definiens: means ( A ) the Success Payment Value divided by ( B ) $ 4.00 ( as adjusted for anystock dividend, stock split, combination of shares, reorganization, recapitalization, reclassification or other similarevent).”(b ) The definition of in Section 2(c ) of the Original Letter Agreement is hereby deletedand replaced in its entirety as follows : means ( i ) December 19, 2015 ( plus a 90 - day grace period at the Company ’s option ifthe Company is contemplating capital market transactions during the grace period such as a secondary offering ) ( the ), ( ii ) with respect to any Success Payment arising as a result of a Company SaleValuation Date, the earlier of ( a ) the date on which any proceeds from the Company Sale are paid or distributed to anystockholder, and ( b ) the date that is ninety ( 90 ) days after the Company Sale Valuation Date, and ( iii ) with respect toany other Success Payment, the date that is ninety ( 90 ) days after the Valuation Date pursuant to which suchSuccess Payment obligation arises ; provided, however, that for each of clauses ( i ) through ( iii ), if the applicableSuccess Payment Date would otherwise fall on a date that is not a business day, the applicable Success PaymentDate shall instead occur on the next following business day . ”(c ) The definition of in Section 2(c ) of the Original Letter Agreement is hereby deleted andreplaced in its entirety as follows : [ * * * ] Certain information in this document has been omitted and filed separately with the Securities andExchange Commission . Confidential treatment has been requested with respect to the omitted portions . is any one of the following dates that occur during the Success Payment Period:(i ) December 19, 2014 ( the ) ; ( ii ) the date on which the Company or a successor sells, leases, transfers or exclusively licenses all or substantially all of its assets to another company ( an ) ; ( iii ) thedate on which the Company merges or consolidates with or into another entity ( other than a merger in which the pre - merger stockholders of the Company own a majority of the shares of the surviving entity ) ( a and with anAsset Sale, a, and the Valuation Dates triggered thereby each a ), ( iv ) the dates on which ARCH Venture Fund VII, L.P. ( ) or CL Alaska L.P., or either of such entity ’s affiliatedentities that hold such shares ( ) transfers a majority of its shares of company capital stock held by suchentity on such date to a third party ; ( v ) the bi - annual anniversary of any event described in the preceding clauses ( i),(ii ), ( iii ) or ( iv ), but only if FHCRC requests, within twenty ( 20 ) calendar days after written notice of such event from theCompany, that such date be considered a Valuation Date ; and ( vi ) the last day of the Success Payment Period . ”(d ) The following terms shall have the following meanings for all purposes under the Agreement : means any day other than Saturday, Sunday or other day on which commercial banks in TheCity of New York are authorized or required by law to remain closed