole discretion are hereby
incorporated by reference into the Award. Without limiting the generality of the foregoing, if shares of Common Stock are publicly
traded, and if a Participant holding an Award that constitutes &#8220;deferred compensation&#8221; under Section 409A of the Code
is a &#8220;specified employee&#8221; for purposes of Section 409A of the Code, no distribution or payment of any amount that
is due because of a &#8220;separation from service&#8221; (as defined in Section 409A of the Code without regard to alternative
definitions thereunder) will be issued or paid before the date that is six (6) months following the date of such Participant&#8217;s
 &#8220;separation from service&#8221; or, if earlier, the date of the Participant&#8217;s death, unless such distribution or payment
can be made in a manner that complies with Section 409A of the Code, and any amounts so deferred will be paid in a lump sum on
the day after such six (6) month period elapses, with the balance paid thereafter on the original schedule. The Company shall
have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or compliant with, Section
409A of the Code is not so exempt or compliant or for any other action taken by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Governing
Law</U>. The provisions of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance with the
laws of the State of Delaware, excluding choice-of-law principles of the law of such state that would require the application
of the laws of a jurisdiction other than such state.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Data
Privacy</U>. As a condition of receipt of any Award, each Participant explicitly and unambiguously consents to the collection,
use and transfer, in electronic or other form, of personal data as described in this paragraph by and among, as applicable, the
Company and its subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing the Participant&#8217;s
participation in the Plan. The Company and its subsidiaries and affiliates may hold certain personal information about a Participant,
including but not limited to, the Participant&#8217;s name, home address and telephone number, date of birth, social security
or insurance number or other identification number, salary, nationality, job title(s), any shares of stock held in the Company
or any of its subsidiaries and affiliates, details of all Awards, in each case, for the purpose of implementing, managing and
administering the Plan and Awards (the &#8220;<B>Data</B>&#8221;). The Company and its subsidiaries and affiliates may transfer
the Data amongst themselves as necessary for the purpose of implementation, administration and management of a Participant&#8217;s
participation in the Plan, and the Company and its subsidiaries and affiliates may each further transfer the Data to any third
parties assisting the Company in the implementation, administration and management of the Plan. These recipients may be located
in the Participant&#8217;s country, or elsewhere, and the Participant&#8217;s country may have different data privacy laws and
protections than the recipients&#8217; country. Through acceptance of an Award, each Participant authorizes such recipients to
receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering
and managing the Participant&#8217;s participation in the Plan, including any requisite transfer of such Data as may be required
to a broker or other third party with whom the Company or the Participant may elect to deposit any shares of Common Stock. The
Data related to a Participant will be held only as long as is necessary to implement, administer, and manage the Participant&#8217;s
participation in the Plan. A Participant may, at any time, view the Data held by the Company with respect to such Participant,
request additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary
corrections to the Data with respect to the Participant or refuse or withdraw the consents herein in writing, in any case without
cost, by contacting his or her local human resources representative. The Company may cancel Participant&#8217;s ability to participate
in the Plan and, in the Board&#8217;s discretion, the Participant may forfeit any outstanding Awards if the Participant refuses
or withdraws his or her consents as described herein. For more information on the consequences of refusal to consent or withdrawal
of consent, Participants may contact their local human resources representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Restrictions
on Shares; Claw-back Provisions</U>. Shares of Common Stock acquired in respect of Awards shall be subject to such terms and conditions
as the Board shall determine, including, without limitation, restrictions on the transferability of shares of Common Stock, the
right of the Company to repurchase shares of Common Stock, the right of the Company to require that shares of Common Stock be
transferred in the event of certain transactions, tag-along rights, bring-along rights, redemption and co-sale rights and voting
requirements. Such terms and conditions may be additional to those contained in the Plan and may, as determined by the Board,
be contained in the applicable Award Agreement or in an exercise notice, stockholders&#8217; agreement or in such other agreement
as the Board shall determine, in each case in a form determined by the Board. The issuance of such shares of Common Stock shall
be conditioned on the Participant&#8217;s consent to such terms and conditions and the Participant&#8217;s entering into such
agreement or agreements. All Awards (including any proceeds, gains or other economic benefit actually or constructively received
by Participant upon any receipt or exercise of any Award or upon the receipt or resale of any shares of Common Stock underlying
the Award) shall be subject to the provisions of any claw-back policy implemented by the Company, including, without limitation,
any claw-back policy adopted to comply with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act
and any rules or regulations promulgated thereunder, to the extent set forth in such claw-back policy and/or in the applicable
Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Quellis
biosciences, inc.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>2019
STOCK INCENTIVE PLAN</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CALIFORNIA
SUPPLEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Pursuant to Section
10(e) of the Plan, the Board has adopted this supplement for purposes of satisfying the requirements of Section 25102(o) of the
California Law:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Any Awards granted
under the Plan to a Participant who is a resident of the State of California on the date of grant (a &#8220;<B>California Participant</B>&#8221;)
shall be subject to the following additional limitations, terms and conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><U>Additional Limitations on Options</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Minimum
Vesting Rate</U>. Except in the case of Options granted to California Participants who are officers, directors, managers, consultants
or advisors of the Company or its affiliates (which Options may become exercisable at whatever rate is determined by the Board),
Options granted to California Participants shall become exercisable at a rate of not less than 20% per year over five years from
the date of grant; <I>provided, that</I>, such Options may be subject to such reasonable forfeiture conditions as the Board may
choose to impose and which are not inconsistent with Section 260.140.41 of the California Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum
Exercise Price.</U> The exercise price of Options granted to California Participants may not be less than 85% of the Fair Market
Value of the Common Stock on the date of grant in the case of a Nonstatutory Stock Option or less than 100% of the Fair Market
Value of the Common Stock on the date of grant in the case of an Incentive Stock Option; <I>provided, however</I>, that if the
California Participant is a person who owns stock possessing more than 10% of the total combined voting power of all classes of
stock of the Company or its parent or subsidiary corporations, the exercise price shall be not less than 110% of the Fair Market
Value of the Common Stock on the date of grant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Maximum Duration of Options</U>. No Options granted to California Participants shall have a term in excess of 10 years
measured from the Option grant date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Minimum Exercise Period Following Termination</U>. Unless a California Participant&#8217;s employment is terminated for
cause (as defined by applicable law, the terms of any contract of employment between the Company and such Participant, or in the
instrument evidencing the grant of such Participant&#8217;s Option), in the event of termination of employment of such Participant,
such Participant shall have the right to exercise an Option, to the extent that he or she was otherwise entitled to exercise such
Option on the date employment terminated, as follows: (i) at least six months from the date of termination, if termination was
caused by such Participant&#8217;s death or &#8220;permanent and total disability&#8221; (within the meaning of Section&nbsp;22(e)(3)
of the Code) and (ii) at least 30 days from the date of termination, if termination was caused other than by such Participant&#8217;s
death or &#8220;permanent and total disability&#8221; (within the meaning of Section 22(e)(3) of the Code).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Limitation on Repurchase Rights</U>. If an Option granted to a California Participant gives the Company the right to
repurchase shares of Common Stock issued pursuant to the Plan upon termination of employment of such Participant, the terms of
such repurchase right must comply with Section&nbsp;260.140.41(k) of the California Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>




<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><U>Additional Limitations for Restricted Stock Awards</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Minimum
Purchase Price</U>. The purchase price for a Restricted Stock Award granted to a California Participant shall be not less than
85% of the Fair Market Value of the Common Stock at the time such Participant is granted the right to purchase shares under the
Plan or at the time the purchase is consummated; <I>provided, however</I>, that if such Participant is a person who owns stock
possessing more than 10% of the total combined voting power or value of all classes of stock of the Company or its parent or subsidiary
corporations, the purchase price shall be not less than 100% of the Fair Market Value of the Common Stock at the time such Participant
is granted the right to purchase shares under the Plan or at the time the purchase is consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Limitation of Repurchase Rights</U>. If a Restricted Stock Award granted to a California Participant gives the Company
the right to repurchase shares of Common Stock issued pursuant to the Plan upon termination of employment of such Participant,
the terms of such repurchase right must comply with Section 260.140.42(h) of the California Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify"><U>Additional Limitations for Other Stock-Based Awards</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The terms of all Awards
granted to a California Participant under Section 7 of the Plan shall comply, to the extent applicable, with Section 260.140.41
or Section 260.140.42 of the California Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify"><U>Additional Requirement to Provide Information to California Participants</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The Company shall provide
to each California Participant and to each California Participant who acquires Common Stock pursuant to the Plan, not less frequently
than annually, copies of annual financial statements (which need not be audited). The Company shall not be required to provide
such statements to key employees whose duties in connection with the Company assure their access to equivalent information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify"><U>Additional Limitations on Timing of Awards</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">No Award granted to
a California Participant shall become exercisable, vested or realizable, as applicable to such Award, unless the Plan has been
approved by the holders of a majority of the Company&#8217;s outstanding voting securities within 12 months before or after the
date the Plan was adopted by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify"><U>Additional Limitations Relating to Definition of Fair Market Value</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of Section
1(b) and 2(a) of this supplement, &#8220;Fair Market Value&#8221; shall be determined in a manner not inconsistent with Section
260.140.50 of the California Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify"><U>Additional Restriction Regarding Recapitalizations, Stock Splits, Etc</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">For purposes of Section
8 of the Plan, in the event of a stock split, reverse stock split, stock dividend, recapitalization, combination, reclassification
or other distribution of the Company&#8217;s securities, the number of securities allocated to each California Participant must
be adjusted proportionately and without the receipt by the Company of any consideration from any California Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">*pool reduced 12/14/2020 Board
Consent from 238,502 to 119,251</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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