0001193125-20-249221 Sample Contracts

LOAN AND SECURITY AGREEMENT
Loan and Security Agreement • September 18th, 2020 • Spruce Biosciences, Inc. • Pharmaceutical preparations • Delaware

THIS LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of 9/23/2019 (the “Effective Date”) between SILICON VALLEY BANK, a California corporation (“Bank”), and SPRUCE BIOSCIENCES, INC., a Delaware corporation (“Borrower”), provides the terms on which Bank shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows:

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SPRUCE BIOSCIENCES, INC. INDEMNITY AGREEMENT
Indemnity Agreement • September 18th, 2020 • Spruce Biosciences, Inc. • Pharmaceutical preparations • Delaware

THIS INDEMNITY AGREEMENT (this “Agreement”) dated as of , 2020, is made by and between SPRUCE BIOSCIENCES, INC., a Delaware corporation (the “Company”), and (“Indemnitee”).

LICENSE AGREEMENT by and among SPRUCE BIOSCIENCES, INC. and ELI LILLY and COMPANY
License Agreement • September 18th, 2020 • Spruce Biosciences, Inc. • Pharmaceutical preparations • New York

This Agreement (the “Agreement”), effective as of the last date executed below (the “Effective Date”), is entered into by and among Spruce Biosciences, Inc., a Delaware corporation with a place of business at 548 Market St., Suite 74598, San Francisco, California, 94104 (“Spruce”), and Eli Lilly and Company, an Indiana corporation with a place of business at Lilly Corporate Center, Indianapolis, Indiana, 46285 (“Lilly”). Spruce and Lilly may be referred to herein individually as a “Party” or collectively as the “Parties”.

SPRUCE BIOSCIENCES, INC. 2016 EQUITY INCENTIVE PLAN STOCK OPTION GRANT NOTICE AND STOCK OPTION AGREEMENT
Stock Option Agreement • September 18th, 2020 • Spruce Biosciences, Inc. • Pharmaceutical preparations • Delaware

As Escrow Agent for both Spruce Biosciences, Inc. (the “Company”) and the undersigned purchaser of stock of the Company (the “Participant”), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of that certain Stock Option Grant Notice and Stock Option Agreement (the “Agreement”) between the Company and the undersigned, in accordance with the following instructions:

October 11, 2017 Camilla Simpson Re: Member of the Board of Directors Dear Camilla:
Board Member Agreement • September 18th, 2020 • Spruce Biosciences, Inc. • Pharmaceutical preparations

This letter confirms our understanding regarding the terms of your service as Member of the Board of Directors (the “Board”) of Spruce Biosciences. Inc., a Delaware corporation (the “Company”) beginning on October 19, 2017. This letter sets forth our understanding regarding such services to be performed in such capacity, and nothing in this letter nor the services rendered hereunder are meant, or shall be construed in any way or manner, to create between you and the Company a relationship of employer and employee.

SPRUCE BIOSCIENCES, INC. EMPLOYMENT AGREEMENT
Employment Agreement • September 18th, 2020 • Spruce Biosciences, Inc. • Pharmaceutical preparations • California

This Employment Agreement (the “Agreement”) is made and entered into by and between Michael Huang, MD. (“Executive”) and Spruce Biosciences, Inc. (the “Company”) (together referred to herein as the “Parties”), effective as of May 16, 2017 (the “Effective Date”). This Agreement supersedes in its entirety any other agreement to which the Company is a party with respect to Executive’s employment with the Company, except for the Proprietary Information and Inventions Assignment Agreement between the Company and Executive (the “Confidential Information Agreement”).

CONSULTING AGREEMENT Effective Date: May 6, 2019
Consulting Agreement • September 18th, 2020 • Spruce Biosciences, Inc. • Pharmaceutical preparations • California

This Consulting Agreement (the “Agreement”) is made as of the Effective Date set forth above by and between Spruce Biosciences, Inc. (“Client”) and Richard Anthony King (“Consultant”).

February 26, 2020 Michael Huang, M.D. Re: Separation Agreement Dear Mike:
Separation Agreement • September 18th, 2020 • Spruce Biosciences, Inc. • Pharmaceutical preparations • California

This letter sets forth the terms of the separation agreement that Spruce Biosciences, Inc. (the “Company”) is offering to aid in your employment transition.

SPRUCE BIOSCIENCES, INC. EMPLOYMENT AGREEMENT
Employment Agreement • September 18th, 2020 • Spruce Biosciences, Inc. • Pharmaceutical preparations • California

This Employment Agreement (the “Agreement”) is made and entered into by and between Richard A. King (“Executive”) and Spruce Biosciences, Inc. (the “Company”) (together referred to herein as the “Parties”), effective as of October 1, 2019 (the “Effective Date”).

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