# EDGAR Filing Document

**Accession Number:** 0001646681
**File Stem:** 0001628279-25-000591
**Filing Date:** 2025-9
**Character Count:** 2206750
**Document Hash:** 85cf566a9d798fabe7e2667a63070b2d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628279-25-000591.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0001628279-25-000591

**CONFORMED SUBMISSION TYPE**: DRS

**PUBLIC DOCUMENT COUNT**: 23

**FILED AS OF DATE**: 20250902

**DATE AS OF CHANGE**: 20250903

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Motive Technologies, Inc.
- **CENTRAL INDEX KEY:** 0001646681
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 462330361
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** DRS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 377-08404
- **FILM NUMBER:** 251285248

**BUSINESS ADDRESS:**
- **STREET 1:** 3500 SOUTH DUPONT HIGHWAY
- **CITY:** DOVER
- **STATE:** DE
- **ZIP:** 19901
- **BUSINESS PHONE:** 855-434-3564

**MAIL ADDRESS:**
- **STREET 1:** 3500 SOUTH DUPONT HIGHWAY
- **CITY:** DOVER
- **STATE:** DE
- **ZIP:** 19901

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Keep Truckin, Inc.
- **DATE OF NAME CHANGE:** 20150630

**Confidential draft submitted on September 2, 2025**

**This draft registration statement has not been publicly filed with the Securities and Exchange Commission, and all information herein remains strictly confidential.**

**Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-1**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

**MOTIVE TECHNOLOGIES, INC.**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **7373** | **46-2330361** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(Primary Standard Industrial**<br>**Classification Code Number)** | **(I.R.S. Employer**<br>**Identification Number)** |

---

**1355 Market Street, 11th Floor**

**San Francisco, California 94103**

**(855) 434-3564**

**(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)**

**Shoaib Makani**

**Chief Executive Officer and Co-Founder**

**Motive Technologies, Inc.**

**1355 Market Street, 11th Floor**

**San Francisco, California 94103**

**(855) 434-3564**

**(Name, address, including zip code, and telephone number, including area code, of agent for service)**

---

| | | |
|:---|:---|:---|
| **Michael A. Brown**<br>**Katherine K. Duncan**<br>**Ran D. Ben-Tzur**<br>**Chelsea Anderson**<br>**Fenwick & West LLP**<br>**555 California Street, 12th Floor**<br>**San Francisco, California 94104**<br>**(415) 875-2300** | **Shu White**<br>**Chief Legal Officer**<br>**Aaron Hou**<br>**Vice President, Legal**<br>**Motive Technologies, Inc.**<br>**1355 Market Street, 11th Floor**<br>**San Francisco, California 94103**<br>**(855) 434-3564** | **Dave Peinsipp**<br>**Jon Avina**<br>**Denny Won**<br>**Milson C. Yu**<br>**Cooley LLP**<br>**3 Embarcadero Center, 20th Floor**<br>**San Francisco, California 94111**<br>**(415) 693-2000** |

---

**Approximate date of commencement of proposed sale to the public:**

**As soon as practicable after the effective date of this registration statement.**

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended, or Securities Act, check the following box. ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

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 "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Securities Exchange Act of 1934, as amended.

---

| | |
|:---|:---|
| Large accelerated filer ☐ | Accelerated filer ☐ |
| Non-accelerated filer ☒ | Smaller reporting company ☐ |
| | Emerging growth company ☒ |

---

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 7(a)(2)(B) of the Securities Act. ☐

**The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

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**The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and we are not soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted.**

**Subject to completion, dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025**

**Preliminary prospectus**

***&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares***

![motivelogo.jpg](motivelogo.jpg)

***Class A common stock***

This is an initial public offering of shares of Class A common stock by Motive Technologies, Inc. We are offering &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock to be sold in this offering. The initial public offering price is expected to be between $&nbsp;&nbsp;&nbsp;&nbsp; and $&nbsp;&nbsp;&nbsp;&nbsp; per share.

Prior to this offering, there has been no public market for our Class A common stock. We intend to apply to list our Class A common stock on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; under the symbol "FOMO," and this offering is contingent upon obtaining such approval.

Upon the closing of this offering, we will have two authorized series of common stock: our Class A common stock, which is entitled to one vote per share, and our Class B common stock, which is entitled to 20 votes per share. Holders of our common stock will generally vote together as a single class on all matters, unless otherwise required by law or our restated certificate of incorporation that will become effective immediately prior to the closing of this offering. Shares of our Class B common stock are convertible into shares of our Class A common stock on a one-for-one basis at the option of the holder. In addition, shares of our Class B common stock will automatically convert into shares of our Class A common stock on a one-for-one basis upon any transfer, except for permitted transfers described in our restated certificate of incorporation, and in certain other circumstances. Our Class B common stock, which will be held by Shoaib Makani, our co-founder, Chief Executive Officer, and a member of our board of directors, will represent approximately &nbsp;&nbsp;&nbsp;&nbsp; % of the total voting power of our outstanding capital stock following this offering (or approximately &nbsp;&nbsp;&nbsp;&nbsp; % of the total voting power of our outstanding capital stock if the underwriters exercise their option to purchase additional shares in full). As a result, following this offering, Mr. Makani will have the ability to control the outcome of matters submitted to our stockholders for approval, including the election of our directors and the approval of any change of control transaction.

We are an "emerging growth company" as defined under the federal securities laws and, as such, we have elected to comply with certain reduced reporting requirements in this prospectus and may elect to do so in future filings.

---

| | | |
|:---|:---|:---|
| | **Per share** | **Total** |
| Initial public offering price | $ | $ |
| Underwriting discounts and commissions<sup>(1)</sup> | $ | $ |
| Proceeds to Motive Technologies, Inc., before expenses | $ | $ |

---

(1)See the section titled "Underwriting" for a description of the compensation payable to the underwriters.

We have granted the underwriters an option for a period of 30 days to purchase up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares of our Class A common stock.

**Investing in our Class A common stock involves a high degree of risk. See the section titled "<u>[Risk factors](#i55023a5380214b8183c713f6ac927c62_1052)</u>" beginning on page <u>[24](#i55023a5380214b8183c713f6ac927c62_1052)</u>.**

**Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.**

The underwriters expect to deliver the shares to purchasers on or about &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025.

---

| | | | |
|:---|:---|:---|:---|
| **J.P. Morgan** | **Citigroup** | **Barclays** | **Jefferies** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025

------

**Explanatory note**

Pursuant to the applicable provisions of the Fixing America's Surface Transportation Act, we are omitting our unaudited consolidated financial statements as of and for the six months ended June 30, 2025 and 2024, because they relate to historical periods that we believe will not be required to be included in the prospectus at the time of the contemplated offering. We intend to amend the registration statement to include all financial information required by Regulation S-X at the date of such amendment before publicly filing the registration statement.

i

------

**Table of contents**

---

| | |
|:---|:---|
| | **Page** |
| <u>[Prospectus summary](#i55023a5380214b8183c713f6ac927c62_982)</u> | <u>[1](#i55023a5380214b8183c713f6ac927c62_982)</u> |
| <u>[Risk factors](#i55023a5380214b8183c713f6ac927c62_1052)</u> | <u>[24](#i55023a5380214b8183c713f6ac927c62_1052)</u> |
| <u>[Special note regarding forward-looking statements](#i55023a5380214b8183c713f6ac927c62_1069)</u> | <u>[82](#i55023a5380214b8183c713f6ac927c62_1069)</u> |
| <u>[Industry and market data](#i55023a5380214b8183c713f6ac927c62_1087)</u> | <u>[84](#i55023a5380214b8183c713f6ac927c62_1087)</u> |
| <u>[Use of proceeds](#i55023a5380214b8183c713f6ac927c62_1105)</u> | <u>[85](#i55023a5380214b8183c713f6ac927c62_1105)</u> |
| <u>[Dividend policy](#i55023a5380214b8183c713f6ac927c62_1123)</u> | <u>[86](#i55023a5380214b8183c713f6ac927c62_1123)</u> |
| <u>[Capitalization](#i55023a5380214b8183c713f6ac927c62_1141)</u> | <u>[87](#i55023a5380214b8183c713f6ac927c62_1141)</u> |
| <u>[Dilution](#i55023a5380214b8183c713f6ac927c62_1159)</u> | <u>[90](#i55023a5380214b8183c713f6ac927c62_1159)</u> |
| <u>[Management's discussion and analysis of financial condition and results of operations](#i55023a5380214b8183c713f6ac927c62_37)</u> | <u>[93](#i55023a5380214b8183c713f6ac927c62_37)</u> |
| <u>[Business](#i55023a5380214b8183c713f6ac927c62_1197)</u> | <u>[116](#i55023a5380214b8183c713f6ac927c62_1197)</u> |
| <u>[Management](#i55023a5380214b8183c713f6ac927c62_1215)</u> | <u>[133](#i55023a5380214b8183c713f6ac927c62_1215)</u> |
| <u>[Executive compensation](#i55023a5380214b8183c713f6ac927c62_1233)</u> | <u>[142](#i55023a5380214b8183c713f6ac927c62_1233)</u> |
| <u>[Certain relationships and related party transactions](#i55023a5380214b8183c713f6ac927c62_1251)</u> | <u>[158](#i55023a5380214b8183c713f6ac927c62_1251)</u> |
| <u>[Principal stockholders](#i55023a5380214b8183c713f6ac927c62_1269)</u> | <u>[163](#i55023a5380214b8183c713f6ac927c62_1269)</u> |
| <u>[Description of capital stock](#i55023a5380214b8183c713f6ac927c62_1287)</u> | <u>[165](#i55023a5380214b8183c713f6ac927c62_1287)</u> |
| <u>[Shares eligible for future sale](#i55023a5380214b8183c713f6ac927c62_1305)</u> | <u>[173](#i55023a5380214b8183c713f6ac927c62_1305)</u> |
| <u>[Material U.S. federal income tax consequences for non-U.S. holders of our Class A common stock](#i55023a5380214b8183c713f6ac927c62_1323)</u> | <u>[176](#i55023a5380214b8183c713f6ac927c62_1323)</u> |
| <u>[Underwriting](#i55023a5380214b8183c713f6ac927c62_1341)</u> | <u>[181](#i55023a5380214b8183c713f6ac927c62_1341)</u> |
| <u>[Legal matters](#i55023a5380214b8183c713f6ac927c62_1359)</u> | <u>[193](#i55023a5380214b8183c713f6ac927c62_1359)</u> |
| <u>[Experts](#i55023a5380214b8183c713f6ac927c62_1377)</u> | <u>[193](#i55023a5380214b8183c713f6ac927c62_1377)</u> |
| <u>[Where you can find additional information](#i55023a5380214b8183c713f6ac927c62_1395)</u> | <u>[193](#i55023a5380214b8183c713f6ac927c62_1395)</u> |
| <u>[Index to consolidated financial statements](#i55023a5380214b8183c713f6ac927c62_82)</u> | <u>[F-](#i55023a5380214b8183c713f6ac927c62_82)[1](#i55023a5380214b8183c713f6ac927c62_82)</u> |

---

**Through and including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2026 (the 25th day after the date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer's obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.**

Neither we nor the underwriters have authorized anyone to provide any information or to make any representations other than those contained in this prospectus or in any free writing prospectuses prepared by or on behalf of us or to which we have referred you. Neither we nor the underwriters take any responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. We are offering to sell, and seeking offers to buy, shares of our Class A common stock offered hereby only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of the shares of our Class A common stock. Our business, operating results, and financial condition may have changed since that date.

For investors outside the United States: Neither we nor any of the underwriters have taken any action that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. You are required to inform yourselves about and to observe any restrictions relating to this offering and the distribution of this prospectus.

Unless otherwise indicated, the terms "Motive," the "company," "we," "us," and "our" refer to Motive Technologies, Inc. and our subsidiaries.

ii

------

**Prospectus summary**

*The following summary highlights selected information that is presented in greater detail elsewhere in this prospectus. This summary does not contain all the information you should consider before investing in our Class A common stock. You should carefully read this prospectus in its entirety before investing in our Class A common stock, including the sections titled "Risk factors," "Management's discussion and analysis of financial condition and results of operations," and "Special note regarding forward-looking statements," and our consolidated financial statements and the accompanying notes included elsewhere in this prospectus.*

**Our mission**

Our mission is to empower the people who run physical operations with AI-powered tools to make their work safer, more productive, and more profitable.

**Our business**

The physical economy generates over $50 trillion in annual economic output and comprises approximately 50% of global gross domestic product ("GDP"),<sup>1</sup> spanning industries and verticals like construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector, among others. Despite its scale, the physical economy has been underserved from a technology and innovation perspective relative to the knowledge economy.

Unlike the knowledge economy, which is natively connected, the physical economy runs on vehicles and equipment that are largely unconnected and workers that operate on the road or in the field. In addition to these structural challenges, organizations in the physical economy are confronted with growing safety risks, declining labor force participation, and continuously rising input costs. Existing offerings have failed to help organizations overcome these challenges due to the fragmented nature of such offerings and their lack of AI capabilities, resulting in siloed data, technical complexity, and limited automation.

We purpose-built our Integrated Operations Platform to address the challenges of the physical economy. Our platform offers a suite of products, including Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision. These six products are enabled by our Physical Operations Graph, which serves as the foundational data layer and single source of truth for our customers' physical operations. Our Physical Operations Graph connects and unifies multi-source data across workers, vehicles, equipment, and spend and helps our customers eliminate data silos, enabling cross-domain insights, integrated workflow automation, and advanced AI-powered analytics.

<sup>1</sup> According to estimates from the World Bank and a third-party report.

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The key strength of our AI system is its recursive improvement capability. Across our Physical Operations Graph, more than one million vehicles and assets generate over one trillion data points per month, building a vast and continuously growing data corpus. This data is labeled with high accuracy by a team of over 400 full-time data annotators who process tens of millions of events annually. This output is used to train our models, which are further refined with low-latency validation. As these models are deployed into production, they generate additional data that expands our training sets and continuously improves model performance over time. This cycle of recursive improvement compounds, reinforcing our AI advantage.

Our Integrated Operations Platform enables our customers to transform the safety of their workforce, the productivity of their workers and assets, and the profitability of their operations. Since January 1, 2023, we estimate that our platform helped prevent over 170,000 accidents, saved 1,500 lives, and delivered over $175 million in fuel and fraud savings to our customers. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged an 80% reduction in collisions, reduced their insurance premiums by approximately 20%, and, since implementing our platform, saved an average of 10.8 hours per week on managing vehicle or asset repairs and downtime due to improved efficiency.

As of December 31, 2024, we had nearly 100,000 customers that operated across over a dozen industries and verticals, including construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector, among others. Within each industry, our ability to partner with larger and more complex customers has been a key growth driver of our business. As of December 31, 2024, we had over 6,000 customers with an annualized recurring run-rate ("ARR") of greater than $10,000 ("Core Customers"), over 350 customers with an ARR of greater than $100,000 ("Large Customers"), and 20 customers with an ARR greater than $1 million. Our Large Customers include &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and we continue to gain traction within our Large Customers. As of December 31, 2024, our Core Customers had a net dollar retention rate ("NDR") of 110% while our Large Customers had an NDR of 124%.

We have achieved rapid growth and significant scale since our founding in 2013. In 2023 and 2024, our revenue was $310 million and $370 million, respectively, and our ARR as of December 31, 2023 and 2024 was $338 million and $417 million, respectively, representing a 19% year-over-year growth in revenue and a 23% year-over-year growth in ARR. Our loss from operations for 2023 and 2024 was $89 million and $112 million, respectively, and our non-GAAP loss from operations for 2023 and 2024 was $75 million and $82 million, respectively. We generated net losses of $109 million and $153 million in 2023 and 2024, respectively. Our loss from operations, non-GAAP loss from operations and net loss in recent periods reflect our continued investment in our business and our large market opportunity.

For definitions and additional information about ARR, NDR, and non-GAAP loss from operations, see the sections titled "Management's discussion and analysis of financial condition and results of operations—Key business metrics—Annualized recurring run-rate," "Management's discussion and analysis of financial condition and results of operations—Key factors affecting our performance—Expansion with existing customers," and "Management's discussion and analysis of financial condition and results of operations—Non-GAAP financial measures," respectively.

**Industry background**

Over the last two decades, technological advancements such as cloud computing, mobile, and AI created the foundation for significant productivity growth. The knowledge economy adopted these new technologies rapidly, which in turn drove outsized productivity gains and substantial economic growth. Despite its scale, the physical economy has been underserved from a technology and innovation perspective and is still in the early stages of adopting these technologies.

Unlike the knowledge economy, which is natively connected, the physical economy runs on vehicles and equipment that are largely unconnected and workers that operate on the road or in the field. In addition to

------

these structural challenges, organizations in the physical economy are confronted with growing safety risks, declining labor force participation, and continuously rising input costs.

***Growing safety risks***

In the physical economy, workers face growing safety risks driven by both workforce dynamics and complex operating environments. An aging labor force, longer hours, and proliferating distractions contribute to higher fatigue and reduced attentiveness. Meanwhile, roads have become less safe due to the increased prevalence of cellphone use, speeding, and aggressive driving behavior. Since 2012, fatal crashes involving large trucks have surged by &nbsp;&nbsp;&nbsp;&nbsp;. Safety incidents endanger lives, carry significant reputational risk for organizations, and drive up insurance premiums, legal liabilities, and workforce turnover. All of these factors make it more difficult and expensive for organizations to operate in the physical economy.

***Declining labor force participation***

Labor force participation has fallen consistently over the past several decades, with the U.S. labor force participation rate declining over 5% from its peak in 2000. Several industries within the physical economy saw more pronounced declines in their labor force. Retirement among experienced workers coupled with the rising difficulty of attracting younger talent has created shortages in the manufacturing sector. In addition, annual turnover rates of transportation, warehousing, and utilities workers are up to 51% per year, exacerbating the problems associated with a critical shortage of skilled labor. Persistent labor shortages and high turnover have left organizations grappling with lost revenue and operational uncertainty.

***Continuously rising input costs***

Organizations in the physical economy are facing continuously rising input costs on already thin margins. In industries such as construction and transportation, profit margins are often in the single-digit percentages, with fuel, insurance, and maintenance accounting for a substantial portion of the costs. Since 2000, fuel prices in the United States have risen 113%, compared to 82% inflation for the same period. At the same time, nuclear verdicts have driven sustained upward pressure on insurance premiums, with commercial trucking insurance premiums rising approximately 40% over the past decade, according to the American Transportation Research Institute. These factors, combined with labor force participation declines, are severely constraining margins and, in some cases, threatening the long-term survival of operators in the physical economy.

***Stricter regulatory environment***

Organizations face mounting regulatory oversight related to safety, environmental standards, and labor practices. Non-compliance can result in significant fines, legal actions, and reputational damage. In the United States, hours-of-service violations can cost up to $19,000 in fines per incident and environmental non-compliance fines can be up to $50,000 per day. Outside the United States, organizations often face stricter environmental and sustainability mandates, such as carbon pricing schemes, low-emission vehicle requirements, and fuel content regulations, which can add significant compliance costs and operational complexity.

**Key limitations of existing offerings**

Existing offerings have failed to help organizations overcome these challenges due to the fragmented nature of such offerings and their lack of AI capabilities, resulting in siloed data, technical complexity, and limited automation.

• ***Data silos limit operational visibility.*** Without a single platform to integrate critical operational data such as vehicle and equipment telematics, maintenance history, safety incidents, and spend data, organizations are forced to operate in silos, limiting visibility to identify inefficiencies or detect emerging risks. This fragmentation prevents organizations from making informed decisions and

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creates inefficiencies such as underutilized equipment, reactive maintenance, and wasteful fuel spend, ultimately driving higher operational costs.

• ***Point solutions compound technical complexity.*** Decades of reliance on point solutions has resulted in a patchwork of narrowly focused tools that do not integrate with each other, requiring organizations to manage disconnected workflows and multiple vendors. Attempting to integrate point solutions introduces unnecessary technical complexity, increases IT and administrative burden, and results in higher operating expenses.

• ***Inability to deliver high-accuracy AI.*** Existing offerings claiming AI capabilities suffer from limited breadth and poor accuracy because they are unable to aggregate sufficient training data, do not label the data effectively, and lack domain expertise, and thus cannot deliver on high-accuracy AI models that meet the demands of physical operations. These offerings generate high rates of false positives or fail to detect all events, burdening customers who are forced to review and manually validate the output of these AI models. As a result, organizations are unable to drive decisions with confidence or automate workflows at scale, limiting the effectiveness of these offerings.

**Our AI-powered Integrated Operations Platform** 

Our Integrated Operations Platform is purpose-built to address the challenges of the physical economy. Our platform offers a suite of products, including Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision. These six products are enabled by our Physical Operations Graph, which serves as the foundational data layer and single source of truth for our customers' physical operations. Our Physical Operations Graph connects and unifies multi-source data across workers, vehicles, equipment, and spend and helps our customers eliminate data silos, enabling cross-domain insights, integrated workflow automation, and advanced AI-powered analytics.

![prosumm1a.jpg](prosumm1a.jpg)

We offer the following products within our Integrated Operations Platform:

• ***Driver Safety.*** Our Driver Safety product uses the industry's most accurate AI Dashcam to monitor and protect drivers and gives safety managers the tools to prevent accidents and reduce risk. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged an 80% reduction in collisions and a 20% reduction in accident-related costs.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***• Fleet Management.*** Our Fleet Management product provides visibility into the location, utilization, and health of vehicles and automates major operational workflows for fleet managers, dispatchers, and maintenance teams. Customers spent 50% less time on tracking vehicles and assets and saved 20% in annual costs due to efficient fuel and maintenance management after adopting our Fleet Management product based on our internal studies.

• ***Equipment Monitoring.*** Our Equipment Monitoring product provides visibility into the location, utilization, and health of equipment and automates major operational workflows for equipment managers, dispatchers, and maintenance teams.

• ***Spend Management***. Our Spend Management product gives finance and operations teams complete control over fleet-related spend. By natively integrating vehicle telematics and Motive Card payments data, our customers can reduce fraud, enforce spend policies, and access discounts through the Motive partner network. Since January 1, 2024, Spend Management customers have saved more than 8% of their total fleet-related spend due to fraud and suspicious spend detection and Motive partner network discounts.

• ***Workforce Management.*** Our integrated Workforce Management product helps organizations reduce administrative burden and elevate employee performance. Our customers can manage qualification documents, time tracking, and employee training, and deliver personalized coaching to improve performance.

• ***AI Vision.*** Our AI Vision product is a general-purpose computer vision system for physical operations, with the ability to develop and deploy tailor-made AI models for industry-specific use cases. Customers can leverage AI Vision to solve a wide range of operational challenges spanning service verification, worksite safety, cargo security, passenger monitoring, and more.

**Our approach to AI** 

Our approach to AI is the core reason why our solutions are so valuable to organizations in the physical economy.

The value of our AI to customers is ultimately defined by its high degree of accuracy, which means achieving both high precision and high recall. High precision means that false alerts are not generated or occur at a minimal rate, while high recall means that true events are detected and surfaced to customers. Accuracy is critical in areas such as accident detection, unsafe behavior monitoring, and service verification, where errors can directly affect people's lives and jobs. Too many false alerts cause customers to lose trust in the system's usefulness, while too many missed detections reduce the system's ability to improve safety, operational efficiency, and profitability. For our customers and their employees, the accuracy of our AI solutions is essential.

Proprietary hardware is integral to data quality and model performance and our ability to deliver new features over time. Devices such as our AI Dashcam and Vehicle Gateway are built with advanced silicon optimized for sensor fusion and running small neural networks. We use our perception engine to combine the output of those models with input from the vehicle and other onboards sensors, and feed the combined results into our analysis engine, allowing us to generate accurate alerts and enable real-time intervention. These devices are purpose-built to operate in harsh environments and constrained power conditions, capturing high-fidelity, multimodal data, including video, audio, telematics, GPS, and vehicle diagnostics. Our hardware is designed to improve over time through regular model and software updates.

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Our AI model development and evaluation practices are built by our team of highly-skilled AI engineers and over 400 full-time data annotators as of December 31, 2024. Low-latency validation ensures model outputs align with operational realities, with events quickly reviewed and false positives proactively eliminated. This process establishes a feedback loop that constantly improves model accuracy. Industry benchmarks confirm that our models achieve high true positive rates relative to industry peers. This means nearly flawless event detection and monitoring for our customers and a continuous fast-paced training loop for improving and releasing new models. Today, our Driver Safety AI models monitor 15 unsafe behaviors, and we plan to expand coverage over time. While we continue to make our existing models more accurate, our AI engineers are also focused on building new models to further serve our customers' needs.

![prosumm2a.jpg](prosumm2a.jpg)

Examples of how our approach to AI allows us to solve challenging use cases include:

• ***Unsafe parking***, or "sitting duck" scenarios, represent some of the most dangerous events for drivers and are among the hardest to detect accurately. A vehicle pulled over on the side of a freeway due to mechanical failure can seem deceptively similar to a vehicle stopped in traffic in the rightmost lane next to the shoulder, or vehicles legally parked at rest stops by the highway. GPS data alone is insufficient for reliable detection. A location resolution of five meters can cause a legal stop to be

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confused with dangerous ones. Addressing this problem requires more than just computer vision and location; it demands accurate perception, precise localization, and deep contextual understanding. Our system integrates all three: rich multimodal data, deep domain expertise, and low-latency validation of edge cases. This reflects not only an engineering challenge, but a domain challenge, and we have addressed it at scale.

• ***Driver fatigue*** is one of the most complex and high-stakes problems in driver safety. Unlike discrete safety events, driver fatigue develops gradually and is often difficult to detect, as it manifests through subtle cues over time. By the time it becomes readily apparent, the risks to drivers and vehicles can already become substantial. Our Driver Fatigue Index combines micro-behaviors, like yawning, eye rubbing, stretching, and head droop, with patterns in driving dynamics such as late braking, swerving, inconsistent speed, and abnormal acceleration. These signals are noisy, brief, and often missed by traditional models. Detecting them at scale requires rich multimodal data, finely tuned models, and robust temporal fusion across driver-facing and road-facing cameras, telematics, and historical behavior, deep domain expertise in understanding how fatigue manifests differently across drivers, vehicles, and operating conditions, and continuous feedback loop from low-latency validation from annotators that confirms ambiguous signals in real time. Our strength lies in the ability to aggregate fragmented signals into a coherent fatigue risk profile, enabling earlier and more accurate detection before risks escalate.

Our approach to AI is designed for environments where worker safety and operational efficiency are paramount. Customers use our platform for decisions that have profound consequences: protecting lives, ensuring delivery of services, preventing theft and fraud, and mitigating liability. In these contexts, tolerance for AI errors such as false positives or hallucinations is exceedingly low. Our low-latency validation process, paired with proprietary hardware and comprehensive data from our Physical Operations Graph, enables the delivery of highly accurate, trustworthy AI that meets the demands of the physical economy.

**Key benefits of our platform**

Our Integrated Operations Platform delivers the following key benefits to our customers:

• ***Improve safety.*** Our AI-powered safety products create safer work environments. Our AI Dashcam detects unsafe behavior and alerts drivers in real time. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged an 80% reduction in collisions. Since January 1, 2023, we estimate that our platform helped prevent over 170,000 accidents and saved 1,500 lives.

• ***Enhance productivity.*** Our platform automates manual processes and optimizes equipment and asset utilization to increase operational productivity. For example, our Face Match capability automates the process of linking workers to the vehicles they operate, a task that traditionally requires manual effort. The automatic tracking of distance traveled and fuel purchased by jurisdiction enables our customers to seamlessly complete fuel tax reporting, and our customers report saving hundreds of hours of human review. On the equipment side, our platform automatically identifies equipment availability within geofenced locations, providing a real-time inventory view that helps planners spot gaps and redeploy assets for upcoming jobs, boosting operational efficiency and reducing downtime caused by missing or misplaced equipment. Based on our internal studies, customers spent 50% less time on manual paperwork and outdated processes and 50% less time tracking vehicles and assets.

• ***Increase profitability.*** Our platform increases profitability by reducing accidents, optimizing fuel usage, and reducing fraud. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged a 20% reduction in accident-related costs and a 20% reduction in their insurance premiums due to fewer collisions. In addition, our ability to combine vehicle telematics data with fuel purchase data allows us to detect fraud effectively with the Motive Card. We delivered an estimated $175 million in fuel and fraud savings to our customers in

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024. On average, we help our customers save $3.4 million per year in accident, insurance, and fuel costs for every 1,000 vehicles they operate.

**Our market opportunity**

Our Integrated Operations Platform is designed to address the challenges of the physical economy, offering a suite of products, including Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision. We estimate our market opportunity to be approximately $187 billion, with significant opportunities across each of our product offerings:

***Driver Safety and Fleet Management.*** We estimate the global opportunity for our Driver Safety and Fleet Management products to be approximately $60 billion.

***Workforce Management.*** We estimate the global opportunity for our Workforce Management product to be approximately $23 billion.

***Equipment Monitoring.*** We estimate the global opportunity for our Equipment Monitoring product to be approximately $28 billion.

***Spend Management.*** We estimate the global opportunity for our Spend Management product to be approximately $30 billion.

***AI Vision.*** We estimate the global opportunity for our AI Vision product to be approximately $46 billion.

**Our customers**

We serve a diverse set of customers across a broad range of industries and verticals, including construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector, among others. As of December 31, 2024, we had over 6,000 Core Customers, which represented approximately 64% of our total ARR. The number of Core Customers increased by 20% from December 31, 2023 to December 31, 2024, and ARR from Core Customers increased by 41% over the same period.

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The chart below illustrates the percentage of our ARR by industry as of December 31, 2024, highlighting the breadth of our customer base across the physical economy:

![business3c.jpg](business3c.jpg)

We have experienced strong customer adoption of our products beyond the trucking and logistics industry, with ARR from industries outside of trucking and logistics representing 67% of our total ARR as of December 31, 2024, compared to 61% as of December 31, 2023. Our fastest growing verticals include construction, field service, and passenger transit.

We initially focused on addressing the needs of small and medium-sized businesses engaged in physical operations that had limited access to technology solutions to manage their workers, vehicles, equipment, and spend. We concentrated on refining our products, aiming to offer the best solution for these customers to improve their safety, productivity, and profitability. As our business grew, we began capturing larger organizations by strengthening our field sales capabilities and strategically scaling our go-to-market organization. We have achieved significant traction with these customers. As of December 31, 2024, we had over 350 Large Customers and 20 customers with ARR greater than $1 million.

**Our competitive strengths**

We believe our competitive strengths, which allow us to deliver differentiated value to customers across the physical economy, include:

• ***The only platform that unifies safety, operations, and finance.*** Motive is the only platform that enables safety, operations, and finance teams to manage their workers, vehicles, equipment, and spend in one system. Our Integrated Operations Platform encompasses six primary products: Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision. By breaking down data silos and reducing technical complexity, our all-in-one platform gives customers insights that were previously fragmented or hard to uncover. This integrated approach also reduces friction in adoption of our platform and strengthens retention as customers see Motive as the system of record for their physical operations.

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• ***Recursive improvement capability.*** The key strength of our AI system is its recursive improvement capability. Across our Physical Operations Graph, more than one million vehicles and assets generate over one trillion data points per month, building a vast and continuously growing data corpus. This data is labeled with high accuracy by a team of over 400 full-time data annotators who process tens of millions of events annually. This output is used to train our models, which are further refined with low-latency validation. As these models are deployed into production, they generate additional data that expands our training sets and continuously improves model performance over time. This cycle of recursive improvement compounds, reinforcing our AI advantage.

• ***Fast time to value.*** We are focused on speed to value and delivering measurable returns to our customers, which includes fast implementation and high return-on-investment in the first year of use. For enterprise customers, the average implementation period of our Fleet Management product is under three months, 20% to 30% faster than our competitors, and they typically see a return on their investment within six months, up to 63% faster than our competitors. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged a 20% reduction in accident-related costs and a 20% reduction in their insurance premiums due to fewer collisions.

• ***Exceptional customer experience.*** Our customers rely on us to solve mission-critical operational challenges. Our combination of exceptional technology and exceptional service yields exceptional outcomes for our customers. Our products are designed to be easy to deploy, reliable in operation, and intuitive to use. This is supported by our service model, which provides change management, installation, education, and subject matter expertise. Our approach fosters rapid adoption and high satisfaction, which enables strong retention and expansion across our customer base. As a testament to our focus on delivering a superior customer experience, we have earned G2's top leader badges and placed first in G2's 2025 Summer Report for Enterprise Fleet Management.

**Our growth strategies**

We aim to achieve continued growth through the following strategies:

***Continuous product innovation***

We intend to continue developing innovative products, guided by a company culture that is customer-centric and problem seeking.

We actively engage with customers to understand their needs, and when we identify challenges that are both meaningful and shared across our customer base, we move quickly to build solutions. For example, based on customer feedback, we recently developed an AI model for the waste industry to detect contamination by identifying non-compliant materials in collected waste. We were able to build a prototype within weeks for a solution that could potentially be applied across over 140,000 waste and recycling trucks in North America. We translate customer needs into solutions with speed and scale, and we intend to continue to invest in our research and development capabilities, including introducing new products to our platform for a wide range of use cases.

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***Expand our Core Customer base***

We believe there remains a significant opportunity to further expand our Core Customer base. These organizations face complex operational challenges, but continue to rely on legacy offerings or nothing at all. We intend to capture this opportunity by continuing to invest in sales and marketing to drive adoption of our platform.

We will continue to target larger organizations that seek integrated solutions to manage their workers, vehicles, equipment, and spend in one system. As of December 31, 2024, we had over 6,000 Core Customers, over 350 Large Customers, and 20 customers with an ARR greater than $1 million. We intend to continue to focus on increasing the number of our Core and Large Customers given their higher revenue potential and greater platform stickiness by growing our sales capacity and increasing our sales efficiency.

***Deepen multi-product adoption***

We intend to increase adoption of multiple products, at initial land and through cross-selling over time. As of December 31, 2024, approximately 89% of our Core Customers adopted two or more of our products.

We have experienced significant success in driving expansion with our existing customers. As of December 31, 2024, our Core Customers had an NDR of 110%, and our Large Customers had an NDR of 124%, reflecting the strong expansion we have achieved within our customer base, particularly among our Large Customers. We plan to continue driving customer expansion by increasing multi-product adoption, especially by our Core and Large Customers.

***Expand internationally***

We view international expansion as a substantial long-term growth opportunity for our business. In 2024, our customers in the United States and Canada accounted for more than 99% of our revenue. We have begun building our international presence with sales operations in Mexico in 2024 and the United Kingdom in 2025. We intend to continue investing in and expanding our international operations, including localized product development and go-to-market capabilities, to serve customers in new geographies.

**Risk factors summary**

Our business is subject to numerous risks and uncertainties of which you should be aware before making a decision to invest in our Class A common stock. These risks, among others, are more fully described in the section titled "Risk factors" immediately following this prospectus summary. These risks include the following:

• We have experienced rapid growth which may not be indicative of our future growth, and if we do not effectively manage our future growth, our business, operating results, and financial condition may be adversely affected. Our rapid growth also makes it difficult to evaluate future prospects.

• We have a history of losses, anticipate increasing our operating expenses in the future, and may not achieve or sustain profitability. If we cannot achieve and sustain profitability, our business, operating results, and financial condition will be adversely affected.

• If we are unable to attract new customers or retain and increase adoption of our products and services by existing customers, we may not achieve the growth we expect, which would adversely affect our business, operating results, and financial condition.

• If we are not able to effectively introduce enhancements to our platform, including new offerings, features, and functionality, that achieve widespread market adoption, or keep pace with technological developments, our business, operating results, and financial condition could be adversely affected.

• Our significant investment in AI initiatives and use of AI to power our platform exposes us to risk, which could adversely affect our reputation, business, operating results, and financial condition.

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• Our operating results may fluctuate significantly, which could make our future results difficult to predict and could cause our operating results to fall below expectations.

• Our sales cycles can be long and unpredictable, and our sales efforts require considerable time and expense.

• We face intense competition and could lose market share to our competitors, which would adversely affect our business, operating results, and financial condition.

• We operate a global business that exposes us to risks associated with conducting business in multiple jurisdictions.

• Because we depend on several third-party manufacturers to build our devices, we are susceptible to manufacturing delays that could prevent us from shipping customer orders on time, if at all, and may result in the loss of sales and customers. Additionally, third-party manufacturing cost increases and changes in the geopolitical environment could result in lower gross margins.

• Security and privacy breaches may adversely impact our business, operating results, and financial condition.

• If our platform fails to perform properly, whether due to material defects with the hardware devices, platform software, or mobile applications, our reputation could be adversely affected, our market share could decline, and we could be subject to claims for returns, refunds, credits, damages, indemnity, or other forms of liability, including lawsuits.

• We rely on Shoaib Makani, our co-founder, Chief Executive Officer, and a member of our board of directors, other members of our management team, and other key employees and will need additional personnel to grow our business, and the loss of one or more key employees or our inability to hire, integrate, train, manage, retain, and motivate qualified personnel, including members of our board of directors, could harm our business.

• Failure to obtain, maintain, protect, or enforce our intellectual property and proprietary rights could enable others to copy or use aspects of our platform without compensating us, which could harm our brand, business, operating results, and financial condition.

• Third parties have claimed and may claim that our platform infringes, misappropriates, or otherwise violates their intellectual property rights and such claims could be time-consuming or costly to defend or settle, result in the loss of significant rights, or harm our relationships with our customers or reputation in the industry.

• Our business is subject to complex and evolving U.S. and foreign laws, regulations, and industry standards, many of which are subject to change and uncertain interpretations, which uncertainty could harm our business, operating results, and financial condition.

• The dual-class structure of our common stock has the effect of concentrating voting power with Shoaib Makani, our co-founder, Chief Executive Officer, and a member of our board of directors, which will limit your ability to influence the outcome of important transactions, including a change in control.

If we are unable to adequately address these or the other risks we face, our business, operating results, and financial condition could be adversely affected.

**Channels for disclosure of information**

Following the effectiveness of the registration statement of which this prospectus forms a part, we intend to announce material information to the public through filings with the Securities and Exchange Commission (the "SEC"), the investor relations page on our website (www.gomotive.com), the blog on our website, the newsroom page on our website, press releases, public conference calls, public webcasts,

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our X account (@Motive_inc), our Facebook page, our Instagram page, our LinkedIn page, and Shoaib Makani's LinkedIn page. The information contained on, or that can be accessed through, our websites are not a part of this prospectus. Investors should not rely on any such information in deciding whether to purchase our Class A common stock.

The information disclosed by the foregoing channels could be deemed to be material information. As such, we encourage investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels.

Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page on our website.

**Corporate and other information**

We were incorporated in the State of Delaware in March 2013 as "Keep Truckin, Inc." Our principal executive offices are located at 1355 Market Street, 11th Floor, San Francisco, California 94103. Our telephone number is (855) 434-3564. Our website address is www.gomotive.com. The information contained on, or that can be accessed through, our website is not a part of this prospectus. Investors should not rely on any such information in deciding whether to purchase shares of our Class A common stock.

Motive, the Motive logos, and other registered or common law trade names, trademarks, or service marks of Motive appearing in this prospectus are the property of Motive Technologies, Inc. This prospectus contains additional trade names, trademarks, logos, and service marks of ours and of other companies. We do not intend our use or display of other companies' trade names, trademarks, logos, or service marks to imply a relationship with these other companies, or endorsement or sponsorship of us by these other companies. Other trademarks appearing in this prospectus are the property of their respective holders. Solely for convenience, our trade names, trademarks, logos, and service marks referred to in this prospectus may appear without the® and™ symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights, or the right of the applicable licensor, to these trade names, trademarks, logos, and service marks.

**Implications of being an emerging growth company**

We qualify as an emerging growth company, as defined in Section 2(a) of the Securities Act of 1933, as amended (the "Securities Act"), as modified by the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"). As an emerging growth company, we may take advantage of specified reduced disclosure and other requirements that are otherwise applicable, in general, to public companies that are not emerging growth companies. These provisions include:

• being permitted to present only two years of audited financial statements, in addition to any required unaudited interim financial statements, with correspondingly reduced "Management's discussion and analysis of financial condition and results of operations" disclosure in this prospectus;

• an exemption from compliance with the auditor attestation requirement on the effectiveness of our internal control over financial reporting pursuant to the Sarbanes-Oxley Act of 2002;

• an exemption from the requirement that critical audit matters be discussed in our independent auditor's reports on our audited financial statements or any other requirements that may be adopted by the Public Company Accounting Oversight Board unless the SEC determines that the application of such requirements to emerging growth companies is in the public interest;

• reduced disclosure obligations regarding our executive compensation arrangements;

• exemptions from the requirements to obtain a non-binding advisory vote on executive compensation or a stockholder approval of any golden parachute arrangements not previously approved; and

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• extended transition periods for complying with new or revised accounting standards.

We will remain an emerging growth company until the earliest to occur of: (i) the last day of the fiscal year in which we have more than $1.235 billion in annual revenue; (ii) the date we qualify as a "large accelerated filer," as defined in the rules under the Securities Exchange Act of 1934, as amended, with at least $700 million of common equity held by non-affiliates; (iii) the date on which we have issued, in any three-year period, more than $1.0 billion in non-convertible debt securities; and (iv) the last day of the fiscal year ending after the fifth anniversary of the closing of this offering.

We may take advantage of these exemptions until such time that we are no longer an emerging growth company. Accordingly, the information contained herein may be different than the information you receive from other public companies. Further, pursuant to Section 107 of the JOBS Act, as an emerging growth company, we have elected to take advantage of the extended transition period for complying with new or revised accounting standards until those standards would otherwise apply to private companies. As a result, our results of operations and financial statements may not be comparable to the results of operations and financial statements of other companies that have adopted the new or revised accounting standards. See the section titled "Risk factors—Risks related to this offering and ownership of our Class A common stock—We are an "emerging growth company" and the reduced reporting requirements applicable to emerging growth companies could make our Class A common stock less attractive to investors."

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**The offering**

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| | |
|:---|:---|
| **Class A common stock offered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares (or &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares if the underwriters exercise their option to purchase additional shares in full). |
| **Option to purchase additional shares of Class A common stock**  | We have granted the underwriters an option for a period of 30 days to purchase up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares of Class A common stock. |
| **Class A common stock to be outstanding after this offering**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares if the underwriters exercise their option to purchase additional shares in full). |
| **Class B common stock to be outstanding after this offering**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares if the underwriters exercise their option to purchase additional shares in full). |
| **Total Class A and Class B common stock to be outstanding immediately after this offering**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares if the underwriters exercise their option to purchase additional shares in full). |
| **Use of proceeds**  | We estimate that the net proceeds from this offering will be approximately $&nbsp;&nbsp;&nbsp;&nbsp; million (or approximately $&nbsp;&nbsp;&nbsp;&nbsp; million if the underwriters exercise their option to purchase additional shares in full), based upon the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and after deducting underwriting discounts and commissions and estimated offering expenses.<br>The principal purposes of this offering are to create a public market for our Class A common stock, increase our visibility in the marketplace, obtain additional capital, and increase our capitalization and financial flexibility. We currently intend to use the net proceeds from this offering primarily for working capital and other general corporate purposes, which may include product development, general and administrative matters, and capital expenditures. We also intend to use approximately $&nbsp;&nbsp;&nbsp;&nbsp; million of the net proceeds to satisfy our estimated tax withholding and remittance obligations related to the RSU Net Settlement (as defined below). We may also use a portion of the net proceeds, if any, for the acquisition of, or investment in, technologies, solutions, or businesses that complement our business. However, we do not have agreements or commitments for any material acquisitions or investments at this time.<br>We will have broad discretion in the way that we use the net proceeds of this offering. See the section titled "Use of proceeds" for additional information.  |

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|:---|:---|
| **Voting rights**  | Upon the closing of this offering, we will have two authorized series of common stock: Class A common stock, which is entitled to one vote per share, and Class B common stock, which is entitled to 20 votes per share.<br>Holders of our Class A common stock and Class B common stock will generally vote together as a single class, unless otherwise required by law or our restated certificate of incorporation that will become effective immediately prior to the closing of this offering. Each share of our Class B common stock will be convertible into one share of our Class A common stock at any time and will convert automatically upon certain transfers and upon the Final Conversion Date (as defined below).  |
| **Concentration of ownership**  | Upon the closing of this offering, and assuming no exercise of the underwriters' option to purchase additional shares, Shoaib Makani, our co-founder, Chief Executive Officer, and a member of our board of directors, will represent approximately &nbsp;&nbsp;&nbsp;&nbsp; % of the total voting power of our outstanding capital stock following this offering (or approximately % of the total voting power of our outstanding capital stock if the underwriters exercise their option to purchase additional shares in full), which voting power may increase over time upon the exercise or settlement and exchange of equity awards held by Mr. Makani pursuant to the Exchange Agreement (as defined below). <br>As a result, following this offering, Mr. Makani will have the ability to control the outcome of matters submitted to our stockholders for approval, including the election of our directors and the approval of any change of control transaction. These risks are more fully described in the section titled "Risk factors." See the sections titled "Principal stockholders" and "Description of capital stock" for additional information. |
| **Dividend policy**  | We have never declared or paid any cash dividends on our capital stock. We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any dividends on our capital stock in the foreseeable future. Additionally, our ability to pay dividends or make distributions is limited by certain restrictions provided under the Credit Agreement and the Convertible Securities (each as defined below). For additional information regarding the Credit Agreement and the Convertible Securities, see the section titled "Management's discussion and analysis of financial condition and results of operations—Liquidity and capital resources—Sources of liquidity." Any future determination to declare dividends will be made at the discretion of our board of directors and will depend, among other things, on our financial condition, results of operations, capital requirements, general business conditions, restrictions in our current or future debt instruments, and other factors that our board of directors may deem relevant. See the section titled "Dividend policy" for additional information. |
| **Risk factors**  | See the section titled "Risk factors" for a discussion of factors you should carefully consider before deciding to invest in shares of our Class A common stock. |

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| **Proposed**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **symbol**  | "FOMO" |

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The number of shares of our Class A common stock and Class B common stock that will be outstanding after this offering is based on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock outstanding and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class B common stock outstanding, each as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 (after giving effect to the Capital Stock Conversion, the Security Conversion, the RSU Net Settlement, and the Warrant Exercises (each as defined below)), and excludes:

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of stock options to purchase shares of our Class A common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under our Amended and Restated 2013 Equity Incentive Plan (as amended, the "2013 Plan"), with a weighted-average exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of stock options to purchase shares of our Class A common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan, with an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, for which the market-based vesting condition was not satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of restricted stock units ("RSUs") outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan (i) for which the service-based vesting condition was not satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and (ii) for which the liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part, after giving effect to the RSU Net Settlement;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of RSUs, subject to service-based vesting conditions, granted after &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan, after giving effect to the RSU Net Settlement;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of RSUs outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan (i) for which the market-based vesting condition or performance-based vesting condition was not satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and (ii) for which the liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part, after giving effect to the RSU Net Settlement;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, of which (i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share and (ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share; and

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock reserved for future issuance under our equity compensation plans, consisting of (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock available for future issuance under the 2013 Plan, as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 (which amount does not reflect RSUs that may be settled for shares of our Class A common stock granted after &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025); (ii)&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock reserved for future issuance under our 2025 Equity Incentive Plan (the "2025 Plan"), which will become effective on the date immediately prior to the date of this prospectus; and (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock reserved for issuance under our 2025 Employee Stock Purchase Plan (the "2025 ESPP"), which will become effective on the date of this prospectus.

On the date of this prospectus, any remaining shares of our Class A common stock available for issuance under the 2013 Plan will be added to the shares of our Class A common stock reserved for issuance under the 2025 Plan, and we will cease granting awards under the 2013 Plan. The 2025 Plan and 2025 ESPP also provide for automatic annual increases in the number of shares reserved thereunder. See the section titled "Executive compensation—Stock plans" for additional information.

Pursuant to a stock exchange agreement (the "Exchange Agreement") entered into between us and Shoaib Makani, Mr. Makani has the right (but not an obligation) to require us to exchange any shares of

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our Class A common stock received by him upon the exercise or settlement of equity awards for an equivalent number of shares of our Class B common stock. Such rights under the Exchange Agreement apply to shares of our Class A common stock received upon the exercise or settlement of equity awards that were held by Mr. Makani on the date of the Exchange Agreement and any such equity awards received by him following such date. As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, there were &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock subject to outstanding equity awards held by Mr. Makani that may be exchanged, upon the exercise or settlement of such equity awards, for an equivalent number of shares of our Class B common stock.

Unless otherwise noted, the information in this prospectus reflects and assumes or gives effect to the following:

• a &nbsp;&nbsp;&nbsp;&nbsp; -for-&nbsp;&nbsp;&nbsp;&nbsp; reverse stock split of our outstanding capital stock, which we effected on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025;

• the automatic conversion of an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our convertible preferred stock and senior convertible preferred stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 into the same number of shares of our Class A common stock in connection with the closing of this offering pursuant to the terms of our restated certificate of incorporation, as currently in effect (the "Capital Stock Conversion");

• (i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon conversion of $100.0 million of, and accrued and unpaid yield on, our outstanding amended and restated convertible securities (the "2019 Convertible Notes") and (ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon conversion of $150.0 million of, and accrued and unpaid yield, if any, on our outstanding convertible securities (the "2025 Convertible Securities," and, together with the 2019 Convertible Notes, the "Convertible Securities"), each based upon an assumed conversion date of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2025 and the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, which Convertible Securities will automatically convert in connection with the closing of this offering pursuant to their terms (the "Security Conversion"). Each $1.00 increase in the assumed initial public offering price per share of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would decrease the number of shares of our Class A common stock issued in the Security Conversion by &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares, and each $1.00 decrease in the assumed initial public offering price per share of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase the number of shares of our Class A common stock issued in the Security Conversion by &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares (for more information on the Security Conversion for the 2019 Convertible Notes, see Note 8 "Debt," and for more information on the Security Conversion for the 2025 Convertible Securities, see Note 14 "Subsequent events," each in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus);

• the net issuance of (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock in connection with the vesting and settlement of RSUs outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 for which the service-based vesting condition was satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and for which the liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock in connection with the vesting and settlement of RSUs outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 for which the service-based vesting condition will be satisfied on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, the expected effective date of the registration statement of which this prospectus forms a part, and for which the liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part; and (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock in connection with the vesting and settlement of RSUs granted after &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 for which we expect the service-based vesting condition will be satisfied on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, the expected effective date of this offering (clauses (i), (ii), and (iii) collectively, the "IPO Vesting RSUs"), after giving effect to the withholding of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock to satisfy our associated estimated tax withholding and remittance obligations (based upon the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and an assumed &nbsp;&nbsp;&nbsp;&nbsp; % tax withholding rate) (the "RSU Net Settlement");

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of warrants outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 to purchase shares of our Class A common stock (the "Warrant Exercises"), based upon an assumed conversion date of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2025 and the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, which Warrant Exercises may occur, if at all, prior to the closing of this offering;

• the filing and effectiveness of our restated certificate of incorporation and the effectiveness of our restated bylaws, each of which will occur immediately prior to the closing of this offering;

• except as described above, no exercise of outstanding stock options or warrants or settlement of RSUs subsequent to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, except the RSU Net Settlement and the Warrant Exercises; and

• no exercise of the underwriters' option to purchase additional shares.

The assumed &nbsp;&nbsp;&nbsp;&nbsp; % tax withholding rate used in this prospectus is an assumed blended withholding rate for the IPO Vesting RSUs that are subject to withholding in the RSU Net Settlement. The estimates in this prospectus relating to the RSU Net Settlement and related share withholding may differ from actual results due to, among other things, the actual initial public offering price per share and other terms of this offering determined at pricing, actual forfeitures through the date of this prospectus, and actual tax withholding rates.

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**Summary consolidated financial and other data**

The following tables summarize our consolidated financial and other data as of the dates and for the periods presented. We derived our summary consolidated statements of operations data for 2023 and 2024 (except for pro forma basic and diluted net loss per share attributable to common stockholders and weighted-average shares used in computing pro forma basic and diluted net loss per share attributable to common stockholders) from our consolidated financial statements included elsewhere in this prospectus. Our historical results are not necessarily indicative of the results to be expected in the future.

You should read the following summary consolidated financial and other data in conjunction with the section titled "Management's discussion and analysis of financial condition and results of operations" and our consolidated financial statements, the accompanying notes, and other financial information included elsewhere in this prospectus. The summary consolidated financial and other data in this section are not intended to replace our consolidated financial statements and the accompanying notes and are qualified in their entirety by our consolidated financial statements and the accompanying notes included elsewhere in this prospectus.

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands, except share and per share data)** | **2023** | **2024** |
| **Consolidated statements of operations data:** |  |  |
| Revenue | $310309 | $370450 |
| Cost of revenue<sup>(1)</sup> | 91161 | 111901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 219148 | 258549 |
| Operating expenses<sup>(1)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 139609 | 180083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 94369 | 98716 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 62951 | 87456 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal settlement | 1800 | 4201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease impairment and abandonment | 7433 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring | 2188 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 308350 | 370456 |
| Loss from operations | (89202) | (111907) |
| Other expense, net | (18963) | (40326) |
| Loss before income taxes | (108165) | (152233) |
| Provision for income taxes | (602) | (752) |
| Net loss | $(108767) | $(152985) |
| Basic and diluted net loss per share: |  |  |
| Net loss per share attributable to common stockholders, basic and diluted<sup>(2)</sup> | $(1.24) | $(1.73) |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted<sup>(2)</sup> | 87652608 | 88525717 |

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(1)Includes stock-based compensation expense as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Cost of revenue | $1 | $— |
| Sales and marketing | 403 | 100 |
| Research and development | 1066 |  |
| General and administrative | 1295 | 1080 |
| &nbsp;&nbsp;&nbsp;Total stock-based compensation expense | $2765 | $1180 |

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(2)See Note 12 "Net loss per share, basic and diluted" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus for an explanation of the calculation of our basic and diluted net loss attributable to common stockholders.

The following table sets forth the computation of unaudited pro forma basic and diluted net loss per share attributable to common stockholders for the period presented. Pro forma basic and diluted net loss per share for 2024 gives effect to the Capital Stock Conversion, the Security Conversion, the RSU Net Settlement, and the Warrant Exercises, as if each had occurred as of the beginning of the period.

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| | |
|:---|:---|
| **(in thousands, except per share data)** | **Year ended December 31, 2024** |
| **Numerator:** | |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro forma adjustment to record stock-based compensation expense related to the RSU Net Settlement |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro forma adjustment to reclassify the fair value of the convertible preferred stock warrant liability |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro forma adjustment to reclassify the embedded derivative liability in connection with the Security Conversion |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pro forma net loss attributable to common stockholders | $ |
| **Denominator:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-average shares outstanding used in computing net loss per share attributable to common stockholders, basic and diluted |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro forma adjustment to reflect the Capital Stock Conversion |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro forma adjustment to reflect the Security Conversion |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro forma adjustment to reflect the RSU Net Settlement |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro forma adjustment to reflect the Warrant Exercises |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted-average shares outstanding used in computing pro forma net loss per share attributable to common stockholders, basic and diluted |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pro forma net loss per share, basic and diluted | $ |

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| | | | |
|:---|:---|:---|:---|
| | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|<br>**(in thousands)** | **Actual** | **Pro forma**<sup>(1)</sup> | **Pro forma as adjusted**<sup>(2)(3)</sup> |
| **Consolidated balance sheet data:** | | | |
| Cash and cash equivalents | $48047 | $ | $ |
| Total current assets | 136411 |  |  |
| Total assets | 450325 |  |  |
| Deferred revenue, current | 134552 |  |  |
| Total current liabilities | 233006 |  |  |
| Deferred revenue, net of current portion | 107603 |  |  |
| Convertible notes | 130470 |  |  |
| Long-term debt, net | 244055 |  |  |
| Total liabilities | 737643 |  |  |
| Convertible preferred stock | 428135 |  |  |
| Additional paid-in capital | 48770 |  |  |
| Accumulated deficit | (764233) |  |  |
| Total stockholders' (deficit) equity | $(715453) | $ | $ |

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(1)The pro forma column above reflects (i) the Capital Stock Conversion, (ii) the Security Conversion, including the reclassification of the embedded derivative liability related to the Convertible Securities to additional paid-in capital, (iii) an increase to additional paid-in capital and accumulated deficit related to stock-based compensation of $&nbsp;&nbsp;&nbsp;&nbsp; million associated with the RSU Net Settlement, (iv) the Warrant Exercises, as if such exercises had occurred on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, (v) the net issuance of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock in connection with the RSU Net Settlement, after withholding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares to satisfy our associated estimated tax withholding and remittance obligations of $&nbsp;&nbsp;&nbsp;&nbsp; million (based upon the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and an assumed &nbsp;&nbsp;&nbsp;&nbsp; % tax withholding rate), and (vi) the filing and effectiveness of our restated certificate of incorporation that will become effective immediately prior to the closing of this offering. To the extent that our actual tax withholding and remittance obligations related to the RSU Net Settlement exceed the estimates set forth herein, we intend to use cash on hand to satisfy any such excess tax withholding and remittance obligations.

(2)The pro forma as adjusted column above gives effect to (i) the pro forma adjustments set forth in footnote (1) above, (ii) the sale and issuance of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock in this offering at the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and after deducting underwriting discounts and commissions and estimated offering expenses, and (iii) the application of the net proceeds therefrom as described in the section titled "Use of proceeds."

(3)Each $1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase (decrease) the amount of our pro forma as adjusted cash and cash equivalents, working capital, total assets, additional paid-in capital, and total stockholders' (deficit) equity by $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the number of shares of our Class A common stock offered, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. Similarly, an increase (decrease) of 1.0 million shares in the number of shares of our Class A common stock offered would increase (decrease) the amount of our pro forma as adjusted cash and cash equivalents, working capital, total assets, additional paid-in capital, and total stockholders' (deficit) equity by $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. In addition, each 1.0% increase (decrease) in our estimated tax withholding rate would increase (decrease) the amount of our estimated tax withholding and remittance obligations related to the RSU Net Settlement and decrease (increase) cash and cash equivalents, working capital, total assets, additional paid-in capital, and total stockholders' (deficit) equity by $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, remains the same, that the number of shares of our Class A common stock offered, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. Each $1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase (decrease) the amount of our estimated tax withholding and remittance obligations related to the RSU Net Settlement and decrease (increase) cash and cash equivalents, working capital, total assets, additional paid-in capital, and total stockholders' (deficit) equity by $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the tax withholding rate remains the same, that the number of shares of our Class A common stock offered, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. Pro forma adjustments in the footnotes above and the related information in the balance sheet data are illustrative only and may differ from actual amounts based on, among other things, the actual initial public offering price per share and other terms of this offering determined at pricing, the actual tax withholding rates, and the actual amount of RSUs settled upon the effectiveness of the registration statement of which this prospectus forms a part.

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**Key business metrics and non-GAAP financial measures**

We review a number of operating and financial metrics, including the following key business metrics and non-U.S. Generally Accepted Accounting Principles ("GAAP") financial measures, to evaluate and manage our business, measure our performance, identify trends affecting our business, formulate business plans, and make strategic decisions. See the section titled "Management's discussion and analysis of financial condition and results of operations—Key business metrics" and "Management's discussion and analysis of financial condition and results of operations—Non-GAAP financial measures" for additional information and reconciliations of our non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with GAAP.

***Key business metrics***

The following table summarizes our key business metrics for the periods indicated:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(dollars in millions)** | **2023** | **2024** |
| Annualized recurring run rate ("ARR") | $338 | $417 |
| Large Customers | 235 | 351 |

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***Non-GAAP financial measures***

The following table summarizes our non-GAAP financial measures (along with the most directly comparable GAAP measures) for the periods indicated:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |
| Loss from operations | $(89202) | $(111907) |
| Non-GAAP loss from operations | $(75016) | $(82083) |
| Operating loss margin | (29)% | (30)% |
| Non-GAAP operating margin | (24)% | (22)% |
| Net cash flows used in operating activities | $(107172) | $(75807) |
| Adjusted unlevered free cash flow | $(86860) | $(46692) |
| Net cash flows used in operating activities as a percentage of revenue | (35)% | (20)% |
| Adjusted unlevered free cash flow margin | (28)% | (13)% |

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**Risk factors**

*Investing in our Class A common stock involves a high degree of risk. You should carefully consider the risks and uncertainties described below, together with all of the other information in this prospectus, including the section titled "Management's discussion and analysis of financial condition and results of operations" and our consolidated financial statements and the accompanying notes included elsewhere in this prospectus before deciding whether to invest in shares of our Class A common stock. Our business, operating results, or financial condition could also be adversely affected by risks and uncertainties that are not presently known to us or that we currently believe are not material. If any of the risks actually occur, our business, operating results, and financial condition could be adversely affected. In that event, the market price of our Class A common stock could decline, and you could lose all or part of your investment.*

**Risks related to our business and industry** 

***We have experienced rapid growth which may not be indicative of our future growth, and if we do not effectively manage our future growth, our business, operating results, and financial condition may be adversely affected. Our rapid growth also makes it difficult to evaluate future prospects.***

We have experienced rapid growth and we expect to continue to invest broadly across our organization to support our growth. Our revenue was $310.3 million and $370.5 million in 2023 and 2024, respectively. The number of our employees has grown from 1,009 as of December 31, 2018 to 3,559 as of December 31, 2024. Although we have experienced rapid growth historically, we may not sustain our current growth rates, and we cannot assure you that our investments to support our growth will be successful. Even if our revenue continues to increase, we expect our revenue growth rate to decline in the future as our business matures and our platform achieves more widespread adoption. Accordingly, our historical growth makes it difficult to evaluate our business and future prospects and you should not rely on the revenue growth of any prior quarterly or annual period as an indication of our future performance. Overall growth of our revenue will depend on a number of factors, including, but not limited to, our ability to:

• compete with other companies in our industry, including, but not limited to, those with greater financial, technical, marketing, sales, and other resources, as well as with startup companies with innovative products and novel solutions that compete with ours and any of our manufacturers who may begin offering a platform, products, or services similar to our offerings;

• retain and increase adoption of and expansion within our platform by existing customers, as well as attract new customers and grow our customer base;

• develop new offerings and functionality for our platform and successfully optimize our existing products and services, including through the continued integration of AI into our platform;

• successfully expand our business domestically and internationally;

• effectively expand our sales force and leverage our existing sales capacity;

• successfully hire and retain personnel, including product, engineering, and sales personnel;

• successfully introduce and sell our platform in new markets and for new use cases;

• increase awareness of our brand;

• protect against security incidents;

• successfully price and package our platform in a rapidly changing industry, including due to advancements and increasing use of AI, automation, and other technologies, such as driverless vehicles; and

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• successfully identify and acquire or invest in businesses, products, offerings, or technologies that we believe could complement or expand our platform and successfully integrate such businesses, products, offerings, or technologies into our business.

We may not successfully accomplish any of these objectives, and, as a result, it may be difficult for us to accurately forecast our future operating results. If the assumptions that we use to plan our business are incorrect or change in reaction to fluctuations in our markets, we may be unable to maintain consistent revenue or revenue growth, the value of our stock could be volatile, and it may be difficult to achieve and maintain profitability. In addition, changes in the global macroeconomic environment, including, but not limited to, changes in tariffs or trade restrictions, volatile interest rates and inflation, actual or perceived global banking and finance related issues, labor shortages, high unemployment rates, labor displacement, supply chain disruptions, changes in spending environments, geopolitical instability, warfare, and uncertainty, including, but not limited to, the effects of geopolitical conflicts, weak economic conditions in certain regions, or a reduction in information technology spending regardless of macroeconomic conditions, may impact our growth.

As we have grown, our number of customers has also increased, and we have increasingly managed more complex deployments of our platform. The rapid growth and expansion of our business places a significant strain on our management, operational, engineering, and financial resources, and rapid development cycles may create technical debt within our platform. Addressing technical debt requires engineering resources that could otherwise be devoted to new features or enhancements. If we fail to properly manage technical debt, our platform performance may suffer and our business, operating results, and financial condition could be harmed. Additionally, as we continue to integrate AI capabilities and expand our product and service offerings, technical complexity may increase, potentially exacerbating these challenges. To manage any future growth effectively, we must continue to improve and expand our infrastructure, including information technology and financial infrastructure, our operating and administrative systems and controls, and our ability to manage headcount, capital, and processes in an efficient manner. If we do not manage future growth effectively, our business, operating results, and financial condition would be adversely impacted.

If we continue to experience rapid growth, we may not be able to successfully implement or scale improvements to our systems, processes, or controls in an efficient, timely, or cost-effective manner. As we grow, our existing systems, processes, and controls may not prevent or detect all errors, omissions, or fraud. Such incidents may increase as we grow. Any future growth will continue to add complexity to our organization and require effective coordination throughout our organization. Failure to manage any future growth effectively could result in increased costs, cause difficulty or delays in deploying our platform to new and existing customers, reduce the quality of our platform, customer satisfaction, and demand for our platform, cause difficulties in introducing new offerings, or cause other operational challenges. Any of these difficulties would adversely affect our business, operating results, and financial condition.

***We have a history of losses, anticipate increasing our operating expenses in the future, and may not achieve or sustain profitability. If we cannot achieve and sustain profitability, our business, operating results, and financial condition will be adversely affected.***

We have incurred net losses in each fiscal year since inception, and we may not achieve or sustain profitability in the future. In 2023 and 2024, we incurred net losses of $108.8 million and $153.0 million, respectively. As of December 31, 2024, we had an accumulated deficit of $764.2 million. We expect to make significant future expenditures to develop and expand our business, including to acquire new customers, expand relationships with existing customers, expand internationally, invest in product innovation, and incur legal, tax, accounting, and other administrative and compliance expenses to operate as a public company. These efforts may prove more expensive than we currently anticipate, and we may not succeed in increasing our revenue sufficiently, or at all, to offset these higher expenses. While our revenue has grown in recent years, if our revenue declines or fails to grow at a rate faster than these increases in our operating expenses, we may not be able to achieve or sustain profitability in future periods. As a result, we may continue to generate losses. We cannot assure you that we will achieve

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profitability in the future or that, if we do become profitable, we will be able to sustain profitability in any given period, or at all.

***If we are unable to attract new customers or retain and increase adoption of our products and services by existing customers, we may not achieve the growth we expect, which would adversely affect our business, operating results, and financial condition.***

Our ability to grow our business and revenue depends on attracting new customers and ensuring our existing customers renew and expand their use of our platform. Our standard subscription agreements have an initial term of twelve months or longer and are structured to automatically renew for additional periods. Customers under these standard agreements can prevent renewal by providing timely, formal notice as specified in their contracts. However, some of our agreements, particularly with certain larger customers, do not include automatic renewal provisions and require an affirmative customer election to renew or otherwise provide the customer a right to terminate the agreement during the term (albeit without a refund).

Whether a contract renews automatically or requires an affirmative choice, our customers have no obligation to continue their subscriptions after their current term expires. When customers do renew, the terms are subject to renegotiation, and the number of devices, contract length, and pricing may change. Our agreements generally permit us to adjust fees upon renewal, in some cases subject to a contractual cap, such as a maximum 5% increase. Our customer retention may decline or fluctuate as a result of various factors, including, but not limited to, their satisfaction with our platform and those offered by competitors, security incidents involving our platform, our pricing and packaging models, and the effects of general economic conditions.

As we increasingly sell to larger organizations, such organizations may have more extensive internal approval requirements that prevent or delay the sale or implementation of our platform, which may result in slower growth rates and could cause the costs associated with new customer acquisition to increase in future periods.

In recent years, we have released a number of new products and feature enhancements intended to address a broader set of use cases, and we expect to continue to release additional products and feature enhancements to our platform. Our future success may depend in part on the success of these new products and features and our ability to demonstrate the value of them to a wider set of users, both within current customers and prospective customers. If we are unable to successfully market new products and features to a wider set of customers, we may not achieve the return on our initial investments or long-term growth expected by analysts or investors, and our business may be adversely affected as a result.

As the markets for our products and services mature, our platform evolves, and competitors introduce lower cost and/or differentiated products and services that are perceived to compete with our platform, our ability to maintain or expand usage of our platform could be impaired. The cost of new customer acquisition and ongoing customer support may prove higher than anticipated, thereby adversely impacting our profitability.

Other factors, many of which are out of our control, may now or in the future impact our ability to attract new customers, retain existing customers, and expand usage of our platform by such customers in a cost-effective manner, including, but not limited to:

• potential customers' commitments to existing platforms, products, or services or greater familiarity or comfort with other platforms, products, or services, including those in which they have made significant investments to integrate into their businesses;

• actual or perceived costs by our customers to switch from existing platforms, products, or services to our platform;

• our ability to expand, retain, effectively train, and motivate our sales and marketing personnel;

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• our ability to successfully expand into new markets;

• negative media, industry, or analyst commentary regarding our platform, products, and services;

• decreased spending on fleet operations and other products and services that we offer;

• resistance to our products and services from trade unions whose members may be employed by our customers;

• our ability to help potential customers successfully deploy and use our platform;

• the impact of AI on the markets for our platform, products, and services; and

• general macroeconomic and geopolitical conditions.

***If we are not able to effectively introduce enhancements to our platform, including new offerings, features, and functionality, that achieve widespread market adoption, or keep pace with technological developments, our business, operating results, and financial condition could be adversely affected.***

The markets for our products and services are characterized by rapidly changing technologies, frequent new product and service releases, and evolving industry standards. The rapid growth and intense competition in our industry exacerbate these market characteristics. Our ability to attract new customers and increase revenue from existing customers depends in large part on our ability to enhance and improve our platform and introduce compelling new products and services that reflect the changing nature of our markets. Further, we will need to adapt to rapidly changing technologies by continually improving the performance, features, and reliability of our platform, products, and services, and by selling in new markets and for new use cases. The success of any enhancement to our platform depends on several factors, including, but not limited to, timely completion and delivery, competitive pricing, adequate quality testing, integration with existing technologies and our platform, and overall market adoption. We may experience difficulties that could delay or prevent the successful development, introduction, or marketing of platform updates or new offerings, features, and functionality. Any new product or service that we develop may not be introduced in a timely or cost-effective manner, may contain bugs, or may not achieve the market adoption necessary to generate significant revenue. If we are unable to successfully develop new products, enhance our existing products to meet customer requirements, or otherwise achieve market adoption, our business, operating results, and financial condition would be harmed.

We have made significant investments to develop, launch, and enhance new products and services and expand the use cases for our platform. We intend to continue investing significant resources to develop and launch new products, services, features, and functionality, including enhancements to our platform's accessibility. If we do not allocate these resources efficiently, effectively, or in an otherwise commercially successful manner, we may not realize the expected benefits of our strategy. There can be no assurance that customer demand for such initiatives will exist or be sustained at the levels that we anticipate, or that any of these initiatives will gain sufficient traction or market adoption to generate sufficient revenue to offset any new expenses or liabilities associated with these new investments. It is also possible that products and services developed by others, including, but not limited to, new technologies integrating AI, will render our platform, products and services uncompetitive or obsolete. Further, our development efforts with respect to new technologies, offerings, features, and functionality could distract management from current operations, and would divert capital and other resources from our more established offerings. If we do not realize the expected benefits of our investments, our business, operating results, and financial condition could be adversely affected.

***Our significant investment in AI initiatives and use of AI to power our platform exposes us to risk, which could adversely affect our reputation, business, operating results, and financial condition.***

We are making significant investments in AI initiatives to, among other things, enhance our existing products and services, develop new products and services, and develop new features for existing

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products and services. For our AI initiatives to succeed, we require increased investment in infrastructure and headcount. If our longer-term AI investments do not succeed, our business, operating results, and financial condition could be harmed.

There are significant risks involved in developing and deploying AI, including generative AI, and there can be no assurance that our existing use of AI and the further integration of AI into our platform will enhance our platform or be beneficial to our business, including our efficiency or profitability. For example, our AI-related efforts subject us to risks related to inaccuracy, bias, discrimination, consumer protection, intellectual property infringement or misappropriation, defamation, data privacy, cybersecurity, and sanctions and export controls, among others. In addition, we are subject to the risks of new or enhanced governmental or regulatory scrutiny, litigation, or other legal liability, ethical concerns, negative perceptions as to automation and AI, or other complications that could adversely affect our reputation, business, operating results, and financial condition.

As a result of the complexity and rapid development of AI, it is also the subject of evolving review by various governmental and regulatory agencies in jurisdictions around the world, which are applying, or are considering applying, platform moderation, intellectual property, cybersecurity, export controls, and data protection laws to AI and/or are considering general legal frameworks or restrictions on AI (such as the E.U. Artificial Intelligence Act or the Colorado AI Act). We may not always be able to anticipate how courts and regulators will apply existing laws to AI, predict how new legal frameworks will develop to address AI, or otherwise respond to these frameworks as they are still rapidly evolving. We may also have to expend resources to adapt to new legal frameworks, and adjust our platform in certain jurisdictions if the legal frameworks on AI are not consistent across jurisdictions.

Further, we face significant competition from other companies in our industry that are developing their own AI features and technologies, including competition from AI features and technologies that may be similar or superior to ours or more cost-effective to develop and deploy. Our inability to successfully employ AI, or the ability of our competitors to do so more successfully, may negatively impact our gross margins, impair our ability to compete effectively, result in reputational harm, and have an adverse impact on our business, operating results, and financial condition. Further, our ability to continue to develop and effectively deploy AI in our platform is dependent on access to specific third-party equipment and other technical and physical infrastructure, such as processing hardware, network capacity, computing power, and related energy requirements, as to which we cannot control the availability or pricing, especially in a highly competitive environment.

It is not possible to predict all of the risks related to the use of AI and changes in laws, rules, directives, and regulations or other regulatory developments regarding the use of AI, including restrictions around the collection and use of data, may adversely affect our ability to develop and use AI or subject us to legal liability. Any of the foregoing could adversely affect our reputation, business, operating results, and financial condition.

***Our operating results may fluctuate significantly, which could make our future results difficult to predict and could cause our operating results to fall below expectations.***

Our operating results have varied significantly from period to period in the past, and we expect that our operating results will continue to vary significantly in the future such that period-to-period comparisons of our operating results may not be meaningful. Accordingly, our financial results in any one quarter should not be relied upon as indicative of future performance. To the extent that fluctuations in our quarterly results lead us to underperform relative to market expectations, such fluctuations may negatively impact the trading price of our Class A common stock. Our quarterly financial results may fluctuate as a result of a number of factors, many of which are outside of our control and may be difficult to predict, including, but not limited to:

• the amount and timing of investments and expenditures related to the expansion of our business;

• the impact of AI on the demand for our platform, products, and services;

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• general macroeconomic and political conditions, both domestically and in foreign markets where we operate, including, but not limited to, changes in U.S. federal spending, changes in tariffs or trade restrictions, changes in fuel prices, global economic slowdowns, actual or perceived global banking and finance related issues, increased risk of inflation, interest rate volatility, supply chain disruptions, labor shortages, and potential global recession;

• the impact of natural or man-made global events on our business, including, but not limited to, wars and other geopolitical conflicts;

• market acceptance of any changes to our, or our competitors' pricing, packaging, and billing models;

• our ability to attract new customers and retain and increase adoption of our products and services by existing customers;

• changes in customer requirements or market needs;

• the budgeting cycles, seasonal buying patterns, and purchasing practices of our customers and potential customers;

• the timing and length of our sales cycles;

• the timing of revenue recognition;

• the timing and success of new product and service releases by us or our competitors or any other competitive developments, including consolidation among our customers or competitors;

• our ability to successfully expand our business domestically and internationally;

• decisions by organizations to purchase competitive products and services from other vendors;

• insolvency, credit difficulties, or other financial issues affecting our customers or potential customers, which affects their ability to purchase or pay for our platform, products, and services;

• significant security breaches of, technical difficulties with, or interruptions to, the use of our platform or other cybersecurity incidents;

• extraordinary expenses such as litigation or other dispute-related settlement payments or injunctive relief, taxes, regulatory fines, or penalties;

• our ability to comply with regulatory requirements to certify our product for sale in the United States and Canada, and import and export requirements globally;

• changes in the market value of our investments, including in our marketable securities;

• significant charges in our financial statements relating to any impairment of operating lease right-of-use assets;

• changes to our effective tax rate;

• future accounting pronouncements or changes in our accounting policies or practices;

• negative media and social media coverage or publicity; and

• increases or decreases in our expenses caused by fluctuations in foreign currency exchange rates.

Any of the above discussed fluctuations could result in our failure to meet our operating plan or the expectations of investors or analysts for any period. If we fail to meet such expectations for the reasons described above or other reasons, our stock price could fall substantially, and we could face costly lawsuits, including securities class action lawsuits.

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***Our sales cycles can be long and unpredictable, and our sales efforts require considerable time and expense.***

Our revenue recognition is difficult to predict because of the length and unpredictability of the sales cycle for our platform, particularly with respect to large enterprises and government entities. Customers often view the subscription to our platform as a significant strategic decision and, as a result, frequently require considerable time to evaluate, test, and qualify our platform prior to entering into or expanding a relationship with us. Large enterprises and government entities in particular often undertake a significant evaluation process that further lengthens our sales cycle and may already have contracts in place with our competitors, which may take additional time to displace, to the extent we are able to do so at all.

Our direct sales team develops relationships with our customers. We spend substantial time and resources on our sales efforts without any assurance that our efforts will produce a sale. Purchases of products and services like ours are frequently subject to budget constraints, multiple approvals, and unanticipated administrative, processing, and other delays. As a result, it is difficult to predict whether and when a sale will be completed. The failure of our efforts to secure sales after investing resources in a lengthy sales process would adversely affect our business, operating results, and financial condition.

***We face intense competition and could lose market share to our competitors, which would adversely affect our business, operating results, and financial condition.***

The market for fleet management solutions and platforms that connect workers, vehicles, equipment, and spend is intensely competitive, fragmented, and is rapidly evolving, characterized by changes in technology, including the continued integration of AI, customer requirements, industry standards, and frequent introductions of new or improved products and services. We expect to continue to face intense competition from current competitors, including as a result of strategic acquisitions and partnerships, increased use of AI, or evolving customer requirements and industry standards. If we are unable to anticipate or react to these challenges, our competitive position could weaken, and we would experience a decline in revenue or reduced revenue growth, and loss of market share that would adversely affect our business, operating results, and financial condition. For a description of our competitors, see the section titled "Business—Competition."

Our ability to compete effectively depends upon numerous factors, many of which are beyond our control, including, but not limited to:

• our ability to attract new customers and retain existing customers, expand our platform, or sell additional products and services to our existing customers;

• our ability to attract, train, retain, and motivate talented employees;

• the success of our sales and marketing team, which may be smaller and have fewer resources than those of our competitors;

• our ability to successfully incorporate new technologies into our platform, including the continued incorporation of AI;

• the budgeting cycles, seasonal buying patterns, and purchasing practices of our customers, including any slowdown in technology spending due to U.S. and general global macroeconomic conditions;

• general global macroeconomic and political conditions, both domestically and in our foreign markets, that could impact some or all regions where we operate, including the changes in U.S. federal spending, changes in tariffs and trade restrictions, global economic slowdowns, actual or perceived global banking and finance related issues, increased risk of inflation, interest rate volatility, supply chain disruptions, labor shortages, and potential global recession;

• the impact of natural or man-made global events on our business, including regional geopolitical conflicts around the world;

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• changes in customer, distributor, or reseller requirements or market needs;

• price competition;

• the timing and success of new product and service introductions by us or our competitors or any other change in the competitive landscape of our industry, including consolidation among our competitors or customers and strategic partnerships entered into by and between our competitors;

• changes in our mix of products and services sold, including changes in the average contract length for subscriptions and support;

• our ability to successfully and continuously expand our business domestically and internationally;

• changes in the growth rate of our market;

• deferral of orders from customers in anticipation of new or enhanced products and services announced by us or our competitors;

• significant security breaches of, technical difficulties with, or interruptions to the use of our platform;

• the timing and costs related to the development or acquisition of technologies, businesses, or strategic partnerships;

• our ability to execute, complete, or efficiently integrate any acquisitions that we may undertake;

• increased expenses, unforeseen liabilities, or write-downs and any impact on our operating results from any acquisitions we consummate;

• our ability to increase the size and productivity of our distribution channels;

• decisions by potential customers to purchase fleet management solutions from larger, more established vendors;

• timing of revenue recognition and revenue deferrals;

• insolvency or credit difficulties confronting our customers, including our Motive cardholders, which could increase due to U.S. and global macroeconomic issues, including tariffs, actual or perceived global banking and finance related issues, inflation, interest rate volatility, and market downturns, which would adversely affect their ability to purchase or pay for our platform, products, and services in a timely manner or at all;

• the perception of our brand in third-party rankings, as a result of benchmarking studies or other marketing efforts by our competitors;

• the cost and potential outcomes of litigation or other proceedings, which could have a material adverse effect on our business;

• future accounting pronouncements or changes in our accounting policies; and

• increases or decreases in our expenses caused by fluctuations in foreign currency exchange rates.

Many of our competitors have greater financial, technical, marketing, sales, and other resources, greater name recognition, longer operating histories, and a larger base of customers than we do. Our competitors may be able to devote greater resources to the development, promotion, and sale of their products and services than we can, and they may offer lower pricing than we do or bundle certain competing products and services at lower prices. Our competitors may also have greater resources for research and development of new technologies, customer support, and to pursue acquisitions, or they may have other financial, technical, or other resource advantages. Our competitors may also have substantially broader and more diverse product and service offerings and more mature distribution.

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***We operate a global business that exposes us to risks associated with conducting business in multiple jurisdictions.***

We sell our platform in North America and the United Kingdom and have offices in these locations, as well as Pakistan, India, and Taiwan. A majority of our employees are located in the United States and Pakistan. Our ability to manage our business and conduct our operations globally requires considerable management attention and resources, including financial resources, and is subject to the challenges of supporting a rapidly growing business across multiple cultures, customs, legal, regulatory and compliance systems, and commercial infrastructures. Our future operating results and financial condition could be significantly affected by risks associated with conducting business in multiple jurisdictions, including, but not limited to, the following:

• difficulties in staffing and managing international operations due to differing employment laws, regulations, and practices, and differing expectations about ethical conduct and corruption;

• political instability, terrorism, and potential or actual military conflicts or civil unrest;

• economic instability in a specific country or region;

• managing compliance with legal and regulatory requirements and prohibitions that are increasingly complex, including compliance with local laws and regulations that differ or are conflicting among jurisdictions;

• complex and changing tax laws and regulations in various jurisdictions;

• potential restrictions on our ability to repatriate funds from our foreign subsidiaries;

• trade protection laws, policies, and measures;

• tariffs, import and export duties, customs levies, and value-added taxes;

• compliance with foreign and domestic import and export controls, economic sanctions, and anti-money laundering and anti-corruption laws and regulations, including various economic sanctions administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") and the U.S. Department of Commerce, the U.S. Foreign Corrupt Practices Act of 1977, as amended (the "FCPA"), and similar laws and regulations of other jurisdictions for our business activities outside the United States, the violation of which could result in severe penalties including monetary fines, criminal proceedings, and suspension of import or export privileges;

• laws and regulations regarding consumer and data protection, privacy, AI, network security, encryption, and payments;

• anti-competition regulations and compliance requirements, including any new antitrust legislation that may be passed in the United States;

• environmental laws and regulations, such as those relating to climate change and waste disposal; and

• earthquakes, power shortages, telecommunications failures, water shortages, tsunamis, floods, hurricanes, typhoons, fires, extreme weather conditions, medical epidemics or pandemics, and other natural or man-made disasters or business interruptions in a region or specific country.

The potential criminal penalties for violations of import/export controls, economic sanctions, anti-corruption, and anti-competition laws, particularly the FCPA and similar statutes outside the United States, data privacy and protection laws, and environmental laws and regulations in many non-U.S. jurisdictions create heightened risks for our international operations. In the event that a governing regulatory body determined that we have violated any laws, including applicable import/export controls, economic sanctions, or anti-corruption laws, we could be fined significant sums, incur sizable legal defense costs,

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be subject to debarment, and/or our import/export capabilities could be restricted, which could have a material and adverse effect on our business and reputation.

Additionally, unethical or fraudulent activities perpetrated by our service providers, associates, third-party suppliers and partners, and strategic partners have exposed us in the past and in the future could continue to expose us to fraud, misappropriation, liability, and reputational damage. Such fraud, misappropriation, liability, and/or damage to our reputation for these or any other reasons could have a material adverse effect on our business, results of operations, and financial condition, particularly when accompanied by a breakdown in our internal controls, accounting processes, or governance oversight, and could require additional resources to rebuild our reputation. Further, failure to comply with applicable laws and regulations and failure to maintain an effective system of internal controls may subject us to fines or sanctions and incurrence of substantial legal fees and costs. While we have established policies, procedures, and internal controls designed to ensure accurate financial reporting and compliance with accounting standards, these controls may be circumvented, overridden, or rendered ineffective due to fraud, human error, or inadequate oversight. Our operating expenses could increase due to implementation of and compliance with existing and future laws and regulations or remediation measures that may be required if we are found to be noncompliant with any existing or future laws or regulations.

Further, regional instability caused by geopolitical conflicts, including but not limited to the conflicts in the Middle East, between India and Pakistan, and between Russia and Ukraine, and the tensions between China and Taiwan, could lead to disruption and volatility that could adversely impact our employees and how we operate our business.

Additionally, we have been and expect to continue to be subject to new and increasingly complex U.S. and non-U.S. government regulations that affect our operations in the United States and globally. Complying with such regulations may be time-consuming and costly, and compliance could result in the delay or loss of business opportunities. While we have implemented, and will continue to implement and maintain, measures designed to promote compliance with these laws, we cannot assure investors that such measures will be adequate or that our business will not be materially and adversely impacted in the event of an alleged violation.

We are also exposed to market risks related to foreign currency and interest rate fluctuations, particularly changes in the value of the U.S. dollar against local currencies, which can significantly impact our financial results. Currency variations, often driven by inflation, may affect sales, margins, profitability, and may positively or negatively impact our financial statements, which are reported in U.S. dollars. While we use a variety of financial instruments to manage these risks and monitor counterparty creditworthiness, our hedging activities may not fully mitigate the financial impact of adverse currency fluctuations.

Further, our long-term success depends, in part, on our ability to increase sales of our platform to customers located outside of the United States and our current, and any further, expansion of our international operations further exposes us to the risks described above, which could have an adverse effect on our business, operating results, and financial condition. As we expand into new markets, these risks will be intensified and will have the potential to impact a greater percentage of our operations. While our ability to expand our international operations into new jurisdictions or further into existing jurisdictions will depend on limitations by federal, state, and local statutes, rules, regulations, policies and procedures, such expansions (depending on locality) will also depend in part, on our ability to identify potential acquisition candidates, joint venture or other partners, and enter into arrangements with these parties on favorable terms, as well as our ability to make continued investments to maintain and grow existing international operations. If the revenue generated by international operations is insufficient to offset expenses incurred in connection with the maintenance and growth of these operations, our business, operating results, and financial condition would be adversely affected. In addition, in an effort to make international operations in one or more given jurisdictions profitable over the long term, significant additional investments that are not profitable over the short term could be required over a prolonged period.

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***Because we depend on several third-party manufacturers to build our devices, we are susceptible to manufacturing delays that could prevent us from shipping customer orders on time, if at all, and may result in the loss of sales and customers. Additionally, third-party manufacturing cost increases and changes in the geopolitical environment could result in lower gross margins.***

We outsource the manufacturing of our devices to contract manufacturing partners and original design manufacturing partners. Our reliance on our third-party manufacturers reduces our control over the manufacturing process, exposing us to risks, including reduced control over quality assurance, costs, supply, and timing, as well as possible tariffs, which have in the past increased, and may in the future increase, our costs of doing business, and reduce our cash reserves. Any manufacturing disruption related to our third-party manufacturers or their component suppliers for any reason, including global chip shortages, natural disasters and health emergencies, such as earthquakes, fires, power outages, typhoons, floods, health pandemics, and epidemics, and manmade events such as civil unrest, labor disruption, cyber events, international trade disputes, tariffs, international conflicts, terrorism, wars or other foreign conflicts, such as the war in Ukraine, the conflict in the Middle East, or tensions between China and Taiwan, and critical infrastructure attacks, could impair our ability to fulfill orders. If we are unable to manage our relationships with these third-party manufacturers effectively, or if these third-party manufacturers experience delays, increased manufacturing lead-times, disruptions, capacity constraints or quality control problems in their manufacturing operations, or fail to meet our future requirements for timely delivery, our ability to ship devices to our customers could be impaired and our business would be seriously harmed. Further, certain components for our devices come from Taiwan. Any increase in tensions between China and Taiwan, including threats of military actions or escalation of military activities, could adversely affect our manufacturing operations in Taiwan, which would have significant impacts on our business and operations.

These manufacturers fulfill our supply requirements on the basis of individual purchase orders. We have no long-term contracts or arrangements with our third-party manufacturers that guarantee capacity, the continuation of particular payment terms, or the extension of credit limits. Accordingly, they are not obligated to continue to fulfill our supply requirements, and the prices we are charged for manufacturing services could be increased on short notice. If we are required to change third-party manufacturers, our ability to meet our scheduled product deliveries to our customers would be adversely affected, which could cause the loss of sales and existing or potential customers, delayed revenue, or an increase in our costs, which could adversely affect our gross margins. Any production or shipping interruptions for any reason, such as a natural disaster, epidemics, pandemics, capacity shortages, quality problems, or strike or other labor disruption at one of our manufacturing partners or locations or at shipping ports or locations, would severely affect sales of our product lines reliant on devices manufactured by that manufacturing partner. Furthermore, manufacturing cost increases for any reason could result in lower gross margins.

In addition, some of our manufacturers, suppliers, and logistics providers may have more established relationships with larger-volume device manufacturers, and as a result of such relationships, such suppliers may choose to limit or terminate their relationship with us. Developing suitable alternate sources of supply for these devices and components may be time-consuming, difficult, and costly, and we may not be able to source these devices and components on terms that are favorable to us, or at all, which may adversely affect our ability to meet our requirements or provide our customers with our devices in a timely or cost-effective manner. Because our customers often must install our devices before being able to fully utilize our platform, any interruption or delay in the supply of any of these devices or components, or the inability to obtain these devices or components from alternate sources at acceptable prices and within a reasonable amount of time, would harm our ability to onboard new customers.

Evolving trade policies, including the imposition of tariffs and other trade barriers by the United States and other countries, can have the effect of increasing production costs and creating disruptions and delays in supply chains. We expect that the occurrence of these developments in regions where we operate would likely increase the cost of our devices, disrupt supply chain logistics, and affect our ability to efficiently transport, store, and deliver our devices to customers, which could negatively impact our revenue growth

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and operating margins. Our efforts to optimize our supply chain and manufacturing practices in light of evolving trade policies, component, production, and transportation costs, and other factors can be expensive, time-consuming, and disruptive to our business, operating results, and financial condition and may not result in their intended consequences.

***Managing the supply of our devices is complex. Insufficient supply and inventory may result in lost sales opportunities or delayed revenue, while excess inventory may harm our business, operating results, and financial condition.*** 

Our third-party manufacturers and suppliers procure components for our devices based on our forecasts, and we generally do not hold significant inventory for extended periods of time. These forecasts are based on estimates of future demand for our platform, which can be adjusted based on historical trends and analysis and for overall market conditions, and we cannot guarantee the accuracy of our forecasts. In order to reduce manufacturing lead times and plan for adequate component supply, from time to time we may issue forecasts for components and products that are non-cancelable and non-returnable.

We rely on a limited number of suppliers for certain components of our devices. We generally purchase equipment or the components of equipment on a purchase order basis, and do not have long-term contracts guaranteeing supply. Our reliance on these suppliers exposes us to risks, including reduced control over production costs, constraints based on the then-current availability, terms, and pricing of these components.

Our inventory management systems and related supply chain visibility tools may be inadequate to enable us to accurately forecast and effectively manage supply of our devices. Supply management remains an increased area of focus as we balance the need to maintain supply levels that are sufficient to ensure competitive lead times against the risk of obsolescence because of rapidly changing technology and end-customer requirements. The technology industry has experienced component shortages, delivery delays, price increases, and service interruptions in the past, and we may experience shortages, delays, materially increased costs, or service interruptions in the future, including as a result of natural disasters, acts of war or international conflicts, epidemics or global pandemics, increased demand in the industry, or if our suppliers do not have sufficient rights to supply the components in all jurisdictions in which we may offer our platform, products, and services.

If we ultimately determine that we have excess and obsolete supply, we may have to record a reserve for excess material costs, or reduce our prices and write-down inventory, either of which in turn could result in lower margins. Alternatively, insufficient supply levels may lead to shortages that result in delayed revenue or loss of sales opportunities altogether as potential end customers are unable to access our platform and, as a result, turn to competitors' products that are readily available. Additionally, any increases in the time required to manufacture our devices or ship these devices could result in supply shortfalls. If we are unable to effectively manage our supply and inventory, our business, operating results, and financial condition could be adversely affected.

***Security and privacy breaches may adversely impact our business, operating results, and financial condition.***

Our platform and our third-party service providers host, process, store, and transmit our and our customers' proprietary and sensitive data, including personal data about customers, employees, business partners, and others, as well as trade secrets. We collect such information from individuals located both in the United States and abroad and may host, process, store, or transmit such information outside the country in which it was collected. While we and our third-party service providers have implemented security measures designed to protect the privacy and security of such data, these measures have failed in the past and could fail or be insufficient in the future, resulting in the unauthorized access or disclosure, modification, misuse, destruction, or loss of our or our customers' data or other sensitive information. We have experienced, and may in the future experience, security incidents; however, to date, these incidents have not had a material impact on our business, operating results, and financial condition. Any security breach, disruption, or other incident that might affect our platform, our source code and other proprietary

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information, our operational systems, physical facilities, or the systems of our third-party processors, or the perception that a breach has occurred, or other adverse impact to the availability, integrity, or confidentiality of such platform and systems, could result in litigation (including class actions), indemnity obligations, regulatory enforcement actions, investigations, compulsory audits, fines, penalties, mitigation, and remediation costs, disputes, reputational harm, diversion of management's attention, and other liabilities and damage to our business, operating results, and financial condition.

We face evolving cybersecurity risks that threaten the confidentiality, integrity, and availability of our or our customers' confidential or personal data and our and our third-party service providers' information technology systems, typically caused by human error, system misconfiguration, or from cyber-attacks, including distributed-denial-of-service attacks, reverse-engineering of AI algorithms, web scraping, ransomware attacks, business email compromises, computer malware, viruses, and social engineering (including phishing), malicious code embedded in open-source software, or misconfigurations, "bugs," or other vulnerabilities in commercial software that is integrated into our and our third-party service providers' information technology systems, products, or services, which are prevalent in our industry. These threats come from a variety of sources including nation-state sponsored espionage and hacking activities, corporate espionage, organized crime, sophisticated organizations, hacking groups and individuals, and insider threats. Our cybersecurity measures have been circumvented in the past and could be circumvented or fail in the future, leading to the compromise of our customers' data, trade secrets, or other sensitive information.

We also face increased cybersecurity risks due to employees accessing company resources using personal (i.e., "bring-your-own-device") or unmanaged devices on open networks that often lack enterprise-grade security controls. Future incidents, exposures, or breaches could compromise our information technology systems, which may result in sensitive information being accessed, publicly disclosed, lost, corrupted, or stolen, and if we have information stolen as a result, we cannot guarantee that the loss of such information will not be used in a manner harmful to us. All of these create additional opportunities for third parties to use or sell such information competitively against us and for cybercriminals to exploit vulnerabilities, enable unauthorized access, and use social engineering techniques to carry out a cyberattack. If our, our customers', or our partners' security measures are breached as a result of third-party action, human error, system misconfiguration, malfeasance, or otherwise, and, as a result, someone obtains unauthorized access to our platform including confidential or personal data of our customers, our reputation could be damaged, our business may suffer loss of current customers and future opportunities, and we could incur significant financial liability including fines, cost of recovery, and costs related to remediation measures.

Techniques used to obtain unauthorized access or to sabotage systems change frequently. As a result, we may be unable to fully anticipate these techniques or to implement adequate preventative measures. Further, state-supported and geopolitical-related cyberattacks may rise in connection with regional geopolitical conflicts which have increased the risk of cyberattacks on various types of infrastructure and operations. Threat actors are also beginning to utilize AI-based tools, including generative AI-based tools, to execute attacks, circumvent security controls, evade detection, and remove forensic evidence, creating unprecedented cybersecurity challenges. As a result, we may be unable to detect, investigate, remediate, or recover from future attacks or incidents, or to avoid a material adverse impact to our information technology systems, confidential or personal data, or business. Remote and hybrid working arrangements at our company (and at many of our third-party providers) also increase cybersecurity risk. For example, we face challenges associated with worker fraud, including through a stolen or forged identity to gain employment, managing remote computing assets, and security vulnerabilities that are present in many non-corporate and home networks. If an actual or perceived security breach or similar incident occurs, the market perception of our security measures could be harmed, and we could lose sales and customers. If we are, or are perceived to be, not in compliance with data protection, user privacy, or other legal or regulatory requirements or operational norms bearing on the collection, processing, storage, or other treatment of data records, including personal data, our reputation and operating performance may suffer. Any significant violations of data privacy could result in the loss of business, litigation, regulatory

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investigations and processes, and penalties that could damage our reputation and adversely impact our business, operating results, and financial condition.

We have certain contractual and legal obligations to notify customers and other stakeholders of security breaches. Most jurisdictions have enacted their own laws requiring companies to notify affected individuals, regulatory authorities, and relevant others of security breaches involving certain types of data, including personal data. The foregoing mandatory disclosures are costly, could lead to negative publicity, may cause our customers to lose confidence in the effectiveness of our security measures, and may require us to expend significant capital and other resources to respond to or alleviate problems caused by the actual or perceived security breach.

A security breach or similar incident could lead to claims by our customers or other relevant stakeholders that we have failed to comply with such legal or contractual obligations. As a result, we could be subject to legal action or our customers could end their relationships with us. There can be no assurance that any limitations of liability in our contracts would be enforceable or adequate or would otherwise protect us from liabilities or damages. While we maintain cybersecurity insurance, our insurance may be insufficient or may not cover all liabilities incurred by such attacks and insurance may not be available to us in the future on economically reasonable terms or at all.

Any adverse impact to the availability, integrity, or confidentiality of our data, systems, or physical facilities could result in disputes, claims, or litigation with our customers and impacted third parties, or investigations by government authorities. These proceedings could force us to incur significant expenditures in defense or settlement, divert management's time and attention, increase our costs of doing business, or adversely affect our reputation. If required to fundamentally change our business activities and practices or modify our platform, products, and services in response to such litigation, we would experience an adverse effect on our business. If a security breach were to occur, and the confidentiality, integrity, or availability of our data or the data of our customers and users was disrupted, we could incur significant liability, or our platform, products, and services may be perceived as less desirable, which could damage our reputation and negatively affect our business, operating results, and financial condition.

***If our platform cannot be used with our customers' existing vehicles, mobile devices, or third-party technology offerings, our business, operating results, and financial condition may be adversely affected.***

The functionality and popularity of our platform depends, in part, on our ability to ensure it works with our customers' existing vehicles, mobile devices, and third-party technology offerings. These technologies and the terms governing their use may change in a manner that makes our platform incompatible with our customers' needs and adversely impact our ability to serve them.

For example, changes in vehicle telematics could impact how effectively our hardware devices transmit vehicle data, changes in mobile application design could limit the effectiveness of our Driver App or Fleet App, and changes by third parties to their software could prevent us from offering effective integrations to our platform on our App Marketplace. These types of changes could negatively affect adoption of our platform and harm our business. If we fail to integrate our platform with our customers' technologies and with third-party technologies that our customers use, we may not be able to offer the functionality that our customers need, which could adversely impact our business, operating results, and financial condition. In addition, customers may require our platform to comply with certain security or other certifications and standards. If we are unable to achieve, or are delayed in achieving, compliance with these certifications and standards, we may be disqualified from selling our platform to such customers, or may otherwise be at a competitive disadvantage, either of which could adversely affect our business, operating results, and financial condition.

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***If our platform fails to perform properly, whether due to material defects with the hardware devices, platform software, or mobile applications, our reputation could be adversely affected, our market share could decline, and we could be subject to claims for returns, refunds, credits, damages, indemnity, or other forms of liability, including lawsuits.***

Our platform is inherently complex and includes hardware devices, platform software, and mobile applications. Any material interruptions in the availability of our software platform, or mobile applications, or material defects that cause our hardware devices to malfunction, could result in:

• loss of, or delayed, market adoption and sales;

• loss of or unintended disclosure of data;

• breach of warranty claims;

• sales returns, credits, or refunds;

• loss of customers, users, and potential customers;

• diversion of development and customer service resources;

• destruction or compromised integrity of data and/or intellectual property; and

• injury to our brand and reputation.

The costs incurred in correcting any material performance issues in our platform may be substantial and could adversely affect our operating results. For example, we regularly push firmware updates and enhancements to our hardware devices. In the event of an unknown latent "bug," or of an external compromise, such as a mass attack or breach of our security tokens, the hardware devices that receive these updates and enhancements may be compromised and unable to resume operations. If this were to happen, we would incur expense to resolve the issue for our customers, including to replace any malfunctioning hardware devices, which would adversely impact our reputation, business, operating results, and financial condition.

Moreover, our devices are subject to man-in-the-middle attacks, where a device or single group of devices may be compromised physically, when in customer hands or in transit. Given the nature of our business, we may be the target of state actors or hackers.

In addition, our products rely on data input by our customers for accuracy and continued operations. To the extent that data is inaccurate, due to user error or other manipulation or circumvention (for example, drivers using technology to evade monitoring), our platform will not perform as intended, which may result in harm to our reputation, business, operating results, and financial condition.

Further, we rely on our information technology systems, and those of other third parties, to process, transmit, and store electronic information. Our ability to effectively manage our business depends significantly on the reliability and capacity of these systems.

Our information technology systems, and those of the third parties on whom we rely, may be subject to damage or interruption from telecommunications problems, data corruption, data errors, software errors, fire, flood, acts of war, terrorism, armed conflicts, global pandemics, natural disasters, power outages, systems disruptions, system conversions, system updates, or human error. Our existing controls, safety systems, data backup, access protection, user management, and information technology emergency planning may not be sufficient to prevent data loss, long-term network outages, or other negative impacts to the usability of our platform. Our production systems may not be sufficiently resilient against regional outages and recovery from such an outage might take an extended period of time. While we have a data recovery plan, our data backup systems may fail and our data recovery plans may be insufficient to fully recover all of our or our customers' data hosted on our system. In addition, we may have to upgrade our existing information technology systems or choose to incorporate new information technology systems

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from time to time in order to support the requirements of our growing and increasingly complex business. Introduction of new technology, or upgrades and maintenance to our existing systems, could result in increased costs or unforeseen problems which may disrupt or reduce our operating efficacy.

We have in the past and may in the future encounter service interruptions, outages, or disruptions due to issues integrating with our customers' information technology systems, including, but not limited to, stack misconfigurations or improper environment scaling, defective updates or upgrades, our customers' inability to access the internet, the failure of our network or software systems, security breaches, variability in user traffic for our platform or due to cybersecurity attacks on our or our customers' information technology systems. For example, if our cloud hosting providers or the hosting provider of any of our third-party technology partners were to experience interruptions, delays, outages, or other service interruptions, including as a result of customer demand, that may impact our ability to provide service to our customers. We may be required to issue credits or refunds or otherwise be liable to our customers for damages they may incur resulting from certain of these events.

Our subscription agreements typically contain service-level commitments ("SLAs") regarding platform availability and support. If we fail to meet these commitments, we may be obligated to provide affected customers with service credits, which would reduce our revenue in the periods in which such credits are applied.

Under our current standard agreements, service credits are the exclusive contractual remedy for SLA failures. While these agreements provide a right of termination for a material breach of the agreement that is not cured within the applicable notice period, isolated or recurring SLA shortfalls do not, in and of themselves, give rise to a termination right. However, a limited number of our legacy customer agreements, which are not representative of our current contracting practices, may provide for additional remedies, including, in rare instances, a right of termination for significant SLA failures.

Regardless of the specific contractual remedies, any prolonged downtime or significant performance issues could result in increased costs, reduced renewals, customer attrition, and reputational harm, any of which could adversely affect our business, operating results, and financial condition. While we currently maintain errors and omissions insurance, it may be inadequate or may not be available in the future on acceptable terms, or at all. In addition, our policy may not cover all claims made against us and defending a suit, regardless of its merit, could be costly and divert management's attention.

***If we are not able to maintain and enhance our brand and reputation, our business, operating results, and financial condition may be adversely affected.***

We believe that maintaining and enhancing our brand and our reputation is critical to our relationship with existing customers and strategic partners and our ability to attract new customers and partners. The successful promotion of our brand depends on a number of factors, including our ability to develop additional features for our platform, our ability to successfully differentiate our platform from competitive products and services, our marketing efforts, and, ultimately, our ability to provide value to our customers. Although we believe it is important for our growth, our brand promotion activities may not be successful or yield increased revenue.

Harm to our brand and our reputation can also arise from many other sources, including competitor litigation and employee misconduct, which we have experienced in the past, and misconduct by our consultants, suppliers, and other third-party service providers that may result in data loss or technology failure. Under certain circumstances, our employees may misuse their access to our platform to secure an improper advantage. Any such misuse of our platform could result in negative press coverage and negatively affect our reputation, which could result in harm to our business, reputation, and operating results.

The perception of our platform in the marketplace may be significantly influenced by independent industry and research firms who evaluate and provide reviews of our platform, as well as those of our competitors.

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If reviews of our platform are negative, or less positive, compared to those of our competitors', our brand may be adversely affected.

Our strategic partners may also affect our brand and reputation. If customers do not have a positive experience with these partners, it could harm our reputation with our customers.

Negative publicity about us, including about our management, the efficacy and reliability of our platform, our product offerings, our professional services, and the customers we work with, even if inaccurate, could adversely affect our reputation and brand.

Finally, we rely on a combination of intellectual property laws to establish and protect our rights over our brand. For more information, see the risk factor titled "—Failure to obtain, maintain, protect, or enforce our intellectual property and proprietary rights could enable others to copy or use aspects of our platform without compensating us, which could harm our brand, business, operating results, and financial condition."

***We rely heavily on our direct sales force, and any inability to successfully build, scale, retain, or motivate our sales organization could adversely affect our business, operating results, and financial condition.***

We rely heavily on our direct sales force to drive customer acquisition, expand adoption and usage among existing customers, and support our growth into new verticals and geographic markets. The successful execution of our strategy requires us to continually build, scale, and expand our direct sales force, both in the United States and internationally.

We have made, and expect to continue to make, significant investments to recruit, hire, train, and retain highly qualified sales personnel with the skills and technical knowledge necessary to market and sell our platform, products, and services. Competition for skilled sales professionals, especially those with experience in fleet management and AI-enabled software, is intense, and the costs associated with attracting and retaining such personnel may be substantial.

Newly hired sales personnel require significant time and resources to become fully productive. Our investments in training, onboarding, and sales operations may not yield anticipated results if new hires do not achieve productivity as quickly as expected or at all, or if turnover increases and we are unable to backfill roles with similarly qualified individuals in a timely manner. Further, as we continue to expand into new customer segments, industries, or geographic markets, we may encounter challenges identifying sales candidates with relevant experience or language and cultural competencies, which could slow or hinder our expansion plans.

If we do not successfully scale, develop, and support our direct sales organization—for example, if we fail to hire enough qualified sales personnel commensurate with our growth and new product releases, fail to provide effective ongoing training, professional development, and incentives, fail to adapt our sales processes as we expand internationally or target new markets or use cases, or fail to retain key sales personnel or replace departing sales leaders and high-performers—then our business, operating results, and financial condition may be materially and adversely affected.

In addition, any significant disruption, restructuring, or realignment of our sales organization (whether due to management changes, adjustments in sales strategy, changes to compensation structures, or internal reorganizations) could temporarily reduce productivity, disrupt customer relationships, or delay new customer acquisition and expansion sales. Motivating, retaining, and scaling our sales force, while also maintaining the quality of customer engagement and support, will require large and sustained investments. There can be no assurance that these investments will produce desired outcomes or that our sales organization will be able to meet our evolving business objectives.

Furthermore, because of our heavy dependence on direct sales execution, our operating results may be subject to significant fluctuations based on the performance, regional allocation, or turnover of our sales personnel. If we fail to hire the right talent, we will be unable to execute on our sales strategy to attract

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new customers, expand sales to existing customers, achieve our growth targets, and respond to competitive developments, any or all of which could adversely affect our business, operating results, and financial condition.

***Business disruptions or performance problems associated with our technology and infrastructure, including interruptions, delays, or failures in service from our third-party cloud computing platform and other third-party service providers, could adversely affect our business, operating results, and financial condition.***

We have experienced, and may in the future experience, disruptions, data loss, outages, and other performance problems with our platform and infrastructure due to a variety of factors, including infrastructure changes, introductions of new functionality, human or software errors, capacity constraints, or security-related incidents. If our platform is unavailable or if our customers are unable to access our platform within a reasonable amount of time, or at all, we may experience loss of customers, damage to our brand, or other harm to our business. Our customers rely on our platform to manage their fleets, equipment, sites, and other physical operations, and for compliance with various laws. If we do not effectively address capacity constraints, upgrade our systems, and continually develop our technology and network architecture to accommodate actual and anticipated changes in technology, our business, operating results, and financial condition could be adversely affected.

A significant portion of our platform and business operations run on a third-party cloud computing platform. Any disruption or failure of our third-party cloud computing platform, or other third-party service providers that we use, could cause delays in completing sales and providing services. The causes for such disruptions or failures could include a major earthquake, blizzard, fire, cyberattack, act of terrorism, or other catastrophic event, a decision by one of our third-party service providers to close facilities that we use without adequate notice, or other unanticipated problems with the third-party services that we use, including a failure to meet service standards.

We rely on third parties to provide many essential financial and operational services to support our business. Many of these vendors are less established and have shorter operating histories than traditional software vendors. Moreover, these vendors may provide their services to us via a cloud-based model instead of software that is installed on our premises. As a result, we depend upon these vendors to provide us with services that are always available and are free of errors or defects that could cause disruptions in our business processes. Any failure by these vendors to do so, or any disruption in our ability to access the internet, would materially and adversely affect our ability to manage our operations.

Some of our systems are not fully redundant and our disaster recovery planning may not be sufficient for all eventualities. Further, our business or network interruption insurance may not be sufficient to cover all of our losses that may result from interruptions in our service as a result of system failures and similar events.

Interruptions or performance problems with our technology and infrastructure or that of our third-party service providers could, among other things:

• disrupt our critical business operations, controls, or procedures or IT systems;

• severely affect our ability to conduct normal business operations;

• result in a material weakness in our internal control over financial reporting;

• result in our issuing credits or paying penalties or fines;

• cause our customers to terminate their subscriptions;

• harm our brand and reputation;

• adversely affect our renewal rates or our ability to attract new customers; or

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• cause our platform to be perceived as not being secure.

Any of the above could adversely affect our business, operating results, and financial condition.

***Our ability to deliver key products and drive growth depends in part on strategic partnerships across a variety of sectors, and any disruption or diminished cooperation could adversely affect our business, operating results, and financial condition.***

We maintain and rely on a diverse ecosystem of strategic partners, including insurance companies, professional service providers, vendor finance partners, vehicle and equipment manufacturers, card and network partners, technology integration providers, and public sector channel partners, which strengthen our customer experience, extend our market reach, and support the delivery of our products and services. These relationships are important to our business model, but we do not control our partners' priorities or resources, and any disruption, termination, or shift in focus could materially impact our business, operating results, and financial condition, including customer retention and growth.

We experience a number of risks in connection with our strategic partnerships, including those relating to supply chain delays and manufacturing dependencies, vendor and customer financing arrangements, card program management and credit and fraud risk, and integration and compatibility challenges. Our strategic partners generally retain the ability to alter, deprioritize, or discontinue their relationship with us; they may also contract with competitors or develop competing offerings. Failure by key partners to deliver on their responsibilities, adverse changes in partner agreements, or reputational harm suffered by our partners could negatively affect our business, operating results, and financial condition.

***We may be subject to product liability, warranty, and recall claims that could result in significant direct or indirect costs, or we could experience greater device returns than expected, either of which could have an adverse effect on our business, operating results, and financial condition.***

We are subject to the risk of product liability and warranty claims if our devices actually or allegedly fail to perform as expected or result, or are alleged to result, in bodily injury and/or property damage. Certain technologies incorporated in our devices may increase the risk profile of such devices. While we maintain what we believe to be reasonable insurance coverage to appropriately respond to such liability exposures, large product liability claims, if made, could exceed our insurance coverage limits and insurance may not continue to be available on commercially acceptable terms, if at all. We may not obtain enough insurance to adequately mitigate such operations-related risks, and we may have to pay high premiums, self-insured retentions, or deductibles for the coverage we do obtain. There can be no assurance that we will not incur significant costs to defend these claims or that we will not experience any product liability losses in the future.

Most of our hardware, including our AI Dashcam, AI Omnicam, Smart Dashcam, Vehicle Gateway, Asset Gateway Mini, Environmental Sensor, Engine Immobilizer, and Driver ID Reader, is covered by a limited warranty. If a product is found to have certain covered defects within the applicable warranty period, we will, at our discretion, repair or replace the affected hardware or, in certain cases, refund the customer a portion of the purchase price.

If any of our devices or components are, or are alleged to be, defective, we may be required to participate in recalls, exchanges, repairs, or customer claims against us, including warranty claim requests made under these terms. Since our customers use our solutions for critical aspects of their businesses, any errors, defects, disruptions, service degradations, or other performance problems with our solutions could hurt our reputation and may damage our customers' businesses. Such issues may result in our customers delaying or withholding payment to us, cancelling their agreements, declining to renew, or making service credit claims, warranty claims, or other claims against us, with potential loss of future sales. The costs associated with honoring product warranties and bearing the cost of repair, replacement, or refunds may exceed our historical experience, which could have a material adverse effect on our business, operating results, and financial condition.

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***We face risks associated with the growth of our business in new use cases.***

We have expanded and plan to continue to expand the use cases for our platform, including to those where we may have limited operating experience, and may be subject to increased business, technology, and economic risks that could affect our business, operating results, and financial condition. Expanding the use cases for our platform will continue to require significant resources, and there is no guarantee that such efforts will be successful or beneficial to us. Further, to the extent we expand into and within new use cases that are heavily regulated, we would face additional regulatory scrutiny, risks, and burdens from the governments and agencies which regulate those markets and industries, which could also increase our cost of doing business. Any failure to successfully expand into new markets and within existing use cases for our platform could harm our business, operating results, and financial condition.

***Our ability to maintain customer satisfaction depends in part on the quality of our customer support. Failure to maintain high-quality customer support could have an adverse effect on our business, operating results, and financial condition.***

We believe that the successful use of our platform, products, and services requires a high level of support and engagement for many of our customers. Increased demand for customer support, without corresponding increases in revenue, could increase our costs and adversely affect our business, operating results, and financial condition.

There can be no assurance that we will be able to hire sufficient support personnel as and when needed, particularly if our sales exceed our internal forecasts. Additionally, our customer support team uses third-party AI tools to assist them with responding to and resolving customer inquiries. To the extent that we are unsuccessful in hiring, training, and retaining adequate support resources or utilizing AI tools for customer support, our ability to provide high-quality and timely support to our customers will be negatively impacted, and our customers' satisfaction and their usage of our infrastructure could be adversely affected.

***Our Spend Management product exposes us to credit risk and other risks related to our customers' ability to pay the balances incurred on their Motive Cards.***

We offer our Motive Cards to a wide range of businesses, and the success of this product depends on our ability to effectively manage risks and detect fraud related to their use of the Motive Card. The credit decision-making process for issuing Motive Cards uses proprietary risk models and other techniques designed to analyze the credit risk of specific businesses based on, among other factors, their past purchase and transaction history. In addition, we bear the entire credit risk and are liable to the issuing bank to settle the transaction and may incur losses as a result of claims from the issuing bank. While we always seek to recover any losses from a customer, we may not fully recover them if a customer is unwilling or unable to pay due to their financial condition. Because we are liable to the issuing bank, we may also bear the risk of losses if a customer does not provide payment due to fraudulent or disputed transactions, which we have experienced in the past. We are also subject to risk from fraudulent acts of our customers' employees or contractors. We have a fraud protection guarantee of up to $250,000 for customers that use our Motive Card, which exposes us to potentially significant and unpredictable losses in the event of fraudulent activity, which in turn could materially and adversely affect our business, operating results, and financial condition. Additionally, criminals are using increasingly sophisticated methods to engage in illegal activities which they may use to target us, including "skimming," counterfeit payment cards, and identity theft. A single, significant incident or a series of incidents of fraud or theft involving Motive Cards could result in reputational damage to us, potentially reducing the use and acceptance of our Spend Management product or leading to greater regulation that would increase our compliance costs. Fraudulent activity could also result in the imposition of regulatory sanctions, including significant monetary fines. The foregoing could have a material adverse effect on our business, operating results, and financial condition.

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***Our failure to comply with our third-party card issuer's program requirements may adversely impact our ability to offer our Spend Management product and issue Motive Cards.***

We have entered into an agreement with a third-party card program manager to issue Motive Cards, process Motive cardholder transactions, and manage the relationships with the issuing bank and the card network. Our entry into this program requires us to meet security, compliance, and operational obligations. If we are not able to comply with those obligations or our agreement with the third-party card program manager is suspended, limited, or otherwise terminated for any reason (including, but not limited to, the failure by an issuing bank to comply with applicable regulations), we could experience service interruptions as well as suspension of services, delays, and additional expenses, and we may be unable to replace these services on competitive terms, or at all, which could adversely affect our ability to offer our Spend Management product and issue Motive Cards.

***Our reliance on third-party vendor financing arrangements for customer purchases exposes us to risks of transaction discounts, deal loss if financing is unavailable or declined, and potential constraints on our customer base and revenue growth. If our customers are unable to obtain necessary credit approval, or our financing partners are unable or unwilling to fund new purchase arrangements, our sales process may be delayed or abandoned, which could adversely affect our business, operating results, and financial condition.***

A significant and growing proportion of our customers pay for their subscriptions with funds borrowed from third-party lenders. We refer to these loans as vendor-financing arrangements. Under these arrangements, we receive the contract value net of fees from the lender, who assumes the risk of nonpayment by the customer. As a result, we face only minimal direct exposure to losses from customer non-payment post-funding, and are generally not subject to recourse by the lender in such circumstances, beyond our standard obligations (such as product warranty and customer onboarding).

However, our ability to recognize revenue for these sales is contingent on the customer's ability to satisfy lender credit approval requirements and the lender's willingness and capacity to fund new arrangements, which are dependent on the customer's financial standing, submission of supporting documentation, and prevailing economic and credit market conditions. If a customer is denied credit or the lender declines or delays funding, we may not be able to complete the sale or recognize the associated revenue.

In certain cases, if a customer defaults post-funding, our agreements may require, at the request of the financing partner and subject to contractual terms, that we suspend or interrupt ongoing service to the customer until payment is regularized, which could negatively impact our customer operations and satisfaction, as well as our reputation. These arrangements are generally non-cancellable and cannot be downsized mid-term, and customers remain responsible for their full payment obligation even if their business needs decrease, which may heighten the likelihood of customer frustration, disputes, or non-renewal at contract end.

Any material reduction in the availability of third-party vendor financing, tightening of lender credit criteria, deterioration in lender financial condition, or adverse trends in customer creditworthiness could affect our ability to attract new customers, grow our revenue, and maintain profitability, and would ultimately harm our business, operating results, and financial condition.

***Our future growth depends, in part, on sales to the public sector, and significant changes in the contracting or fiscal policies of such government organizations could adversely affect our business, operating results, and financial condition.***

Our future growth depends, in part, on increasing sales to state and local government organizations, which we refer to as the public sector. Demand from the public sector is often unpredictable and subject to budgetary uncertainty. We have made significant investments to address the public sector, but we cannot assure you that these investments will be successful, or that we will be able to maintain or grow our revenue from the public sector. Although we anticipate that they may increase in the future, sales to the public sector have not accounted for, and may never account for, a significant portion of our revenue.

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Sales to the public sector are subject to a number of challenges and risks that may adversely affect our business, operating results, and financial condition, including the following risks:

• selling to the public sector can be highly competitive, expensive, and time consuming, often requiring significant upfront time and expense without any assurance that such efforts will generate a sale;

• we and our third-party vendors are subject to requirements relating to government certification, software supply chain, or source code transparency which may change and, in doing so, restrict our and their ability to sell into the government sector until we or they have attained the revised certification or meet other new requirements;

• government demand and payment for our platform may be impacted by public sector budgetary cycles and funding authorizations, with funding reductions or delays adversely affecting public sector demand for our platform, including as a result of sudden, unforeseen, and disruptive events such as government shutdowns, government defaults on indebtedness, war, regional geopolitical conflicts around the world, incidents of terrorism, natural disasters, and public health concerns or epidemics;

• governments routinely investigate and audit government contractors' administrative processes, and any unfavorable audit could result in their discontinuing use of our platform, which would adversely impact our revenue and operating results, or institute fines or civil or criminal liability if an investigation, audit, or other review, were to uncover improper or illegal activities;

• governments may require certain devices to be manufactured, produced, hosted, or accessed solely in their country or in other relatively high-cost locations, and we may not produce or host all devices in locations that meet these requirements, affecting our ability to sell these products to government organizations; and

• refusal to grant certain certifications or clearance by one government agency, or decision by one government agency that our devices do not meet certain standards, may cause reputational harm and cause concern with other government agencies.

The occurrence of any of the foregoing could cause government organizations to delay or refrain from purchasing our platform in the future or otherwise adversely affect our business, operating results, and financial condition. Furthermore, in January 2025, President Donald Trump announced an executive order establishing the Department of Government Efficiency in an effort to maximize government efficiency and productivity. Pressures on and uncertainty surrounding the U.S. federal government's budget and potential changes in budgetary priorities, could adversely affect the funding for and purchases of our platform by government organizations.

***Seasonality may cause fluctuations in our operating results and financial position.***

We have experienced, and expect to continue to experience in the future, seasonality in our business. This seasonal trend affects the timing of our revenue, expenses, and cash flows, and may affect our operating results and financial condition. For example, we believe that the seasonality we experience is in part due to our customers' procurement cycles, as many customers look to spend the unused portions of their budgets prior to the end of their fiscal years, as well as the timing and structure of our internal sales incentive and compensation programs. We expect to enter into a higher percentage of agreements with new customers, as well as renewal agreements with existing customers, in the second half of our fiscal year. We expect that this seasonality will continue to affect our operating results in the future and might become more pronounced as we continue to target larger customers.

This seasonality is reflected to a much lesser extent, and sometimes is not immediately apparent, in revenue, due to the fact that we recognize subscription revenue ratably over the term of the subscription. As a result, seasonality may cause fluctuations in our financial results, and other trends that develop may similarly impact our operating results. The variability and unpredictability of our quarterly operating results or other operating metrics could result in our failure to meet our expectations or those of industry or financial analysts. If we fail to meet or exceed such expectations for these or any other reasons, the

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market price of our Class A common stock could fall substantially, and we could face costly lawsuits, including securities class action suits.

***Changes in our pricing, packaging, or billing models could adversely affect our business, operating results, and financial condition.***

We have from time to time made changes to our pricing, packaging, and billing models, and we expect to make changes to our pricing, packaging, and billing models in the future. Our current pricing, packaging, and billing models may not accurately reflect the optimal pricing, packaging, and billing models necessary to attract new customers and retain existing customers, which makes it difficult to accurately plan and forecast our operating results. The introduction of alternative billing arrangements may impact our business, operating results, and financial condition and may make forecasting our operating results more difficult and result in comparisons to periods prior to the updates being less meaningful as some of the drivers underlying our business model will have changed.

Moreover, as the market for our platform matures, as we continue to add additional offerings to our platform, and as competitors introduce new products and services that compete with ours, we may be unable to attract new customers and retain existing customers at the same price or based on the same billing models as we have used historically. We may from time to time decide to make further changes to our billing models due to a variety of reasons, including, but not limited to, changes to the market for our platform, increased use of AI, pricing pressures, and the introduction of new products and services by competitors. Changes to the components of our billing models may result in customer dissatisfaction, lead to a loss of customers, and negatively impact our business, operating results, and financial condition. Moreover, our ability to increase or maintain prices may be constrained by competitive dynamics, customer expectations or pressure to provide discounts, or economic conditions. If we are unable to increase prices to offset rising costs, or if price increases significantly reduce customer demand, our business, operating results, and financial condition could be negatively impacted.

***Because we recognize revenue from subscriptions to our platform over the term of the subscription, downturns or upturns in new business will not be immediately reflected in our operating results.***

We generally recognize revenue from customers ratably over the term of their subscription, which typically ranges from one to five years. As a result, a substantial portion of the revenue we report in each period is attributable to the recognition of deferred revenue relating to agreements that we entered into during previous periods.

Due to our primary model of recognizing revenue ratably, a change in new sales or renewals in any one period is not immediately reflected in our revenue for that period. Any such change, however, will affect our revenue in future periods. Accordingly, the effect of downturns or upturns in new sales and potential changes in our rate of renewals will not be fully reflected in our operating results until future periods. Consequently, we may be unable to adjust our cost structure in a timely manner in response to a significant deterioration in sales or renewals, which could adversely affect our business, operating results, and financial condition.

In arrangements involving third-party vendor finance partners, we also recognize revenue ratably, but receive payment for the entire customer subscription contract upfront, net of financing fees paid by us on behalf of the customer. Under these agreements, the customer makes scheduled repayments directly to the finance partner. While this arrangement accelerates our cash flow and eliminates our exposure to the end customer's credit risk, we retain certain performance-related risks. Our agreements with these finance partners generally require us to provide warranties and to indemnify them against losses resulting from any material breach of our underlying contract with the customer. A failure to meet these obligations could expose us to financial liability and could harm our business, operating results, and financial condition.

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***Our estimates of market opportunity and forecasts of market growth included in this prospectus may prove to be inaccurate, and even if the markets in which we compete achieve the forecasted growth, our business could fail to grow at similar rates, if at all.***

The estimates of market opportunity and forecasts of market growth included in this prospectus may prove to be inaccurate. Market opportunity estimates and growth forecasts included in this prospectus, including those we have generated ourselves, are subject to significant uncertainty and are based on assumptions and estimates that may not prove to be accurate, including due to the risks described herein. Even if the markets in which we compete achieve the forecasted growth, our business could fail to grow at similar rates, if at all.

Our market opportunity may change over time and there is no guarantee that any particular number or percentage of addressable customers covered by our market opportunity estimates will purchase our platform at all or generate any particular level of revenue for us. Any expansion in the markets in which we operate depends on a number of factors, including, but not limited to, the cost, performance, and perceived value associated with our platform and those of our competitors. Even if the markets in which we compete meet the size estimates and growth as forecasted, our business could fail to grow at similar rates, if at all. Our growth is subject to many factors, including, but not limited to, our success in implementing our business strategy, which is subject to many risks and uncertainties. Accordingly, our forecasts of market growth included in this prospectus should not be taken as indicative of our future growth.

***Our platform relies on cellular and GPS networks and any disruption, failure, or increase in costs of these networks could adversely affect the functionality of our platform, products, and services and impede our profitability and harm our business, operating results, and financial condition.***

Two critical links in our current platform offerings are between our devices and GPS satellites and between our devices and cellular networks, which allow us to obtain location and other operational data and transmit that data to our platform. Service outages occurring in the cellular network upon which our platform relies or lack of coverage in certain locations have affected and may in the future adversely affect the functionality of our platform, products, and services. Moreover, technologies that rely on GPS depend on the use of radio frequency bands, and any modification of the permitted uses of these bands may adversely affect the functionality of GPS and, in turn, our solution.

Additionally, increases in the fees charged by cellular carriers for data transmission, changes to the conditions by which our cellular carriers provide service on their or their partners' networks, or changes in the cellular networks themselves, such as a cellular carrier discontinuing support of the network currently used by our or our customers' devices, could increase our costs and impact our profitability. Mobile carriers regularly discontinue radio frequency technologies as they become obsolete. If we are unable to design our solution into new technologies, our business, operating results, and financial condition could be harmed.

***Existing and future acquisitions, strategic investments, partnerships, or alliances could be difficult to identify and integrate, divert the attention of key management personnel, disrupt our business, dilute stockholder value, and adversely affect our business, operating results, and financial condition.***

As part of our business strategy, we have in the past and expect to continue to make investments in and/or acquire complementary companies, services, products, technologies, or talent. All of our acquisitions and investments are subject to a risk of partial or total loss of investment capital. Our ability as an organization to acquire and integrate other companies, services, or technologies in a successful manner is not guaranteed.

In the future, we may not be able to find suitable acquisition candidates, and we may not be able to complete such acquisitions on favorable terms, if at all. Our due diligence efforts may fail to identify all of the challenges, problems, liabilities, or other shortcomings involved in an acquisition. Further, current and

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future changes to the U.S. and foreign regulatory approval process and requirements related to acquisitions may cause approvals to take longer than anticipated, not be forthcoming, or contain burdensome conditions, which may prevent the transaction or jeopardize, delay, or reduce the anticipated benefits or synergies of the transaction, and impede the execution of our business strategy. If we do complete acquisitions, we may not ultimately strengthen our competitive position or ability to achieve our business objectives, and any acquisitions we announce or complete could be viewed negatively by our customers or investors. For example, in 2020, we elected to wind down our acquisition of a freight brokerage company due our inability to achieve our business objectives.

If we are unsuccessful at integrating acquisitions, or the technologies and personnel associated with such acquisitions into our company, the business, operating results, and financial condition of the combined company could be adversely affected. Any integration process may require significant time and resources, and we may not be able to manage the process successfully. We may not successfully evaluate or utilize the acquired technology or personnel, or accurately forecast the financial impact of an acquisition transaction, causing unanticipated write-offs or accounting (including goodwill) charges. Additionally, integrations could take longer than expected, or if we move too quickly in trying to integrate an acquisition, strategic investment, partnership, or other alliance, we may fail to achieve the desired efficiencies.

We have had, and may in the future have, to pay cash, incur debt, or issue equity securities to pay for any such acquisition, each of which could adversely affect our financial condition and the market price of our Class A common stock. The sale of equity or issuance of debt to finance any such acquisitions could result in dilution to our stockholders, which, depending on the size of the acquisition, may be significant. The incurrence of indebtedness would result in increased fixed obligations and could also include covenants or other restrictions that would impede our ability to manage our operations.

Furthermore, our ability to make acquisitions and finance acquisitions through the sale of equity or issuance of debt is limited by certain restrictions contained in the Credit Agreement and the Convertible Securities (each as defined below). For additional information, see the section titled "Management's discussion and analysis of financial condition and results of operations—Liquidity and capital resources."

Additional risks we may face in connection with acquisitions include:

• diversion of management's time and focus from operating our business to addressing acquisition integration challenges;

• the inability to coordinate research and development and sales and marketing functions;

• the inability to integrate solution and service offerings;

• retention of key employees from the acquired company;

• changes in relationships with strategic partners or the loss of any key customers or partners as a result of acquisitions or strategic positioning resulting from the acquisition;

• cultural challenges associated with integrating employees from the acquired company into our organization;

• integration of the acquired company's accounting, customer relationship management, management information, human resources, and other administrative systems;

• the need to implement or improve controls, procedures, and policies at a business that prior to the acquisition may have lacked sufficiently effective controls, procedures, and policies;

• unexpected security risks or higher than expected costs to improve the security posture of the acquired company;

• higher than expected costs to bring the acquired company's IT infrastructure up to our standards;

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• additional legal, regulatory, or compliance requirements;

• financial reporting, revenue recognition, or other financial or control deficiencies of the acquired company that we do not adequately address and that cause our reported results to be incorrect;

• liability for activities of the acquired company before the acquisition, including intellectual property infringement claims, violations of laws, commercial disputes, tax liabilities, and other known and unknown liabilities;

• failing to achieve the expected benefits of the acquisition or investment; and

• litigation or other claims in connection with the acquired company, including claims from or against terminated employees, customers, current and former stockholders, or other third parties.

Our failure to address these risks or other problems encountered in connection with acquisitions and investments could cause us to fail to realize the anticipated benefits or synergies of these acquisitions or investments, cause us to incur unanticipated liabilities, and harm our business generally.

***Key business metrics and other estimates are subject to inherent challenges in measurement and to change as our business evolves, and our business, operating results, and financial condition could be adversely affected by real or perceived inaccuracies in those metrics or any changes in metrics we disclose.***

We regularly review key business metrics, including annualized recurring run-rate ("ARR") and Large Customers (as defined below), and other measures to evaluate growth trends, measure our performance, and make strategic decisions. These metrics are calculated using internal company data and have not been validated by an independent third party. While these numbers are based on what we believe to be reasonable estimates for the applicable period of measurement at the time of reporting, there are inherent challenges in such measurements. If we fail to maintain effective processes and systems, our metrics calculations may be inaccurate, and we may not be able to identify those inaccuracies. We regularly review our processes for calculating these metrics, and from time to time we make adjustments to improve their accuracy. Moreover, we may periodically change the definition or methodology underlying our metrics. If our key metrics are inaccurate or if investors perceive any changes to our key business metrics or the methodologies for calculating these metrics negatively, our business could be adversely affected.

***Adverse global macroeconomic conditions or reduced spending on fleet management technology could adversely affect our business, operating results, and financial condition.***

Our business depends on the overall demand for fleet management solutions and technology solutions for the physical economy and on the economic health of our current and prospective customers. As the landscape for the types of solutions that we offer evolves, the purchase of certain of our products and services may be considered discretionary and involve a significant commitment of capital, implementation, and other resources by an organization and, as a result, prospective customers may decide not to purchase our platform, products, and services and existing customers may reduce their use of our products and services. Weak global and regional economic conditions—including, but not limited to, U.S. and global macroeconomic issues, actual or perceived global banking and finance related issues, any economic impacts due to changes in U.S. federal spending, changes in tariffs and trade restrictions, labor shortages, supply chain disruptions, fluctuating interest rates and inflation, changes in spending environments, geopolitical instability, warfare, and uncertainty, including the effects of geopolitical conflicts—could result in longer sales cycles, pressure to lower prices for our platform, reduced sales to new or existing customers, or slower or declining growth of our business or negatively impact our ability to attract new customers, retain existing customers, or increase the adoption of our platform, products, and services by new and existing customers, any of which would adversely affect our business, operating results, and financial condition. Deterioration in economic conditions in any of the countries in which we do business could also cause slower or impaired collections on accounts receivable, which may adversely impact our liquidity and financial condition.

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The imposition of tariffs, border taxes, or other barriers to trade may directly or indirectly impact our business, operating results, financial condition, and stock price, including as a result of any impact on our customers that may reduce demand for our platform, products, and services. For example, the United States has recently announced tariffs, certain of which have been temporarily suspended, on imported goods from most countries and select countries have announced retaliatory tariffs in response, contributing to volatility in the markets. There can be no assurance that we will be able to mitigate the impacts of the foregoing or any future changes in global trade dynamics on our business.

***We may be adversely affected by natural disasters, pandemics, and other catastrophic events, and by man-made problems such as war and regional geopolitical conflicts around the world, that could disrupt our business operations, and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.***

Natural disasters or other catastrophic events may cause damage or disruption to our operations, international commerce, and the global economy, and thus could have an adverse effect on us. Our business operations are also subject to interruption by fire, power shortages, flooding, and other events beyond our control. In addition, our global operations expose us to risks associated with public health crises, such as pandemics and epidemics, which could harm our business and cause our operating results to suffer. Further, acts of war, armed conflict, terrorism, and other geopolitical unrest, such as the conflicts in the Middle East, between India and Pakistan, and between Russia and Ukraine, could cause disruptions in our business, the businesses of our partners or customers, or the economy as a whole. Moreover, the risks associated with AI technology are still unknown and advances in AI could pose risks, including, but not limited to, cyberattacks, terrorism, disruption to labor markets, criminal misuse, autonomous warfare, and catastrophic accidents.

In the event of a natural disaster, including, but not limited to, a major earthquake, blizzard, or hurricane, or a catastrophic event such as a fire, power loss, cyberattack, or telecommunications failure, we may be unable to continue our operations and may endure system interruptions, reputational harm, delays in development of our platform, lengthy interruptions in service, breaches of data security, and loss of critical data, all of which could have an adverse effect on our future operating results. Climate change could result in an increase in the frequency or severity of such natural disasters. Moreover, any of our office locations may be vulnerable to the adverse effects of climate change. For example, we have corporate offices located in California, a state that frequently experiences earthquakes, wildfires, and resultant air quality impacts and power shutoffs associated with wildfire prevention, heatwaves, and droughts. These events can, in turn, have impacts on inflation risk, food security, water security, and on our employees' health and well-being. Additionally, all the aforementioned risks will be further increased if we do not implement an effective disaster recovery plan or our partners' or customers' disaster recovery plans prove to be inadequate.

**Risks related to our people**

***We rely on Shoaib Makani, our co-founder, Chief Executive Officer, and a member of our board of directors, other members of our management team, and other key employees and will need additional skilled personnel to grow our business. The loss of one or more key employees or our inability to hire, integrate, train, manage, retain, and motivate qualified personnel, including members of our board of directors, could harm our business.***

Our future success depends, in part, on our ability to hire, integrate, train, manage, retain, and motivate the members of our management team and other key employees throughout our organization. In particular, we are highly dependent on the services of Shoaib Makani, who is critical to the development of our technology, products, platform, future vision, and strategic direction.

The loss of key personnel, including members of our management team, our board of directors, and certain highly-skilled members of our sales, marketing, product, technology, support , business systems, finance, legal, or people teams, could disrupt our operations and have an adverse effect on our ability to grow our business. We also do not maintain key person insurance on any members of our management

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team in the event of a loss due to death or disability. From time to time there have been, and may in the future be, changes in our management team. While we seek to manage any such transitions carefully, such changes may result in a loss of institutional knowledge, cause disruptions to our business, and negatively affect our business.

Competition for highly-skilled personnel is intense, especially in markets such as the San Francisco Bay Area where we have a substantial presence and need for highly-skilled personnel, and we may not be successful in hiring or retaining qualified personnel to fulfill our current or future needs. If we fail to attract highly-skilled personnel or fail to retain and motivate our current personnel, our business and future growth prospects would be severely harmed.

In particular, we continuously compete for exceptional engineers and product managers with experience designing, developing, and managing hardware devices, platform software, mobile applications and related services. Competition is especially pronounced in the market for AI talent.

We have, from time to time, experienced, and we expect to continue to experience, difficulty in hiring and retaining highly-skilled employees with appropriate qualifications at a suitable cost, and this risk may be exacerbated by factors related to, among other things, increased recruiting efforts by other companies.

Many of the companies that we compete with for experienced personnel have greater resources than we have and may offer lucrative compensation packages. In the past, we have used stock-based compensation to recruit and retain qualified employees. If the perceived value of our stock-based compensation is viewed as below market or declines, it may adversely affect our ability to attract and retain highly-skilled employees. Even if we are able to recruit and retain qualified personnel, the cost of doing so may impact our profitability and our ability to meet the expectations of investors and analysts.

Our competitors also may be successful in recruiting and hiring members of our management team, sales team, or other key employees, and it may be difficult for us to find suitable replacements on a timely basis, on competitive terms, or at all. We have in the past, and may in the future, be subject to allegations that employees we hire have been improperly solicited, have divulged proprietary or other confidential information, their former employers own such employees' inventions or other work product, or they have been hired in violation of non-compete provisions or non-solicitation provisions, all of which may prevent us from hiring or retaining qualified personnel.

We also invest significant time and expense in training our employees, which increases their value to competitors who may seek to recruit them and increases our costs. Further, the labor market is subject to external factors that are beyond our control, including, but not limited to, our industry's highly competitive market for skilled workers and leaders, cost inflation, overall macroeconomics, and workforce participation rates. Should our competitors recruit our employees, our level of expertise and ability to execute our business plan would be negatively impacted.

In recent years, the increased availability of hybrid or remote working arrangements has also expanded the pool of companies that can compete for our employees and employment candidates. Although we have entered into employment agreements with our key employees, these agreements are on an "at-will" basis, meaning they are able to terminate their employment with us at any time. If we fail to attract new personnel or fail to retain and motivate our current personnel, our business and future growth prospects would be severely harmed.

Restrictive immigration policies or legal or regulatory developments relating to immigration in any of the global markets in which we have employees may also negatively affect our efforts to attract and hire new personnel as well as retain our existing personnel. Our business may be adversely affected if legislative or administrative changes to immigration or visa laws and regulations impair our hiring processes.

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***If we do not effectively integrate, train, manage, and retain product, engineering, and sales personnel, and expand our product, research, engineering, and sales capabilities, we may be unable to increase our customer base and increase sales to our existing customers.***

Our ability to increase our customer base, enhance our platform, and achieve broader market adoption of our products and services will depend to a significant extent on our ability to continue to hire, integrate, and retain talented product, research, and engineering personnel. We have dedicated, and plan to continue to dedicate, significant resources to our product, research, and engineering programs to enhance our platform, including by investing in developing additional features and products, but there is no guarantee that we will be successful in such endeavors. If we are unable to find efficient ways to deploy our product, research, and engineering investments or if these programs are not effective, our business, operating results, and financial condition would be adversely affected.

Additionally, in recent years, we have made significant investments in our sales and marketing teams and plan to continue expanding our sales force. There is significant competition for sales personnel with the skills and technical knowledge that we require. Our ability to achieve revenue growth will depend, in part, on our success in hiring, integrating, training, managing, and retaining sufficient numbers of qualified sales personnel to support our growth, particularly in international markets.

New hires require significant training and may take extended time before they are productive. Our recent hires and planned hires may not become productive as quickly as we expect, or at all, and we may be unable to hire or retain sufficient numbers of qualified individuals in the markets where we do business or plan to do business. Moreover, our international expansion may be slow or unsuccessful if we are unable to retain qualified personnel with international experience, language skills, and cultural competencies in the geographic markets which we target.

***We believe that our company culture has contributed to our success, and if we cannot maintain this culture as we grow, we could lose the innovation, creativity, and teamwork fostered by our culture, and our business may be harmed.***

We believe that our company culture has been and will continue to be vital to our success, including in attracting, developing, and retaining highly-skilled personnel to deliver an exceptional product and service experience to our customers. We have worked to develop our culture, and we strive to empower our employees to continuously learn, evolve, and grow, and treat each other with respect. If we do not continue to develop our company culture as we grow and evolve, including maintaining a culture that encourages a sense of ownership by our employees, it could harm our ability to foster the innovation, creativity, and teamwork that we believe we need to support our growth. We continue to hire to support our growth. As our organization grows and is required to implement more complex organizational structures, we may find it increasingly difficult to maintain the beneficial aspects of our company culture, which could negatively impact its future success. Further, maintaining a cohesive company culture may prove difficult as a significant percentage of our employees work fully remote or remotely for at least part of the workweek. If we are unable to maintain our company culture, we could lose the innovation, passion, and dedication of our team and as a result, our business and ability to focus on our corporate objectives may be harmed.

***Our risk management policies and procedures may not be fully effective in mitigating our risk exposure in all market environments or against all types of risk.***

We operate in a rapidly changing industry. Accordingly, our risk management policies and procedures may not fully identify, monitor, and manage the major risks facing our business. If our risk management policies and procedures are not fully effective or we are unsuccessful identifying and mitigating the major risks to which we are or may be exposed, we may incur losses that exceed our coverage limits or are not insured or insurable, suffer harm to our reputation, or be subject to litigation or regulatory actions that could adversely affect our business, operating results, or financial condition.

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**Risks related to our intellectual property**

***Failure to obtain, maintain, protect, or enforce our intellectual property and proprietary rights could enable others to copy or use aspects of our platform without compensating us, which could harm our brand, business, operating results, and financial condition.***

We rely on a combination of patent, trademark, copyright, and trade secrets laws, and contractual provisions, including confidentiality agreements, to establish and protect our intellectual property and proprietary technology, including from unauthorized use or disclosure by our customers, third-party partners, employees, and consultants. However, the steps we take to obtain, maintain, protect, and enforce our intellectual property and proprietary rights may be inadequate. We will not be able to protect our intellectual property rights if we are unable to enforce our rights or if we do not detect unauthorized use of our intellectual property rights. For example, our applications to register the MOTIVE trademark in the United States have been opposed by third parties, and those opposition proceedings remain pending. If we fail to protect our intellectual property rights adequately, our competitors may gain access to our proprietary technology and develop and commercialize substantially identical products, services, or technologies, and our business, operating results, and financial condition may be harmed.

Valid patents may not issue from our pending or future patent applications, and the claims allowed on any issued patents may not be sufficient to protect our technology or platform. Any issued patents that we have or may obtain may be challenged or circumvented, invalidated, or held unenforceable through administrative processes, including re-examination, inter partes review, interference and derivation proceedings, and equivalent proceedings in foreign jurisdictions (e.g., opposition proceedings) or litigation, and any rights granted under these patents may not actually provide adequate defensive protection or competitive advantages to us. For example, an inter partes review of one of our patents was instituted in August 2025. In addition, there may be issued patents held by third parties of which we are not aware, that, if found to be valid and enforceable, could be alleged to be infringed by our current or future technologies or products. There may also be pending patent applications of which we are not aware that may result in issued patents, which could be alleged to be infringed by our current or future technologies or products. Patent applications in the United States are typically not published until at least 18 months after filing, or, in some cases, not at all, and publications of discoveries in industry-related literature lag behind actual discoveries. We cannot be certain that we were the first to make the inventions claimed in our pending patent applications or that we were the first to file for patent protection. Additionally, the process of obtaining patent protection is expensive and time-consuming, and we may not be able to prosecute all necessary or desirable patent applications at a reasonable cost or in a timely manner. Recent changes to patent laws in the United States may also bring into question the validity of certain software patents and may make it more difficult and costly to prosecute patent applications.

Furthermore, legal standards relating to the validity, enforceability, and scope of protection of intellectual property rights are uncertain, which may lead to increased costs and risks surrounding the prosecution, validity, ownership, enforcement, and defense of our issued patents, patent applications, and other intellectual property rights, as well as uncertainty regarding the outcome of third-party claims of infringement, misappropriation, or other violation of intellectual property rights which may be brought against us and actual or enhanced damages that may be awarded in connection with any such current or future claims. Such uncertainty could have a material and adverse effect on our business, operating results, and financial condition.

In particular, we are unable to predict or assure that:

• our intellectual property rights will not lapse or be invalidated, circumvented, challenged, or, in the case of third-party intellectual property rights licensed to us, be licensed to others;

• our intellectual property rights will be sufficient to protect our products and services or our business or provide competitive advantages to us;

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• rights previously granted by third parties to intellectual property rights licensed or assigned to us, including portfolio cross-licenses, will not hamper our ability to assert our intellectual property rights or hinder the settlement of currently pending or future disputes;

• any of our pending or future patent, copyright, or trademark applications will be issued or have the coverage originally sought; and

• we will be able to enforce our intellectual property rights in certain jurisdictions, in particular in foreign countries where the laws may not be as protective of intellectual property rights as those in the United States and mechanisms for enforcement may be inadequate.

We pursue the registration of our patents, copyrights, trademarks, service marks, and domain names in the United States and in certain foreign jurisdictions. These application processes are expensive and may not be successful in all jurisdictions or for every such application, and we may not pursue such protections in all jurisdictions that may be relevant, for all our goods or services, or in every class of goods and services in which we operate. Additionally, we may not be able to obtain, maintain, protect, exploit, defend, or enforce our intellectual property rights in every foreign jurisdiction in which we operate. For example, effective trade secret protection may not be available in every country in which our products are available or where we have employees or independent contractors. The loss of trade secret protection could make it easier for third parties to compete with our products by copying functionality. Further, many foreign countries limit the enforceability of patents against certain third parties, including government agencies or government contractors. In these countries, patents may provide limited or no benefit. In addition, any changes in the trade secret, employment, and other intellectual property laws in any country in which we operate may compromise our ability to enforce our trade secrets and other intellectual property rights. The legal systems of certain foreign countries do not favor the enforcement of patents, trademarks, copyrights, trade secrets, and other intellectual property and proprietary protection, which could make it difficult for us to prevent or stop any infringement, misappropriation, dilution, or other violation of our intellectual property rights. If we fail to maintain, protect, and enhance our intellectual property rights, our brand, business, operating results, and financial condition may be harmed. In addition, from time to time we have engaged employees, contractors, and developers located outside of the United States to assist with the development of our technology and intellectual property. Each jurisdiction has different rules regarding the language and procedures required to effectively assign to us certain intellectual property rights, and we may not have effectively implemented such language and procedures in each jurisdiction on every occasion, which may also limit our ability to perfect and protect our technology and intellectual property rights.

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From time to time, we have been, currently are, and may in the future be, party to litigation to enforce our patents and other intellectual property rights, to protect our trade secrets, to determine the validity and scope of the proprietary rights of others, or to defend against claims of infringement or invalidity. Protecting our intellectual property rights, both as a defendant and plaintiff, as applicable, through litigation in the United States and internationally has entailed, and may in the future entail, significant time and expense. For additional information, see the section titled "Business—Legal proceedings." Such litigation could result in substantial costs and diversion of resources and could negatively affect our business, operating results, and financial condition. If we are unable to protect our proprietary rights, including aspects of our software and platform protected other than by patent rights, we will find ourselves at a competitive disadvantage to others who need not incur the expense, time, and effort required to create our platform and other innovative products that have enabled us to be successful to date. Moreover, we may need to expend additional resources to defend our intellectual property rights in foreign countries, and our inability to do so could impair our business or adversely affect our international expansion.

Furthermore, the application of intellectual property law to AI technologies is a new and emerging practice, and there is uncertainty and ongoing litigation in different jurisdictions as to the degree and extent of protection warranted for AI and machine learning systems and relevant system input and outputs. The law is also uncertain across jurisdictions regarding the copyright ownership of content that is produced in whole or in part by AI tools. As a result, our use of AI tools in our product development and engineering processes may make it difficult to assert ownership rights over our technology. If we fail to obtain protection for the intellectual property rights concerning our AI technologies, or later have our intellectual property rights invalidated or otherwise diminished, our competitors may be able to take advantage of our research and development efforts to develop competing products which could adversely affect our reputation, business, operating results, and financial condition. In addition, given the long history of development of AI technologies, other parties may have, or in the future may obtain, patents or other proprietary rights that could prevent, limit, or interfere with our ability to make, use, or sell our own AI technologies.

***Third parties have claimed and may claim that our platform infringes, misappropriates, or otherwise violates their intellectual property rights and such claims could be time-consuming or costly to defend or settle, result in the loss of significant rights, or harm our relationships with our customers or reputation in the industry.***

We are, and may in the future become, subject to intellectual property disputes. For additional information regarding the intellectual property disputes we are currently a part of, see the section titled "Business—Legal proceedings." Our success depends, in part, on our ability to develop and commercialize our platform, products, and services without infringing, misappropriating, or otherwise violating the intellectual property rights of third parties. However, we may not be aware that our platform, products, or services are infringing, misappropriating, or otherwise violating third-party intellectual property rights. Third parties have claimed, and may in the future bring claims alleging, that our current or future platform capabilities, products, and services infringe their intellectual property rights. Such claims may also result in legal claims against our third-party partners and our customers. We cannot predict the outcome of lawsuits and cannot ensure that the results of any such claims will not have an adverse effect on our business, operating results, and financial condition. These claims are and may in the future be time consuming, costly to defend or settle, damage our brand and reputation, harm our customer relationships, and create liability for us. Contractually, we are obligated to indemnify our partners and customers for certain expenses or liabilities they may incur as a result of any such third-party intellectual property infringement claims associated with our products and services. In addition, to the extent that any claim arises as a result of third-party technology we have licensed for use in our products and services, we may be unable to recover from the appropriate third party any expenses or other liabilities that we incur. We expect the number of such claims, whether warranted or not, to increase, particularly as a public company with an increased profile and visibility, as the number of products and services and the level of competition in our market grows, as the functionality of our products and services overlaps with that of other products and services, and as the volume of issued software patents and patent applications continues to increase.

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Companies in the software and technology industries, some of whom may compete with us, own large numbers of patents, copyrights, trademarks, and trade secrets and frequently engage in litigation based on allegations of infringement or other violations of intellectual property rights. In addition, many of these companies have the capability to dedicate substantially greater resources to enforce their intellectual property rights and to defend claims that may be brought against them. Furthermore, patent holding companies, non-practicing entities, and other adverse patent owners that are not deterred by our existing intellectual property protections may seek to assert patent claims against us. From time to time, third parties have invited us to license their patents and may, in the future, assert patent, copyright, trademark, or other intellectual property rights against us, our third-party partners, or our customers. We have received, and may in the future receive, notices that claim we have misappropriated, misused, or infringed other parties' intellectual property rights, and, to the extent we gain greater market visibility, we face a higher risk of being the subject of intellectual property infringement claims.

There may be third-party intellectual property rights, including issued or pending patents and trademarks, that cover significant aspects of our technologies or business methods and assets. In the event that we engage software engineers or other personnel who were previously engaged by competitors or other third parties, we may be subject to claims that those personnel have inadvertently or deliberately incorporated proprietary technology of third parties into our products or have otherwise improperly used or disclosed trade secrets or other proprietary information. We may also in the future be subject to claims by employees or contractors asserting an ownership right in our patents, patent applications, or other intellectual property rights as a result of the work they performed on our behalf. In addition, we may lose valuable intellectual property rights or personnel. A loss of key personnel or their work product could hamper or prevent our ability to develop, market, and support potential products or enhancements, which could severely harm our business.

Further, we may use AI technologies, including tools provided by third parties, to develop or assist in the development of our own software code. While use of such tools makes our development process more efficient, AI technologies have sometimes generated content that is "substantially similar" to proprietary or open source software code on which the AI tool was trained. If the AI technologies we use generate code that is too similar to other proprietary code, or to software processes that are protected by patents, we could be subject to intellectual property infringement claims. We may also not be able to anticipate and detect security vulnerabilities in such AI-generated software code, including those that could be induced by a maliciously trained AI model. If our tools generate code that is too similar to open source code, we risk losing protection of our own proprietary code that is commingled with such code. Finally, to the extent we use third-party AI technologies to develop software code, the terms of use of these tools may state that the third-party provider retains rights in the generated code.

Any intellectual property claims, whether with or without merit, could be very time-consuming, could be expensive to settle or litigate, and could divert our management's attention and other resources, even if such claims do not result in litigation or are resolved in our favor. These claims could also subject us to significant liability for damages, potentially including treble damages if we are found to have willfully infringed patents or copyrights, and may require us to indemnify our customers for liabilities they incur as a result of such claims. Although we carry general liability insurance, our insurance may not cover potential claims of this type or may not be adequate to indemnify us for all liability that may be imposed. These claims could also result in our having to stop using technology found to be in violation of a third party's rights. We might be required to seek a license for the applicable third-party intellectual property rights, which may not be available on reasonable terms, or at all. Even if a license was available, we could be required to pay significant royalties, which would increase our operating expenses, or we could be required to develop alternative non-infringing technology, which may require significant time, effort, and expense, and may affect the performance or features of our platform. If we cannot license or develop alternative non-infringing substitutes for any infringing technology used in any aspect of our business, we may decide to limit or stop sales of certain of our products or services and may be unable to compete effectively. Moreover, there could be public announcements of the results of hearings, motions, or other interim proceedings or developments, and if securities analysts or investors perceive these results to be

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negative, it could have a substantial adverse effect on the price of our Class A common stock. Any of these results would adversely affect our business, operating results, and financial condition.

***Some of our technology incorporates "open-source" software, which could under certain circumstances materially and adversely affect our ability to sell our platform and subject us to possible litigation.***

Certain hardware designs and software used to build our products and services are, and certain software of our customers, third-party partners, and vendors, may be, derived from "open-source" materials that are made generally available to the public by their authors or other third parties. Open source software is made available under licenses that in some instances may subject us to certain unfavorable conditions, including requirements that we offer our proprietary software, or portions of our proprietary software, which incorporates or links to such open source software, for no cost, that we make available source code for modifications or derivative works we create based upon, incorporating, or using such open source software, and that we license such modifications or derivative works under the terms of the applicable open source licenses.

Our platform contains third-party open-source software components, and failure to comply with the terms of the underlying open-source software licenses could restrict our ability to sell our platform, products, and services. The use and distribution of open source software may entail greater risks than the use of third-party commercial software, as open source licensors generally do not provide warranties or other contractual protections regarding infringement claims or the quality of the code, which licensors are not typically required to maintain and update, and licensors can change the license terms on which they offer the open source software without notice. In addition, some open-source projects have known vulnerabilities and architectural instabilities and are provided on an "as-is" basis which, if not properly addressed, could negatively affect the performance of our platform. Further, the shared nature of open source software means the source code for open source software used in our, or our vendors', offerings is widely available to the public, and a malicious actor could attempt to identify or create vulnerabilities in this open sourced code and exploit those security vulnerabilities, which may increase the likelihood of a data breach, network interruption, or other type of ransomware attack or cyberattack against us or against third parties who may use open source software, such as our key vendors or technology licensors, any of which could negatively impact our business. Although we monitor our use of open source software in an effort to comply with the terms of the applicable open source licenses, to avoid subjecting our platform and products to conditions we do not intend, and to avoid subjecting our platform and products to security vulnerabilities, many of the risks associated with use of open source software cannot be eliminated and such risks could materially and adversely affect our business, operating results, and financial condition, as well as our reputation, including if we are required to take remedial action that may divert resources away from our development efforts.

Our use and distribution of certain software is subject to open-source licenses that may require that we make certain source code publicly available. If we combine and distribute our proprietary software with open source software in a certain manner, we could, under certain open source licenses, be required to release the combined source code of our proprietary software to the public, under terms authorizing further modification and redistribution, or otherwise be limited in the licensing of our offerings, each of which could provide an advantage to our competitors or other entrants to the market, create security vulnerabilities in our platform, require us to re-engineer all or a portion of our platform, and reduce or eliminate the value of our platform. This would allow our competitors to create similar offerings with lower development efforts and in less time and ultimately could result in a loss of sales for us. If we inappropriately use or incorporate open-source software subject to certain types of open-source licenses that challenge the proprietary nature of our products, we may be required to re-engineer such products, discontinue the sale of such products, or take other remedial actions. Any efforts to re-engineer all or a portion of our platform could result in potentially prolonged periods of reduced usability and accessibility of our platform, which in turn would adversely affect our business, operating results, and financial condition.

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There is evolving legal precedent for interpreting the terms of certain open-source licenses, including the determination of which works are subject to the terms of such licenses. The terms of many open-source licenses have not been interpreted by U.S. courts, and there is a risk that these licenses could be construed in ways that could impose unanticipated conditions or restrictions on our ability to commercialize any offerings incorporating such software. Moreover, we may have incorporated or used open-source software in a manner that is inconsistent with the terms of the applicable license or our current policies and procedures, and we cannot guarantee that our processes for controlling our use of open-source software in our platform are or will be effective. From time to time, we may face claims from third parties asserting ownership of, or demanding release of, the open-source software or derivative works that we developed using such software, which could include our proprietary source code, or otherwise seeking to enforce the terms of the applicable open-source license. These claims, regardless of validity, could result in time consuming and costly litigation, divert management's time and attention away from developing the business, expose us to customer indemnity claims, or force us to disclose source code. Litigation could be costly for us to defend, result in our paying damages or entering into unfavorable licenses, have a negative effect on our business, operating results, and financial condition, or cause delays by requiring us to devote additional research and development resources to modify our platform.

***We license technology from third parties for the development of our products, and our inability to maintain those licenses could harm our business.***

We currently rely on or incorporate, and will in the future rely on or incorporate, technology that we license from third parties, including software and large language models, into our products. If we are unable to continue to use or license these technologies on reasonable terms, or if these technologies become unreliable, unavailable, or fail to operate properly, we may not be able to secure adequate alternatives in a timely or cost-effective manner, or at all, and our ability to offer our products and remain competitive in our market would be harmed. Further, licensing technologies from third parties exposes us to increased risk of being the subject of intellectual property infringement claims due to, among other things, our lower level of visibility into the development process with respect to such technology and the care taken to safeguard against infringement risks. We cannot be certain that our licensors do not or will not infringe on the intellectual property rights of third parties or that our licensors have or will have sufficient rights to the licensed intellectual property in all jurisdictions in which we may sell our platform. In addition, some of our third-party license agreements may be terminated by our licensors for convenience, or otherwise provide for a limited term. If we are unable to continue to license technology because of intellectual property infringement claims brought by third parties against our licensors or against us, or if we are unable to continue our license agreements or enter into new licenses on commercially reasonable terms, our ability to develop and sell products and services containing or dependent on that technology would be limited, and our business, including our operating results, financial condition, and cash flows could be harmed. Additionally, if we are unable to license technology from third parties, we may decide to acquire or develop alternative technology, which we may be unable to do in a commercially feasible manner, or at all, and may require us to use alternative technology of lower quality or performance standards. This could limit or delay our ability to offer new or competitive products and increase our costs. Third-party software we rely on may be updated infrequently, unsupported, or subject to vulnerabilities that may not be resolved in a timely manner, any of which may expose our products to vulnerabilities. Any impairment of the technologies of or our relationship with these third parties could harm our business, operating results, and financial condition.

**Risks related to legal and regulatory matters**

***Our business is subject to complex and evolving U.S. and foreign laws, regulations, and industry standards, many of which are subject to change and uncertain interpretations, which uncertainty could harm our business, operating results, and financial condition.***

We are subject to many U.S. and foreign federal, state, and local laws, regulations, and industry standards that involve matters central to our business, including laws and regulations that involve data privacy, data security, intellectual property, including copyright and patent laws, AI technologies, antitrust

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and competition, employment, labor, immigration, consumer protection, financial services, public health, workplace safety, and taxation. These laws and regulations are constantly evolving and may be interpreted, applied, created, or amended, in a manner that could harm our business.

Failure to comply with applicable laws and regulations could require us to incur significant compliance, research and development, and other costs, penalties, and fines; adversely impact our business reputation and customer relationships; and otherwise adversely affect or make impossible our ability to produce, market, and sell our products and services. Some of our products are required to be certified under applicable standards in certain jurisdictions, and failure to obtain or maintain those certifications would prevent or limit our ability to operate in those jurisdictions. For example, some of our customers use our products to comply with hours of service ("HOS") restrictions and obligations to record compliance with those HOS restrictions by using an electronic logging device ("ELD"). In the United States, to the extent our products and services function as ELDs, they are subject to regulation by the Federal Motor Carrier Safety Administration (the "FMCSA") which requires that ELD manufacturers register and self-certify that the ELDs they offer for sale have been sufficiently tested to meet certain functional requirements, which are subject to interpretation communicated through formal or informal guidance, or change through formal administrative rulemaking processes. For example, from time to time, we have received and expect to continue to receive inquiries from the FMCSA relating to the functionality of our self-certified ELD. These inquiries could put the self-certification of our ELD product at risk or require changes to our ELD functionality that could make our ELD product less desirable to existing and potential customers. Additionally, meeting existing functional requirements requires reading and interpreting diagnostic information from commercial motor vehicle engines employing communication protocols that differ across vehicle makes, models, and years and continue to evolve. Our ability to design, develop, and sell our products and services will continue to be subject to these rules and regulations, as well as many other federal, state, local, and foreign rules and regulations, for the foreseeable future. Further, applicable law in Canada similarly mandates that motor carriers and drivers subject to HOS requirements use ELDs that have been tested and certified by an accredited third-party certification body to comply with certain functional requirements subject to interpretation and potential change. While we have obtained and maintain certification for our current ELD products in Canada, failure to obtain certification for future ELD products, or to maintain the existing certifications for our certified ELD products, would prevent current and potential customers from using our ELD services for compliance purposes in Canada and could negatively impact the reputation and goodwill of our ELD offering in the United States. Furthermore, our solution may transmit radio frequency waves, the transmission of which is governed by the rules and regulations of the Federal Communications Commission, as well as other regulatory bodies.

The introduction of new products, such as our introduction of the Spend Management product, expansion of our activities in certain jurisdictions, or other actions that we take may subject us to additional laws, regulations, or other government scrutiny. As we expand internationally, we cannot guarantee that we will be able to comply with all relevant laws and regulations of every jurisdiction in which our platform can be accessed, including, but not limited to, with respect to the data privacy laws of various jurisdictions. We are subject to various laws and regulations, including the Telephone Consumer Protection Act and similar state and foreign laws, that impose specific requirements on communications, including requirements related to obtaining consent from recipients before sending certain communications, and provide for significant statutory damages and penalties for violations. In addition, we are also subject to specific obligations relating to information considered sensitive under applicable laws, such as financial data and biometric data. If we are found to be in violation of the laws, regulations, or standards of any of the jurisdictions where we make our platform available, we could face legal liability, fines, and costly investigations or regulatory processes, and we may decide to restrict access to our platform in such jurisdictions, which would harm our growth, revenue, and operating results. We have been, and may in the future be, subject to claims, lawsuits, and regulatory actions alleging violations of these laws.

In addition, we are subject to evolving laws, regulations, policies, and international accords relating to matters beyond our platform, products, and services, including, but not limited to, environmental sustainability, climate change, human capital, and employment matters. In particular, we face challenges inherent in effectively and efficiently managing a workforce across a large number of jurisdictions, many of

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which have differing labor law requirements, including the need to implement appropriate systems, policies, benefits, and compliance programs. Compliance with such laws, regulations, and policies may require significant investment and expense. Further, if we fail to implement the necessary programs, frameworks, and principles for compliance, our reputation, business, operating results, and financial condition may be adversely affected.

The costs of complying with these laws and regulations, which in some cases can be enforced by private parties in addition to government entities, are high and likely to increase in the future, particularly as the degree of regulation increases, our business grows, and our geographic scope expands. The impact of these laws and regulations may disproportionately affect our business in comparison to our peers in the technology sector that have greater resources. Any failure or perceived failure of compliance on our part to comply with the laws and regulations may subject us to significant liabilities or penalties, or otherwise adversely affect our business, operating results, and financial condition. Furthermore, it is possible that certain governments may seek to block or limit our platform or otherwise impose other restrictions that may affect the accessibility or usability of any or all of our platform for an extended period of time or indefinitely.

***We may need to obtain state or local licenses to expand the use cases for our Spend Management product, which could adversely affect our business, operating results, and financial condition.***

Certain states have adopted laws regulating and requiring licensing, registration, or other approval of, or submission of regulatory filings by, parties that engage in certain activity regarding commercial finance transactions, including lending and collections activities in connection with commercial charge card programs similar to Motive Cards. We are currently pursuing commercial lending licenses in certain states to support our Spend Management product, and we do not hold and are not currently pursuing debt collection licenses in any states. While we believe we have obtained, or are in the process of obtaining all necessary licenses, the application of some commercial financial services licensing laws to our business and the related activities we perform is unclear. In addition, state licensing requirements may evolve over time. It is possible that a regulator in states in which we do not hold licenses and are not pursuing licenses could determine that we are required to hold certain lending or debt collection licenses to carry out certain business activities in connection with our Motive Card offering. Obtaining additional licenses could be expensive and could impede our ability to operate in a state until a license is otherwise obtained.

If we were found to be in violation of applicable state licensing requirements by a court or a state, federal, or local enforcement agency, or agree to resolve such concerns by voluntary agreement, we could be subject to or agree to obtain additional licenses, pay fines, damages, injunctive relief (including required modification or discontinuation of our business in certain areas), criminal penalties, and other penalties or consequences, and the Motive Cards could be rendered void or unenforceable in whole or in part, any of which could have an adverse effect on the enforceability or collectability of receivables related to such cards.

***We are subject to governmental economic sanctions requirements and export and import controls that could impair our ability to compete in international markets or subject us to liability if we are not in compliance with applicable laws.***

Our platform and associated products are subject to various restrictions under U.S. and other jurisdictions' export control and sanctions laws and regulations, including the U.S. Department of Commerce's Export Administration Regulations and various economic and trade sanctions regulations administered by OFAC. These U.S. export control and economic sanctions laws include restrictions or prohibitions on the sale or supply of certain products and services to U.S.-embargoed or sanctioned countries, governments, persons, and entities and require authorization for the export of certain encryption items. In addition, various countries regulate the import of certain encryption technology, including through import permitting and licensing requirements, and have enacted or could enact export control, economic and trade sanctions, or import laws that could limit our ability to distribute our platform or subject us to liability.

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Although we take precautions to prevent our platform and associated products and services from being accessed or used in violation of such laws, we can provide no assurances that such precautions will prevent violations in the future. If we are found to be in violation of U.S. economic sanctions, it could result in substantial fines and penalties for us and for individuals working for us. We may also be adversely affected through other penalties, reputational harm, loss of access to certain markets, or otherwise.

Changes in our platform or future changes in export and import regulations may create delays in the introduction of our platform in international markets or prevent our customers with international operations from deploying our platform globally. Any change in export or import regulations, economic sanctions or related legislation, or change in the countries, governments, persons, or technologies targeted by such regulations, could result in decreased use of our platform by, or in our decreased ability to export our technology and services to, existing or potential customers with international operations. Any decreased use of our platform or limitation on our ability to export our platform would adversely affect our business, operating results, and financial condition.

***We are subject to anti-bribery, anti-corruption, and similar laws and non-compliance with such laws can subject us to criminal penalties or significant fines and harm our business and reputation.***

We are subject to anti-bribery and similar laws, such as the FCPA, the U.S. domestic bribery statute contained in 18 U.S.C. § 201, the USA PATRIOT Act, U.S. Travel Act, the U.K. Bribery Act 2010, and Proceeds of Crime Act 2002, and other anti-corruption, anti-bribery, and anti-money laundering laws in countries in which we conduct activities. Anti-corruption laws are interpreted broadly and prohibit companies and their employees and their agents from directly or indirectly making or offering improper payments or other benefits to government officials and others in the private sector. The FCPA and other applicable anti-corruption laws may also hold us liable for acts of corruption or bribery committed by our third-party business partners, representatives, and agents, even if we do not authorize such activities. As we continue to develop our international sales and business, and increase our use of third parties, our risks under these laws will increase. As a public company, the FCPA will separately require that we keep accurate books and records and maintain internal accounting controls sufficient to assure management's control, authority, and responsibility over our assets.

We have adopted policies and procedures and conducted training designed to prevent improper payments and other corrupt practices prohibited by applicable laws, but cannot guarantee that improprieties will not occur. Noncompliance with these laws could subject us to investigations, sanctions, settlements, prosecution, other enforcement actions, disgorgement of profits, significant fines, damages, other civil and criminal penalties or injunctions, suspension and/or debarment from contracting with specified persons, the loss of export privileges, reputational harm, adverse media coverage, and other collateral consequences. Any investigations, actions, and/or sanctions could harm our reputation, business, operating results, and financial condition.

***Compliance with ever evolving U.S. federal, state, and foreign laws relating to the handling of information about individuals involves significant expenditure and resources and if we fail to adequately protect personal data or other information we collect, process, share, or maintain under applicable laws, our business, operating results, and financial condition could be adversely affected.***

We receive, store, and process some personal data from our employees, customers, and the employees of our customers and third-party vendors. Additionally, customers use our platform to create and store their proprietary and confidential data. A wide variety of state, national, and international laws, as well as regulations and industry standards apply to the collection, use, retention, protection, disclosure, transfer, and other processing of personal information and other data, the scope of which is changing, subject to differing interpretations, and may be inconsistent across countries or conflict with other rules. Data protection and privacy-related laws and regulations are evolving and may result in increasing regulatory and public scrutiny and escalating levels of enforcement and sanctions. Failure or perceived failure to

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comply with U.S. or international laws, regulations, and industry standards regarding personal data or other information could adversely affect our business, operating results, and financial condition. Moreover, compliance with these various laws and regulations often results in substantial costs or requires changes to our business practices, systems, and compliance procedures in a manner adverse to our business.

In the United States, there are numerous federal and state consumer, privacy, and data security laws and regulations governing the collection, use, disclosure, and protection of personal data, including security breach notification laws and consumer protection laws. Each of these laws is subject to varying interpretations and constantly evolving. Additionally, the Federal Trade Commission and many state attorneys general interpret federal and state consumer protection laws to impose standards on the collection, use, dissemination, and security of data. On the state level, the California Consumer Privacy Act of 2018 (as amended, the "CCPA") created new data privacy obligations for covered businesses and provided new privacy rights to California residents, including the right to opt out of certain disclosures of their information and receive detailed information about how their personal data is used. The CCPA provides for civil penalties for violations, as well as a private right of action for certain data breaches that has increased data breach litigation. Other states have pending consumer privacy legislation under review, which if enacted, would add additional costs and expense of resources to maintain compliance.

We are subject to the GDPR, which governs the collection, use, disclosure, transfer, or other processing of personal data of natural persons located in the EEA and the United Kingdom, and it applies extra-territorially and imposes onerous requirements on controllers and processors of personal data, including, for example, accountability and transparency requirements, obligations to consider data protection as any new products or services are developed and to limit the amount of personal data processed, and obligations to comply with data protection rights of data subjects. We face increased compliance obligations and risk, including more robust regulatory enforcement of data protection requirements and potential fines for noncompliance of up to €20 million (£17.5 million in the United Kingdom) or four percent of the annual global revenues of the noncompliant company, whichever is greater. A breach of the GDPR may also result in regulatory investigations, orders to cease or change our data processing activities, enforcement notices, assessment notices for a compulsory audit and we may also face civil claims including representative actions and other class action type litigation (where individuals have suffered harm), potentially amounting to significant compensation or damages liabilities, as well as associated costs, diversion of internal resources, and reputational harm.

The GDPR prohibits transfers of personal data from the EEA or the United Kingdom to countries not formally deemed adequate by the European Commission or the U.K. Information Commission Office, respectively, including the United States, unless a particular compliance mechanism and, if necessary, certain safeguards, are implemented. The mechanisms that we and many other companies, including our customers, rely upon for European and U.K. data transfers out of the EEA and the United Kingdom are the European Commission Standard Contractual Clauses ("SCCs"), the U.K. Information Commissioner's Office's Addendum to the SCCs, the EU-US Data Privacy Framework ("EU-US DPF"), and the U.K. Extension to the EU-US DPF. We also have the Swiss-US Data Privacy Framework in place to legitimize transfers of personal data from Switzerland to the United States. All of these transfer mechanisms are the subject of legal challenge, regulatory interpretation, and judicial decisions by the Court of Justice of the European Union. In particular, we expect the European Commission's approval of the current EU-US DPF to be challenged, and expect international transfers to the United States and to other jurisdictions more generally to continue to be subject to enhanced scrutiny by regulators. Some countries are also considering or have passed legislation requiring local storage and processing of data, or similar requirements, which could increase the cost and complexity of delivering our products and services if we were to operate in those countries. If we are required to implement additional measures to transfer data around the world, our compliance costs would increase, and could adversely affect our business, operating results, and financial condition.

We may be subject to data privacy laws and similar laws in a number of other jurisdictions where our platform is available, including requirements that may require us to process or store customer data in certain jurisdictions or otherwise restrict our ability to serve customers in certain markets. In the event that

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we are alleged or determined to be not in compliance with local data privacy laws of any other jurisdiction where we make our platform available, including with respect to the data localization, cross-border transfer, or residency requirements, we may decide to make modifications to our platform, products, and services, increase costs, or cease operating in that jurisdiction, which would negatively impact our business, operating results, and financial condition, and may subject us to claims, investigations, regulatory processes, and penalties.

We depend on a number of third parties in relation to the operation of our business, a number of which process personal data on our behalf or as our sub-processor. To the extent required by applicable law, we attempt to mitigate the associated risks of using third parties by performing security assessments and detailed due diligence, entering into contractual arrangements to ensure that providers only process personal data according to our instructions or to the instructions of our customers, and ensuring that they have sufficient technical and organizational security measures in place. There is no assurance that these contractual measures and our own privacy and security-related safeguards will protect us from the risks associated with the third-party processing, storage, and transmission of personal data. Any material violation of privacy, data protection, data, or cybersecurity laws by our third-party processors would likely have an adverse effect on our business and result in significant fines and penalties.

Our compliance efforts are further complicated by the fact that data privacy and security laws, rules, regulations, and standards around the world are rapidly evolving, may be subject to uncertain or inconsistent interpretations and enforcement, and may conflict among various jurisdictions. Any failure or perceived failure by us to comply with our privacy policies, or applicable U.S. and international data privacy and security laws, rules, regulations, standards, certifications, or contractual obligations, or any compromise of security that results in unauthorized access to, or unauthorized loss, destruction, use, modification, acquisition, disclosure, release, or transfer of personal data, may result in requirements to modify or cease certain operations or practices, the expenditure of substantial costs, time, and other resources, proceedings or actions against us, legal liability, governmental investigations, enforcement actions, claims, fines, judgments, awards, penalties, sanctions, and costly litigation, including class actions. Any of the foregoing could harm our reputation, distract our management and technical personnel, increase our costs of doing business, adversely affect the demand for our products and services, and ultimately result in the imposition of liability, any of which could have an adverse effect on our business, operating results, and financial condition.

***We are subject to payments and other financial services-related regulations and oversight in connection with our Spend Management product and any failure by us to comply with such regulations and oversight could materially harm our business, operating results, and financial condition.***

We are directly and indirectly subject to local, state, and federal laws, rules, regulations, licensing and other authorization schemes, including card network schemes, and industry standards in connection with our Spend Management product, which include, or may in the future include, those relating to banking, invoicing, cross-border and domestic money transmission, foreign exchange, payments services (such as payment processing and settlement services), lending, brokering, servicing, debt collection, anti-money laundering, counter-terror financing, escheatment, U.S. and international sanctions regimes, and compliance with the PCI Data Security Standard, a set of requirements designed to ensure that all companies that process, store, or transmit payment card information maintain a secure environment to protect cardholder data.

Specifically, in connection with our Spend Management product, we, or our card issuing partner, may be subject to a host of federal and state laws and regulations, including but not limited to:

• state laws and regulations that are not subject to federal preemption that impose requirements related to, among other issues, interest rates, fees, credit disclosures, data privacy, credit discrimination, credit reporting, credit brokering and solicitation, credit servicing and debt collection, and unfair or deceptive acts and practices;

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• state licensing and registration requirements, notwithstanding the fact that our corporate charge cards do not impose interest, to the extent Motive is considered to be "lending" or "engaged in the business of lending," as defined or interpreted by a specific state or under a specific statute. For example, the solicitation and advertising of credit products or the servicing and collection of charge card receivables, is subject to licensing under state laws specifically regulating such activities separate from, or in addition to, the broader "business of lending," or otherwise triggering licensing under state laws;

• federal and state fair lending and anti-discrimination laws to the extent that such laws apply to commercial credit transactions;

• state debt collection laws to the extent that such laws apply to first-party collection of commercial debts;

• Section 5 of the Federal Trade Commission Act, which prohibits unfair and deceptive acts or practices in or affecting commerce, including those related to financial products or services; and provisions of the Dodd-Frank Act prohibiting unfair, deceptive, and abusive acts or practices, specifically related to the provision of financial products or services; and

• the Bank Secrecy Act ("BSA") and its implementing regulations that require covered financial institutions, which include our card issuing partner, to assist the government with the detection and prevention of money laundering and terrorist financing through the U.S. financial system. The BSA requires covered financial institutions to keep records and file suspicious activity and other types of reports that may assist the U.S. in detecting and investigating money-laundering and terrorist financing crime.

These laws, rules, regulations, licensing and other authorization schemes, and industry standards are administered and enforced by multiple authorities and governing bodies in the United States, including but not limited to the U.S. Department of the Treasury, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, OFAC, the Financial Crimes Enforcement Network, state banking departments, self-regulatory organizations, and numerous state and local governmental and regulatory authorities.

Due to our bank partnerships, we are subject to third-party risk management guidance issued by the CFPB and prudential banking regulators. Banking regulators, including the Office of the Comptroller of the Currency, have imposed requirements on regulated financial institutions to manage their third-party service providers. Among other things, these requirements include performing appropriate due diligence when selecting third-party service providers; evaluating the risk management, information security, and information management systems of third-party service providers; imposing contractual protections in agreements with third-party service providers (such as performance measures, audit and remediation rights, indemnification, compliance requirements, confidentiality and information security obligations, insurance requirements, and limits on liability); and conducting ongoing monitoring of the performance of third-party service providers. Our relationships with such third-party service providers, as well as our partnerships with certain banks, require accommodating these requirements and therefore impose additional costs and risks on us in connection with such relationships. We expect to expend significant resources on an ongoing basis in an effort to meet our compliance obligations.

There can be no assurance that we meet, or we will be able to meet, all compliance obligations under applicable law, including obtaining lending licenses or other licenses in all of the jurisdictions in which we offer our Spend Management product. Even if we were able to do so, there could be substantial costs and potential product changes involved in complying with such laws, which could have a material and adverse effect on our business, financial condition, and results of operations. Any failure or perceived failure to comply with existing or new laws and regulations, or orders of any governmental authority, including changes to or expansion of their interpretations, may subject us to significant fines, penalties, criminal and civil lawsuits, forfeiture of significant assets, enforcement actions in one or more jurisdictions, may result in additional compliance and licensure requirements, and may increase regulatory scrutiny of our

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business. For example, if a state regulator were to determine that, in connection with our Motive Cards, we have engaged in regulated lending activities without the necessary license, we could be subject to fines and penalties, and we could be required to obtain additional licenses or approvals, any of which could result in significant costs and changes to our business. While we are not currently subject to regulatory investigations or other proceedings with respect to our Spend Management product, we may receive inquiries related to this offering in the future, and we could become subject to further investigation if a regulator believes we have not complied with applicable laws. Further, if any of our current or future product offerings become subject to additional payment- or financial service-related laws or regulations in the future, our compliance costs could increase, and we may be forced to restrict or change our operations or business practices, make product changes, or delay planned product launches or improvements. Many of these laws and regulations are evolving, unclear, and inconsistent across various jurisdictions, and ensuring compliance with them is difficult and costly. With increasing frequency, federal and state regulators are holding businesses in the payments industry to higher standards of training, monitoring, and compliance, including monitoring for possible violations of laws by our customers and people who do business with our customers while using our products. If we fail to comply with laws and regulations applicable to our business in a timely and appropriate manner, we may be subject to litigation or regulatory proceedings, we may have to pay fines and penalties, and our customer relationships and reputation may be adversely affected, which could have a material adverse effect on our business, operating results, and financial condition. Any of the foregoing could materially adversely affect our brand, reputation, business, operating results, and financial condition.

***Our failure to comply with the requirements of applicable environmental legislation and regulation could have a material adverse effect on our revenue and profitability.***

Production, marketing, and selling of our platform in certain jurisdictions may subject us to environmental regulations, requiring registration, reporting, labeling, disclosure, appropriate disposal of, or limiting or eliminating the use of certain substances or components in our devices or packaging. In addition, certain states and countries may pass new regulations requiring our solution to meet certain requirements to use environmentally-friendly components in our products and packaging. For example, the European Union has issued directives relating to chemical substances in electronic products. One directive is the Waste Electrical and Electronic Equipment Directive, which makes producers of certain electrical and electronic equipment financially responsible for the collection, reuse, recycling, treatment, and disposal of equipment placed in the E.U. market. Another directive is the Restriction of Hazardous Substances Directive, which bans the use of certain hazardous materials in electrical and electronic equipment which are put on the market in the European Union. In the future, various countries, including the United States or state or local governments, may adopt further environmental compliance programs and requirements. If we fail to comply with these regulations in connection with our devices, we may face regulatory fines and other penalties, and may not be able to sell our devices in jurisdictions where these regulations apply, which could have a material adverse effect on our revenue and profitability.

***Regulations related to conflict minerals may cause us to incur additional expenses and could limit the supply and increase the costs of certain metals used in the manufacturing of our products.***

We are subject to requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 regulations that require us to conduct due diligence on and disclose whether our products contain conflict minerals as defined under these provisions. The implementation of these requirements could adversely affect the sourcing, availability, and pricing of the materials used in the manufacture of components used in our devices. In addition, we incur additional costs to comply with the disclosure requirements, including costs related to conducting reasonable diligence procedures to determine the sources of minerals that may be used in or necessary for the production of our devices and, if applicable, potential changes to devices, processes, or sources of supply as a consequence of such due diligence activities. It is also possible that we may face reputational harm or negative customer sentiment for not determining or asserting that each of our devices contain only conflict-free minerals or if we are unable to alter our devices, processes, or sources of supply to avoid materials not determined to be conflict-free.

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***We are currently in, and may in the future, become involved in litigation that may adversely affect us.***

From time to time, we are subject to claims, suits and other legal proceedings. For example, we are currently the subject of intellectual property, breach of contract, privacy, and consumer protection law litigation. For additional information regarding these litigation matters, see the section titled "Business—Legal proceedings." Regardless of the outcome, legal proceedings can have an adverse impact on us because of legal costs and diversion of management's attention and resources, and could cause us to incur significant expenses or liability, adversely affect our brand recognition or require us to change our business practices. The expense of litigation and the timing of this expense from period to period are difficult to estimate, subject to change and could adversely affect our business, operating results, and financial condition. It is possible that a resolution of one or more such proceedings could result in substantial damages, settlement costs, fines, and penalties that would adversely affect our business, operating results, or financial condition in a particular period. These proceedings could also result in reputational harm, sanctions, consent decrees, or orders requiring a change in our business practices. Because of the potential risks, expenses, and uncertainties of litigation, we may, from time to time, settle disputes, even where we have meritorious claims or defenses, by agreeing to settlement agreements. Because litigation is inherently unpredictable, we cannot assure you that the results of any of these actions will not have a material adverse effect on our business, operating results, and financial condition. Further, any of these consequences could adversely affect our business, operating results, and financial condition.

***We could be subject to securities class action litigation.***

In the past, securities class action litigation has often been instituted against companies following periods of volatility in the market price of a company's securities. This type of litigation, if instituted, could result in substantial costs and a diversion of management's attention and resources, which could adversely affect our business, operating results, or financial condition. Additionally, the dramatic increase in the cost of directors' and officers' liability insurance may cause us to opt for lower overall policy limits and coverage or to forgo insurance that we may otherwise rely on to cover significant defense costs, settlements, and damages awarded to plaintiffs, or incur substantially higher costs to maintain the same or similar coverage. These factors could make it more difficult for us to attract and retain qualified executive officers and members of our board of directors.

***We expect operating as a public company to result in a significant diversion of management's time and attention from operating our business and to result in significantly increased costs.***

As a public company, we will incur significant legal, accounting, compliance, and other expenses that we did not incur as a private company. Such additional compliance costs will continue to increase our legal, accounting, and financial compliance costs, make certain activities more difficult, time-consuming, and costly, and place significant strain on our management, personnel, systems, and resources. For example, in anticipation of becoming a public company, we will need to adopt additional internal controls and disclosure controls and procedures, retain a transfer agent, and adopt an insider trading policy. As a public company, we will bear all of the internal and external costs of preparing and distributing periodic public reports in compliance with our obligations under the securities laws.

In addition, regulations and standards relating to corporate governance and public disclosure, including the Exchange Act, Sarbanes-Oxley Act, and rules and regulations implemented by the SEC have increased legal and financial compliance costs and will make some compliance activities more time-consuming. We intend to invest resources to comply with evolving laws, regulations, and standards, and this investment will result in increased general and administrative expenses and may divert management's time and attention from our other business activities. If our efforts to comply with new laws, regulations, and standards differ from the activities intended by regulatory or governing bodies due to ambiguities related to practice, regulatory authorities may initiate legal proceedings against us, and our business may be harmed. In connection with this offering, we intend to increase our directors' and officers' insurance coverage, which will increase our insurance costs. In the future, it may be more expensive or

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more difficult for us to obtain director and officer liability insurance, and we may be required to accept reduced coverage or incur substantially higher costs to obtain and maintain the same or similar coverage. These factors would also make it more difficult for us to attract and retain qualified members of our board of directors, particularly to serve on our audit committee and compensation committee, and qualified executive officers.

***Investors' expectations of our performance relating to environmental, social, and governance factors may impose additional costs and expose us to new risks.***

There is an increasing focus from certain regulators, investors, employees, users, and other stakeholders concerning corporate responsibility, specifically related to environmental, social, and governance ("ESG") matters both in the United States and internationally. Some investors may use these non-financial performance factors to guide their investment strategies and, in some cases, may choose not to invest in us if they believe our policies and actions relating to corporate responsibility are inadequate. Further, there is particular focus on concerns relating to AI and its impact on the environment, including the power-intensive nature of the industry, high consumption of water, and reliance on critical minerals and rare elements, and we are focused on sustainability goals and initiatives to mitigate the environmental impacts of our operations. We may experience heightened scrutiny from our stakeholders and potential investors around these issues. We may also face reputational damage in the event that we do not meet the ESG standards set by various constituencies or fail, or are perceived to fail, in our achievement of our sustainability goals, initiatives, or commitments.

Our sustainability initiatives, goals, or commitments could be difficult to achieve or costly to implement. Moreover, compliance with recently adopted and potential upcoming ESG requirements, including California legislation that requires various climate-related disclosures, the European Union's Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive, and the United Kingdom's Streamlined Energy and Carbon Reporting framework will require the dedication of significant time and resources. In addition, we may also be required to comply with the SEC's comprehensive climate change disclosure rules, which have been stayed pending judicial review. Additionally, if our competitors' corporate social responsibility performance is perceived to be better than ours, potential, or current investors may elect to invest with our competitors instead. Our business may face increased scrutiny related to these activities and our related disclosures, including from the investment community, and our failure to achieve progress or manage the dynamic public sentiment and legal landscape in these areas on a timely basis, or at all, could adversely affect our reputation, business, and financial performance.

**Risks related to financial, accounting and tax matters**

***Our international operations subject us to potentially adverse tax consequences.***

We are expanding our international operations to better support our growth into international markets. Significant judgment is required in evaluating our tax positions and our worldwide provision for income taxes. Our existing corporate structure has been implemented in a manner that we believe is in compliance with current prevailing tax laws. Moreover, changes to our corporate structure, including increased headcount and expanded functions outside of the United States, could impact our worldwide effective tax rate and adversely affect our operating results and financial condition. Our intercompany relationships are subject to complex transfer pricing regulations administered by taxing authorities in various jurisdictions. The relevant taxing authorities may disagree with our determinations as to the value of assets sold or acquired or income and expenses attributable to specific jurisdictions. If such a disagreement were to occur, and our position were not sustained, we could be required to pay additional taxes, interest, and penalties, which could result in one-time tax charges, higher effective tax rates, reduced cash flows, and lower overall profitability of our operations.

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***If we fail to maintain an effective system of internal controls, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.***

As a public company, we will be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Sarbanes-Oxley Act, and the rules and regulations of the applicable listing standards of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . The Sarbanes-Oxley Act requires, among other things, that we maintain effective disclosure controls and procedures, and internal control, over financial reporting. We are continuing to develop and refine our disclosure controls, internal control over financial reporting, and other procedures that are designed to ensure information required to be disclosed by us in our financial statements and in the reports that we will file with the U.S. Securities and Exchange Commission (the "SEC") is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms, and information required to be disclosed in reports under the Exchange Act is accumulated and communicated to our principal executive and financial officers. In order to maintain and improve the effectiveness of our internal controls and procedures, we have expended, and anticipate that we will continue to expend, significant resources, including accounting-related costs and significant management oversight.

Our current controls and any new controls we develop may become inadequate because of changes in conditions in our business. Further, weaknesses in our internal controls may be discovered in the future. Any failure to develop or maintain effective controls, or any difficulties encountered in their implementation or improvement, could harm our operating results, cause us to fail to meet our reporting obligations and may result in a restatement of our financial statements for prior periods. Any failure to develop or maintain effective controls over financial reporting could adversely affect the results of periodic management evaluations and annual independent registered public accounting firm attestation reports regarding the effectiveness of our internal control over financial reporting that we will be required to include in the periodic reports we will file with the SEC. Ineffective disclosure controls and procedures and internal control over financial reporting could also cause investors to lose confidence in our reported financial and other information, which would likely have a negative effect on the trading price of our Class A common stock.

Our independent registered public accounting firm will be required to formally attest to the effectiveness of our internal control over financial reporting with our annual report on Form 10-K following the loss of our "emerging growth company" status. We expect to incur significant expenses and devote substantial management effort toward ensuring compliance with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act. As a result of the complexity involved in complying with the rules and regulations applicable to public companies, our management's attention may be diverted from other business concerns, which could harm our business, operating results, and financial condition. We have hired and expect to continue to hire additional employees to assist us in complying with these requirements, and we may also engage outside consultants, either of which will increase our operating expenses.

***If our estimates or judgments relating to our critical accounting policies prove to be incorrect or financial reporting standards or interpretations change, our operating results could be adversely affected.***

The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and accompanying notes. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, as discussed in the section titled "Management's discussion and analysis of financial condition and results of operations." The results of these estimates form the basis for making judgments about the carrying values of assets, liabilities, equity, stock-based compensation, the fair value of our Class A common stock, and the amount of revenue and expenses that are not readily apparent from other sources. Significant assumptions and estimates used in preparing our consolidated financial statements include, but are not limited to, those related to, revenue recognition, stock-based compensation, common stock

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valuation, the estimation of the fair value of market-based awards and income taxes. Our operating results may be adversely affected if our assumptions change or if actual circumstances differ from those in our assumptions, which could cause our operating results to fall below the expectations of industry or financial analysts and investors, potentially resulting in a decline in the market price of our Class A common stock.

Additionally, we regularly monitor our compliance with applicable financial reporting standards and review new pronouncements and drafts thereof that are relevant to us. As a result of new standards, changes to existing standards, and changes in their interpretation, we might be required to change our accounting policies, alter our operational policies, and implement new or enhance existing systems so that they reflect new or amended financial reporting standards, or we may be required to restate our published financial statements. Such changes to existing standards or changes in their interpretation may have an adverse effect on our reputation, business, financial condition, and profitability, or cause an adverse deviation from our revenue and operating profit target, which may adversely affect our financial condition.

***The Credit Agreement and the Convertible Securities contain restrictive and financial covenants that may limit our operational flexibility. If we fail to meet our obligations under the Credit Agreement and Convertible Securities, our operations may be interrupted and our business, operating results, and financial condition could be adversely affected.***

As of December 31, 2024, we had $250.0 million in outstanding principal indebtedness under a credit agreement between us, Alter Domus (US) LLC, as administrative agent, and the lenders party thereto (as amended, the "Credit Agreement") and $100.0 million of outstanding amended and restated convertible securities (the "2019 Convertible Notes"). Further, in May and July 2025, we issued an aggregate amount of $150.0 million of outstanding convertible securities (the "2025 Convertible Securities," and, together with the 2019 Convertible Securities, the "Convertible Securities"). The Credit Agreement contains financial covenants requiring, among other things, a specified minimum liquidity threshold and loan to annual recurring revenue ratio. Each of the Credit Agreement and Convertible Securities also contain customary affirmative and negative covenants, including restrictions on indebtedness, liens, dividends, distributions, investments, asset dispositions, and affiliate transactions, each subject to customary exceptions and baskets, and customary events of default. The obligations under the Credit Agreement are secured by liens on substantially all of our assets. For additional information, see the section titled "Management's discussion and analysis of financial condition and results of operations—Liquidity and capital resources."

Various risks, uncertainties, and events beyond our control could affect our ability to comply with these covenants. Failure to comply with any of the covenants could result in a default under the Credit Agreement and/or Convertible Securities. Such a default could permit the lenders under the Credit Agreement and the investors under our Convertible Securities to accelerate the maturity of outstanding amounts under the Credit Agreement and Convertible Securities, as applicable, which in turn could result in material adverse consequences that negatively impact our cash flows, the market price for our Class A common stock, and our ability to obtain other financing in the future, as well as our business, operating results, and financial condition. In addition, our outstanding indebtedness' covenants, consent requirements, and other provisions may limit our flexibility to pursue or fund strategic initiatives or acquisitions that might be in the long-term interests of us and stockholders.

***We may require additional capital to fund our business and support our growth, and any inability to generate or obtain such capital may adversely affect our business, operating results, and financial condition.***

In order to support our growth and respond to business challenges, such as developing new features or enhancements to our platform to stay competitive, acquiring new technologies, and improving our infrastructure, we have made significant financial investments in our business and we intend to continue to make such investments. As a result, we may need to engage in additional equity or debt financings to provide the funds required for these investments and other business endeavors. Our ability to engage in additional equity or debt financings is limited by certain restrictions contained in the Credit Agreement and

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Convertible Securities. If we raise additional funds through equity or convertible debt issuances, our existing stockholders may suffer significant dilution and these securities could have rights, preferences, or privileges that are superior to those of holders of our Class A common stock. We expect that our existing cash, cash equivalents, and marketable securities will be sufficient to meet our anticipated cash needs for working capital and capital expenditures for at least the next twelve months. If we obtain additional funds through debt financing, we may not be able to obtain such financing on terms favorable to us. Our ability to raise capital in the future may be impacted by global macroeconomic conditions, which may make it difficult to raise additional capital on favorable terms, if at all. Such terms may involve restrictive covenants making it difficult to engage in capital raising activities and pursue business opportunities, including potential acquisitions. Furthermore, we have authorized the issuance of undesignated preferred stock that our board of directors could use to, among other things, implement a stockholder rights plan or issue other shares of preferred stock or common stock. If we issue additional equity securities, stockholders will experience dilution, and the new equity securities could have rights senior to those of our currently authorized and issued common stock. The trading prices of the common stock of technology companies have been highly volatile in recent years as a result of inflation, interest rate volatility, actual or perceived instability in the banking system, geopolitical conflicts, and market downturns, which may reduce our ability to access capital on favorable terms or at all. In addition, a recession, depression, or other sustained adverse market event could adversely affect our business and the value of our Class A common stock. If we are unable to obtain adequate financing or financing on terms satisfactory to us when we require it, our ability to continue to support our business growth and to respond to business challenges could be significantly impaired and our business may be adversely affected, requiring us to delay, reduce, or eliminate some or all of our operations.

***Inflation may adversely affect our business, operating results, and financial condition.***

Recently, inflation has increased throughout the U.S. economy. The existence of inflation in the economy has resulted in, and may continue to result in, higher interest rates and capital costs, increased costs of labor, weakening exchange rates, and other similar effects. Inflation can adversely affect us by increasing our costs and decreasing discretionary spending by our customers. Inflation also tends to have a negative impact on unemployment rates, interest rates, wages, fuel prices, and tax laws, which may adversely impact our operating results. While we do not believe that inflation has had a material impact on our financial condition or results of operations to date, we have experienced, and continue to experience, increases in the prices of labor and other costs of doing business. To the extent we take measures to mitigate the impact of inflation, these measures may not be effective and our business, operating results, and financial condition could be adversely affected.

***We are exposed to fluctuations in currency exchange rates, which may be exacerbated in the future and could negatively affect our business, operating results, and financial condition.***

Our sales are currently denominated in U.S. dollars, Mexico pesos, euros, British pounds, and Canadian dollars and will likely be denominated in other currencies in the future. Because we report our operating results and revenue in U.S. dollars, we currently face exposure to foreign currency exchange risk and may in the future face other foreign currency risks. We do not currently hedge against the risks associated with foreign currency fluctuations. If we are not able to successfully hedge against the risks associated with currency fluctuations, our operating results could be adversely affected. Further, to the extent that our customer agreements with our customers outside of the United States are denominated in U.S. dollars, strengthening of the U.S. dollar increases the real cost of our platform to our customers outside of the United States, which could lead to delays in the purchase of our platform and the lengthening of our sales cycle. If the U.S. dollar continues to strengthen, this could adversely affect our business, operating results, and financial condition. Conversely, if the U.S. dollar weakens relative to the foreign currencies in the jurisdictions in which we have operations, our cost of revenue and operating expenses will increase, which would have an adverse impact on our operating results. In addition, increased international sales in the future, including through continued international expansion and our partners could result in foreign currency denominated sales, which would increase our foreign currency risk.

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Our operating expenses incurred outside the United States and denominated in foreign currencies are increasing and are subject to fluctuations due to changes in foreign currency exchange rates. These expenses are denominated in foreign currencies and are subject to fluctuations due to changes in foreign currency exchange rates. We do not currently hedge against the risks associated with currency fluctuations but may do so, or use other derivative instruments, in the future.

***We could be subject to additional tax liabilities and U.S. federal and global income tax reform could adversely affect us.***

We are subject to federal, state, and local income taxes, sales, and other taxes in the United States and income taxes, withholding taxes, transaction taxes, and other taxes in numerous foreign jurisdictions. Our existing corporate structure has been implemented in a manner that we believe is in compliance with current prevailing tax laws. Moreover, changes to our corporate structure, including increased headcount and expanded functions outside of the United States, could impact our worldwide effective tax rate and adversely affect our operating results and financial condition. Significant judgment is required in evaluating our tax positions and our worldwide provision for income taxes. During the ordinary course of business, there are many activities and transactions for which the ultimate tax determination is uncertain. The relevant taxing authorities may disagree with our determinations as to the income and expenses attributable to specific jurisdictions. If such a disagreement were to occur, and our position were not sustained, we could be required to pay additional taxes, interest, and penalties, which could result in one-time tax charges, higher effective tax rates, reduced cash flows, and lower overall profitability of our business, with some changes possibly affecting our tax obligations in future or past years. In addition, our future income tax obligations could be adversely affected by changes in, or interpretations of, tax laws in the United States or in other jurisdictions in which we operate.

For example, the U.S. tax legislation commonly referred to as the Tax Cuts and Jobs Act of 2017 (the "TCJA") significantly reformed the Internal Revenue Code of 1986, as amended (the "Code"), reducing U.S. federal tax rates, making sweeping changes to rules governing international business operations, and imposing significant additional limitations on tax benefits, including the deductibility of interest and the use of net operating loss ("NOL") carryforwards, and the One Big Beautiful Bill Act of 2025 further reformed the Code, including by permanently extending certain provisions within the TCJA and restoring the deductibility of domestic research and development expenditures in the year incurred for tax years beginning after 2024. In addition, as part of the Organization for Economic Cooperation and Development's ("OECD") Inclusive Framework on Base Erosion and Profit Shifting, 147 jurisdictions have joined a two-pillar plan to reform international taxation rules. The first pillar is focused on the allocation of taxing rights between countries for in-scope multinational enterprises that sell goods and services into countries with little or no local physical presence and is intended to apply to multinational enterprises with global revenues above €20 billion. The second pillar is focused on developing a global minimum tax rate of at least 15% applicable to in-scope multinational enterprises and is intended to apply to multinational enterprises with annual consolidated group revenue in excess of €750 million. We are still evaluating the impact of the OECD pillar one and pillar two rules as they continue to be refined by the OECD and implemented by various national governments. However, it is possible that the OECD pillar one and pillar two rules, as implemented by various national governments, could adversely affect our effective tax rate or result in higher cash tax liabilities.

Due to the expanding scale of our international business activities, these types of changes to the taxation of our activities could impact the tax treatment of our foreign earnings, increase our worldwide effective tax rate, increase the amount of taxes imposed on our business, and harm our financial condition. Such changes may also apply retroactively to our historical operations and result in taxes greater than the amounts estimated and recorded in our financial statements.

***Our ability to use our NOL carryforwards and certain other tax attributes may be limited.***

As of December 31, 2024, we had aggregate U.S. federal and state net operating loss carryforwards ("NOLs") of $434.8 million and $350.4 million, respectively, which may be available to offset future taxable income for U.S. income tax purposes. Under the TCJA, U.S. federal NOLs we generated in tax years

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beginning before January 1, 2018 may be carried forward up to twenty taxable years, and U.S. federal NOLs generated in taxable years beginning after December 31, 2017 may be carried forward indefinitely but may only be used to offset 80% of our taxable income in any taxable year (before taking into account certain deductions). If not utilized, our California and other state NOL carryforwards will begin to expire in 2033 and 2025, respectively. As of December 31, 2024, we had federal research and development credit carryforwards of $17.2 million, $0.4 million of Canada research and development credit carryforwards, and $10.3 million of U.S. state research and development credit carryforwards. If not utilized, these credit carryforwards will begin to expire in 2033. Realization of these NOL and research and development credit carryforwards depends on our future taxable income, and there is a risk that certain of our existing carryforwards could expire unused and be unavailable to offset future income tax liabilities, which could adversely affect our operating results and financial condition.

In addition, corporations that undergo an "ownership change" (generally defined as a greater than 50-percentage-point cumulative change (by value) in the equity ownership of certain stockholders over a rolling three-year period) are subject to limitations under sections 382 and 383 of the Code on the use of their NOLs and other tax attributes (including tax credit carryforwards) to offset future taxable income and tax liability. We have experienced ownership changes in the second quarter of 2015 and the second quarter of 2019 which resulted in annual limitations for NOLs and other tax attributes (including tax credit carryforwards) generated prior to each of these dates. In addition, we may undergo additional ownership changes in the future, either as a result of the offering or other changes in our stock ownership some of which may be outside of our control. Further, there are periods in which certain states suspend our ability to use our NOLs. As a result of these limitations, even if we attain profitability, we may not be able to utilize our NOLs carryforwards and other tax attributes to reduce our taxable income and reduce our tax liabilities.

***We could be required to collect additional sales, use, value added, digital services, or other similar taxes or be subject to other liabilities that may increase the costs our customers would have to pay for our services and adversely affect our operating results.***

We currently collect and remit sales, value added, and other similar taxes in multiple jurisdictions in which we conduct business. Tax laws and the application of such laws, including those relating to sales, use, value added, digital services, and other similar taxes, are subject to varying interpretations and may change over time. One or more U.S. states or municipalities, as well as international jurisdictions, could impose new or incremental tax collection and remittance obligations on us.

Changes or reinterpretations of such tax laws and regulations, or differing application by tax authorities, could result in additional tax liabilities for us or our customers, and may create significant administrative burdens. An expansion by a state or local government, or other country or jurisdiction of sales, use, value added, digital services, or other similar taxes could, among other things, result in additional tax liabilities for us or our customers and/or create additional administrative burdens for us. If we are unsuccessful in collecting such taxes from our customers, we could be held liable for such costs. Such tax assessments, penalties and interest or future requirements may adversely affect our operating results. We cannot predict the timing or effect of any such changes, and any expansion of our tax collection obligations could adversely affect our business, operating results, or financial condition.

In addition, various taxing authorities may challenge our historic practices, positions, or methodologies relating to the collection and remittance of sales, use, value added, digital services, or other similar taxes. Such authorities may seek to audit our records or assess taxes, interest, or penalties for prior periods, including in jurisdictions where we have not historically collected or remitted these taxes. Any such assessments or audits for past sales could result in substantial liabilities, which may adversely affect our business, operating results, or financial condition.

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**Risks related to this offering and ownership of our Class A common stock**

***The market price of our Class A common stock may be volatile, and you could lose all or part of your investment.***

We cannot predict the prices at which our Class A common stock will trade. The initial public offering price per share of our Class A common stock will be determined by negotiations between us and the underwriters and may not bear any relationship to the market price per share at which our Class A common stock will trade after this offering. Furthermore, the market price of our Class A common stock following this offering may fluctuate substantially and may be lower than the initial public offering price per share. The market price of our Class A common stock following this offering will depend on a number of factors, including, but not limited to, those described in this "Risk factors" section, many of which are beyond our control and may not be related to our operating results. In addition, the limited public float of our Class A common stock following this offering will tend to increase the volatility of the trading price of our Class A common stock. These fluctuations could cause you to lose all or part of your investment in our Class A common stock, since you might not be able to sell your shares at or above the price you paid in this offering. Factors that could cause fluctuations in the market price of our Class A common stock include, but are not limited to, the following:

• actual or anticipated changes or fluctuations in our operating results;

• the global political, economic, and macroeconomic climate, including, but not limited to, tariffs or trade restrictions, actual or perceived instability in the financial industry, labor shortages, supply chain disruptions, potential recession, inflation, and interest rate volatility;

• our incurrence of any material amounts of indebtedness;

• our ability to produce timely and accurate financial statements;

• the financial projections we may provide to the public, any changes in these projections, or our failure to meet these projections;

• announcements by us or our competitors of new offerings or new or terminated significant contracts, commercial relationships, acquisitions, or capital commitments;

• industry or financial analyst or investor reaction to our press releases, other public announcements, and filings with the SEC;

• rumors and market speculation involving us or other companies in our industry;

• price and volume fluctuations in the overall stock market from time to time;

• the overall performance of the stock market or the performance of public technology companies;

• the expiration of market standoff or contractual lock up agreements and sales of shares of our Class A common stock by us or our stockholders;

• failure of industry or financial analysts to maintain coverage of us, changes in financial estimates by any analysts who follow our company, or our failure to meet financial analysts' estimates or the expectations of investors;

• actual or anticipated developments in our business or our competitors' businesses or the competitive landscape generally;

• developments in AI;

• litigation or other proceedings involving us, our industry, or both, or investigations by regulators into our operations or those of our competitors or others that may be associated with us;

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• developments or disputes concerning our intellectual property rights, or third-party intellectual property or other proprietary rights that we rely on or have implemented into our platform;

• new laws or regulations or new interpretations of existing laws or regulations applicable to our business;

• any major changes in our management or our board of directors;

• other events or factors, including, but not limited to, those resulting from acts of war, terrorism, armed conflict, including the conflicts in the Middle East and Ukraine and tensions between China and Taiwan, or responses to these events; and

• actual or perceived cybersecurity incidents.

In addition, the stock market in general, and the market for technology companies in particular, has experienced price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of those companies, particularly during the current period of global macroeconomic uncertainty. These economic, political, regulatory, and market conditions may negatively impact the market price of our Class A common stock, regardless of our actual operating results. In the past, securities class action litigation and derivative litigation have often been instituted against companies following periods of volatility in the market price of a company's securities. These types of litigation, if instituted, could result in substantial costs and a diversion of management's attention and resources, which could adversely affect our business, operating results, or financial condition. Additionally, the dramatic increase in the cost of directors' and officers' liability insurance may cause us to opt for lower overall policy limits and coverage or to forgo insurance that we may otherwise rely on to cover significant litigation defense costs, settlements, and damages awarded to plaintiffs, or incur substantially higher costs to maintain the same or similar coverage. Any of the above potential effects relating to potential volatility in the market price of our Class A common stock could have an adverse effect on our business, operating results, and financial condition.

***The dual-class structure of our common stock has the effect of concentrating voting power with Shoaib Makani, our co-founder, Chief Executive Officer, and a member of our board of directors, which will limit your ability to influence the outcome of important transactions, including a change in control.***

Our Class B common stock has 20 votes per share, and our Class A common stock has one vote per share.

Following this offering of our Class A common stock, Shoaib Makani will collectively hold all of the issued and outstanding shares of our Class B common stock. For additional information, see the section titled "Description of capital stock."

Accordingly, upon the closing of this offering, and assuming no exercise of the underwriters' option to purchase additional shares, Mr. Makani will represent approximately &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; % of the total voting power of our outstanding capital stock, which total voting power may increase over time upon the exercise or settlement of equity awards held by Mr. Makani. Therefore, Mr. Makani will be able to control matters submitted to our stockholders for approval, including the election of directors, amendments of our organizational documents, and any merger, consolidation, sale of all or substantially all of our assets, or other major corporate transactions. Mr. Makani may have interests that differ from yours and may vote in a way with which you disagree and which may be adverse to your interests. This concentrated control may have the effect of delaying, preventing, or deterring a change in control of our company, could deprive our stockholders of an opportunity to receive a premium for their capital stock as part of a sale of our company, and might ultimately affect the market price of our Class A common stock.

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***The dual-class structure of our common stock may adversely affect the trading market for our Class A common stock.***

We cannot predict whether our dual-class structure of our common stock will result in a lower or more volatile market price of our Class A common stock, adverse publicity, or other adverse consequences. Certain stock index providers exclude or limit the ability of companies with dual class share structures from being added to certain of their indices. In addition, several stockholder advisory firms and large institutional investors oppose the use of dual-class structures. As a result, the dual-class structure of our common stock may make us ineligible for inclusion in certain indices and may discourage such indices from selecting us for inclusion, notwithstanding our automatic termination provision, may cause stockholder advisory firms to publish negative commentary about our corporate governance practices or otherwise seek to cause us to change our capital structure, and may result in large institutional investors not purchasing shares of our Class A common stock. Given the sustained flow of investment funds into passive strategies that seek to track certain indices, any exclusion from certain stock indices could result in less demand for our Class A common stock. Any actions or publications by stockholder advisory firms or institutional investors critical of our corporate governance practices or capital structure could also adversely affect the value of our Class A common stock.

***No public market for our Class A common stock currently exists, and an active public trading market may not develop or be sustained following this offering.***

Prior to this offering, there has been no public market or active private market for our Class A common stock. We have applied to list our Class A common stock on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . However, an active trading market may not develop following the closing of this offering or, if developed, may not be sustained. The lack of an active market may impair your ability to sell your shares at the time you wish to sell them or at a price that you consider reasonable. The lack of an active market may also reduce the market price of your shares of our Class A common stock. An inactive market may also impair our ability to raise capital by selling shares and may impair our ability to acquire other companies or technologies by using our shares as consideration.

***Sales of substantial amounts of our Class A common stock in the public markets, or the perception that they might occur, could cause the market price of our Class A common stock to decline.***

Sales of a substantial number of shares of our Class A common stock into the public market, particularly sales by our directors, executive officers, and principal stockholders, or the perception that these sales might occur, could cause the market price of our Class A common stock to decline.

All of the shares of our Class A common stock sold in this offering will be freely tradable without restrictions or further registration under the Securities Act of 1934, as amended (the "Securities Act"), except that any shares held by our affiliates, as defined in Rule 144 under the Securities Act, would only be able to be sold in compliance with Rule 144 and any applicable lock-up agreements described below.

Subject to certain exceptions, we, all of our directors and executive officers, and substantially all of the holders of our common stock, or securities exercisable for or convertible into our common stock outstanding immediately prior to this offering, are subject to market stand-off agreements or will agree not to offer, sell, or agree to sell, directly or indirectly, any shares of common stock without the consent of J.P. Morgan Securities LLC, on behalf of the underwriters, for a period of &nbsp;&nbsp;&nbsp;&nbsp; days from the date of this prospectus. When the lock-up period expires, we and our securityholders subject to a lock-up agreement or market stand-off agreement will be able to sell our shares in the public market. In addition, J.P. Morgan Securities LLC may, in its sole discretion, release all or some portion of the shares subject to lock-up agreements prior to the expiration of the lock-up period. For additional information, see the section titled "Shares eligible for future sale." Sales of a substantial number of such shares upon expiration of the lock-up and market stand-off agreements, or the perception that such sales may occur, or early release of these agreements, could cause our market price to fall or make it more difficult for you to sell your shares of our Class A common stock at a time and price that you deem appropriate.

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We anticipate that we will net-settle the IPO Vesting RSUs in the RSU Net Settlement as described and defined in the section titled "The offering." For RSUs that will vest after the effectiveness of the registration statement of which this prospectus forms a part and prior to the expiration of the lock-up period, we currently anticipate that we will continue to net-settle the shares underlying these RSUs. However, we will continue to have discretion to sell-to-cover rather than net-settle shares underlying these RSUs in order to satisfy the associated tax withholding and remittance obligations. The lock-up agreements and market standoff agreements may permit sell-to-cover transactions to cover tax withholding and remittance obligations related to the vesting and/or settlement of RSUs and stock options during the lock-up period. If we decide to sell-to-cover rather than net-settle shares underlying these RSUs and stock options, up to approximately &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of our Class A common stock underlying RSUs and stock options outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under our Amended and Restated 2013 Equity Incentive Plan (the "2013 Plan") will be eligible for sale in the open market during the lock-up period in connection with such sell-to-cover transactions. In addition, if the market-based vesting condition of the 2021 CEO Performance Option (as defined below) are achieved and we allow Mr. Makani to net exercise all or a portion of the shares underlying the 2021 CEO Performance Option, we could expend significant funds to satisfy the associated tax withholding obligation. Further, to the extent that an election is made to sell-to-cover all or a portion of the shares underlying the equity awards granted to Mr. Makani as described in the section titled "Executive compensation—CEO equity awards," such sales could increase the volatility of the trading price of our Class A common stock.

As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, we had stock options and RSUs outstanding that, if fully exercised or vested and settled, as applicable, would result in the issuance of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock, respectively, and we also had outstanding warrants exercisable for the purchase of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock. In addition, as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, we had stock options and RSUs outstanding that are subject to a stock exchange agreement (the "Exchange Agreement") with Mr. Makani pursuant to which, if fully exercised or vested and settled, as applicable, would result in the issuance of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock, respectively, which would be exchangeable for an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of Class B common stock. All of the shares of our Class A common stock issuable upon the exercise or settlement of stock options, warrants, or RSUs, and the shares reserved for future issuance under our equity incentive plans, will be registered for public resale under the Securities Act. Accordingly, these shares will be able to be freely sold in the public market upon issuance subject to existing lock-up or market standoff agreements and applicable vesting requirements.

Further, as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, we had Convertible Securities outstanding that, if fully converted pursuant to the Security Conversion as described and defined in the section titled "The offering," would result in the issuance of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock.

Immediately following this offering, the holders of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock will have rights, subject to some conditions, to require us to file registration statements for the public resale of our Class A common stock issuable upon conversion of such shares or to include such shares in registration statements that we may file for us or other stockholders.

We may also issue our shares of common stock or securities convertible into shares of our common stock from time to time in connection with a financing, acquisition, investment, or otherwise. Any further issuance could result in substantial dilution to our existing stockholders, especially if the issuance were to occur at a price below the then-current market price of our Class A common stock. Any future issuances could cause the market price of our Class A common stock to decline.

Moreover, during the quarter in which this offering is completed, we will begin recording stock-based compensation expense for RSUs that we have granted to our service providers, which vest upon the satisfaction of both a service-based vesting condition and a liquidity event-based vesting condition. We expect the liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part. If the liquidity event-based vesting condition had occurred on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, we would have recorded $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; million of stock-based compensation, and

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we would recognize additional stock-based compensation of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; million over a weighted-average remaining requisite service period of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; years. At the time of the offering, we expect to recognize stock-based compensation expense of approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; million with respect to RSUs for which the service-based vesting condition was satisfied or partially satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and for which we expect the liquidity event-based vesting condition to be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part. Following this offering, our future cost of revenue and operating expenses, particularly during the quarter in which this offering is completed, will include a substantial amount of stock-based compensation expense with respect to these RSUs, as well as any other equity awards we have granted and may grant in the future, which will have an adverse impact on our ability to achieve profitability. For additional information, see the section titled "Management's discussion and analysis of financial condition and results of operations—Critical accounting estimates—Stock-based compensation."

***If our operating and financial performance in any given period does not meet any guidance that we provide to the public, the market price of our Class A common stock may decline.***

We may, but are not obligated to, provide public guidance on our expected operating and financial results for future periods. Any such guidance will be comprised of forward-looking statements subject to the risks and uncertainties described in this prospectus and in our other public filings and public statements. Our actual results may not always be in line with or exceed any guidance we have provided, especially in times of economic uncertainty. If, in the future, our operating or financial results for a particular period do not meet any guidance we provide or the expectations of investment analysts, or if we reduce our guidance for future periods, the market price of our Class A common stock may decline. Even if we do issue public guidance, there can be no assurance that we will continue to do so in the future.

***If financial analysts issue inaccurate or unfavorable research regarding our Class A common stock, our stock price and trading volume could decline.***

The trading market for our Class A common stock will be influenced by the research and reports that financial analysts publish about us, our business, our market, and our competitors. We do not control these analysts or the content and opinions included in their reports. As a new public company, the analysts who publish information about our Class A common stock will have had relatively little experience with our company, which could affect their ability to accurately forecast our results and make it more likely that we fail to meet their estimates. If any of the analysts who cover us issue an inaccurate or unfavorable opinion regarding our stock price, our stock price would likely decline. In addition, the stock prices of many companies in the technology industry have declined significantly after those companies have failed to meet, or significantly exceed, the financial guidance publicly announced by the companies or the expectations of analysts. If our financial results fail to meet, or significantly exceed, our announced guidance or the expectations of analysts or public investors, analysts could downgrade our Class A common stock or publish unfavorable research about us. If one or more of these analysts cease coverage of our Class A common stock or fail to publish reports on us regularly, our visibility in the financial markets could decrease, which in turn could cause our stock price or trading volume to decline.

***We do not intend to pay dividends in the foreseeable future. As a result, your ability to achieve a return on your investment will depend on appreciation in the price of our Class A common stock.***

We have never declared or paid any cash dividends on our capital stock. We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any dividends in the foreseeable future. Any determination to pay dividends in the future will be at the discretion of our board of directors and will depend on our operating results, financial condition, capital requirements, general business conditions, instruments, and other factors that our board of directors may deem relevant. Additionally, our ability to pay dividends is limited by restrictions on our ability to pay dividends or make distributions under the terms of the Credit Agreement and Convertible Securities. Accordingly, investors must rely on sales of their shares of our Class A common stock after price appreciation, which may never occur, as the only way to realize any future gains on their investments.

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***The initial public offering price of our Class A common stock may not be indicative of the market price of our Class A common stock after this offering.***

The initial public offering price was determined by negotiations between us and representatives of the underwriters, based on numerous factors which we discuss in "Underwriting," and may not be indicative of the market price of our Class A common stock after this offering. If you purchase our Class A common stock, you may not be able to resell those shares at or above the initial public offering price.

***Because the initial public offering price per share of our Class A common stock will be substantially higher than the pro forma net tangible book value per share of our outstanding Class A common stock following this offering, new investors will experience immediate and substantial dilution.***

The initial public offering price per share will be substantially higher than the pro forma net tangible book value per share of our Class A common stock immediately following this offering based on the total value of our tangible assets less our total liabilities. Therefore, if you purchase shares of our Class A common stock in this offering, based on the midpoint of the offering price range set forth on the cover page of this prospectus, and the issuance of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class A common stock in this offering, you will experience immediate dilution of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share, the difference between the price per share you pay for our Class A common stock and its pro forma net tangible book value per share as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 after giving effect to the issuance of shares of our Class A common stock in this offering. Furthermore, if current or future outstanding warrants or equity awards are settled in shares of our capital stock, or if we otherwise issue additional shares of our capital stock, you could experience further dilution. For additional information, see the section titled "Dilution."

***Additional stock issuances could result in significant dilution to our stockholders.***

We expect to issue additional capital stock in the future that will result in dilution to all other stockholders. For example, we have and expect to continue to grant equity awards to employees, directors, and consultants under our equity incentive plans. Any issuances of common stock resulting from the exercise of outstanding stock options or the settlement of outstanding RSUs would be dilutive to holders of our common stock. We may also raise capital through equity financings in the future. In addition, as part of our business strategy, we may acquire or make investments in companies, products, or technologies and issue equity securities to pay for any such acquisition or investment. The amount of dilution as a result of any of these issuances could be substantial and cause the trading price of our Class A common stock to decline.

***We are an "emerging growth company" and the reduced reporting requirements applicable to emerging growth companies could make our Class A common stock less attractive to investors.***

We are an "emerging growth company" as defined in the JOBS Act. For as long as we continue to be an emerging growth company, we may take advantage of exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including (i) not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, (ii) reduced disclosure obligations regarding executive compensation in this prospectus and our periodic reports and proxy statements, and (iii) exemptions from the requirements of holding nonbinding advisory stockholder votes on executive compensation and stockholder approval of any golden parachute payments not previously approved. In addition, as an emerging growth company, we are only required to provide two years of audited financial statements in this prospectus.

We could be an emerging growth company for up to five years following the closing of this offering, although circumstances could cause us to lose that status earlier, including if we are deemed to be a "large accelerated filer," which occurs when the market value of our common stock that is held by non-affiliates equals or exceeds $700.0 million as of the prior June 30, or if we have total annual gross revenue of $1.235 billion or more during any fiscal year before that time, in which cases we would no longer be an emerging growth company as of the following December 31, or if we issue more than

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$1.0 billion in non-convertible debt during any three-year period before that time, in which case we would no longer be an emerging growth company immediately.

Under the JOBS Act, emerging growth companies can also delay adopting new or revised accounting standards until such time as those standards apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards. Until the date that we are no longer an "emerging growth company" or affirmatively and irrevocably opt out of the exemption provided by Section 7(a)(2)(B) of the Securities Act, upon issuance of a new or revised accounting standard that applies to our financial statements and that has a different effective date for public and private companies, we will disclose the date on which adoption is required for non-emerging growth companies and the date on which we will adopt the recently issued accounting standard.

***We will have broad discretion in the use of the net proceeds from this offering and may not use them effectively.***

We will have broad discretion in the application of the net proceeds from this offering, including for any of the purposes described in the section titled "Use of proceeds," and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used appropriately. Because of the number and variability of factors that will determine our use of the net proceeds from this offering, their ultimate use may vary substantially from their currently intended use. If we do not use the net proceeds that we receive in this offering effectively, our business, operating results, and financial condition could be harmed, and the market price of our Class A common stock could decline. Pending their use, we may invest the net proceeds from this offering in short-term, investment-grade interest-bearing securities such as money market accounts, certificates of deposit, commercial paper, and guaranteed obligations of the U.S. government that may not generate a high yield. These investments may not yield a favorable return to our investors.

***Provisions in our charter documents and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may limit attempts by our stockholders to replace or remove our current management.***

Provisions in our restated certificate of incorporation and restated bylaws that will become effective immediately prior to the closing of this offering may have the effect of delaying or preventing a merger, acquisition, or other change of control of the company that the stockholders may consider favorable. In addition, because our board of directors is responsible for appointing the members of our management team, these provisions may frustrate or prevent any attempts by our stockholders to replace or remove our current management by making it more difficult for stockholders to replace members of our board of directors. Among other things, our restated certificate of incorporation and restated bylaws that will become effective immediately prior to the closing of this offering include provisions that:

• provide that our board of directors is classified into three classes of directors with staggered three-year terms;

• permit our board of directors to establish the number of directors and fill any vacancies and newly created directorships;

• require supermajority voting to amend some provisions in our restated certificate of incorporation and restated bylaws;

• authorize the issuance of "blank check" preferred stock that our board of directors could use to implement a stockholder rights plan;

• provide that only our chief executive officer or a majority of our board of directors will be authorized to call a special meeting of stockholders;

• eliminate the ability of our stockholders to call special meetings of stockholders;

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• do not provide for cumulative voting;

• provide that directors may only be removed "for cause" and only with the approval of two-thirds of our stockholders;

• provide for a dual class common stock structure in which holders of our Class B common stock may have the ability to control the outcome of matters requiring stockholder approval, even if they own significantly less than a majority of the outstanding shares of our common stock, including the election of directors and other significant corporate transactions, such as a merger or other sale of our company or its assets;

• prohibit stockholder action by written consent, which requires all stockholder actions to be taken at a meeting of our stockholders;

• provide that our board of directors is expressly authorized to make, alter, or repeal our restated bylaws; and

• establish advance notice requirements for nominations for election to our board of directors or for proposing matters that can be acted upon by stockholders at annual stockholder meetings.

Moreover, Section 203 of the Delaware General Corporation Law (the "DGCL"), may discourage, delay, or prevent a change in control of our company. Section 203 imposes certain restrictions on mergers, business combinations, and other transactions between us and holders of 15% or more of our common stock.

***Our restated bylaws contain exclusive forum provisions for certain claims, which may limit our stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.***

Our restated bylaws that will become effective immediately prior to the closing of this offering will provide that the Court of Chancery of the State of Delaware, to the fullest extent permitted by law, will be the exclusive forum for any derivative action or proceeding brought on our behalf, any action asserting a breach of fiduciary duty, any action asserting a claim against us arising pursuant to the DGCL, our restated certificate of incorporation that will become effective immediately prior to the closing of this offering, or our restated bylaws, any action to interpret, apply, enforce or determine the validity of our restated certificate of incorporation, or our restated bylaws, any action asserting a claim against us that is governed by the internal affairs doctrine or any action asserting an internal corporate claim (as defined in the DGCL).

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Our stockholders will not be deemed to have waived our compliance with the federal securities laws and the regulations promulgated thereunder.

Any person or entity purchasing or otherwise acquiring or holding any interest in any of our securities shall be deemed to have notice of and consented to our exclusive forum provisions, including the Federal Forum Provision. These provisions may limit a stockholder's ability to bring a claim in a judicial forum of their choosing for disputes with us or our directors, officers, or employees, which may discourage lawsuits against us and our directors, officers, and employees. Alternatively, if a court were to find the choice of forum provision contained in our restated bylaws to be inapplicable or unenforceable in an action, we may incur additional costs associated with resolving such action in other jurisdictions, which could harm our business, operating results, and financial condition.

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**Special note regarding forward-looking statements**

This prospectus contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements contained in this prospectus other than statements of historical fact, including statements regarding our future results of operations and financial condition, our business strategy and plans, market growth, and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "project," "target," "plan," "expect," and similar expressions are intended to identify forward-looking statements.

Forward-looking statements contained in this prospectus include, but are not limited to, statements about:

• our future financial performance, including our expectations regarding our revenue, cost of revenue, gross profit or gross margin, operating expenses, including changes in operating expenses, and our ability to achieve and maintain future profitability;

• our business plan and our ability to effectively manage our growth;

• our total market opportunity;

• anticipated trends, growth rates, and challenges in our business and in the markets in which we operate;

• market acceptance of our platform, products, and services;

• beliefs and objectives for future operations;

• our ability to attract new customers and retain and grow sales within our existing customers;

• our ability to develop and introduce new products and services and bring them to market in a timely manner;

• our ability to successfully incorporate artificial intelligence ("AI") into our platform, as well as our existing and future products and services and to successfully deploy them;

• our expectations concerning relationships and partnerships with third parties, domestically and internationally;

• our ability to maintain, protect, and enhance our intellectual property rights;

• our ability to successfully defend litigation against us;

• our ability to expand internationally;

• the effects of increased competition in our markets and our ability to compete effectively;

• our ability to identify, recruit, hire, and retain skilled personnel, including key members of senior management;

• future acquisitions or investments in complementary companies or products, technologies, or services;

• our ability to stay in compliance with laws and regulations that currently apply or may become applicable to our business both in the United States and internationally;

• economic and industry trends, projected growth, or trend analysis;

• the effects of seasonal trends on our operating results;

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• general economic conditions in the United States and globally, including the effects of global geopolitical conflicts, tariffs, inflation, interest rate volatility, potential instability in the global banking sector, the federal debt ceiling and budget, and foreign currency exchange rates;

• our ability to operate and grow our business in light of macroeconomic uncertainty;

• increased expenses associated with being a public company;

• our estimates regarding expenses, future revenue, capital requirements, and needs for additional financing;

• our intended use of our existing cash and cash equivalents and the net proceeds from this offering; and

• other statements regarding our future operations, financial condition, and prospects and business strategies.

We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, operating results, business strategy, and short-term and long-term business operations and objectives. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including those described in the section titled "Risk factors" and elsewhere in this prospectus. Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the forward-looking events and circumstances discussed in this prospectus may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.

You should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this prospectus or to conform these statements to actual results or to changes in our expectations, except as required by law.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this prospectus. While we believe such information provides a reasonable basis for these statements, such information may be limited or incomplete. Although we believe such information to be reliable and we are responsible for all of the disclosure contained in this prospectus, our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.

You should read this prospectus and the documents that we reference in this prospectus and have filed with the SEC as exhibits to the registration statement of which this prospectus is a part with the understanding that our actual future results, performance, and events and circumstances may be materially different from what we expect.

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**Industry and market data**

Unless otherwise indicated, information contained in this prospectus concerning our industry and the markets in which we operate, including our general expectations, market position, market opportunity, and market size, is based on information from various sources, including our own estimates, as well as assumptions that we have made that are based on such data and other similar sources and on our knowledge of the markets for our products. This information involves important assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Although we are responsible for all of the disclosure contained in this prospectus and we believe the third-party market position, market opportunity, and market size data included in this prospectus are reliable, we have not independently verified the accuracy or completeness of this third-party data. In addition, projections, assumptions, and estimates of our future performance and the future performance of the industry in which we operate is necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the sections titled "Risk factors" and "Special note regarding forward-looking statements," as well as elsewhere in this prospectus. These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by us.

This prospectus contains statistical data, estimates, and forecasts that are based on publications or reports generated by third parties, or other publicly available information, as well as other information based on our internal sources.

The sources of certain statistical data, estimates, and forecasts contained in this prospectus are provided below:

• American Transportation Research Institute, *An Analysis of the Operational Costs of Trucking: 2025 Update*, July 2025.

• Bob Davis and Jon Hilsenrath, *How the U.S. Lost its Place as the World's Manufacturing Powerhouse*, the Wall Street Journal, May 2022.

• Frost & Sullivan, *Global Connected Truck Telematics Outlook—Empowering Connectivity and Maximizing Vehicle Uptime are Top Fleet Priorities as Efforts to Future-proof Transportation Intensify*, June 2024.

• Frost & Sullivan, *Global Connected Truck Telematics Outlook—Intensifying Trade Wars, Reciprocal Tariffs, and an Uncertain Economic Outlook Developed Regions Are Expected to Muffle Growth*, August 2025.

• International Data Corporation, *Worldwide Video Surveillance Camera Forecast, 2023 – 2027: A Fragmented Market, but Robust Growth*, May 2023. Figures from this report are accurate as of the report's publication date.

• World Bank Group, *World Development Indicators: Structure of Value Added*, July 2025.

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**Use of proceeds**

We estimate that the net proceeds from this offering will be approximately $&nbsp;&nbsp;&nbsp;&nbsp; million (or approximately $&nbsp;&nbsp;&nbsp;&nbsp; million if the underwriters exercise their option to purchase additional shares in full) based upon the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and after deducting underwriting discounts and commissions and estimated offering expenses.

Each $1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase (decrease) the net proceeds from this offering by approximately $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the number of shares of our Class A common stock offered, as set for the on the cover page of this prospectus, remains the same and after deducting underwriting discounts and commissions. Similarly, each increase (decrease) of 1.0 million shares in the number of shares of our Class A common stock offered would increase (decrease) the net proceeds from this offering by approximately $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions.

The principal purposes of this offering are to create a public market for our Class A common stock, increase our visibility in the marketplace, obtain additional capital, and increase our capitalization and financial flexibility. We currently intend to use the net proceeds from this offering primarily for working capital and other general corporate purposes, which may include product development, general and administrative matters, and capital expenditures. We also intend to use a portion of the net proceeds together with existing cash and cash equivalents, if necessary, to satisfy our estimated tax withholding and remittance obligations related to the RSU Net Settlement. Assuming (i) the fair market value of our Class A common stock at the time of settlement will be equal to the assumed initial public offering price per share of $&nbsp;&nbsp;&nbsp;&nbsp; , which is the midpoint of the offering price range set forth on the cover page of this prospectus, and (ii) an assumed &nbsp;&nbsp;&nbsp;&nbsp; % tax withholding rate, we estimate that these tax withholding and remittance obligations related to the RSU Net Settlement will be $&nbsp;&nbsp;&nbsp;&nbsp; million in the aggregate. We may also use a portion of the net proceeds, if any, for the acquisition of, or investment in, technologies, solutions, or businesses that complement our business. However, we do not have agreements or commitments for any material acquisitions or investments at this time.

Each $1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, assuming no change to the applicable tax rate, would increase (decrease) the amount of our estimated tax withholding and remittance obligations by approximately $&nbsp;&nbsp;&nbsp;&nbsp; million.

We will have broad discretion in the way that we use the net proceeds of this offering. We cannot specify with certainty all of the particular uses for the remaining net proceeds from this offering. Pending their use as described above, we intend to invest a portion of net proceeds from this offering in one or more capital-preservation investments, which may include short-term, investment-grade interest-bearing securities, such as money market funds, certificates of deposit, commercial paper, and guaranteed obligations of the U.S. government.

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**Dividend policy**

We have never declared or paid any cash dividends on our capital stock. We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any dividends on our capital stock in the foreseeable future. Additionally, our ability to pay dividends or make distributions is limited by certain restrictions provided under the Credit Agreement and the Convertible Securities. For additional information regarding the Credit Agreement and the Convertible Securities, see the section titled "Management's discussion and analysis of financial condition and results of operations—Liquidity and capital resources—Sources of liquidity." Any future determination to declare dividends will be made at the discretion of our board of directors and will depend, among other things, on our financial condition, results of operations, capital requirements, general business conditions, restrictions in our current or future debt instruments, and other factors that our board of directors may deem relevant.

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**Capitalization**

The following table sets forth our cash and cash equivalents and our capitalization as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, on:

• an actual basis;

• a pro forma basis, which reflects (i) the Capital Stock Conversion, (ii) the Security Conversion, including the reclassification of the embedded derivative liability related to the Convertible Securities to additional paid-in capital, (iii) an increase to additional paid-in capital and accumulated deficit related to stock-based compensation of $&nbsp;&nbsp;&nbsp;&nbsp; million associated with the RSU Net Settlement, (iv) the Warrant Exercises, as if such exercises had occurred on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, (v) the net issuance of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock in connection with the RSU Net Settlement, after withholding &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares to satisfy our associated estimated tax withholding and remittance obligations of $&nbsp;&nbsp;&nbsp;&nbsp; million (based upon the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and an assumed &nbsp;&nbsp;&nbsp;&nbsp; % tax withholding rate), and (vi) the filing and effectiveness of our restated certificate of incorporation that will become effective immediately prior to the closing of this offering; and

• a pro forma as adjusted basis, which reflects (i) the pro forma adjustments set forth above, (ii) the sale and issuance of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class A common stock in this offering at the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, after deducting underwriting discounts and commissions and estimated offering expenses, and (iii) the application of the net proceeds therefrom as described in the section titled "Use of proceeds."

The information below is illustrative only and our capitalization following this offering will be adjusted based, among other things, on the actual initial public offering price and other terms of this offering determined at pricing, the actual tax withholding rates, and the actual number of RSUs settled upon the effectiveness of the registration statement of which this prospectus forms a part. You should read this table together with our consolidated financial statements and the accompanying notes, and the section

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titled "Management's discussion and analysis of financial condition and results of operations," that are included elsewhere in this prospectus.

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| | | | |
|:---|:---|:---|:---|
| | **As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025** | **As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025** | **As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025** |
| | **Actual** | **Pro forma** | **Pro forma as**<br>**adjusted**<sup>(1)</sup> |
|<br>**(in thousands, except share and per share data)** | **(unaudited)** | **(unaudited)** | **(unaudited)** |
| Cash and cash equivalents | $ | $ | $ |
| Convertible note | $ | $ | $ |
| Long-term debt |  |  |  |
| Total liabilities | $ | $ | $ |
| Convertible preferred stock, $0.0001 par value per share; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issued and outstanding, actual; no shares authorized, issued, and outstanding, pro forma and pro forma as adjusted |  |  |  |
| Stockholders' (deficit) equity: |  |  |  |
| Preferred stock, $0.0001 par value per share; no shares authorized, no shares issued and outstanding, actual; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized, no shares issued and outstanding, pro forma and pro forma as adjusted |  |  |  |
| Class A common stock, $0.0001 par value per share; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issued and outstanding, actual; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issued and outstanding, pro forma; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issued and outstanding, pro forma as adjusted |  |  |  |
| Class B common stock, $0.0001 par value per share; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; issued and outstanding, actual; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issued and outstanding, pro forma; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares authorized, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares issued and outstanding, pro forma as adjusted |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' (deficit) equity |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total capitalization | $ | $ | $ |

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(1)Each $1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase (decrease) the amount of our pro forma as adjusted cash and cash equivalents, additional paid-in capital, total stockholders' (deficit) equity, and total capitalization by $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the number of shares of our Class A common stock offered as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. Similarly, each increase (decrease) of 1.0 million shares in the number of shares of our Class A common stock offered would increase (decrease) the amount of our pro forma as adjusted cash and cash equivalents, additional paid-in capital, total stockholders' (deficit) equity, and total capitalization by $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. In addition, each 1.0% increase (decrease) in our estimated tax withholding rate would increase (decrease) the amount of our estimated tax withholding and remittance obligations related to the RSU Net Settlement and decrease (increase) cash and cash equivalents, additional paid-in capital, total stockholders' (deficit) equity, and total capitalization by $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, remains the same, that the number of shares of our Class A common stock offered, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. Each $1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase (decrease) the amount of our estimated tax withholding and remittance obligations related to the RSU Net Settlement and decrease (increase) cash and cash equivalents, additional paid-in capital, total stockholders' (deficit) equity, and total capitalization by $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the tax withholding rate remains the same, that the number of shares of our Class A common stock offered, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. If the underwriters' option to purchase additional shares is exercised in full, the pro forma as adjusted amount of each of cash and cash equivalents, additional paid-in capital, total stockholders' (deficit) equity, and total capitalization would increase by $&nbsp;&nbsp;&nbsp;&nbsp; million, and after deducting underwriting discounts and commissions, and we would have&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issued and outstanding, pro forma as adjusted.

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The number of shares of our Class A common stock and Class B common stock that will be outstanding after this offering, pro forma and pro forma as adjusted, in the table above, is based on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock outstanding and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class B common stock outstanding, each as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 (after giving effect to the Capital Stock Conversion, the Security Conversion, the RSU Net Settlement, and the Warrant Exercises), and excludes:

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of stock options to purchase shares of our Class A common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan, with a weighted-average exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of stock options to purchase shares of our Class A common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan, with an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, for which the market-based vesting condition was not satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of RSUs outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan (i) for which the service-based vesting condition was not satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and (ii) for which the liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part, after giving effect to the RSU Net Settlement;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of RSUs, subject to service-based vesting conditions, granted after &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan, after giving effect to the RSU Net Settlement;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of RSUs outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan (i) for which the market-based vesting condition or performance-based vesting condition was not satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and (ii) for which the liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part, after giving effect to the RSU Net Settlement;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, of which (i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share and (ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share; and

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock reserved for future issuance under our equity compensation plans, consisting of (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock available for future issuance under the 2013 Plan, as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 (which amount does not reflect RSUs that may be settled for shares of our Class A common stock granted after &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025); (ii)&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock reserved for future issuance under our 2025 Equity Incentive Plan (the "2025 Plan"), which will become effective on the date immediately prior to the date of this prospectus; and (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock reserved for issuance under our 2025 Employee Stock Purchase Plan (the "2025 ESPP"), which will become effective on the date of this prospectus.

On the date of this prospectus, any remaining shares of our Class A common stock available for issuance under the 2013 Plan will be added to the shares of our Class A common stock reserved for issuance under the 2025 Plan, and we will cease granting awards under the 2013 Plan. The 2025 Plan and 2025 ESPP also provide for automatic annual increases in the number of shares reserved thereunder. See the section titled "Executive compensation—Stock plans" for additional information.

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**Dilution**

If you invest in our Class A common stock in this offering, your ownership interest will be immediately diluted to the extent of the difference between the initial public offering price per share of our Class A common stock and the pro forma as adjusted net tangible book value per share of our Class A common stock immediately after this offering.

As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, our pro forma net tangible book value was $&nbsp;&nbsp;&nbsp;&nbsp; million, or $&nbsp;&nbsp;&nbsp;&nbsp; per share of our common stock. Our pro forma net tangible book value per share represents the amount of our total tangible assets reduced by the amount of our total liabilities and divided by the total number of shares of our common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, after giving effect to (i) the Capital Stock Conversion, (ii) the Security Conversion, including the reclassification of the embedded derivative liability related to the Convertible Securities to additional paid-in capital, (iii) an increase to additional paid-in capital and accumulated deficit related to stock-based compensation of $&nbsp;&nbsp;&nbsp;&nbsp; million associated with the RSU Net Settlement, (iv) the Warrant Exercises, as if such exercises had occurred on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, (v) the net issuance of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock in connection with the RSU Net Settlement, after withholding &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares to satisfy our associated estimated tax withholding and remittance obligations of $&nbsp;&nbsp;&nbsp;&nbsp; million (based upon the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and an assumed &nbsp;&nbsp;&nbsp;&nbsp; % tax withholding rate), and (vi) the filing and effectiveness of our restated certificate of incorporation that will become effective immediately prior to the closing of this offering.

After giving effect to (i) the sale and issuance of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock in this offering at the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, after deducting underwriting discounts and commissions and estimated offering expenses, and (ii) the application of the net proceeds therefrom as described in the section titled "Use of proceeds," our pro forma as adjusted net tangible book value as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 would have been $&nbsp;&nbsp;&nbsp;&nbsp; million, or $&nbsp;&nbsp;&nbsp;&nbsp; per share. This represents an immediate increase in pro forma net tangible book value of $&nbsp;&nbsp;&nbsp;&nbsp; per share to our existing stockholders and an immediate dilution in pro forma as adjusted net tangible book value of $&nbsp;&nbsp;&nbsp;&nbsp; per share to investors purchasing shares of our Class A common stock in this offering at the assumed initial public offering price, which is the midpoint of the offering price range set forth on the cover page of this prospectus.

The following table illustrates this dilution on a per share basis to new investors:

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| | |
|:---|:---|
| Assumed initial public offering price per share | $ |
| &nbsp;&nbsp;&nbsp;&nbsp;Pro forma net tangible book value per share as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, before giving effect to this offering | $ |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase in pro forma net tangible book value per share attributable to new investors purchasing Class A common stock in this offering |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pro forma as adjusted net tangible book value per share immediately after this offering | $ |
| Dilution in pro forma as adjusted net tangible book value per share to new investors in this offering | $ |

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The dilution information discussed above is illustrative only and will change based, among other things, on the actual initial offering price and other terms of this offering determined at pricing, the actual tax withholding rates, and the actual number of RSUs settled upon the effectiveness of the registration statement of which this prospectus forms a part. Each $1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase (decrease) the amount of our pro forma as adjusted net tangible book value per share after this offering by $&nbsp;&nbsp;&nbsp;&nbsp; per share and would increase (decrease) the dilution per share to new investors in this offering by $&nbsp;&nbsp;&nbsp;&nbsp; per share, assuming that the number of shares of our Class A common stock offered, as set forth on the cover page of this prospectus, remains the same

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and after deducting underwriting discounts and commissions. Similarly, an increase of 1.0 million shares in the number of shares of our Class A common stock offered would increase the amount of our pro forma as adjusted net tangible book value per share after this offering by $&nbsp;&nbsp;&nbsp;&nbsp; per share and would decrease the dilution to new investors by $&nbsp;&nbsp;&nbsp;&nbsp; per share, and a decrease of 1.0 million shares in the number of shares of our Class A common stock offered would decrease the pro forma as adjusted net tangible book value per share after this offering by $&nbsp;&nbsp;&nbsp;&nbsp; per share and increase the dilution to new investors by $&nbsp;&nbsp;&nbsp;&nbsp; per share, in each case assuming that the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions.

If the underwriters exercise their option to purchase additional shares in full, the pro forma as adjusted net tangible book value per share of our common stock after giving effect to this offering would be $&nbsp;&nbsp;&nbsp;&nbsp; per share, and the dilution in pro forma as adjusted net tangible book value per share to investors in this offering would be $&nbsp;&nbsp;&nbsp;&nbsp; per share.

The following table summarizes, on a pro forma as adjusted basis as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, after giving effect to the pro forma adjustments described above, the difference between existing stockholders and new investors purchasing shares of our Class A common stock in this offering with respect to the number of shares purchased from us, the total consideration paid to us, and the average price per share paid by our existing stockholders or to be paid by investors purchasing shares in this offering at the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, before deducting underwriting discounts and commissions and estimated offering expenses:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Shares purchased** | **Shares purchased** | **Total consideration** | |
| | **Number** | **Percent** | **Percent** |<br>**Average price per share** |
| Existing stockholders |  | % | $% | $ |
| New public investors |  |  |  | $ |
| Total |  | 100% | $100% |  |

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Each $1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase (decrease) total consideration paid by new investors and total consideration paid by all stockholders by approximately $&nbsp;&nbsp;&nbsp;&nbsp; million, assuming that the number of shares offered, as set forth on the cover page of this prospectus, remains the same and after deducting underwriting discounts and commissions.

Except as otherwise indicated, the above discussion and tables assume no exercise of the underwriters' option to purchase additional shares. If the underwriters' option to purchase additional shares is exercised in full, our existing stockholders would own&nbsp;&nbsp;&nbsp;&nbsp; % and our new investors would own&nbsp;&nbsp;&nbsp;&nbsp; % of the total number of shares of our common stock outstanding upon the closing of this offering.

In addition, to the extent we issue any additional stock options or RSUs or any outstanding stock options are exercised or outstanding RSUs vest and settle, or we issue any other securities or convertible debt in the future, investors will experience further dilution.

The foregoing tables and calculations (other than the historical net tangible book value calculations) are based on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock outstanding and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class B common stock outstanding, each as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 (after giving effect to the Capital Stock Conversion, the Security Conversion, the RSU Net Settlement, and the Warrant Exercises), and excludes:

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of stock options to purchase shares of our Class A common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan, with a weighted-average exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share;

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• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of stock options to purchase shares of our Class A common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan, with an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, for which the market-based vesting condition was not satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of RSUs outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan (i) for which the service-based vesting condition was not satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and (ii) for which the liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part, after giving effect to the RSU Net Settlement;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of RSUs, subject to service-based vesting conditions, granted after &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan, after giving effect to the RSU Net Settlement;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of RSUs outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan (i) for which the market-based vesting condition or performance-based vesting condition was not satisfied as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and (ii) for which the liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part, after giving effect to the RSU Net Settlement;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, of which (i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share and (ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share; and

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock reserved for future issuance under our equity compensation plans, consisting of (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock available for future issuance under the 2013 Plan, as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 (which amount does not reflect RSUs that may be settled for shares of our Class A common stock granted after &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025); (ii)&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock reserved for future issuance under the 2025 Plan, which will become effective on the date immediately prior to the date of this prospectus; and (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock reserved for issuance under the 2025 ESPP, which will become effective on the date of this prospectus.

On the date of this prospectus, any remaining shares of our Class A common stock available for issuance under the 2013 Plan will be added to the shares of our Class A common stock reserved for issuance under the 2025 Plan, and we will cease granting awards under the 2013 Plan. The 2025 Plan and 2025 ESPP also provide for automatic annual increases in the number of shares reserved thereunder. See the section titled "Executive compensation—Stock plans" for additional information.

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**Management's discussion and analysis of financial condition and results of operations**

*The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements, the accompanying notes, and the other financial information included elsewhere in this prospectus. Some of the information contained in this discussion and analysis or set forth elsewhere in this prospectus, including information with respect to our plans and strategy for our business, includes forward-looking statements that involve risks and uncertainties. You should review the sections titled "Special note regarding forward-looking statements" and "Risk factors" for a discussion of forward-looking statements and important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.*

**Our business**

The physical economy generates over $50 trillion in annual economic output and comprises approximately 50% of global gross domestic product ("GDP"),<sup>2</sup> spanning industries and verticals like construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector, among others. Despite its scale, the physical economy has been underserved from a technology and innovation perspective relative to the knowledge economy.

Unlike the knowledge economy, which is natively connected, the physical economy runs on vehicles and equipment that are largely unconnected and workers that operate on the road or in the field. In addition to these structural challenges, organizations in the physical economy are confronted with growing safety risks, declining labor force participation, and continuously rising input costs. Existing offerings have failed to help organizations overcome these challenges due to the fragmented nature of such offerings and their lack of AI capabilities, resulting in siloed data, technical complexity, and limited automation.

We purpose-built our Integrated Operations Platform to address the challenges of the physical economy. Our platform offers a suite of products, including Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision. These six products are enabled by our Physical Operations Graph, which serves as the foundational data layer and single source of truth for our customers' physical operations. Our Physical Operations Graph connects and unifies multi-source data across workers, vehicles, equipment, and spend and helps our customers eliminate data silos, enabling cross-domain insights, integrated workflow automation, and advanced AI-powered analytics.

<sup>2</sup> According to estimates from the World Bank and a third-party report.

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The key strength of our AI system is its recursive improvement capability. Across our Physical Operations Graph, more than one million vehicles and assets generate over one trillion data points per month, building a vast and continuously growing data corpus. This data is labeled with high accuracy by a team of over 400 full-time data annotators who process tens of millions of events annually. This output is used to train our models, which are further refined with low-latency validation. As these models are deployed into production, they generate additional data that expands our training sets and continuously improves model performance over time. This cycle of recursive improvement compounds, reinforcing our AI advantage.

Our Integrated Operations Platform enables our customers to transform the safety of their workforce, the productivity of their workers and assets, and the profitability of their operations. Since January 1, 2023, we estimate that our platform helped prevent over 170,000 accidents, saved 1,500 lives, and delivered over $175 million in fuel and fraud savings to our customers. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged an 80% reduction in collisions, reduced their insurance premiums by approximately 20%, and, since implementing our platform, saved an average of 10.8 hours per week on managing vehicle or asset repairs and downtime due to improved efficiency.

As of December 31, 2024, we had nearly 100,000 customers that operated across over a dozen industries and verticals, including construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector, among others. Within each industry, our ability to partner with larger and more complex customers has been a key growth driver of our business. As of December 31, 2024, we had over 6,000 customers with an ARR of greater than $10,000 ("Core Customers"), over 350 customers with an ARR of greater than $100,000 ("Large Customers"), and 20 customers with an ARR greater than $1 million. Our Large Customers include &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and we continue to gain traction within our Large Customers. As of December 31, 2024, our Core Customers had a net dollar retention rate ("NDR") of 110% while our Large Customers had an NDR of 124%.

We have achieved rapid growth and significant scale since our founding in 2013. In 2023 and 2024, our revenue was $310 million and $370 million, respectively, and our ARR as of December 31, 2023 and 2024 was $338 million and $417 million, respectively, representing a 19% year-over-year growth in revenue and a 23% year-over-year growth in ARR. Our loss from operations for 2023 and 2024 was $89 million and $112 million, respectively, and our non-GAAP loss from operations for 2023 and 2024 was $75 million and $82 million, respectively. We generated net losses of $109 million and $153 million in 2023 and 2024, respectively. Our loss from operations, non-GAAP loss from operations and net loss in recent periods reflect our continued investment in our business and our large market opportunity.

For definitions and additional information about ARR, NDR, and non-GAAP loss from operations, see the sections titled "—Key business metrics—Annualized recurring run-rate," "—Key factors affecting our performance—Expansion with existing customers," and "—Non-GAAP financial measures," respectively.

**Our business model**

We generate a substantial majority of our revenue from subscriptions to our platform, contributing approximately 95% and 92% of our revenue for 2023 and 2024, respectively. The remainder of our revenue in 2023 and 2024 was related to our Spend Management product and other ancillary revenue streams.

A subscription to our platform includes the use of our platform, along with an integrated suite of hardware devices. Our subscription pricing is structured on a per asset, per product basis, with contracts typically spanning three years. Subscription revenue is recognized ratably over the term of the contract. Customer billings are issued monthly, quarterly, annually, or fully upfront, and payment terms are generally due upon receipt of invoice or net 30 days.

Revenue from our Spend Management product contributed approximately 2% and 3% of our revenue in 2023 and 2024, respectively. We generate revenue from Spend Management primarily through

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interchange fees and rebates from the Motive partner network. Revenue generated from other ancillary items include hardware related charges and accessories, professional services, as well as shipping and handling fees.

**Key business metrics**

We regularly review the following key business metrics to evaluate our business, measure our performance, identify trends, prepare financial projections, and make business decisions.

***Annualized recurring run-rate***

We believe that ARR is a key business metric to measure our business because it reflects our ability to drive new subscription contracts and increased revenue from our Spend Management product, and to maintain and expand our relationships with existing customers. We define ARR as the annualized value of recurring revenue from subscription contracts that have commenced revenue recognition as of the end of the reporting period and the annualized value of revenue from our Spend Management product, which is calculated as four times the trailing three months of revenue as of the end of the reporting period.

ARR highlights trends that may be difficult to ascertain from a review of our consolidated financial statements due to ratable revenue recognition. ARR does not have a standardized definition and is not necessarily comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue prepared in accordance with GAAP and is not intended to be combined with or to replace it. ARR is not intended to be a forecast of future revenue or expected results, and the active contracts at the date used in calculating ARR may or may not be extended or renewed. The graph below shows ARR at the end of each quarter indicated.

![mda1a.jpg](mda1a.jpg)

***Number of customers with ARR greater than $100,000***

We believe that the number of Large Customers is a key business metric to measure our business because it reflects our performance and ability to maintain and expand our relationship with larger organizations.

We define Large Customers as business entities or organizations with one or more paid subscriptions to one or more of our products, or revenue from Spend Management, that contributed more than $100,000 in ARR as of a particular date. A single organization with multiple divisions, segments, or subsidiaries is generally counted as a single customer, even though we may enter into agreements with multiple parties within that organization. However, in cases where we do not have sufficient information to determine

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whether multiple parties are affiliated, we may count them as separate customers. Our customer count is also subject to adjustments for acquisitions, consolidations, spin-offs, and other market activity.

![mda2a.jpg](mda2a.jpg)

**Key factors affecting our performance**

We believe the growth and success of our business depend on a number of key factors. While these factors present significant opportunities for our business, they also present the challenges that we must successfully address to continue to drive and sustain our growth.

***Core Customer base expansion***

We believe there remains a significant opportunity to further expand our Core Customer base. These organizations face complex operational challenges, but continue to rely on legacy offerings or nothing at all. We intend to capture this opportunity by continuing to invest in sales and marketing to drive adoption of our platform.

Our platform addresses challenges organizations in the physical economy face by enabling safety, operations, and finance teams to manage their workers, vehicles, equipment, and spend within a single system. This value proposition is expected to be a key driver of our ability to continue to acquire larger organizations as customers. As of December 31, 2024, we had over 350 Large Customers, which represented approximately 30% of our total ARR. The number of Large Customers increased by 49% between December 31, 2023 and December 31, 2024, and ARR from these Large Customers increased by 71% over the same period.

***Multi-product adoption***

We believe the strength of our platform is demonstrated by the strong and increasing multi-product adoption rate of our customers. This is particularly evident among our Core Customers, where multi-product adoption rates have consistently increased over 2023 and 2024.

As of December 31, 2024, approximately 89% of our Core Customers had adopted two or more of our products, compared to 85% as of December 31, 2023, and approximately 40% of our Core Customers had adopted three or more of our products, compared to 30% as of December 31, 2023. A product is

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defined as one of Fleet Management, Driver Safety, Equipment Monitoring, Workforce Management, AI Vision, or Spend Management.

![mda3ba.jpg](mda3ba.jpg)

***Expansion with existing customers***

We are focused on driving continued expansion among our existing customers through adopting multiple products across our platform and capturing additional workers, vehicles, and equipment within each customer's operations. Our ability to expand within our customer base will depend on a number of factors, including our customers' satisfaction, pricing, competition, and changes in our customers' spending levels.

We calculate our NDR at the end of a period as of a measurement date by starting with our ARR from the cohort of active customers as of 12 months prior to such measurement date (the "Prior Period ARR"). We then calculate the ARR for those same customers as of the applicable period of measurement (the "Current Period ARR"). We then divide the Current Period ARR by the Prior Period ARR to calculate the NDR for the applicable measurement date. Our NDR reflects customer expansion, contraction, and customer churn. To calculate NDR for Core Customers and Large Customers, we consider the cohort of active customers as of 12 months prior to such measurement date and who have met or exceeded $10,000 ARR, in the case of Core Customers, and $100,000 ARR, in the case of Large Customers, during their lifetime as a customer. As of December 31, 2024, our Core Customers had an NDR of 110% while our Large Customers had an NDR of 124%.

***International expansion***

We view international expansion as a substantial long-term growth opportunity for our business. In 2024, our customers in the United States and Canada accounted for more than 99% of our revenue. We have begun building our international presence with sales operations in Mexico in 2024 and the United Kingdom in 2025. We intend to continue investing in and expanding our international operations, including localized product development and go-to-market capabilities, to serve customers in new geographies.

***Continuous product innovation***

We intend to continue developing innovative products, guided by a company culture that is customer-centric and problem seeking.

We actively engage with customers to understand their needs, and when we identify challenges that are both meaningful and shared across our customer base, we move quickly to build solutions. For example, based on customer feedback, we recently developed an AI model for the waste industry to detect contamination by identifying non-compliant materials in collected waste. We were able to build a prototype within weeks for a solution that could potentially be applied across over 140,000 waste and recycling trucks in North America. We translate customer needs into solutions with speed and scale, and

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we intend to continue to invest in our research and development capabilities, including introducing new products to our platform for a wide range of use cases.

**Key components of results of operations**

***Revenue***

In 2023 and 2024, the vast majority of our revenue, approximately 95% and 92% respectively, was derived from subscriptions to our Integrated Operations Platform. Spend Management contributed approximately 2% and 3% to our revenue in 2023 and 2024, respectively. The rest of our revenue in both years came from hardware-related charges and other ancillary revenue streams.

We generate revenue primarily from subscriptions to access and use our platform priced on a per asset, per product basis along with an integrated suite of hardware devices. Our contract terms vary, but typically span three years, and are generally noncancellable with automatic renewal for subsequent one-year terms. Our subscription arrangements reflect a combined performance obligation to access and use our Integrated Operations Platform. The platform is not distinct from the related hardware devices because the platform is highly interdependent and interrelated with the hardware devices, as both comprise a series of distinct services that work together to transform high volumes of operational data to provide customers with predictive, AI-driven insights throughout the customer's subscription term. Revenue derived from the combined performance obligation to access and use our platform is recognized ratably over the customer's subscription term, beginning when control of the services is transferred to the customer.

Revenue earned from our Spend Management product is primarily earned through interchange revenue and rebate revenue from the Motive partner network. Interchange revenue is earned under an agreement with a third-party card program manager to process Motive Card transactions and manage the relationship with the issuing bank and the card network. Interchange revenue is recognized when transactions are processed, net of fees for third-party services. We also earn revenue from our partner network by entering into arrangements with strategic partners to establish and enhance brand loyalty, whereby we earn fee rebates on qualifying purchases made by Motive cardholders. Revenue from our partner network is recognized when the qualifying purchase occurs, net of incentives paid to cardholders on qualifying purchases or other milestones.

Other revenue in both years primarily came from hardware-related charges and accessories, professional services, and shipping and handling fees.

We anticipate our revenue to increase as we expand our business with both new and current customers across new and established markets.

***Cost of revenue***

The main components of our cost of revenue include the amortization of deferred expenses related to hardware devices, warranty-related expenditures, costs associated with software hosting, data networks expenses, and employee-related costs for customer support, such as salaries and benefits. Additionally, it includes the amortization of capitalized internal-use software development costs, depreciation of property and equipment and allocated overhead expenses.

We expect our cost of revenue will continue to increase in absolute dollars as our business grows and will fluctuate as a percentage of our revenue from period to period depending on the timing of continued investments in our platform or other unforeseen expenses. However, as we continue to scale our operations, we anticipate our gross margin to improve over time as a result of a reduction in amortization of device costs and data network expenses, driven by product efficiencies, economies of scale, and procurement strategies.

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***Operating expenses***

*Sales and marketing*

Sales and marketing expenses consist primarily of employee-related costs such as salaries, sales commissions, related benefits, and stock-based compensation for our sales and marketing employees. Sales and marketing expenses also include expenses related to marketing and advertising efforts such as online marketing campaigns, events, social media, public relations, and branding, as well as travel and entertainment and allocated overhead costs.

We expect that our sales and marketing expenses will increase in absolute dollars as our business grows and we continue to scale and invest in our go-to-market organization. We anticipate that our sales and marketing expenses will remain a relatively consistent percentage of revenue in the near term, then decrease as a percentage of our revenue over time. Depending on the timing of our investments, our sales and marketing expenses as a percentage of our revenue may still fluctuate from period to period.

*Research and development*

Research and development expenses consist primarily of employee-related costs such as salaries, related benefits, and stock-based compensation for our product development employees. Research and development expenses also include third-party services for product development, consulting expenses, depreciation expense related to equipment used in research and development activities, and allocated overhead costs.

We expect that our research and development expenses will increase in absolute dollars as we continue to invest in our platform. However, we anticipate that research and development expenses will decrease as a percentage of our revenue over time. Depending on the timing of our investments or other unforeseen expenses, research and development expenses as a percentage of our revenue may still fluctuate from period to period.

*General and administrative*

General and administrative expenses consist primarily of employee-related costs such as salaries, related benefits, and stock-based compensation for our executive, finance, legal, people operations, IT, and other administrative functions. General and administrative expenses also include professional fees and services, primarily litigation expenses, in addition to expensed software costs, bank fees, provision for credit losses, and allocated overhead costs.

Following the closing of this offering, we expect to incur additional expenses as a result of operating as a public company, including costs to comply with the rules and regulations applicable to companies listed on a national securities exchange, costs related to compliance and reporting obligations, and increased expenses for directors and officers insurance, investor relations, and professional services. We expect that our general and administrative expenses will increase in absolute dollars as our business grows but will decrease as a percentage of our revenue over time. However, depending on the timing of our investments or other unforeseen expenses such as increased litigation expenses, general and administrative expenses as a percentage of our revenue may still fluctuate from period to period.

*Legal settlement*

Legal settlement expenses consist of estimated loss contingencies or known settlements related to certain legal cases.

*Operating lease impairment and abandonment*

Operating lease impairment and abandonment expenses consist of impairment charges related to the sublease of certain portions of our leased office space and expenses related to the abandonment of other portions of our leased office space.

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*Restructuring*

Restructuring costs consist of charges related to employee severance payments and termination benefits as a result of a restructuring plan that we undertook in July 2023 to prioritize specific company initiatives, resulting in a 5% reduction in headcount.

***Other expense, net***

Other expense, net consists primarily of interest expense, change in fair value of the derivative liability, and other items including interest income and translation gain or loss on foreign exchange.

***Provision for income taxes***

Provision for income taxes consists primarily of income taxes related to foreign jurisdictions and U.S. federal and state income taxes. We maintain a full valuation allowance on our U.S. federal and state net deferred tax assets as we have concluded that it is not more likely than not that the deferred tax assets will be realized.

**Results of operations**

The following table sets forth our consolidated statements of operations data for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages):** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Revenue | $310309 | $370450 | $60141 | 19% |
| Cost of revenue<sup>(1)</sup> | 91161 | 111901 | 20740 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 219148 | 258549 | 39401 | 18 |
| Operating expenses<sup>(1)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 139609 | 180083 | 40474 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 94369 | 98716 | 4347 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 62951 | 87456 | 24505 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal settlement | 1800 | 4201 | 2401 | 133 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease impairment and abandonment | 7433 |  | (7433) | (100) |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring | 2188 |  | (2188) | (100) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 308350 | 370456 | 62106 | 20 |
| Loss from operations | (89202) | (111907) | (22705) | 25 |
| Other expense, net | (18963) | (40326) | (21363) | 113 |
| Loss before income taxes | (108165) | (152233) | (44068) | 41 |
| Provision for income taxes | (602) | (752) | (150) | 25 |
| Net loss | $(108767) | $(152985) | $(44218) | 41% |

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(1)Includes stock-based compensation expense, net of amounts capitalized, as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Cost of revenue | $1 | $— |
| Sales and marketing | 403 | 100 |
| Research and development | 1066 |  |
| General and administrative | 1295 | 1080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stock-based compensation expense | $2765 | $1180 |

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The following table sets forth our consolidated statements of operations data expressed as a percentage of revenue for the periods indicated:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,**<sup>(1)</sup> | **Year ended December 31,**<sup>(1)</sup> |
| | **2023** | **2024** |
| Revenue | 100% | 100% |
| Cost of revenue | 29 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 71 | 70 |
| Operating expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 45 | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 30 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 20 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal settlement | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease impairment and abandonment | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 99 | 100 |
| Loss from operations | (29) | (30) |
| Other expense, net | (6) | (11) |
| Loss before income taxes | (35) | (41) |
| Provision for income taxes |  |  |
| Net loss | (35)% | (41)% |

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(1)Percentages may not foot due to rounding.

**Comparison of the years ended December 31, 2023 and 2024**

***Revenue***

The following table presents our revenue for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages):** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Revenue | $310309 | $370450 | $60141 | 19% |

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Revenue increased by $60.1 million, or 19%, in 2024 compared to 2023. Subscription revenue increased $48.0 million due to increased sales to new and existing customers. Additionally, Spend Management revenue increased by $5.0 million due to higher adoption of the product. The remaining increase of $7.1 million was due to increases in other revenue streams, primarily from increased professional services.

***Cost of revenue***

The following table presents our cost of revenue for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages):** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Cost of revenue | $91161 | $111901 | $20740 | 23% |

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Cost of revenue increased by $20.7 million, or 23%, in 2024 compared to 2023, primarily due to a $18.0 million increase in the amortization of hardware devices, with more units fulfilled as a result of our subscription revenue growth.

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***Gross profit and gross margin***

The following table presents our gross profit and gross margin for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Gross profit | $219148 | $258549 | $39401 | 18% |
| Gross margin | 71% | 70% |  |  |

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Gross profit increased by $39.4 million, or 18%, in 2024 compared to 2023 with our continued growth. Gross margin in 2024 was 70%, relatively consistent with 71% in 2023.

***Sales and marketing***

The following table presents our sales and marketing expenses for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Sales and marketing | $139609 | $180083 | $40474 | 29% |

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Sales and marketing expenses increased by $40.5 million, or 29%, in 2024 compared to 2023, primarily due to an increase in employee-related costs of $31.6 million from the expansion of our sales teams. The remaining increase of $8.9 million was primarily due to a $6.1 million increase related to online marketing campaigns and events.

***Research and development***

The following table presents our research and development expenses for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Research and development | $94369 | $98716 | $4347 | 5% |

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Research and development expenses increased by $4.3 million, or 5%, in 2024 compared to 2023, primarily due to an increase in employee-related costs of $5.4 million from the expansion of our product and engineering teams. This increase was partially offset by a $1.3 million reduction in allocated overhead costs as we downsized our office lease footprint in the United States.

***General and administrative***

The following table presents our general and administrative expenses for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| General and administrative | $62951 | $87456 | $24505 | 39% |

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General and administrative expenses increased by $24.5 million, or 39%, in 2024 compared to 2023, primarily as a result of increased litigation expenses of $25.8 million. Refer to Note 6 "Commitments and contingencies" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus for further details.

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***Legal settlement***

The following table presents our legal settlement expenses for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Legal settlement | $1800 | $4201 | $2401 | 133% |

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Legal settlement expenses increased by $2.4 million, or 133%, in 2024 compared to 2023. In 2023, we recorded a $1.8 million expense related to a settlement agreement of a patent infringement dispute. In 2024, we recorded a $4.2 million expense related to the settlement of a class action complaint.

***Operating lease impairment and abandonment***

The following table presents our operating lease impairment and abandonment expenses for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Operating lease impairment and abandonment | $7433 | $— | $(7433) | (100)% |

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Operating lease impairment and abandonment expenses decreased by $7.4 million in 2024 compared to 2023. We recorded $3.6 million of impairment charges related to the sublease of certain portions of our leased office space and $3.8 million related to the abandonment of other portions of our leased office space, both of which were recognized in 2023 and did not recur in 2024.

***Restructuring***

The following table presents our restructuring charges for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Restructuring | $2188 | $— | $(2188) | (100)% |

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Restructuring charges decreased by $2.2 million in 2024 compared to 2023 due to one-time charges related to employee severance payments and termination benefits as a result of a restructuring plan we undertook in July 2023.

***Other expense, net***

The following table presents our other expense, net for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Other expense, net | $(18963) | $(40326) | $(21363) | 113% |

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Other expense, net increased by $21.4 million, or 113%, in 2024 compared to 2023, primarily due to a $12.3 million gain recorded in 2023, as the value of the embedded derivative associated with the 2019 Convertible Notes decreased as a result of the adjusted timeline for the associated exit events. There was also an increase in interest expense of $4.3 million resulting from the incremental draw down of term loans pursuant to the Credit Agreement in 2024. Additionally, there was a decrease in other income of $3.6 million resulting from a reduction in interest income from lower cash and cash equivalents held in 2024 compared to 2023, as well as lower yields earned on money market and demand deposit accounts.

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***Provision for income taxes***

The following table presents our provision for income taxes for the periods indicated:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | | |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |<br>**$ Change** |<br>**% Change** |
| Provision for income taxes | $(602) | $(752) | $(150) | 25% |

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Provision for income taxes increased by $0.2 million, or 25%, in 2024 compared to 2023, primarily due to growth in our foreign operations.

**Non-GAAP financial measures**

To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we consider certain financial measures that are not prepared in accordance with GAAP, as described below, to understand and evaluate our operating performance. These non-GAAP financial measures, which may be different than similarly-titled measures used by other companies, are presented to enhance investors' overall understanding of our financial performance and should not be considered substitutes for, or superior to, the financial information prepared and presented in accordance with GAAP.

We use non-GAAP loss from operations and non-GAAP operating margin in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP loss from operations and non-GAAP operating margin provide our management team and investors consistency and comparability with our past financial performance and facilitates period-to-period comparisons of operations, as they are non-recurring or outside the ordinary course of business, other than stock-based compensation expense.

We use adjusted unlevered free cash flow and adjusted unlevered free cash flow margin to analyze cash flow generated from or used in our operations. We believe information regarding adjusted unlevered free cash flow provides useful information to management and investors in understanding the strength of liquidity and available cash. Adjusted unlevered free cash flow is a supplemental liquidity measure that our management uses to evaluate our core operating business and our ability to meet our current and future financing and investing needs.

Non-GAAP loss from operations, non-GAAP operating margin, adjusted unlevered free cash flow and adjusted unlevered free cash flow margin have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. Some of these limitations include:

• Non-GAAP loss from operations excludes stock-based compensation expense to allow investors to make more meaningful comparisons of our performance between periods. Stock-based compensation expense may vary between periods due to various factors unrelated to our core operating performance, including as a result of the assumptions used in the valuation methodologies, timing and amount of grants, the closing of this offering, and other factors. Moreover, stock-based compensation expense is a non-cash expense that is sometimes excluded from our internal management reporting processes and when assessing our actual performance, and forecasting future periods.

• Non-GAAP loss from operations excludes restructuring charges. We excluded these charges from our internal management reporting process when assessing our actual performance as we consider them to be nonrecurring in nature.

• Non-GAAP loss from operations excludes operating lease impairment and abandonment charges. We excluded these changes from our internal management reporting process when assessing our actual performance as we consider them to be outside the ordinary course of business and nonrecurring in nature.

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• Non-GAAP loss from operations does not reflect certain legal settlements that we have determined arose outside of the ordinary course of business and are nonrecurring, infrequent and unusual.

• Non-GAAP loss from operations and adjusted unlevered free cash flow do not reflect certain litigation expenses related to specific proceedings that we have determined arose outside the ordinary course of business and are nonrecurring, infrequent and unusual based on the following considerations which we assess regularly: (i) the frequency of similar cases that have been brought to date, or are expected to be brought; (ii) the complexity of the case; (iii) the nature of the remedies including the size of any monetary damages sought; (iv) the counterparty involved; and (v) our overall litigation strategy.

• Adjusted unlevered free cash flow does not represent the total residual cash flow available for discretionary purposes because it does not reflect our contractual commitments or obligations, does not represent the total increase or decrease in our cash balance for any given period, and does not reflect our mandatory debt service requirements.

***Non-GAAP loss from operations and non-GAAP operating margin***

We define non-GAAP loss from operations as loss from operations excluding the effect of stock-based compensation expense, lease impairment and abandonment charges, certain legal settlement expenses, certain litigation expenses and restructuring charges. Non-GAAP operating margin is defined as non-GAAP loss from operations as a percentage of revenue.

The following is a reconciliation of loss from operations to non-GAAP loss from operations, as well as the calculation of operating loss margin and non-GAAP operating margin, for the periods presented.

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |
| Loss from operations | $(89202) | $(111907) |
| &nbsp;&nbsp;&nbsp;&nbsp;Litigation expenses<sup>(1)</sup> |  | 24443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal settlement<sup>(2)</sup> | 1800 | 4201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 2765 | 1180 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease impairment and abandonment<sup>(3)</sup> | 7433 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring<sup>(4)</sup> | 2188 |  |
| Non-GAAP loss from operations | $(75016) | $(82083) |
| Revenue | $310309 | $370450 |
| Operating loss margin | (29)% | (30)% |
| Non-GAAP operating margin | (24)% | (22)% |

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(1)In 2024, we recorded $24.4 million in litigation expenses related to certain patent infringement, trade secret misappropriation, and other claims made against us, which were outside of the ordinary course of business. See Note 6 "Commitments and contingencies" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus for further details on certain of these cases.

(2)In 2023, we recorded a $1.8 million expense related to a settlement agreement of a patent infringement dispute. In 2024, we recorded a $4.2 million expense related to the settlement of a class action complaint.

(3)In 2023, we incurred charges on certain right-of-use assets and other long-lived assets as a result of the decision to abandon or sublease certain leased office space that was no longer used.

(4)In 2023, we implemented workforce reductions to better align our strategic priorities with our investments. In connection with these reductions, we incurred employee-related expenses including severance and other termination benefits.

***Adjusted unlevered free cash flow and adjusted unlevered free cash flow margin***

We define adjusted unlevered free cash flow as net cash used in operating activities, less cash used for purchases of property and equipment (which includes internal-use software development costs), plus cash used for certain items that we consider to be nonrecurring, infrequent, or unusual based on the considerations outlined above, specifically litigation expenses paid during the year related to specific proceedings that we have determined arise outside the ordinary course of business, and cash paid for

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interest. Adjusted unlevered free cash flow margin is defined as adjusted unlevered free cash flow as a percentage of revenue.

The following is a reconciliation of net cash used in operating activities to adjusted unlevered free cash flow, as well as the calculation of net cash used in operating activities as a percentage of revenue and adjusted unlevered free cash flow margin, for the periods presented:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands, except percentages)** | **2023** | **2024** |
| Net cash flows used in operating activities | $(107172) | $(75807) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (2747) | (4327) |
| Free cash flow | (109919) | (80134) |
| &nbsp;&nbsp;&nbsp;&nbsp;Litigation expenses paid<sup>(1)</sup> |  | 5100 |
| Adjusted free cash flow | (109919) | (75034) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest paid<sup>(2)</sup> | 23059 | 28342 |
| Adjusted unlevered free cash flow | $(86860) | $(46692) |
| Revenue | $310309 | $370450 |
| Net cash flows used in operating activities as a percentage of revenue | (35)% | (20)% |
| Adjusted unlevered free cash flow margin | (28)% | (13)% |
| Net cash flows used in investing activities | $(2747) | $(4327) |
| Net cash flows provided by financing activities | $270 | $49371 |

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(1)For 2024, the amount represents the portion of the $24.4 million in litigation expenses paid related to the patent infringement, trade secret misappropriation and other claims made against us discussed above.

(2)Interest paid amounts represent interest paid on term loans drawn under the Credit Agreement.

**Quarterly results of operations and other data**

The following tables set forth our unaudited quarterly consolidated statement of operations data for the four quarters in 2023, as well as the percentage that each line item represents of our revenue for each quarter presented. The unaudited quarterly statement of operations data set forth below have been prepared on a basis consistent with our consolidated financial statements and include, in the opinion of management, all normal recurring adjustments necessary for a fair statement of the financial information for these periods. Our historical results are not necessarily indicative of our future performance. The following quarterly financial data should be read in conjunction with our consolidated financial statements and the accompanying notes included elsewhere in this prospectus.

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***Quarterly Consolidated Statements of Operations***

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** |
|<br>**(in thousands)** | **Mar. 31, 2023** | **Jun. 30, 2023** | **Sep. 30, 2023** | **Dec. 31, 2023** |
| Revenue | $72035 | $75810 | $79697 | $82767 |
| Cost of revenue<sup>(1)</sup> | 21569 | 22182 | 23153 | 24257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 50466 | 53628 | 56544 | 58510 |
| Operating expenses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing<sup>(1)</sup> | 35470 | 35065 | 34275 | 34799 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development<sup>(1)</sup> | 24106 | 23062 | 23583 | 23618 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative<sup>(1)</sup> | 17502 | 15463 | 14919 | 15067 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal settlement |  |  | 1800 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease impairment and abandonment |  |  | 3612 | 3821 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring |  |  | 2188 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 77078 | 73590 | 80377 | 77305 |
| Loss from operations | (26612) | (19962) | (23833) | (18795) |
| Other expense, net | (2809) | (5752) | (4919) | (5483) |
| Loss before income taxes | (29421) | (25714) | (28752) | (24278) |
| Provision for income taxes | (128) | (129) | (149) | (196) |
| Net loss | $(29549) | $(25843) | $(28901) | $(24474) |

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(1)Includes stock-based compensation expense, net of amounts capitalized, as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** |
|<br>**(in thousands)** | **Mar. 31, 2023** | **Jun. 30, 2023** | **Sep. 30, 2023** | **Dec. 31, 2023** |
| Cost of revenue | $— | $1 | $— | $— |
| Sales and marketing | 83 | 154 | 92 | 74 |
| Research and development | 573 | 112 | 220 | 161 |
| General and administrative | 399 | 281 | 331 | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stock-based compensation expense | $1055 | $548 | $643 | $519 |

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***Quarterly consolidated statements of operations, as a percentage of revenue***

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended**<sup>(1)</sup> | **Three months ended**<sup>(1)</sup> | **Three months ended**<sup>(1)</sup> | **Three months ended**<sup>(1)</sup> |
| | **Mar. 31, 2023** | **Jun. 30, 2023** | **Sep. 30, 2023** | **Dec. 31, 2023** |
| Revenue | 100% | 100% | 100% | 100% |
| Cost of revenue | 30 | 29 | 29 | 29 |
| Gross profit | 70 | 71 | 71 | 71 |
| Operating expenses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 49 | 46 | 43 | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 33 | 30 | 30 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 24 | 20 | 19 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal settlement |  |  | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease impairment and abandonment |  |  | 5 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring |  |  | 3 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 107 | 97 | 101 | 93 |
| Loss from operations | (37) | (26) | (30) | (23) |
| Other expense, net | (4) | (8) | (6) | (7) |
| Loss before income taxes | (41) | (34) | (36) | (29) |
| Provision for income taxes |  |  |  |  |
| Net loss | (41)% | (34)% | (36)% | (30)% |

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(1)Percentages may not foot due to rounding.

***Quarterly revenue trends***

Our revenue increased in each of the quarters presented primarily due to growth from new and existing customer subscriptions to our platform. We recognize revenue ratably over the term of our subscription contracts and as a result, a substantial portion of the revenue we report in a period is attributable to contracts we entered into in prior periods. Therefore, increases or decreases in sales to new and existing customers in a period may not be immediately reflected in revenue for the period.

***Quarterly cost of revenue trends***

Our cost of revenue increased sequentially in each of the quarters presented, primarily as a result of increased amortization expense from hardware devices as more units were fulfilled with the growth in subscription revenue.

***Quarterly sales and marketing trends***

Our sales and marketing expenses have remained relatively consistent in the quarters presented in both dollar terms and as a percentage of revenue. The timing of advertising campaigns and events can impact the trends in sales and marketing expenses.

***Quarterly research and development trends***

Our research and development expenses have remained relatively consistent in the quarters presented in dollar terms. During the three months ended March 31, 2023, our research and development costs were higher as a percentage of revenue as certain employer payroll taxes and 401(k) benefit matching expenses are higher at the beginning of the year before employees reach their respective limits.

***Quarterly general and administrative trends***

Our general and administrative expenses have generally decreased in the quarters presented. The decrease in our general and administrative expenses during the three months ended June 30, 2023 was

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due to a reduction in the provision for credit losses as a result of more favorable collections from customers and lower employee costs as a result of severance costs that were incurred for certain employees during the three months ended March 31, 2023.

***Quarterly other expense, net trends***

Changes in other expense, net in the quarters presented are primarily driven by fluctuations in interest rates that impact the interest we pay on our term loans under the Credit Agreement, the amount of term loans drawn down, and changes in fair value of our embedded derivative.

**Liquidity and capital resources**

As of December 31, 2024, we had total liquidity sources of $51.5 million, which consisted of $48.0 million in cash and cash equivalents comprised primarily of money market funds and demand deposits, and $3.5 million in restricted cash due to outstanding letters of credit for our leased office space. Between May 2025 and July 2025, we raised an additional $150.0 million in cash and cash equivalents through the sale and issuance of the 2025 Convertible Securities. We believe our total liquidity sources on hand, together with our operating cash flows, will be sufficient to meet our working capital and capital expenditure requirements for a period of at least 12 months from the date of this prospectus. We expect our operating cash flow requirements to continue to increase in the immediate future as we continue to invest in the expansion of our products and services.

Our future capital requirements will depend on many factors, including our subscription revenue growth rate, customer renewal activity, the timing and the amount of cash received from customers, the expansion of sales and marketing activities, the timing and extent of spending to support research and development efforts, the introduction of new and enhanced products, and the continuing market adoption of our platform. In addition, macroeconomic factors such as changes in tariffs and trade restrictions, labor shortages, supply chain disruptions, fluctuating interest rates, inflation, and geopolitical instability could increase our capital requirements. We may in the future enter into arrangements to acquire or invest in complementary businesses, services, and technologies, including intellectual property rights. We continue to assess our capital structure and evaluate the merits of deploying available cash. We may be required to seek additional equity or debt financing. In the event that additional financing is required from outside sources, we may not be able to raise it on terms acceptable to us or at all. If we are unable to raise additional capital when desired, or if we cannot expand our operations or otherwise capitalize on our business opportunities because we lack sufficient capital, our business, operating results, and financial condition would be adversely affected.

***Sources of liquidity***

Since our inception, we have financed our operations primarily through proceeds from the sale and issuance of $428.1 million of our convertible preferred stock, the 2019 Convertible Notes, the 2025 Convertible Securities, borrowings under the Credit Agreement and cash collections from our customers.

*Term Loans*

In April 2021, we entered into the Credit Agreement with each of the various lender parties thereto for the issuance of a term loan in an aggregate principal amount of $75.0 million and the extension of an additional term loan in an aggregate principal amount of up to $25.0 million. During 2021, we drew the full amounts on these initial term loans. During 2021 and 2022, we entered into various amendments to the Credit Agreement which provided additional term loans to us in aggregate principal amounts of $100.0 million. In June 2024, we further amended and restated the Credit Agreement to provide for the issuance of an additional term loan in an aggregate principal amount of $50.0 million. Collectively, these term loan borrowings of $250.0 million (the "Term Loans") are set to mature on April 8, 2027.

See Note 8 "Debt" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus for a summary of our Term Loans as of December 31, 2023 and 2024, respectively.

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*2025 convertible securities financing*

In May 2025, we sold and issued convertible securities, raising an aggregate amount equal to $117.8 million, and in July 2025, we sold and issued additional convertible securities, raising $32.2 million. The 2025 Convertible Securities are convertible into an applicable series of capital stock or become due and payable upon certain specified conditions or upon maturity in May 2032.

See Note 14 "Subsequent events" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus for a summary of the Convertible Securities Financing.

***Cash flows***

The following table summarizes our cash flows for the periods presented:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Net cash flows used in operating activities | $(107172) | $(75807) |
| Net cash flows used in investing activities | $(2747) | $(4327) |
| Net cash flows provided by financing activities | $270 | $49371 |

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*Operating activities*

During 2023, net cash flows used in operating activities was $107.2 million. The primary factors affecting our operating cash flows during this period were our net loss of $108.8 million and net cash outflows of $24.7 million from changes in our operating assets and liabilities, adjusted for $26.3 million in non-cash charges. The cash used from changes in our operating assets and liabilities primarily included $36.4 million in deferred device costs and $11.5 million in inventory which reflect the growth in units purchased as a result of our revenue growth and a $10.1 million decrease in accounts receivable, net, reflecting an increase in accounts receivable from the continued growth of customers with payment terms rather than due upon receipt of invoice. These amounts were partially offset by cash flows provided by operating assets and liabilities, including a $28.3 million increase in deferred revenue as a result of increased upfront billings from the continued growth in our customer base and a $14.4 million increase in accounts payable and accrued expenses as a result of our increased operating expenses from the continued growth of our business. The non-cash charges primarily consisted of $7.4 million lease impairment and abandonment expense, $6.9 million in non-cash interest expense, $6.5 million in depreciation and amortization expenses, $6.1 million in non-cash operating lease costs, and $5.1 million in amortization of debt discount expenses, partially offset by a $12.0 million gain from the change in fair value of the embedded derivative associated with the 2019 Convertible Notes.

During 2024, net cash flows used in operating activities was $75.8 million. The primary factors affecting our operating cash flows during this period were our net loss of $153.0 million, which was partially offset by net cash inflows of $48.4 million from changes in our operating assets and liabilities, adjusted for $28.8 million in non-cash charges. The cash provided from changes in our operating assets and liabilities was primarily due to a $75.3 million increase in deferred revenue as a result of the increased upfront billings from the continued growth in our customer base and a $44.2 million increase in accounts payable and accrued expenses as a result of our increased operating expenses, particularly legal expenses. These amounts were partially offset by cash flows used in our operating assets and liabilities, which included $36.4 million in deferred device costs that reflect the growth in units purchased as a result of our revenue growth, a $20.0 million decrease in accounts receivable, net that reflect an increase in accounts receivable from the continued growth of customers with payment terms rather than due upon receipt of invoice, and a $12.7 million decrease in deferred commissions caused by increased commission costs related to the increase in revenue. The non-cash charges primarily consisted of $7.4 million in non-cash interest expense, $6.1 million in depreciation and amortization expenses, $5.5 million in amortization of debt discount expenses, and $4.3 million provision for credit losses.

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*Investing activities*

Net cash flows used in investing activities during 2023 was $2.7 million. This was due to the purchase of property and equipment, particularly internal-use software.

Net cash flows used in investing activities during 2024 was $4.3 million. This was due to the purchase of property and equipment, particularly internal-use software and computer equipment.

*Financing activities*

Net cash flows provided by financing activities during 2023 was $0.3 million, which was primarily due to the proceeds from the exercise of stock options.

Net cash flows provided by financing activities during 2024 was $49.4 million, which was primarily due to the drawdown of term loans pursuant to the Credit Agreement, net of discounts and issuance costs.

***Contractual obligations***

The following table summarizes our minimum commitments for software, software hosting, and data network expenses, as well as other non-cancelable obligations as follows, as of December 31, 2024 (in thousands):

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| | |
|:---|:---|
| **Fiscal years ending** | **Minimum annual commitments** |
| 2025 | $20328 |
| 2026 | 18269 |
| 2027 | 7021 |
| &nbsp;&nbsp;&nbsp;Total future minimum commitments | $45618 |

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In addition to the contractual obligations set forth above, we also lease office facilities under operating lease agreements with lease terms that expire at various dates through 2028. Our cash requirements related to these lease agreements are $8.1 million, of which $5.3 million is expected to be paid within the next 12 months. See Note 5 "Leases" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus for further detail on our operating lease obligations.

***Off-balance sheet arrangements***

As of December 31, 2023 and December 31, 2024, we did not have any relationships with unconsolidated organizations or financial partnerships, such as structured finance or special purpose entities, that would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

**Quantitative and qualitative disclosures about market risk**

We have operations both within the United States and internationally, and we are exposed to market risks in the ordinary course of business. These risks primarily include interest rate, foreign exchange, and inflation risks.

***Interest rate risk***

As of December 31, 2024, we held cash and cash equivalents of $48.0 million. In addition, we have $3.5 million of restricted cash due to outstanding letters of credit for our leased office space. Our cash equivalents are primarily money market funds and demand deposits, which are intended to preserve capital and maintain liquidity. We hold our cash and cash equivalents primarily for working capital and operational purposes, and we do not invest for trading or speculative purposes. We also have $250.0 million in Term Loans with various lending institutions that are due to mature in April 2027.

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Our exposure to market risk for changes in interest rates is primarily limited to the interest income generated on our cash and cash equivalents, as well as outstanding debt obligations with variable interest rates. Changes in interest rates can affect the interest income we earn and the interest expense that we pay. A hypothetical 100 basis point increase or decrease in interest rates would not have materially affected our consolidated financial statements.

***Foreign currency exchange risk***

The U.S. dollar serves as our reporting currency and the functional currency for our foreign subsidiaries. Although a substantial majority of our revenue and operating expenses are denominated in U.S. dollars, we are exposed to foreign currency risks associated with revenue and operating expenses denominated in currencies other than the U.S. dollar, including the Canadian dollar, Mexican Peso, and Pakistani Rupee. Our operating expenses are denominated in the currencies of the countries where our operations are situated. Our consolidated results of operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates. We have not engaged in hedging activities to mitigate our foreign currency exchange risk; however, such activities may be undertaken in the future if we foresee significant foreign currency risk. A hypothetical 10% increase or decrease in the relative value of the U.S. dollar would not have materially impacted our consolidated financial statements for the periods presented.

***Inflation risk***

We do not consider inflation to have significantly impacted our business, operational outcomes, or financial health. However, should our expenses face substantial inflationary pressures, we might not be able to completely offset these increased costs. Failing to manage this effectively could negatively affect our business, operating results, or financial condition.

**Critical accounting estimates**

Our consolidated financial statements and the accompanying notes included elsewhere in this prospectus are prepared in accordance with GAAP. The preparation of our consolidated financial statements also requires us to make estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses, as well as the disclosure of contingent assets and liabilities.

The most significant accounting policies involving management judgments and estimates include revenue recognition, amortization periods of deferred costs, stock-based compensation, common stock valuation, and fair value of derivative liability. We believe these accounting policies involve a substantial degree of judgment and complexity. Accordingly, these are the policies we believe are the most critical to aid in fully understanding and evaluating our consolidated financial condition and results of operations.

We base our estimates and assumptions on historical experience and various other factors that we believe to be reasonable under the circumstances. Actual results could differ significantly from the estimates made by management. To the extent that there are differences between our estimates and actual results, our future financial statement presentation, financial condition, results of operations, and cash flows will be affected.

We periodically review these critical accounting policies and estimates to ensure that they remain appropriate and reflect any changes in our business or the economic environment. Any changes in these estimates or assumptions could have a significant impact on our financial position and results of operations.

***Revenue recognition***

Our revenue recognition policy is based on the guidance provided by Accounting Standards Codification ("ASC") 606, *Revenue from Contracts with Customers,* which establishes a comprehensive framework for determining how and when revenue is recognized. Significant judgment is required for each of the following steps:

1. identify the contract with a customer;

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2. identify the performance obligations in the contract;

3. determine the transaction price;

4. allocate the transaction price to the performance obligations; and

5. recognize revenue when (or as) the entity satisfies a performance obligation.

Determining whether the subscriptions to our platform and the hardware devices represent a distinct or combined performance obligation involves subjective determinations and requires management to make significant judgments about the individual goods or services promised to the customer, which can ultimately impact the timing of revenue recognition. We determined that our arrangements reflect a combined performance obligation to access and use our Integrated Operations Platform. The platform is not distinct from the related hardware devices because the platform is highly interdependent and interrelated with the hardware devices as both comprise a series of distinct services that work together to transform high volumes of operational data to provide customers with predictive, AI-driven insights throughout the customer's subscription term.

Revenue derived from the combined performance obligation to access and use our platform is recognized ratably over the customer's subscription term beginning when control of the services is transferred to the customer. We determined that contracts containing an upfront payment for initial hardware purchases not charged upon renewal contain a material right. The assessment of whether a material right is incremental, and therefore exists, is subjective in nature. The transaction price allocated to the material right is recognized over the period in which we expect to provide goods and services to the customer, which is generally five years and includes an estimate of future renewals. A change in actual or expected renewals would impact the period over which material right revenue is recognized.

***Amortization periods of deferred costs***

We capitalize at the time of shipment the cost of hardware devices sold to customers in connection with their subscription to access and use its cloud software platform. These costs are recorded as deferred device costs on our consolidated balance sheets. Deferred device costs are generally amortized over a five-year expected benefit period. We determined the benefit period by considering the technology lifecycle, expected customer relationship period, the devices' useful lives, and the warranty period provided to the customer. Amortization costs are included in cost of revenue in our consolidated statements of operations.

We also capitalize certain commissions and related payroll taxes that qualify as costs of obtaining a contract with a customer. Commissions associated with the initial customer contract are amortized over a five-year expected benefit period. We determined the period of benefit by considering expected contract renewals, the technology lifecycle, and other factors. Amortization costs are included in sales and marketing expenses in the consolidated statements of operations.

We periodically review the amortization periods for deferred costs and determine whether any adjustments to the useful lives of the assets are required if events or circumstances should cause the carrying amount of such assets to not be recoverable over their amortization periods.

***Stock-based compensation***

We account for our stock-based compensation to employees using the fair value method as required under ASC 718, *Compensation—Stock Compensation* ("ASC 718")*,* which requires the measurement and recognition of compensation expense for all stock-based payment awards based on estimated fair values.

RSUs vest upon the achievement of both service-based vesting conditions and liquidity event-based vesting conditions on or before the grant expiration date. RSUs expire seven years after the date of grant. We did not record stock-based compensation expense during 2023 and 2024 related to these RSUs as the liquidity event-based vesting condition had not been met and was deemed not probable of being met. However, upon the occurrence of a liquidity event, we will recognize the cumulative stock-based

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compensation expense for all RSUs that vest at that time, which we expect will have a material impact to our consolidated results of operations. The expense that we expect to recognize is determined based on the estimated fair value of our common stock on the grant date, which requires significant judgment (see the section titled "—Common stock valuation" below).

See Note 10 "Stock-based compensation" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus for further detail.

***Common stock valuation***

Significant judgment is required in determining the fair value of our common stock. Prior to this offering, given the absence of a public trading market of our common stock, the fair values of the common stock underlying our stock-based awards were determined by our board of directors with input from management and independent third-party valuations prepared in accordance with the American Institute of Certified Public Accountants Practice Aid, *Valuation of Privately Held Company Equity Securities Issued as Compensation*. We believe that our board of directors has the relevant experience and expertise to determine the fair value of our common stock.

Our board of directors exercised reasonable judgment and considered numerous objective and subjective factors to determine the best estimate of the fair value of our common stock including developments in our operations, valuations performed by an independent third party specialist, sales of convertible preferred stock to third-party investors, secondary market transactions, our operating results and financial performance, the conditions in the industry where we operate and the economy in general, the stock price performance and volatility of comparable public companies, and the lack of marketability of our common stock, among other factors.

We determined the fair value of our common stock using a hybrid approach:

• The overall enterprise value was derived by equally weighting the results from both the Income Approach (discounted cash flow or "DCF" analysis) and the Market Approach (Guideline Public Company Method).

• The allocation of value among classes of equity for purposes of determining the per share value of common stock relied on scenario-based methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ The Probability-Weighted Expected Return Method was used to model potential outcomes—primarily an initial public offering and a remain-private scenario—each assigned probabilities based on management's expectations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Within the remain-private scenario, the Option Pricing Method was applied to allocate enterprise value among the various share classes.

Applying these valuation and allocation approaches involves the use of estimates, judgments, and assumptions that are highly complex and subjective, such as those regarding our expected future revenue, expenses and future cash flows, discount rates, market multiples, the selection of comparable companies, and the probability and timing of possible future events. Changes in any of these estimates and assumptions or the relationships between those assumptions impact our valuations as of each valuation date and may have a material impact on the valuation of our common stock.

Upon the closing of this offering, our Class A common stock will be publicly traded, and our board of directors will use the closing price of our Class A common stock as reported on the date of grant to determine the fair value of our Class A common stock.

***Derivative liability***

We have issued 2019 Convertible Notes that contain embedded features subject to derivative accounting. These embedded features are composed of conversion options that have the economic characteristics of an equity instrument. These conversion options are bifurcated from the underlying instrument and

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accounted for and valued separately from the host instrument. Embedded derivatives are recognized as derivative liability on our consolidated balance sheets. We measure these instruments at their estimated fair value and recognize changes in their estimated fair value in other expense, net in our consolidated statements of operations during the period of change. The fair value of the embedded derivatives is estimated using a with-and-without method. This method isolates the value of the embedded derivative by measuring the difference in the host contract's value with and without the isolated feature. The probability and timing of a qualified event of conversion are estimated at each reporting date. As part of the fair value estimate, we utilize a Monte Carlo simulation approach due to increased market volatility and to align the valuation of the embedded conversion option. The valuation of the embedded derivatives requires the input of highly subjective assumptions. Any change to these inputs could produce significantly higher or lower fair value measurements.

**JOBS Act accounting election**

We meet the definition of an "emerging growth company" under the JOBS Act, which permits us to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies. We have elected to use this extended transition period until we are no longer an emerging growth company or until we affirmatively and irrevocably opt out of the extended transition period. As a result, our consolidated financial statements may not be comparable to companies that comply with new or revised accounting pronouncements applicable to public companies.

**Recent accounting pronouncements**

For recently adopted accounting pronouncements and recently issued accounting pronouncements not yet adopted as of the date of this prospectus, see Note 2 "Summary of significant accounting policies" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus.

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**Business**

**Our mission**

Our mission is to empower the people who run physical operations with AI-powered tools to make their work safer, more productive, and more profitable.

**Our business**

The physical economy generates over $50 trillion in annual economic output and comprises approximately 50% of global GDP,<sup>3</sup> spanning industries and verticals like construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector, among others. Despite its scale, the physical economy has been underserved from a technology and innovation perspective relative to the knowledge economy.

Unlike the knowledge economy, which is natively connected, the physical economy runs on vehicles and equipment that are largely unconnected and workers that operate on the road or in the field. In addition to these structural challenges, organizations in the physical economy are confronted with growing safety risks, declining labor force participation, and continuously rising input costs. Existing offerings have failed to help organizations overcome these challenges due to the fragmented nature of such offerings and their lack of AI capabilities, resulting in siloed data, technical complexity, and limited automation.

We purpose-built our Integrated Operations Platform to address the challenges of the physical economy. Our platform offers a suite of products, including Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision. These six products are enabled by our Physical Operations Graph, which serves as the foundational data layer and single source of truth for our customers' physical operations. Our Physical Operations Graph connects and unifies multi-source data across workers, vehicles, equipment, and spend and helps our customers eliminate data silos, enabling cross-domain insights, integrated workflow automation, and advanced AI-powered analytics.

The key strength of our AI system is its recursive improvement capability. Across our Physical Operations Graph, more than one million vehicles and assets generate over one trillion data points per month, building a vast and continuously growing data corpus. This data is labeled with high accuracy by a team of over 400 full-time data annotators who process tens of millions of events annually. This output is used to train our models, which are further refined with low-latency validation. As these models are deployed into production, they generate additional data that expands our training sets and continuously improves model performance over time. This cycle of recursive improvement compounds, reinforcing our AI advantage.

<sup>3</sup> According to estimates from the World Bank and a third-party report.

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Our Integrated Operations Platform enables our customers to transform the safety of their workforce, the productivity of their workers and assets, and the profitability of their operations. Since January 1, 2023, we estimate that our platform helped prevent over 170,000 accidents, saved 1,500 lives, and delivered over $175 million in fuel and fraud savings to our customers. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged an 80% reduction in collisions, reduced their insurance premiums by approximately 20%, and, since implementing our platform, saved an average of 10.8 hours per week on managing vehicle or asset repairs and downtime due to improved efficiency.

As of December 31, 2024, we had nearly 100,000 customers that operated across over a dozen industries and verticals, including construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector, among others. Within each industry, our ability to partner with larger and more complex customers has been a key growth driver of our business. As of December 31, 2024, we had over 6,000 Core Customers with an ARR of greater than $10,000, over 350 Large Customers with an ARR of greater than $100,000, and 20 customers with an ARR greater than $1 million. Our Large Customers include &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , and we continue to gain traction within our Large Customers. As of December 31, 2024, our Core Customers had an NDR of 110% while our Large Customers had an NDR of 124%.

We have achieved rapid growth and significant scale since our founding in 2013. In 2023 and 2024, our revenue was $310 million and $370 million, respectively, and our ARR as of December 31, 2023 and 2024 was $338 million and $417 million, respectively, representing a 19% year-over-year growth in revenue and a 23% year-over-year growth in ARR. Our loss from operations for 2023 and 2024 was $89 million and $112 million, respectively, and our non-GAAP loss from operations for 2023 and 2024 was $75 million and $82 million, respectively. We generated net losses of $109 million and $153 million in 2023 and 2024, respectively. Our loss from operations, non-GAAP loss from operations and net loss in recent periods reflect our continued investment in our business and our large market opportunity.

For definitions and additional information about ARR, NDR, and non-GAAP loss from operations, see the sections titled "Management's discussion and analysis of financial condition and results of operations—Key business metrics—Annualized recurring run-rate," "Management's discussion and analysis of financial condition and results of operations—Key factors affecting our performance—Expansion with existing customers," and "Management's discussion and analysis of financial condition and results of operations—Non-GAAP financial measures," respectively.

**Industry background**

Over the last two decades, technological advancements such as cloud computing, mobile, and AI created the foundation for significant productivity growth. The knowledge economy adopted these new technologies rapidly, which in turn drove outsized productivity gains and substantial economic growth. Despite its scale, the physical economy has been underserved from a technology and innovation perspective and is still in the early stages of adopting these technologies.

Unlike the knowledge economy, which is natively connected, the physical economy runs on vehicles and equipment that are largely unconnected and workers that operate on the road or in the field. In addition to these structural challenges, organizations in the physical economy are confronted with growing safety risks, declining labor force participation, and continuously rising input costs.

***Growing safety risks***

In the physical economy, workers face growing safety risks driven by both workforce dynamics and complex operating environments. An aging labor force, longer hours, and proliferating distractions contribute to higher fatigue and reduced attentiveness. Meanwhile, roads have become less safe due to the increased prevalence of cellphone use, speeding, and aggressive driving behavior.

Since 2012, fatal crashes involving large trucks have surged by &nbsp;&nbsp;&nbsp;&nbsp;. Safety incidents endanger lives, carry significant reputational risk for organizations, and drive up insurance premiums, legal liabilities, and

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workforce turnover. All of these factors make it more difficult and expensive for organizations to operate in the physical economy.

***Declining labor force participation***

Labor force participation has fallen consistently over the past several decades, with the U.S. labor force participation rate declining over 5% from its peak in 2000. Several industries within the physical economy saw more pronounced declines in their labor force. Retirement among experienced workers coupled with the rising difficulty of attracting younger talent has created shortages in the manufacturing sector. In addition, annual turnover rates of transportation, warehousing, and utilities workers are up to 51% per year, exacerbating the problems associated with a critical shortage of skilled labor. Persistent labor shortages and high turnover have left organizations grappling with lost revenue and operational uncertainty.

***Continuously rising input costs***

Organizations in the physical economy are facing continuously rising input costs on already thin margins. In industries such as construction and transportation, profit margins are often in the single-digit percentages, with fuel, insurance, and maintenance accounting for a substantial portion of the costs. Since 2000, fuel prices in the United States have risen 113%, compared to 82% inflation for the same period. At the same time, nuclear verdicts have driven sustained upward pressure on insurance premiums, with commercial trucking insurance premiums rising approximately 40% over the past decade, according to the American Transportation Research Institute. These factors, combined with labor force participation declines, are severely constraining margins and, in some cases, threatening the long-term survival of operators in the physical economy.

***Stricter regulatory environment***

Organizations face mounting regulatory oversight related to safety, environmental standards, and labor practices. Non-compliance can result in significant fines, legal actions, and reputational damage. In the United States, hours-of-service violations can cost up to $19,000 in fines per incident and environmental non-compliance fines can be up to $50,000 per day. Outside the United States, organizations often face stricter environmental and sustainability mandates, such as carbon pricing schemes, low-emission vehicle requirements, and fuel content regulations, which can add significant compliance costs and operational complexity.

**Key limitations of existing offerings**

Existing offerings have failed to help organizations overcome these challenges due to the fragmented nature of such offerings and their lack of AI capabilities, resulting in siloed data, technical complexity, and limited automation.

• ***Data silos limit operational visibility.*** Without a single platform to integrate critical operational data such as vehicle and equipment telematics, maintenance history, safety incidents, and spend data, organizations are forced to operate in silos, limiting visibility to identify inefficiencies or detect emerging risks. This fragmentation prevents organizations from making informed decisions and creates inefficiencies such as underutilized equipment, reactive maintenance, and wasteful fuel spend, ultimately driving higher operational costs.

• ***Point solutions compound technical complexity.*** Decades of reliance on point solutions has resulted in a patchwork of narrowly focused tools that do not integrate with each other, requiring organizations to manage disconnected workflows and multiple vendors. Attempting to integrate point solutions introduces unnecessary technical complexity, increases IT and administrative burden, and results in higher operating expenses.

• ***Inability to deliver high-accuracy AI.*** Existing offerings claiming AI capabilities suffer from limited breadth and poor accuracy because they are unable to aggregate sufficient training data, do not label

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the data effectively, and lack domain expertise, and thus cannot deliver on high-accuracy AI models that meet the demands of physical operations. These offerings generate high rates of false positives or fail to detect all events, burdening customers who are forced to review and manually validate the output of these AI models. As a result, organizations are unable to drive decisions with confidence or automate workflows at scale, limiting the effectiveness of these offerings.

**Our AI-powered Integrated Operations Platform**

Our Integrated Operations Platform is purpose-built to address the challenges of the physical economy. Our platform offers a suite of products, including Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision. These six products are enabled by our Physical Operations Graph, which serves as the foundational data layer and single source of truth for our customers' physical operations. Our Physical Operations Graph connects and unifies multi-source data across workers, vehicles, equipment, and spend and helps our customers eliminate data silos, enabling cross-domain insights, integrated workflow automation, and advanced AI-powered analytics.

![mda4a.jpg](mda4a.jpg)

We offer the following products within our Integrated Operations Platform:

• ***Driver Safety.*** Our Driver Safety product uses the industry's most accurate AI Dashcam to monitor and protect drivers and gives safety managers the tools to prevent accidents and reduce risk. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged an 80% reduction in collisions and a 20% reduction in accident-related costs.

• ***Fleet Management.*** Our Fleet Management product provides visibility into the location, utilization, and health of vehicles and automates major operational workflows for fleet managers, dispatchers, and maintenance teams. Customers spent 50% less time on tracking vehicles and assets and saved 20% in annual costs due to efficient fuel and maintenance management after adopting our Fleet Management product based on our internal studies.

• ***Equipment Monitoring.*** Our Equipment Monitoring product provides visibility into the location, utilization, and health of equipment and automates major operational workflows for equipment managers, dispatchers, and maintenance teams.

• ***Spend Management.*** Our Spend Management product gives finance and operations teams complete control over fleet-related spend. By natively integrating vehicle telematics and Motive Card payments

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data, our customers can reduce fraud, enforce spend policies, and access discounts through the Motive partner network. Since January 1, 2024, Spend Management customers have saved more than 8% of their total fleet-related spend due to fraud and suspicious spend detection and Motive partner network discounts.

• ***Workforce Management.*** Our integrated Workforce Management product helps organizations reduce administrative burden and elevate employee performance. Our customers can manage qualification documents, time tracking, and employee training, and deliver personalized coaching to improve performance.

• ***AI Vision.*** Our AI Vision product is a general-purpose computer vision system for physical operations, with the ability to develop and deploy tailor-made AI models for industry-specific use cases. Customers can leverage AI Vision to solve a wide range of operational challenges spanning service verification, worksite safety, cargo security, passenger monitoring, and more.

As customer adoption of our products expands, our platform collects and processes greater volumes and varieties of operational data. This incremental data flow continuously enriches our Physical Operations Graph, increasing the fidelity and completeness of available information. Enhanced data quality in turn enables the development of more products and analytics, supporting rapid iteration and facilitating the expansion of our platform capabilities. This feedback loop positions us to address progressively complex operational challenges such as maintenance, fuel optimization, and risk mitigation, with deeper, contextualized insights.

**Our approach to AI** 

Our approach to AI is the core reason why our solutions are so valuable to organizations in the physical economy.

The value of our AI to customers is ultimately defined by its high degree of accuracy, which means achieving both high precision and high recall. High precision means that false alerts are not generated or occur at a minimal rate, while high recall means that true events are detected and surfaced to customers. Accuracy is critical in areas such as accident detection, unsafe behavior monitoring, and service verification, where errors can directly affect people's lives and jobs. Too many false alerts cause customers to lose trust in the system's usefulness, while too many missed detections reduce the system's ability to improve safety, operational efficiency, and profitability. For our customers and their employees, the accuracy of our AI solutions is essential.

Proprietary hardware is integral to data quality and model performance and our ability to deliver new features over time. Devices such as our AI Dashcam and Vehicle Gateway are built with advanced silicon optimized for sensor fusion and running small neural networks. We use our perception engine to combine the output of those models with input from the vehicle and other onboards sensors, and feed the combined results into our analysis engine, allowing us to generate accurate alerts and enable real-time intervention. These devices are purpose-built to operate in harsh environments and constrained power conditions, capturing high-fidelity, multimodal data, including video, audio, telematics, GPS, and vehicle diagnostics. Our hardware is designed to improve over time through regular model and software updates.

Our AI model development and evaluation practices are built by our team of highly-skilled AI engineers and over 400 full-time data annotators as of December 31, 2024. Low-latency validation ensures model outputs align with operational realities, with events quickly reviewed and false positives proactively

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eliminated. This process establishes a feedback loop that constantly improves model accuracy. Industry benchmarks confirm that our models achieve high true positive rates relative to industry peers. This means nearly flawless event detection and monitoring for our customers and a continuous fast-paced training loop for improving and releasing new models. Today, our Driver Safety AI models monitor 15 unsafe behaviors, and we plan to expand coverage over time. While we continue to make our existing models more accurate, our AI engineers are also focused on building new models to further serve our customers' needs.

![mda5a.jpg](mda5a.jpg)

Examples of how our approach to AI allows us to solve challenging use cases include:

• ***Unsafe parking***, or "sitting duck" scenarios, represent some of the most dangerous events for drivers and are among the hardest to detect accurately. A vehicle pulled over on the side of a freeway due to mechanical failure can seem deceptively similar to a vehicle stopped in traffic in the rightmost lane next to the shoulder, or vehicles legally parked at rest stops by the highway. GPS data alone is insufficient for reliable detection. A location resolution of five meters can cause a legal stop to be confused with dangerous ones. Addressing this problem requires more than just computer vision and location; it demands accurate perception, precise localization, and deep contextual understanding. Our system integrates all three: rich multimodal data, deep domain expertise, and low-latency

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validation of edge cases. This reflects not only an engineering challenge, but a domain challenge, and we have addressed it at scale.

• ***Driver fatigue*** is one of the most complex and high-stakes problems in driver safety. Unlike discrete safety events, driver fatigue develops gradually and is often difficult to detect, as it manifests through subtle cues over time. By the time it becomes readily apparent, the risks to drivers and vehicles can already become substantial. Our Driver Fatigue Index combines micro-behaviors, like yawning, eye rubbing, stretching, and head droop, with patterns in driving dynamics such as late braking, swerving, inconsistent speed, and abnormal acceleration. These signals are noisy, brief, and often missed by traditional models. Detecting them at scale requires rich multimodal data, finely tuned models, and robust temporal fusion across driver-facing and road-facing cameras, telematics, and historical behavior, deep domain expertise in understanding how fatigue manifests differently across drivers, vehicles, and operating conditions, and continuous feedback loop from low-latency validation from annotators that confirms ambiguous signals in real time. Our strength lies in the ability to aggregate fragmented signals into a coherent fatigue risk profile, enabling earlier and more accurate detection before risks escalate.

Our approach to AI is designed for environments where worker safety and operational efficiency are paramount. Customers use our platform for decisions that have profound consequences: protecting lives, ensuring delivery of services, preventing theft and fraud, and mitigating liability. In these contexts, tolerance for AI errors such as false positives or hallucinations is exceedingly low. Our low-latency validation process, paired with proprietary hardware and comprehensive data from our Physical Operations Graph, enables the delivery of highly accurate, trustworthy AI that meets the demands of the physical economy.

**Key benefits of our platform**

Our Integrated Operations Platform is purpose-built to address the challenges of the physical economy. Our products are enabled by our Physical Operations Graph, which serves as the foundational data layer and single source of truth for our customers' physical operations. Our Physical Operations Graph connects and unifies multi-source data across workers, vehicles, equipment, and spend and helps our customers eliminate data silos, enabling cross-domain insights, integrated workflow automation, and advanced AI-powered analytics.

Our Integrated Operations Platform delivers the following key benefits to our customers:

• ***Improve safety.*** Our AI-powered safety products create safer work environments. Our AI Dashcam detects unsafe behavior and alerts drivers in real time. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged an 80% reduction in collisions. Since January 1, 2023, we estimate that our platform helped prevent over 170,000 accidents and saved 1,500 lives.

• ***Enhance productivity.*** Our platform automates manual processes and optimizes equipment and asset utilization to increase operational productivity. For example, our Face Match capability automates the process of linking workers to the vehicles they operate, a task that traditionally requires manual effort. The automatic tracking of distance traveled and fuel purchased by jurisdiction enables our customers to seamlessly complete fuel tax reporting, and our customers report saving hundreds of hours of human review. On the equipment side, our platform automatically identifies equipment availability within geofenced locations, providing a real-time inventory view that helps planners spot gaps and redeploy assets for upcoming jobs, boosting operational efficiency and reducing downtime caused by missing or misplaced equipment. Based on our internal studies, customers spent 50% less time on manual paperwork and outdated processes and 50% less time tracking vehicles and assets.

• ***Increase profitability.*** Our platform increases profitability by reducing accidents, optimizing fuel usage, and reducing fraud. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged a 20% reduction in accident-related

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costs and a 20% reduction in their insurance premiums due to fewer collisions. In addition, our ability to combine vehicle telematics data with fuel purchase data allows us to detect fraud effectively with the Motive Card. We delivered an estimated $175 million in fuel and fraud savings to our customers in 2024. On average, we help our customers save $3.4 million per year in accident, insurance, and fuel costs for every 1,000 vehicles they operate.

**Our market opportunity**

The magnitude of our opportunity is reflected in the economics of the physical economy. Organizations in the physical economy spend hundreds of billions of dollars each year on fuel and tens of billions of dollars on insurance, and face substantial costs from accidents, downtime, and inefficiency. While the costs to these organizations are significant, existing offerings have failed to help organizations overcome their challenges due to the fragmented nature of such offerings and their lack of AI capabilities, resulting in siloed data, technical complexity, and limited automation.

Our Integrated Operations Platform is designed to address the challenges of the physical economy, offering a suite of products, including Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision. We estimate our market opportunity to be approximately $187 billion, with significant opportunities across each of our product offerings:

***Driver Safety and Fleet Management.*** We estimate the global opportunity for our Driver Safety and Fleet Management products to be approximately $60 billion. To calculate this addressable market, we multiply the annual effective price per vehicle for our Driver Safety and Fleet Management products by the estimated number of commercial vehicles in operation in our target markets in 2024 based on Frost & Sullivan estimates.

***Workforce Management.*** We estimate the global opportunity for our Workforce Management product to be approximately $23 billion. To calculate this addressable market, we multiply the annual list price of our Workforce Management product by the estimated number of commercial vehicle drivers in our target markets in 2024, estimated based on a driver to vehicle ratio and the estimated number of commercial vehicles in operation in our target markets in 2024 based on Frost & Sullivan estimates.

***Equipment Monitoring.*** We estimate the global opportunity for our Equipment Monitoring product to be approximately $28 billion. To calculate this addressable market, we multiply the annual list price of the appropriate Equipment Monitoring product by the estimated number of intermodal containers, trailers, off-highway equipment units, dumpsters, generators, warehouse equipment units, high-value loading pallets, and other commercial assets globally based on third-party and internal estimates.

***Spend Management.*** We estimate the global opportunity for our Spend Management product to be approximately $30 billion. To calculate this addressable market, we multiply a percentage of interchange fees by the estimated transaction volume of our Motive Card. To calculate the estimated transaction volume of our Motive Card, we combine estimated global fuel-related total transaction volume with estimated global non-fuel-related total transaction volume. To arrive at the estimated global fuel-related total transaction volume, we segment commercial vehicles in the United States and Europe into long-haul vehicles and local commercial vehicles, then multiply the number of vehicles by segment by geography, by the estimated fuel spend per vehicle by segment by geography. We then estimate the global non-fuel-related total transaction volume based on third-party and internal estimates of non-fuel-related card spend, segmented into long-haul vehicles and local commercial vehicles.

***AI Vision.*** We estimate the global opportunity for our AI Vision product to be approximately $46 billion in 2024, which aligns with the global video surveillance camera market, estimated by IDC as of May 2023.

**Our customers**

We serve a diverse set of customers across a broad range of industries and verticals, including construction, oil and gas, trucking and logistics, manufacturing, agriculture, and the public sector, among others. As of December 31, 2024, we had over 6,000 Core Customers, which represented approximately

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64% of our total ARR. The number of Core Customers increased by 20% from December 31, 2023 to December 31, 2024, and ARR from Core Customers increased by 41% over the same period.

The chart below illustrates the percentage of our ARR by industry as of December 31, 2024, highlighting the breadth of our customer base across the physical economy:

![business3c.jpg](business3c.jpg)

We have experienced strong customer adoption of our products beyond the trucking and logistics industry, with ARR from industries outside of trucking and logistics representing 67% of our total ARR as of December 31, 2024, compared to 61% as of December 31, 2023. Our fastest growing verticals include construction, field service, and passenger transit.

We initially focused on addressing the needs of small and medium-sized businesses engaged in physical operations that had limited access to technology solutions to manage their workers, vehicles, equipment, and spend. We concentrated on refining our products, aiming to offer the best solution for these customers to improve their safety, productivity, and profitability. As our business grew, we began capturing larger organizations by strengthening our field sales capabilities and strategically scaling our go-to-market organization. We have achieved significant traction with these customers. As of December 31, 2024, we had over 350 Large Customers and 20 customers with ARR greater than $1 million.

**Our competitive strengths**

We believe our competitive strengths, which allow us to deliver differentiated value to customers across the physical economy, include:

• ***The only platform that unifies safety, operations, and finance.*** Motive is the only platform that enables safety, operations, and finance teams to manage their workers, vehicles, equipment, and spend in one system. Our Integrated Operations Platform encompasses six primary products: Driver

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Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision. By breaking down data silos and reducing technical complexity, our all-in-one platform gives customers insights that were previously fragmented or hard to uncover. This integrated approach also reduces friction in adoption of our platform and strengthens retention as customers see Motive as the system of record for their physical operations.

• ***Recursive improvement capability.*** The key strength of our AI system is its recursive improvement capability. Across our Physical Operations Graph, more than one million vehicles and assets generate over one trillion data points per month, building a vast and continuously growing data corpus. This data is labeled with high accuracy by a team of over 400 full-time data annotators who process tens of millions of events annually. This output is used to train our models, which are further refined with low-latency validation. As these models are deployed into production, they generate additional data that expands our training sets and continuously improves model performance over time. This cycle of recursive improvement compounds, reinforcing our AI advantage.

• ***Fast time to value.*** We are focused on speed to value and delivering measurable returns to our customers, which includes fast implementation and high return-on-investment in the first year of use. For enterprise customers, the average implementation period of our Fleet Management product is under three months, 20% to 30% faster than our competitors, and they typically see a return on their investment within six months, up to 63% faster than our competitors. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged a 20% reduction in accident-related costs and a 20% reduction in their insurance premiums due to fewer collisions.

• ***Exceptional customer experience.*** Our customers rely on us to solve mission-critical operational challenges. Our combination of exceptional technology and exceptional service yields exceptional outcomes for our customers. Our products are designed to be easy to deploy, reliable in operation, and intuitive to use. This is supported by our service model, which provides change management, installation, education, and subject matter expertise. Our approach fosters rapid adoption and high satisfaction, which enables strong retention and expansion across our customer base. As a testament to our focus on delivering a superior customer experience, we have earned G2's top leader badges and placed first in G2's 2025 Summer Report for Enterprise Fleet Management.

**Our growth strategies**

We aim to achieve continued growth through the following strategies:

***Continuous product innovation***

We intend to continue developing innovative products, guided by a company culture that is customer-centric and problem seeking.

We actively engage with customers to understand their needs, and when we identify challenges that are both meaningful and shared across our customer base, we move quickly to build solutions. For example, based on customer feedback, we recently developed an AI model for the waste industry to detect

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contamination by identifying non-compliant materials in collected waste. We were able to build a prototype within weeks for a solution that could potentially be applied across over 140,000 waste and recycling trucks in North America. We translate customer needs into solutions with speed and scale, and we intend to continue to invest in our research and development capabilities, including introducing new products to our platform for a wide range of use cases.

***Expand our Core Customer base***

We believe there remains a significant opportunity to further expand our Core Customer base. These organizations face complex operational challenges, but continue to rely on legacy offerings or nothing at all. We intend to capture this opportunity by continuing to invest in sales and marketing to drive adoption of our platform.

We will continue to target larger organizations that seek integrated solutions to manage their workers, vehicles, equipment, and spend in one system. As of December 31, 2024, we had over 6,000 Core Customers, over 350 Large Customers, and 20 customers with an ARR greater than $1 million. We intend to continue to focus on increasing the number of our Core and Large Customers given their higher revenue potential and greater platform stickiness by growing our sales capacity and increasing our sales efficiency.

***Deepen multi-product adoption***

We intend to increase adoption of multiple products, at initial land and through cross-selling over time. As of December 31, 2024, approximately 89% of our Core Customers adopted two or more of our products.

We have experienced significant success in driving expansion with our existing customers. As of December 31, 2024, our Core Customers had an NDR of 110%, and our Large Customers had an NDR of 124%, reflecting the strong expansion we have achieved within our customer base, particularly among our Large Customers. We plan to continue driving customer expansion by increasing multi-product adoption, especially by our Core and Large Customers.

***Expand internationally***

We view international expansion as a substantial long-term growth opportunity for our business. In 2024, our customers in the United States and Canada accounted for more than 99% of our revenue. We have begun building our international presence with sales operations in Mexico in 2024 and the United Kingdom in 2025. We intend to continue investing in and expanding our international operations, including localized product development and go-to-market capabilities, to serve customers in new geographies.

**Our products**

Our Integrated Operations Platform is designed to address the challenges of the physical economy, offering a suite of products, including Driver Safety, Fleet Management, Equipment Monitoring, Spend Management, Workforce Management, and AI Vision.

**Driver Safety –** Our Driver Safety product uses the industry's most accurate AI Dashcam to monitor and protect drivers and gives safety managers the tools to prevent accidents and reduce risk. Based on our internal customer data, we estimate that, within one year of the deployment of our AI Dashcam, our customers averaged an 80% reduction in collisions and a 20% reduction in accident-related costs. The key features of our Driver Safety product include**:**

• ***Industry leading AI safety models:*** We have built the industry's leading AI models to monitor drivers for more than 15 unsafe behaviors, such as close following, cellphone use, seatbelt violations, and driver fatigue, detecting risk four times more reliably than competitors. Our system provides real-time alerts and captures footage for precise analysis, leading to significant reductions in unsafe driving and costly accidents.

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• ***False positive removal:*** As of December 31, 2024, our Safety Team comprises over 400 full-time data annotators dedicated to reviewing safety videos. Their efforts help eliminate false positives, ensuring that organizations make decisions based on accurate data and that drivers are not unfairly penalized for errors they did not make. This process also saves management time by allowing them to focus solely on true positives. These annotations are fed back into and strengthen our AI models.

• ***Personalized, scalable coaching:*** Motive makes it easy to coach those who need improvement virtually through our Driver App, or in-person using Coaching Sessions. We identify coachable events and send AI-generated coaching videos, reducing live coaching needs. Drivers can also receive real-time and periodic summaries to help improve their safety and performance. All of this improves driver performance and safety with minimal manual effort.

• ***Driver exoneration:*** When an incident occurs, our AI Dashcam automatically records both road-facing and driver-facing perspectives, giving safety teams and insurers a complete and objective account of what happened. This evidence has helped organizations dispute false accident reports, avoid unnecessary settlements, and reduce legal and insurance costs.

• ***First Responder:*** Our platform automatically connects with first responders when a severe collision is detected, enabling the rapid dispatch of emergency resources to provide immediate assistance to drivers.

• ***360-degree visibility:*** Our AI Dashcam and AI Omnicams provide comprehensive visibility, capturing HD video with a wide field of view.

**Fleet Management –** Our Fleet Management product provides visibility into the location, utilization, and health of vehicles and automates major operational workflows for fleet managers, dispatchers, and maintenance teams. Customers spent 50% less time on tracking vehicles and assets and saved 20% in annual costs due to efficient fuel and maintenance management after adopting our Fleet Management product based on our internal studies. The key features of our Fleet Management product include:

• ***Real-time GPS tracking:*** Our Vehicle Gateway and original equipment manufacturer (OEM) integrations provide real-time tracking and telematics, updating approximately every two seconds for precise visibility. The integration of our application with major OEMs offers a unified view of assets, enhancing tracking capabilities and streamlining operations with precise power take-off monitoring.

• ***Real-time visibility:*** Our Follow Mode and Live Streaming connect managers with road activities, offering real-time tracking for critical deliveries and detailed vehicle information. Safety dashcams can provide comprehensive monitoring with full video records.

• ***Automatic alerts and contextual insights:*** Our AI assistant delivers automatic alerts on time-sensitive issues, offering additional context and recommended actions designed to ensure swift communication and problem prevention.

• ***Centralized compliance management:*** Our Compliance Hub streamlines activities like ELD compliance and CSA score management, automating workflows and combining data for a comprehensive view of driver performance.

• ***Vehicle efficiency and utilization insights:*** We provide insights into vehicle efficiency, tracking fuel consumption and pinpointing certain wasteful behaviors. Our customers can compare their vehicle performance within the network and assess routes for electrification using telematics data.

• ***Customizable vehicle and equipment inspection:*** Our platform allows customization of inspection forms for early issue detection and detailed assessments, with templates and custom defect lists designed for precise information capture.

• ***Proactive maintenance management:*** We offer real-time fault code alerts for early defect detection, enabling timely service and tracking maintenance tasks with detailed reports to help minimize vehicle downtime.

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**Equipment Monitoring –** Our Equipment Monitoring product provides visibility into the location, utilization, and health of equipment and automates major operational workflows for equipment managers, dispatchers, and maintenance teams. The key features of our Equipment Monitoring product include:

• ***Large, valuable asset tracking:*** Our Asset Gateway Mini provides high-frequency, reliable location data using Advanced Location Services, Assisted GPS, LTE Cell Tower Triangulation, and Bluetooth Mesh. It offers over five years of battery life, seamless power fallback, and Locate My Asset functionality for trailers and heavy equipment. Our Asset Gateways allow for granular location and utilization monitoring to maximize efficiency and minimize loss.

• ***Small tools and equipment tracking:*** Our Motive Beacon is a cost-effective device for tracking small tools, containers, and equipment across industries. It efficiently locates items like portable generators and welding tools, with a compact design featuring IP67 weather certification and a 4-year replaceable battery.

• ***Asset temperature and humidity monitoring:*** Our Reefer Monitoring tracks and reports temperature and humidity, with customizable alerts for deviations, to support condition-dependent industries like food and beverage transportation. It supports adjustments to prevent spoilage and maintain cold chain compliance, with third-party integrations or Motive sensors for remote monitoring and protection.

• ***Asset utilization monitoring:*** We offer real-time tracking of the percentage of time that assets are in use, the length of time that they are dormant, and available equipment inside a geofence for effective capacity planning. It allows customers to bill accurately based on engine hours, locate and reposition underused assets, and better assess equipment needs to avoid waste.

**Spend Management –** Our Spend Management product gives finance and operations teams complete control over fleet-related spend. By natively integrating vehicle telematics and Motive Card payments data, our customers can reduce fraud, enforce spend policies, and access discounts through the Motive partner network. Since January 1, 2024, Spend Management customers have saved more than 8% of their total fleet-related spend due to fraud and suspicious spend detection and Motive partner network discounts. The key features of our Spend Management product include:

• ***Fraud detection and prevention:*** Our platform combines vehicle location, fuel tank level, and other telematics signals with spend data to automatically detect and decline suspicious transactions. We detect anomalies such as fueling when the vehicle isn't present, transactions exceeding tank capacity, or purchases where gallons pumped don't align with the vehicle's tank level change and trigger alerts to enable immediate investigations. We are the first telematics provider with a natively integrated fleet card and telematics-backed fraud protection.

• ***Customizable spend controls:*** Finance teams can control cardholder spend by amount, category, day, and time, block specific merchants, and customize controls, with real-time visibility provided by the Motive dashboard and our Driver App.

• ***Increased savings through discounts and coaching:*** Customers earn discounts at over 33,000 Motive partner network locations and receive up to 2.5% cash back on all spend. Missed savings analysis and driver coaching on fueling behavior unlock additional cost savings.

**Workforce Management –** Our integrated Workforce Management product helps organizations reduce administrative burden and elevate employee performance. Our customers can manage qualification documents, time tracking, and employee training, and deliver personalized coaching to improve performance. The key features of our Workforce Management product include:

• ***Document digitization and management:*** We digitize and manage qualification documents, providing field personnel access via our Driver App. Automated compliance alerts for document expirations and customizable templates aligned with FMCSA regulations enhance efficiency. These keep workers in the field and companies compliant with minimal manual effort.

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• ***Integrated training and coaching:*** We simplify training content sharing, understanding measurement, and completion tracking. Managers can deliver training content directly to our Driver App, track completion, and close knowledge gaps. Our AI Coach provides automated, personalized coaching, increasing engagement and supporting consistent improvement across the team.

**AI Vision –** Our AI Vision product is a general-purpose computer vision system for physical operations, with the ability to develop and deploy tailor-made AI models for industry-specific use cases. Customers can leverage AI Vision to solve a wide range of operational challenges spanning service verification, worksite safety, cargo security, passenger monitoring, and more. The key use cases of our AI Vision product include:

• ***Worksite safety:*** Our technology enhances safety by monitoring compliance with personal protective equipment and safety procedures. It detects falls, verifies the use of safety gear, and enforces proper loading practices to prevent accidents.

• ***Cargo security:*** Our solution offers 24/7/365 monitoring to prevent theft, detecting unauthorized access and tampering. It ensures cargo integrity and provides proof of service.

• ***Passenger counting:*** We improve passenger safety and route efficiency by accurately counting passengers and alerting for unsafe behavior. Our platform optimizes routes and promptly addresses aggressive actions.

• ***Recycling contamination:*** Our solution automatically detects non-compliant materials in collected waste. By identifying contamination at the point of collection, we give operators actionable insights to improve recycling accuracy, reduce penalties, and ensure compliance with mandatory reporting requirements.

• ***Waste overage:*** We detect when waste volumes exceed contracted thresholds, helping operators capture additional revenue opportunities, ensure accurate billing, and provide fair, transparent service to customers.

• ***Custom use cases:*** Our AI Vision product supports a wide range of applications, such as detecting open trailer doors, fire and smoke, approaching aircraft, danger zone entries, hazardous materials, and oil spills, thereby enhancing safety and security across various operations.

**Sales & marketing**

We sell subscriptions to our Integrated Operations Platform primarily through our direct sales organization, consisting of a field sales team and an inside sales team. The field team employs a value-based motion focused on solving real-world customer problems. We sell to smaller customers through high-velocity engagement, driven by our inside sales team. The inside sales team also provides a differentiated capability that allows us to efficiently target complex buying networks, such as franchise operators. We have dedicated teams for the public sector and international markets, identifying prospective customers, managing accounts, and finding expansion opportunities.

We land through products that serve strategic use cases in Driver Safety and Fleet Management and expand within existing customers by selling additional products or by widening our footprint within the same organization, growing along with our customers. We provide existing customers with a low-friction, self-service online store that accelerates time to value.

Our go-to-market strategy is anchored in our AI leadership. We encourage prospective customers to engage in head-to-head proofs of concept (POC) with competitive products to expose the superior quality and accuracy of our platform in real-world scenarios. Live deployments to customer environments create experience with our product and customer support and service teams, which drives trust in our platform and our organization.

Our marketing team invests in activities to drive awareness through various in-person and virtual channels, and works closely with our sales teams to facilitate engagement with prospective customers

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and generate demand. We host Vision, an annual user conference to help customers realize improvements in their physical operations with platform demonstrations, best practices guides, industry research studies, and thought leadership content to enhance understanding of our platform and promote increased adoption.

Our sales organization includes sales development, inside sales, field sales, solutions engineering, and account management. It is segmented by geography and prospective customer size, and is specialized by new prospect and existing customer accounts.

As of December 31, 2024, our global sales and marketing team consisted of approximately 1,500 employees. We intend to continue to invest in our sales and marketing capacity to further capitalize on our market opportunity.

**Research & development**

Our R&D team is responsible for the design, development, testing, and delivery of our platform and applications. We have established R&D hubs in the United States and certain strategic regions including India, Canada, Taiwan, and Pakistan. We have a team of experienced software and hardware engineers with domain expertise, along with data annotators focused on enhancing product quality. As of December 31, 2024, our R&D team consisted of over 1,000 employees, and has delivered more than 200 major product features annually since 2023.

**Competition**

We operate in a dynamic and competitive market driven by constant change and innovation. We face competition from companies offering fleet management point solutions, dash cam systems, asset tracking devices, and fleet card providers. No competitor offers a suite of technologies that includes Fleet Management, Driver Safety, Equipment Monitoring, Workforce Management, Spend Management, and AI Vision in a single platform. Our main competitors include:

• ***Telematics, fleet, and equipment monitoring competitors:*** Companies such as CalAmp, Geotab, Samsara, Trimble, and Verizon, which focus on telematics and fleet management offerings, emphasizing vehicle tracking and compliance management.

• ***Driver safety competitors:*** Companies such as Lytx, Netradyne, Samsara, and Verizon, which provide camera systems for enhanced visibility and safety through video analytics.

• ***Fleet card competitors:*** Companies such as Comdata and Wex offer stand-alone fleet card offerings, allowing customers to manage and transact fuel spend while accessing vendor discount savings.

We believe our principal competitive factors in our market include:

• ***The only platform that unifies safety, operations, and finance.*** Motive is the only platform that enables safety, operations, and finance teams to manage their workers, vehicles, equipment, and spend in one system.

• ***Industry-leading AI.*** We are a leader in applying AI to physical operations. We have built the industry's most accurate AI Dashcam, currently monitoring 15 unsafe behaviors such as cellphone use, distraction, and close following, including models that are not offered by our competitors, such as unsafe parking and fatigue monitoring.

• ***Recursive improvement capability.*** The key strength of our AI system is its recursive improvement capability. Data across our Physical Operations Graph is labeled with high accuracy, then used to train our models, which are further refined with low-latency validation. As these models are deployed into production, they generate additional data that expands our training sets and continuously improves model performance over time.

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• ***Exceptional customer experience.*** Our customers rely on us to solve mission-critical operational challenges. Our combination of exceptional technology and exceptional service yields exceptional outcomes for our customers. Our approach fosters rapid adoption and high satisfaction, which enables strong retention and expansion across our customer base.

Customers choose us for our unified platform, industry-leading AI, particularly due to the recursive improvement of our AI system, fast time to value, and exceptional customer experience. For more information regarding risks related to our competition, see the section titled "Risk factors—Risks related to our business and industry—We face intense competition and could lose market share to our competitors, which would adversely affect our business, operating results, and financial condition."

**Intellectual property**

Our intellectual property is an important aspect of our business and helps us maintain our competitive position. To establish and protect our rights in our proprietary intellectual property, we rely upon a combination of patent, copyright, and trademark laws, and contractual restrictions such as confidentiality agreements, licenses and intellectual property assignment agreements. We also sustain a number of trade secrets in our software, AI models, technology, and source code.

As of December 31, 2024, we owned the following patents related to the business: eight issued U.S. patents, 16 U.S. patent applications, and 11 non-U.S. pending patent applications. Our issued U.S. patents, and any patents that may issue from our pending applications, are scheduled to expire at dates ranging between August 2039 and February 2041, which may exclude any additional term for patent term adjustments or extensions. To protect our brand, as of December 31, 2024, we had a trademark portfolio comprised of at least 39 trademark applications and registrations across a total of at least eight jurisdictions. Finally, we have registered domain names for websites that we use in our business, such as www.gomotive.com.

We control access to our intellectual property and confidential information through internal and external controls. We maintain a policy requiring our employees, contractors, consultants and other third parties to enter into confidentiality and proprietary rights agreements to control access to our proprietary information. Intellectual property laws and our procedures and restrictions provide only limited protection, and any of our intellectual property rights may be challenged, invalidated, circumvented, infringed, or misappropriated.

**Government regulation**

We are subject to a wide variety of laws and regulations in the United States and other jurisdictions and devote considerable resources to compliance with these laws and regulations.

For example, some of our products are used by our customers to comply with obligations to record their compliance with applicable HOS restrictions by using an ELD. In the United States, to the extent our products function as ELDs, we are subject to regulation by the FMCSA, which requires that ELD manufacturers register and self-certify that the ELDs they offer for sale have been sufficiently tested to meet certain functional requirements, which are subject to interpretation communicated through formal or informal guidance, or change through formal administrative rulemaking processes. Similarly on January 1, 2023, Canada began enforcement of its ELD technical standard, mandating that motor carriers and drivers subject to hours-of-service requirements in Canada use ELDs that have been tested and certified by an accredited, third-party certification body.

We are also subject to other laws and regulations governing issues such as privacy, data security, telecommunications, the use of biometric data, labor and employment, anti-discrimination, exports, anti-bribery, whistleblowing and worker confidentiality obligations, product liability, product certifications and labeling, marketing, telephone marketing and other consumer protection, taxation, AI-specific regulations, securities, competition, arbitration agreements and class action waiver provisions, and terms of service, among other issues. We could become subject to additional legal or regulatory requirements, including

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additional or modified requirements around ELD certification, if laws, regulations, or guidance changes in the jurisdictions in which we operate. This could include the need to obtain new and different types of licenses or certifications to offer certain products or functionalities. Guiding our actions is a commitment to complying, and helping our customers comply, with applicable regulations and requirements, and we will continue to devote significant internal resources to these efforts.

See the section titled "Risk factors—Risks related to legal and regulatory matters" for additional information about the laws and regulations to which we are subject and the risks to our business associated with such laws and regulations.

**Our facilities**

We are headquartered in San Francisco, California, where we occupy approximately 25,000 square feet of office space pursuant to a lease that is expected to expire in March 2029, subject to the terms thereof.

We believe that our current facilities are adequate to meet our current needs and that, should it be needed, suitable additional or alternative space will be available to accommodate our operations.

**Our employees and human capital resources**

Our employees are based in locations around the world, including key hubs in the United States and Pakistan. As of December 31, 2024, we had 3,559 full-time employees, including 2,648 employees outside of the United States. Of our full-time employees, 380 employees provided customer service support.

None of our employees are represented by a labor union or subject to a collective bargaining agreement. We have not experienced any work stoppages due to employee disputes, and we believe our relationship with our employees to be good.

Our human capital resources objectives include, as applicable, identifying, recruiting, retaining, incentivizing, and integrating our existing and additional employees. The principal purposes of our equity incentive plans are to attract, retain, and motivate selected employees, consultants, and directors through the granting of stock-based compensation awards and cash-based performance bonus awards.

**Legal proceedings**

We are currently a party to, and may from time to time in the future, be involved in, various litigation matters and subject to claims that arise in the ordinary course of business, including claims asserted by third parties in the form of letters and other communications. For more information regarding legal proceedings and other claims in which we are involved, see Note 6 "Commitments and contingencies" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus, which is incorporated herein by reference.

In addition, we are, and from time to time, we may become, involved in legal proceedings or be subject to claims arising in the ordinary course of our business. Other than as set forth in Note 6, we are not presently a party to any other legal proceedings that in the opinion of our management, if determined adversely to us, would individually or taken together have a material adverse effect on our business, financial condition or operating results.

Defending such proceedings is costly and can impose a significant burden on management and employees. The results of any current or future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

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**Management**

**Executive officers, key employees, and non-employee directors**

The following table provides information regarding our executive officers, key employees, and non-employee directors as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025:

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| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position(s)** |
| ***Executive officers:*** | | |
| Shoaib Makani | | Chief Executive Officer, Co-Founder, and Director |
| Amish Babu | | Chief Technology Officer |
| Adam Block | | Chief Revenue Officer |
| Chirag Shah | | Chief Financial Officer |
| Shu White | | Chief Legal Officer and Head of People |
| ***Key employees:*** | | |
| Hemant Banavar | | Chief Product Officer |
| Robson Grieve | | Chief Marketing Officer |
| ***Non-employee directors:*** | | |
| Somesh Dash | | Director |
| Dana Evan | | Director |
| Ilya Fushman | | Director |
| Obaid Khan | | Co-Founder and Director |
| Alexander Niehenke | | Director |
| Aaron Schildkrout | | Director |

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(1)Member of the audit committee.

(2)Member of the compensation committee.

(3)Member of the nominating and corporate governance committee.

(4)Lead independent director.

***Executive officers***

*Shoaib Makani* is one of our co-founders and has served as our Chief Executive Officer and as a member of our board of directors since 2013. Prior to founding our company, Mr. Makani led investments in consumer and enterprise technology companies at Khosla Ventures, a venture capital firm, from 2011 to 2013. Prior to joining Khosla Ventures, from 2008 to 2011, Mr. Makani led international growth at AdMob, Inc., a mobile advertising platform acquired by Google Inc. in 2009. Mr. Makani holds a B.Sc. in Government and Economics from The London School of Economics and Political Science. Mr. Makani was selected to serve as a member of our board of directors due to the perspective and experience he brings as one of our co-founders and Chief Executive Officer.

*Amish Babu* has served as our Chief Technology Officer since May 2025. Prior to that, he served as our Senior Vice President of Connected Devices from April 2022 to May 2025 and as our Vice President of Hardware from January 2020 to April 2022. Prior to joining us, Mr. Babu served as the Head of Electrical Engineering at Oculus VR, a virtual reality technology subsidiary of Meta Platforms, Inc., from 2017 to 2020, and as the Director of Hardware Engineering at Logitech International S.A., a computer peripherals and software company, from 2015 to 2017. Mr. Babu holds a B.S. in Computer Systems Engineering and an M.S. in Materials Science and Engineering from Stanford University.

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*Adam Block* has served as our Chief Revenue Officer since January 2025. Prior to that, he served as our Senior Vice President, Strategic, Enterprise, and Public Sector Sales from March 2024 to January 2025 and as our Vice President, Strategic and Enterprise Sales from November 2022 to March 2024. Prior to joining us, Mr. Block served in various sales leadership roles at Medallia, Inc., a customer experience management software company, from 2014 to November 2022. Prior to Medallia, Mr. Block served as the Vice President of Sales and Marketing at Tenmast Software (now MRI Software), a housing management software company, from 2007 to 2014. Mr. Block holds a B.B.A. in Finance and Management from the University of Kentucky.

*Chirag Shah* has served as our Chief Financial Officer since October 2024. Prior to joining us, Mr. Shah served as the Chief Financial Officer of Kong Inc., an API management software company, from February 2022 to October 2024. Mr. Shah served as the Chief Financial Officer of Cornerstone OnDemand, Inc., a cloud-based talent management software company, from January 2021 to February 2022. Prior to being named Chief Financial Officer, Mr. Shah served in positions of increasing responsibility at Cornerstone, including as Senior Vice President and General Manager, Growth Markets from 2017 to December 2020 and as Vice President, Finance and Strategy from 2009 to 2016. Mr. Shah holds a B.S. in Finance from Georgetown University and an M.B.A. from the Northwestern University Kellogg School of Management.

*Shu White* has served as our Chief Legal Officer and Head of People since October 2023. Prior to that, she served as our General Counsel from November 2020 to September 2023. Prior to joining us, Ms. White served as Senior Vice President and General Counsel at Imperva, Inc., a cybersecurity software company specializing in data and application protection, from 2018 to November 2020 and served in positions of increasing responsibility in the Imperva legal department from 2015 to 2018. Prior to joining Imperva, Ms. White was in private legal practice at Fenwick & West LLP, a law firm, from 2006 to 2015. Ms. White holds a B.A. from New York University and a J.D. from the University of California, College of the Law, San Francisco.

***Key employees***

*Hemant Banavar* has served as our Chief Product Officer since May 2025. Prior to that, he served as our Vice President of Financial Products from July 2023 to May 2025, Senior Director, Product Management from April 2022 to July 2023, Director, Product Management from September 2020 to April 2022, and Group Product Manager from April 2019 to September 2020. Prior to joining us, Mr. Banavar worked as a Product Manager at Stripe, Inc., a payment processing technology company, from 2017 to 2019. From 2015 to 2017, Mr. Banavar served as a Product Manager at UberEATS, a food delivery service operated by Uber Technologies, Inc. Mr. Banavar holds a B.A. in Computer Science from Shivaji University, an M.S. in Computer Science from Florida State University, and an M.B.A. from the Haas School of Business at the University of California, Berkeley.

*Robson Grieve* has served as our Chief Marketing Officer since October 2022. Prior to joining us, Mr. Grieve served as the Chief Marketing Officer of OutSystems, a low-code application development platform company, from April 2020 to October 2022. From 2019 to April 2020, Mr. Grieve served as the Chief Marketing Officer at Pure Storage, Inc., a data storage and flash technology company. Prior to that, from 2015 to 2018, Mr. Grieve served as the Chief Marketing Officer at New Relic, Inc., an AI-powered observability and application performance monitoring company. Mr. Grieve holds a B.A. in History from Queen's University in Ontario, Canada.

***Non-employee directors***

*Somesh Dash* has served as a member of our board of directors since December 2023. Mr. Dash has served as a general partner of Institutional Venture Partners ("IVP"), a venture capital firm, since 2015. Mr. Dash currently serves on the board of directors of various privately held companies. Mr. Dash holds a B.S. in Business Administration from the University of California, Berkeley, and an M.B.A. from the Stanford University Graduate School of Business. We believe Mr. Dash is qualified to serve as a member of our board of directors due to his extensive experience as a venture capitalist investing in technology companies.

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*Dana Evan* has served as a member of our board of directors since December 2021. Ms. Evan served as a Venture Partner at Icon Ventures, a venture capital firm, from 2013 to July 2020. Before joining Icon Ventures, Ms. Evan was the Chief Financial Officer at VeriSign, Inc., a network infrastructure company, from 1996 to 2007. Ms. Evan serves as an independent director on the board of directors of Box, Inc., Nextdoor Holdings, Inc., and Pendo. She previously served on the boards of directors of Domo, Inc., from 2018 to February 2023, Farfetch Limited from 2015 to December 2023, Momentive Global Inc. (formerly SurveyMonkey Inc.) from 2013 to May 2023, and Proofpoint, Inc. Ms. Evan is a Certified Public Accountant (inactive) and earned a B.S. in Commerce with a concentration in Accounting and Finance from Santa Clara University. She was recognized by the National Association of Corporate Directors as the 2019 Director of the Year. We believe Ms. Evan is qualified to serve as a member of our board of directors because of her extensive experience as a public company executive and director.

*Ilya Fushman* has served as a member of our board of directors since May 2025, and he previously served as a member of our board of directors from 2015 to 2018. Mr. Fushman has served as a partner at Kleiner Perkins, a venture capital firm, since 2018. Before joining Kleiner Perkins, Mr. Fushman was a general partner at Index Ventures, a venture capital firm, from 2015 to 2018. Prior to that, he held senior leadership positions at Dropbox Inc., a cloud-based file storage and collaboration platform, where he led product organization from 2013 to 2015. Mr. Fushman currently serves on the board of directors of various privately held companies. Mr. Fushman holds a B.S. in Physics from the California Institute of Technology and an M.S. in Electrical Engineering and a Ph.D. in Applied Physics from Stanford University. We believe Mr. Fushman is qualified to serve as a member of our board of directors because of his extensive experience as a venture capitalist investing in technology companies.

*Obaid Khan* is one of our co-founders and has served as a member of our board of directors since June 2023 and as our Chief Operating Officer from June 2021 to June 2023. Prior to that, he served as our Head of Operations from 2013 to June 2021. Prior to founding Motive, he worked in legislative affairs for a nonprofit organization. Mr. Khan holds a B.A. in Political Science and Economics from the University of California, San Diego. We believe Mr. Khan is qualified to serve as a member of our board of directors because of his perspective as one of our co-founders and former Chief Operating Officer.

*Alexander Niehenke* has served as a member of our board of directors since May 2017. He is a partner at Scale Venture Partners, a venture capital firm focused on early- and growth-stage technology companies, where he specializes in enterprise software investments and serves on the boards of several privately held companies. Mr. Niehenke joined Scale in 2013 after four years at Crosslink Capital, a venture capital firm, from 2009 to 2012 and four years at Montgomery & Company, a financial services and investment firm, from 2005 to 2009. He holds both a B.S. in Business Administration and a B.A. in Legal Studies from the University of California, Berkeley. We believe Mr. Niehenke's extensive venture capital experience and track record in guiding technology companies through growth and scale qualify him to serve on our board of directors.

*Aaron Schildkrout* has served as a member of our board of directors since September 2019 and as an advisor to us since 2013. Mr. Schildkrout was a founding investor and has been a partner at Addition LP, a venture capital firm, since January 2020. Prior to Addition, Mr. Schildkrout served as a technology advisor to various high-growth private companies. Mr. Schildkrout was a product and growth leader at Uber Technologies, Inc., a global ride-hailing and mobility platform, from 2015 to 2018. He was the co-founder and Co-Chief Executive Officer of social networking platform HowAboutWe, from 2009 to 2014, until its acquisition by IAC Inc. Mr. Schildkrout currently serves on the board of directors of various privately held companies. Mr. Schildkrout holds a B.A. in Social Studies from Harvard University. We believe Mr. Schildkrout is qualified to serve as a member of our board of directors because of his extensive experience as a technology executive, investor, and board member.

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**Family relationships**

Obaid Khan, our co-founder and a member of our board of directors, is the brother-in-law of Shoaib Makani, our co-founder, Chief Executive Officer, and a member of our board of directors. Outside of the foregoing relationship, there are no family relationships among any of our executive officers or directors.

**Code of business conduct and ethics**

Our board of directors will adopt, effective prior to the closing of this offering, a code of business conduct and ethics that applies to all of our employees, officers, and directors, including our Chief Executive Officer, Chief Financial Officer, and other executive and senior financial officers. The full text of our code of business conduct and ethics will be posted on the investor relations page on our website. We intend to disclose any amendments to our code of business conduct and ethics, or waivers of its requirements, on our website or in filings under the Exchange Act.

**Board of directors**

Our business and affairs are managed under the direction of our board of directors. Our board of directors currently consists of seven directors. Pursuant to our restated certificate of incorporation, as currently in effect, and the amended and restated voting agreement by and among us and certain holders of our capital stock, dated May 20, 2025 (the "Voting Agreement"), our current directors were elected as follows:

• Alexander Niehenke was elected by holders of our Series B convertible preferred stock and Series B senior convertible preferred stock as a designee nominated by Scale Venture Partners;

• Somesh Dash was elected by holders of our Series C convertible preferred stock and Series C senior convertible preferred stock as a designee nominated by IVP;

• Ilya Fushman was elected by holders of our Series F convertible preferred stock and Series F senior convertible preferred stock as a designee nominated by Kleiner Perkins;

• Dana Evan, Obaid Khan, and Shoaib Makani were designated and elected by holders of a majority of shares of our Class A common stock and Class B common stock, voting together as a single class; and

• Aaron Schildkrout was elected by holders of our Class A common stock, Class B common stock, and preferred stock then outstanding, voting together as a single class, as a designee of all other members of our board of directors then seated.

The Voting Agreement will terminate and the provisions of our restated certificate of incorporation, as currently in effect, by which our directors were elected will be amended and restated in connection with this offering and, following this offering, these contractual obligations regarding the election of our directors will no longer be in effect. After this offering, the number of directors will be fixed by our board of directors, subject to the terms of our restated certificate of incorporation and restated bylaws that will become effective immediately prior to the closing of this offering. Each of our current directors will continue to serve as a director until the election and qualification of their successor, or until their earlier death, resignation, or removal.

**Classified board of directors**

Upon the closing of this offering, our board of directors will consist of &nbsp;&nbsp;&nbsp;&nbsp; members and be divided into three classes of directors that will serve staggered three-year terms. At each annual meeting of stockholders, a class of directors will be elected for a three-year term to succeed the same class whose term is then expiring. As a result, only one class of directors will be elected at each annual meeting of our

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stockholders, with the other classes continuing for the remainder of their respective three-year terms. Our directors will be divided among the three classes as follows:

• the Class I directors will be &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and their terms will expire at the first annual meeting of stockholders to be held after the closing of this offering;

• the Class II directors will be &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and their terms will expire at the second annual meeting of stockholders to be held after the closing of this offering; and

• the Class III directors will be &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and their terms will expire at the third annual meeting of stockholders to be held after the closing of this offering.

Each director's term continues until the election and qualification of such director's successor, or such director's earlier death, resignation, or removal. Our restated certificate of incorporation and restated bylaws, each of which will become effective immediately prior to the closing of this offering, will authorize only our board of directors to fill vacancies on our board of directors. Any increase or decrease in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors. This classification of our board of directors may have the effect of delaying or preventing changes in control of our company. See the section titled "Description of capital stock—Anti-takeover provisions" for additional information.

**Director independence**

In connection with this offering, we intend to list our Class A common stock on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . Under the rules of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , independent directors must comprise a majority of a listed company's board of directors within a specified period after the closing of this offering. In addition, the rules of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; require that, subject to specified exceptions, each member of a listed company's audit, compensation, and nominating and corporate governance committees be independent. Under the rules of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , a director will only qualify as an "independent director" if, in the opinion of that company's board of directors, that person does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.

Additionally, compensation committee members must not have a relationship with us that is material to the director's ability to be independent from management in connection with the duties of a compensation committee member.

Audit committee members must also satisfy the independence criteria set forth in Rule 10A-3 under the Exchange Act. In order to be considered independent for purposes of Rule 10A-3, a member of an audit committee of a listed company may not, other than in such member's capacity as a member of the audit committee, the board of directors or any other board committee: accept, directly or indirectly, any consulting, advisory, or other compensatory fee from the listed company or any of its subsidiaries; or be an affiliated person of the listed company or any of its subsidiaries. We intend to satisfy the audit committee independence requirements of Rule 10A-3 as of the closing of this offering.

Our board of directors has undertaken a review of the independence of each director and considered whether each director has a material relationship with us that could compromise such director's ability to exercise independent judgment in carrying out that director's responsibilities. As a result of this review, our board of directors determined that each of directors other than &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; is an "independent director" as defined under the applicable rules and regulations of the SEC and the listing requirements and rules of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . In making these determinations, our board of directors reviewed and discussed information provided by the directors and by us with regard to each director's business and personal activities and relationships as they may relate to us and our management, including the beneficial ownership of our common stock by each non-employee director and the transactions involving them described in the section titled "Certain relationships and related party transactions."

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**Lead independent director**

Our board of directors will adopt, effective prior to the closing of this offering, corporate governance guidelines that provide that one of our independent directors will serve as our lead independent director. Our board of directors has appointed &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to serve as our lead independent director. As lead independent director,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; will provide leadership to our board of directors if circumstances arise in which the role of Chief Executive Officer and chairperson of our board of directors may be, or may be perceived to be, in conflict, and perform such additional duties as our board of directors may otherwise determine and delegate.

**Role of board in risk oversight**

Risk assessment and oversight are an integral part of our governance and management processes. Our board of directors encourages management to promote a culture that incorporates risk management into our corporate strategy and day-to-day business operations. Management discusses strategic and operational risks at regular management meetings and conducts specific strategic planning and review sessions during the year that include a focused discussion and analysis of the risks we face. Throughout the year, senior management reviews these risks with our board of directors at regular board meetings as part of management presentations that focus on particular business functions, operations, or strategies, and presents the steps taken by management to mitigate or eliminate such risks.

Our board of directors does not have a standing risk management committee. Our board of directors administers this oversight function directly and through various standing committees that address risks in their respective areas of oversight. While our board of directors is responsible for monitoring and assessing strategic risk exposure, our audit committee is responsible for overseeing our major financial and enterprise risk exposures and the steps our management has taken to monitor and control these exposures. Our audit committee also reviews any related person transactions. Our nominating and corporate governance committee monitors the effectiveness of our corporate governance guidelines. Our compensation committee assesses and monitors whether any of our compensation policies and programs has the potential to encourage excessive risk-taking.

**Committees of the board of directors**

Our board of directors has an audit committee, a compensation committee, and a nominating and corporate governance committee, each of which, pursuant to its respective charter, will have the composition and responsibilities described below upon the closing of this offering. Following the closing of this offering, copies of the charters for each committee will be available on the investor relations portion of our website. Members serve on these committees until their resignation or until otherwise determined by our board of directors.

***Audit committee***

Our audit committee is composed of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; is the chair of our audit committee. The members of our audit committee meet the independence requirements under &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and SEC rules. Each member of our audit committee is financially literate. In addition, our board of directors has determined that &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; is an "audit committee financial expert" as that term is defined in Item 407(d)(5)(ii) of Regulation S-K promulgated under the Securities Act. This designation does not, however, impose on him or her any supplemental duties, obligations or liabilities beyond those that are generally applicable to the other members of our audit committee and board of directors. Our audit committee's principal functions are to assist our board of directors in its oversight of:

• selecting a firm to serve as our independent registered public accounting firm to audit our consolidated financial statements;

• ensuring the independence of the independent registered public accounting firm;

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• discussing the scope and results of the audit with the independent registered public accounting firm, and reviewing, with management and that firm, our interim and year-end results of operations;

• establishing procedures for employees to anonymously submit concerns about questionable accounting or audit matters;

• considering the adequacy of our internal controls and internal audit function;

• reviewing our major risks and exposures and the monitoring and mitigation of such risks and exposures, including cybersecurity and other information technology risks;

• reviewing related party transactions that are material or otherwise implicate disclosure requirements; and

• approving, or as permitted, pre-approving all audit and non-audit services to be performed by the independent registered public accounting firm.

***Compensation committee***

Our compensation committee is composed of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; is the chair of our compensation committee. The members of our compensation committee meet the independence requirements under &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and SEC rules. Each member of this committee is also a "non-employee director" within the meaning of Rule 16b-3 under the Exchange Act. Our compensation committee is responsible for, among other things:

• reviewing and approving, or recommending that our board of directors approve, the compensation of our executive officers;

• reviewing and recommending to our board of directors to approve the compensation of our non-employee directors;

• reviewing and approving, or recommending that our board of directors approve, the terms of any compensatory agreements with our executive officers;

• administering our stock and equity incentive plans;

• reviewing and approving, or making recommendations to our board of directors with respect to, incentive compensation and equity plans; and

• establishing our overall compensation philosophy.

***Nominating and corporate governance committee***

Our nominating and corporate governance committee is composed of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; is the chair of our nominating and corporate governance committee. The members of our nominating and corporate governance committee meet the independence requirements under &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and SEC rules. Our nominating and corporate governance committee's principal functions include:

• identifying and recommending candidates for membership on our board of directors;

• recommending directors to serve on board committees;

• reviewing and recommending to our board of directors any changes to our corporate governance guidelines;

• reviewing proposed waivers of the code of conduct for directors and executive officers;

• overseeing any program relating to corporate responsibility and sustainability, including corporate sustainability matters;

• overseeing the process of evaluating the performance of our board of directors; and

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• advising our board of directors on corporate governance matters.

**Compensation committee interlocks and insider participation**

None of the members of our compensation committee is currently, or has been at any time, one of our officers or employees. None of our executive officers has served as a member of the board of directors, or as a member of the compensation or similar committee, of any entity that has one or more executive officers who served on our board of directors or compensation committee during 2024.

**Director compensation**

During 2024, other than as described below, we did not pay any fees, make any equity awards or non-equity awards, or pay any other compensation to our non-employee members of our board of directors. All compensation paid to Shoaib Makani, our only employee director, is set forth below in the section titled "Executive compensation—Summary compensation table."

The following table provides information regarding the compensation of Dana Evan for service as a director for 2024:

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| | | |
|:---|:---|:---|
| **Name** | **Fees earned or paid in cash ($)** | **Total ($)** |
| Dana Evan | 50000 | 50000 |

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The following table shows the aggregate numbers of shares of our Class A common stock underlying outstanding RSUs and options held by each of our non-employee directors as of December 31, 2024:

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| | |
|:---|:---|
| **Name** | **Number of shares underlying stock awards** |
| Somesh Dash |  |
| Dana Evan | 300000<sup>(1)</sup> |
| Ilya Fushman |  |
| Obaid Khan | 466145<sup>(2)</sup> |
| Alexander Niehenke |  |
| Aaron Schildkrout | 300000<sup>(3)</sup> |

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(1)Consists of 300,000 RSUs, which vest subject to (i) a service-based vesting condition, with 25% of underlying shares vesting annually, and (ii) a liquidity event-based vesting condition, which will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part. As of December 31, 2024, 75,000 shares of our Class A common stock underlying this award remained subject to the service-based vesting condition.

(2)Consists of (i) 262,500 RSUs, which vest subject to (A) a service-based vesting condition, which has been satisfied in full as of December 31, 2024, and (B) a liquidity event-based vesting condition, which will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part, and (ii) 203,645 restricted shares of our Class A common stock, which vest subject to a service-based vesting condition described below. Mr. Khan was granted 1,475,000 RSUs (the "Khan RSUs") on November 12, 2021 in consideration for his services as our employee. On June 15, 2023, in connection with Mr. Khan's appointment to our board of directors, Mr. Khan forfeited 1,212,500 Khan RSUs, which were unvested as of the transition, and retained 262,500 Khan RSUs, which were vested as of the appointment and are reflected in the table above. Mr. Khan was issued 2,369,322 restricted shares of our Class A common stock (the "Khan Restricted Shares") upon the early exercise of an option to purchase shares of our Class A common stock granted to Mr. Khan on December 12, 2018 in consideration for his services as our employee. On June 15, 2023, in connection with Mr. Khan's appointment to our board of directors, the Khan Restricted Shares were amended to revise the vesting schedule of 271,527 restricted shares of our Class A common stock that were unvested as of that date. Pursuant to this amendment, 25% of these unvested restricted shares vest on June 15 of each of 2024, 2025, 2026, and 2027, subject to Mr. Khan's continuous service as a member of our board of directors. As of December 31, 2024, 203,645 of the restricted shares remained subject to vesting, contingent on Mr. Khan's continued service to us. We have a right to repurchase any unvested restricted shares if Mr. Khan ceases to provide services to us prior to the date on which the shares would have vested.

(3)Consists of 300,000 RSUs, which vest subject to (i) a service-based vesting condition, with 25% of underlying shares vesting annually, and (ii) a liquidity event-based vesting condition, which will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part. As of December 31, 2024, 225,000 shares of our Class A common stock underlying this award remained subject to the service-based vesting condition.

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**Outside director compensation policy**

Before this offering, we did not have a formal policy to provide any cash or equity compensation to our non-employee directors for their service on our board of directors or committees of our board of directors. In connection with this offering, our board of directors expects to approve a non-employee director compensation policy, pursuant to which our non-employee directors will be eligible to receive certain cash retainers and equity awards.

Employee directors will receive no additional compensation for their service as a director.

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**Executive compensation**

Our named executive officers, consisting of our principal executive officer and the next two most highly compensated executive officers, as of December 31, 2024, were:

• Shoaib Makani, our co-founder, Chief Executive Officer, and a member of our board of directors;

• Adam Block, our Chief Revenue Officer; and

• Shu White, our Chief Legal Officer and Head of People.

**Summary compensation table**

The following table presents summary information regarding the total compensation for services rendered in all capacities that was awarded to, earned by, or paid to our named executive officers for 2024:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Name and principal position** | **Fiscal year** | **Salary ($)** | **Stock awards**<sup>(1)</sup> | **Non-equity incentive plan compensation ($)**<sup>(2)</sup> | **All other compensation ($)**<sup>(3)</sup> | **Total ($)** |
| Shoaib Makani<br>*Chief Executive Officer* | 2024 | 390000 |  | 184373 | 12606 | 586979 |
| Adam Block<br>*Chief Revenue Officer* | 2024 | 291667 |  | 344155 | 1500 | 637322 |
| Shu White<br>*Chief Legal Officer and Head of People* | 2024 | 391667 |  | 151280 | 1500 | 544447 |

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(1)Each of Mr. Block and Ms. White was granted RSUs that are subject to a service-based vesting condition and liquidity event-based vesting condition. As of the applicable grant date, we had not recognized stock-based compensation expense for these awards because achievement of the liquidity event-based vesting condition was not deemed probable. As a result, no value is included in the table for these awards. Assuming achievement of the liquidity event-based vesting condition, the aggregate grant-date fair values of the RSU awards for each of Mr. Block and Ms. White would have been $248,720 and $2,302,340, respectively, computed in accordance with ASC 718, and representing the highest level of liquidity event-based vesting condition achievement for these awards. For information regarding the assumptions used in determining the fair value of these awards, please refer to Note 10 "Stock-based compensation" in the accompanying notes to our consolidated financial statements included elsewhere in this prospectus.

(2)The amounts presented for Mr. Makani and Ms. White reflect performance bonuses earned based on the achievement of financial measures set forth in our 2024 executive performance bonus plan approved by our compensation committee. The amount presented for Mr. Block represents his payment earned pursuant to the metrics of his 2024 sales commission plan.

(3)The amount presented for Mr. Makani represents payment for personal administrative services. The amounts presented for Mr. Block and Ms. White represent matching contributions under our 401(k) plan.

**Narrative to summary compensation table**

***Base salaries***

Our named executive officers receive a base salary to provide a fixed component of compensation reflecting the executive's skill set, experience, role, and responsibilities. Mr. Makani's annual base salary as of December 31, 2024 was $390,000, Mr. Block's annual base salary as of December 31, 2024 was $300,000, and Ms. White's annual base salary as of December 31, 2024 was $400,000.

***Non-equity incentive plan compensation***

Mr. Makani and Ms. White participated in our 2024 executive performance bonus plan. As of December 31, 2024, Mr. Makani and Ms. White had a target bonus opportunity of 50% and 40% of their respective base salaries. Incentives under our 2024 executive performance bonus plan are earned annually based on achievement of certain financial measures for 2024. Amounts earned by each of Mr. Makani and Ms. White during 2024 under the 2024 executive performance bonus plan are set forth in the summary compensation table above in the "Non-equity incentive plan compensation" column.

Mr. Block participated in our 2024 sales compensation plan. During 2024, Mr. Block had a target variable compensation opportunity of 100% of his base salary, based on achievement of specified sales quotas.

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Amounts earned by Mr. Block during 2024 under the 2024 sales compensation plan are set forth in the summary compensation table above in the "Non-equity incentive plan compensation" column.

**Equity compensation**

From time to time, we have granted equity awards in the form of RSUs to our named executive officers. The RSUs are subject to vesting based on service-based, liquidity-based, and/or performance-based vesting conditions. In addition, in 2021, we granted Mr. Makani a performance-based stock option.

For additional information regarding equity compensation to our named executive officers, see the sections below titled "—Outstanding equity awards at fiscal 2024 year-end," "—2025 executive equity awards," and, with respect to Mr. Makani, "—CEO equity awards."

***Outstanding equity awards at fiscal 2024 year-end***

The following table presents, for each of our named executive officers, information regarding outstanding stock options and RSUs to acquire shares of common stock held as of December 31, 2024:

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **Option awards**<sup>(1)</sup> | **Option awards**<sup>(1)</sup> | **Option awards**<sup>(1)</sup> | **Option awards**<sup>(1)</sup> | **Option awards**<sup>(1)</sup> | **Stock awards**<sup>(1)</sup> | **Stock awards**<sup>(1)</sup> | **Stock awards**<sup>(1)</sup> | **Stock awards**<sup>(1)</sup> |
|<br>**Name** |<br>**First vesting date** |<br>**Grant date** | **Number of securities underlying unexercised options exercisable (#)** | **Number of securities underlying unexercised options unexercisable (#)** | **Equity incentive plan awards: number of securities underlying unexercised unearned options (#)** | **Option exercise price($)** | **Option expiration Date** | **Number of shares or units of stock that have not vested** | **Market value of shares or units of stock that have not vested ($)**<sup>(2)</sup> | **Equity incentive plan awards: number of unearned shares, units or other rights that have not vested**<br>**(#)** | **Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested**<br>**($)**<sup>(2)</sup> |
| Shoaib Makani  |  | 3/9/2021<sup>(3)</sup> |  |  | 16221640 | 0.83 | 3/8/2031 |  |  |  |  |
|  |  | 3/9/2021<sup>(4)</sup> |  |  |  |  |  |  |  | 4424084 |  |
|  | 4/9/2021 | 3/9/2021<sup>(5)</sup> |  |  |  |  |  |  |  | 184337 |  |
| Adam Block | 12/15/2022 | 1/26/2023<sup>(6)</sup> |  |  |  |  |  | 375000 |  |  |  |
|  | 6/15/2024 | 5/8/2024<sup>(7)</sup> |  |  |  |  |  | 64103 |  |  |  |
| Shu White | 12/15/2021 | 1/28/2021<sup>(8)</sup> |  |  |  |  |  | 1032286 |  |  |  |
|  | 12/15/2023 | 1/31/2024<sup>(9)</sup> |  |  |  |  |  | 25000 |  |  |  |
|  | 6/15/2024 | 5/8/2024<sup>(10)</sup> |  |  |  |  |  | 93696 |  |  |  |
|  | 3/15/2025 | 5/8/2024<sup>(11)</sup> |  |  |  |  |  | 478750 |  |  |  |

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(1)All of the outstanding stock options and stock awards were granted under the 2013 Plan.

(2)There was no public market for our Class A common stock as of December 31, 2024, so we have assumed that the fair market value of our Class A common stock on such date was $&nbsp;&nbsp;&nbsp;&nbsp; per share, which represents the midpoint of the estimated price range set forth on the cover page of this prospectus.

(3)The shares of our Class A common stock issuable upon the exercise of this option are exchangeable for shares of our Class B common stock pursuant to the Exchange Agreement. The shares of our Class A common stock underlying this option vest upon the satisfaction of certain market-based vesting conditions, subject to Mr. Makani's service to us as our Chief Executive Officer on such date. Mr. Makani voluntarily forfeited a portion of this option in April 2025. For additional information on these market-based vesting conditions, see the section titled "—CEO equity awards—CEO 2021 market-based equity awards."

(4)Represents restricted shares of our Class B common stock that were issued upon early exercise of a stock option to purchase shares of our Class A common stock. The shares of our Class A common stock issued upon the exercise of this option were exchanged for shares of our Class B common stock pursuant to the Exchange Agreement. The shares vest upon the satisfaction of certain market-based vesting conditions, subject to Mr. Makani's service to us as our Chief Executive Officer on such date. We have a right to repurchase any unvested shares subject to such award if Mr. Makani ceases to provide services to us prior to the date on which all shares subject to the award have vested. For additional information on these market-based vesting conditions, see the section titled "—CEO equity awards—CEO 2021 market-based equity awards."

(5)Represents restricted shares of our Class B common stock that were issued upon the early exercise of a stock option to purchase shares of our Class A common stock. The shares of our Class A common stock issued upon the exercise of this option were exchanged for shares of our Class B common stock pursuant to the Exchange Agreement. The restricted shares vest as to 1/48th of the total award on a monthly basis, with a First Vesting Date of April 9, 2021, subject to Mr. Makani's continued service to us. We have a right to repurchase any unvested shares subject to such award if Mr. Makani ceases to provide services to us prior to the date on which all shares subject to the award have vested.

(6)The RSUs vest based on the satisfaction of both a service-based vesting condition and a liquidity event-based vesting condition. The service-based vesting condition was satisfied as to 210,937 RSUs, and the liquidity event-based vesting condition was not satisfied as of December 31, 2024. The RSUs vest as to 1/16th of the total award and may be settled for shares of our Class A common stock on a quarterly basis, with a First Vesting Date of December 15, 2022, once the liquidity event-based vesting condition has been satisfied and subject to Mr. Block's continued service to us. The liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part.

(7)The RSUs vest based on the satisfaction of both a service-based vesting condition and a liquidity event-based vesting condition. The service-based vesting condition was satisfied as to 12,019 RSUs and the liquidity event-based vesting condition was not satisfied as of

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December 31, 2024. The RSUs vest as to 1/16th of the total award and may be settled for shares of our Class A common stock on a quarterly basis, with a First Vesting Date of June 15, 2024, once the liquidity event-based vesting condition has been satisfied and subject to Mr. Block's continued service to us. The liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part.

(8)The RSUs vest based on the satisfaction of both a service-based vesting condition and a liquidity event-based vesting condition. The service-based vesting condition was satisfied as to all of the RSUs and the liquidity event-based vesting condition was not satisfied as of December 31, 2024. The liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part.

(9)The RSUs vest based on the satisfaction of both a service-based vesting condition and a liquidity event-based vesting condition. The service-based vesting condition was satisfied as to all of the RSUs and the liquidity event-based vesting condition was not satisfied as of December 31, 2024. The liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part.

(10)The RSUs vest based on the satisfaction of both a service-based vesting condition and a liquidity event-based vesting condition. The service-based vesting condition was satisfied as to all of the RSUs and the liquidity event-based vesting condition was not satisfied as of December 31, 2024. The liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part.

(11)The RSUs vest based on the satisfaction of both a service-based vesting condition and a liquidity event-based vesting condition. The service-based vesting condition and liquidity event-based vesting condition were not satisfied as to any of the RSUs as of December 31, 2024. The RSUs vest as to 1/5th of the total award and may be settled for shares of our Class A common stock on a quarterly basis, with a First Vesting Date of March 15, 2025, once the liquidity event-based vesting condition has been satisfied and subject to Ms. White's continued service to us. The liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part.

***CEO equity awards***

*CEO 2025 performance-based equity award*

On May 15, 2025, our board of directors granted 2,765,052 RSUs to Shoaib Makani (the "2025 CEO Performance RSU"), which will vest based on the satisfaction, prior to May 15, 2032, of two vesting conditions: a performance-based vesting condition and a liquidity event-based vesting condition. We believe the 2025 CEO Performance RSU serves to align Mr. Makani's interests with those of our stockholders by creating a strong and visible link between Mr. Makani's incentives and our performance. Likewise, because it requires that Mr. Makani remain in service as our Chief Executive Officer through the achievement of the performance-based goals, as described below, it supports strong retention of his leadership.

The 2025 CEO Performance RSUs are allocated equally to three separate performance periods, one for each of 2025, 2026 and 2027. If the performance goals for a performance period are achieved, the applicable tranche will vest, subject to Mr. Makani's continuous service as our Chief Executive Officer, on the date when our board of directors or compensation committee determines that the applicable performance goal has been satisfied. If the performance goals for a performance period are not achieved, the applicable tranche will forfeit.

The metrics for the 2025 performance period are based on annual financial plan targets for 2025. The metrics for the 2026 and 2027 performance periods will be established by our board of directors or compensation committee at the start of each period based on annual financial plan targets for those performance periods.

The liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part.

*CEO 2025 service-based equity award*

On May 15, 2025, our board of directors granted 9,032,504 RSUs to Mr. Makani, which will vest based on the satisfaction, prior to May 15, 2032, of two vesting conditions: a service-based vesting condition and a liquidity event-based vesting condition. On August 6, 2025, our board of directors amended the service-based vesting condition of these RSUs to reflect the intended terms such that the service-based vesting condition was satisfied as to 921,684 RSUs as of the date of grant and 1/16th of the remaining 8,110,820 RSUs will vest on a quarterly basis with a first vesting date of March 15, 2025, subject to Mr. Makani's continuous service to us. The liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part.

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*CEO 2021 market-based equity awards*

On April 9, 2025, our board of directors approved an amendment (the "Option Amendment") to the performance stock option granted to Mr. Makani on March 9, 2021 (the "2021 CEO Performance Option"). The Option Amendment was intended to ensure that the 2021 CEO Performance Option would continue to provide the originally intended incentive and retention for Mr. Makani. Also on April 9, 2025, Mr. Makani voluntarily forfeited the majority of the 2021 CEO Performance Option, as described below.

The 2021 CEO Performance Option is an option to acquire a total of 20,645,724 shares of our Class A common stock (which number was reduced in connection with the Option Amendment, as described below) with an exercise price of $0.83 per share. Prior to the Option Amendment, the shares subject to the 2021 CEO Performance Option were divided into seven tranches subject to market-based vesting conditions relating to increasing stock price goals following an initial public offering.

Mr. Makani early-exercised the first two price-based tranches of the 2021 CEO Performance Option on March 23, 2021, for a total of 4,424,084 shares of our Class A common stock, which remain subject to the underlying market-based vesting conditions, as described below. These exercised shares were exchanged for shares of our Class B common stock pursuant to the Exchange Agreement.

In connection with the Option Amendment, Mr. Makani voluntarily forfeited the fifth, sixth, and seventh tranches, representing 11,797,556 shares of our Class A common stock subject to the 2021 CEO Performance Option. The Option Amendment (i) extended the last date on which the price goals may be achieved to March 8, 2031 for each of the tranches, (ii) removed the post-achievement service-based vesting condition such that Mr. Makani's service is required only through the date of achievement of an applicable tranche, and (iii) extended the post-termination exercise period of any then-vested and outstanding portion of shares subject to the 2021 CEO Performance Option to March 8, 2031, solely in the event that Mr. Makani's termination is not for cause.

After giving effect to the Option Amendment, the per share price goals for shares of our Class A common stock subject to the 2021 CEO Performance Option are as set forth in the following table:

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| | | |
|:---|:---|:---|
| **Tranche** | **Price goal ($)** | **Shares eligible to vest** |
| 1<sup>(1)</sup> | 9.82 | 2212042 |
| 2<sup>(1)</sup> | 19.64 | 2212042 |
| 3 | 29.46 | 2212042 |
| 4 | 39.28 | 2212042 |

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(1)Mr. Makani early-exercised the first and second tranches of the 2021 CEO Performance Option. The shares of our Class B common stock that were exchanged for shares of our Class A common stock issued upon early-exercise of the first and second tranches of the 2021 CEO Performance Option remain subject to the market-based vesting conditions described in the table.

A price goal will be achieved if the closing price of our Class A common stock on the applicable stock exchange remains at or above the price goal for a period of sixty consecutive calendar days. The price goal may not be measured prior to the expiration of the lock-up period. For additional information on the lock-up period, see the section titled "Underwriting."

As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, none of the price goals have been achieved.

*CEO 2021 service-based equity awards*

Also in March 2021, our board of directors granted Mr. Makani two service-based stock options to acquire a total of 5,898,778 shares of our Class A common stock with an exercise price of $0.83 per share, which remained unvested as to 184,337 shares as of December 31, 2024 (the "2021 CEO Service-Based Options"). Mr. Makani early-exercised the 2021 CEO Service-Based Options in full on March 23, 2021. These exercised shares were exchanged for shares of our Class B common stock pursuant to the Exchange Agreement.

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**Named executive officer offer letters**

***Shoaib Makani***

As our co-founder, Mr. Makani did not enter into an offer letter or any other formal arrangement or understanding with us regarding his employment. Mr. Makani is employed on an at-will basis, with no fixed term of employment. Mr. Makani will receive benefits upon certain qualifying terminations as described in the section titled "—Potential payments upon termination or change of control."

***Adam Block***

We are party to an offer letter agreement with Mr. Block, dated October 24, 2022 (the "Block Offer Letter"), which provides for "at-will" employment without a set term and entitled Mr. Block to an initial base salary of $275,000 and a signing bonus of $30,000. In addition, pursuant to the Block Offer Letter and an incentive pay plan, Mr. Block was eligible to receive a bonus equal to up to 100% of his base salary upon the achievement of certain performance targets. Finally, pursuant to the Block Offer Letter and an RSU award agreement between us and Mr. Block, dated January 26, 2023 (the "2023 RSUs"), Mr. Block was entitled to receive 375,000 shares of our Class A common stock upon settlement of the 2023 RSUs, which vest based on the satisfaction of two vesting conditions: a service-based vesting condition and a liquidity event-based vesting condition. The service-based vesting condition was satisfied as to 1/16th of the total award on December 15, 2022 and vests on a quarterly basis thereafter, subject to Mr. Block's continued service to us. The liquidity event-based vesting condition will be satisfied as described above.

In the event that Mr. Block's employment with us is terminated because of an Acquisition or Other Combination (each as defined below) by us or our successor without Cause (as defined below) within three months before or 12 months after the consummation of such Acquisition or Other Combination, then 25% of the remaining unvested shares of our Class A common stock subject to the 2023 RSUs immediately become vested shares.

For purposes of the Block Offer Letter:

• "Acquisition" means (i) any consolidation or merger in which we are a constituent entity or are a party in which our voting stock and other voting securities that are outstanding immediately prior to the consummation of such consolidation or merger represent, or are converted into, securities of the surviving entity of such consolidation or merger that, immediately after the consummation of such consolidation or merger, together possess less than 50% of the total voting power of all voting securities of such surviving entity that are outstanding immediately after the consummation of such consolidation or merger, (ii) a sale or other transfer by the holders thereof of our outstanding voting stock and/or other voting securities possessing more than 50% of the total voting power of all of our outstanding voting securities, whether in one transaction or in a series of related transactions, pursuant to an agreement or agreements to which we are a party and that has been approved by our board of directors, and pursuant to which such outstanding voting securities are sold or transferred to a single person or entity, to one or more persons or entities who are affiliates of each other, or to one or more persons or entities acting in concert, or (iii) the sale, lease, transfer or other disposition, in a single transaction or series of related transactions, by us and/or our subsidiaries, of all or substantially all of our and our subsidiaries' assets taken as a whole, except where such sale, lease, transfer, or other disposition is made to us by one or more of our wholly owned subsidiaries.

• "Cause" for Mr. Block's termination means (i) Mr. Block's unauthorized misuse of our trade secrets or proprietary information, (ii) Mr. Block's conviction of or plea of nolo contendere to a felony or a crime involving moral turpitude, (iii) Mr. Block's committing an act of fraud against us, or (iv) Mr. Block's gross negligence or willful misconduct in the performance of his duties that has had or will have a material adverse effect on our reputation or business.

• "Other Combination" means any (i) consolidation or merger in which we are a constituent entity and are not the surviving entity of such consolidation or merger or (ii) any conversion of us into another

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form of entity; provided that such consolidation, merger, or conversion does not constitute an Acquisition.

***Shu White***

We are party to an offer letter agreement with Ms. White, dated October 9, 2020 (the "White Offer Letter"), which provides for "at-will" employment without a set term and entitled Ms. White to an initial annual base salary of $300,000. In addition, pursuant to the White Offer Letter, Ms. White was eligible to receive a bonus equal to up to 25% of her base salary upon the achievement by her of certain management objectives and by us of certain performance objectives. Finally, pursuant to the White Offer Letter and an RSU award agreement between us and Ms. White, dated January 28, 2021 (the "2021 RSUs"), Ms. White was entitled to receive 1,032,286 shares of our Class A common stock upon settlement of the 2021 RSUs, which vest based on the satisfaction of two vesting conditions: a service-based vesting condition and a liquidity event-based vesting condition. The service-based vesting condition was satisfied as of December 31, 2024. The liquidity event-based vesting condition will be satisfied as described above.

In the event that Ms. White's employment with us is terminated because of a Change of Control (as defined below) (i) by us or our successor without Cause (as defined below) or (ii) by Ms. White for Good Reason (as defined below), in each case, within three months before or 12 months after the closing of the Change of Control, then all remaining unvested shares of our Class A common stock subject to the 2021 RSUs and any other then-outstanding unvested equity awards shall immediately become vested shares.

For purposes of the White Offer Letter:

• "Cause" for Ms. White's termination will exist at any time after the happening of one or more of the following events: (i) Ms. White's conviction of or plea of nolo contendere to any felony or crime of moral turpitude, (ii) Ms. White's act of fraud against us or our parent or subsidiary, (iii) unauthorized use or disclosure by Ms. White of any of our proprietary information or trade secrets or that of our parent or subsidiary, (iv) Ms. White's gross negligence or willful misconduct in the performance of her duties that has a material adverse effect on us or our parent or subsidiary, and/or (v) Ms. White's violation of our antidiscrimination and anti-harassment policies (as determined by us in our sole discretion).

• "Change of Control" means, in each case in one transaction or a series of transactions, (i) a sale of all or substantially all of our assets, (ii) any merger, consolidation, or other business combination transaction of us with or into another corporation, entity, or person, other than a transaction in which the holders of at least a majority of the shares of our voting capital stock outstanding immediately prior to such transaction continue to hold (either by such shares remaining outstanding or by their being converted into shares of voting capital stock of the surviving entity) at least a majority of the total voting power represented by the shares of our voting capital stock (or the surviving entity) outstanding immediately after such transaction in substantially the same proportion immediately after such transaction as existed immediately before such transaction; provided that a bona fide equity financing shall not be deemed a Change of Control, or (iii) the direct or indirect acquisition (including by way of a tender or exchange offer) by any person, or persons acting as a group, of beneficial ownership or a right to acquire beneficial ownership of shares representing a majority of the voting power of the then outstanding shares of our capital stock.

• "Good Reason" means any of the following taken without Ms. White's prior written consent, (i) a relocation of Ms. White's principal workplace by more than 50 miles from her then-current workplace, (ii) an adverse change in title or reporting or a material diminution in Ms. White's duties, responsibilities or authorities; provided that a transfer to a position that is substantially similar to the position held prior to the Change of Control shall not, in and of itself, constitute a material diminution in Ms. White's authority, duties or job responsibilities, or (iii) Ms. White's base salary is reduced by more than 10% (other than in connection with substantially similar decreases of base salaries of other similarly situated employees); and, in each case of (i), (ii), and (iii), if Ms. White terminates her employment within 60 days following the event that constitutes Good Reason and after having

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provided us written notice of such event, and we fail to reasonably cure the event within 30 days after receipt of her written notice.

**Other executive officer compensation**

Our Chief Financial Officer, Chirag Shah, is not a named executive officer for the year ended December 31, 2024. We are providing information regarding his offer letter and certain of his equity awards to provide clearer and more complete disclosure of our executive compensation program and adhere to a principles-based approach to our compensation disclosures.

***Offer letter***

We are party to an offer letter agreement with Mr. Shah, dated August 5, 2024 (the "Shah Offer Letter"), which provides for "at-will" employment without a set term and entitled Mr. Shah to an initial annual base salary of $425,000. In addition, pursuant to the Shah Offer Letter, Mr. Shah was eligible to receive a bonus equal to up to 60% of his base salary upon the achievement by him of certain management objectives and by us of certain performance objectives. To induce Mr. Shah to accept the position, we provided a sign-on bonus of $150,000, which is subject to prorated repayment if Mr. Shah's employment is terminated for Cause (as defined below) or Mr. Shah resigns without Good Reason (as defined below) prior to his one-year anniversary. Finally, pursuant to the Shah Offer Letter and an RSU award agreement between us and Mr. Shah, we granted Mr. Shah the equity awards described below.

In the event that Mr. Shah's employment with us is terminated because of a Change of Control (as defined below) (i) by us or our successor without Cause or (ii) by Mr. Shah for Good Reason, in each case, within three months before or 12 months after the closing of the Change of Control, then all remaining unvested shares of our Class A common stock subject to the CFO New Hire RSUs (as defined below) shall immediately become vested shares.

In addition, in the event that Mr. Shah's employment with us is terminated (i) by us or our successor without Cause or (ii) by Mr. Shah for Good Reason, Mr. Shah will receive a severance payment equal to 50% of the sum of his then-current base salary and annual target cash bonus. Further, pursuant to the Shah Offer Letter, if our board of directors implements a severance and/or change in control plan for Mr. Makani's direct reports, such plan will supersede this cash severance right.

For purposes of the Shah Offer Letter:

• "Cause" for Mr. Shah's termination will exist if Mr. Shah's employment is terminated by us for any of the following reasons: (i) Mr. Shah's willful and continued failure to substantially perform his duties (other than as a result of incapacity due to physical or mental illness), (ii) Mr. Shah's commission of any felony crime or any act of fraud, embezzlement, dishonesty, or other misconduct that has caused or is reasonably expected to result in, material injury to our company, (iii) unauthorized use or disclosure by Mr. Shah of any of our proprietary information or trade secrets of the Company or those of any third party to whom Mr. Shah owes an obligation of nondisclosure as a result of his employment with us, or (iv) Mr. Shah's material violation of any contract or agreement between Mr. Shah and us or the surviving entity or any statutory duty Mr. Shah owes to us or the surviving entity.

• "Change of Control" has the same meaning set forth in our standard form of RSU award agreement.

• "Good Reason" means any of the following actions taken without Mr. Shah's prior written consent: (i) Mr. Shah's Base Salary is reduced by more than 10%, unless such a reduction is part of a generalized salary reduction affecting similarly situated employees, (ii) Mr. Shah is required to report more than one day a week to a work location that is more than 30 miles from his home address on file with us, (iii) an adverse change in title or reporting or a material diminution in Mr. Shah's duties, responsibilities, or authorities, provided that following a Change in Control neither a mere change in title alone nor reassignment to a position that is substantially similar to the position held immediately prior to the Change in Control shall, in and of itself, constitute Good Reason, but if a Change in Control results in our company no longer being publicly listed, the diminution in responsibilities shall

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be deemed material as a result of our delisting from a stock exchange and shall constitute Good Reason, and further provided that before or after a Change in Control, Good Reason shall exist if Mr. Shah is no longer the sole company CFO, or (iv) our material violation of the Shah Offer Letter or any other contract or agreement between us and Mr. Shah. In each case, Mr. Shah must terminate his employment within 90 days following the event that constitutes Good Reason and after having provided us written notice of such event, and we fail to cure the event within 30 days after receipt of his written notice.

***CFO 2024 performance-based equity award***

On November 14, 2024, in accordance with the Shah Offer Letter, our board of directors granted 641,026 RSUs (the "2024 CFO Performance RSUs") to Mr. Shah, which will vest based on the satisfaction, prior to November 14, 2031, of two vesting conditions: a market-based vesting condition and a liquidity event-based vesting condition. In addition, prior to the amendment of the 2024 CFO Performance RSUs described below, the award required a time-based service requirement following achievement of the market-based vesting condition. The 2024 CFO Performance RSUs require the achievement of a stock price goal of $19.64 following our initial public offering**.** The price goal will be achieved if the closing price of our Class A common stock on the applicable stock exchange remains at or above $19.64 per share for a period of 60 consecutive calendar days commencing after the expiration of the lock-up period following our initial public offering. For additional information on the lock-up period, see the section titled "Underwriting." In addition, pursuant to the Shah Offer Letter, if any beneficial changes are made to the market-based vesting conditions of awards held by our Chief Executive Officer, corresponding changes will be made to the 2024 CFO Performance RSUs.

On May 15, 2025, our board of directors approved an amendment (the "CFO PSU Amendment") to the 2024 CFO Performance RSUs that removed the post-achievement time-based service requirement, such that Mr. Shah's service is required only through the date of achievement of an applicable tranche*.* This CFO PSU Amendment was implemented so that the 2024 CFO Performance RSUs would continue to substantively align with Tranche II of the 2021 CEO Performance Option.

***CFO 2024 service-based equity award***

On November 14, 2024, in accordance with the Shah Offer Letter, our board of directors granted 3,205,128 RSUs (the "CFO New Hire RSUs") to Mr. Shah, which will vest based on the satisfaction, prior to November 14, 2031, of two vesting requirements: a service-based vesting condition and a liquidity event-based vesting condition. The service-based vesting condition will be satisfied as to 1/4th of the RSUs on December 15, 2025, with an additional 1/16th of the RSUs vesting on each quarterly vesting date thereafter, subject to Mr. Shah's continuous service to us. Notwithstanding the foregoing, in the event we undergo a Change in Control (as defined in the applicable RSU award agreement) and Mr. Shah's employment is terminated without Cause or Mr. Shah resigns for Good Reason (each as defined in the Shah Offer Letter) within the period commencing three months prior to and ending 12 months following the Change in Control, 100% of the service-based vesting will be deemed satisfied. In addition, pursuant to the Shah Offer Letter, if any beneficial changes are made to the service-based vesting conditions of RSUs held by other members of the executive team, corresponding changes will be made to the CFO New Hire RSUs.

**Potential payments upon termination or change of control**

Prior to the closing of this offering, we anticipate adopting arrangements for our executive officers, including our named executive officers, that provide for payments and benefits on termination of employment or upon a termination in connection with a change of control.

**Stock plans**

We believe that our ability to grant equity-based awards is a valuable compensation tool that enables us to attract, retain, and motivate our employees, consultants, and directors by aligning their financial

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interests with those of our stockholders. The principal features of our equity incentive plans are summarized below. These summaries are qualified in their entirety by reference to the actual text of the plans, which are filed as exhibits to the registration statement of which this prospectus is a part.

***Amended and restated 2013 equity incentive plan***

In June 2013, we adopted the 2013 Plan, which was amended and restated from time to time and most recently in January 2025. The purpose of the 2013 Plan is to attract, retain, and motivate eligible employees, directors, and consultants whose contributions are important to the success of our business.

*Share Reserve.* As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, we had &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock reserved for issuance pursuant to grants under the 2013 Plan of which &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares remained available for grant. As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, (i) options to purchase &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock had been exercised and options to purchase &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares remained outstanding, with a weighted-average exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share, (ii) awards of RSUs covering &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock had been granted under the 2013 Plan and awards of RSUs covering &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock remained outstanding, (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of restricted stock had been granted and no shares of restricted stock remained outstanding, and (iv) no stock appreciation rights ("SARs") were granted under the 2013 Plan, and no such awards are expected to be granted prior to this offering. No new awards will be granted under the 2013 Plan upon the closing of this offering.

*Administration.* The 2013 Plan is administered by our board of directors or a committee appointed by our board of directors (the "administrator"). Subject to the terms of the 2013 Plan, the administrator has the authority to, among other things, select the persons to whom awards will be granted, construe and interpret the 2013 Plan, and prescribe, amend, and rescind the 2013 Plan and awards granted thereunder. The administrator may modify awards subject to the terms of the 2013 Plan.

*Eligibility.* Pursuant to the 2013 Plan, we may grant incentive stock options ("ISOs") only to our employees or the employees of our parent or subsidiaries, as applicable (including officers and directors who are also employees). We may grant non-statutory stock options ("NSOs"), RSUs, SARs, and shares of restricted stock to our employees (including officers and directors who are also employees), non-employee directors, and consultants, or the employees, directors, and consultants of our subsidiaries, as applicable.

*Stock Options.* The 2013 Plan provides for the grant of both (i) ISOs, which are intended to qualify for tax treatment as set forth under Section 422 of the Code and (ii) NSOs to purchase shares of our Class A common stock. The exercise price of each option is determined by the administrator and must equal at least the fair market value of our Class A common stock on the date of grant, unless otherwise determined by the administrator. However, the exercise price of ISOs granted to an individual who owns more than ten percent of the total combined voting power of all classes of our capital stock must be at least equal to 110% of the fair market value of our Class A common stock on the date of grant. The administrator will determine the vesting schedule applicable to each option. The maximum term of options granted under the 2013 Plan is ten years from the date of grant, except that the maximum permitted term of ISOs granted to an individual who owns more than ten percent of the total combined voting power of all classes of our capital stock is five years from the date of grant.

*Restricted Stock Units.* The 2013 Plan also allows for the grant of RSUs with terms as generally determined by the administrator in accordance with the 2013 Plan and set forth in an award agreement. RSUs granted under the 2013 Plan represent the right to receive shares of our Class A common stock at a specified date in the future, subject to satisfaction of certain vesting conditions.

*Restricted Stock Awards.* Awards of restricted stock represent an offer by us to sell shares of our Class A common stock subject to restrictions which may lapse based on terms and conditions determined by our Board of Directors or applicable committee. Holders of restricted stock are entitled to vote and, unless otherwise determined by our board of directors, are entitled to receive all dividends and distributions with respect to such shares. Any dividends or stock distributions paid pursuant to any unvested shares of

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restricted stock will be subject to the same restrictions on transferability and forfeiture as the restricted stock.

*Other Awards.* The 2013 Plan also provides for the grant of SARs, which may be settled in cash, shares of our Class A common stock, RSUs, or a combination thereof. SARs must be granted with an exercise price not lower than the fair market value of our Class A common stock on the grant date, as determined by the administrator, and for a term no longer than ten years from the grant date. We have not granted SARs as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025.

*Limited Transferability*. Unless otherwise determined by the administrator, awards granted under the 2013 Plan generally may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will, the laws of descent and distribution and, with respect to NSOs, by instrument to an inter vivos or testamentary trust in which the NSOs are to be passed to beneficiaries upon the death of the trustor, or by gift to a qualified family member.

*Acquisition or Other Combination.* In the event of an acquisition or other combination (each as defined in the 2013 Plan), the 2013 Plan provides that outstanding awards will be treated in the manner provided in the acquisition agreement, and may (i) be continued, assumed, or substituted with substantially equivalent awards of any successor corporation or affiliate, with appropriate adjustments as to the number of shares and exercise or purchase prices; (ii) become vested or exercisable, in full or in part; (iii) be terminated for no consideration or in exchange for an amount of cash or securities followed by the cancellation of such awards; or (iv) any combination of the foregoing. After giving effect to the foregoing, any awards outstanding under the 2013 Plan that are not assumed or substituted will terminate if not exercised, as applicable, immediately following the consummation of the acquisition or other combination.

*Adjustments*. In the event that the number of outstanding shares of our Class A common stock is changed by a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification, or other change in our capital structure affecting our shares without consideration, then in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the 2013 Plan (i) the number of shares reserved for issuance under the 2013 Plan, (ii) the exercise prices of and number shares subject to outstanding options and SARs, and (iii) the purchase prices of and/or number shares subject to other outstanding awards will (to the extent appropriate) be proportionately adjusted (subject to any required action by our board of directors or stockholders).

*Exchange, repricing, and buyout of awards*. The administrator may issue new awards in exchange for the surrender and cancellation of any or all outstanding awards, provided that any such action will require the consent of the respective participants to the extent that any such action would impair any of the participants' existing rights. The administrator may, without prior stockholder approval, reduce the exercise price of options or SARs or buy an award previously granted with payment in cash, shares, or other consideration, in each case, subject to the terms of the 2013 Plan.

*Amendment; Termination.* Our board of directors may amend or terminate the 2013 Plan at any time and may terminate any and all outstanding options or SARs upon a dissolution or liquidation of us, provided that certain amendments will require stockholder approval or participant consent. We expect to terminate the 2013 Plan and will cease issuing awards thereunder upon the effectiveness of the 2025 Plan (described below), which will occur on the date immediately prior to the date of the effectiveness of the registration statement of which this prospectus forms a part. Any outstanding awards granted under the 2013 Plan will remain outstanding following this offering, subject to the terms of the 2013 Plan and applicable award agreements, until such awards are exercised, terminate, or expire by their terms.

***2025 equity incentive plan***

In &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, our board of directors and our stockholders approved the 2025 Plan as a successor to the 2013 Plan, which will become effective on the date immediately prior to the effectiveness of the registration statement of which this prospectus forms a part. The 2025 Plan authorizes the award of both ISOs, which are intended to qualify for tax treatment under Section 422 of the Code, and NSOs, as well

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for the award of restricted stock awards ("RSAs"), SARs, RSUs, and performance and stock bonus awards. Pursuant to the 2025 Plan, ISOs may be granted only to our employees. We may grant all other types of awards to our employees, directors, and consultants.

*Share Reserve*. We have initially reserved&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class A common stock, plus any reserved shares of our Class A common stock not issued or subject to outstanding grants under the 2013 Plan on the effective date of the 2025 Plan, for issuance as our Class A common stock pursuant to awards granted under the 2025 Plan. The number of shares reserved for issuance under the 2025 Plan will increase automatically on January 1 of each of 2026 through 2035 by the number of shares equal to the lesser of (i)&nbsp;&nbsp;&nbsp;&nbsp; % of the aggregate number of outstanding shares of all classes of our common stock plus the total number of shares of our Class A common stock issuable upon conversion of preferred stock (if any), in each case as of the immediately preceding December 31, or (ii) such number as may be determined by our board of directors or our compensation committee.

In addition, the shares set forth below will again be available for issuance pursuant to awards granted under the 2025 Plan:

• shares subject to options or SARs granted under the 2025 Plan that cease to be subject to the option or SAR for any reason other than exercise of the option or SAR;

• shares subject to awards granted under the 2025 Plan that are subsequently forfeited or repurchased by us at the original issue price;

• shares subject to awards granted under the 2025 Plan that otherwise terminate without such shares being issued;

• shares subject to awards granted under the 2025 Plan that are surrendered, cancelled, or exchanged for cash or a different award (or combination thereof);

• shares issuable upon the exercise of options granted under the 2013 Plan that, after the effective date of the 2025 Plan, are forfeited;

• shares subject to awards granted under the 2013 Plan that are forfeited or repurchased by us at the original price after the effective date of the 2025 Plan; and

• shares subject to awards under the 2013 Plan or the 2025 Plan that are used to pay the exercise price of an option or withheld to satisfy the tax withholding obligations related to any award.

Shares of our Class A common stock that were either reserved, but not issued under the 2013 Plan as of the date of this prospectus, or issued under the 2013 Plan and later become available for grant under the 2025 Plan, either as set forth above, shall be issued under the 2025 Plan only as shares of our Class A common stock under the 2025 Plan.

*Administration.* The 2025 Plan will be administered by our compensation committee or by our board of directors acting in place of our compensation committee. Subject to the terms and conditions of the 2025 Plan, the administrator will have the authority, among other things, to select the persons to whom awards may be granted, construe and interpret the 2025 Plan as well as to determine the terms of such awards and prescribe, amend, and rescind the rules and regulations relating to the 2025 Plan or any award granted thereunder. The 2025 Plan provides that the administrator may delegate its authority, including the authority to grant awards, to one or more executive officers to the extent permitted by applicable law, provided that awards granted to non-employee directors may only be determined by our board of directors.

*Options.* The 2025 Plan provides for the grant of both ISOs intended to qualify under Section 422 of the Code, and NSOs to purchase shares of our Class A common stock at a stated exercise price. ISOs may only be granted to employees, including officers and directors who are also employees. The exercise price of stock options granted under the 2025 Plan must be at least equal to the fair market value of our Class A common stock on the date of grant. ISOs granted to an individual who holds, directly or by

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attribution, more than ten percent of the total combined voting power of all classes of our capital stock must have an exercise price of at least 110% the fair market value of our Class A common stock on the date of grant.

Options may vest based on service and/or achievement of performance conditions, as determined by the administrator. The administrator may provide for options to be exercised only as they vest or to be immediately exercisable, with any shares issued on exercise being subject to our right of repurchase that lapses as the shares vest. No more than &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares may be issued pursuant to ISOs. The maximum term of options granted under the 2025 Plan is ten years from the date of grant, except that the maximum permitted term of ISOs granted to an individual who holds, directly or by attribution, more than ten percent of the total combined voting power of all classes of our capital stock is five years from the date of grant.

*Restricted Stock Awards*. An RSA is an offer by us to grant or sell shares of our Class A common stock subject to restrictions, which may lapse based on the satisfaction of service and/or achievement of performance conditions. The price, if any, of an RSA will be determined by the administrator. Holders of RSAs, unlike holders of options, will have the right to vote and any dividends or distributions paid with respect to such shares will be subject to the same vesting terms and other restrictions as the RSA and will be accrued and paid when the vesting terms on such shares lapse. Unless otherwise determined by the administrator, vesting will cease on the date the participant no longer provides services to us and unvested shares may be forfeited to or repurchased by us.

*Stock Appreciation Rights.* A SAR provides for a payment, in cash or shares of our Class A common stock (up to a specified maximum of shares, if determined by the administrator), to the participant based upon the difference between the fair market value of our Class A common stock on the date of exercise and a predetermined exercise price, multiplied by the number of shares. SARs may vest based on service and/or achievement of performance conditions. No SAR may have a term that is longer than ten years from the date of grant.

*Restricted Stock Units.* An RSU represents the right to receive shares of our Class A common stock at a specified date in the future and may be subject to vesting based on service and/or achievement of performance conditions. RSUs may be settled in cash, shares of our Class A common stock, or a combination of both as soon as practicable following vesting or on a later date subject to the terms of the 2025 Plan and any applicable award agreement (which may provide for settlement only in shares). No RSU may have a term that is longer than ten years from the date of grant.

*Performance Awards.* A performance award granted pursuant to the 2025 Plan may be in the form of a cash bonus, or an award of performance shares or performance units denominated in shares of our Class A common stock that may be settled in cash, property, or by issuance of those shares, subject to the satisfaction or achievement of specified performance conditions.

*Stock Bonus Awards.* A stock bonus award provides for payment in the form of cash, shares of our Class A common stock, or a combination thereof, based on the fair market value of shares subject to such award as determined by the administrator. The awards may be granted as consideration for services already rendered, or at the discretion of the administrator, may be subject to vesting restrictions based on continued service and/or performance conditions.

*Dividend Equivalent Rights.* Dividend equivalent rights may be granted at the discretion of the administrator and represent the right to receive the value of dividends, if any, paid by us in respect of the number of shares of our Class A common stock underlying an award. Dividend equivalent rights will be subject to the same vesting or performance conditions as the underlying award and will be paid only when the underlying award becomes vested or may be deemed to have been reinvested by us.

*Change of Control.* The 2025 Plan provides that, in the event of a corporate transaction that constitutes a change of control of our company under the terms of the plan, outstanding awards will be subject to the agreement evidencing the change of control, which need not treat all outstanding awards in an identical manner, and may include one or more of the following: (i) the continuation of the outstanding awards,

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(ii) the assumption of the outstanding awards by the surviving corporation or its parent, (iii) the substitution by the surviving corporation or its parent of new options or equity awards for the outstanding awards, (iv) the full or partial acceleration of exercisability or vesting or lapse of our right to repurchase or other terms of forfeiture and accelerated expiration of the award, or (v) the settlement of the full value of the outstanding awards (whether or not then vested or exercisable) in cash, cash equivalents, or securities of the successor entity with a fair market value equal to the required amount, as determined in accordance with the 2025 Plan, which payments may be deferred until the date or dates the award would have become exercisable or vested. Notwithstanding the foregoing, upon a change of control the vesting of all awards granted to our non-employee directors will accelerate and such awards will become exercisable, to the extent applicable, and vested in full immediately prior to the consummation of the change of control. In the event the successor refuses to assume, convert, replace or substitute awards as provided above pursuant to a corporate transaction, our compensation committee will notify each participant that such award will, if exercisable, be exercisable or vested for a period of time determined by the committee and expire after such period.

*Adjustment.* In the event of a change in the number or class of outstanding shares of our Class A common stock, without consideration, by reason of a stock dividend, extraordinary dividend or distribution (whether in cash, shares, or other property, other than a regular cash dividend), recapitalization, stock split, reverse stock split, subdivision, combination, consolidation, reclassification, spin-off, or similar change in our capital structure, proportional adjustments will be made to (i) the number and class of shares reserved for issuance under the 2025 Plan, (ii) the exercise prices, number, and class of shares subject to outstanding options or SARs, (iii) the number and class of shares subject to other outstanding awards, and (iv) any applicable maximum as award limits with respect to ISOs.

*Exchange, Repricing, and Buyout of Awards*. The administrator may, without prior stockholder approval, (i) reduce the exercise price of outstanding options or SARs without the consent of any participant (provided that written notice of the repricing is provided to such participants) and (ii) pay cash or issue new awards in exchange for the surrender and cancellation of any, or all, outstanding awards, subject to the consent of any affected participant to the extent required by the terms of the 2025 Plan.

*Director Compensation Limits*. No non-employee director may receive awards under the 2025 Plan in consideration for such director's service as a non-employee director with a grant date value that when combined with cash compensation received for such director's service as a non-employee director, exceed $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in a calendar year or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in the calendar year of the director's initial service as a non-employee director on our board of directors. Awards granted, or cash compensation paid, to an individual while the individual was serving in the capacity as an employee or in consideration of services as a consultant will not count for purposes of this limitation.

*Clawback; Transferability*. All awards will be subject to clawback or recoupment pursuant to any compensation clawback or recoupment policy adopted by our board of directors or required by law, to the extent set forth in such policy or applicable agreement. Except in limited circumstances, awards granted under the 2025 Plan may generally not be transferred in any manner other than by will or by the laws of descent and distribution.

*Sub-plans*. Subject to the terms of the 2025 Plan, the plan administrator may establish a sub-plan under the 2025 Plan and/or modify the terms of awards granted to participants outside of the United States to comply with any laws or regulations applicable to any such jurisdiction.

*Amendment; Termination.* Our board of directors or compensation committee may amend the 2025 Plan at any time, subject to stockholder approval as may be required. The 2025 Plan will terminate ten years from the date our board of directors adopts the plan, unless it is terminated earlier by our board of directors. No termination or amendment of the 2025 Plan may adversely affect any then-outstanding award without the consent of the affected participant, except as is necessary to comply with applicable laws or as otherwise provided by the terms of the 2025 Plan.

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***2025 employee stock purchase plan***

In&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, our board of directors and our stockholders approved the 2025 ESPP, which will become effective upon the date the registration statement of which this prospectus forms a part becomes effective, to enable eligible employees to purchase shares of our Class A common stock with accumulated payroll deductions.

The 2025 ESPP includes two components: a "423 Component" and a "Non-423 Component." We intend the 423 Component to qualify as options issued under an "employee stock purchase plan" as that term is defined in Section 423(b) of the Code. Except as otherwise provided in the 2025 ESPP or determined by our board of directors or compensation committee, the Non-423 Component will operate and be administered in the same manner as the 423 Component.

*Share Reserve*. We have initially reserved&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock for issuance and sale under the 2025 ESPP. The number of shares reserved for issuance and sale under the 2025 ESPP will increase automatically on January 1 of each of 2026 through 2035 by the number of shares equal to the lesser of (i) the number of shares equal to &nbsp;&nbsp;&nbsp;&nbsp; % of the sum of the total number of outstanding shares of all classes of our common stock plus the total number of shares of our Class A common stock issuable upon conversion of preferred stock (if any), in each case outstanding as of the immediately preceding December 31, and (ii) such number of shares of our Class A common stock as may be determined by our board of directors or compensation committee; provided, that our board of directors or compensation committee may in its sole discretion reduce the amount of the increase in any particular calendar year. Subject to stock splits, recapitalizations, or similar events, no more than&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock may be issued over the term of the 2025 ESPP.

*Administration*. The 2025 ESPP will be administered by our compensation committee or by our board of directors acting in place of our compensation committee, subject to the terms and conditions of the 2025 ESPP. Among other things, the administrator will have the authority to determine eligibility for participation in the 2025 ESPP (to the extent permitted by applicable law), designate separate offerings under the plan (and determine the length of such offerings), and construe, interpret, and apply the terms of the plan.

*Eligibility.* Employees eligible to participate in any offering pursuant to the 2025 ESPP generally include any employee that is employed by us or certain of our designated subsidiaries at the beginning of the offering period. However, the administrator may exclude employees who have been employed for less than two years, are customarily employed for 20 hours or less per week, are customarily employed for five months or less in a calendar year, are certain highly compensated employees as determined in accordance with applicable tax laws or are certain employees who are citizens or residents of a foreign jurisdiction if such participation is prohibited under applicable local laws or would violate the requirements of Section 423 of the Code (with respect to an offering under a 423 Component). In addition, any employee who owns (or is deemed to own because of attribution rules) 5% or more of the total combined voting power or value of all classes of our capital stock, or the capital stock of one of our qualifying subsidiaries, or who will own such amount because of participation in the 2025 ESPP, will not be eligible to participate in the 2025 ESPP. The administrator may impose additional restrictions on eligibility from time to time.

*Offerings.* Under the 2025 ESPP, eligible employees will be offered the option to purchase shares of our Class A common stock at a discount over a series of offering periods through accumulated payroll deductions over the period. Each offering period may itself consist of one or more purchase periods. No offering period may be longer than 27 months. The purchase price for shares purchased under the 2025 ESPP during any given purchase period will be 85% of the lesser of the fair market value of our Class A common stock on (i) the first trading day of the applicable offering period or (ii) the last trading day of the applicable purchase period.

No participant may purchase more than&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock (or such greater or lesser number as our compensation committee may determine) during any one purchase period, and may not subscribe for more than $25,000 in fair market value of shares of our Class A common stock

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(determined as of the date the offering period commences) in any calendar year in which the offering is in effect.

*Adjustments Upon Recapitalization.* If the number or class of outstanding shares of our Class A common stock is changed by stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification, or similar change in our capital structure without consideration, then the administrator will proportionately adjust the number or class of shares of our Class A common stock that are available under the 2025 ESPP, the purchase price and number or class of shares any participant has elected to purchase as well as the maximum number of shares which may be purchased by participants.

*Change of Control.* If we experience a change of control transaction as determined under the terms of the 2025 ESPP, any offering period then in effect will be shortened and terminated on a final purchase date established by the administrator. The final purchase date will occur on or prior to the effective date of the change of control transaction, and the 2025 ESPP will terminate on the closing of the change of control.

*Transferability.* Participants may generally not assign, transfer, pledge, or otherwise dispose of payroll deductions credited to their account or any rights regarding an election to purchase shares pursuant to the 2025 ESPP other than by will or the laws of descent or distribution.

*Amendment; Termination.* Our board of directors or compensation committee may amend, suspend, or terminate the 2025 ESPP at any time without stockholder consent, except as required by law. Unless earlier terminated, the 2025 ESPP will terminate upon the earlier to occur of the issuance of all shares of our Class A common stock reserved for issuance under the 2025 ESPP, or the tenth anniversary of the effective date.

**Welfare and other benefits**

We provide health, dental, vision, life, and disability insurance benefits to our named executive officers, on the same terms and conditions as provided to all other eligible U.S. employees.

We also sponsor a broad-based 401(k) plan intended to provide eligible U.S. employees with an opportunity to defer eligible compensation up to certain annual limits. As a tax-qualified retirement plan, contributions (if any) made by us are deductible by us when made, and contributions and earnings on those amounts are generally not taxable to the employees until withdrawn or distributed from the 401(k) plan. Our named executive officers are eligible to participate in our employee benefit plans, including our 401(k) plan, on the same basis as our other employees.

**Compensation recovery policy**

Before the closing of this offering, we intend to adopt a compensation recovery policy (the "Compensation Recovery Policy"). The Compensation Recovery Policy will be in accordance with the final rules regarding recovery of erroneously awarded executive officer compensation in connection with an accounting restatement, as adopted by the SEC, and consistent with the corresponding listing standards (together, the "Clawback Rules"). Pursuant to the Compensation Recovery Policy, and subject to certain limited exceptions in the Clawback Rules, in the event we are required to restate our financial statements, we will be required to recoup erroneously awarded incentive-based compensation (as described in the Clawback Rules, including both cash and equity compensation) paid to any current or former executive officer (as described in the Clawback Rules) during the three completed fiscal years immediately prior to the date the accounting restatement was required. The amount recoverable is the amount of any incentive-based compensation received by the executive officer based on the financial statements prior to the restatement that exceeds the amount that such executive officer would have received had the incentive-based compensation been determined based on the financial restatement.

**Limitations on liability and indemnification matters**

Our restated certificate of incorporation that will become effective immediately prior to the closing of this offering contains provisions that will limit the liability of our directors and officers for monetary damages to

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the fullest extent permitted by the DGCL. Consequently, our directors and officers will not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duties as directors or officers, except liability for:

• any breach of the director's or officer's duty of loyalty to us or our stockholders;

• any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;

• unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the DGCL;

• any transaction from which the director or officer derived an improper personal benefit; and

• with respect to officers, any action by or in the right of the corporation.

Our restated certificate of incorporation and our restated bylaws will require us to indemnify our directors and officers to the maximum extent not prohibited by the DGCL and allow us to indemnify other employees and agents as set forth in the DGCL. Subject to certain limitations, our restated bylaws will also require us to advance expenses incurred by our directors and officers for the defense of any action for which indemnification is required or permitted, subject to very limited exceptions.

We have entered, and intend to continue to enter, into separate indemnification agreements with our directors, officers, and certain of our other employees. These agreements, among other things, require us to indemnify our directors, officers, and key employees for certain expenses, including attorneys' fees, judgments, fines, and settlement amounts actually and reasonably incurred by such director, officer, or key employee in any action or proceeding arising out of their service to us or any of our subsidiaries or any other company or enterprise to which the person provides services at our request. Subject to certain limitations, our indemnification agreements also require us to advance expenses incurred by our directors, officers, and key employees for the defense of any action for which indemnification is required or permitted.

We believe that these provisions in our restated certificate of incorporation and indemnification agreements are necessary to attract and retain qualified persons such as directors, officers, and key employees. We also maintain directors' and officers' liability insurance.

The limitation of liability and indemnification provisions in our restated certificate of incorporation and restated bylaws may discourage stockholders from bringing a lawsuit against our directors and officers for breaches of their fiduciary duties. They may also reduce the likelihood of derivative litigation against our directors and officers, even though an action, if successful, might benefit us and other stockholders. Further, a stockholder's investment may be adversely affected to the extent that we pay the costs of settlement and damage awards against directors and officers as required by these indemnification provisions.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, executive officers, or persons controlling us, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

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**Certain relationships and related party transactions**

In addition to the compensation arrangements discussed in the sections titled "Management" and "Executive compensation," the following is a description of each transaction since January 1, 2022 and each currently proposed transaction in which:

• we have been or are to be a participant;

• the amount involved exceeded or will exceed $120,000; and

• any of our directors, executive officers, or holders of more than 5% of our outstanding capital stock, or any immediate family member of, or person sharing the household with, any of these individuals, had or will have a direct or indirect material interest.

**Series F convertible preferred stock financing**

In multiple closings between May and October 2022, we sold an aggregate of 22,980,765 shares of our Series F convertible preferred stock at a purchase price of $7.80 per share for an aggregate purchase price of approximately $180.0 million. Each share of our Series F convertible preferred stock will automatically convert into one share of our Class A common stock immediately prior to the closing of this offering.

The following table summarizes the shares of our Series F convertible preferred stock purchased by entities affiliated with certain of our directors and holders of more than 5% of our outstanding capital stock:

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| | | |
|:---|:---|:---|
| **Name** | **Shares of Series F convertible preferred stock** | **Total purchase price ($)** |
| Entities affiliated with Google Ventures<sup>(1)</sup> | 128205 | 999999 |
| Entities affiliated with Greenoaks<sup>(2)</sup> | 128205 | 999999 |
| Entities affiliated with Index Ventures<sup>(3)</sup> | 256410 | 1999998 |
| Entities affiliated with Insight Partners<sup>(4)</sup> | 10576923 | 82499999 |
| Entity affiliated with Kleiner Perkins<sup>(5)</sup> | 7692307 | 59999995 |
| Entity affiliated with Scale Venture Partners<sup>(6)</sup> | 64102 | 499996 |

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(1)Consists of shares held by entities affiliated with Google Ventures, which beneficially owns more than 5% of our outstanding capital stock.

(2)Consists of shares held by entities affiliated with Greenoaks, which beneficially owns more than 5% of our outstanding capital stock.

(3)Consists of shares held by entities affiliated with Index Ventures, which beneficially owns more than 5% of our outstanding capital stock. Mark Goldberg, a former member of our board of directors who served until November 2023, was a partner at Index Ventures until December 2023.

(4)Consists of shares held by entities affiliated with Insight Partners, which beneficially owns more than 5% of our outstanding capital stock.

(5)Consists of shares held by an entity affiliated with Kleiner Perkins, which beneficially owns more than 5% of our outstanding capital stock. Ilya Fushman, a member of our board of directors, is a partner at Kleiner Perkins.

(6)Consists of shares held by an entity affiliated with Scale Venture Partners, which beneficially owns more than 5% of our outstanding capital stock. Alexander Niehenke, a member of our board of directors, is a partner at Scale Venture Partners.

**Convertible securities financings**

In May and July 2025, we issued and sold $150.0 million of 2025 Convertible Securities pursuant to a convertible securities purchase agreement (the "Purchase Agreement"). As of its applicable issue date, each 2025 Convertible Security reflects a balance equal to 1.8 times the initial purchase amount of such 2025 Convertible Security (the "Initial Return"). Beginning on the one-year anniversary of the applicable issue date, each 2025 Convertible Security accrues yield on the Initial Return at a rate of 18.0% per annum. The Initial Return of each 2025 Convertible Security, including accrued yield, if any, will

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automatically convert into shares of our Class A common stock in connection with the closing of this offering pursuant to the terms of the 2025 Convertible Securities.

Pursuant to the Purchase Agreement, holders of our existing convertible preferred stock that purchased an amount of 2025 Convertible Securities were eligible to automatically exchange up to all of their existing shares of our convertible preferred stock, depending on their participation amount, for an equal number of shares of the same series of a newly issued senior convertible preferred stock ranking senior in payment to the equivalent series of existing convertible preferred stock and pari passu among the other senior convertible preferred stock (the "Share Exchange").

The following table summarizes the aggregate Initial Return due to, and the number of shares of our senior convertible preferred stock acquired pursuant to the Share Exchange by, entities affiliated with certain of our directors and holders of more than 5% of our outstanding capital stock:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Aggregate Initial Return ($)**<sup>(1)</sup>  | **Aggregate Initial Return ($)**<sup>(1)</sup>  | **Shares of senior convertible preferred stock** | **Shares of senior convertible preferred stock** |
| Entities affiliated with Greenoaks | 14097845 | <sup>(2)</sup> | 6388875 | <sup>(3)</sup> |
| Entities affiliates with Insight Partners | 36232572 | <sup>(4)</sup> | 10576923 | <sup>(5)</sup> |
| Entities affiliated with IVP | 18753115 | <sup>(6)</sup> | 18293343 | <sup>(7)</sup> |
| Entity affiliated with Kleiner Perkins | 108000000 | <sup>(8)</sup> | 7692307 | <sup>(9)</sup> |
| Entity affiliated with Scale Venture Partners | 7477157 | <sup>(10)</sup> | 30627869 | <sup>(11)</sup> |

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(1)Each Initial Return is equal to 1.8 times the purchase amount of the applicable 2025 Convertible Security.

(2)Consists of a 2025 Convertible Security having an aggregate purchase amount equal to $7,832,136 held by an entity affiliated with Greenoaks, which beneficially owns more than 5% of our outstanding capital stock.

(3)Entities affiliated with Greenoaks exchanged 6,107,904 shares of our Series D convertible preferred stock, 152,766 shares of our Series E convertible preferred stock, and 128,205 shares of our Series F convertible preferred stock for an equal number of shares of our Series D senior convertible preferred stock, Series E senior convertible preferred stock, and Series F senior convertible preferred stock, respectively.

(4)Consists of 2025 Convertible Securities having an aggregate purchase amount equal to $20,129,207 held by entities affiliated with Insight Partners, which beneficially owns more than 5% of our outstanding capital stock.

(5)Entities affiliated with Insight Partners exchanged 10,576,923 shares of our Series F convertible preferred stock for an equal number of shares of our Series F senior convertible preferred stock.

(6)Consists of 2025 Convertible Securities having an aggregate purchase amount equal to $10,418,397 held by entities affiliated with IVP, which beneficially owns more than 5% of our outstanding capital stock. Somesh Dash, a member of our board of directors, is a general partner of IVP.

(7)Entities affiliated with IVP exchanged 17,284,524 shares of our Series C convertible preferred stock, 814,389 shares of our Series D convertible preferred stock, and 194,430 shares of our Series E convertible preferred stock for an equal number of shares of our Series C senior convertible preferred stock, Series D senior convertible preferred stock, and Series E senior convertible preferred stock, respectively.

(8)Consists of a 2025 Convertible Security having an aggregate purchase amount equal to $60,000,000 held by an entity affiliated with Kleiner Perkins, which beneficially owns more than 5% of our outstanding capital stock. Ilya Fushman, a member of our board of directors, is a partner at Kleiner Perkins.

(9)An entity affiliated with Kleiner Perkins exchanged 7,692,307 shares of our Series F convertible preferred stock for an equal number of shares of our Series F senior convertible preferred stock.

(10)Consists of a 2025 Convertible Security having an aggregate purchase amount equal to $4,153,976 held by an entity affiliated with Scale Venture Partners, which beneficially owns more than 5% of our outstanding capital stock. Alexander Niehenke, a member of our board of directors, is a partner at Scale Venture Partners.

(11)An entity affiliated with Scale Venture Partners exchanged 28,278,174 shares of our Series B convertible preferred stock, 1,586,754 shares of our Series C convertible preferred stock, 407,193 shares of our Series D convertible preferred stock, 291,646 shares of our Series E convertible preferred stock, and 64,102 shares of our Series F convertible preferred stock for an equal number of shares of our Series B senior convertible preferred stock, Series C senior convertible preferred stock, Series D senior convertible preferred stock, Series E senior convertible preferred stock, and Series F senior convertible preferred stock, respectively.

In connection with the issuance of the 2025 Convertible Securities, we amended and restated the terms of the 2019 Convertible Notes. The 2019 Convertible Notes are held by entities affiliated with Greenoaks, which beneficially owns more than 5% of our outstanding capital stock. Beginning on the applicable issue date, each 2019 Convertible Note accrues yield at a rate of 5.5% per annum, compounded semiannually. The purchase amount of the 2019 Convertible Notes, including accrued and unpaid yield, will automatically convert into shares of our Class A common stock in connection with the closing of this offering pursuant to the terms of the 2019 Convertible Notes.

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**Promissory notes**

In March 2021, we entered into a promissory note (the "Makani Promissory Note") and a stock pledge agreement (the "Makani Pledge Agreement") with Shoaib Makani, our co-founder, Chief Executive Officer and a member of our board of directors, in the principal amount of $8,567,975 to facilitate the early exercise of options to purchase shares of our Class A common stock. Interest on any unpaid principal balance under the Makani Promissory Note accrues at the rate of 0.62% per annum, compounded annually. As collateral for the loan, an aggregate of 10,322,862 shares of our Class A common stock held by Mr. Makani were pledged to us pursuant to the Makani Pledge Agreement. Pursuant to the Exchange Agreement, the shares of our Class A common stock pledged under the Makani Pledge Agreement have been exchanged for shares of our Class B common stock.

In December 2018, we entered into a promissory note (the "Khan Promissory Note") and a stock pledge agreement (the "Khan Pledge Agreement") with Obaid Khan, our co-founder and a member of our board of directors, in the principal amount of $1,658,525 to facilitate the early exercise of options to purchase shares of our Class A common stock. Interest on any unpaid principal balance under the Khan Promissory Note accrues at the rate of 3.07% per annum, compounded annually. As collateral for the loan, an aggregate of 789,774 shares of our Class A common stock held by Mr. Khan were pledged to us pursuant to the Khan Pledge Agreement. Pursuant to a stock split implemented in July 2019, the total number of shares pledged to us pursuant to the Khan Pledge Agreement was adjusted to 2,369,322 shares of our Class A common stock. In March 2022, Mr. Khan agreed to pay us accrued and unpaid interest on the Khan Promissory Note in the amount of $173,731, and, in connection therewith, we amended the Khan Promissory Note such that interest on any unpaid principal balance under the Khan Promissory Note accrued at the rate of 0.97% per annum, compounded annually, and the maturity date was accelerated to December 31, 2024. In November 2024, Mr. Khan agreed to pay us accrued and unpaid interest on the Khan Promissory Note in the amount of $43,458.10, and, in connection therewith, we further amended the Khan Promissory Note such that interest on any unpaid principal balance under the Khan Promissory Note accrued at the rate of 3.70% per annum, compounded annually, and the maturity date was extended to March 23, 2028.

In March 2021, we entered into a promissory note (the "Schildkrout Promissory Note") and a stock pledge agreement (the "Schildkrout Pledge Agreement") with Aaron Schildkrout, a member of our board of directors, in the principal amount of $440,710 to facilitate the early exercise of options to purchase shares of our Class A common stock. Interest on any unpaid principal balance under the Schildkrout Promissory Note accrues at the rate of 0.62% per annum, compounded annually. As collateral for the loan, an aggregate of 530,976 shares of our Class A common stock held by Mr. Schildkrout were pledged to us pursuant to the Schildkrout Pledge Agreement.

We expect that the foregoing promissory notes, and all accrued interest thereon, will be repaid in full prior to the first public filing with the SEC of the registration statement of which this prospectus forms a part.

**Equity exchange agreement**

In April 2022, we entered into the Exchange Agreement with Shoaib Makani, our co-founder, Chief Executive Officer and a member of our board of directors, whereby Mr. Makani exchanged 53,280,483 shares of our Class A common stock for an equal number of shares of our Class B common stock. Pursuant to the terms of the Exchange Agreement, if Mr. Makani receives shares of our Class A common stock pursuant to (i) the exercise of stock options exercisable for shares of our Class A common stock held by him as of the date of the Exchange Agreement or (ii) the exercise or settlement of stock options, restricted stock units, and/or other similar equity awards redeemable for shares of our Class A common stock that Mr. Makani is granted in the future, Mr. Makani shall have a right (but not an obligation) to require us to exchange any such shares of our Class A common stock for an equivalent number of shares of Class B common stock. Further, such shares will be automatically exchanged for an equivalent number of shares of our Class B common stock on a date that is 60 days after such exercise or settlement unless Mr. Makani notifies us that he opts out of the exchange. The timing of any such

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exchange is subject to deferral until the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The number of shares subject to any such exchange shall not exceed the number of shares of our Class B common stock authorized in our restated certificate of incorporation as is then in effect. As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, there were &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock subject to outstanding equity awards held by Mr. Makani that may be exchanged, upon the exercise or settlement of such equity awards, for an equivalent number of shares of our Class B common stock.

As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, there were &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock subject to outstanding equity awards held by Mr. Makani that may be exchanged, upon the exercise or settlement of such equity awards, for an equivalent number of shares of our Class B common stock.

**Other transactions**

Obaid Khan, our co-founder and a member of our board of directors, is the brother-in-law of Shoaib Makani, our co-founder, Chief Executive Officer, and a member of our board of directors. Mr. Khan served as our Chief Operating Officer from June 2021 to June 2023. Through March 2022, Mr. Khan's annual base salary was $375,000, which was increased to $400,000 in April 2022 and remained as such through his service in 2023. Mr. Khan also received equity compensation, a bonus payment in 2022, and a severance payment in 2023. For each year, Mr. Khan's compensation was based on reference to external market practice, and Mr. Khan was eligible for equity awards on the same general terms and conditions as applicable to officers who were not related to Mr. Makani. Mr. Khan did not receive any cash compensation as part of his appointment to our board of directors in 2023 following his resignation as an employee.

In July 2023, a trust affiliated with Aaron Schildkrout, a member of our board of directors, purchased an aggregate of 60,000 shares of our Class A common stock from an existing stockholder at a purchase price of $3.50 per share, for an aggregate purchase price of $210,000.

We have granted stock options and RSUs to our executive officers and certain of our directors. See the section titled "Executive compensation—Outstanding equity awards at fiscal 2024 year-end" for a description of these stock options and RSUs.

**Investors' rights agreement**

We are party to an amended and restated investors' rights agreement by and among us and certain holders of our capital stock, dated May 20, 2025 (the "Rights Agreement"), which provides, among other things, that certain holders of our capital stock, including entities affiliated with Google Ventures, Greenoaks, Index Ventures, Insight Partners, IVP, Kleiner Perkins, and Scale Venture Partners, each of which beneficially owns more than 5% of our outstanding capital stock, have the right to demand that we file a registration statement or request that their shares of our capital stock be included on a registration statement that we are otherwise filing. See the section titled "Description of capital stock—Registration rights" for additional information regarding these registration rights.

**Voting agreement**

Pursuant to the Voting Agreement, certain holders of our capital stock have agreed to vote their shares on certain matters, including with respect to the election of members of our board of directors. See the section titled "Management—Board of directors" for additional information regarding the election of members of our board of directors pursuant to the Voting Agreement. Holders of our capital stock, including entities affiliated with Google Ventures, Greenoaks, Index Ventures, Insight Partners, IVP, Kleiner Perkins, and Scale Venture Partners, each of which beneficially owns more than 5% of our outstanding capital stock, as well as Shoaib Makani, our co-founder, Chief Executive Officer and a member of our board of directors, and Obaid Khan, our co-founder and a member of our board of directors, are parties to the Voting Agreement. The Voting Agreement will terminate upon the closing of this offering.

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**Indemnification agreements**

We have entered into, and intend to continue to enter into, separate indemnification agreements with each of our executive officers and directors, including those affiliated with certain of our 5% stockholders. The indemnification agreements and our restated bylaws will require us to indemnify our directors to the fullest extent not prohibited by DGCL. Subject to very limited exceptions, our restated bylaws will also require us to advance expenses incurred by our directors and officers. For more information regarding these agreements, see "Executive compensation—Limitations on liability and indemnification matters."

**Policies and procedures for related party transactions**

Following the closing of this offering, our audit committee will have the primary responsibility for reviewing and approving or disapproving "related party transactions," which are transactions between us and related persons in which the aggregate amount involved exceeds or may be expected to exceed $120,000 and in which a related person has or will have a direct or indirect material interest.

Upon the closing of this offering, our policy regarding transactions between us and related persons will provide that a related person is defined as a director, executive officer, nominee for director or greater than 5% beneficial owner of our securities, in each case since the beginning of the most recently completed year, and any of their immediate family members. Our audit committee charter that will be in effect upon the closing of this offering will provide that our audit committee shall review and approve or disapprove any related party transactions.

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**Principal stockholders**

The following table sets forth certain information with respect to the beneficial ownership of our common stock as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and as adjusted to reflect the sale of our Class A common stock in this offering, assuming no exercise of the underwriters' option to purchase additional shares, for:

• each of our named executive officers;

• each of our directors;

• all of our current directors and executive officers as a group; and

• each person known by us to be the beneficial owner of more than 5% of the outstanding shares of our Class A common stock or Class B common stock.

We have determined beneficial ownership in accordance with the rules of the SEC, and the information is not necessarily indicative of beneficial ownership for any other purpose. Except as indicated by the footnotes below, we believe, based on information furnished to us, that the persons and entities named in the table below have sole voting and sole investment power with respect to all shares of common stock that they beneficially owned, subject to applicable community property laws.

Applicable percentage ownership of our common stock before this offering is based on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class B common stock outstanding as of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025. For purposes of the table below, we have assumed (i) the occurrence of the Capital Stock Conversion, the Security Conversion, the RSU Net Settlement, and the Warrant Exercises, in each case, as if such conversion, settlement or exercises, as applicable, had occurred as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, and (ii) that &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock will be issued in this offering. The exact number of shares of our Class A common stock that will be withheld from a stockholder in connection with the RSU Net Settlement may differ based on a stockholder's personal tax rates. In computing the number of shares of common stock beneficially owned by a person and the percentage ownership of that person, we deemed to be outstanding all shares of common stock subject to options held by that person or entity that are currently exercisable or that will become exercisable within 60 days of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 and RSUs that are expected to vest and settle within 60 days of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 (without giving effect to any expected net settlement). In addition, we have assumed the exchange for shares of our Class B common stock, pursuant to the Exchange Agreement, of all shares of our Class A common stock receivable upon exercise or settlement and exchange of equity awards held by Shoaib Makani, and that are so receivable within 60 days of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025. We did not deem these shares outstanding, however, for the purpose of computing the percentage ownership of any other person. Unless otherwise indicated, the address of

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each beneficial owner in the table below is c/o Motive Technologies, Inc., 1355 Market Street, 11th Floor San Francisco, California 94103.

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Shares beneficially owned before this offering** | **Shares beneficially owned before this offering** | **Shares beneficially owned before this offering** | **Shares beneficially owned before this offering** | **% Total voting power before this offering** | **Shares beneficially owned after this offering** | **Shares beneficially owned after this offering** | **Shares beneficially owned after this offering** | **Shares beneficially owned after this offering** | **% Total voting power after this offering** |
| | **Class A** | **Class A** | **Class B** | **Class B** | **% Total voting power before this offering** | **Class B** | **Class B** | **Class A** | **Class A** | **% Total voting power after this offering** |
| <br><br>**Name of beneficial owner** | **Shares** | **%** | **Shares** | **%** | **% Total voting power before this offering** | **Shares** | **%** | **Shares** | **%** | **% Total voting power after this offering** |
| **Named executive officers and directors:** | | | | | | | | | | |
| Shoaib Makani |  |  |  |  |  |  |  |  |  |  |
| Adam Block |  |  |  |  |  |  |  |  |  |  |
| Shu White |  |  |  |  |  |  |  |  |  |  |
| Somesh Dash |  |  |  |  |  |  |  |  |  |  |
| Dana Evan |  |  |  |  |  |  |  |  |  |  |
| Ilya Fushman |  |  |  |  |  |  |  |  |  |  |
| Obaid Khan |  |  |  |  |  |  |  |  |  |  |
| Alexander Niehenke |  |  |  |  |  |  |  |  |  |  |
| Aaron Schildkrout |  |  |  |  |  |  |  |  |  |  |
| All executive officers and directors as a group (&nbsp;&nbsp;&nbsp;&nbsp; persons) |  |  |  |  |  |  |  |  |  |  |
| **Other 5% or greater stockholders:** |  |  |  |  |  |  |  |  |  |  |
| Google Ventures |  |  |  |  |  |  |  |  |  |  |
| Greenoaks |  |  |  |  |  |  |  |  |  |  |
| Index Ventures |  |  |  |  |  |  |  |  |  |  |
| Insight Partners |  |  |  |  |  |  |  |  |  |  |
| IVP |  |  |  |  |  |  |  |  |  |  |
| Kleiner Perkins |  |  |  |  |  |  |  |  |  |  |
| Scale Venture Partners |  |  |  |  |  |  |  |  |  |  |

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\*Represents beneficial ownership of less than one percent of the shares of our common stock.

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**Description of capital stock**

**General**

The following description summarizes the most important terms of our capital stock, as they will be in effect following this offering. Because it is only a summary, it does not contain all the information that may be important to you. We expect to adopt a restated certificate of incorporation and restated bylaws that will become effective immediately prior to the closing of this offering, and this description summarizes provisions that are expected to be included in these documents. For a complete description, you should refer to our restated certificate of incorporation, restated bylaws, and the Rights Agreement, which are included as exhibits to the registration statement of which this prospectus forms a part, and to the applicable provisions of Delaware law.

Upon the closing of this offering, our authorized capital stock will consist of (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our common stock, $0.0001 par value per share, of which (A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares will be designated as Class A common stock, $0.0001 par value per share, and (B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares will be designated as Class B common stock, $0.0001 par value per share and (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of undesignated preferred stock, $0.0001 par value per share.

Assuming the occurrence of the Capital Stock Conversion, the Security Conversion, the RSU Net Settlement, and the Warrant Exercises as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, there were outstanding:

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock, held by &nbsp;&nbsp;&nbsp;&nbsp; stockholders of record;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class B common stock, held by &nbsp;&nbsp;&nbsp;&nbsp; stockholders of record;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of stock options, with weighted-average exercise prices of $&nbsp;&nbsp;&nbsp;&nbsp; per share;

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the vesting and settlement of RSUs; and

• &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock, of which (i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share and (ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share.

**Class A common stock and Class B common stock**

We have two series of authorized common stock, Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion.

***Dividend rights***

Subject to preferences that may apply to any shares of preferred stock outstanding at the time, the holders of shares of our Class A common stock and Class B common stock are entitled to receive dividends out of funds legally available if our board of directors, in its discretion, determines to issue dividends and then only at the times and in the amounts that our board of directors may determine. See the section titled "Dividend policy" for additional information.

***Voting rights***

Holders of shares of our Class A common stock are entitled to one vote for each share of Class A common stock held on all matters submitted to a vote of stockholders and holders of our Class B common stock are entitled to 20 votes for each share of Class B common stock held on all matters submitted to a vote of stockholders. Following this offering, Shoaib Makani will represent&nbsp;&nbsp;&nbsp;&nbsp; % of the total voting power of our outstanding capital stock. If Mr. Makani exercises in full his right to exchange any shares of our Class A common stock received by him upon the exercise or settlement of equity awards outstanding and

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held by him as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 for an equivalent number of shares of our Class B common stock pursuant to the Exchange Agreement, then, following this offering, Mr. Makani would represent&nbsp;&nbsp;&nbsp;&nbsp; % of the total voting power of our outstanding capital stock.

Holders of shares of our Class A common stock and Class B common stock vote together as a single class on all matters (including the election of directors) submitted to a vote of stockholders, unless otherwise required by Delaware law. Delaware law could require either holders of our Class A common stock or Class B common stock to vote separately as a single class if we were to seek to amend our restated certificate of incorporation in a manner that alters or changes the powers, preferences, or special rights of a series of our capital stock in a manner that affected its holders adversely.

In addition, our restated certificate of incorporation will provide that a separate vote of the holders of our Class B common stock will be required in connection with any amendment to the restated certificate of incorporation that would alter the rights of our Class B common stock, reclassify any shares of our Class A common stock into shares senior to our Class B common stock, or authorize the issuance of any shares of capital stock with voting rights greater than one vote per share (other than our Class B common stock). We have not provided for cumulative voting for the election of directors in our restated certificate of incorporation that will become effective immediately prior to the closing of this offering.

***No preemptive or similar rights***

Our shares of Class A common stock and Class B common stock are not entitled to preemptive rights and are not subject to redemption or sinking fund provisions.

***Right to receive liquidation distributions***

Upon our liquidation, dissolution or winding-up, the assets legally available for distribution to our stockholders would be distributable ratably among the holders of our Class A common stock and Class B common stock and any participating preferred stock outstanding at that time, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights of and the payment of liquidation preferences, if any, on any outstanding shares of preferred stock.

***Conversion***

Each outstanding share of our Class B common stock is convertible at any time at the option of the holder into one share of our Class A common stock. In addition, each share of our Class B common stock converts automatically into one share of our Class A common stock upon any transfer, except for certain permitted transfers described in our restated certificate of incorporation, without the need or any further action by the holder of such shares. Once converted or transferred and converted into shares of our Class A common stock, the Class B common stock may not be reissued.

All outstanding shares of our Class B common stock convert automatically into shares of our Class A common stock upon the earliest to occur (the "Final Conversion Date") of (a) the first trading day following the six month anniversary of the death or incapacity of Mr. Makani; (b) the date fixed by our board of directors that is no less than 61 days and no more than 180 days following the date that the number of shares of our Class B common stock beneficially owned by Mr. Makani and his permitted transferees (as defined in our restated certificate of incorporation) is less than 50% of the number of shares of our Class B common stock beneficially owned by Mr. Makani and his permitted transferees on the date of this prospectus (such number of shares, the "Pre-Listing Ownership"); provided, however, that if a separation event (as defined in our restated certificate of incorporation) occurs with respect to Mr. Makani following the date of this prospectus, no Final Conversion Date shall occur following the separation event until Mr. Makani and his permitted transferees have transferred a number of shares of our Class B common stock equal to the greater of (i) the number that would result in Mr. Makani beneficially owning less than 50% of his Pre-Listing Ownership and (ii) the number determined by multiplying (A) the number of shares of our Class B common stock held by Mr. Makani immediately prior to the applicable separation event (the "Pre-Separation Ownership") by (B) a fraction, (1) the numerator of which is the difference between (x) the Pre-Separation Ownership and (y) 50% of the Pre-Listing Ownership and (2) the denominator of which is the

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Pre-Listing Ownership; (c) the date and/or time specified by the holders of a majority of the then-outstanding shares of our Class B common stock; (d) the date that Mr. Makani no longer provides services to us as either our chief executive officer or a member of our board of directors; (e) the date that Mr. Makani's employment with us is terminated for cause (as defined in our restated certificate of incorporation); and (f) the date on which Mr. Makani founds or is employed as the chief executive officer (or equivalent position) of a competitor.

Following a conversion of our Class B common stock into Class A common stock, each share of our Class A common stock will have one vote per share, and the rights of the holders of all outstanding Class A common stock will be identical. Once converted into shares of our Class A common stock, the Class B common stock may not be reissued.

**Preferred stock**

Pursuant to the provisions of our restated certificate of incorporation, as currently in effect: each currently outstanding share of convertible preferred stock and senior convertible preferred stock will automatically be converted into one share of our Class A common stock in connection with the closing of this offering pursuant to the terms of our restated certificate of incorporation, as currently in effect. Following this offering, no shares of convertible preferred stock or senior convertible preferred stock will be outstanding.

Following this offering, our board of directors will be authorized, subject to limitations prescribed by Delaware law, to issue preferred stock in one or more series, to establish from time to time the number of shares to be included in each series, and to fix the designation, powers, preferences, and rights of the shares of each series and any of its qualifications, limitations, or restrictions, in each case without further vote or action by our stockholders. Our board of directors can also increase or decrease the number of shares of any series of preferred stock, but not below the number of shares of that series then outstanding, without any further vote or action by our stockholders. The number of authorized shares of our preferred stock may be increased or decreased (but not below the number of shares thereof then outstanding) by a vote of the holders of stock entitled to vote thereon, without a separate vote of the holders of the preferred stock, irrespective of the provisions of Section 242(b)(2) of the DGCL, unless a separate vote of the holders of one or more series is required pursuant to the terms of any applicable certificate of designation. Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring, or preventing a change in our control and might adversely affect the market price of our Class A common stock and the voting and other rights of the holders of our common stock. We have no current plan to issue any shares of preferred stock.

**Options**

As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, we had outstanding stock options to purchase an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock under the 2013 Plan, with a weighted-average exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share.

**RSUs**

As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, without giving effect to the RSU Net Settlement, we had outstanding RSUs that may be settled for an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock under the 2013 Plan. After &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 (without giving effect to the RSU Net Settlement), we granted RSUs that may be settled for an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock under the 2013 Plan.

In connection with the RSU Net Settlement, we will issue &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock, after withholding an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock to satisfy our associated estimated tax withholding and remittance obligations. For additional information on the RSU Net Settlement, see the section titled "Use of proceeds."

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**Warrants**

As of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, we had outstanding warrants to purchase &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock, of which (i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share and (ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; had an exercise price of $&nbsp;&nbsp;&nbsp;&nbsp; per share.

**Registration rights**

Following the closing of this offering, certain holders of shares of our common stock or their permitted transferees will be entitled to rights with respect to the registration of their shares under the Securities Act. These rights are provided under the terms of the Rights Agreement, which was entered into in connection with our convertible security financings, and include demand registration rights, Form S-3 registration rights and piggyback registration rights. In any registration made pursuant to the Rights Agreement, all fees, costs and expenses of underwritten registrations will be borne by us and all selling expenses, including estimated underwriting discounts, selling commissions, stock transfer taxes, and fees and disbursements of counsel for any holder will be borne by the holders of the shares being registered, provided, however, that we will pay the reasonable fees and disbursements of one counsel to any selling holders not to exceed $30,000.

The registration rights terminate (i) five years following the closing of this offering, (ii) upon a deemed liquidation event (as defined in our restated certificate of incorporation, as currently in effect), or (iii) with respect to any particular stockholder, upon the closing of this offering, at the time that such stockholder can sell all of its registrable securities (as defined in the Rights Agreement) without any restriction on volume or manner of sale in any three-month period pursuant to Rule 144 of the Securities Act or any successor rule thereto.

***Demand registration rights***

Following the closing of this offering, holders of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock will be entitled to demand registration rights at any time after 180 days after the effective date of the registration statement of which this prospectus forms a part. Under the terms of the Rights Agreement, we will be required, upon the request of holders representing a majority of the then-outstanding shares that are entitled to registration rights under the Rights Agreement, to use commercially reasonable efforts to file a registration statement on Form S-1 to register, as soon as practicable and in any event within 90 days of the date of the request, all or a portion of these shares for public resale, if the anticipated aggregate price to the public of the shares offered is at least $25 million, net of selling expenses. We are required to effect only two registrations pursuant to this provision of the Rights Agreement. We may postpone the filing of a registration statement no more than once during any 12-month period for a period of not more than 90 days if our board of directors determines that the filing would be materially detrimental to us. We are not required to effect a demand registration under certain additional circumstances specified in the Rights Agreement.

***Form S-3 registration rights***

Following the closing of this offering, holders of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock will be entitled to Form S-3 registration rights. Any holder of then-outstanding shares having registration rights can request that we register all or part of their shares on Form S-3 if we are eligible to file a registration statement on Form S-3 and if the anticipated aggregate price to the public of the shares offered is at least $5 million, net of selling expenses. The holders may only require us to effect at most two registration statements on Form S-3 in any 12-month period. We may postpone the filing of a registration statement on Form S-3 no more than once during any 12-month period for a period of not more than 90 days if our board of directors determines that the filing would be materially detrimental to us. We are not required to effect a Form S-3 registration under certain additional circumstances specified in the Rights Agreement.

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***Piggyback registration rights***

If we propose to register any of our common stock in connection with a public offering solely for cash, holders of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock having registration rights will have the right to include their shares in the registration statement. However, this right does not apply to a registration relating to employee benefit plans, a registration relating to an SEC Rule 145 transaction, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of our common stock, or a registration in which the only common stock being registered is common stock issuable upon conversion of debt securities that are also being registered. The underwriters of any underwritten offering will have the right to limit the number of shares registered by these holders if they determine that marketing factors require limitation, in which case the number of shares to be registered will be apportioned pro rata among these holders, according to the total amount of securities entitled to be included by each holder. However, the number of shares to be registered by these holders cannot be reduced (i) unless all other securities (other than securities to be sold by us) are first entirely excluded from the offering or (ii) below 30% of the total shares covered by the registration statement, other than in the initial public offering.

**Anti-takeover provisions**

The provisions of the DGCL and our restated certificate of incorporation and restated bylaws that will become effective immediately prior to the closing of this offering could have the effect of delaying, deferring, or discouraging another person from acquiring control of our company. These provisions, which are summarized below, are expected to discourage certain types of coercive takeover practices and inadequate takeover bids and encourage persons seeking to acquire control of our company to first negotiate with our board of directors. We believe that the benefits of increased protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging a proposal to acquire us because negotiation of these proposals could result in an improvement of their terms.

***Delaware law***

We are subject to the provisions of Section 203 of the DGCL regulating corporate takeovers. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a "business combination" with an "interested stockholder" for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. Under Section 203, a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions:

• before the stockholder became interested, our board of directors approved either the business combination or the transaction, which resulted in the stockholder becoming an interested stockholder;

• upon consummation of the transaction, which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, shares owned by persons who are directors and also officers, and employee stock plans in some instances, but not the outstanding voting stock owned by the interested stockholder; or

• at or after the time the stockholder became interested, the business combination was approved by our board of directors and authorized at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock, which is not owned by the interested stockholder.

Section 203 defines a business combination to include:

• any merger or consolidation involving the corporation and the interested stockholder;

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• any sale, transfer, lease, pledge, or other disposition involving the interested stockholder of 10% or more of the assets of the corporation;

• subject to exceptions, any transaction that results in the issuance of transfer by the corporation of any stock of the corporation to the interested stockholder;

• subject to exceptions, any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; and

• the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges, or other financial benefits provided by or through the corporation.

In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by the entity or person.

***Restated certificate of incorporation and restated bylaw provisions***

Our restated certificate of incorporation and our restated bylaws that will become effective immediately prior to the closing of this offering will include a number of provisions that may have the effect of deterring hostile takeovers, or delaying or preventing changes in control of our management team or changes in our board of directors or our governance or policy, including the following:

• *Dual class common stock*. As described above in the section titled "—Class A common stock and Class B common stock—Voting rights," our restated certificate of incorporation will provide for a dual class common stock structure pursuant to which holders of our Class B common stock will have the ability to control the outcome of matters submitted to our stockholders for approval, even if they own significantly less than a majority of the shares of our outstanding common stock, including the election of directors and significant corporate transactions, such as a merger or other sale of our company or its assets or a redomestication. As a result, Mr. Makani will have the ability to exercise control over those matters.

• *Classified board*. Our restated certificate of incorporation and our restated bylaws will provide that our board of directors is classified into three classes of directors. The existence of a classified board of directors could delay a successful tender offeror from obtaining majority control of our board of directors, and the prospect of that delay might deter a potential offeror. For additional information, see the section titled "Management—Classified board of directors."

• *Directors removed only for cause*. Our restated certificate of incorporation will provide that stockholders may remove directors only "for cause" and only by the affirmative vote of the holders of at least two-thirds of the voting power of the then-outstanding shares of our capital stock.

• *Supermajority requirements for amendments of our restated certificate of incorporation and restated bylaws*. Our restated certificate of incorporation will further provide that the affirmative vote of holders of at least two-thirds of the voting power of all of the then outstanding shares of capital stock will be required to amend certain provisions of our restated certificate of incorporation, including provisions relating to the classified board, the size of our board of directors, removal of directors, special meetings, actions by written consent and designation of our preferred stock. The affirmative vote of holders of at least two-thirds of the voting power of all of the then outstanding shares of capital stock

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will be required to amend or repeal our restated bylaws, although our restated bylaws may be adopted, amended, or repealed by a simple majority vote of our board of directors. Additionally, in the case of any proposed adoption, amendment, or repeal of any provisions of the restated bylaws that is approved by our board of directors and submitted to the stockholders for adoption, if two-thirds of our board of directors elects to submit such adoption, amendment, or repeal of any provisions of our restated bylaws to our stockholders for adoption, then only the affirmative vote of a majority of the voting power of all of the then outstanding shares of capital stock shall be required to adopt, amend, or repeal any provision of our restated bylaws.

• *Stockholder action; special meetings of stockholders*. Our restated certificate of incorporation will provide that our stockholders may not take action by written consent, but may only take action at annual or special meetings of our stockholders. As a result, holders of our capital stock would not be able to amend our restated bylaws or remove directors without holding a meeting of our stockholders called in accordance with our restated bylaws. Our restated certificate of incorporation and our restated bylaws will provide that special meetings of our stockholders may be called only by a majority of our board of directors, the chairperson of our board of directors, our chief executive officer, or our lead independent director, thus prohibiting a stockholder from calling a special meeting. These provisions might delay the ability of our stockholders to force consideration of a proposal or for stockholders to take any action, including the removal of directors.

• *Advance notice requirements for stockholder proposals and director nominations*. Our restated bylaws will provide advance notice procedures for stockholders seeking to bring business before our annual meeting of stockholders or to nominate candidates for election as directors at our annual meeting of stockholders. Our restated bylaws also will specify certain requirements regarding the form and content of a stockholder's notice. These provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors at our annual meeting of stockholders. We expect that these provisions might also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer's own slate of directors or otherwise attempting to obtain control of our company.

• *No cumulative voting*. The DGCL provides that stockholders are not entitled to the right to cumulate votes in the election of directors unless a corporation's certificate of incorporation provides otherwise. Our restated certificate of incorporation and restated bylaws will not provide for cumulative voting.

• *Issuance of undesignated preferred stock*. We anticipate that after the filing of our restated certificate of incorporation, our board of directors will have the authority, without further action by the stockholders, to issue up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by our board of directors. The existence of authorized but unissued shares of preferred stock enables our board of directors to render more difficult or to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise.

• *Choice of forum*. In addition, our restated bylaws will provide that, to the fullest extent permitted by law, the Court of Chancery of the State of Delaware will be the exclusive forum for any derivative action or proceeding brought on our behalf; any action asserting a breach of fiduciary duty; any action asserting a claim against us arising pursuant to the DGCL, our restated certificate of incorporation or our restated bylaws; any action asserting a claim against us that is governed by the internal affairs doctrine or asserting an internal corporate claim, as defined in the DGCL; or any action to interpret, apply, enforce, or determine the validity of our restated certificate of incorporation or restated bylaws. The enforceability of similar choice of forum provisions in other companies' organizational documents has been challenged in legal proceedings, and it is possible that a court could find these types of provisions to be inapplicable or unenforceable. Our restated bylaws will also contain a Federal Forum Provision. While there can be no assurance that federal or state courts will follow the holding of the Supreme Court of the State of Delaware which recently found that such provisions are facially valid under Delaware law or determine that the Federal Forum Provision should be enforced in a particular

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**Transfer agent and registrar**

Upon the closing of this offering, the transfer agent and registrar for our Class A common stock and Class B common stock will be &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . The transfer agent's address is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .

**Exchange listing**

We intend to apply to list our Class A common stock on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the under the symbol "FOMO," and this offering is contingent upon obtaining approval of such listing.

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**Shares eligible for future sale**

Before this offering, there has been no public market for our Class A common stock, and we cannot predict the effect, if any, that market sales of shares of our Class A common stock or the availability of shares of our Class A common stock for sale will have on the market price of our Class A common stock prevailing from time to time.

Nevertheless, sales of substantial amounts of our Class A common stock, including shares issued upon exercise of outstanding stock options or settlement of RSUs, in the public market following this offering, or the possibility of these sales or issuances occurring, could adversely affect market prices prevailing from time to time and could impair our ability to raise equity capital.

Upon the closing of this offering, based on&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our capital stock outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025, after giving effect to (i) the filing and effectiveness of our restated certificate of incorporation, which will occur immediately prior to the closing of this offering, (ii) the Capital Stock Conversion, (iii) the Security Conversion, (iv) the RSU Net Settlement, and (v) the Warrant Exercises, we will have a total of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock outstanding and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class B common stock outstanding. Of these outstanding shares, all of the shares of our Class A common stock sold in this offering will be freely tradable, except that any shares purchased in this offering by our affiliates, as that term is defined in Rule 144 under the Securities Act, only would be able to be sold in compliance with the Rule 144 limitations described below.

The remaining outstanding shares of our Class A common stock and Class B common stock will be deemed "restricted securities" as defined in Rule 144. Restricted securities may be sold in the public market only if they are registered under the Securities Act or if they qualify for an exemption from registration under Rule 144 or Rule 701 promulgated under the Securities Act, which rules are summarized below.

As a result of the lock-up and market standoff agreements described herein and the provisions of the Rights Agreement described in the section titled "Description of capital stock—Registration rights," and subject to the provisions of Rule 144 or Rule 701, shares of our common stock will be available for sale in the public market as follows:

• beginning on the date of this prospectus, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock sold in this offering will be immediately available for sale in the public market; and

• beginning &nbsp;&nbsp;&nbsp;&nbsp; days after the date of this prospectus, subject to extension as described in the section titled "Underwriting" below, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares will become eligible for sale in the public market, of which&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares will be held by affiliates and subject to the volume and other restrictions of Rule 144, as described below.

**Lock-up and market standoff agreements**

All of our directors, executive officers, and certain other holders that together represent approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of our outstanding Class A common stock and securities directly or indirectly convertible into or exchangeable or exercisable for our Class A common stock, have agreed, subject to certain exceptions, not to sell or transfer any common stock or securities convertible into, exchangeable for, exercisable for, or repayable with common stock, for &nbsp;&nbsp;&nbsp;&nbsp; days after the date of this prospectus without first obtaining the prior written consent of J.P. Morgan Securities LLC on behalf of the underwriters. Upon the expiration of the lock-up period, substantially all of the shares subject to such lock-up restrictions will become eligible for sale, subject to the limitations discussed above. For a further description of these lock-up agreements, please see the section titled "Underwriting."

We anticipate that we will net-settle the IPO Vesting RSUs in the RSU Net Settlement. For RSUs that will vest after the effectiveness of the registration statement of which this prospectus forms a part and prior to the expiration of the lock-up period, we anticipate that we will continue to net-settle the shares underlying

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these RSUs. However, we will continue to have discretion to sell-to-cover rather than net-settle shares underlying these RSUs to satisfy the associated tax withholding and remittance obligations. The lock-up agreements and market standoff agreements may permit sell-to-cover transactions to cover tax withholding and remittance obligations related to the vesting and/or settlement of RSUs and stock options during the lock-up period. If we decide to sell-to-cover rather than net-settle shares underlying these RSUs and stock options, up to approximately &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock underlying RSUs and stock options outstanding as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025 under the 2013 Plan will be eligible for sale in the open market during the lock-up period in connection with such sell-to-cover transactions.

The remaining holders of our outstanding Class A common stock and securities directly or indirectly convertible into or exchangeable or exercisable for our Class A common stock, have not entered into lock-up agreements with the underwriters and, therefore, are not subject to the restrictions described above. These holders are subject to market standoff agreements with us that restrict their ability to transfer shares of our Class A outstanding common stock and securities directly or indirectly convertible into or exchangeable or exercisable for our Class A common stock, and we will not waive any of the restrictions of such market standoff agreements with respect to our employees prior to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .

**Rule 144**

In general, under Rule 144 as currently in effect, once we have been subject to public company reporting requirements of Section 13 or Section 15(d) of the Exchange Act for at least 90 days, a person who is not deemed to have been one of our affiliates for purposes of the Securities Act at any time during the 90 days preceding a sale and who has beneficially owned the shares proposed to be sold for at least six months, including the holding period of any prior owner other than our affiliates, is entitled to sell those shares without complying with the manner of sale, volume limitation or notice provisions of Rule 144, subject to compliance with the public information requirements of Rule 144. If such a person has beneficially owned the shares proposed to be sold for at least one year, including the holding period of any prior owner other than our affiliates, then that person would be entitled to sell those shares without complying with any of the requirements of Rule 144.

In general, under Rule 144, as currently in effect, our affiliates or persons selling shares on behalf of our affiliates are entitled to sell upon expiration of the lock-up and market standoff agreements described above, within any three-month period, a number of shares that does not exceed the greater of:

• 1% of the number of shares of our Class A common stock then outstanding, which will equal approximately &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares immediately after this offering; or

• the average weekly trading volume of our Class A common stock during the four calendar weeks preceding the filing of a notice on Form 144 with respect to that sale.

Sales under Rule 144 by our affiliates or persons selling shares on behalf of our affiliates are also subject to certain manner of sale provisions and notice requirements and to the availability of current public information about us.

**Rule 701**

Rule 701 generally allows a stockholder who purchased shares of our capital stock pursuant to a written compensatory plan or contract and who is not deemed to have been our affiliate during the immediately preceding 90 days to sell these shares in reliance upon Rule 144, but without being required to comply with the public information, holding period, volume limitation or notice provisions of Rule 144. Rule 701 also permits affiliates of our company to sell their Rule 701 shares under Rule 144 without complying with the holding period requirements of Rule 144. All holders of Rule 701 shares, however, are required by that rule to wait until 90 days after the date of this prospectus before selling those shares pursuant to Rule 701, subject to the expiration of the lock-up and market standoff agreements described herein.

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**Equity awards**

As soon as practicable after the closing of this offering, we intend to file one or more registration statements on Form S-8 under the Securities Act covering all of the shares of our Class A common stock subject to outstanding options and RSUs and the shares of our Class A common stock reserved for issuance under our equity incentive plans. We expect to file this registration statement as soon as permitted under the Securities Act. However, the shares registered on Form S-8 may be subject to the volume limitations and the manner of sale, notice and public information requirements of Rule 144 and will not be eligible for resale until expiration of the lock-up and market standoff agreements to which they are subject.

**Registration rights**

We have granted demand, piggyback, and Form S-3 registration rights to certain of our stockholders to sell our Class A common stock. Registration of the sale of these shares under the Securities Act would result in these shares becoming freely tradable without restriction under the Securities Act immediately upon the effectiveness of the registration, except for shares purchased by affiliates. For a further description of these rights, see the section titled "Description of capital stock—Registration rights."

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**Material U.S. federal income tax consequences for non-U.S. holders of our Class A common stock**

The following summary describes the material U.S. federal income tax consequences of the acquisition, ownership and disposition of our Class A common stock acquired in this offering by Non-U.S. Holders (as defined below). This discussion does not address all aspects of U.S. federal income taxes, does not discuss the potential application of any alternative minimum tax, the Medicare contribution tax on net investment income, or the special tax accounting rules under Section 451(b) of the Code, and does not deal with any state or local taxes, U.S. federal gift or estate tax laws (except to the limited extent provided below), or any non-U.S. tax consequences that may be relevant to Non-U.S. Holders in light of their particular circumstances.

Special rules different from those described below may apply to certain Non-U.S. Holders that are subject to special treatment under the Code, such as:

• insurance companies, banks, and other financial institutions;

• tax-exempt organizations (including private foundations) and tax-qualified retirement plans;

• "qualified foreign pension funds" as defined in Section 897(l)(2) of the Code and entities all of the interests of which are held by qualified foreign pension funds;

• non-U.S. governments and international organizations;

• dealers and traders in securities;

• U.S. expatriates and certain former citizens or long-term residents of the United States;

• persons that own, or are deemed to own, more than 5% of our Class A common stock;

• "controlled foreign corporations," "passive foreign investment companies," and corporations that accumulate earnings to avoid U.S. federal income tax;

• persons that hold our Class A common stock as part of a "straddle," "hedge," "conversion transaction," "synthetic security," or integrated investment or other risk reduction strategy;

• persons who do not hold our Class A common stock as a capital asset within the meaning of Section 1221 of the Code (generally, for investment purposes); and

• partnerships and other pass-through entities and arrangements, and investors in such pass-through entities and arrangements (regardless of their places of organization or formation).

Such Non-U.S. Holders are urged to consult their tax advisors to determine the U.S. federal, state, local, and other tax consequences that may be relevant to them of the acquisition, ownership and disposition of our Class A common stock.

Furthermore, the discussion below is based upon the provisions of the Code, Treasury Regulations promulgated thereunder, judicial decisions thereunder, and rulings and administrative pronouncements of the Internal Revenue Service (the "IRS") all as of the date hereof, and such authorities may be repealed, revoked, or modified, possibly retroactively, and are subject to differing interpretations which could result in U.S. federal income tax consequences different from those discussed below. We have not requested a ruling from the IRS with respect to the statements made and the conclusions reached in the following summary, and there can be no assurance that the IRS will not take a contrary position regarding the tax consequences described herein or that any such contrary position would not be sustained by a court.

PERSONS CONSIDERING THE PURCHASE OF OUR CLASS A COMMON STOCK PURSUANT TO THIS OFFERING SHOULD CONSULT THEIR TAX ADVISORS CONCERNING THE U.S. FEDERAL

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INCOME TAX CONSEQUENCES OF ACQUIRING, OWNING, AND DISPOSING OF OUR CLASS A COMMON STOCK IN LIGHT OF THEIR PARTICULAR SITUATIONS AS WELL AS ANY TAX CONSEQUENCES ARISING UNDER THE LAWS OF ANY OTHER TAXING JURISDICTION, INCLUDING ANY STATE, LOCAL, OR NON-U.S. TAX CONSEQUENCES OR ANY U.S. FEDERAL NON-INCOME TAX CONSEQUENCES, AND THE POSSIBLE APPLICATION OF TAX TREATIES.

For purposes of this discussion, a Non-U.S. Holder is a beneficial owner of our Class A common stock that is not a U.S. Holder or a partnership (or other pass-through entity or arrangement treated as a partnership) for U.S. federal income tax purposes. A U.S. Holder means a beneficial owner of our Class A common stock that is, for U.S. federal income tax purposes, (i) an individual who is a citizen or resident of the United States, (ii) a corporation (or other entity taxable as a corporation for U.S. federal income tax purposes), created or organized in or under the laws of the United States, any state thereof, or the District of Columbia, (iii) an estate the income of which is subject to U.S. federal income taxation regardless of its source, or (iv) a trust if it (A) is subject to the primary supervision of a court within the United States and one or more U.S. persons (within the meaning of Section 7701(a)(30) of the Code) have the authority to control all substantial decisions of the trust or (B) has a valid election in effect under applicable U.S. Treasury Regulations to be treated as a U.S. person.

If you are an individual non-U.S. citizen, you may be deemed to be a resident alien (as opposed to a nonresident alien) by virtue of being present in the United States for at least 31 days in the calendar year and for an aggregate of at least 183 days during a three-year period ending in the current calendar year. Generally, for this purpose, all the days present in the current year, one-third of the days present in the immediately preceding year, and one-sixth of the days present in the second preceding year are counted. Resident aliens are generally subject to U.S. federal income tax as if they were U.S. citizens. Individuals who are uncertain of their status as resident or nonresident aliens for U.S. federal income tax purposes are urged to consult their tax advisors regarding the U.S. federal income tax consequences of the acquisition, ownership and disposition of our Class A common stock.

**Distributions**

We do not have current plans to pay any dividends on our capital stock in the foreseeable future (see the section titled "Dividend policy" for additional information). If we do make distributions on our Class A common stock, however, such distributions made to a Non-U.S. Holder will constitute dividends for U.S. tax purposes to the extent paid out of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles). Distributions in excess of our current and accumulated earnings and profits will constitute a return of capital that is applied against and reduces, but not below zero, a Non-U.S. Holder's adjusted tax basis in our Class A common stock. Any remaining excess will be treated as gain realized on the sale or exchange of our Class A common stock as described below under the section titled "—Gain on disposition of our Class A common stock."

Any distribution on our Class A common stock that is treated as a dividend paid to a Non-U.S. Holder that is not effectively connected with the holder's conduct of a trade or business in the United States will generally be subject to withholding tax at a 30% rate or such lower rate as may be specified by an applicable income tax treaty. To obtain a reduced rate of withholding tax under an applicable income tax treaty, a Non-U.S. Holder generally will be required to provide the applicable withholding agent with a properly executed IRS Form W-8BEN, IRS Form W-8BEN-E, or other appropriate form, certifying the Non-U.S. Holder's entitlement to benefits under that income tax treaty. Such form must be provided prior to the payment of dividends and must be updated periodically. If a Non-U.S. Holder holds stock through a financial institution or other agent acting on the holder's behalf, the holder will be required to provide appropriate documentation to such agent. The holder's agent will then be required to provide certification to the applicable withholding agent, either directly or through other intermediaries. A Non-U.S. Holder that does not timely furnish the required documentation, but that qualifies for a reduced treaty rate, may obtain a refund of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS. If you are eligible for a reduced rate of U.S. withholding tax under an income tax treaty, you should consult

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with your tax advisor to determine if you are able to obtain a refund or credit of any excess amounts withheld by timely filing an appropriate claim for a refund with the IRS.

We generally are not required to withhold tax on dividends paid to a Non-U.S. Holder that are effectively connected with the holder's conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, are attributable to a permanent establishment that the holder maintains in the United States) if a properly executed IRS Form W-8ECI, stating that the dividends are so connected, is furnished to the applicable withholding agent. In general, such effectively connected dividends will be subject to U.S. federal income tax on a net income basis at the regular rates applicable to U.S. persons. A corporate Non-U.S. Holder receiving effectively connected dividends may also be subject to an additional "branch profits tax," which is imposed, under certain circumstances, at a rate of 30% (or such lower rate as may be specified by an applicable income tax treaty) on the corporate Non-U.S. Holder's effectively connected earnings and profits, subject to certain adjustments. Non-U.S. Holders should consult their tax advisors regarding any applicable tax treaties that may provide for different rules.

See also the sections titled "—Backup withholding and information reporting" and "—Foreign accounts" for additional withholding rules that may apply to dividends, including dividends paid to certain foreign financial institutions or non-financial foreign entities.

**Gain on disposition of our Class A common stock**

Subject to the discussions below under the sections titled "—Backup withholding and information reporting" and "—Foreign accounts," a Non-U.S. Holder generally will not be subject to U.S. federal income or withholding tax with respect to gain realized on a sale or other disposition of our Class A common stock unless (i) the gain is effectively connected with a trade or business of the Non-U.S. Holder in the United States (and, if required by an applicable income tax treaty, is attributable to a permanent establishment that the Non-U.S. Holder maintains in the United States), (ii) the Non-U.S. Holder is a nonresident alien individual and is present in the United States for 183 or more days in the taxable year of the disposition and certain other conditions are met, or (iii) we are or have been a "U.S. real property holding corporation" within the meaning of Section 897(c)(2) of the Code at any time within the shorter of the five-year period preceding such disposition or the Non-U.S. Holder's holding period in our Class A common stock.

If you are a Non-U.S. Holder, gain described in (i) above will be subject to tax on the net gain derived from the sale at the regular U.S. federal income tax rates applicable to U.S. persons. If you are a corporate Non-U.S. Holder, gain described in (i) above may also be subject to the additional branch profits tax at a 30% rate or such lower rate as may be specified by an applicable income tax treaty. If you are an individual Non-U.S. Holder described in (ii) above, you will be required to pay a flat 30% income tax on the gain derived from the sale, which gain may be offset by certain U.S. source capital losses (even though you are not considered a resident of the United States), provided you have timely filed U.S. federal income tax returns with respect to such losses. With respect to (iii) above, in general, we would be a U.S. real property holding corporation if United States real property interests (as defined in the Code and the Treasury Regulations) comprised (by fair market value) at least half of our worldwide real property and our other assets which are used or held for use in a trade or business. We believe that we are not, and do not anticipate becoming, a U.S. real property holding corporation. However, there can be no assurance that we will not become a U.S. real property holding corporation in the future. Even if we are treated as a U.S. real property holding corporation, gain realized by a Non-U.S. Holder on a disposition of our Class A common stock will not be subject to U.S. federal income tax so long as (i) the Non-U.S. Holder owned, directly, indirectly, and constructively, no more than five percent of our Class A common stock at all times within the shorter of (A) the five-year period preceding the disposition or (B) the Non-U.S. Holder's holding period and (ii) our Class A common stock is regularly traded on an established securities market for purposes of the relevant rules. There can be no assurance that our Class A common stock will qualify as regularly traded on an established securities market for this purpose.

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**U.S. federal estate tax**

The estates of nonresident alien individuals generally are subject to U.S. federal estate tax on property with a U.S. situs. Because we are a U.S. corporation, our Class A common stock will be U.S. situs property and, therefore, will be included in the taxable estate of a nonresident alien decedent, unless an applicable estate tax treaty between the United States and the decedent's country of residence provides otherwise. The terms "resident" and "nonresident" are defined differently for U.S. federal estate tax purposes than for U.S. federal income tax purposes. Investors are urged to consult their tax advisors regarding the U.S. federal estate tax consequences of the acquisition, ownership, or disposition of our Class A common stock.

**Backup withholding and information reporting**

Generally, we or an applicable withholding agent must report information to the IRS with respect to any distributions we pay on our Class A common stock (whether or not the distribution constitutes a dividend), including the amount of any such distributions, the name and address of the recipient, and the amount, if any, of tax withheld. A similar report is sent to the holder to whom any such distributions are paid. Pursuant to tax treaties or certain other agreements, the IRS may make its reports available to tax authorities in the recipient's country of residence.

Dividends paid by us (or our paying agents) to a Non-U.S. Holder may also be subject to U.S. backup withholding. U.S. backup withholding generally will not apply to a Non-U.S. Holder who provides a properly executed IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, or otherwise establishes an exemption, provided that the applicable withholding agent does not have actual knowledge or reason to know the holder is a U.S. person.

Under current U.S. federal income tax law, U.S. information reporting and backup withholding requirements generally will apply to the proceeds of a disposition of our Class A common stock effected by or through a U.S. office of any broker, U.S. or non-U.S., unless the Non-U.S. Holder provides a properly executed IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, or otherwise meets documentary evidence requirements for establishing non-U.S. person status or otherwise establishes an exemption. Generally, U.S. information reporting and backup withholding requirements will not apply to a payment of disposition proceeds to a Non-U.S. Holder where the transaction is effected outside the United States through a non-U.S. office of a non-U.S. broker. Information reporting and backup withholding requirements may, however, apply to a payment of disposition proceeds if the broker has actual knowledge, or reason to know, that the holder is, in fact, a U.S. person. For information reporting purposes only, certain brokers with substantial U.S. ownership or operations will generally be treated in a manner similar to U.S. brokers.

Backup withholding is not an additional tax. If backup withholding is applied to you, you should consult with your tax advisor to determine whether you are able to obtain a tax refund or credit of the overpaid amount.

**Foreign accounts**

In addition, U.S. federal withholding taxes may apply under the Foreign Account Tax Compliance Act ("FATCA") on certain types of payments, including dividends on our Class A common stock, made to non-U.S. financial institutions and certain other non-U.S. entities. Specifically, a 30% withholding tax may be imposed on dividends on our Class A common stock paid to a "foreign financial institution" or a "non-financial foreign entity" (each as defined in the Code), unless (i) the foreign financial institution agrees to undertake certain diligence and reporting obligations, (ii) the non-financial foreign entity either certifies it does not have any "substantial United States owners" (as defined in the Code) or furnishes identifying information regarding each substantial United States owner, or (iii) the foreign financial institution or non-financial foreign entity otherwise qualifies for an exemption from these rules. The 30% federal withholding tax described in this paragraph is not generally subject to reduction under income tax treaties with the United States. If the payee is a foreign financial institution and is subject to the diligence and reporting

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requirements in (i) above, it must enter into an agreement with the U.S. Department of the Treasury requiring, among other things, that it undertake to identify accounts held by certain "specified United States persons" or "United States-owned foreign entities" (each as defined in the Code), annually report certain information about such accounts, and withhold 30% tax on certain payments to non-compliant foreign financial institutions and certain other account holders. Foreign financial institutions located in jurisdictions that have an intergovernmental agreement with the United States governing FATCA may be subject to different rules. While under the applicable Treasury Regulations and administrative guidance, withholding taxes under FATCA generally also would have applied to payments of gross proceeds from the sale or other disposition of our Class A common stock, proposed Treasury Regulations eliminate FATCA withholding on payments of gross proceeds entirely. The preamble to the proposed regulations specifies that taxpayers are permitted to rely on such proposed regulations pending finalization.

Prospective investors should consult their tax advisors regarding the potential application of withholding taxes under FATCA to their investment in our Class A common stock.

EACH PROSPECTIVE INVESTOR SHOULD CONSULT ITS TAX ADVISOR REGARDING THE TAX CONSEQUENCES OF ACQUIRING, OWNING, AND DISPOSING OF OUR CLASS A COMMON STOCK, INCLUDING THE CONSEQUENCES OF ANY PROPOSED CHANGE IN APPLICABLE LAW, AS WELL AS TAX CONSEQUENCES ARISING UNDER ANY STATE, LOCAL, NON-U.S. OR U.S. FEDERAL NON-INCOME TAX LAWS SUCH AS ESTATE AND GIFT TAX, AND THE POSSIBLE APPLICATION OF TAX TREATIES.

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**Underwriting**

We are offering the shares of our Class A common stock described in this prospectus through a number of underwriters. J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Barclays Capital Inc., and Jefferies LLC are acting as joint book-running managers of this offering and as representatives of the underwriters. We have entered into an underwriting agreement with the underwriters. Subject to the terms and conditions of the underwriting agreement, we have agreed to sell to the underwriters, and each underwriter has severally agreed to purchase, at the public offering price less the underwriting discounts and commissions set forth on the cover page of this prospectus, the number of shares of our Class A common stock listed next to its name in the following table:

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| | |
|:---|:---|
| **Name** | **Number of shares** |
| J.P. Morgan Securities LLC |  |
| Citigroup Global Markets Inc. |  |
| Barclays Capital Inc. |  |
| Jefferies LLC |  |
| &nbsp;&nbsp;&nbsp;Total |  |

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The underwriters are committed to purchase all the shares of our Class A common stock if they purchase any shares. The underwriting agreement also provides that if an underwriter defaults, the purchase commitments of non-defaulting underwriters may also be increased or the offering may be terminated.

The underwriters propose to offer our Class A common stock directly to the public at the initial public offering price set forth on the cover page of this prospectus and to certain dealers at that price less a concession not in excess of $&nbsp;&nbsp;&nbsp;&nbsp; per share. After the initial offering of shares of our Class A common stock to the public, if all of such shares are not sold at the initial public offering price, the underwriters may change the offering price and the other selling terms. Sales of any shares made outside of the United States may be made by affiliates of the underwriters.

The underwriters have an option to buy up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares of our Class A common stock to cover sales of shares by the underwriters that exceed the number of shares specified in the table above. The underwriters have 30 days from the date of this prospectus to exercise this option to purchase additional shares. If any additional shares are purchased with this option, the underwriters will purchase shares in approximately the same proportion as shown in the table above, and the underwriters will offer the additional shares on the same terms as those on which the shares are being offered.

The underwriting fee is equal to the public offering price per share of our Class A common stock less the amount paid by the underwriters to us per share of our Class A common stock. The underwriting fee is $&nbsp;&nbsp;&nbsp;&nbsp; per share. The following table shows the per share and total underwriting discounts and commissions to be paid to the underwriters assuming both no exercise and full exercise of the underwriters' option to purchase additional shares from us:

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| | | |
|:---|:---|:---|
| | **Without option to purchase additional shares exercise** | **With full option to purchase additional shares exercise** |
| Per share | $ | $ |
| Total | $ | $ |

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We estimate that the total expenses of this offering, including registration, filing and listing fees, printing fees and legal and accounting expenses, but excluding the underwriting discounts and commissions, will

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be approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; . We have also agreed to reimburse the underwriters for expenses relating to the clearance of this offering with the Financial Industry Regulatory Authority, Inc., in an amount up to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .

A prospectus in electronic format may be made available on the websites maintained by one or more underwriters, or selling group members, if any, participating in the offering. The underwriters may agree to allocate a number of shares to underwriters and selling group members for sale to their online brokerage account holders. Internet distributions will be allocated by the representatives to underwriters and selling group members that may make Internet distributions on the same basis as other allocations.

We have agreed that we will not, subject to certain exceptions, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, hedge, lend, or otherwise transfer or dispose of, directly or indirectly, or submit to, or file with, the SEC a registration statement under the Securities Act relating to, any shares of our Class A common stock or any securities convertible into or exercisable or exchangeable for any shares of our Class A common stock, or (ii) enter into any swap, hedging, or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of any shares of our Class A common stock or any such other securities, or publicly disclose the intention to undertake any of the foregoing (regardless of whether any of these transactions are to be settled by the delivery of shares of our Class A common stock or such other securities, in cash or otherwise), in each case without the prior written consent of J.P. Morgan Securities LLC for a period of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; after the date of this prospectus, other than the shares of our Class A common stock to be sold in this offering.

The restrictions on our actions, as described above, do not apply to certain transactions, including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .

Our directors and executive officers and certain other holders that together represent approximately &nbsp;&nbsp;&nbsp;&nbsp; % of our outstanding Class A common stock and securities directly or indirectly convertible into or exchangeable or exercisable for our Class A common stock (such persons, the "lock-up parties") have entered into lock-up agreements with the underwriters prior to the commencement of this offering pursuant to which each lock-up party, with limited exceptions, for a period of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; after the date of this prospectus (such period, the "restricted period"), may not and may not cause any of their direct or indirect affiliates to, without the prior written consent of J.P. Morgan Securities LLC, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of our Class A common stock or any securities convertible into or exercisable or exchangeable for our Class A common stock (including without limitation, our Class A common stock or such other securities which may be deemed to be beneficially owned by the lock-up party in accordance with the rules and regulations of the SEC and securities which may be issued upon exercise of a stock option or warrant) (collectively with our Class A common stock, the "lock-up securities"), (ii) enter into any hedging, swap, or other agreement or transaction that transfers, in whole or in part, any of the economic consequences of ownership of the lock-up securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of the lock-up securities, in cash or otherwise, (iii) make any demand for or exercise any right with respect to the registration of any the lock-up securities, or (iv) publicly disclose the intention to do any of the foregoing.

Such persons or entities have further acknowledged that these undertakings preclude them from engaging in any hedging or other transactions or arrangements (including, without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof, forward, swap, or any other derivative transaction or instrument, however described or defined) designed or intended, or which could reasonably be expected to lead to or result in, a sale or disposition or transfer (whether by the lock-up party or any other person) of any economic consequences of ownership, in whole or in part, directly or indirectly, of any lock-up securities, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of lock-up securities, in cash or otherwise. Such persons or entities further confirm that they have furnished the representatives with the details of any transaction such persons or entities, or any of their respective affiliates, is a party to as of

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the date hereof, which transaction would have been restricted by the lock-up agreements if it had been entered into by such persons or entities during the restricted period.

The restrictions described in the immediately preceding paragraph and contained in the lock-up agreements between the underwriters and the lock-up parties do not apply, subject in certain cases to various conditions, to certain transactions, including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .

J.P. Morgan Securities LLC, in its sole discretion, may release the securities subject to any of the lock-up agreements with the underwriters described above, in whole or in part at any time.

Furthermore, an additional approximately &nbsp;&nbsp;&nbsp;&nbsp; % of the shares of our outstanding Class A common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our Class A common stock are subject to market standoff provisions, pursuant to which such holders agreed to not lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right, or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of our Class A common stock or any securities convertible into or exercisable or exchangeable for our Class A common stock held immediately prior to the effectiveness of the registration statement of which this prospectus forms a part, or enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such shares of our Class A common stock during the lock-up period. The forms and specific restrictive provisions within these market standoff provisions vary among security holders. For example, although some of these market standoff agreements do not specifically restrict hedging transactions and others may be subject to different interpretations between us and security holders as to whether they restrict hedging, our insider trading policy prohibits hedging by all of our current directors, officers, employees, contractors, and consultants. Sales, short sales, or hedging transactions involving our equity securities, whether before or after this offering and whether or not we believe them to be prohibited, could adversely affect the price of our Class A common stock.

As a result of the foregoing, substantially all of the shares of our outstanding Class A common stock and securities directly or indirectly convertible into or exchangeable or exercisable for shares of our Class A common stock are subject to a lock-up agreement or market standoff provisions during the restricted period. We have agreed to enforce all such market standoff restrictions on behalf of the underwriters and not to amend or waive any such market standoff provisions during the restricted period without the prior consent of J.P. Morgan Securities LLC, on behalf of the underwriters, provided that we may release shares from such restrictions to the extent such shares would be entitled to release under the form of lock-up agreement with the underwriters entered into by our directors and executive officers, and certain other holders of our securities as described herein.

We have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act.

We intend to apply to list our Class A common stock on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; under the symbol "FOMO," and this offering is contingent upon obtaining approval of such listing.

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The underwriters may close out any covered short position either by exercising their option to purchase additional shares, in whole or in part, or by purchasing shares in the open market. In making this determination, the underwriters will consider, among other things, the price of shares available for purchase in the open market compared to the price at which the underwriters may purchase shares through the option to purchase additional shares. A naked short position is more likely to be created if the underwriters are concerned that there may be downward pressure on the price of our Class A common stock in the open market that could adversely affect investors who purchase shares in this offering. To the extent that the underwriters create a naked short position, they will purchase shares in the open market to cover the position.

The underwriters have advised us that, pursuant to Regulation M of the Securities Act, they may also engage in other activities that stabilize, maintain or otherwise affect the price of our Class A common stock, including the imposition of penalty bids. This means that if the representatives of the underwriters purchase shares of our Class A common stock in the open market in stabilizing transactions or to cover short sales, the representatives can require the underwriters that sold those shares as part of this offering to repay the underwriting discount received by them.

These activities may have the effect of raising or maintaining the market price of our Class A common stock or preventing or retarding a decline in the market price of our Class A common stock, and, as a result, the price of our Class A common stock may be higher than the price that otherwise might exist in the open market. If the underwriters commence these activities, they may discontinue them at any time. The underwriters may carry out these transactions on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , in the over-the-counter market or otherwise.

Prior to this offering, there has been no public market for our Class A common stock. The initial public offering price will be determined by negotiations between us and the representatives of the underwriters. In determining the initial public offering price, we and the representatives of the underwriters expect to consider a number of factors including:

• the information set forth in this prospectus and otherwise available to the representatives;

• our prospects and the history and prospects for the industry in which we compete;

• an assessment of our management;

• our prospects for future earnings;

• the general condition of the securities markets at the time of this offering;

• the recent market prices of, and demand for, publicly traded Class A common stock of generally comparable companies; and

• other factors deemed relevant by the underwriters and us.

Neither we nor the underwriters can assure investors that an active trading market will develop for shares of our Class A common stock, or that the shares will trade in the public market at or above the initial public offering price.

**Other relationships**

Certain of the underwriters and their affiliates have provided in the past to us and our affiliates and may provide from time to time in the future certain commercial banking, financial advisory, investment banking and other services for us and our affiliates in the ordinary course of their business, for which they have received and may continue to receive customary fees and commissions. In addition, from time to time, certain of the underwriters and their affiliates may effect transactions for their own account or the account of customers, and hold on behalf of themselves or their customers, long or short positions in our debt or equity securities or loans, and may do so in the future.

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**Selling restrictions**

Other than in the United States, no action has been taken by us or the underwriters that would permit a public offering of the securities offered by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will result in compliance with the applicable rules and regulations of that jurisdiction. Persons who come into possession of this prospectus are advised to inform themselves about and to observe any restrictions relating to the offering and the distribution of this prospectus. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus in any jurisdiction in which such an offer or a solicitation is unlawful.

***Notice to prospective investors in the European Economic Area***

In relation to each Member State of the European Economic Area (each a "Relevant State"), no shares have been offered or will be offered pursuant to the offering to the public in that Relevant State prior to the publication of a prospectus in relation to the shares which has been approved by the competent authority in that Relevant State or, where appropriate, approved in another Relevant State and notified to the competent authority in that Relevant State, all in accordance with the Prospectus Regulation, except that offers of shares may be made to the public in that Relevant State at any time under the following exemptions under the Prospectus Regulation:

(a)to any legal entity which is a qualified investor as defined under Article 2 of the Prospectus Regulation;

(b)to fewer than 150 natural or legal persons (other than qualified investors as defined under Article 2 of the Prospectus Regulation), subject to obtaining the prior consent of the underwriters; or

(c)in any other circumstances falling within Article 1(4) of the Prospectus Regulation,

provided that no such offer of shares shall require us or any underwriter to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation. and each person who initially acquires any shares or to whom any offer is made will be deemed to have represented, acknowledged and agreed to and with each of the underwriters and to us that it is a "qualified investor" within the meaning of Article 2(e) of the Prospectus Regulation. In the case of any shares being offered to a financial intermediary as that term is used in the Prospectus Regulation, each such financial intermediary will be deemed to have represented, acknowledged and agreed that the shares acquired by it in the offer have not been acquired on a non-discretionary basis on behalf of, nor have they been acquired with a view to their offer or resale to, persons in circumstances which may give rise to an offer of any shares to the public other than their offer or resale in a Relevant State to qualified investors as so defined or in circumstances in which the prior consent of the underwriters have been obtained to each such proposed offer or resale.

For the purposes of this provision, the expression an "offer to the public" in relation to shares in any Relevant State means the communication in any form and by any means of sufficient information on the terms of the offer and any shares to be offered so as to enable an investor to decide to purchase or subscribe for any shares, and the expression "Prospectus Regulation" means Regulation (EU) 2017/1129.

***Notice to prospective investors in the United Kingdom***

No shares have been offered or will be offered pursuant to the offering to the public in the United Kingdom prior to the publication of a prospectus in relation to the shares which (i) has been approved by the Financial Conduct Authority or (ii) is to be treated as if it had been approved by the Financial Conduct Authority in accordance with the transitional provisions in Article 74 (transitional provisions) of the

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Prospectus Amendment etc (EU Exit) Regulations 2019/1234, except that the shares may be offered to the public in the United Kingdom at any time:

(a)to any legal entity which is a qualified investor as defined under Article 2 of the UK Prospectus Regulation;

(b)to fewer than 150 natural or legal persons (other than qualified investors as defined under Article 2 of the UK Prospectus Regulation), subject to obtaining the prior consent of underwriters for any such offer; or

(c)in any other circumstances falling within Section 86 of the FSMA.

provided that no such offer of the shares shall require the Issuer or any Manager to publish a prospectus pursuant to Section 85 of the FSMA or supplement a prospectus pursuant to Article 23 of the UK Prospectus Regulation. For the purposes of this provision, the expression an "offer to the public" in relation to the shares in the United Kingdom means the communication in any form and by any means of sufficient information on the terms of the offer and any shares to be offered so as to enable an investor to decide to purchase or subscribe for any shares and the expression "UK Prospectus Regulation" means Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

In addition, in the United Kingdom, this document is being distributed only to, and is directed only at, and any offer subsequently made may only be directed at persons who are "qualified investors" (as defined in the Prospectus Regulation) (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") and/or (ii) who are high net worth companies (or persons to whom it may otherwise be lawfully communicated) falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons") or otherwise in circumstances which have not resulted and will not result in an offer to the public of the shares in the United Kingdom within the meaning of the Financial Services and Markets Act 2000.

Any person in the United Kingdom that is not a relevant person should not act or rely on the information included in this document or use it as basis for taking any action. In the United Kingdom, any investment or investment activity that this document relates to may be made or taken exclusively by relevant persons.

***Notice to prospective investors in Canada***

The shares may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the shares must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor.

Pursuant to section 3A.3 of National Instrument 33-105 Underwriting Conflicts (NI 33-105), the underwriters are not required to comply with the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this offering.

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***Notice to prospective investors in Switzerland***

This prospectus does not constitute an offer to the public or a solicitation to purchase or invest in any shares. No shares have been offered or will be offered to the public in Switzerland, except that offers of shares may be made to the public in Switzerland at any time under the following exemptions under the Swiss Financial Services Act ("FinSA"):

(a)to any person which is a professional client as defined under the FinSA;

(b)to fewer than 500 persons (other than professional clients as defined under the FinSA), subject to obtaining the prior consent of the representatives of the underwriters for any such offer; or

(c)in any other circumstances falling within Article 36 FinSA in connection with Article 44 of the Swiss Financial Services Ordinance,

provided that no such offer of shares shall require us or any investment bank to publish a prospectus pursuant to Article 35 FinSA.

The shares have not been and will not be listed or admitted to trading on a trading venue in Switzerland.

Neither this document nor any other offering or marketing material relating to the shares constitutes a prospectus as such term is understood pursuant to the FinSA and neither this document nor any other offering or marketing material relating to the shares may be publicly distributed or otherwise made publicly available in Switzerland.

***Notice to prospective investors in the Dubai International Financial Centre***

This document relates to an Exempt Offer in accordance with the Markets Law, DIFC Law No. 1 of 2012, as amended. This document is intended for distribution only to persons of a type specified in the Markets Law, DIFC Law No. 1 of 2012, as amended. It must not be delivered to, or relied on by, any other person. The Dubai Financial Services Authority (DFSA) has no responsibility for reviewing or verifying any documents in connection with Exempt Offers. The DFSA has not approved this prospectus supplement nor taken steps to verify the information set forth herein and has no responsibility for this document. The securities to which this document relates may be illiquid and/or subject to restrictions on their resale. Prospective purchasers of the securities offered should conduct their own due diligence on the securities. If you do not understand the contents of this document, you should consult an authorized financial advisor.

In relation to its use in the DIFC, this document is strictly private and confidential and is being distributed to a limited number of investors and must not be provided to any person other than the original recipient and may not be reproduced or used for any other purpose. The interests in the securities may not be offered or sold directly or indirectly to the public in the DIFC.

***Notice to prospective investors in the United Arab Emirates***

The shares have not been, and are not being, publicly offered, sold, promoted or advertised in the United Arab Emirates (including the Dubai International Financial Centre) other than in compliance with the laws of the United Arab Emirates (and the Dubai International Financial Centre) governing the issue, offering and sale of securities. Further, this prospectus does not constitute a public offer of securities in the United Arab Emirates (including the Dubai International Financial Centre) and is not intended to be a public offer. This prospectus has not been approved by or filed with the Central Bank of the United Arab Emirates, the Securities and Commodities Authority, Financial Services Regulatory Authority (FSRA) or the Dubai Financial Services Authority (DFSA).

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***Notice to prospective investors in Australia***

This prospectus:

• does not constitute a disclosure document or a prospectus under Chapter 6D.2 of the Corporations Act 2001 (Cth) (the "Corporations Act");

• has not been, and will not be, lodged with the Australian Securities and Investments Commission ("ASIC"), as a disclosure document for the purposes of the Corporations Act and does not purport to include the information required of a disclosure document for the purposes of the Corporations Act; and

• may only be provided in Australia to select investors who are able to demonstrate that they fall within one or more of the categories of investors, available under section 708 of the Corporations Act ("Exempt Investors").

The shares may not be directly or indirectly offered for subscription or purchased or sold, and no invitations to subscribe for or buy the shares may be issued, and no draft or definitive offering memorandum, advertisement or other offering material relating to any shares may be distributed in Australia, except where disclosure to investors is not required under Chapter 6D of the Corporations Act or is otherwise in compliance with all applicable Australian laws and regulations. By submitting an application for the shares, you represent and warrant to us that you are an Exempt Investor.

As any offer of shares of our Class A common stock under this prospectus will be made without disclosure in Australia under Chapter 6D.2 of the Corporations Act, the offer of those securities for resale in Australia within 12 months may, under section 707 of the Corporations Act, require disclosure to investors under Chapter 6D.2 if none of the exemptions in section 708 applies to that resale. By applying for the shares of our Class A common stock you undertake to us that you will not, for a period of 12 months from the date of issue of the shares, offer, transfer, assign or otherwise alienate those shares of our Class A common stock to investors in Australia except in circumstances where disclosure to investors is not required under Chapter 6D.2 of the Corporations Act or where a compliant disclosure document is prepared and lodged with ASIC.

***Notice to prospective investors in Japan***

The shares have not been and will not be registered pursuant to Article 4, Paragraph 1 of the Financial Instruments and Exchange Act. Accordingly, none of the shares nor any interest therein may be offered or sold, directly or indirectly, in Japan or to, or for the benefit of, any "resident" of Japan (which term as used herein means any person resident in Japan, including any corporation or other entity organized under the laws of Japan), or to others for re-offering or resale, directly or indirectly, in Japan or to or for the benefit of a resident of Japan, except pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the Financial Instruments and Exchange Act and any other applicable laws, regulations and ministerial guidelines of Japan in effect at the relevant time.

***Notice to prospective investors in Hong Kong***

The shares have not been offered or sold and will not be offered or sold in Hong Kong, by means of any document, other than (a) to "professional investors" as defined in the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) (the "SFO") of Hong Kong and any rules made thereunder; or (b) in other circumstances which do not result in the document being a "prospectus" (as defined in the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong) (the "CO") or which do not constitute an offer to the public within the meaning of the CO. No advertisement, invitation or document relating to the shares has been or may be issued or has been or may be in the possession of any person for the purposes of issue, whether in Hong Kong or elsewhere, which is directed at, or the contents of which are likely to be accessed or read by, the public of Hong Kong (except if permitted to do so under the securities laws of Hong Kong) other than with respect to shares which are or are intended to

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be disposed of only to persons outside Hong Kong or only to "professional investors" as defined in the SFO and any rules made thereunder.

***Notice to prospective investors in Singapore***

This prospectus has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, no shares have been or will be offered or sold and no shares have been or will be made the subject of an invitation for subscription or purchase and will not offer or sell any shares or cause the shares to be made the subject of an invitation for subscription or purchase, and no prospectus or any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the shares, has been or will be circulated or distributed, whether directly or indirectly, to any person in Singapore other than (i) to an institutional investor (as defined in Section 4A of the Securities and Futures Act 2001 of Singapore, as modified or amended from time to time (the "SFA")) pursuant to Section 274 of the SFA; (ii) to a relevant person (as defined in Section 275(2) of the SFA) pursuant to Section 275(1) of the SFA, or any person pursuant to Section 275(1A) of the SFA, and in accordance with the conditions specified in Section 275 of the SFA; or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.

Where the shares are subscribed or purchased under Section 275 of the SFA by a relevant person which is:

(i)a corporation (which is not an accredited investor (as defined in Section 4A of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor; or

(ii)a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an accredited investor,

securities or securities-based derivatives contracts (each term as defined in Section 2(1) of the SFA) of that corporation or the beneficiaries' rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the shares pursuant to an offer made under Section 275 of the SFA except:

(i)to an institutional investor or to a relevant person, or to any person arising from an offer referred to in Section 275(1A) or Section 276(4)(c)(ii) of the SFA;

(ii)where no consideration is or will be given for the transfer;

(iii)where the transfer is by operation of law;

(iv)as specified in Section 276(7) of the SFA; or

(v)as specified in Regulation 37A of the Securities and Futures (Offers of Investments) (Securities and Securities-based Derivatives Contracts) Regulations 2018.

*Singapore SFA Product Classification* — In connection with Section 309B of the SFA and the CMP Regulations 2018, unless otherwise specified before an offer of shares of our Class A common stock, we have determined, and hereby notify all relevant persons (as defined in Section 309A(1) of the SFA), that the shares of Class A common stock are "prescribed capital markets products" (as defined in the CMP Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

***Notice to prospective investors in Bermuda***

Shares may be offered or sold in Bermuda only in compliance with the provisions of the Investment Business Act of 2003 of Bermuda which regulates the sale of securities in Bermuda. Additionally, non-

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Bermudian persons (including companies) may not carry on or engage in any trade or business in Bermuda unless such persons are permitted to do so under applicable Bermuda legislation.

***Notice to prospective investors in Saudi Arabia***

This document may not be distributed in the Kingdom of Saudi Arabia except to such persons as are permitted under the Rules on the Offer of Securities and Continuing Obligations Regulations as issued by the board of the Saudi Arabian Capital Market Authority ("CMA") pursuant to resolution number 3-123-2017 dated 27 December 2017, as amended. The CMA does not make any representation as to the accuracy or completeness of this document and expressly disclaims any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this document. Prospective purchasers of the securities offered hereby should conduct their own due diligence on the accuracy of the information relating to the securities. If you do not understand the contents of this document, you should consult an authorised financial adviser.

***Notice to prospective investors in the British Virgin Islands***

The shares are not being, and may not be offered to, the public or to any person in the British Virgin Islands for purchase or subscription by or on behalf of us. The shares may be offered to companies incorporated under the BVI Business Companies Act, 2004 (British Virgin Islands), ("BVI Companies"), but only where the offer will be made to, and received by, the relevant BVI Company entirely outside of the British Virgin Islands.

***Notice to prospective investors in China***

This prospectus will not be circulated or distributed in the PRC and the shares will not be offered or sold, and will not be offered or sold to any person for re-offering or resale directly or indirectly to any residents of the PRC (for such purposes, not including the Hong Kong and Macau Special Administrative Regions or Taiwan), except pursuant to any applicable laws and regulations of the PRC. Neither this prospectus nor any advertisement or other offering material may be distributed or published in the PRC, except under circumstances that will result in compliance with applicable laws and regulations.

***Notice to prospective investors in Korea***

The shares have not been and will not be registered under the Financial Investments Services and Capital Markets Act of Korea and the decrees and regulations thereunder (the "FSCMA"), and the shares have been and will be offered in Korea as a private placement under the FSCMA. None of the shares may be offered, sold or delivered directly or indirectly, or offered or sold to any person for re-offering or resale, directly or indirectly, in Korea or to any resident of Korea except pursuant to the applicable laws and regulations of Korea, including the FSCMA and the Foreign Exchange Transaction Law of Korea and the decrees and regulations thereunder (the "FETL"). Furthermore, the purchaser of the shares shall comply with all applicable regulatory requirements (including, but not limited to, requirements under the FETL) in connection with the purchase of the shares. By the purchase of the shares, the relevant holder thereof will be deemed to represent and warrant that if it is in Korea or is a resident of Korea, it purchased the shares pursuant to the applicable laws and regulations of Korea.

***Notice to prospective investors in Malaysia***

No prospectus or other offering material or document in connection with the offer and sale of the shares has been or will be registered with the Securities Commission of Malaysia ("Commission") for the Commission's approval pursuant to the Capital Markets and Services Act 2007. Accordingly, this prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the shares may not be circulated or distributed, nor may the shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Malaysia other than (i) a closed end fund approved by the Commission; (ii) a holder of a Capital Markets Services Licence; (iii) a person who acquires the shares, as principal, if the offer is on terms that the shares may only be acquired at a consideration of not less than RM250,000 (or

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its equivalent in foreign currencies) for each transaction; (iv) an individual whose total net personal assets or total net joint assets with his or her spouse exceeds RM3 million (or its equivalent in foreign currencies), excluding the value of the primary residence of the individual; (v) an individual who has a gross annual income exceeding RM300,000 (or its equivalent in foreign currencies) per annum in the preceding twelve months; (vi) an individual who, jointly with his or her spouse, has a gross annual income of RM400,000 (or its equivalent in foreign currencies), per annum in the preceding twelve months; (vii) a corporation with total net assets exceeding RM10 million (or its equivalent in a foreign currencies) based on the last audited accounts; (viii) a partnership with total net assets exceeding RM10 million (or its equivalent in foreign currencies); (ix) a bank licensee or insurance licensee as defined in the Labuan Financial Services and Securities Act 2010; (x) an Islamic bank licensee or takaful licensee as defined in the Labuan Financial Services and Securities Act 2010; and (xi) any other person as may be specified by the Commission; provided that, in the each of the preceding categories (i) to (xi), the distribution of the shares is made by a holder of a Capital Markets Services License who carries on the business of dealing in securities. The distribution in Malaysia of this prospectus is subject to Malaysian laws. This prospectus does not constitute and may not be used for the purpose of public offering or an issue, offer for subscription or purchase, invitation to subscribe for or purchase any securities requiring the registration of a prospectus with the Commission under the Capital Markets and Services Act 2007.

***Notice to prospective investors in Taiwan***

The shares have not been and will not be registered with the Financial Supervisory Commission of Taiwan pursuant to relevant securities laws and regulations and may not be sold, issued or offered within Taiwan through a public offering or in circumstances which constitutes an offer within the meaning of the Securities and Exchange Act of Taiwan that requires a registration or approval of the Financial Supervisory Commission of Taiwan. No person or entity in Taiwan has been authorised to offer, sell, give advice regarding, or otherwise intermediate the offering and sale of the shares in Taiwan.

***Notice to prospective investors in South Africa***

Due to restrictions under the securities laws of South Africa, no "offer to the public" (as such term is defined in the South African Companies Act, No. 71 of 2008 (as amended or re-enacted) (the "South African Companies Act")) is being made in connection with the issue of the shares in South Africa. Accordingly, this document does not, nor is it intended to, constitute a "registered prospectus" (as that term is defined in the South African Companies Act) prepared and registered under the South African Companies Act and has not been approved by, and/or filed with, the South African Companies and Intellectual Property Commission or any other regulatory authority in South Africa. The shares are not offered, and the offer shall not be transferred, sold, renounced, or delivered, in South Africa or to a person with an address in South Africa, unless one or other of the following exemptions stipulated in section 96 (1) applies:

Section 96 (1) (a): the offer, transfer, sale, renunciation or delivery is to:

(i)persons whose ordinary business, or part of whose ordinary business, is to deal in securities, as principal or agent;

(ii)the South African Public Investment Corporation;

(iii)persons or entities regulated by the Reserve Bank of South Africa;

(iv)authorised financial service providers under South African law;

(v)financial institutions recognised as such under South African law;

(vi)a wholly-owned subsidiary of any person or entity contemplated in (c), (d) or (e), acting as agent in the capacity of an authorised portfolio manager for a pension fund, or as manager for a collective investment scheme (in each case duly registered as such under South African law); or

(vii)any combination of the person in (i) to (vi); or

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Section 96 (1) (b): the total contemplated acquisition cost of the securities, for any single addressee acting as principal is equal to or greater than ZAR1,000,000 or such higher amount as may be promulgated by notice in the Government Gazette of South Africa pursuant to section 96(2)(a) of the South African Companies Act.

Information made available in this prospectus should not be considered as "*advice*" as defined in the South African Financial Advisory and Intermediary Services Act, 2002.

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**Legal matters**

Fenwick & West LLP, San Francisco, California, which has acted as our counsel in connection with this offering, will pass upon the validity of the issuance of the shares of our Class A common stock offered by this prospectus. Cooley LLP, San Francisco, California, is acting as counsel to the underwriters.

**Experts**

The financial statements of Motive Technologies, Inc. as of December 31, 2024 and December 31, 2023, and for each of the two years in the period ended December 31, 2024, included in this Prospectus, have been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report. Such financial statements are included in reliance upon the report of such firm given their authority as experts in accounting and auditing.

**Where you can find additional information**

We have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to the shares of our Class A common stock offered hereby. This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in the registration statement or the exhibits filed therewith. For further information about us and our Class A common stock offered hereby, reference is made to the registration statement and the exhibits filed therewith. Statements contained in this prospectus regarding the contents of any contract or any other document that is filed as an exhibit to the registration statement are not necessarily complete, and in each instance, we refer you to the copy of such contract or other document filed as an exhibit to the registration statement. We currently do not file periodic reports with the SEC.

Upon the closing of this offering, we will be required to file periodic reports, proxy statements and other information with the SEC pursuant to the Exchange Act. The SEC maintains a website that contains reports, proxy and information statements, and other information regarding registrants that file electronically with the SEC. The address of the website is www.sec.gov.

We also maintain a website at www.gomotive.com. Upon the closing of this offering, you may access these materials at our website free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained in, or that can be accessed through, our website is not a part of, and is not incorporated into, this prospectus.

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**Index to consolidated financial statements**

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| | |
|:---|:---|
| | **Page** |
| <u>[Report of independent registered public accounting firm](#i55023a5380214b8183c713f6ac927c62_85)</u> | <u>[F-](#i55023a5380214b8183c713f6ac927c62_85)[2](#i55023a5380214b8183c713f6ac927c62_85)</u> |
| <u>[Consolidated balance sheets](#i55023a5380214b8183c713f6ac927c62_88)</u> | <u>[F-](#i55023a5380214b8183c713f6ac927c62_88)[3](#i55023a5380214b8183c713f6ac927c62_88)</u> |
| <u>[Consolidated statements of operations](#i55023a5380214b8183c713f6ac927c62_91)</u> | <u>[F-](#i55023a5380214b8183c713f6ac927c62_91)[4](#i55023a5380214b8183c713f6ac927c62_91)</u> |
| <u>[Consolidated statements of convertible preferred stock and stockholders' deficit](#i55023a5380214b8183c713f6ac927c62_94)</u> | <u>[F-](#i55023a5380214b8183c713f6ac927c62_94)[5](#i55023a5380214b8183c713f6ac927c62_94)</u> |
| <u>[Consolidated statements of cash flows](#i55023a5380214b8183c713f6ac927c62_97)</u> | <u>[F-](#i55023a5380214b8183c713f6ac927c62_97)[6](#i55023a5380214b8183c713f6ac927c62_97)</u> |
| <u>[Notes to consolidated financial statements](#i55023a5380214b8183c713f6ac927c62_100)</u> | <u>[F-](#i55023a5380214b8183c713f6ac927c62_100)[7](#i55023a5380214b8183c713f6ac927c62_100)</u> |

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**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the stockholders and the Board of Directors of Motive Technologies, Inc.

**Opinion on the Financial Statements**

We have audited the accompanying consolidated balance sheets of Motive Technologies, Inc. and subsidiaries (the "Company") as of December 31, 2023 and 2024, the related consolidated statements of operations, convertible preferred stock and stockholders' deficit, and cash flows, for each of the years then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2024, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ DELOITTE & TOUCHE LLP

San Francisco, California

September 2, 2025

We have served as the Company's auditor since 2021.

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**MOTIVE TECHNOLOGIES, INC.**

**CONSOLIDATED BALANCE SHEETS**

**(in thousands, except share and per share data)**

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2023** | **2024** |
| **Assets** |  |  |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $78810 | $48047 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 26737 | 42329 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory | 32945 | 26103 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 17978 | 19932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 156470 | 136411 |
| Property and equipment, net | 14385 | 12963 |
| Operating lease right-of-use assets | 7811 | 5202 |
| Deferred device costs | 185653 | 222094 |
| Deferred commissions | 55023 | 67738 |
| Other assets | 6795 | 5917 |
| Total assets | $426137 | $450325 |
| **Liabilities, convertible preferred stock, and stockholders' deficit** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | $41577 | $85930 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue, current | 104787 | 134552 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities, current | 8225 | 4969 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 9097 | 7555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 163686 | 233006 |
| Deferred revenue, net of current portion | 62054 | 107603 |
| Operating lease liabilities, net of current portion | 6069 | 2256 |
| Convertible notes | 118533 | 130470 |
| Derivative liability | 922 | 1184 |
| Long-term debt, net | 198182 | 244055 |
| Other liabilities | 12544 | 19069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 561990 | 737643 |
| Commitments and contingencies (Note 6) |  |  |
| Convertible preferred stock, $0.0001 par value, 205,738,464 shares authorized as of December 31, 2023 and 2024; 186,080,967 shares issued and outstanding as of December 31, 2023 and 2024 (liquidation preference of $428,867 as of December 31, 2023 and 2024) | 428135 | 428135 |
| Stockholders' deficit |  |  |
| Common stock, $0.0001 par value, 460,819,324 (391,310,256 Class A, 69,509,068 Class B) shares authorized as of December 31, 2023 and 2024; 88,279,030 (45,321,409 Class A, 42,957,621 Class B) and 88,967,185 (46,009,564 Class A, 42,957,621 Class B) shares issued and outstanding as of December 31, 2023 and 2024, respectively | 10 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 46742 | 48770 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (610740) | (764233) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' deficit | (563988) | (715453) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities, convertible preferred stock, and stockholders' deficit | $426137 | $450325 |

---

See accompanying notes to consolidated financial statements.

------

**MOTIVE TECHNOLOGIES, INC.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

**(in thousands, except share and per share data)**

---

| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
| | **2023** | **2024** |
| Revenue | $310309 | $370450 |
| Cost of revenue | 91161 | 111901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 219148 | 258549 |
| Operating expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 139609 | 180083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 94369 | 98716 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 62951 | 87456 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal settlement | 1800 | 4201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease impairment and abandonment | 7433 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring | 2188 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 308350 | 370456 |
| Loss from operations | (89202) | (111907) |
| Other expense, net | (18963) | (40326) |
| Loss before income taxes | (108165) | (152233) |
| Provision for income taxes | (602) | (752) |
| Net loss | $(108767) | $(152985) |
| Basic and diluted net loss per share: |  |  |
| Net loss per share attributable to common stockholders, basic and diluted | $(1.24) | $(1.73) |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 87652608 | 88525717 |

---

See accompanying notes to consolidated financial statements.

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**MOTIVE TECHNOLOGIES, INC.**

**CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT**

**(in thousands, except share amounts)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Convertible preferred stock** | **Convertible preferred stock** | **Common stock** | **Common stock** | **Additional paid-in capital** | **Accumulated deficit** | **Total stockholders' deficit** |
| | **Shares** | **Amount** | **Shares** | **Amount** | **Additional paid-in capital** | **Accumulated deficit** | **Total stockholders' deficit** |
| Balance at January 1, 2023 | 186080967 | $428135 | 87098402 | $10 | $43036 | $(501308) | $(458262) |
| Stock-based compensation |  |  |  |  | 2771 |  | 2771 |
| Exercise of stock options |  |  | 1387378 |  | 935 |  | 935 |
| Repurchase of common stock |  |  | (206750) |  |  | (665) | (665) |
| Net loss |  |  |  |  |  | (108767) | (108767) |
| Balance as of December 31, 2023 | 186080967 | $428135 | 88279030 | $10 | $46742 | $(610740) | $(563988) |
| Stock-based compensation |  |  |  |  | 1204 |  | 1204 |
| Exercise of stock options |  |  | 862842 |  | 716 |  | 716 |
| Repurchase of common stock |  |  | (174687) |  |  | (508) | (508) |
| Settlement and refinance of promissory notes |  |  |  |  | 108 |  | 108 |
| Net loss |  |  |  |  |  | (152985) | (152985) |
| Balance as of December 31, 2024 | 186080967 | $428135 | 88967185 | $10 | $48770 | $(764233) | $(715453) |

---

See accompanying notes to consolidated financial statements.

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**MOTIVE TECHNOLOGIES, INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
| | **2023** | **2024** |
| **Operating activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(108767) | $(152985) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 6508 | 6069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 3378 | 4353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation, net of amounts capitalized | 2724 | 1180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash operating lease costs | 6145 | 4067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease impairment and abandonment expense | 7433 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of derivative liability | (11992) | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt discount | 5130 | 5463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash interest expense | 6948 | 7362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | (10088) | (19945) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | (11477) | 6842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 3498 | (1170) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred device costs | (36429) | (36441) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred commissions | (9000) | (12715) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | 14398 | 44151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 28290 | 75314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 4568 | 913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | (8439) | (8527) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows used in operating activities | (107172) | (75807) |
| **Investing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase of property and equipment | (2747) | (4327) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows used in investing activities | (2747) | (4327) |
| **Financing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from debt issuance, net of discount and issuance costs |  | 49055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise of stock options | 935 | 716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase of common stock | (665) | (508) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Settlement and refinance of promissory notes |  | 108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows provided by financing activities | 270 | 49371 |
| Net decrease in cash, cash equivalents, and restricted cash | (109649) | (30763) |
| Cash, cash equivalents, and restricted cash beginning of period | 191961 | 82312 |
| Cash, cash equivalents, and restricted cash end of period | $82312 | $51549 |
| Supplemental disclosures of non-cash investing and financing activities: |  |  |
| Right-of-use assets obtained in exchange for operating lease liabilities | $1246 | $1458 |
| Property and equipment accrued but not yet paid | $47 | $202 |
| Warrants issued in relation to debt modification | $— | $4070 |
| Stock-based compensation expense included in property & equipment | $47 | $24 |
| Supplemental disclosures of cash flow information: |  |  |
| Cash paid for income taxes, net | $392 | $1155 |
| Cash paid for interest | $23059 | $28345 |

---

See accompanying notes to consolidated financial statements.

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**MOTIVE TECHNOLOGIES, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**1.&nbsp;&nbsp;&nbsp;&nbsp;Description of business**

Motive Technologies, Inc. (including its subsidiaries, the "Company" or "Motive") is a Delaware corporation formed in 2013. Motive's Integrated Operations Platform enables organizations that power the physical economy to connect and automate their operations end to end by managing their workers, vehicles, equipment, and spend in one system.

The Company is headquartered in San Francisco, California, and the majority of its employees are located in the United States and Pakistan. The Company also has offices in Canada, Mexico, the United Kingdom, India and Taiwan.

**2.&nbsp;&nbsp;&nbsp;&nbsp;Summary of significant accounting policies**

***Basis of presentation and principles of consolidation***

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") and reflect the consolidated results of operations, financial position, and cash flows of the Company and its wholly owned subsidiaries, after eliminating all inter-company transactions and balances.

***Use of estimates***

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Such management estimates include, but are not limited to, revenue recognition; amortization periods of deferred device costs; amortization period of deferred commission; allowance for credit losses; the fair value of stock-based awards, including the underlying fair value of the common stock; the fair value of the derivative liability; the fair value of the warrant liability; and accounting for income taxes. Management evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from those estimates.

***Cash, cash equivalents, and restricted cash***

The Company considers all highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. Cash equivalents primarily consist of amounts held in interest-bearing demand deposit and money market accounts that are readily convertible to cash. The Company has not recorded any losses in such accounts and believes it is not exposed to any significant credit risks. The fair value of cash and cash equivalents approximates their carrying value. The Company also holds restricted cash due to outstanding letters of credit for its leased office space.

Total cash, cash equivalents, and restricted cash consist of the following:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Cash and cash equivalents | $78810 | $48047 |
| Restricted cash | 3502 | 3502 |
| Total cash, cash equivalents, and restricted cash | $82312 | $51549 |

---

------

Restricted cash as of December 31, 2023 and 2024 is recorded in other assets on the consolidated balance sheets.

***Fair value measurements***

The Company determines the fair value of financial and non-financial assets and liabilities using the fair value hierarchy, which establishes three levels of inputs that may be used to measure the fair value, as follows:

**Level 1** — Observable inputs that reflect quoted prices (unadjusted) in active markets for identical assets or liabilities.

**Level 2** — Observable inputs other than quoted prices in active markets for identical assets or liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

**Level 3** — Inputs that are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability.

Financial assets and liabilities held by the Company measured at fair value on a recurring basis as of December 31, 2023 and 2024 include cash and cash equivalents, the derivative liability, and the warrant liability. Long-lived assets measured at fair value on a nonrecurring basis include any right-of-use ("ROU") assets that are written down as a result of an impairment. The Company recognized impairment charges related to ROU assets associated with certain leased office space that it subleased or abandoned during the year ended December 31, 2023. See Note 3 "Fair value measurements" for further detail.

***Accounts receivable, net***

Accounts receivable, net, include trade accounts receivable and spend management accounts receivable, net of an allowance for credit losses.

Trade accounts receivable, net, are recorded at the invoiced amount to subscription customers and do not bear interest. Subscription customers pay either by credit card where payments are typically due upon receipt of invoice, or have payment terms, typically net 30 days.

Spend management accounts receivable, net, primarily represent amounts billable to the cardholder of the Motive branded charge card (the "Motive Card"). The Company pays the merchant for the purchase price of each of the cardholder's transactions, and earns a percentage of the associated interchange fees that it records as revenue. Subsequently, the Company invoices and collects the total purchase price net of incentives from the Motive cardholder, with payment typically due upon receipt of invoice. The Company extends short term credit, typically 7 days, to Motive cardholders based on proprietary underwriting and credit management processes that assess their credit rating, which must fall within an acceptable range. The key indicator the Company assesses in monitoring the credit quality and risk of the spend management accounts receivable is delinquency. As of December 31, 2024, substantially all of the Company's spend management accounts receivable were current or less than 30 days past due.

Accounts receivable, net consist of the following:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Trade accounts receivable, net | $20017 | $32665 |
| Spend management accounts receivable, net | 6720 | 9664 |
| Accounts receivable, net | $26737 | $42329 |

---

The Company generally grants non-collateralized credit terms to its subscription customers and maintains an allowance for credit losses associated with uncollectible trade accounts receivables. In establishing the

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allowance, the Company considers factors such as historical losses adjusted for current market conditions and customer financial conditions, forward-looking economic forecasts and market trends. The Company also considers the amounts of receivables in dispute and the age of accounts receivable while routinely assessing the creditworthiness of its customers. Trade receivables are written off when they are deemed uncollectible.

The Company records spend management accounts receivable net of an allowance for credit losses, which is determined based on the collectability of such receivables. The assessment takes into account the creditworthiness of the Motive cardholders, historical loss-rate experience, and current economic trends. The Company also considers projections about future market conditions and economic scenarios that might affect the Motive cardholders' ability to settle their obligations. Spend management accounts receivables that remain unpaid once they are 120 days past due are written off.

The following tables summarize the roll-forward of the allowance for credit losses for trade accounts receivable and spend management accounts receivables:

*Trade accounts receivable—Allowance for credit loss*

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Beginning balance | $1376 | $763 |
| Provision for credit losses | 3378 | 4353 |
| Write-offs, net of recoveries | (3991) | (2897) |
| Ending balance | $763 | $2219 |

---

*Spend management accounts receivable—Allowance for credit loss*

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Beginning balance | $1478 | $1176 |
| Provision for credit losses | 3131 | 2369 |
| Write-offs, net of recoveries | (3433) | (2697) |
| Ending balance | $1176 | $848 |

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***Inventory***

Inventory is stated at the lower of cost or net realizable value on a first-in, first-out basis and consists primarily of finished goods, including uninstalled hardware devices, related cables, and miscellaneous components provided to customers with their cloud software subscription. The Company does not maintain significant balances of raw materials or work-in-process inventory. The Company periodically reviews inventory for excess and obsolete items based on assumptions about future demand and market conditions. Based on this evaluation, provisions are made to write inventory down to its net realizable value, as needed.

***Cloud computing arrangement implementation costs***

The Company capitalizes certain implementation costs incurred related to cloud computing arrangements that are service contracts. Such costs are amortized on a straight-line basis over the term of the associated hosting arrangement plus any reasonably certain renewal periods.

As of December 31, 2023 and 2024, the current portion of capitalized cloud computing costs, totaling $2.0 million and $0.8 million, respectively, was recorded in prepaid expenses and other current assets. The noncurrent portion, totaling $0.9 million and $0.2 million, respectively, was recorded in other assets.

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***Property and equipment, net***

Property and equipment, net is stated at cost less accumulated depreciation and is depreciated using the straight-line method over the estimated useful lives of the assets.

The useful lives of property and equipment are as follows:

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| | |
|:---|:---|
| | **Period (years)** |
| Computers and equipment | 3 to 5 |
| Furniture and fixtures | 5 |
| Leasehold improvements | Lesser of 5 years or remaining lease term |
| Internal-use software | 5 |

---

Maintenance and repair costs are charged to operating expenses as incurred.

***Internal-use software development costs***

The Company capitalizes qualifying costs incurred during the application development stage for its internal-use software. Capitalization of costs begins when the preliminary project stage is completed, management authorizes and commits to funding the software project, and it is probable that the project will be completed and the software will be used as intended. Capitalized costs primarily relate to the development and production of major enhancements to the Company's platform, and costs related to specific upgrades that are expected to result in additional features or functionality. The Company records these capitalized internal-use software development costs in property and equipment, net in its consolidated balance sheets and amortizes such costs on a straight-line basis over the estimated useful life of the software, which is generally five years. Costs related to preliminary project activities, post-implementation activities, maintenance, and training are expensed as incurred.

***Impairment of long-lived assets***

When there are indicators of potential impairment, the Company evaluates recoverability of the carrying values of property and equipment—including internal-use software—and operating lease ROU assets by comparing the carrying amount of the asset group to the estimated undiscounted future cash flows expected to be generated by the asset group. If the carrying amount of the asset group exceeds the estimated undiscounted future net cash flows, an impairment charge is recognized based on the amount by which the carrying value of the asset group exceeds the fair value of the asset group. The Company did not have goodwill or indefinite-lived intangible assets as of December 31, 2023 and 2024.

***Deferred costs***

*Deferred device costs*

The Company capitalizes at the time of shipment the cost of hardware devices provided to customers in connection with their subscription to access and use the Company's cloud software platform. These costs are recorded as deferred device costs on the Company's consolidated balance sheets. Deferred device costs are generally amortized over a five-year expected benefit period. The Company determined the benefit period by considering the technology lifecycle, expected customer relationship period, the devices' useful lives, and the warranty period. Amortization costs are included in cost of revenue in the consolidated statements of operations.

Deferred device costs amortization totaled $57.6 million and $72.4 million for the years ended December 31, 2023 and 2024, respectively.

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*Deferred commissions*

The Company capitalizes certain commissions and related payroll taxes that qualify as costs of obtaining a contract with a customer. Commissions associated with the initial customer contract are amortized straight-line basis over a five-year expected benefit period. The Company determined the period of benefit by considering factors such as the technology lifecycle, expected customer relationship period including contract renewals, the devices' useful lives and the warranty period, and other factors. Amortization costs are included in sales and marketing expenses in the consolidated statements of operations.

Deferred commissions amortization totaled $15.3 million and $19.4 million for the years ended December 31, 2023 and 2024, respectively.

***Warranty reserve***

The Company provides a limited warranty on hardware devices, provided to customers in connection with their subscription to access and use the Company's cloud software platform. The warranty covers defects in materials and workmanship for up to the useful life of the hardware device. The Company accrues a warranty reserve for such hardware devices at the time of sale, which represents management's best estimate of the projected costs to replace items under warranty. The reserve is based on historical claim experience, current information about device performance, and management judgment. Management reviews the adequacy of the warranty reserve on a regular basis and adjusts the reserve as necessary to reflect changes in estimated claim rates or expected costs.

A roll forward of the warranty reserve is as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Beginning balance | $3656 | $4704 |
| Additions | 5299 | 2263 |
| Deductions | (4251) | (2838) |
| Ending balance | $4704 | $4129 |

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***Leases***

The Company determines if an arrangement is or contains a lease at inception by assessing whether the arrangement contains an identified asset and whether it has the right to control the identified asset. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the use of the asset. The measurement of ROU assets and lease liabilities is based on the present value of future lease payments over the lease term. The ROU asset also includes the effect of any lease payments made prior to or on lease commencement, lease incentives received, and initial direct costs incurred, as applicable.

As the implicit rate in the Company's leases is not readily determinable, the Company uses its incremental borrowing rate based on information available at the lease commencement date in determining the present value of future lease payments. The Company does not recognize renewal options as part of operating ROU assets and operating lease liabilities unless it is reasonably certain it will exercise such option at lease commencement or a remeasurement event occurs that requires the reassessment of the option. Rent expense for the Company's operating leases is recognized on a straight-line basis over the lease term. Variable lease payments, including amounts related to common area maintenance, property taxes, and insurance, are determined based on actual costs incurred by the lessor and not on an index or rate. They are allocated to the Company in accordance with the terms of the lease agreements and are recognized as an expense in the period in which they are incurred.

The Company has elected not to separate lease and non-lease components for any leases within its existing classes of assets and, as a result, accounts for any lease and non-lease components as a single

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lease component. The Company has also elected to use the practical expedient for short-term leases and therefore does not record an ROU asset or liability for leases with a duration of 12 months or less.

The Company recognizes abandonment charges related to ROU assets when it ceases the use of leased office space prior to the end of the contractual lease term. Such charges are measured as the remaining carrying amount of the associated ROU assets at the abandonment date and are recognized in the consolidated statements of operations.

***Revenue recognition***

The Company generates revenue primarily from subscriptions to access and use the Company's platform priced on a per asset, per product basis along with an integrated suite of hardware devices, as well as revenue generated from the Company's Spend Management product, which includes interchange fees and fee rebates from the Company's partner network.

*Subscription revenue*

The Company's arrangements reflect a combined performance obligation to access and use its Integrated Operations Platform. The platform is not distinct from the related hardware devices because the platform is highly interdependent and interrelated with the hardware devices as both comprise a series of distinct services that work together to transform high volumes of operational data to provide customers with predictive, AI-driven insights throughout the customer's subscription term. Customer contracts vary in term from one to five years, and are generally noncancellable with automatic renewal for subsequent one-year terms. The Company has elected the practical expedient to account for shipping and handling costs related to the delivery of hardware devices as a fulfillment activity, and not a separate performance obligation.

The transaction price is the consideration to which the Company will be entitled in exchange for transferring goods or services to the customer as stated in customer contract, net of amounts payable to customers and financing fees paid on behalf of customers in connection with the Company's vendor financing arrangement, whereby third-party lenders provide funding for customers' purchase of the Company's products and services. The period between the Company's performance and customer payment are typically less than one year and as such, the Company applies the practical expedient to exclude the effects of significant financing components when determining the transaction price. The transaction price is also presented net of any taxes collected from customers and remitted to governmental authorities. For contracts containing multiple performance obligations, the Company allocates the transaction price to performance obligations based on their relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation as often the Company does not have sufficient standalone sales information. When standalone sales information is not available, the Company estimates the standalone selling price using information that may include market conditions, entity-specific factors such as pricing and discounting strategies, and other inputs.

Revenue derived from the combined performance obligation to access and use the Company's platform is recognized ratably over the customer's subscription term beginning when control of the services is transferred to the customer.

*Spend management revenue*

The Company earns revenue from its Spend Management product primarily through interchange fees and fee rebates from the Company's partner network.

Interchange fee revenue is earned under an agreement with a third-party card program manager to process Motive cardholder transactions and manage the relationship with the issuing bank and the card network. The Company does not control the services before they are transferred to the Motive cardholder; therefore, interchange fee revenue is recognized when transactions are processed, net of fees for third-party services. The third-party card program manager is the customer for these transactions.

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The Company also earns revenue from its partner network by entering into arrangements with strategic partners to establish and enhance consumer brand loyalty, whereby the Company earns fee rebates on qualifying purchases made by Motive cardholders. The network partner is the customer in these transactions. Revenue from fee rebates is recognized when the qualifying purchase occurs, net of incentives paid to Motive cardholders on qualifying purchases or other milestones.

*Other revenue*

Other revenue primarily includes material rights for initial hardware purchases, replacement hardware and accessories, professional services, and shipping and handling fees. The Company has determined that contracts containing an upfront payment for initial hardware purchases not charged upon renewal contain a material right. The transaction price allocated to the material right is recognized over the period in which the Company expects to provide goods and services to the customer, which is generally five years. Other revenue is recognized when the related services are performed or control of goods is transferred.

Revenue from products and services was as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Subscription | $293825 | $341787 |
| Spend management | 6069 | 11020 |
| Other | 10415 | 17643 |
| Total revenue | $310309 | $370450 |

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*Deferred revenue and contract assets*

Deferred revenue represents amounts due or received from the customer prior to revenue recognition as the related performance obligations are fulfilled, and primarily relates to advance payments for subscription-based contracts. The deferred revenue balance does not reflect the total contract value for multi-year, non-cancellable subscription agreements as the Company offers varying billing terms to customers, from monthly, quarterly, semi-annually, annually, and fully upfront payments. Contract assets are recognized when revenue earned on a contract exceeds billings, as is the case when ratable revenue recognition does not align with a customer's billing cycle. As of December 31, 2023 and 2024, contract assets of $2.6 million and $3.8 million, respectively, were recorded in prepaid and other current assets in the consolidated balance sheets.

The following table presents the changes in the deferred revenue balance:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
| **(in thousands)** | **2023** | **2024** |
| Deferred revenue, beginning of period | $138551 | $166841 |
| Deferred revenue, end of period | $166841 | $242155 |
| Revenue recognized in the period from beginning deferred revenue balance | $86725 | $103529 |

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Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized as of the end of each period, including both deferred revenue that has been invoiced and non-cancelable committed amounts that will be invoiced and recognized as revenue in future periods.

As of December 31, 2023 and 2024, $526.7 million and $693.3 million of revenue, respectively, was expected to be recognized from remaining performance obligations. The Company expects to recognize revenue on approximately $313.0 million or 45% of its remaining performance obligations as of December 31, 2024 over the next 12 months, with the remaining balance recognized thereafter.

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***Cost of revenue***

Cost of revenue consists primarily of the amortization of the deferred device costs; warranty expenses; software hosting-related costs; data network costs; customer support employee-related costs, including salaries and employee benefits; amortization of internal-use software development costs; depreciation of property and equipment used in these activities; and allocated overhead.

***Research and development***

Research and development costs are expensed as incurred and consist primarily of employee-related costs such as salaries, related benefits, and stock-based compensation for the Company's product development employees. Research and development expenses also include non-employee-related costs such as third-party services for product development, consulting expenses, depreciation expenses related to equipment used in research and development activities, and allocated overhead.

***Advertising costs***

Advertising costs are expensed as incurred and included in sales and marketing expenses in the consolidated statements of operations. Advertising costs for the years ended December 31, 2023 and 2024 totaled $16.1 million and $21.2 million, respectively.

***Employee benefit plans***

The Company provides a 401(k) defined-contribution savings plan for U.S. employees, allowing participants to defer a portion of their annual compensation on a pretax basis. Company contributions to the plan are at the board of director's (the "Board") discretion. The Company also employs personnel in Pakistan. Employees in Pakistan can participate in a similar plan in which the Company and employees can contribute a portion of the employee's salary. During the years ended December 31, 2023 and 2024, the Company made matching contributions of $2.2 million and $3.1 million, respectively.

Prior to November 2020, Pakistan employees were entitled to benefits under the Gratuity Act, a defined benefit retirement plan based on salary and service length. The plan requires employers to provide for a lump-sum payment to eligible employees at retirement, death, and incapacitation or on termination of employment. Employees in Pakistan are also entitled to a defined benefit plan with benefits based on an employee's accumulated leave balance and salary, both unfunded.

Service costs are accrued in the period they occur. The benefit obligations are calculated by a qualified actuary using the projected unit credit method and the unfunded position is recognized as a liability in the consolidated balance sheets. In measuring the defined benefit obligations, the Company uses a discount rate at the reporting date based on yields of local government treasury bills, matching the currency and maturity terms of the obligations.

Since the plan is unfunded, no annual contributions are required by applicable regulations. The benefit obligations for the plan recorded on the consolidated balance sheets at December 31, 2023 and 2024 were $1.0 million and $1.1 million, respectively. Of these, $0.2 million and $0.3 million were recorded in accounts payable and accrued expenses, respectively, and $0.8 million was recorded in other liabilities for both years.

***Stock-based compensation***

The Company has granted equity classified stock-based awards consisting primarily of stock options and restricted stock units ("RSUs") to employees, members of the Board, and non-employee advisors.

For stock options, which generally vest solely on a service-based vesting condition, the grant-date fair value is determined using the Black-Scholes option pricing model, and compensation expense is recognized on a straight-line basis over the requisite service period.

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The Company grants RSUs with both a service-based vesting condition and a liquidity event-based vesting condition. Compensation expense for RSUs is recognized only when it is probable that the liquidity event-based vesting condition will be satisfied. The grant-date fair value of RSUs is based on the market price of the Company's common stock on the date of grant. The Company also grants performance-based RSUs ("PRSUs") that include market-based vesting conditions, in addition to service- and liquidity event-based vesting conditions. Compensation cost for PRSUs is recognized when it becomes probable that the market-based vesting condition will be achieved, and compensation cost for PRSUs with a market-based vesting condition is recognized over the requisite service period, with the grant date fair value estimated using a Monte Carlo simulation model, regardless of whether the market-based vesting condition is ultimately satisfied.

Certain stock option holders are permitted to exercise stock options before they vest (each, an "Early Exercise"). Shares of Class A common stock issued upon Early Exercise that have not yet vested are subject to a contractual right of the Company (the "Repurchase Right") to repurchase such shares at the original exercise price of the applicable stock option if the holder's service to the Company terminates before such shares vest. Proceeds received from an Early Exercise of stock options are recorded as a liability in the consolidated balance sheets and are reclassified to common stock and additional paid-in capital as the awards vest. The Company also issued promissory notes for the Early Exercise of stock options subject to the Repurchase Right. These notes are collateralized by the related common stock, are generally full recourse in nature, and bear annual interest. Repayment is due within seven or ten years of the date of the promissory note, or earlier in certain events.

***Concentrations of risk and significant customers***

Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents and accounts receivable. The Company's cash and cash equivalents are held at financial institutions where account balances may at times exceed federally insured limits. The Company reduces the risk of being exposed to a single provider by maintaining banking relationships with a number of larger financial institutions. The Company has no financial instruments with off-balance sheet risk of loss.

The Company has no customers that represented 10% or more of the Company's total revenue or accounts receivable for the years ended December 31, 2023 and 2024.

***Supplier concentration***

The Company relies on third parties for the supply and manufacture of its hardware devices, which are sold together with its platform, as well as third-party logistics providers, both domestically and internationally. A significant disruption in the operations of these suppliers, manufacturers, and third-party logistics providers would impact the production of the Company's products for a substantial period of time, which could have a material effect on the Company's business, operating results, and financial condition. The Company had certain suppliers whose purchases individually represented 10% or more of the Company's total purchases. Purchases of finished goods from these suppliers amounted to the following percentages of total purchases in the periods presented:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
| | **2023** | **2024** |
| Supplier A | 12% | 11% |
| Supplier B | 20% | 17% |

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***Restructuring***

The Company records a liability for employee termination benefits either when it is probable that an employee is entitled to them and the amount of the benefits can be reasonably estimated, or when the Company has communicated the termination plan to employees and actions required to complete the

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plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

In July 2023, the Company undertook a restructuring plan to prioritize specific Company initiatives, resulting in a 5% reduction in headcount. The Company recorded $2.2 million in restructuring charges during the year ended December 31, 2023 related to employee severance payments and termination benefits. These charges are included within restructuring in the consolidated statements of operations. As of December 31, 2023, there were no remaining restructuring liabilities associated with the restructuring plan.

***Other expense, net***

The following table presents the components of other expense, net for the periods presented:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Interest expense | $(37332) | $(41625) |
| Change in fair value of derivative liability | 11992 | (262) |
| Other income, net | 6377 | 1561 |
| Total other expense, net | $(18963) | $(40326) |

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***Income taxes***

The Company accounts for income taxes using the asset and liability method whereby deferred tax assets and liabilities are determined based on temporary differences between the bases used for financial reporting and income tax reporting purposes.

The Company recognizes deferred tax assets to the extent management believes future tax benefits are more likely than not to be realized. In making such a determination, all available positive and negative evidence including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations are considered. The Company evaluates the ability to realize net deferred tax assets and the related valuation allowance on a quarterly basis.

The Company operates in various tax jurisdictions and is subject to audit by the respective tax authorities. The Company records tax contingencies whenever management deems it more likely than not that a tax asset has been impaired, or a tax liability has been incurred due to tax claims or changes in tax laws. Tax contingencies are evaluated based upon their technical merits, applicable tax law, and the specific facts and circumstances as of each reporting period. Changes in facts and circumstances could result in material changes to the amounts recorded for such tax contingencies.

The Company recognizes a tax benefit from an uncertain tax position using a two-step approach. Recognition (step one) occurs when the Company concludes that a tax position, based solely on its technical merits, is more likely than not to be sustainable upon examination. Measurement (step two) determines the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information.

***Segment information***

Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker ("CODM") in deciding how to allocate resources to an individual segment and in assessing performance. The Chief Executive Officer is the Company's CODM. The CODM reviews Company wide key performance metrics and financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The Company's objective in making resource allocation decisions is to optimize the consolidated financial results. The significant segment expenses reviewed by

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the CODM conform to the presentation of such items in the consolidated statements of operations. As such, the Company has determined that it operates as one operating segment.

***Net loss per share attributable to common stockholders***

Basic net loss per share attributable to common stockholders is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration for potential dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock and common stock equivalents of potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, restricted stock units, stock options, preferred stock, warrants, convertible notes and other convertible securities, and promissory notes are considered to be potentially dilutive securities. As the Company was in a net loss position for 2023 and 2024, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders because the effects of potentially dilutive securities are antidilutive.

***Foreign currency***

The functional currency of the Company's foreign subsidiaries is the U.S. dollar, as the majority of its transactions are denominated in U.S. dollars. Monetary assets and liabilities of the Company's foreign subsidiaries are remeasured into U.S. dollars at the exchange rates in effect at the reporting date, and non-monetary assets and liabilities are re-measured at historical rates. Foreign currency transaction gains and losses, which are immaterial for the years ended December 31, 2023 and 2024, are recorded in other expense, net in the consolidated statement of operations.

***Recently issued accounting standards***

*Recently adopted accounting standards*

In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, *Financial instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments*, and subsequent related ASUs, which amend the guidance on the impairment of financial instruments by requiring measurement and recognition of credit losses for financial assets held. ASU 2016-13 is effective for public and private companies' fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, and December 15, 2022, respectively. The Company adopted ASU 2016-13 on January 1, 2023 with no material impact to its consolidated financial statements.

In November 2023, the FASB issued ASU 2023-07, *Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures*. This ASU requires disclosure of significant segment expenses that are regularly provided to the CODM and included in each reported segment's profit or loss measures. It also requires disclosure of other segment items and expanded qualitative disclosures. The Company adopted ASU 2023-07 retrospectively during the year ended December 31, 2024. The required disclosures have been included in Note 13, "Segment, revenue, and geographic information," for the years ended December 31, 2023 and 2024.

*Recent accounting standards or updates not yet adopted*

In December 2023, the FASB issued ASU 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures*, to expand the disclosure requirements for income taxes, which requires greater disaggregation of income tax disclosures related to the income tax rate reconciliation and income taxes paid. This ASU is effective for public and private companies' fiscal years beginning after December 15, 2024 and December 15, 2025, respectively. The Company is currently evaluating the accounting and disclosure requirements and impacts of ASU 2023-09.

In November 2024, the FASB issued ASU 2024-03, *Disaggregation of Income Statement Expenses (Subtopic 220-40)*, to provide users of financial statements with more decision-useful information about

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expenses of a public business entity. ASU 2024-03 requires enhanced disclosures of certain components of expenses commonly presented within captions on the statement of operations, such as employee compensation and depreciation and amortization, as well as a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. The standard also requires disclosure of the total amount of selling expenses. ASU 2024-03 is effective for public business entities for fiscal years beginning after December 15, 2026, and interim periods within those fiscal years, and for all other entities for fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact that this standard will have on its disclosures.

**3.&nbsp;&nbsp;&nbsp;&nbsp;Fair value measurements**

Fair value accounting is applied for all financial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. As of December 31, 2023 and 2024, the carrying amount of cash and cash equivalents, accounts receivable, other current assets, accounts payable and accrued expenses, and other current liabilities approximated their estimated fair values due to their relatively short maturities.

Changes in fair value measurements primarily relate to the Company's embedded derivative liability and warrant liability, which are recognized in other expense, net, and can result in volatility in the Company's reported results of operations and cash flows.

The following table provides the financial instruments measured at fair value:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2023** | **December 31, 2023** | **December 31, 2023** | **December 31, 2023** |
|<br>**(in thousands)** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets** | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market funds | $30663 | $— | $— | $30663 |
| &nbsp;&nbsp;&nbsp;&nbsp;Demand deposit | $28452 | $— | $— | $28452 |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative liability | $— | $— | $922 | $922 |

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| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|<br>**(in thousands)** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets** | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market funds | $3205 | $— | $— | $3205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Demand deposit | $9185 | $— | $— | $9185 |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative liability | $— | $— | $1184 | $1184 |
| &nbsp;&nbsp;&nbsp;&nbsp;Warrant liability | $— | $— | $4070 | $4070 |

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Certain long- and indefinite-lived assets are recognized at fair value on a nonrecurring basis, including assets that are written down as a result of an impairment. The Company recognized impairment charges related to ROU assets associated with certain leased office space that it subleased or abandoned during the year ended December 31, 2023. See Note 5 "Leases" for further detail. The Company estimated the fair value of these assets as of the impairment dates using an income approach based on discounted cash flows expected to be received for the subleased or abandoned properties. This valuation technique relied on certain assumptions made by management based on both internal and external data, such as the incremental borrowing rates used to discount these cash flows to their present values. As a result, these assets are classified within Level 3 of the fair value hierarchy.

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The Company had $200.0 million and $250.0 million of Term Loans (as defined and described in Note 8 "Debt") outstanding with a carrying value of $198.2 million and $244.1 million as of December 31, 2023 and December 31, 2024, respectively. The Term Loans are classified as Level 2 in the fair value hierarchy. The Company believes the carrying value of its Term Loans as of December 31, 2023 and December 31, 2024 approximates its fair value as interest incurred is variable based on market rates. See Note 8 "Debt" for more information.

There were no transfers into or out of Level 3 of the fair value hierarchy during the periods presented.

***Derivative liability***

The fair value of the embedded derivative liability related to the Company's issuance of certain convertible notes discussed in Note 8 "Debt" was estimated using a with-and-without method. This method isolates the value of the embedded derivative by measuring the difference in the host contract's value with and without the isolated feature. The probability and timing of a qualified event of conversion are estimated at each reporting date. Given the macroeconomic and market conditions at the time of the valuation, management estimated that the expected term (i.e., time) for the Company's exit event would be 1.5 years as of December 31, 2023, and 2.0 years as of December 31, 2024, respectively.

The Company utilizes a Monte Carlo simulation approach due to increased market volatility and to align the valuation of the preferred stock-settled conversion feature and the common and preferred stock-settled redemption features. The key assumptions used for valuation of the derivative liability were as follows:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2023** | **2024** |
| Volatility | 18.7% | 19.8% |
| Risk-free rate | 4.4% | 4.2% |
| Expected term (years) | 1.5 | 2.0 |
| Discount rate | 18.5% | 16.5% |

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The following table sets forth a summary of the changes in fair value of the embedded derivative liability:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Beginning balance | $12914 | $922 |
| Change in fair value | (11992) | 262 |
| Ending balance | $922 | $1184 |

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***Warrant liability***

The warrant liability relates to warrants issued in 2024 as part of an amendment to the Credit Agreement discussed in Note 8 "Debt." The fair value of the warrant liability was estimated using a Monte Carlo simulation, a method suitable for instruments with path-dependent features and contingent settlement structures. This method projects the Company's preferred share value over the expected term,

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incorporating multiple potential exit scenarios, including an initial public offering ("IPO") or a remain private event. The warrant liability is included in other liabilities on the consolidated balance sheets.

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| | |
|:---|:---|
| **(in thousands)** | **December 31,<br>2024** |
| Beginning balance | $— |
| Issuance | 4070 |
| Change in fair value |  |
| Ending balance | $4070 |

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The warrant liability was initially valued upon issuance on November 27, 2024, and there was no material change in the value of the warrant liability as of December 31, 2024.

The key assumptions used for valuation of the warrant liability were as follows:

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| | |
|:---|:---|
| | **December 31,<br>2024** |
| Volatility | 35.5% |
| Risk-free rate | 4.2% |
| Expected term (years) | 1.5 |
| Discount rate | 15.5% |

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**4.&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net**

Property and equipment, net consists of the following:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Internal-use software | $16404 | $17631 |
| Computers and equipment | 14259 | 16541 |
| Leasehold improvements | 3282 | 3260 |
| Furniture and fixtures | 1093 | 1103 |
| &nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, gross | 35038 | 38535 |
| Less: accumulated depreciation and amortization | (20653) | (25572) |
| &nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net | $14385 | $12963 |

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The following table provides the amounts capitalized and amortized for the Company's internal-use software development costs for the periods presented:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Beginning balance, net of accumulated amortization | $8970 | $9134 |
| Additions | 2795 | 2052 |
| Amortization | (2631) | (2273) |
| Write-offs |  | (825) |
| Ending balance, net of accumulated amortization | $9134 | $8088 |

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The Company recorded $6.5 million and $6.1 million in depreciation related to property and equipment and amortization of capitalized software costs for the years ended December 31, 2023 and 2024, respectively.

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**5.&nbsp;&nbsp;&nbsp;&nbsp;Leases**

The Company has non-cancellable operating leases for corporate offices with various expiration dates. These leases require monthly lease payments that may be subject to annual increases throughout the lease term. The lease terms expire at various dates through 2028. Options to extend the respective lease terms have not been included as the Company did not consider it reasonably certain it would exercise such options.

For the years ended December 31, 2023 and 2024, the components of lease cost were as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Operating lease cost | $7608 | $4922 |
| Short-term lease cost | 70 | 181 |
| Sublease income | (467) | (819) |
| Total lease cost | $7211 | $4284 |

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Cash paid for amounts included in the measurement of operating lease liabilities for the years ended December 31, 2023 and 2024, were $8.9 million and $9.3 million, respectively. These payments were included in net cash used in operating activities in the Company's consolidated statements of cash flows. These cash payments may differ from the total lease cost recognized due to timing differences and other non-cash adjustments, such as the impact of straight-line lease expense and sublease income.

During the year ended December 31, 2023, the Company subleased portions of its corporate headquarters to various sublessees, with subleases commencing at various dates in 2023. Each sublease was classified as an operating lease. As indicators of impairment arose, the Company determined that the carrying values of the related ROU assets associated with the subleased office space were not fully recoverable. As a result, the Company measured and recognized total impairment charges of $3.6 million. Additionally, the Company made a decision to abandon certain portions of its leased office spaces and therefore ceased both the use of the space and marketing of the space for sublease. This resulted in an abandonment charge related to the ROU assets of $3.8 million.

As of December 31, 2024, these subleases have 0.5 years remaining on their terms.

Supplemental information related to operating leases was as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
| | **2023** | **2024** |
| Weighted-average remaining lease term (years) | 2.3 | 1.7 |
| Weighted-average discount rate | 6.0% | 7.9% |

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Future payments included in the measurement of operating lease liabilities were as follows:

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| | |
|:---|:---|
|<br>**Fiscal years ending** | **December 31,<br>2024**<br>**(in thousands)** |
| 2025 | $5332 |
| 2026 | 951 |
| 2027 | 880 |
| 2028 | 768 |
| 2029 | 135 |
| Total future minimum lease payments | 8066 |
| Less: imputed interest | (841) |
| Total operating lease liabilities | $7225 |

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**6.&nbsp;&nbsp;&nbsp;&nbsp;Commitments and contingencies**

From time to time, the Company may be subject to various claims, lawsuits, and proceedings in the ordinary course of business. A liability for loss contingencies is recorded when it is probable that a loss will be incurred and the amount can be reasonably estimated. The outcomes of the Company's legal proceedings are inherently unpredictable, subject to significant uncertainties, and could be material to operating results and cash flows for a particular period. Management evaluates, on a regular basis, developments in legal proceedings that could affect the amount of liability, including amounts in excess of any previous accruals and reasonably possible losses disclosed, and makes adjustments to accruals and disclosures as appropriate. Until the final resolution of such matters, if any of management's estimates and assumptions change or prove to have been incorrect, the Company may experience losses in excess of the amounts recorded.

As of December 31, 2024, management believes any such matters, except those noted below, will not have a material adverse impact on the Company's business, operating results, financial condition, or cash flows.

***Litigation***

*Samsara litigation*

The Company is a party to multiple legal proceedings brought by Samsara, Inc. ("Samsara"), a competitor of the Company, that revolve around a similar set of factual issues. For purposes of assessing materiality, the Company has considered these legal proceedings together but lists them individually to disclose the different venues, dates the proceedings were instituted, and relief sought. The Company believes Samsara's legal claims are without merit and is disputing the allegations.

<u>Samsara, Inc. v. Motive Technologies, Inc.</u>

*N.D. California –* On January 24, 2024, Samsara filed a complaint in the United States District Court for the District of Delaware, alleging that the Company's products and services infringed three Samsara patents, the benchmarking studies commissioned by the Company from independent third parties about the performance of Samsara's AI Dashcam violated the false advertising provisions of Section 43(a) of the Lanham Act, 15 U.S.C. § 1125(a), and various breach of contract, violation of law, and unfair competition claims against the Company for marketing the benchmarking studies and allegedly improper access of Samsara's platform. On August 14, 2024, the Delaware court granted the Company's motion to transfer the case to the United States District Court for the Northern District of California. On March 31, 2025, the Northern California district court entered an order staying the action pending resolution of the Judicial Arbitration and Mediation Services, Inc. ("JAMS") Arbitration and International Trade Commission Investigation summarized below.

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*JAMS Arbitration –* On February 28, 2024, the Company filed an arbitration demand with JAMS to arbitrate the issues raised in the federal district court action filed by Samsara discussed above. On November 17, 2024, the JAMS arbitrator granted the Company's demand to enforce the arbitration provisions in Samsara's terms of service, and ordered the parties to arbitrate the non-patent claims related to the benchmarking studies and the Company's access to Samsara's platform. Samsara seeks injunctive relief, compensatory damages, disgorgement of profits, punitive damages, civil penalties, attorneys' fees, and costs and expenses. The arbitration occurred in August 2025. The arbitrator has not yet issued a decision.

*International Trade Commission Investigation –* On February 9, 2024, immediately after filing their patent claims in the Delaware court, Samsara filed another complaint about the same three patents before the International Trade Commission, requesting an investigation pursuant to section 337 of the Tariff Act of 1930. On March 12, 2024, the International Trade Commission granted Samsara's request and instituted an investigation. The evidentiary hearing occurred in March 2025. The Administrative Law Judge has indicated that she will issue her Final Initial Determination in September 2025. The target date for completion of the investigation is in January 2026. Samsara seeks to enjoin the importation of the Company's infringing product features.

*San Francisco Superior Court –* On October 13, 2024, Samsara filed another complaint in Superior Court for the State of California, in the County of San Francisco, alleging that the Company's products and services are the result of trade secret misappropriation. On January 29, 2025, the Company moved to compel arbitration and stay the proceeding pending arbitration. On February 20, 2025, the San Francisco court ordered a stay pending the outcome of the JAMS Arbitration. Samsara seeks relief similar to what it is seeking in the JAMS Arbitration.

<u>Motive Technologies, Inc. v. Samsara, Inc., N.D. California</u>

On February 15, 2024, the Company filed a complaint against Samsara in the United States District Court for the Northern District of California alleging that Samsara's products and services infringe a patent owned by the Company, that Samsara improperly accessed the Company's platform to copy its products and services, hired the Company's employees to misappropriate trade secrets, and used the pending legal proceedings to defame the Company and interfere with its conduct of business.

On June 3, 2024, the Northern California court granted Samsara's motion to stay the case pending developments in the JAMS Arbitration summarized above. On March 31, 2025, the court lifted the stay. Samsara filed counterclaims on May 16, 2025 alleging infringement of three patents not previously asserted by them. On July 9, 2025, the Company filed an amended complaint alleging infringement of two additional patents owned by it. Trial is scheduled to commence August 30, 2027. The Company is seeking injunctive relief, compensatory damages, disgorgement of profits, punitive damages, attorneys' fees, and costs and expenses.

*Class action litigation*

<u>Walter Williams v. Motive Technologies, Inc. and Pure Freight Lines, Ltd.</u>

On October 16, 2024, Walter Williams filed an amended complaint adding the Company as a defendant in a case that was pending against Pure Freight Lines Ltd., a former customer of the Company who was also Mr. Williams' former employer. Mr. Williams alleges that Pure Freight's use of the Company's dashcam violated his rights under the Illinois Biometric Information Privacy Act, 740 ILCS 14/a, et seq. ("BIPA"). In addition to his individual claim, Mr. Williams seeks to represent a class of drivers that had their information similarly captured by the Company's system in Illinois, and a sub-class of individuals subject to in-cabin camera monitoring in Illinois while employed as drivers for Pure Freight. The case is pending in the United States District Court for the Northern District of Illinois. Mr. Williams seeks: (i) statutory damages for the class, (ii) injunctive relief, and (iii) a class that includes non-Illinois residents. On August 28, 2025, the court granted the Company's motion to stay the case pending the appeal in Reginald Clay v. Union Pacific Railroad Company, Case No. 25-2185, which will determine whether a recent amendment

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to BIPA is retroactive and applies to legal claims made prior to the amendment's effective date. The Company believes the BIPA claims are without merit and disputes the allegations.

*Other litigation*

During the year ended December 31, 2023, the Company recorded an expense of $1.8 million related to the settlement of a patent infringement dispute with a third-party company. During the year ended December 31, 2024, the Company recorded an expense of $4.2 million related to settlement agreements that were subsequently entered into in June 2025. These settlement agreements related to a class action complaint against the Company for alleged violations under the Telephone Consumer Protection Act. These expenses are included within legal settlement expenses in the consolidated statements of operations for the years ended December 31, 2023 and 2024, respectively.

***Non-cancellable purchase commitments***

The Company enters into contracts with purchase commitments consisting of contractual arrangements for software, software hosting, and data network expenses. As of December 31, 2024, future minimum commitments were as follows:

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| | |
|:---|:---|
|<br>**Fiscal years ending** | **Minimum annual commitments**<br>**(in thousands)** |
| 2025 | $20328 |
| 2026 | 18269 |
| 2027 | 7021 |
| Total future minimum commitments | $45618 |

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**7.&nbsp;&nbsp;&nbsp;&nbsp;Balance sheet components**

Prepaid expenses and other current assets consisted of:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Prepaid expenses | $8071 | $8038 |
| Deposits | 6973 | 7633 |
| Other current assets | 2934 | 4261 |
|  | $17978 | $19932 |

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Other assets consisted of:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Restricted cash | $3502 | $3502 |
| Other assets | 3293 | 2415 |
|  | $6795 | $5917 |

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Accounts payable and accrued expenses consisted of:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Accounts payable | $16852 | $27928 |
| Accrued legal expenses | 643 | 23818 |
| Accrued compensation | 10249 | 17409 |
| Accrued operating expenses | 7446 | 11593 |
| Accrued inventory purchases | 6387 | 5182 |
|  | $41577 | $85930 |

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Other current liabilities consisted of:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Warranty reserve | $4704 | $4129 |
| Customer advances | 4178 | 3313 |
| Other | 215 | 113 |
|  | $9097 | $7555 |

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**8.&nbsp;&nbsp;&nbsp;&nbsp;Debt**

***Convertible notes***

In April 2019, the Company entered into a convertible securities purchase agreement (the "Purchase Agreement") with investors to issue and sell $100.0 million of convertible securities (the "Convertible Notes"). The Convertible Notes accrue yield at an annual rate of 5.5%, compounded semi-annually. Unless converted prior to maturity, the aggregate purchase amount and accrued yield were originally due in full on October 1, 2025. In September 2024, the maturity date was amended to be the date that is 176 days after the maturity date of the Credit Agreement, which in any event, may not be earlier than October 1, 2027.

The Purchase Agreement contains preferred stock-settled conversion features and common and preferred share-settled redemption features that are triggered either automatically or at the election of the investors upon an event of default, a deemed liquidation event, the maturity date, or a qualified public offering. The conversion price and number of shares into which the outstanding purchase amount and yield are convertible into is based upon the lesser of $1.75 billion divided by the number of fully-diluted shares of common stock then outstanding or the price per share of a future equity issuance multiplied by a discount factor. The Company determined that the preferred stock-settled conversion feature and common and preferred stock-settled redemption features require bifurcation as a compound embedded derivative measured at fair value. Accordingly, upon issuance of the Convertible Notes, the Company recognized a derivative liability of $29.5 million. The derivative liability resulted in a debt discount, which is accreted to interest expense over the term of the Convertible Notes.

The Purchase Agreement contains customary affirmative and negative covenants and events of default. Such covenants will, among other things, restrict, subject to certain exceptions, the Company's ability to (i) pay dividends or make distributions on any equity securities, (ii) redeem or repurchase equity securities, (iii) incur additional indebtedness in excess of $100.0 million or additional indebtedness convertible into equity, (iv) engage in certain transactions with affiliates, (v) create any subsidiaries other than those that are wholly owned, and (vi) effectuate any (A) recapitalization or (B) other material amendment to the rights, preferences, and privileges of the Company's preferred or common stock. If an event of default occurs, the investors are entitled to take various actions, including the acceleration of amounts due and all actions permitted to be taken by a secured creditor.

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The Company's outstanding Convertible Notes consisted of:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2023** | **2023** | **2023** | **2024** | **2024** | **2024** |
|<br>**(in thousands)** | **Purchase amount** | **Debt discount** | **Net** | **Purchase amount** | **Debt discount** | **Net** |
| Convertible Notes | $129835 | $(11302) | $118533 | $137197 | $(6727) | $130470 |

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The purchase amount of the Convertible Notes includes accrued yield, totaling $29.8 million and $37.2 million as of December 31, 2023 and 2024, respectively. As of December 31, 2023 and 2024, the Convertible Notes were convertible into approximately 30,482,724 and 32,996,065 shares of Class A common stock, respectively, based on the conversion terms in effect at each period end.

***Term loans***

In April 2021, the Company entered into a credit agreement (the "Credit Agreement") with each of the various lender parties thereto (the "Lenders") for the issuance of a term loan in an aggregate principal amount of $75.0 million and an additional term loan in an aggregate principal amount of $25.0 million. During the year ended December 31, 2021, the Company drew the full amounts of these initial term loans.

The Credit Agreement was subsequently amended and restated to secure additional funding as follows:

• In July 2021, the Company entered into the first amendment to the Credit Agreement to amend the schedule of lenders and commitments, amongst other things.

• In December 2021, the Company entered into the second amendment to the Credit Agreement to secure an additional term loan in an aggregate principal amount of $25.0 million.

• In March 2022, the Company entered into the third amendment to the Credit Agreement to secure an additional term loan in an aggregate principal amount of $25.0 million.

• In August 2022, the Company entered into the fourth amendment to the Credit Agreement to secure an additional term loan in an aggregate principal amount of $50.0 million.

• In March 2024, the Company entered into the fifth amendment to the Credit Agreement (the "March 2024 Loan Amendment") to amend the term loan maturity date and the minimum qualified cash covenant, amongst other things.

• In June 2024, the Company entered into the sixth amended and restated the Credit Agreement to draw an additional aggregate principal amount of $50.0 million and to include a required equity issuance covenant.

• In November 2024, the Company entered into the seventh amendment to the Credit Agreement to amend the required equity issuance covenant and minimum qualified cash covenants, amongst other things. The Company also issued Warrants (as defined below) as part of this amendment (see the section titled '—Warrant issuance' below).

• In May 2025, the Company amended the Credit Agreement to amend the restricted payments and restrictive agreements covenant, amongst other things, to permit the 2025 Convertible Securities Financing (as defined below).

See Note 14 "Subsequent events" for further details on the 2025 Convertible Securities Financing. The Company also amended the Warrants as part of this amendment (see the section titled "—Warrant issuance").

Collectively, these borrowings are referred to as the "Term Loans." The Term Loans were originally set to mature on April 8, 2025. Pursuant to the March 2024 Loan Amendment, the maturity date was extended

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to April 8, 2027. For the year ended December 31, 2024, the Company incurred $0.8 million in issuance costs in relation to the Term Loans. Debt issuance costs are capitalized and amortized to interest expense over the term of the Term Loans.

***Warrant issuance***

On November 27, 2024, the Company issued certain preferred warrants (the "Warrants") to the lending institutions as part of an amendment to the Credit Agreement. As of December 31, 2024, the Warrants have the following terms:

• Number of Shares: The value of $3.8 million divided by the Applicable Preferred Price, which is the lowest price per share at which the Company issues Applicable Preferred Stock in the Applicable Preferred Financing (each as defined in the Warrants and further described below).

• Applicable Preferred Price: The lowest price per share at which the Company issues the Applicable Preferred Stock (or, in the case of convertible securities, at which the Applicable Preferred Stock is issuable thereunder) in the Applicable Preferred Financing.

• Applicable Preferred Stock: The senior-most class or series of convertible preferred stock of the Company issued (or, in the case of convertible securities, issuable thereunder) in the Applicable Preferred Financing.

• Applicable Preferred Financing: The Company's first bona fide equity financing with gross proceeds to the Company of no less than $30.0 million consummated after November 27, 2024 in which the Company issues convertible preferred stock, or securities convertible into shares of convertible preferred stock, that is senior or at least pari passu (and not junior in any respect, including with respect to dividends, liquidation, conversion, voting, protective provisions or otherwise, other than with respect to the voting rights of Class B common stock) to the then senior-most class or series of equity securities of the Company, excluding any issuance of securities convertible into shares of the Company's capital stock and/or any issuance of equity pursuant to such convertible securities, if issued prior to July 1, 2025.

• Exercise Price: $0.01 per share.

• Expiration: The earlier of November 27, 2034, an IPO, or the closing of an acquisition.

• Repurchase Obligation: 30 days prior to expiration, the Company may be required to purchase the Warrants for the face amount of the Warrants, which was $3.8 million as of December 31, 2024.

In addition, the Company issued common stock warrants in 2016 and 2017 that remain outstanding. As of December 31, 2023 and 2024, warrants to purchase an aggregate of 380,820 shares of Class A common stock were outstanding, with exercise prices ranging from $0.06 to $0.10 per share.

Under the Credit Agreement, the proceeds of the Term Loans are to be used solely (i) to pay off remaining principal and interest relating to prior credit facilities, (ii) for working capital and other general corporate purposes, and (iii) to pay fees and expenses associated with the Term Loans. Interest is charged at a rate that is equal to (A) the Secured Overnight Financing Rate, as defined by the terms of the Credit Agreement, plus (B) 7.25% plus (C) an interest rate period adjustment of up to 0.4%. Interest is payable monthly through maturity. The Company has the option to prepay the Term Loans, in whole or in part, subject to prepayment penalties, provided that any prepayments shall be allocated pro rata between the Term Loans. The Term Loans are collateralized by first priority or equivalent security interests in substantially all the property, rights, and assets of the Company.

The Credit Agreement contains customary affirmative and negative covenants and events of default. Such covenants will, among other things, restrict, subject to certain exceptions, the Company's ability to (i) incur additional indebtedness, (ii) create, incur, assume, or permit to exist any lien on any property or asset of the Company, (iii) enter into any sale and lease-back transaction, (iv) acquire equity interest and certain investments, (v) engage in certain mergers or consolidations, (vi) make certain dividends or other

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distributions, (vii) engage in certain transactions with affiliates, and (viii) make changes in the nature of the Company's business. The Credit Agreement also requires the Company to maintain a minimum loan to revenue ratio and various financial and other customary reporting covenants. If an event of default occurs, the Lenders under the Credit Agreement are entitled to take various actions, including the acceleration of amounts due under the Credit Agreement and all actions permitted to be taken by a secured creditor.

The Company's outstanding long-term debt consisted of:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2023** | **2023** | **2023** | **2024** | **2024** | **2024** |
|<br>**(in thousands)** | **Principal** | **Unamortized debt issuance costs** | **Net** | **Principal** | **Unamortized debt issuance costs** | **Net** |
| Term Loans | $200000 | $(1818) | $198182 | $250000 | $(5945) | $244055 |
| Less: current portion |  |  |  |  |  |  |
| Long-term debt, net of current portion |  |  | $198182 |  |  | $244055 |

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The total amount of interest cost recognized in relation to the Company's debt consisted of:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Contractual interest expense |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible Notes | $6948 | $7362 |
| &nbsp;&nbsp;&nbsp;&nbsp;Term Loans | 25254 | 28800 |
| Amortization of debt discount and issuance costs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible Notes | 3903 | 4576 |
| &nbsp;&nbsp;&nbsp;&nbsp;Term Loans | 1227 | 887 |
| Total interest expense recognized | $37332 | $41625 |

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As of December 31, 2024, and through the date the consolidated financial statements was available to be issued, the Company was in compliance with all financial debt covenants.

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**9.&nbsp;&nbsp;&nbsp;&nbsp;Convertible preferred stock and stockholders' deficit**

***Convertible preferred stock***

The authorized, issued, and outstanding shares of convertible preferred stock, and liquidation preferences were as follows:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | **December 31, 2023 and 2024** | **December 31, 2023 and 2024** | **December 31, 2023 and 2024** | **December 31, 2023 and 2024** |
|<br>**(in thousands, except share and per share data)** |<br>**Issuance date** |<br>**Shares authorized** | **Shares issued and outstanding** | **Original issue price per share** | **Net carrying value** | **Aggregate liquidation preference** |
| **Series A**  | June 2015 | 62247999 | 62247999 | $0.2525 | $15718 | $15718 |
| **Series B**  | May 2017 | 49950141 | 49950141 | 0.3183 | 15814 | 15899 |
| **Series C**  | December 2017 | 23169603 | 23169603 | 2.1580 | 49904 | 50000 |
| **Series D**  | April - November 2019 | 24431541 | 13844565 | 4.9117 | 67780 | 68000 |
| **Series E**  | April - July 2021 | 13887900 | 13887894 | 7.2005 | 99807 | 100000 |
| **Series F**  | May - October 2022 | 32051280 | 22980765 | 7.8000 | 179112 | 179250 |
|  |  | 205738464 | 186080967 |  | $428135 | $428867 |

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No additional shares of convertible preferred stock were authorized or issued during the years ended December 31, 2023 and 2024.

The significant rights, preferences, and privileges of convertible preferred stock are as follows:

***Voting***

The holders of convertible preferred stock are entitled to one vote for each share of Class A common stock into which their shares of convertible preferred stock may be converted, and the holders of the convertible preferred stock vote together (no series voting except as discussed below in relation to election of directors) on an as-converted basis.

The holders of record of the Series A, B, and C convertible preferred stock, exclusively and as separate classes, are each be entitled to elect one director of the Company for so long as at least 15,558,084, 14,139,087, and 5,792,400 shares of Series A, B, and C convertible preferred stock, respectively, remain outstanding. The holders of Class A and Class B common stock (voting together as a single class) are entitled to elect three directors. The combined holders of outstanding convertible preferred stock and common stock (voting as a single class) are entitled to elect the remaining directors.

For so long as at least 33,000,000 shares of convertible preferred stock remain outstanding, holders of convertible preferred stock, voting together as a single class on an as-converted basis, are entitled to certain protective provisions, which require a majority of holders of convertible preferred stock to approve, among other actions, a liquidation event, a change to the rights, powers or preferences of the convertible preferred stock set forth in the certificate of incorporation or bylaws, a change to the number of directors on the Board, and a declaration or payment of any dividend.

In addition, each of the Series A, B, C, D, E, and F convertible preferred stock is entitled to certain protective provisions, which require generally an approval of holders of convertible preferred stock within such series to approve, among other actions, a change to the rights, powers, or preferences of the convertible preferred stock set forth in the certificate of incorporation or bylaws and to increase or decrease the authorized number of shares, in each case, for a specific series.

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***Dividends***

The holders of outstanding convertible preferred stock are entitled to receive non-cumulative dividends, when, as, and if declared by the Board, out of any assets at the time legally available therefore, in an amount equal to 8% of the applicable original issue price per share of such convertible preferred stock in preference and priority to any declaration or payment of a distribution on common stock of the Company in such calendar year. No dividends have been declared or paid by the Board since inception.

***Liquidation preference***

In the event of any voluntary or involuntary liquidation, dissolution, or winding up of the Company, the holders of the convertible preferred stock are first to receive the greater of (a) their original issue price per share, plus any declared but unpaid dividends or (b) such amount per share as would have been payable had all shares of the given series of convertible preferred stock been converted into common stock. If the available funds are insufficient to permit full payment of each series' original issue price, the available funds will be distributed ratably in proportion to the respective amounts that would otherwise be payable if all amounts were paid in full. Any remaining available funds after payment to the holders of convertible preferred stock will be distributed to holders of common stock on a pro rata basis in proportion to the number of shares of common stock held.

***Conversion***

Shares of convertible preferred stock are convertible, at any time and at the option of the holder, into shares of Class A common stock as determined by dividing the original issue price for each series by the applicable conversion price for such series in effect at the date of conversion. Shares of convertible preferred stock automatically convert into shares of common stock upon the closing of an initial public offering; upon a qualified direct listing; or upon the closing of a merger, consolidation, or share exchange with a special purpose acquisition company, provided the aggregate proceeds from such transactions are not less than $150.0 million. As of December 31, 2023 and 2024, the applicable conversion ratio for all series of convertible preferred stock was equal to the respective original issue price.

***Antidilution protection***

The convertible preferred stock has antidilution protection. If the antidilution protection for the convertible preferred stock is triggered, the conversion price will be subject to a broad-based weighted-average adjustment to reduce dilution.

***Redemption***

As the shares of the convertible preferred stock are redeemable upon a deemed liquidation event and because the Company determined that such a deemed liquidation would be outside of its control, the convertible preferred stock is recorded at issuance date fair value and has elected to present the convertible preferred stock outside of stockholders' deficit in the convertible preferred stock section of the consolidated balance sheets. During the years ended December 31, 2023 and 2024, the Company did not adjust the carrying value of the convertible preferred stock to the deemed liquidation value of such shares as a deemed liquidation event was not probable of occurring.

***Common stock***

The Company has two classes of common stock, Class A and Class B. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Holders of Class A common stock are entitled to one vote per share on all matters to be voted upon by the common stockholders of the Company. Holders of Class B common stock are entitled to 20 votes per share on all matters to be voted on by common stockholders of the Company. Each outstanding share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock, and is also subject to automatic conversion under certain conditions. Once converted or transferred and converted into shares of Class A common stock, the Class B common stock may not be

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reissued. The Class A and Class B common stock have identical dividend and liquidation rights. As of December 31, 2024, there were 46,009,564 shares of the Class A common stock and 42,957,621 shares of the Class B common stock issued and outstanding.

**10.&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation**

***Equity incentive plan***

In 2013, the Board adopted the 2013 Equity Incentive Plan (the "2013 Plan"). The 2013 Plan provides for the granting of both incentive stock options and nonstatutory stock options to purchase Class A common stock, stock appreciation rights, restricted stock, and restricted stock units (which will be settled for Class A common stock at vesting) to the Company's employees, members of its Board and non-employee advisors. As of December 31, 2024, there were 142,046,603 shares of Class A common stock reserved for issuance under the 2013 Plan, of which 1,769,282 shares remained available for grant.

***Stock options***

Stock options granted under the 2013 Plan vest over the periods determined by the Board, generally four years, and expire no later than ten years after the grant date. In the case of incentive stock options granted to an employee who, at the time of grant, owns stock representing more than 10% of the total combined voting power of all classes of stock, the exercise price shall be no less than 110% of the fair value per share of Class A common stock on the date of the grant. For incentive stock options granted to any other employee, the per share exercise price shall be no less than 100% of the fair value per share of Class A common stock on the date of grant.

The terms of the 2013 Plan permit certain employees to exercise stock options granted prior to vesting, subject to required approvals.

A summary of stock option activity under the 2013 Plan for 2023 and 2024 is as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Number of stock options outstanding** | **Weighted-average exercise price per share** | **Weighted-average remaining contractual life (years)** | **Aggregate**<br>**intrinsic**<br>**value (in thousands)** |
| Balances as of January 1, 2023 | 43043040 | $0.80 | 6.3 | $109701 |
| &nbsp;&nbsp;&nbsp;&nbsp;Granted |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exercised | (1387378) | 0.77 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forfeited, canceled, or expired | (73125) | 0.79 |  |  |
| Balances as of December 31, 2023 | 41582537 | $0.80 | 5.6 | $97617 |
| &nbsp;&nbsp;&nbsp;&nbsp;Granted |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exercised | (862842) | 0.73 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forfeited, canceled, or expired | (176664) | 0.76 |  |  |
| Balances as of December 31, 2024 | 40543031 | $0.80 | 4.5 | $125107 |
| Vested and exercisable as of December 31, 2024 | 19712970 | $0.78 | 2.8 | $61367 |

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*Stock option valuation assumptions* 

The Company determined the valuation assumptions used in the Black-Scholes option pricing model as follows:

1.*Fair value of common stock* - Given the absence of a public trading market, the Board considered numerous objective and subjective factors to determine the fair value of common stock at each

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meeting at which awards were approved. These factors included, but were not limited to, (i) contemporaneous third-party valuations of common stock; (ii) the rights and preferences of convertible preferred stock relative to common stock; (iii) the lack of marketability of common stock; (iv) developments of the business; and (v) the likelihood of achieving a liquidity event, such as an IPO or sale of the Company, given prevailing market conditions.

2.*Expected term* - The expected term represents the period that stock-based awards are expected to be outstanding. The Company did not have sufficient historical information to develop reasonable expectations about future exercise behavior; therefore, the expected term for options issued to employees was calculated using the simplified method that takes into consideration the vesting and contractual periods of the stock option granted.

3.*Expected volatility* - The expected stock price volatility of common stock was derived from historical volatilities of a peer group of similar publicly traded companies over a period that approximates the expected term of the stock option.

4.*Risk-free interest rate* - The risk-free rate was based on the yield available on U.S. Treasury zero-coupon issues with a term that approximates the expected term of the stock option.

5.*Expected dividends* - The expected dividend yield was 0% as the Company has not paid, and does not expect to pay, dividends.

The Company did not grant any stock options in 2023 and 2024. The aggregate intrinsic value of options exercised during the years ended December 31, 2023 and 2024 was $3.6 million and $2.5 million, respectively.

*Performance options*

In March 2021, the Company granted an option to purchase 20,645,724 shares of Class A common stock (the "2021 CEO Stock Option Award") to its co-founder and Chief Executive Officer (the "CEO"). The award was granted with a service-based vesting condition, a liquidity-based vesting condition, and a market-based vesting condition. The service-based vesting condition is achieved over four consecutive annual periods following the grant date, subject to the CEO's continuous service to the Company as CEO. The liquidity-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part. The market-based vesting condition will be achieved if the value of the Company's common stock following this offering exceeds certain multiples of the Company's fair value at the grant date. In early 2025, the Company amended the 2021 CEO Stock Option Award. See Note 14 "Subsequent events" for additional information on the amendment. The following description of the estimated fair value of the 2021 CEO Stock Option Award is as of December 31, 2024, prior to this amendment.

The Company estimated the fair value of the performance options using a Monte Carlo simulation, which incorporates the market-based vesting condition into the grant-date fair value. The Company estimates the expected term based on a future exercise assumption. The weighted-average derived service period for the performance options is 5.2 years. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for zero-coupon U.S. Treasury notes. The expected stock price volatility of Class A common stock was derived from historical volatilities of a peer group of similar publicly traded

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companies over a period that approximates the expected term of the performance option. The following assumptions were used to estimate the fair value of these awards:

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| | |
|:---|:---|
| | **December 31, 2021** |
| Expected volatility | 68.0% |
| Risk-free rate | 1.5% |
| Expected dividend yield |  |
| Fair value of Class A common stock | $2.22 |

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The Company will recognize total stock-based compensation expense of $17.2 million over the requisite service period of each tranche, using the accelerated attribution method, which results in recognition of expense on a graded-vesting basis, with each vesting tranche amortized separately over its respective service period.

As of December 31, 2024, total unrecognized compensation expense related to unvested employee and non-employee stock options was approximately $17.4 million, which the Company expects to recognize over a weighted-average time period of 0.2 years.

***Restricted stock units***

RSUs vest upon the achievement of both service-based vesting conditions and liquidity event-based vesting conditions (a qualifying public offering or change in control) on or before the grant expiration date. RSUs expire seven years after the date of grant. During the years ended December 31, 2023 and 2024, the Company did not record stock-based compensation expense related to these RSUs as the liquidity event-based vesting condition had not been met and was deemed not probable of being met.

The following table summarizes the RSU activity for 2023 and 2024:

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| | | |
|:---|:---|:---|
| | **RSUs outstanding** | **Weighted-average grant date fair value per share** |
| Unvested and outstanding as of January 1, 2023 | 41514404 | $3.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Granted | 14417087 | 3.35 |
| &nbsp;&nbsp;&nbsp;&nbsp;Canceled | (6123385) | 4.15 |
| Unvested and outstanding as of December 31, 2023 | 49808106 | $3.14 |
| &nbsp;&nbsp;&nbsp;&nbsp;Granted | 23450436 | 3.78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Canceled | (3114490) | 3.65 |
| Unvested and outstanding as December 31, 2024 | 70144052 | $3.33 |

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As of December 31, 2024, there was a total of $233.8 million in unrecognized stock-based compensation expense related to outstanding RSUs that have not yet met both their service-based vesting conditions and liquidity event-based vesting conditions. If the liquidity event condition had been considered probable as of December 31, 2023 and December 31, 2024, the Company would have cumulatively recognized $84.6 million and $136.3 million, respectively, of stock-based compensation expense for all RSUs with a liquidity event-based vesting condition that had fully or partially satisfied the service-based vesting condition on that date.

***Performance RSUs***

On November 14, 2024, the Company granted a performance-based RSU award of 641,026 shares to an executive (the "2024 PRSUs"). This award was granted with a service-based vesting condition, a liquidity

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event-based vesting condition, and a market-based vesting condition. The service-based vesting condition is achieved in quarterly installments over a two-year period, subject to the executive's continuous service to the Company following satisfaction of the market-based vesting condition. The liquidity event-based vesting condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part. The market-based vesting condition will be achieved if the value of Class A common stock following this offering exceeds a certain stock price goal. In early 2025, the Company amended the 2024 PRSUs. See Note 14 "Subsequent events" for additional information on this amendment. The following description of the estimated fair value of the 2024 PRSUs is as of December 31, 2024, prior to this amendment.

The Company estimated the fair value of the 2024 PRSUs using a Monte Carlo simulation. The weighted-average derived service period for the 2024 PRSUs is 4.1 years. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for zero-coupon U.S. Treasury notes. The expected stock price volatility was derived from a leverage-adjusted peer volatility estimate, based on historical volatilities of comparable companies within the same industry and capital structure. The following assumptions were used to estimate the fair value of these awards:

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| | |
|:---|:---|
| | **December 31, 2024** |
| Expected volatility | 60.9% |
| Risk-free rate | 4.3% |
| Expected dividend yield |  |

---

The Company will recognize total stock-based compensation expense of $1.4 million over the requisite service period of each tranche, using the accelerated attribution method. However, as the RSU award liquidity events or a corporate transaction are not deemed probable until consummated, all stock-based compensation costs related to these will remain unrecognized until such an event occurs.

***Promissory notes***

Certain employees, including executives and members of the Board, Early Exercised outstanding options by issuing promissory notes equal to the exercise price. The promissory notes were issued with a term of seven or ten years and an interest rate equal to the applicable federal interest rate in the month the promissory notes were issued. On March 28, 2022, the Company amended the terms of the promissory notes for three employees. The amendment required them to pay accrued and unpaid interest on the notes up to that date, while also changing the repayment deadline to December 31, 2024, and adjusting the interest rate to 0.97%. Additionally, the Company further amended the terms of the promissory notes for the same three employees on November 30, 2024, requiring the payment of accrued and unpaid interest up to that date, with the repayment deadline extended to March 23, 2028, and the interest rate adjusted to 3.7%.

As of December 31, 2023 and 2024, promissory notes remained outstanding related to the Early Exercise of options of 12,302,033 shares of Class A common stock.

***Repurchase of Class A common stock***

During 2023, the Company repurchased 206,750 shares of Class A common stock from its stockholders, for an aggregate payment of $0.7 million. The fair value of repurchased Class A common stock of $0.7 million was recorded to accumulated deficit on the consolidated balance sheets. The repurchase price exceeded the fair value of Class A common stock and, as such, the Company recorded additional stock-based compensation expense, which is included in sales and marketing and research and development expenses. All repurchased Class A common stock were retired and are no longer outstanding.

During 2024, the Company repurchased 174,687 shares of Class A common stock from its stockholders, for an aggregate payment of $0.5 million. The fair value of repurchased Class A common stock of $0.5 million was recorded to accumulated deficit on the consolidated balance sheets. The repurchase price did

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not exceed the fair value of Class A common stock, and as such, no additional stock-based compensation expense was recognized. All repurchased shares of Class A common stock were retired and are no longer outstanding.

***Stock-based compensation expense***

Stock-based compensation expense, including Class A common stock issued upon Early Exercise of stock options in exchange for the issuance of full recourse promissory notes as discussed above, was as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Cost of revenue | $1 | $— |
| Sales and marketing | 403 | 100 |
| Research and development | 1066 |  |
| General and administrative | 1295 | 1080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total stock-based compensation expense<sup>(1)</sup> | $2765 | $1180 |

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(1)For each of the years ended December 31, 2023 and 2024, the Company capitalized $0.1 million in stock-based compensation expense for internal-use software development costs. The research and development stock-based compensation amounts are presented net of the capitalized costs.

**11.&nbsp;&nbsp;&nbsp;&nbsp;Income taxes**

Loss before income taxes consisted of the following:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| United States | $(110793) | $(156417) |
| Other | 2628 | 4184 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | $(108165) | $(152233) |

---

The components of the provision for income taxes consisted of the following:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Current |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;State | 281 | 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign | 425 | 599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current tax expense | 706 | 772 |
| Deferred |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign | (104) | (20) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax expense | (104) | (20) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | $602 | $752 |

---

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Reconciliations of the income tax at the U.S. federal statutory tax rate to the Company's effective tax rate are as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
| | **2023** | **2024** |
| Income tax at U.S. federal statutory rate | 21.0% | 21.0% |
| Change in valuation allowance | (20.8)% | (24.8)% |
| Convertible preferred stock | 0.2% | (1.7)% |
| Research and development tax credits | 0.6% | 2.3% |
| State tax, net of federal tax effect | (1.4)% | 3.2% |
| Stock-based compensation | (0.4)% | —% |
| Foreign income tax rate differential | 0.1% | —% |
| Other | 0.1% | (0.5)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Effective tax rate | (0.6)% | (0.5)% |

---

For 2024, the difference in the Company's effective tax rate and the U.S. federal statutory tax rate was primarily due to the Company's full valuation allowance on its U.S. deferred tax assets.

The Company's deferred tax assets and liabilities are related to the following:

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| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Deferred tax assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net operating loss carryforward | $104318 | $110479 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax credit carryforward | 16056 | 19262 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized research and development | 34981 | 47232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and reserves | 4315 | 5712 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | 3423 | 1511 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 38406 | 58765 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense carryforward | 9146 | 15377 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 957 | 1063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax assets | 211602 | 259401 |
| Deferred tax liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net | (2493) | (1703) |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease right-of-use assets | (1669) | (862) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred commissions | (10938) | (13799) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred device costs | (43323) | (52354) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (1846) | (1492) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deferred tax liabilities | (60269) | (70210) |
| Valuation allowance | (151213) | (189056) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net deferred tax assets | $120 | $135 |

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The Company regularly assesses the need for a valuation allowance against its deferred tax assets each quarter. In making that assessment, the Company considers both positive and negative evidence in the various jurisdictions in which it operates related to the likelihood of realization of the deferred tax assets to determine, based on the weight of available evidence, whether it is more likely than not that some or all of the deferred tax assets will not be realized. As of December 31, 2024, based on all available positive and negative evidence, primarily due to current year and cumulative losses, which is objective and verifiable, the Company has concluded that it is not more likely than not that its U.S. federal and state deferred tax

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assets will be realizable and thus maintains a full valuation allowance. The valuation allowance increased by $22.5 million and $37.8 million for 2023 and 2024, respectively.

The Company's policy with respect to its undistributed foreign subsidiaries' earnings is to consider those earnings to be indefinitely reinvested. The Company has not provided for the tax effect, if any, of limited outside basis differences of its foreign subsidiaries. The determination of the future tax consequences of the remittance of these earnings is not practicable.

As of December 31, 2024, the Company had approximately $434.8 million of federal and $350.4 million of state net operating loss carryforwards available to offset future taxable income. If not utilized, these carryforward losses will begin to expire in various amounts for federal and state tax purposes beginning in 2033 and 2025, respectively. As of December 31, 2024, the Company had approximately $17.2 million of U.S. federal research and development credits, $0.4 million of Canada research and development credits, and $10.3 million of U.S. state research and development credits. If not utilized, these credit carryforwards will begin to expire in 2033.

Utilization of the net operating loss carryforwards and credits may be subject to an annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended (the "Code"), and similar state provisions. The Company determined ownership changes, as defined under Sections 382 and 383 of the Code, occurred in the second quarter of 2015 and the second quarter of 2019 which resulted in annual limitations for net operating loss carryforwards and credits generated prior to each respective ownership change. As a result of the annual limitations, the Company determined an immaterial amount of net operating loss carryforwards and credits may expire before they can be utilized.

A reconciliation of the Company's unrecognized tax benefits are as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Beginning balance | $5743 | $5871 |
| Gross increases related to prior period tax positions |  |  |
| Gross decreases related to prior period tax positions | (1273) | (146) |
| Gross increases related to current period tax positions | 1401 | 1271 |
| Ending balance | $5871 | $6996 |

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The Company had unrecognized income tax benefits of $5.9 million and $7.0 million as of December 31, 2023 and 2024, respectively. As of December 31, 2024, the unrecognized tax benefits, if recognized, would not impact the effective tax rate. The Company's policy is to classify interest and penalties associated with unrecognized tax benefits as part of the provision for income taxes. The Company has not recorded any such interest or penalties during the years ended December 31, 2023 and 2024. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months.

The Company files income tax returns in the U.S. federal, state and foreign jurisdictions that remain open to examination. Due to U.S. net operating losses and tax credits carried forward, all tax years remain open to examination by the U.S. federal and state taxing authorities. For foreign jurisdictions, tax years ending on or after June 30, 2019 remain open to examination. The Company is not currently under income tax examination for any issues that would result in a material adjustment to the consolidated financial statements.

On August 16, 2022, the Inflation Reduction Act was signed into law in the United States. The provisions include the new Corporate Alternative Minimum Tax, an excise tax on stock buybacks, and significant tax incentives for energy and climate initiatives, all effective for tax years beginning from January 1, 2023. The provisions did not have an impact for the Company.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was signed into law in the United States. The provisions include modifications to the capitalization of domestic research and development expenses,

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limitations on deductions for interest expense, and accelerated fixed asset depreciation. The Company is evaluating the impact of OBBBA.

**12.&nbsp;&nbsp;&nbsp;&nbsp;Net loss per share, basic and diluted**

The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders. The net loss per share information is presented on a combined basis for both Class A and Class B common stock, as both classes of common shares have identical rights to dividends and liquidation. The calculation is as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands, except share and per share data)** | **2023** | **2024** |
| Numerator: |  |  |
| Net loss | $(108767) | $(152985) |
| Denominator: |  |  |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 87652608 | 88525717 |
| Net loss per share attributable to common stockholders, basic and diluted | $(1.24) | $(1.73) |

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The following table presents potentially dilutive securities that were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been antidilutive:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
| | **2023** | **2024** |
| Convertible preferred stock | 186080967 | 186080967 |
| Stock options | 25360897 | 24321391 |
| Common stock warrants | 380820 | 380820 |
| Convertible notes | 30482724 | 32996065 |
| Promissory notes | 12302033 | 12302033 |
| Total antidilutive securities | 254607441 | 256081276 |

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The following table presents contingently issuable shares that were excluded from the computation of basic and diluted net loss per share:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
| | **2023** | **2024** |
| RSUs | 49808106 | 70144052 |
| Performance options | 20645724 | 20645724 |
| Preferred warrants<sup>(1)</sup> |  | 964010 |
| Total contingently issuable shares excluded from basic and diluted net loss per share | 70453830 | 91753786 |

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(1)Preferred stock warrants were issued in November 2024 to purchase a total of $3.8 million of preferred stock. The number of shares is equal to $3.8 million divided by the Applicable Preferred Price. As the Applicable Preferred Stock has not been determined as of December 31, 2024, the Company estimated the number of shares using the most recent valuation of its common stock, which was $3.89.

**13.&nbsp;&nbsp;&nbsp;&nbsp;Segment, revenue, and geographic information**

The Company has determined that it has a single operating and reporting segment. The Chief Executive Officer serves as the CODM. The CODM evaluates the Company's performance and makes resource allocation decisions based on consolidated financial information, including net income (loss), which

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represents the Company's key measure of profitability. Net income (loss) is regularly reviewed by the CODM in assessing performance through budget-to-actual analyses, profitability reviews, and strategic resource allocation decisions, including reinvestment, operational priorities, and evaluation of potential acquisitions or expansion opportunities. Segment asset information is not used by the CODM to allocate resources.

The Company's single segment provides a subscription-based platform that integrates hardware and cloud software to assist customers with fleet management, driver safety, equipment monitoring products, as well as cost management solutions through the Company's Spend Management product.

The following table presents segment revenue, segment expenses, and net loss for the periods presented:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| Revenue | $310309 | $370450 |
| Segment expenses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Subscription-related cost of revenue<sup>(1)</sup> | 19168 | 21169 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hardware-related cost of revenue<sup>(2)</sup> | 58916 | 76904 |
| &nbsp;&nbsp;&nbsp;&nbsp;Customer support and other cost of revenue | 13077 | 13828 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 139609 | 180083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 94369 | 98716 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 62951 | 63013 |
| &nbsp;&nbsp;&nbsp;&nbsp;Litigation expenses<sup>(3)</sup> |  | 24443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Legal settlement | 1800 | 4201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease impairment and abandonment | 7433 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring | 2188 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense, net | 18963 | 40326 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 602 | 752 |
| Net loss | $(108767) | $(152985) |

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(1)Subscription-related cost of revenue primarily includes software hosting-related and data network expenses.

(2)Hardware-related cost of revenue primarily includes amortization of deferred device costs.

(3)Litigation expenses primarily include litigation fees related to certain patent infringement, trade secret misappropriation, and other claims made against the Company, which were outside of the ordinary course of business. See Note 6 "Commitments and contingencies" for further details on certain of these cases.

***Revenue by geographic area***

Revenue disaggregated by geographic area, based on the customers' location, is as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| United States | $283249 | $336852 |
| Other | 27060 | 33598 |
| Total revenue | $310309 | $370450 |

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***Long-lived assets by geographic area***

Long-lived assets by major geographic area are as follows:

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| | | |
|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** |
|<br>**(in thousands)** | **2023** | **2024** |
| United States | $17580 | $12637 |
| Other | 4616 | 5528 |
| Total long-lived assets, net | $22196 | $18165 |

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**14.&nbsp;&nbsp;&nbsp;&nbsp;Subsequent events**

The Company has evaluated subsequent events through September 2, 2025, the date the financial statements were available to be issued, and has determined that the following subsequent events require disclosure in the financial statements.

***Performance options***

On April 9, 2025, the Company amended the 2021 CEO Stock Option Award (the "Option Amendment"). Also on April 9, 2025, a total of 11,797,556 shares of Class A common stock subject to the 2021 CEO Stock Option Award were cancelled. Pursuant to the Option Amendment, for the remaining 8,848,168 shares of Class A common stock subject to the 2021 CEO Stock Option Award, the performance period end date was extended to the 10th anniversary of the date of grant, the service-based vesting condition was revised such that it will be satisfied so long as the CEO remains in service as the CEO on the date that the market-based vesting condition is achieved, and the post-termination exercise period was extended to the 10th anniversary of the date of the grant in the event of the CEO's termination without cause. As the 2021 CEO Stock Option Award has a market-based vesting condition that is not deemed probable until consummated, all stock-based compensation costs will remain unrecognized until such an event occurs.

On May 15, 2025, the Company amended the 2024 PRSUs. Pursuant to the amendment, the service-based vesting condition was revised such that it will be satisfied so long as the executive remains in service on the date that the market-based vesting condition is achieved.

***Convertible securities financing***

On May 20, 2025, the Company completed an initial closing of a convertible securities financing raising $117.8 million in cash out of a total available of $150.0 million, led by affiliated funds of an existing investor, as well as other existing investors (the "2025 Convertible Securities Financing"). The remaining $32.2 million closed in July 2025, bringing the total proceeds to $150.0 million. The convertible securities are convertible into an applicable series of capital stock upon the earlier to occur of a qualified public offering, a deemed liquidation event, an event of default under which the majority of the investors elect conversion, any voluntary or involuntary liquidation, dissolution or winding up of the Company that is not a deemed liquidation event, or May 20, 2032.

In the event of a qualified public offering conversion, the applicable series of capital stock is Class A common stock, and the convertible securities will be converted into the number of shares obtained by multiplying 1.8 by the purchase amount and dividing that balance by the price per share at which Class A common stock is issued to the public in a qualified public offering. For all other conversion events, the applicable series of capital stock is a new series of convertible preferred stock reflecting the terms of either the most recently consummated equity financing of at least $50.0 million or the then-most senior convertible preferred stock of the Company. For these other conversion events, the convertible securities will be converted into the number of shares obtained by multiplying 1.8 by the purchase amount and dividing that balance by the price per share to be received in a deemed liquidation event or, for all other conversion events, the lowest price per share at which the Company issued convertible preferred stock of

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the Company upon which the applicable securities is based. The convertible securities may also become due and payable upon certain events of default or at the election of the Company under certain specified conditions.

Beginning on the 12-month anniversary of the applicable issuance date of a convertible security, such convertible security will accrue a yield at a rate of 18% per annum, but the convertible securities are also subject to a guaranteed minimum yield of 1.8 multiplied by the purchase amount of each convertible security.

***Warrant amendment***

On May 20, 2025, the Company amended the Warrants in connection with the 2025 Convertible Securities Financing (as defined and described above) by increasing the amount the Company may be required to pay to repurchase the Warrants from $3.8 million to $4.5 million. All other terms of the Warrants agreement remained unchanged.

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***&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares***

![motivelogo1.jpg](motivelogo1.jpg)

***Class A common stock***

**Preliminary prospectus**

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| | | | |
|:---|:---|:---|:---|
| **J.P. Morgan** | **Citigroup** | **Barclays** | **Jefferies** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025

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**Part II**

**Information not required in prospectus**

**Item 13. Other expenses of issuance and distribution.**

The following table sets forth all costs and expenses to be paid by the Registrant, other than underwriting discounts and commissions, in connection with the sale of the Registrant's Class A common stock being registered hereby. All amounts shown are estimates except for the Securities and Exchange Commission ("SEC") registration fee, the Financial Industry Regulatory Authority ("FINRA") filing fee and the exchange listing fee:

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| | |
|:---|:---|
| | **Amount paid or to be paid** |
| SEC registration fee | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \* |
| FINRA filing fee | \* |
| Exchange listing fee | \* |
| Printing and engraving expenses | \* |
| Legal fees and expenses | \* |
| Accounting fees and expenses | \* |
| Transfer agent and registrar fees and expenses | \* |
| Miscellaneous expenses | \* |
| &nbsp;&nbsp;&nbsp;Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \* |

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\*To be provided by amendment.

**Item 14. Indemnification of directors and officers.**

Section 145 of the Delaware General Corporation Law (the "DGCL") authorizes a court to award, or a corporation's board of directors to grant, indemnity to directors and officers under certain circumstances and subject to certain limitations. The terms of Section 145 of the DGCL are sufficiently broad to permit indemnification under certain circumstances for liabilities, including reimbursement of expenses incurred, arising under the Securities Act of 1933, as amended (the "Securities Act").

As permitted by the DGCL, the Registrant's restated certificate of incorporation to be effective upon the closing of this offering contains provisions that eliminate the personal liability of its directors and officers for monetary damages for any breach of fiduciary duties as a director or officer, except liability for the following:

▪ any breach of the director's or officers' duty of loyalty to the Registrant or its stockholders;

▪ acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;

▪ under Section 174 of the DGCL (regarding unlawful dividends and stock purchases);

▪ any transaction from which the director or officer derived an improper personal benefit; and

▪ with respect to officers, any action by or in the right of the corporation.

As permitted by the DGCL, the Registrant's restated bylaws to be effective upon the closing of this offering, provide that:

▪ the Registrant is required to indemnify its directors and executive officers to the fullest extent permitted by the DGCL, subject to very limited exceptions;

▪ the Registrant may indemnify its other employees and agents as set forth in the DGCL;

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▪ the Registrant is required to advance expenses, as incurred, to its directors and executive officers in connection with a legal proceeding to the fullest extent permitted by the DGCL, subject to very limited exceptions; and

▪ the rights conferred in the restated bylaws are not exclusive.

Prior to closing of this offering, the Registrant intends to enter into indemnification agreements with each of its then-current directors and executive officers to provide these directors and executive officers additional contractual assurances regarding the scope of the indemnification set forth in its restated certificate of incorporation and restated bylaws and to provide additional procedural protections. There is no pending litigation or proceeding involving a director or executive officer of the Registrant for which indemnification is sought. The indemnification provisions in its restated certificate of incorporation, restated bylaws and the indemnification agreements entered into or to be entered into between the Registrant and each of its directors and executive officers may be sufficiently broad to permit indemnification of the directors and executive officers for liabilities arising under the Securities Act.

The Registrant currently carries liability insurance for its directors and officers.

Certain of the Registrant's directors are also indemnified by their employers with regard to service on the Registrant's board of directors.

In addition, the underwriting agreement filed as Exhibit 1.1 to this registration statement provides for indemnification by the underwriters of the Registrant and its officers and directors for certain liabilities arising under the Securities Act, or otherwise.

**Item 15. Recent sales of unregistered securities.**

Since September 2, 2022, the Registrant has issued and sold the following securities:

▪ In May and July 2025, the Registrant issued convertible securities to accredited investors in an aggregate principal amount of $150.0 million.

▪ In May and July 2025, the Registrant issued 90,116,424 shares of senior convertible preferred stock to accredited investors in exchange for the same number and series of shares of its convertible preferred stock exchanged by such accredited investors in connection with the offering of convertible securities.

▪ In November 2024, the Registrant issued warrants to accredited investors to purchase an aggregate number of shares of the Registrant's convertible preferred stock to be issued in a future equity financing equal to $4.5 million divided by the price per share of such convertible preferred stock at an exercise price of $0.01 per share.

▪ In October 2022, the Registrant issued 1,025,641 shares of its Series F convertible preferred stock to an accredited investor at a purchase price of $7.80 per share for an aggregate purchase price of approximately $8.0 million.

▪ The Registrant granted to its directors, officers, employees, consultants, and other service providers an aggregate of 66,111,053 restricted stock units to be settled in shares of its Class A common stock under the 2013 Plan.

Unless otherwise stated, the sales of the above securities were deemed to be exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act (or Regulation D or Regulation S promulgated thereunder), or Rule 701 promulgated under Section 3(b) of the Securities Act as transactions by an issuer not involving any public offering or pursuant to benefit plans and contracts relating to compensation as provided under Rule 701. The recipients of the securities in each of these transactions represented their intentions to acquire the securities for investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends were placed upon the stock certificates issued in these transactions.

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**Item 16. Exhibits and financial statement schedules.**

(a)Exhibits.

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description of document** |
| 1.1\* | Form of Underwriting Agreement. |
| 3.1 | Restated Certificate of Incorporation of the Registrant, as currently in effect. |
| 3.2\* | Form of Restated Certificate of Incorporation of the Registrant, to be in effect immediately prior to the closing of this offering. |
| 3.3 | Bylaws of the Registrant, as amended and currently in effect. |
| 3.4\* | Form of Restated Bylaws of the Registrant, to be in effect immediately prior to the closing of this offering. |
| 4.1\* | Form of Class A Common Stock certificate of the Registrant. |
| 4.2 | Amended and Restated Investors' Rights Agreement among the Registrant and certain holders of its capital stock, dated May 20, 2025. |
| 4.3 | Form of Amended and Restated Convertible Security between the Registrant and each of the purchasers signatory thereto. |
| 4.4 | Form of Convertible Security between the Registrant and each of the purchasers signatory thereto. |
| 4.5 | Warrant to Purchase Common Stock, dated February 5, 2016. |
| 4.6 | Warrant to Purchase Common Stock, dated August 4, 2017. |
| 5.1\* | Opinion of Fenwick & West LLP. |
| 10.1\* | Form of Indemnification Agreement between the Registrant and each of its directors and executive officers. |
| 10.2 | The Registrant's Amended and Restated 2013 Equity Incentive Plan and related form agreements. |
| 10.3\* | The Registrant's 2025 Equity Incentive Plan and related form agreements. |
| 10.4\* | The Registrant's 2025 Employee Stock Purchase Plan and related form agreements. |
| 10.5 | Offer Letter between the Registrant and Adam Block, dated October 24, 2022. |
| 10.6 | Offer Letter between the Registrant and Shu White, dated October 9, 2020. |
| 10.7\* | Form of Change of Control and Severance Agreement between the Registrant and each of its named executive officers. |
| 10.8 | Office Sublease, between the Registrant and X Corp., dated July 14, 2025. |
| 10.9\* | Credit Agreement among the Registrant and the agents and lenders party thereto, dated April 8, 2021, and the amendments, waivers, and consents thereto. |
| 10.10 | Exchange Agreement between the Registrant and Shoaib Makani, dated April 12, 2022. |
| 21.1\* | List of Subsidiaries of the Registrant. |
| 23.1\* | Consent of Deloitte & Touche LLP, independent registered public accounting firm. |
| 23.2\* | Consent of Fenwick & West LLP (included in Exhibit 5.1). |
| 24.1\* | Power of Attorney (included in the signature page to this Registration Statement on Form S-1). |
| 107\* | Filing Fee Table. |

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\*To be filed by amendment.

(b)Financial statement schedules.

All financial statement schedules are omitted because the information required to be set forth therein is not applicable or is shown in the consolidated financial statements or the notes thereto.

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**Item 17. Undertakings.**

The undersigned Registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreement certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each purchaser.

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.

The undersigned Registrant hereby undertakes that:

(a)For purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

(b)For the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

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**Signatures**

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this registration statement on Form S-1 to be signed on its behalf by the undersigned, thereunto duly authorized, in San Francisco, California, on the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; day of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2025.

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| | |
|:---|:---|
| **MOTIVE TECHNOLOGIES, INC.** | **MOTIVE TECHNOLOGIES, INC.** |
| By: |  |
|  | Shoaib Makani |
|  | Chief Executive Officer |

---

**Power of attorney**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Shoaib Makani and Chirag Shah, and each of them, as his or her true and lawful attorneys-in-fact, proxies, and agents, each with full power of substitution, for him in any and all capacities, to sign any and all amendments to this registration statement (including post-effective amendments or any abbreviated registration statement and any amendments thereto filed pursuant to Rule 462(b) increasing the number of securities for which registration is sought), and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact, proxies, and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact, proxies, and agents, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

------

Pursuant to the requirements of the Securities Act of 1933, this registration statement on Form S-1 has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
|  | Chief Executive Officer and Director<br>*(Principal Executive Officer)* | , 2025 |
| Shoaib Makani | Chief Executive Officer and Director<br>*(Principal Executive Officer)* | , 2025 |
|  | Chief Financial Officer<br>*(Principal Financial Officer)* | , 2025 |
| Chirag Shah | Chief Financial Officer<br>*(Principal Financial Officer)* | , 2025 |
|  | Chief Accounting Officer<br>*(Principal Accounting Officer)* | , 2025 |
| Derek Mernagh | Chief Accounting Officer<br>*(Principal Accounting Officer)* | , 2025 |
|  | Director | , 2025 |
| Somesh Dash | Director | , 2025 |
|  | Director | , 2025 |
| Dana Evan | Director | , 2025 |
|  | Director | , 2025 |
| Ilya Fushman | Director | , 2025 |
|  | Director | , 2025 |
| Obaid Khan | Director | , 2025 |
|  | Director | , 2025 |
| Alexander Niehenke | Director | , 2025 |
|  | Director | , 2025 |
| Aaron Schildkrout | Director | , 2025 |

---

## Exhibit 3.1

**Exhibit 3.1**

**MOTIVE TECHNOLOGIES, INC.** 

**RESTATED CERTIFICATE OF INCORPORATION**

(Pursuant to Sections 242 and 245 of the

General Corporation Law of the State of Delaware)

Motive Technologies, Inc., a corporation organized and existing under and by virtue of the provisions of the General Corporation Law of the State of Delaware (the "***General Corporation Law***"), does hereby certify as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The name of this corporation is Motive Technologies, Inc. This corporation was originally incorporated pursuant to the General Corporation Law on March 19, 2013 under the name Keep Truckin, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors of this corporation duly adopted resolutions proposing to amend and restate the Restated Certificate of Incorporation of this corporation, declaring said amendment and restatement to be advisable and in the best interests of this corporation and its stockholders, and authorizing the appropriate officers of this corporation to solicit the consent of the stockholders therefor, which resolution setting forth the proposed amendment and restatement is as follows.

RESOLVED, that the Restated Certificate of Incorporation of this corporation be amended and restated in its entirety to read as set forth on <u>Exhibit A</u> attached hereto and incorporated herein by this reference.

<u>Exhibit A</u> referred to in the resolution above is attached hereto as <u>Exhibit A</u> and is hereby incorporated herein by this reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;This Restated Certificate of Incorporation was approved by the holders of the requisite number of shares of this corporation in accordance with Section 228 of the General Corporation Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;This Restated Certificate of Incorporation, which restates and integrates and further amends the provisions of this corporation's Restated Certificate of Incorporation, has been duly adopted in accordance with Sections 242 and 245 of the General Corporation Law.

**IN WITNESS WHEREOF,** this Restated Certificate of Incorporation has been executed by a duly authorized officer of this corporation on this May 19, 2025.

---

| | |
|:---|:---|
| By: | /s/ Shoaib Makani |
|  | Shoaib Makani |
|  | Chief Executive Officer |

---

------

**<u>EXHIBIT A</u>**

**MOTIVE TECHNOLOGIES, INC.** 

**RESTATED CERTIFICATE OF INCORPORATION**

**<u>ARTICLE I: NAME</u>.**

The name of this corporation is Motive Technologies, Inc. (the "***Corporation***").

**<u>ARTICLE II: REGISTERED OFFICE</u>**.

The address of the registered office of the Corporation in the State of Delaware is 3500 South DuPont Highway, in the City of Dover, County of Kent, 19901. The name of its registered agent at such address is Incorporating Services, Ltd.

**<u>ARTICLE III: PURPOSE</u>**.

The nature of the business or purposes to be conducted or promoted is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law.

**<u>ARTICLE IV: AUTHORIZED SHARES</u>**.

The total number of shares of all classes of stock which the Corporation shall have authority to issue is 898,923,958. The Corporation is authorized to issue two classes of stock to be designated as Common Stock and Preferred Stock. The total number of shares of Common Stock authorized to be issued is 487,447,030 shares, which shall be divided into the following series: (a) one series comprised of 417,937,962 shares and denominated as Class A Common Stock, $0.0001 par value per share ("***Class A Common Stock***") and (b) one series comprised of 69,509,068 shares and denominated as Class B Common Stock, $0.0001 par value per share ("***Class B Common Stock***" and together with the Class A Common Stock, the "***Common Stock***"). The total number of shares of Preferred Stock, $0.0001 par value per share ("***Preferred Stock***"), authorized to be issued is 411,476,928 shares. As of the Effective Time, 62,247,999 shares of the authorized Preferred Stock of the Corporation are hereby designated "***Series A Preferred Stock***", 49,950,141 shares of the authorized Preferred Stock of the Corporation are hereby designated "***Series B Preferred Stock***", 23,169,603 shares of the Corporation are hereby designated "***Series* C *Preferred Stock***", 24,431,541 shares of the Corporation are hereby designated "***Series D Preferred Stock***", 13,887,900 shares of the Corporation are hereby designated "***Series E Preferred Stock***", 32,051,280 shares of the Corporation are hereby designated "***Series F Preferred Stock***", 62,247,999 shares of the authorized Preferred Stock of the Corporation are hereby designated "***Series A Senior Preferred Stock***" (together with the Series A Preferred Stock, the "***Series A Preferred***"), 49,950,141 shares of the authorized Preferred Stock of the Corporation are hereby designated "***Series B Senior Preferred Stock***" (together with the Series B Preferred Stock, the "***Series B Preferred***"), 23,169,603 shares of the Corporation are hereby designated "***Series* C *Senior Preferred Stock***" (together with the

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Series C Preferred Stock, the "***Series* C *Preferred***"), 24,431,541 shares of the Corporation are hereby designated "***Series D Senior Preferred Stock***" (together with the Series D Preferred Stock, the "***Series D Preferred***"), 13,887,900 shares of the Corporation are hereby designated "***Series E Senior Preferred Stock***" (together with the Series E Preferred Stock, the "***Series E Preferred***"), and 32,051,280 shares of the Corporation are hereby designated "***Series F Senior Preferred Stock***" (together with the Series F Preferred Stock, the "***Series F Preferred***"). The Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock, the Series E Preferred Stock, and the Series F Preferred Stock may collectively be referred to as the "***Existing Preferred Stock***". The Series A Senior Preferred Stock, the Series B Senior Preferred Stock, the Series C Senior Preferred Stock, the Series D Senior Preferred Stock, the Series E Senior Preferred Stock, and the Series F Senior Preferred Stock may collectively be referred to as the "***Senior Preferred Stock***".

The following is a statement of the designations and the rights, powers and privileges, and the qualifications, limitations or restrictions thereof, in respect of each class of capital stock of the Corporation.

**A.&nbsp;&nbsp;&nbsp;&nbsp;COMMON STOCK**

Except as provided elsewhere in this Restated Certificate of Incorporation (as amended from time to time, this "***Restated Certificate***"), the rights, preferences, privileges, restrictions and other matters relating to the Class A Common Stock and Class B Common Stock are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;"***Approved Designee***" shall mean a person or persons who is or are entitled to exercise Voting Control with respect to shares of Class B Common Stock following the death or Incapacity of the Founder pursuant to an agreement entered into between the Founder and some person or persons, and who is approved by a majority of the Independent Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;"***Board of Directors***" means the board of directors of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;"***Cause for Termination***" means (i) the Founder's conviction or plea of nolo contendere to any felony or crime of moral turpitude; (ii) act of fraud by Founder against the Corporation or a parent or subsidiary of the Corporation; (iii) unauthorized use or disclosure by Founder of any proprietary information or trade secrets of the Corporation or a parent or subsidiary of the Corporation; (iv) gross negligence or willful misconduct in the performance of Founder's duties that has a material adverse effect on the Corporation or a parent or subsidiary of the Corporation; and/or (v) violation of the Corporation's anti-discrimination and anti-harassment policies (as determined by the Board of Directors or a committee thereof in its sole concurrent discretion).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;"***Disposition Control***" means, with respect to a share of Class B Common Stock, the exclusive power to direct any sale, assignment, transfer, conveyance hypothecation or other transfer or disposition, directly or indirectly, of such share.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;"***Entity***" means any corporation, partnership, limited liability company or other legal entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6&nbsp;&nbsp;&nbsp;&nbsp;"***Family Member***" means with respect to any natural person, the spouse, ex-spouse, domestic partner, lineal (including by adoption) descendant or antecedent, brother or sister, lineal (including by adoption) descendant of a brother or sister, the adopted child or adopted grandchild, or the spouse or domestic partner of any child, adopted child, grandchild or adopted grandchild of such individual.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7&nbsp;&nbsp;&nbsp;&nbsp;"***Final Conversion Date***" shall mean the earliest to occur of any of the following: (a) 5:00 p.m. in New York City, New York on the first Trading Day following the six (6) month anniversary of the death or Incapacity of the Founder; (b) the date fixed by the Board of Directors that is no less than 61 days and no more than 180 days following the date that the number of shares of Class B Common Stock beneficially owned by the Founder and his Permitted Entities and Permitted Transferees is less than 50% of the number of shares of Class B Common Stock beneficially owned by the Founder and his Permitted Entities and Permitted Transferees at 11:59 p.m. Eastern Time on the date of a Qualified Listing Transaction (the "***Measurement Date***" and, the number of shares of Class B Common Stock held on such date, the "***Pre-Listing Ownership***") provided, however, that if a Separation Event occurs following the Measurement Date, no Final Conversion Event pursuant to this Section l.7(b) shall occur until the Founder and his Permitted Entities and Permitted Transferees have, following the Separation Event, Transferred a number of shares of Class B Common Stock equal to the greater of (i) the number that would result in the Founder beneficially owning less than 50% of the Pre-Listing Ownership and (ii) the number determined by multiplying (a) the number of shares of Class B Common Stock held by the Founder immediately prior to the Separation Event (the "***Pre-Separation Ownership***") by (b) a fraction (1) the numerator of which is the difference between (x) the Pre-Separation Ownership and (y) 50% of the Pre-Listing Ownership and (2) the denominator of which is the Pre-Listing Ownership; (c) the date and/or time specified by the holders of a majority of the then outstanding shares of Class B Common Stock (which may be determined based upon the occurrence of a specified event); (d) the Separation Date; (e) the date that Founder's employment with the Corporation is terminated for Cause for Termination; and (f) the date on which Founder Competition has occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8&nbsp;&nbsp;&nbsp;&nbsp;"***Founder***" means Shoaib Makani, an individual.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9&nbsp;&nbsp;&nbsp;&nbsp;"***Founder Competition***" means the Founder's creation, formation or incorporation of, or employment as the chief executive officer or an equivalent executive position of, an Entity that the Board reasonably determines to compete, directly or indirectly, with the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10&nbsp;&nbsp;&nbsp;&nbsp;"***Incapacity***" means, with respect to an individual, that such individual is incapable of managing his or her financial affairs under the criteria set forth in the applicable probate code or similar provision of applicable law that can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months as determined by a licensed medical practitioner selected by the Board of Directors. In the event of a dispute regarding whether an individual has suffered an Incapacity, no Incapacity

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of such individual will be deemed to have occurred unless and until an affirmative ruling regarding such Incapacity has been made by a court of competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11&nbsp;&nbsp;&nbsp;&nbsp;"***Independent Directors***" means the members of the Board of Directors designated as independent directors in accordance with the requirements of the New York Stock Exchange, the Nasdaq Stock Market or any national stock exchange under which the Corporation's equity securities are listed for trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12&nbsp;&nbsp;&nbsp;&nbsp;"***Parent***" of an Entity means any Entity that directly or indirectly owns or controls a majority of the voting power of the voting securities or interests of such Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13&nbsp;&nbsp;&nbsp;&nbsp;"***Permitted Entity***" means any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13.1&nbsp;&nbsp;&nbsp;&nbsp;a trust for the benefit of any person so long as the Founder directly, or indirectly through one or more other Permitted Entities, has Disposition Control and Voting Control with respect to the shares of Class B Common Stock held by such trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13.2&nbsp;&nbsp;&nbsp;&nbsp;a trust under the terms of which the Founder has retained a "qualified interest" within the meaning of §2702(b) of the Internal Revenue Code of 1986 (as amended, the "***Internal Revenue Code***") or a reversionary interest so long as the Founder has Disposition Control and Voting Control with respect to the shares of Class B Common Stock held by such trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13.3&nbsp;&nbsp;&nbsp;&nbsp;a trust for the benefit of one or more of (a) the Founder, (b) a Family Member (as defined above) of the Founder, (c) a Permitted Entity or (d) a charitable organization, foundation or similar Entity, provided the trustee of such trust is one or more of (i) the Founder, (ii) a Family Member of the Founder, (iii) a professional in the business of providing trustee services, including private professional fiduciaries, trust companies, accounting, legal or financial advisors, or bank trust departments or (iv) a member of the Board of Directors, an executive officer of the Corporation, a private banker at a nationally or internationally recognized financial institution or a legal advisor or certified public accountant of the Founder, in each case, so long as such person is approved by a majority of the members of the Board of Directors other than the Founder (if the Founder is serving as a member of the Board of Directors), provided, that any such person described in clauses (i), (ii), (iii) or (iv) of the foregoing is subject to appointment and removal solely by the Founder (directly or indirectly through a Permitted Entity) or a Permitted Entity (a "***Qualified Trustee***"); provided that Disposition Control and Voting Control over shares of Class B Common Stock held by such trust is at all times held by one of(x)the Qualified Trustee, (y) the Founder or (z) a Permitted Entity, and if at any time (A) the Founder or a Permitted Entity or (B) the Qualified Trustee does not have Disposition Control and Voting Control with respect to the shares of Class B Common Stock held by such trust, then each share of Class B Common Stock then held by such trust shall automatically convert into one (1) fully paid and nonassessable share of Class A Common Stock; and provided, further, in the event a Qualified Trustee resigns as trustee, or becomes ineligible to be a Qualified Trustee, or otherwise ceases to serve as a Qualified Trustee, the Founder or Permitted Entity, as applicable, shall have sixty (60) days to appoint a replacement Qualified

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Trustee before such trust is no longer a Permitted Entity and any shares of Class B Common Stock held by such trust shall be automatically converted into shares of Class A Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13.4&nbsp;&nbsp;&nbsp;&nbsp;a trust under the terms of which the Founder has the power to revest in the Founder title to the trust property, if such power is exercisable solely by the Founder without the approval or consent of any other person or with the consent of a "related or subordinate party" within the meaning of §672(c) of the Internal Revenue Code, provided that Disposition Control and Voting Control over shares of Class B Common Stock held by such trust is at all times held by one of (a) the Qualified Trustee, (b) the Founder or (c) a Permitted Entity; and provided, in the event a Qualified Trustee resigns as trustee, or becomes ineligible to be a Qualified Trustee, or otherwise ceases to serve as a Qualified Trustee, the Founder or Permitted Entity, as applicable, shall have sixty (60) days to appoint a replacement Qualified Trustee before such trust is no longer a Permitted Entity and any shares of Class B Common Stock held by such trust shall be automatically converted into shares of Class A Common Stock. A trust satisfying the conditions of Section 1.13.3 or this Section 1.13.4 is referred to herein as a "***Qualified Trust***";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13.5&nbsp;&nbsp;&nbsp;&nbsp;an Individual Retirement Account, as defined in Section 408(a) of the Internal Revenue Code, or a pension, profit sharing, stock bonus or other type of plan or trust of which the Founder is a participant or beneficiary and which satisfies the requirements for qualification under Section 401 of the Internal Revenue Code; provided that in each case the Founder has Disposition Control and Voting Control with respect to the shares of Class B Common Stock held in such account, plan or trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13.6&nbsp;&nbsp;&nbsp;&nbsp;a charitable or social welfare organization, foundation or similar Entity organized and operated primarily for social welfare, religious, scientific, literary, educational or charitable purposes (a "***Qualified Exempt Organization***") so long as the Founder, directly, or indirectly through one or more other Permitted Entities, a Qualified Trustee of a Qualified Trust, or a person who would be a Qualified Trustee if appointed with respect to a Qualified Trust, retains Disposition Control and Voting Control with respect to the shares of Class B Common Stock held by such Qualified Exempt Organization (it being understood that the Founder shall be deemed for all purposes hereof to retain Disposition Control and Voting Control with respect to the shares of Class B Common Stock held of record by such Qualified Exempt Organization as long as the Founder, a Permitted Entity, or a Qualified Trustee of a Qualified Trust, or a person who would be a Qualified Trustee if appointed with respect to a Qualified Trust, has the right to, directly or indirectly, elect and remove such number of the members of the board of directors, managers or other similar persons in a Qualified Exempt Organization who, collectively, have sufficient voting or other power to direct or exercise the Voting Control and Disposition Control of the shares of Class B Common Stock held of record by such Qualified Exempt Organization); provided such Transfer does not involve any payment of cash, securities, property or other consideration (other than an interest in such Qualified Exempt Organization) to the Founder or such Permitted Entity, as applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13.7&nbsp;&nbsp;&nbsp;&nbsp;any Entity (each, a "***Founder Entity***") in which the Founder, directly, or indirectly through one or more Permitted Entities, or a Qualified Trustee of a

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Qualified Trust, owns or controls shares, membership interests or other voting interests with sufficient voting control in the Entity, or otherwise has legally enforceable rights, such that the Founder retains Disposition Control and Voting Control with respect to the shares of Class B Common Stock held of record by such Founder Entity (it being understood that the Founder shall be deemed for all purposes hereof to retain Disposition Control and Voting Control with respect to the shares of Class B Common Stock held of record by such Founder Entity as long as the Founder, a Permitted Entity, or a Qualified Trustee of a Qualified Trust has the right to, directly or indirectly, elect and remove such number of the members of the board of directors, managers or other similar persons in a Founder Entity who have sufficient voting or other power to direct or exercise the Voting Control and Disposition Control of the shares of Class B Common Stock held of record by such Founder Entity).

For the sake of clarity, in this Section 1.13, the Founder will be deemed to have Disposition Control and Voting Control over shares of Class B Common Stock held by a person if a Permitted Entity or, in the case of a Qualified Trust, a Qualified Trustee has Disposition Control and Voting Control over such shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14&nbsp;&nbsp;&nbsp;&nbsp;"***Permitted Transfer***" means, and is restricted to, any Transfer of a share of Class B Common Stock:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14.1&nbsp;&nbsp;&nbsp;&nbsp;by a Qualified Stockholder, by any Qualified Stockholder's Permitted Entities or by the Founder's Permitted Transferees as a result of or in connection with the Founder's death or Incapacity, (a) to the Founder's Family Members or any Qualified Stockholder, or (b) to an Approved Designee or (c) in connection with the Founder's death, to the Founder's estate or heirs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14.2&nbsp;&nbsp;&nbsp;&nbsp;by a Qualified Stockholder who is a natural person (including a natural person serving in a trustee capacity with regard to a trust for the benefit of himself or herself and/or his or her Family Members), to the trustee of a Permitted Entity that is a trust of such Qualified Stockholder or to such Qualified Stockholder in his or her individual capacity or as a trustee of a Permitted Entity that is a trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14.3&nbsp;&nbsp;&nbsp;&nbsp;by the trustee of a Permitted Entity that is a trust of a Qualified Stockholder, to such Qualified Stockholder, the trustee of any other Permitted Entity that is a trust of such Qualified Stockholder or any Permitted Entity of such Qualified Stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14.4&nbsp;&nbsp;&nbsp;&nbsp;by a Qualified Stockholder to any Permitted Entity of such Qualified Stockholder; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14.5&nbsp;&nbsp;&nbsp;&nbsp;by a Permitted Entity of a Qualified Stockholder to such Qualified Stockholder or any other Permitted Entity of, or the trustee of a Permitted Entity that is a trust of, such Qualified Stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15&nbsp;&nbsp;&nbsp;&nbsp;"***Permitted Transferee***" means a transferee of shares of Class B Common Stock received in a Transfer that constitutes a Permitted Transfer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16&nbsp;&nbsp;&nbsp;&nbsp;"***Qualified Stockholder***" means (i) the Founder and (ii) a Permitted Transferee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17&nbsp;&nbsp;&nbsp;&nbsp;"***Separation Date***" means the date that the Founder no longer provides services to the Corporation as either the chief executive officer or a member of the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.18&nbsp;&nbsp;&nbsp;&nbsp;"***Separation Event***" means the finalization of a negotiated divorce settlement or a qualified domestic relations settlement pursuant to which shares of Class B Common Stock are transferred, assigned, or conveyed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19&nbsp;&nbsp;&nbsp;&nbsp;"***Trading Day***" means any day on which the New York Stock Exchange, the Nasdaq Stock Market, or any national stock exchange under which the Corporation's equity securities are listed for trading, is open for trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20&nbsp;&nbsp;&nbsp;&nbsp;"***Transfer***" of a share of Class B Common Stock means any sale, assignment, transfer, conveyance, hypothecation or other transfer or disposition of such share or any legal or beneficial interest in such share, whether or not for value and whether voluntary or involuntary or by operation of law, including, without limitation, the transfer of, or entering into a binding agreement with respect to, the power to vote or direct the voting, directly or indirectly, of such share by proxy, voting agreement or otherwise; provided, however, that the following shall not be considered a "Transfer" within the meaning of this Article IV:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20.1&nbsp;&nbsp;&nbsp;&nbsp;the granting of a revocable proxy to officers or directors of the Corporation at the request of the Board of Directors in connection with (i) actions to be taken at an annual or special meeting of stockholders or (ii) any other person with specific direction to vote such shares of Class B Common Stock as directed by the holder of such shares, without discretion, in connection with actions to be taken at an annual or special meeting of stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20.2&nbsp;&nbsp;&nbsp;&nbsp;the existence of any proxy granted prior to the Effective Time or the amendment or expiration of any such proxy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20.3&nbsp;&nbsp;&nbsp;&nbsp;entering into a voting trust, agreement or arrangement (with or without granting a proxy) (A) solely with stockholders who are holders of Class B Common Stock that (a) is disclosed either in a Schedule 13D filed with the Securities and Exchange Commission or in writing to the Secretary of the Corporation, (b) either has a term not exceeding one year or is terminable by the holder of the shares subject thereto at any time and (c) does not involve any payment of cash, securities, property or other consideration to the holder of the shares subject thereto other than the mutual promise to vote shares in a designated manner or (B) that has been approved by the Board of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20.4&nbsp;&nbsp;&nbsp;&nbsp;the pledge of shares of Class B Common Stock by a stockholder or a Permitted Entity with respect to such stockholder that creates a mere security interest in such shares pursuant to a bona fide loan or indebtedness transaction for so long as such stockholder or Permitted Entity, as the case may be, continues to exercise Voting Control over such pledged shares; provided, however, that a foreclosure on such shares or other similar action by the

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pledgee shall constitute a "Transfer" unless such foreclosure or similar action qualifies as a "Permitted Transfer"; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20.5&nbsp;&nbsp;&nbsp;&nbsp;entering into, or reaching an agreement, arrangement or understanding regarding, a support or similar voting or tender agreement (with or without granting a proxy) in connection with a Deemed Liquidation Event (defined below) or other transaction that in any case has been approved by the Board of Directors.

A "***Transfer***" shall also be deemed to have occurred with respect to a share of Class B Common Stock beneficially held by (i) a Permitted Transferee on the date that such Permitted Transferee ceases to meet the qualifications to be a Permitted Transferee of the Qualified Stockholder who effected the Transfer of such shares to such Permitted Transferee, or (ii) an Entity that is a Qualified Stockholder, if there occurs a Transfer on a cumulative basis, from and after the Effective Time, of a majority of the voting power of the voting securities of such Entity or any Parent of such Entity, other than a Transfer to parties that were, as of the Effective Time, holders of voting securities of any such Entity or Parent of such Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20.6&nbsp;&nbsp;&nbsp;&nbsp;"***Voting Control***" means, with respect to a share of Class B Common Stock, the exclusive power to vote or direct the voting, directly or indirectly, of such share by proxy, voting agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights Relating To Dividends, Subdivisions and Combinations</u>**. The dividend rights of the holders of the Common Stock are subject to and qualified by the rights, powers and privileges of the holders of the Preferred Stock set forth herein. If the Corporation in any manner subdivides or combines (including by reclassification) the outstanding shares of Class A Common Stock or Class B Common Stock, then the outstanding shares of all Common Stock will be subdivided or combined in the same proportion and manner. Upon the completion of the payment of accrued and unpaid dividends or any distribution to the holders of the Preferred Stock, the Corporation may declare or pay any dividend or make any distribution to the holders of Class A Common Stock or Class B Common Stock payable in securities of the Corporation only if the same dividend or distribution with the same record date and payment date shall be declared and paid on all shares of Common Stock (unless different treatment of the shares of each such series is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and a majority of the outstanding shares of Class B Common Stock, each voting as separate series); provided, however, that (i) dividends or other distributions payable in shares of Class A Common Stock or rights to acquire shares of Class A Common Stock may be declared and paid to the holders of Class A Common Stock without the same dividend or distribution being declared and paid to the holders of the Class B Common Stock if, and only if, a dividend payable in shares of Class B Common Stock, or rights to acquire shares of Class B Common Stock, as applicable, is declared and paid to the holders of Class B Common Stock at the same rate and with the same record date and payment date; and (ii) dividends or other distributions payable in shares of Class B Common Stock or rights to acquire shares of Class B Common Stock may be declared and paid to the holders of Class B Common Stock without the same dividend or distribution being declared and paid to the holders of the Class A Common Stock if, and only if, a dividend payable in shares of Class A Common Stock,

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or rights to acquire shares of Class A Common Stock, as applicable, is declared and paid to the holders of Class A Common Stock at the same rate and with the same record date and payment date (and provided that any dividend or other distribution paid in accordance with this proviso shall not require any approval of holders of Class A Common Stock or Class B Common Stock).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Liquidation Rights</u>**. In the event of a Deemed Liquidation Event, upon the completion of the distributions required with respect to any Senior Preferred Stock pursuant to Section B.2.1, Part B of Article IV and Existing Preferred Stock pursuant to Section B.2.2, Part B of Article IV that may then be outstanding, the remaining funds and assets available for distribution shall be distributed on an equal priority, pro rata basis to the holders of Class A Common Stock and Class B Common Stock, unless different treatment of the shares of each such series is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and a majority of the outstanding shares of Class B Common Stock, each voting as a separate series; provided that, with respect to any securities available for distribution, the holders of Class B Common Stock may receive securities having twenty times the voting power of any securities available for distribution to the holders of a share of Class A Common Stock without approval of the holders of the Class A Common Stock or Class B Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting Rights</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Class A Common Stock</u>. Each holder of shares of Class A Common Stock shall be entitled to one (1) vote for each share thereof held at all meetings of stockholders (and written actions in lieu of meetings).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Class B Common Stock</u>. Each holder of shares of Class B Common Stock shall be entitled to twenty (20) votes for each share thereof held at all meetings of stockholders (and written actions in lieu of meetings).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting Generally</u>. Unless required by law, there shall be no cumulative voting. The number of authorized shares of Common Stock (including any series thereof) may be increased or decreased (but not below the number of shares thereof then outstanding) by (in addition to any vote of the holders of one or more series of Preferred Stock that may be required by the terms of this Restated Certificate) the affirmative vote of the holders of shares of capital stock of the Corporation representing a majority of the votes represented by all outstanding shares of capital stock of the Corporation entitled to vote (subject to Section 3.3 of Part B of this Article IV), irrespective of the provisions of Section 242(b)(2) of the General Corporation Law and without a separate class vote of the holders of the Common Stock (or any series thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Class B Common Stock Protective Provisions</u>. Notwithstanding anything herein to the contrary, so long as any shares of Class B Common Stock remain outstanding, the Corporation shall not, without the approval by vote or written consent of the holders of a majority of the outstanding shares Class B Common Stock, voting together as a separate series,

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directly or indirectly, or whether by amendment, or through merger, recapitalization, consolidation or otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.1&nbsp;&nbsp;&nbsp;&nbsp;amend, alter, or repeal any provision of the Restated Certificate or the Bylaws of the Corporation in a manner that adversely modifies the voting, conversion or other powers, preferences, or other special rights or privileges, or restrictions of the Class B Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.2&nbsp;&nbsp;&nbsp;&nbsp;reclassify any outstanding shares of Class A Common Stock into shares having rights as to dividends or liquidation that are senior to the Class B Common Stock or the right to more than one vote for each share thereof or make any amendment or change to increase the number of votes each holder of Class A Common Stock is entitled to for each share thereof held;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.3&nbsp;&nbsp;&nbsp;&nbsp;authorize, or issue any shares of, any class or series of capital stock of the Corporation (other than Class B Common Stock) having the right to more than one (1) vote per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.4&nbsp;&nbsp;&nbsp;&nbsp;issue any additional shares of Class B Common Stock or other securities convertible into shares of Class B Common Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.5&nbsp;&nbsp;&nbsp;&nbsp;consummate or agree to consummate a Deemed Liquidation Event in which the Class B Common Stock and Class A Common Stock do not receive Equivalent Consideration paid pursuant to Section 3 of Part A of Article IV. "***Equivalent Consideration***" shall mean, with respect to the Class A Common Stock or the Class B Common Stock, the same consideration paid or otherwise distributed in respect of the Class B Common Stock or the Class A Common Stock, respectively; provided, however, that in the event that consideration is paid in capital stock or other securities of another entity, such securities need not be identical with respect to voting rights in order to be Equivalent Consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Optional Conversion</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Optional Conversion of the Class B Common Stock</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.1&nbsp;&nbsp;&nbsp;&nbsp;At the option of the holder thereof, each share of Class B Common Stock shall be convertible, at any time or from time to time, into one fully paid and nonassessable share of Class A Common Stock as provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.2&nbsp;&nbsp;&nbsp;&nbsp;Each holder of Class B Common Stock who elects to convert the same into shares of Class A Common Stock shall surrender the certificate or certificates therefor (if any), duly endorsed, at the office of the Corporation or any transfer agent for the Class B Common Stock, and shall give written notice to the Corporation at such office that such holder elects to convert the same and shall state therein the number of shares of Class B Common Stock being converted. Such conversion shall be deemed to have been made immediately prior to 5:00 p.m. in New York City, New York on the date of such surrender of the certificate or certificates representing the shares of Class B Common Stock to be converted, or, if the shares are

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uncertificated, immediately prior to 5:00 p.m. in New York City, New York on the date that the holder delivers notice of such conversion to the Corporation's transfer agent and the person entitled to receive the shares of Class A Common Stock issuable upon such conversion shall be treated for all purposes as the record holder of such shares of Class A Common Stock at such time; provided that if a later effective time and/or date is specified in the notice of election to convert, the conversion shall be deemed to have occurred at such later effective time and/or date, including a time and/or date determined upon the happening of an event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Automatic Conversion</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Automatic Conversion of the Class B Common Stock</u>. Each share of Class B Common Stock shall automatically be converted into one fully paid and nonassessable share of Class A Common Stock upon a Transfer, other than a Permitted Transfer, of such share of Class B Common Stock. Such conversion shall occur automatically without the need for any further action by the holder of such shares and whether or not the certificates representing such shares (if any) are surrendered to the Corporation or its transfer agent; provided, however, that the Corporation shall not be obligated to issue certificates evidencing the shares of Class A Common Stock issuable upon such conversion unless the certificates evidencing such shares of Class B Common Stock are either delivered to the Corporation or its transfer agent as provided below, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates. Upon the occurrence of automatic conversion of any shares of Class B Common Stock pursuant to this Section 6.1, the holder of Class B Common Stock so converted shall surrender the certificates representing such shares (if any) at the office of the Corporation or any transfer agent for the Class A Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Final Conversion</u>. On the Final Conversion Date, each issued share of Class B Common Stock shall automatically, without any further action, convert into one share of Class A Common Stock. Following the Final Conversion Date, such shares shall be retired and may not be reissued and the Corporation may no longer issue any other shares of Class B Common Stock Such conversion shall occur automatically without the need for any further action by the holders of such shares and whether or not the certificates representing such shares (if any) are surrendered to the Corporation or its transfer agent; provided, however, that the Corporation shall not be obligated to issue certificates evidencing the shares of Class A Common Stock issuable upon such conversion unless the certificates evidencing such shares of Class B Common Stock are either delivered to the Corporation or its transfer agent as provided below, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates. Upon the occurrence of such automatic conversion of the Class B Common Stock, the holders of Class B Common Stock so converted shall surrender the certificates representing such shares (if any) at the office of the Corporation or any transfer agent for the Class A Common Stock.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedures</u>. The Corporation may, from time to time, establish such policies and procedures relating to the conversion of Class B Common Stock to Class A Common Stock and the general administration of this two series of Common Stock structure, including the issuance of stock certificates (or the establishment of book-entry positions) with respect thereto, as it may deem reasonably necessary or advisable, and may from time to time request that holders of shares of Class B Common Stock furnish certifications, affidavits or other proof to the Corporation as it deems necessary to verify the ownership of Class B Common Stock and to confirm that a conversion to Class A Common Stock has not occurred. A determination, in good faith, by the Board as to whether a Transfer results in a conversion to Class A Common Stock shall be conclusive and binding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Immediate Effect</u>. In the event of a conversion of shares of Class B Common Stock to shares of Class A Common Stock pursuant to this Section 6 of Part A of Article IV, such conversion(s) shall be deemed to have been made at the time that the Transfer of shares occurred or immediately upon the Final Conversion Date, as applicable. Upon any conversion of Class B Common Stock to Class A Common Stock, all rights of the holder of shares of Class B Common Stock shall cease and the person or persons in whose names or names the certificate or certificates (or book-entry position(s)) representing the shares of Class A Common Stock are to be issued shall be treated for all purposes as having become the record holder or holders of such shares of Class A Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Redemption</u>**. The Common Stock is not redeemable at the option of the holder thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Reservation of Stock Issuable Upon Conversion</u>**. The Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Class A Common Stock, solely for the purpose of effecting the conversion of the shares of the Class B Common Stock, as applicable, such number of its shares of Class A Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Class B Common Stock; and if at any time the number of authorized but unissued shares of Class A Common Stock shall not be sufficient to effect the conversion of all then-outstanding shares of Class B Common Stock, as applicable, the Corporation will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Class A Common Stock to such numbers of shares as shall be sufficient for such purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Prohibition on Reissuance of Shares</u>**. Shares of Class B Common Stock that are acquired by the Corporation for any reason (whether by repurchase, upon conversion, or otherwise) shall be retired in the manner required by law and shall not be reissued as shares of Class B Common Stock.

**B.&nbsp;&nbsp;&nbsp;&nbsp;PREFERRED STOCK**

The following rights, powers and privileges, and restrictions, qualifications and limitations, shall apply to the Preferred Stock. Unless otherwise indicated, references to "Sections" in this Part B of this Article IV refer to sections of this Part B.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividends</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Cumulative Preferred Stock Dividend Preference</u>. The Corporation shall not pay or set aside any dividends on shares of any other class or series of capital stock of the Corporation (other than dividends on shares of Common Stock payable in shares of Common Stock) in any calendar year unless (in addition to the obtaining of any consents required elsewhere in this Restated Certificate) the holders of the Preferred Stock then outstanding shall, on a *pari passu* basis, first receive, or simultaneously receive, out of funds legally available therefor, a dividend on each outstanding share of Preferred Stock in an amount equal to 8% of the applicable Original Issue Price (as defined below) per share of such Preferred Stock. The foregoing dividends shall not be cumulative and shall be paid when, as and if declared by the Board of Directors. In the case of the Series A Preferred Stock, the "***Original Issue Price***" for the Series A Preferred Stock shall mean $0.2525 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series A Preferred Stock in shares of such stock. In the case of the Series B Preferred Stock, the "***Original Issue Price***" for the Series B Preferred Stock shall mean $0.3183 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series B Preferred Stock in shares of such stock. In the case of the Series C Preferred Stock, the "***Original Issue Price***" for the Series C Preferred Stock shall mean $2.1580 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series C Preferred Stock in shares of such stock. In the case of the Series D Preferred Stock, the "***Original Issue Price***" for the Series D Preferred Stock shall mean $4.9117 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series D Preferred Stock in shares of such stock. In the case of the Series E Preferred Stock, the "***Original Issue Price***" for the Series E Preferred Stock shall mean $7.20051 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series E Preferred Stock in shares of such stock. In the case of the Series F Preferred Stock, the "***Original Issue Price***" for the Series F Preferred Stock shall mean $7.80 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series F Preferred Stock in shares of such stock. In the case of the Series A Senior Preferred Stock, the "***Original Issue Price***" for the Series A Senior Preferred Stock shall mean $0.2525 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series A Senior Preferred Stock in shares of such stock. In the case of the Series B Senior Preferred Stock, the "***Original Issue Price***" for the Series B Senior Preferred Stock shall mean $0.3183 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series B Senior Preferred Stock in shares of such stock. In the case of the Series C Senior Preferred Stock, the "***Original Issue Price***" for the Series C Senior Preferred Stock shall mean $2.1580 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series C Senior Preferred Stock in shares of such stock. In the case of the Series D Senior Preferred Stock, the "***Original Issue***

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***Price***" for the Series D Senior Preferred Stock shall mean $4.9117 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series D Senior Preferred Stock in shares of such stock. In the case of the Series E Senior Preferred Stock, the "***Original Issue Price***" for the Series E Senior Preferred Stock shall mean $7.20051 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series E Senior Preferred Stock in shares of such stock. In the case of the Series F Senior Preferred Stock, the "***Original Issue Price***" for the Series F Senior Preferred Stock shall mean $7.80 per share, subject to appropriate adjustment in the event of any stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series F Senior Preferred Stock in shares of such stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Participation</u>. If, after dividends in the full preferential amount specified in Section 1.1 for the Preferred Stock have been paid or set apart for payment in any calendar year of the Corporation, the Board shall declare additional dividends out of funds legally available therefor in that calendar year, then such additional dividends shall be declared pro rata on the Common Stock and the Preferred Stock on a *pari passu* basis according to the number of shares of Common Stock held by such holders. For this purpose, each holder of shares of Preferred Stock is to be treated as holding the greatest whole number of shares of Class A Common Stock then issuable upon conversion of all shares of Preferred Stock held by such holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Cash Dividends</u>. Whenever a dividend provided for in this Section 1 shall be payable in property other than cash, the value of such dividend shall be deemed to be the fair market value of such property as determined in good faith by the Board of Directors (including the approval of at least one Preferred Director).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Liquidation, Dissolution or Winding Up; Certain Mergers, Consolidations</u> <u>and Asset Sales</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments to Holders of Senior Preferred Stock</u>. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation or any Deemed Liquidation Event (as defined below), before any payment shall be made to the holders of Existing Preferred Stock and Common Stock by reason of their ownership thereof, the holders of shares of each series of Senior Preferred Stock then outstanding shall be entitled, on a *pari passu* basis, to be paid out of the funds and assets available for distribution to its stockholders, an amount per share equal to the greater of (a) the Original Issue Price for such series of Senior Preferred Stock, plus any dividends declared but unpaid thereon, or (b) such amount per share as would have been payable had all shares of such series of Senior Preferred Stock been converted into Class A Common Stock immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event. If upon any such liquidation, dissolution, winding up or Deemed Liquidation Event of the Corporation, the funds and assets available for distribution to the stockholders of the Corporation shall be insufficient to pay the holders of shares of Senior Preferred Stock the full amounts to which they are entitled under this Section 2.1, the holders of shares of Senior Preferred Stock shall share ratably in any distribution of the funds and assets available for distribution in proportion to the respective amounts that would otherwise be payable

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pursuant to this Section 2.1 in respect of the shares of Senior Preferred Stock held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments to Holders of Existing Preferred Stock</u>. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation or any Deemed Liquidation Event, after the payment of all preferential amounts required to be paid to the holders of shares of Senior Preferred Stock as provided in Section 2.1 and before any payment shall be made to the holders of Common Stock by reason of their ownership thereof, the holders of shares of each series of Existing Preferred Stock then outstanding shall be entitled, on a *pari passu* basis, to be paid out of the funds and assets available for distribution to its stockholders, an amount per share equal to the greater of (a) the Original Issue Price for such series of Existing Preferred Stock, plus any dividends declared but unpaid thereon, or (b) such amount per share as would have been payable had all shares of such series of Existing Preferred Stock been converted into Class A Common Stock immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event. If upon any such liquidation, dissolution, winding up or Deemed Liquidation Event of the Corporation, the funds and assets available for distribution to the stockholders of the Corporation shall be insufficient to pay the holders of shares of Existing Preferred Stock the full amounts to which they are entitled under this Section 2.1, the holders of shares of Existing Preferred Stock shall share ratably in any distribution of the funds and assets available for distribution in proportion to the respective amounts that would otherwise be payable pursuant to this Section 2.1 in respect of the shares of Existing Preferred Stock held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments to Holders of Common Stock</u>. In the event of any voluntary or involuntary liquidation, dissolution, winding up or Deemed Liquidation Event of the Corporation, after the payment of all preferential amounts required to be paid to the holders of shares of Senior Preferred Stock as provided in Section 2.1, and next, Existing Preferred Stock as provided in Section 2, the remaining funds and assets available for distribution to the stockholders of the Corporation shall be distributed among the holders of shares of Common Stock in accordance with Section 3 of Part A of this Article IV.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Deemed Liquidation Events</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Definition</u>. Each of the following events shall be considered a "***Deemed Liquidation Event***" unless (i) the holders of a majority of the outstanding shares of Preferred Stock (voting together as a single class on an as-converted basis), (ii) the holders of a majority of the outstanding shares of Series B Preferred, (iii) the holders of a majority of the outstanding shares of Series C Preferred, (iv) the holders of more than 75% of the outstanding shares of Series D Preferred, (v) the holders of a majority of the outstanding shares of Series E Preferred, and (vi) the holders of a majority of the outstanding shares of Series F Preferred, which majority must include each of Insight Partners XII, L.P., Insight Partners (Cayman) XII, L.P., Insight Partners XII (Co-Investors), L.P., Insight Partners XII (Co-Investors) (B), L.P., Insight Partners (Delaware) XII, L.P. and Insight Partners (EU) XII, S.C.SP. and Kleiner Perkins Select Fund II, LLC for itself and as nominee for Kleiner Perkins Select Founders Fund II, LLC

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and Kleiner Perkins Select Friends Fund II, LLC (this clause (vi), the "***Series F Majority***"), elect otherwise by written notice sent to the Corporation at least five (5) days prior to the effective date of any such event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;a merger or consolidation (each a "***Combination***") in which (i) the Corporation is a constituent party or (ii) a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to such Combination, except any such Combination involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such Combination continue to represent, or are converted into or exchanged for equity securities that represent, immediately following such Combination, at least a majority, by voting power, of the equity securities of (1) the surviving or resulting party or (2) the parent of such surviving or resulting party, if the surviving or resulting party is a wholly owned subsidiary of another party immediately following such Combination; provided that, for the purpose of this Section 2.4.1, all shares of Common Stock issuable upon exercise of Options (as defined in Section 5.1 below) outstanding immediately prior to such Combination or upon conversion of Convertible Securities (as defined in Section 5.1 below) outstanding immediately prior to such Combination shall be deemed to be outstanding immediately prior to such Combination and, if applicable, deemed to be converted or exchanged in such Combination on the same terms as the actual outstanding shares of Common Stock are converted or exchanged; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the consummation of a sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Corporation or any subsidiary or subsidiaries of the Corporation, of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, (or, if substantially all of the assets of the Corporation and its subsidiaries taken as a whole are held by one or more subsidiaries, the sale or disposition (whether by consolidation, merger, conversion or otherwise) of such subsidiaries of the Corporation), except where such sale, lease, transfer, exclusive license or other disposition is made to the Corporation or one or more wholly owned subsidiaries of the Corporation (an "***Asset Disposition***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.2&nbsp;&nbsp;&nbsp;&nbsp;In the event of a Deemed Liquidation Event and unless (i) the holders of a majority of the outstanding shares of Preferred Stock (voting together as a single class on an as-converted basis), (ii) the holders of a majority of the outstanding shares of Series B Preferred, (iii) the holders of a majority of the outstanding shares of Series C Preferred, (iv) the holders of more than 75% of the outstanding shares of Series D Preferred, (v) the holders of a majority of the outstanding shares of Series E Preferred, and (vi) the Series F Majority elect otherwise by written notice sent to the Corporation at least five (5) days prior to the effective date of any such event, if any portion of the consideration payable to the stockholders of the Corporation is placed into escrow and/or is payable to the stockholders of the Corporation subject to contingencies, the definitive agreement or escrow agreement entered into in such Deemed Liquidation Event shall provide that (a) the portion of such consideration that is not placed in escrow and not subject to any contingencies (the "***Initial Consideration***") shall be allocated among the holders of capital stock of the Corporation in accordance with Sections 2.1, 2.2 and 2.3 as if the Initial Consideration were the only consideration payable in connection with

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such Deemed Liquidation Event and (b) any additional consideration which becomes payable to the stockholders of the Corporation upon release from escrow or satisfaction of contingencies shall be allocated among the holders of capital stock of the Corporation in accordance with Sections 2.1, 2.2 and 2.3 after taking into account the previous payment of the Initial Consideration as part of the same transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Effecting a Deemed Liquidation Event</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Corporation shall not have the power to effect a Deemed Liquidation Event referred to in Subsection 2.4.1(a)(i) unless the agreement or plan of merger or consolidation for such transaction (the "***Merger Agreement***") provides that the consideration payable to the stockholders of the Corporation shall be allocated among the holders of capital stock of the Corporation in accordance with <u>Subsections 2.1</u>, <u>2.2</u> and <u>2.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the event of a Deemed Liquidation Event referred to in <u>Subsection 2.4.l(a)(ii)</u> or <u>Subsection 2.4.1(b)</u>, if the Corporation does not effect a dissolution of the Corporation under the General Corporation Law within ninety (90) days after such Deemed Liquidation Event, then (i) the Corporation shall send a written notice to each holder of Preferred Stock no later than the ninetieth (90<sup>th</sup>) day after the Deemed Liquidation Event advising such holders of their right (and the requirements to be met to secure such right) pursuant to the terms of the following clause (ii) to require the redemption of such shares of Preferred Stock, and (ii) if the holders of at least a majority of the then outstanding shares of Preferred Stock, voting together as a single class on an as-converted basis, so request in a written instrument delivered to the Corporation not later than one hundred twenty (120) days after such Deemed Liquidation Event, the Corporation shall use the consideration received by the Corporation for such Deemed Liquidation Event (net of any retained liabilities associated with the assets sold or technology licensed, as determined in good faith by the Board of Directors of the Corporation), together with any other assets of the Corporation available for distribution to its stockholders, all to the extent permitted by Delaware law governing distributions to stockholders (the "***Available Proceeds***"), on the one hundred fiftieth (150<sup>th</sup>) day after such Deemed Liquidation Event, to redeem all outstanding shares of Preferred Stock in accordance with <u>Subsections 2.1</u>, <u>2.2</u> and <u>2.3</u>. Notwithstanding the foregoing, in the event of a redemption pursuant to the preceding sentence, if the Available Proceeds are not sufficient to redeem all outstanding shares of Preferred Stock, the Corporation shall ratably redeem each holder's shares of Preferred Stock to the fullest extent of such Available Proceeds, and shall redeem the remaining shares as soon as it may lawfully do so under Delaware law governing distributions to stockholders. Prior to the distribution or redemption provided for in this Subsection Article IV:B.2.4.3(b), the Corporation shall not expend or dissipate the consideration received for such Deemed Liquidation Event, except to discharge expenses incurred in connection with such Deemed Liquidation Event or in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Amount Deemed Paid or Distributed</u>. The funds and assets deemed paid or distributed to the holders of capital stock of the Corporation upon any such Combination, Asset Disposition or redemption pursuant to Subsection 2.4.3 shall be the cash or the value of the property, rights or securities paid or distributed to such holders by the Corporation or the

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acquiring person, firm or other entity. If the amount deemed paid or distributed under this Section 2.4.4 is made in property other than in cash, the value of such distribution shall be the fair market value of such property, as determined in good faith by the Board; *<u>provided</u>, <u>however</u>,* that for securities not subject to investment letters or other similar restrictions on free marketability:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;if traded on a securities exchange, the value shall be deemed to be the average of the closing prices of the securities on such exchange over the 30-day period ending three days prior to the closing of such transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;if actively traded over-the-counter, the value shall be deemed to be the average of the closing bid prices over the 30-day period ending three days prior to the closing of such transaction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;if there is no active public market, the value shall be the fair market value thereof, as determined in good faith by the Board of Directors of the Corporation (including the approval of at least one Preferred Director).

The method of valuation of securities subject to investment letters or other similar restrictions on free marketability (other than restrictions arising solely by virtue of a stockholder's status as an affiliate or former affiliate) shall take into account an appropriate discount (as determined in good faith by the Board of Directors of the Corporation, including the approval of at least one Preferred Director) from the market value as determined pursuant to clause (i) above so as to reflect the approximate fair market value thereof.

The foregoing methods for valuing non-cash consideration to be distributed in connection with a Combination or Asset Disposition shall, with the appropriate approval of the definitive agreements governing such Combination or Asset Disposition by the stockholders under the General Corporation Law and Section 3.3, be superseded by the determination of such value set forth in the definitive agreements governing such Combination or Asset Disposition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. On any matter presented to the stockholders of the Corporation for their action or consideration at any meeting of stockholders of the Corporation (or by written consent of stockholders in lieu of meeting), each holder of outstanding shares of Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of Class A Common Stock into which the shares of Preferred Stock held by such holder are convertible as of the record date for determining stockholders entitled to vote on such matter. Fractional votes shall not be permitted and any fractional voting rights available on an as-converted basis (after aggregating all shares into which shares of Preferred Stock held by each holder could be converted) shall be rounded to the nearest whole number (with one-half being rounded upward). Except as provided by law or by the other provisions of this Restated Certificate, holders of Preferred Stock shall vote together with the holders of Common Stock as a single class on an as-converted basis (which shall mean, for clarity, that shares of Class B Common Stock shall have the voting rights set forth in Article IV, Section A(4.2)), shall have full voting rights and powers

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equal to the voting rights and powers of the holders of Common Stock, and shall be entitled, notwithstanding any provision hereof, to notice of any stockholders' meeting in accordance with the Bylaws of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Election of Directors</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Election</u>. For so long as at least 14,139,087 shares of Series B Preferred remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series B Preferred in shares of such stock), the holders of record of the shares of Series B Preferred, exclusively and as a separate class, shall be entitled to elect one (1) director of the Corporation (the "***Series B Director***"). For so long as at least 5,792,400 shares of Series C Preferred remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series C Preferred in shares of such stock), the holders of record of the shares of Series C Preferred, exclusively and as a separate class, shall be entitled to elect one (1) director of the Corporation (the "***Series C Director***"). For so long as at least 4,600,000 shares of Series F Preferred remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Series F Preferred in shares of such stock), the holders of record of the shares of Series F Preferred, exclusively and as a separate class, shall be entitled to elect one (1) director of the Corporation (the "***Series F Director***" and together with the Series B Director and the Series C Director, the "***Preferred Directors***"). The holders of record of the shares of Common Stock, voting together as a single class, shall be entitled to elect three (3) directors of the Corporation (the "***Common Directors***"). The holders of record of the shares of Common Stock and of every other class or series of voting stock (including the Preferred Stock), voting together as a single class on an as-converted basis, shall be entitled to elect the remaining number of directors of the Corporation (the "***Remaining Directors***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Vacancies Not Caused by Removal</u>. If there is any vacancy in the office of any director elected or to be elected by the holders of the outstanding shares of a specified class, classes or series of stock given the right to elect such director pursuant to this Section 3.2 (the "***Specified Stock***"), that exists prior to the time on the date the first share of Series F Preferred is issued (the "***First Issuance Time***"), such vacancy may be filled (either contingently or otherwise) by the stockholders as specified in this Section 3.2 or by at least a majority of the members of the Board then in office, although less than a quorum, or by a sole remaining member of the Board then in office, even if such directors or such sole remaining director were not elected by the holders of the Specified Stock that are entitled to elect a director or directors to office under the provisions of Section 3.2.1 and such electing director or directors shall specify at the time of such election the specific vacant directorship being filled. After the First Issuance Time, a director to hold office for the unexpired term of such directorship, unless the vacancy is due to the removal of a director, may be elected by either: (i) the remaining director or directors (if any) in office that were so elected by the holders of such Specified Stock by the affirmative vote of a majority of such directors or by the sole remaining director elected by the holders of such Specified Stock if there be but one or (ii) the required vote of holders of the shares of such Specified Stock specified in this Section 3.2 that are entitled to elect such

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director. In the event of a vacancy in the office of any director elected exclusively by holders of Preferred Stock other than any director prior to the First Issuance Time, as specified above, in no event shall the holders of the Common Stock be entitled to fill the vacancy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Vacancies Caused by Removal</u>. Any director elected as provided in the preceding sentences may be removed with or without cause by, and any vacancy in the office of any such removed director may be filled by, and only by, the affirmative vote of the holders of the shares of the Specified Stock entitled to elect such director or directors, given either at a special meeting of such stockholders duly called for that purpose or pursuant to a written consent of stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedure</u>. At any meeting held for the purpose of electing a director, the presence in person or by proxy of the holders of a majority of the outstanding shares of the Specified Stock entitled to elect such director shall constitute a quorum for the purpose of electing such director and the candidate or candidates to be elected by such Specified Stock shall be those who receive the highest number of affirmative votes (on an as-converted basis) of the outstanding shares of such Specified Stock. In the case of an action taken by written consent without a meeting, the candidate or candidates to be elected by such Specified Stock shall be those who are elected by the written consent of the holders of a majority of such Specified Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Protective Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Preferred Stock Protective Provisions</u>. For so long as at least 33,000,000 shares of Preferred Stock remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Preferred Stock in shares of such stock), the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Restated Certificate) the written consent, or affirmative vote at a meeting and evidenced in writing, of the holders of a majority of the outstanding shares of Preferred Stock (voting together as a single class on an as-converted basis), and any such act or transaction entered into without such consent or vote shall be null and void *ab initio,* and of no force or effect (provided, that such a written consent or affirmative vote made after such act or transaction will effectuate such action on the date such act or transaction was entered into):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;alter or change the rights, powers or preferences of the Preferred Stock set forth in the certificate of incorporation or bylaws of the Corporation, as then in effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of shares of Common Stock or Preferred Stock (or any series thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;authorize or create (by reclassification or otherwise) any new class or series of capital stock having rights, powers or preferences set forth in the Restated Certificate, as then in effect, that are senior to or on a parity with any series of Preferred Stock or authorize or create (by reclassification or otherwise) any security convertible into or exercisable for any such new class or series of capital stock; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;redeem or repurchase any shares of Common Stock or Preferred Stock, other than (i) pursuant to an agreement with an employee, consultant, director or other service provider to the Corporation or any of its wholly owned subsidiaries (collectively, "***Service Providers***") giving the Corporation the right to repurchase shares at the original cost thereof upon the termination of services or (ii) pursuant to an exercise of a right of first refusal in favor of the Corporation pursuant to an agreement with any Service Provider, which exercise has been approved by the Board; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;declare or pay any dividend or otherwise make a distribution to holders of Preferred Stock or Common Stock, other than a dividend on the Common Stock payable solely in shares of Common Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;liquidate, dissolve or wind-up the business and affairs of the Corporation, effect any Deemed Liquidation Event, or consent, agree or commit to any of the foregoing without conditioning such consent, agreement or commitment upon obtaining the approval required by this Section 3.3;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;create, or authorize the creation of, or issue, or authorize the issuance of any debt security, or permit any subsidiary to take any such action with respect to any debt security, or incur any indebtedness, if the Corporation's aggregate indebtedness would exceed $5,000,000, unless such debt security or indebtedness has been approved by the Board (including the approval of at least one Preferred Director);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;increase the number of shares reserved under the Corporation's stock option or equity incentive plan, or adopt any new stock option or equity incentive plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;sell assign, license, pledge, transfer or encumber any material intellectual property rights of the Corporation outside the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of directors constituting the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;increase the authorized number of shares of Class B Common Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;authorize or create (by reclassification or otherwise) any new class or series of capital stock having greater than one (1) vote for each share thereof held at all meetings of stockholders (and written actions in lieu of meetings).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Series A Preferred Protective Provisions</u>. For so long as at least 15,561,999 shares of Series A Preferred remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Preferred Stock in shares of such stock), the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Restated Certificate) the written consent, or affirmative

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vote at a meeting and evidenced in writing, of the holders of a majority of the outstanding shares of Series A Preferred, and any such act or transaction entered into without such consent or vote shall be null and void *ab initio,* and of no force or effect *(provided,* that such a written consent or affirmative vote made after such act or transaction will effectuate such action on the date such act or transaction was entered into):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;alter or change the rights, powers or preferences of the Series A Preferred set forth in the certificate of incorporation or bylaws of the Corporation, as then in effect, so as to affect the Series A Preferred adversely, but which shall not so affect the entire class of Preferred Stock; provided, that the creation of a new series of Preferred Stock having rights, preferences or privileges senior to or on parity with the Series A Preferred shall not constitute a change for this purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of shares of Series A Preferred; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;eliminate, reduce, or waive the anti-dilution protection of the Series A Preferred as provided in Section 5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Series B Preferred Protective Provisions</u>. For so long as at least 14,139,087 shares of Series B Preferred remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Preferred Stock in shares of such stock), the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Restated Certificate) the written consent, or affirmative vote at a meeting and evidenced in writing, of the holders of a majority of the outstanding shares of Series B Preferred, and any such act or transaction entered into without such consent or vote shall be null and void *ab initio,* and of no force or effect *(provided,* that such a written consent or affirmative vote made after such act or transaction will effectuate such action on the date such act or transaction was entered into):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;alter or change the rights, powers or preferences of the Series B Preferred set forth in the certificate of incorporation or bylaws of the Corporation, as then in effect, so as to affect the Series B Preferred adversely, but which shall not so affect the entire class of Preferred Stock; provided, that the creation of a new series of Preferred Stock having rights, preferences or privileges senior to or on parity with the Series B Preferred shall not constitute a change for this purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of shares of Series B Preferred; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;reduce or waive the liquidation preference of the Series B Senior Preferred as provided in Section 2.1 or the Series B Preferred Stock as provided in Section 2.2, or eliminate, reduce, or waive the anti-dilution protection of the Series B Preferred as provided in Section 5.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Series C Preferred Protective Provisions</u>. For so long as at least 5,792,400 shares of Series C Preferred remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Preferred Stock in shares of such stock), the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Restated Certificate) the written consent, or affirmative vote at a meeting and evidenced in writing, of the holders of a majority of the outstanding shares of Series C Preferred, and any such act or transaction entered into without such consent or vote shall be null and void *ab initio,* and of no force or effect *(provided,* that such a written consent or affirmative vote made after such act or transaction will effectuate such action on the date such act or transaction was entered into):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;alter or change the rights, powers or preferences of the Series C Preferred set forth in the certificate of incorporation or bylaws of the Corporation, as then in effect, so as to affect the Series C Preferred adversely, but which shall not so affect the entire class of Preferred Stock; provided, that the creation of a new series of Preferred Stock having rights, preferences or privileges senior to or on parity with the Series C Preferred shall not constitute a change for this purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of shares of Series C Preferred; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;reduce or waive the liquidation preference of the Series C Senior Preferred as provided in Section 2.1 or the Series C Preferred Stock as provided in Section 2.2, or eliminate, reduce, or waive the anti-dilution protection of the Series C Preferred as provided in Section 5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Series D Preferred Protective Provisions</u>. For so long as at least 2,544,960 shares of Series D Preferred remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Preferred Stock in shares of such stock), the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Restated Certificate) the written consent, or affirmative vote at a meeting and evidenced in writing, of the holders of more than 75% of the outstanding shares of Series D Preferred, and any such act or transaction entered into without such consent or vote shall be null and void *ab initio,* and of no force or effect *(provided,* that such a written consent or affirmative vote made after such act or transaction will effectuate such action on the date such act or transaction was entered into):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;alter or change the rights, powers or preferences of the Series D Preferred set forth in the certificate of incorporation or bylaws of the Corporation, as then in effect, so as to affect the Series D Preferred adversely, but which shall not so affect the entire class of Preferred Stock; provided, that the creation of a new series of Preferred Stock having rights, preferences or privileges senior to or on parity with the Series D Preferred shall not constitute a change for this purpose;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of shares of Series D Preferred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;reduce or waive the liquidation preference of the Series D Senior Preferred as provided in Section 2.1 or the Series D Preferred Stock as provided in Section 2.2, or eliminate, reduce, or waive the anti-dilution protection of the Series D Preferred as provided in Section 5; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;waive, amend or modify any provisions of this <u>Section</u> <u>3.3.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Series E Preferred Protective Provisions</u>. For so long as at least 2,500,000 shares of Series E Preferred remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Preferred Stock in shares of such stock), the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or this Restated Certificate) the written consent, or affirmative vote at a meeting and evidenced in writing, of the holders of a majority of the outstanding shares of Series E Preferred, and any such act or transaction entered into without such consent or vote shall be null and void *ab initio,* and of no force or effect *(provided,* that such a written consent or affirmative vote made after such act or transaction will effectuate such action on the date such act or transaction was entered into):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;alter or change the rights, powers or preferences of the Series E Preferred set forth in the certificate of incorporation or bylaws of the Corporation, as then in effect, so as to affect the Series E Preferred adversely, but which shall not so affect the entire class of Preferred Stock; provided, that the creation of a new series of Preferred Stock having rights, preferences or privileges senior to or on parity with the Series E Preferred shall not constitute a change for this purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of shares of Series E Preferred Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;reduce or waive the liquidation preference of the Series E Senior Preferred Stock as provided in Section 2.1 or the Series E Preferred Stock as provided in Section 2.2, or eliminate, reduce or waive the anti-dilution protection of the Series E Preferred as provided in Section 5; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;waive, amend or modify any provisions of this <u>Section</u> <u>3.3.6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Series F Preferred Protective Provisions</u>. For so long as at least 4,600,000 shares of Series F Preferred remain outstanding (as such number is adjusted for stock splits and combinations of shares, recapitalizations or the like, and for dividends paid on the Preferred Stock in shares of such stock), the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to

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any other vote required by law or this Restated Certificate) the written consent, or affirmative vote at a meeting and evidenced in writing, of the Series F Majority, and any such act or transaction entered into without such consent or vote shall be null and void *ab initio,* and of no force or effect *(provided,* that such a written consent or affirmative vote made after such act or transaction will effectuate such action on the date such act or transaction was entered into):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;alter or change the rights, powers or preferences of the Series F Preferred set forth in the certificate of incorporation or bylaws of the Corporation, as then in effect, so as to affect the Series F Preferred adversely, but which shall not so affect the entire class of Preferred Stock; provided, that the creation of a new series of Preferred Stock having rights, preferences or privileges senior to or on parity with the Series F Preferred shall not constitute a change for this purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;increase or decrease the authorized number of shares of Series F Preferred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;eliminate, reduce or waive the liquidation preference of the Series F Senior Preferred Stock as provided in Section 2.1 or the Series F Preferred Stock as provided in Section 2.2, or eliminate, reduce or waive the anti-dilution protection of the Series F Preferred as provided in Section 5; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;waive, amend or modify any provision of this <u>Section</u> <u>3.3.7</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion Rights</u>**. The holders of the Preferred Stock shall have conversion rights as follows (the "***Conversion Rights***"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Convert</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion Ratio</u>. Each share of a series of Preferred Stock shall be convertible, at the option of the holder thereof, at any time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and nonassessable shares of Class A Common Stock as is determined by dividing the Original Issue Price for such series of Preferred Stock by the Conversion Price (as defined below) for such series of Preferred Stock in effect at the time of conversion. The "***Conversion Price***" for each series of Preferred Stock shall initially mean the Original Issue Price for such series of Preferred Stock. Such initial Conversion Price, and the rate at which shares of Preferred Stock may be converted into shares of Class A Common Stock, shall be subject to adjustment as provided in Section 5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Conversion</u>. In order for a holder of Preferred Stock to voluntarily convert shares of Preferred Stock into shares of Class A Common Stock, such holder shall surrender the certificate or certificates for such shares of Preferred Stock (or, if such registered holder alleges that any such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate), at the office of the transfer agent for the

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Preferred Stock (or at the principal office of the Corporation if the Corporation serves as its own transfer agent), together with written notice that such holder elects to convert all or any number of the shares of the Preferred Stock represented by such certificate or certificates and, if applicable, any event on which such conversion is contingent (a "***Contingency Event***"). Such notice shall state such holder's name or the names of the nominees in which such holder wishes the certificate or certificates for shares of Class A Common Stock to be issued. If required by the Corporation, certificates surrendered for conversion shall be endorsed or accompanied by a written instrument or instruments of transfer, in form reasonably satisfactory to the Corporation, duly executed by the registered holder or such holder's attorney duly authorized in writing. The close of business on the date of receipt by the transfer agent (or by the Corporation if the Corporation serves as its own transfer agent) of such certificates (or lost certificate affidavit and agreement) and notice (or, if later, the date on which all Contingency Events have occurred) shall be the time of conversion (the "***Conversion Time***"), and the shares of Class A Common Stock issuable upon conversion of the shares represented by such certificate (or indicated for conversion) shall be deemed to be outstanding of record as of such time. The Corporation shall, as soon as practicable after the Conversion Time, (a) issue and deliver to such holder of Preferred Stock, or to such holder's nominee(s), a certificate or certificates for the number of full shares of Class A Common Stock issuable upon such conversion in accordance with the provisions hereof and a certificate for the number (if any) of the shares of Preferred Stock represented by the surrendered certificate that were not converted into Class A Common Stock, (b) pay in cash such amount as provided in Section 5.7.3 in lieu of any fraction of a share of Class A Common Stock otherwise issuable upon such conversion and (c) pay all declared but unpaid dividends on the shares of Preferred Stock converted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Voluntary Conversion</u>. All shares of Preferred Stock that shall have been surrendered for conversion as herein provided shall no longer be deemed to be outstanding and all rights with respect to such shares shall immediately cease and terminate at the Conversion Time, except only the right of the holders thereof to receive shares of Class A Common Stock in exchange therefor, to receive payment in lieu of any fraction of a share otherwise issuable upon such conversion as provided in Section 5.7.3 and to receive payment of any dividends declared but unpaid thereon. Any shares of Preferred Stock so converted shall be retired and cancelled and may not be reissued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Mandatory Conversion</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Automatic Conversion</u>. Upon the earlier of (a) immediately prior to the closing of the sale of shares of Common Stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the ***"Securities Act"),*** resulting in at least $150,000,000 of proceeds, net of underwriting discounts and commissions, to the Corporation that results in the Corporation's shares of Common Stock being listed on a national exchange (a "***Qualified IPO***"), (b) the effectiveness of a registration statement on Form S-1 under the Securities Act filed by the Corporation with the Securities and Exchange Commission in connection with the initial listing of any class or series of capital stock of the Corporation on a national securities exchange by means of such registration statement that registers shares of outstanding capital stock of the

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Corporation for resale (the "***Secondary Shares***") and/or shares of capital stock of the Corporation to be issued in connection with such listing (the "***Primary Shares***"), <u>provided</u> that (1) with respect to a transaction in which only Secondary Shares are listed, the reference price per Secondary Share announced by the stock exchange upon which the Secondary Shares are listed is equal to at least $7.80 per share (as adjusted for any stock dividends, stock splits, combinations, recapitalizations or similar events with respect to such shares), and (2) with respect to a transaction in which the Secondary Shares and Primary Shares are listed, the Corporation receives net proceeds of at least $150,000,000 (a "***Qualified Direct Listing***"), (c) immediately prior to the closing by the Corporation of a merger, consolidation or share exchange with a special purpose acquisition company (the "***SPAC***") or its subsidiary in which the common stock (or similar securities) of the surviving or parent entity are listed on a national securities exchange or market that results in the surviving or parent entity receiving aggregate net proceeds, excluding the cash resources of this Corporation, but inclusive of amounts released from the SPAC's associated trust fund (net of redemptions) and other net proceeds to the SPAC from contemporaneous sales of securities upon the consummation of the SPAC's business combination with this Corporation, of at least $150,000,000 (a "***Qualified SPAC Transaction***", and collectively with a Qualified IPO and a Qualified Direct Listing, a "***Qualified Listing Transaction***"), or (d) the date and time, or the occurrence of an event, specified by vote or written consent of (i) the holders of a majority of the outstanding shares of Preferred Stock, (ii) the holders of a majority of the outstanding shares of Series B Preferred, (iii) the holders of a majority of the outstanding shares of Series C Preferred, (iv) the holders of more than 75% of the outstanding shares of Series D Preferred, (v) the holders of a majority of the outstanding shares of Series E Preferred, and (vi) the Series F Majority (the time of such closing or the date and time specified or the time of the event specified in such vote or written consent is referred to herein as the "***Mandatory Conversion Time***"), (x) all outstanding shares of Preferred Stock shall automatically be converted into shares of Class A Common Stock, at the applicable ratio described in Section 4.1.1 as the same may be adjusted from time to time in accordance with Section 5 and (y) such shares may not be reissued by the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Mandatory Conversion Procedural Requirements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All holders of record of shares of Preferred Stock shall be sent written notice by the Corporation of the Mandatory Conversion Time and the place designated for mandatory conversion of all such shares of Preferred Stock pursuant to Sections 4.2.1 and 9. Unless otherwise provided in this Restated Certificate, such notice need not be sent in advance of the occurrence of the Mandatory Conversion Time. Upon receipt of such notice, each holder of shares of Preferred Stock shall surrender such holder's certificate or certificates for all such shares (or, if such holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate) to the Corporation at the place designated in such notice, and shall thereafter receive certificates for the number of shares of Class A Common Stock to which such holder is entitled pursuant to this Section 4.2.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If so required by the Corporation, certificates surrendered for conversion shall be endorsed or accompanied by written instrument or instruments of transfer, in form reasonably satisfactory to the Corporation, duly executed by the registered holder or by such holder's attorney duly authorized in writing. All rights with respect to the Preferred Stock converted pursuant to this Section 4.2, including the rights, if any, to receive notices and vote (other than as a holder of Class A Common Stock), will terminate at the Mandatory Conversion Time (notwithstanding the failure of the holder or holders thereof to surrender the certificates at or prior to such time), except only the rights of the holders thereof, upon surrender of their certificate or certificates (or lost certificate affidavit and agreement) therefor, to receive the items provided for in the next sentence of this Section 4.2.2(b). As soon as practicable after the Mandatory Conversion Time and the surrender of the certificate or certificates (or lost certificate affidavit and agreement) for Preferred Stock, the Corporation shall issue and deliver to such holder, or to such holder's nominee(s), a certificate or certificates for the number of full shares of Class A Common Stock issuable on such conversion in accordance with the provisions hereof, together with cash as provided in Section 5.7.3 in lieu of any fraction of a share of Class A Common Stock otherwise issuable upon such conversion and the payment of any declared but unpaid dividends on the shares of Preferred Stock converted. Such converted Preferred Stock shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of Preferred Stock (and the applicable series thereof) accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments to Conversion Price</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments for Diluting Issuances</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Definitions</u>. For purposes of this Article IV, the following definitions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;"***Option***" shall mean any right, option or warrant to subscribe for, purchase or otherwise acquire Common Stock or Convertible Securities from the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;"***Original Issue Date***" for a series of Preferred Stock shall mean the date on which the first share of such series of Preferred Stock was issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;"***Convertible Securities***" shall mean any evidences of indebtedness, shares or other securities, including restricted stock units, issued by the Corporation that are directly or indirectly convertible into or exchangeable for Common Stock, but excluding Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;"***Additional Shares of Common Stock***" with respect to a series of Preferred Stock shall mean all shares of Common Stock issued (or, pursuant to Section 5.1.2 below, deemed to be issued) by the Corporation after the applicable Original Issue Date for such series of Preferred Stock, other than the following shares of Common Stock and shares of

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Common Stock deemed issued pursuant to the following Options and Convertible Securities (collectively as to all such shares and shares deemed issued, "***Exempted Securities***"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;shares of Common Stock, Options or Convertible Securities issued as a dividend or distribution on such series of Preferred Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;shares of Common Stock, Options or Convertible Securities issued by reason of a dividend, stock split, split-up or other distribution on or subdivision of shares of Common Stock that is covered by Section 5.2, 5.3, 5.4, 5.5 or 5.6;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;shares of Common Stock or Options to acquire shares of Common Stock, including but not limited to stock appreciation rights payable in shares of Common Stock or in Options or Convertible Securities, issued to Service Providers pursuant to a plan, agreement or arrangement approved by the Board and by at least one Preferred Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;shares of Common Stock or Convertible Securities actually issued upon the exercise of Options, or shares of Common Stock actually issued upon the conversion or exchange of Convertible Securities, in each case provided that such issuance is pursuant to the terms of such Option or Convertible Security (provided, however, for purposes of clarification, that such underlying Option or Convertible Security shall not be deemed an Exempted Security pursuant to this clause (iv));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;shares of Common Stock, Options or Convertible Securities issued to banks, equipment lessors or other financial institutions pursuant to a debt financing or equipment leasing transaction approved by the Board and by at least one Preferred Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;shares of Common Stock, Options or Convertible Securities issued as acquisition consideration pursuant to a bona fide acquisition of another entity by the Corporation by merger or consolidation with, purchase of substantially all of the assets of, or purchase of more than fifty percent of the outstanding equity securities of, the other entity, or issued pursuant to a bona fide joint venture agreement, *provided* that such issuances are approved by the Board and by at least one Preferred Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;shares of Common Stock, Options or Convertible Securities issued in connection with sponsored research, collaboration, technology license, development, OEM, marketing or other similar agreements or strategic partnerships approved by the Board and by at least one Preferred Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;shares of Common Stock, Options or Convertible Securities issued as a result of a decrease in the Conversion Price of any series of Preferred Stock resulting from the operation of Section 5.1.3;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;the issuance or deemed issuance of Common Stock if (1) with respect to the Series A Preferred, the Corporation receives written notice from the

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holders of at least fifty-five percent (55%) of the then outstanding shares of Series A Preferred agreeing that no adjustment shall be made to the Conversion Price of the Series A Preferred as a result of the issuance or deemed issuance, (2) with respect to the Series B Preferred, the Corporation receives written notice from the holders of a majority of the then outstanding shares of Series B Preferred agreeing that no adjustment shall be made to the Conversion Price of the Series B Preferred as a result of the issuance or deemed issuance, (3) with respect to the Series C Preferred, the Corporation receives written notice from the holders of a majority of the then outstanding shares of Series C Preferred agreeing that no adjustment shall be made to the Conversion Price of the Series C Preferred as a result of the issuance or deemed issuance, (4) with respect to the Series D Preferred, the Corporation receives written notice from the holders of more than 75% of the then outstanding shares of Series D Preferred agreeing that no adjustment shall be made to the Conversion Price of the Series D Preferred as a result of the issuance or deemed issuance, (5) with respect to the Series E Preferred, the Corporation receives written notice from the holders of a majority of the then outstanding shares of Series E Preferred agreeing that no adjustment shall be made to the Conversion Price of the Series E Preferred as a result of the issuance or deemed issuance, or (6) with respect to the Series F Preferred, the Corporation receives written notice from the Series F Majority agreeing that no adjustment shall be made to the Conversion Price of the Series F Preferred as a result of the issuance or deemed issuance; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;shares of Class B Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Deemed Issue of Additional Shares of Common Stock</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If the Corporation at any time or from time to time after the applicable Original Issue Date for a series of Preferred Stock shall issue any Options or Convertible Securities (excluding Options or Convertible Securities which are themselves Exempted Securities) or shall fix a record date for the determination of holders of any class of securities entitled to receive any such Options or Convertible Securities, then the maximum number of shares of Common Stock (as set forth in the instrument relating thereto, assuming the satisfaction of any conditions to exercisability, convertibility or exchangeability (including the passage of time) but without regard to any provision contained therein for a subsequent adjustment of such number including by way of anti-dilution adjustment) issuable upon the exercise of such Options or, in the case of Convertible Securities and Options therefor, the conversion or exchange of such Convertible Securities, shall be deemed to be Additional Shares of Common Stock issued as of the time of such issue or, in case such a record date shall have been fixed, as of the close of business on such record date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If the terms of any Option or Convertible Security, the issuance of which resulted in an adjustment to the Conversion Price of a series of Preferred Stock pursuant to the terms of Section 5.1.3, are revised as a result of an amendment to such terms or any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms pursuant to anti-dilution or similar provisions of such Option or Convertible Security) to provide for either (i) any increase or decrease in the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of

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any such Option or Convertible Security or (ii) any increase or decrease in the consideration payable to the Corporation upon such exercise, conversion and/or exchange, then, effective upon such increase or decrease becoming effective, the Conversion Price of such series of Preferred Stock computed upon the original issue of such Option or Convertible Security (or upon the occurrence of a record date with respect thereto) shall be readjusted to such Conversion Price of such series of Preferred Stock as would have obtained had such revised terms been in effect upon the original date of issuance of such Option or Convertible Security. Notwithstanding the foregoing, no readjustment pursuant to this Section 5.1.2(b) shall have the effect of increasing the Conversion Price of a series of Preferred Stock to an amount which exceeds the lower of (1) the Conversion Price for such series of Preferred Stock in effect immediately prior to the original adjustment made as a result of the issuance of such Option or Convertible Security, or (2) the Conversion Price for such series of Preferred Stock that would have resulted from any issuances of Additional Shares of Common Stock (other than deemed issuances of Additional Shares of Common Stock as a result of the issuance of such Option or Convertible Security) between the original adjustment date and such readjustment date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If the terms of any Option or Convertible Security (excluding Options or Convertible Securities that are themselves Exempted Securities), the issuance of which did not result in an adjustment to the Conversion Price of a series of Preferred Stock pursuant to the terms of Section 5.1.3 (either because the consideration per share (determined pursuant to Section 5.1.4) of the Additional Shares of Common Stock subject thereto was equal to or greater than the Conversion Price of such series of Preferred Stock then in effect, or because such Option or Convertible Security was issued before the Original Issue Date of such series of Preferred Stock), are revised after the Original Issue Date of such series of Preferred Stock as a result of an amendment to such terms or any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms pursuant to anti-dilution or similar provisions of such Option or Convertible Security) to provide for either (i) any increase in the number of shares of Common Stock issuable upon the exercise, conversion or exchange of any such Option or Convertible Security or (ii) any decrease in the consideration payable to the Corporation upon such exercise, conversion or exchange, then such Option or Convertible Security, as so amended or adjusted, and the Additional Shares of Common Stock subject thereto (determined in the manner provided in Section 5.l.2(a)) shall be deemed to have been issued effective upon such increase or decrease becoming effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Upon the expiration or termination of any unexercised Option or unconverted or unexchanged Convertible Security (or portion thereof) that resulted (either upon its original issuance or upon a revision of its terms) in an adjustment to the Conversion Price of a series of Preferred Stock pursuant to the terms of Section 5.1.3, the Conversion Price of such series of Preferred Stock shall be readjusted to such Conversion Price of such series of Preferred Stock as would have obtained had such Option or Convertible Security (or portion thereof) never been issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any Option or Convertible Security, or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, is

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calculable at the time such Option or Convertible Security is issued or amended but is subject to adjustment based upon subsequent events, any adjustment to the Conversion Price of a series of Preferred Stock provided for in this Section 5.1.2 shall be effected at the time of such issuance or amendment based on such number of shares or amount of consideration without regard to any provisions for subsequent adjustments (and any subsequent adjustments shall be treated as provided in Sections 5.l.2(b) and 5.1.2(c)). If the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any Option or Convertible Security, or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, cannot be calculated at all at the time such Option or Convertible Security is issued or amended, any adjustment to such Conversion Price that would result under the terms of this Section 5.1.2 at the time of such issuance or amendment shall instead be effected at the time such number of shares and/or amount of consideration is first calculable (even if subject to subsequent adjustments), assuming for purposes of calculating such adjustment to such Conversion Price that such issuance or amendment took place at the time such calculation can first be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.3&nbsp;&nbsp;&nbsp;&nbsp;Issuance of Additional Shares of Common Stock. In the event the Corporation shall at any time after the applicable Original Issue Date of a series of Preferred Stock issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued pursuant to Section 5.1.2), without consideration or for a consideration per share less than the Conversion Price for such series of Preferred Stock in effect immediately prior to such issue, then such Conversion Price shall be reduced, concurrently with such issue, to a price (calculated to the nearest one-thousandth of a cent) determined in accordance with the following formula:

CP2 = CP1 \* (A+ B) / (A + C).

For purposes of the foregoing formula, the following definitions shall apply:

"CP2" shall mean the applicable Conversion Price in effect immediately after such issue or deemed issue of Additional Shares of Common Stock

"CP1" shall mean the applicable Conversion Price in effect immediately prior to such issue or deemed issue of Additional Shares of Common Stock;

"A" shall mean the number of shares of Common Stock outstanding immediately prior to such issue or deemed issue of Additional Shares of Common Stock (treating for this purpose as outstanding all shares of Common Stock issuable upon exercise of Options outstanding immediately prior to such issue or upon conversion or exchange of Convertible Securities (including the Preferred Stock) outstanding (assuming exercise of any outstanding Options therefor) immediately prior to such issue);

"B" shall mean the number of shares of Common Stock that would have been issued or deemed issued if such Additional Shares of Common Stock had been issued at a price per share equal to CP1 (determined by dividing the aggregate consideration received by the Corporation in respect of such issue by CP1); and

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"C" shall mean the number of such Additional Shares of Common Stock actually issued or deemed issued in such transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Determination of Consideration</u>. For purposes of this Section 5. 1, the consideration received by the Corporation for the issue or deemed issue of any Additional Shares of Common Stock shall be computed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Cash and Property</u>: Such consideration shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;insofar as it consists of cash, be computed at the aggregate amount of cash received by the Corporation, excluding amounts paid or payable for accrued interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;insofar as it consists of property other than cash, be computed at the fair market value thereof at the time of such issue, as determined in good faith by the Board (including the approval of at least one Preferred Director); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;in the event Additional Shares of Common Stock are issued together with other shares or securities or other assets of the Corporation for consideration which covers both, be the proportion of such consideration so received, computed as provided in clauses (i) and (ii) above, as determined in good faith by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Options and Convertible Securities</u>. The consideration per share received by the Corporation for Additional Shares of Common Stock deemed to have been issued pursuant to Section 5.1.2, relating to Options and Convertible Securities, shall be determined by dividing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the total amount, if any, received or receivable by the Corporation as consideration for the issue of such Options or Convertible Securities, plus the minimum aggregate amount of additional consideration (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such consideration and for the sake of clarity and avoiding duplication, cancellation of indebtedness not otherwise already cancelled as consideration for such issuance) payable to the Corporation upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or exchange of such Convertible Securities, by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the maximum number of shares of Common Stock (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or exchange of such Convertible Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Multiple Closing Dates</u>. In the event the Corporation shall issue on more than one date Additional Shares of Common Stock that are a part of one transaction or a

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series of related transactions and that would result in an adjustment to the Conversion Price of a series of Preferred Stock pursuant to the terms of Section 5.1.2 and such issuance dates occur within a period of no more than one hundred twenty (120) days after the first such issuance to the final such issuance, then, upon the final such issuance, the Conversion Price of such series of Preferred Stock shall be readjusted to give effect to all such issuances as if they occurred on the date of the first such issuance (and without giving effect to any additional adjustments as a result of any such subsequent issuances within such period that are a part of such transaction or series of related transaction).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment for Stock Splits and Combinations</u>. If the Corporation shall at any time or from time to time after the Effective Time for a series of Preferred Stock effect a subdivision of the outstanding Class A Common Stock, the Conversion Price for such series of Preferred Stock in effect immediately before that subdivision shall be proportionately decreased so that the number of shares of Class A Common Stock issuable on conversion of each share of such series shall be increased in proportion to such increase in the aggregate number of shares of Class A Common Stock outstanding. If the Corporation shall at any time or from time to time after the Effective Time for a series of Preferred Stock combine the outstanding shares of Class A Common Stock, the Conversion Price for such series of Preferred Stock in effect immediately before the combination shall be proportionately increased so that the number of shares of Class A Common Stock issuable on conversion of each share of such series shall be decreased in proportion to such decrease in the aggregate number of shares of Class A Common Stock outstanding. Any adjustment under this Section 5.2 shall become effective at the close of business on the date the subdivision or combination becomes effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment for Certain Dividends and Distributions</u>. In the event the Corporation at any time or from time to time after the Effective Time for a series of Preferred Stock shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable on the Common Stock in additional shares of Common Stock, then and in each such event the Conversion Price for such series of Preferred Stock in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying such Conversion Price then in effect by a fraction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution.

Notwithstanding the foregoing, (i) if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, such Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter such Conversion Price shall be adjusted pursuant to this Section 5.3 as of the time of

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actual payment of such dividends or distributions; and (ii) no such adjustment shall be made if the holders of such series of Preferred Stock simultaneously receive a dividend or other distribution of shares of Common Stock in a number equal to the number of shares of Class A Common Stock as they would have received if all outstanding shares of such series of Preferred Stock had been converted into Class A Common Stock on the date of such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustments for Other Dividends and Distributions</u>. In the event the Corporation at any time or from time to time after the Effective Time for a series of Preferred Stock shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in securities of the Corporation (other than a distribution of shares of Common Stock in respect of outstanding shares of Common Stock and other than a distribution pursuant to Section 2 hereof), then and in each such event the holders of such series of Preferred Stock shall receive, simultaneously with the distribution to the holders of Common Stock, a dividend or other distribution of such securities in an amount equal to the amount of such securities as they would have received if all outstanding shares of such series of Preferred Stock had been converted into Class A Common Stock on the date of such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment for Reclassification, Exchange and Substitution</u>. If, at any time or from time to time after the Effective Date for a series of Preferred Stock, the Class A Common Stock issuable upon the conversion of such series of Preferred Stock is changed into the same or a different number of shares of any class or classes of stock of the Corporation, whether by recapitalization, reclassification or otherwise (<u>other</u> <u>than</u> by a stock split or combination, dividend, distribution, merger or consolidation covered by Sections 5.2, 5.3, 5.4 or 5.6 or by Section 2.3 regarding a Deemed Liquidation Event), then in any such event each holder of such series of Preferred Stock shall have the right thereafter to convert such stock into the kind and amount of stock and other securities and property receivable upon such recapitalization, reclassification or other change by holders of the number of shares of Class A Common Stock into which such shares of Preferred Stock could have been converted immediately prior to such recapitalization, reclassification or change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment for Merger or Consolidation</u>. Subject to the provisions of Section 2.3, if there shall occur any consolidation or merger involving the Corporation in which the Common Stock (but not a series of Preferred Stock) is converted into or exchanged for securities, cash or other property (other than a transaction covered by Sections 5.3, 5.4 or 5.5), then, following any such consolidation or merger, provision shall be made that each share of such series of Preferred Stock shall thereafter be convertible in lieu of the Class A Common Stock into which it was convertible prior to such event into the kind and amount of securities, cash or other property which a holder of the number of shares of Class A Common Stock of the Corporation issuable upon conversion of one share of such series of Preferred Stock immediately prior to such consolidation or merger would have been entitled to receive pursuant to such transaction; and, in such case, appropriate adjustment (as determined in good faith by the Board) shall be made in the application of the provisions in Section 3.3.4(a) and this Section 5 with respect to the rights and interests thereafter of the holders of such series of Preferred Stock, to the end that the provisions set forth in Section 3.3.4(a) and this Section 5 shall thereafter be

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applicable, as nearly as reasonably may be, in relation to any securities or other property thereafter deliverable upon the conversion of such series of Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7&nbsp;&nbsp;&nbsp;&nbsp;<u>General Conversion Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Certificate as to Adjustments</u>. Upon the occurrence of each adjustment or readjustment of the Conversion Price of a series of Preferred Stock pursuant to this Section 5, the Corporation at its expense shall, as promptly as reasonably practicable but in any event not later than fifteen (15) days thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of such series of Preferred Stock a certificate setting forth such adjustment or readjustment (including the kind and amount of securities, cash or other property into which such series of Preferred Stock is convertible) and showing in detail the facts upon which such adjustment or readjustment is based. The Corporation shall, as promptly as reasonably practicable after the written request at any time of any holder of any series of Preferred Stock (but in any event not later than ten (10) days thereafter), furnish or cause to be furnished to such holder a certificate setting forth (a) the Conversion Price of such series of Preferred Stock then in effect and (b) the number of shares of Class A Common Stock and the amount, if any, of other securities, cash or property which then would be received upon the conversion of such series of Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Reservation of Shares</u>. The Corporation shall at all times while any share of Preferred Stock shall be outstanding, reserve and keep available out of its authorized but unissued capital stock, for the purpose of effecting the conversion of the Preferred Stock, such number of its duly authorized shares of Class A Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Preferred Stock; and if at any time the number of authorized but unissued shares of Class A Common Stock shall not be sufficient to effect the conversion of all then outstanding shares of the Preferred Stock, the Corporation shall take such corporate action as may be necessary to increase its authorized but unissued shares of Class A Common Stock to such number of shares as shall be sufficient for such purposes, including, without limitation, engaging in best efforts to obtain the requisite stockholder approval of any necessary amendment to this Restated Certificate. Before taking any action that would cause an adjustment reducing the Conversion Price of a series of Preferred Stock below the then par value of the shares of Class A Common Stock issuable upon conversion of such series of Preferred Stock, the Corporation will take any corporate action which may, in the opinion of its counsel, be necessary in order that the Corporation may validly and legally issue fully paid and nonassessable shares of Class A Common Stock at such adjusted Conversion Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Fractional Shares</u>. No fractional shares of Class A Common Stock shall be issued upon conversion of the Preferred Stock. In lieu of any fractional shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the fair value of a share of Class A Common Stock as determined in good faith by the Board. Whether or not fractional shares would be issuable upon such conversion shall be determined on the basis of the total number of shares of Preferred Stock the holder is at the time converting into Class A Common Stock and the aggregate number of shares of Class A Common Stock issuable upon such conversion.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7.4&nbsp;&nbsp;&nbsp;&nbsp;<u>No Further Adjustment after Conversion</u>. Upon any conversion of shares of Preferred Stock into Class A Common Stock, no adjustment to the Conversion Price of the applicable series of Preferred Stock shall be made with respect to the converted shares for any declared but unpaid dividends on such series of Preferred Stock or on the Class A Common Stock delivered upon conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Reissuance of Redeemed or Otherwise Acquired Preferred Stock</u>**. Any shares of Preferred Stock that are redeemed or otherwise acquired by the Corporation or any of its subsidiaries shall be automatically and immediately retired and shall not be reissued, sold or transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver</u>**. Except as expressly set forth herein, any of the rights, powers, preferences and other terms of a series of the Preferred Stock or the Preferred Stock as a class that are set forth herein may only be waived on behalf of all holders of such series of Preferred Stock or the Preferred Stock as a class by the affirmative written consent or vote of the holders of a majority of the outstanding shares of such series of Preferred Stock or the holders of a majority of the outstanding shares of Preferred Stock (voting together as a single class on an as-converted basis), as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Record Date</u>**. In the event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Corporation shall set a record of the holders of its Common Stock (or other capital stock or securities at the time issuable upon conversion of the Preferred Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of capital stock of any class or any other securities, or to receive any other security; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;of any capital reorganization of the Corporation, any reclassification of the Common Stock of the Corporation, or any Deemed Liquidation Event; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;of the voluntary or involuntary dissolution, liquidation or winding-up of the Corporation,

then, and in each such case, the Corporation will send or cause to be sent to the holders of the Preferred Stock a notice specifying, as the case may be, (i) the record date for such dividend, distribution or subscription right, and the amount and character of such dividend, distribution or subscription right, or (ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up is proposed to take place, and the time, if any is to be fixed, as of which the holders of record of Common Stock (or such other capital stock or securities at the time issuable upon the conversion of the Preferred Stock) shall be entitled to exchange their shares of Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up, and the amount per share and character of such exchange applicable to the Preferred Stock and the Common Stock. Such notice shall be sent (A) at least twenty (20) days prior to the earlier of the record date or effective date for the event specified in such notice or (B) such fewer number of days as may be approved

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by the holders of a majority of the outstanding shares of Preferred Stock (voting together as a single class on an as-converted basis).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>**. Except as otherwise provided herein, any notice required or permitted by the provisions of this Article IV to be given to a holder of shares of Preferred Stock shall be mailed, postage prepaid, to the post office address last shown on the records of the Corporation for such holder, given by the holder to the Corporation for the purpose of notice or given by electronic communication in compliance with the provisions of the General Corporation Law, and shall be deemed sent upon such mailing or electronic transmission. If no such address appears or is given, notice shall be deemed given at the place where the principal executive office of the Corporation is located.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Redemption</u>**. The Preferred Stock is not redeemable at the option of the holder thereof.

**<u>ARTICLE V: PREEMPTIVE RIGHTS</u>**.

No stockholder of the Corporation shall have a right to purchase shares of capital stock of the Corporation sold or issued by the Corporation except to the extent that such a right may from time to time be set forth in a written agreement between the Corporation and any stockholder.

**<u>ARTICLE VI: STOCK REPURCHASES</u>**.

In accordance with Section 500 of the California Corporations Code, a distribution can be made without regard to any preferential dividends arrears amount (as defined in Section 500 of the California Corporations Code) or any preferential rights amount (as defined in Section 500 of the California Corporations Code) in connection with (i) repurchases of Common Stock issued to or held by employees, officers, directors or consultants of the Corporation or its subsidiaries upon termination of their employment or services pursuant to agreements providing for the right of said repurchase, (ii) repurchases of Common Stock issued to or held by employees, officers, directors or consultants of the Corporation or its subsidiaries pursuant to rights of first refusal contained in agreements providing for such right, (iii) repurchases of Common Stock or Preferred Stock in connection with the settlement of disputes with any stockholder, or (iv) any other repurchase or redemption of Common Stock or Preferred Stock approved by the holders of Preferred Stock of the Corporation.

**<u>ARTICLE VII: BYLAW PROVISIONS</u>**.

**A.&nbsp;&nbsp;&nbsp;&nbsp;AMENDMENT OF BYLAWS**. Subject to any additional vote required by this Restated Certificate or the Bylaws, in furtherance and not in limitation of the powers conferred by statute, the Board is expressly authorized to make, repeal, alter, amend and rescind any or all of the Bylaws of the Corporation.

**B.&nbsp;&nbsp;&nbsp;&nbsp;NUMBER OF DIRECTORS**. Subject to any additional vote required by this Restated Certificate, the number of directors of the Corporation shall be determined in the manner set forth in the Bylaws of the Corporation.

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**C.&nbsp;&nbsp;&nbsp;&nbsp;BALLOT**. Elections of directors need not be by written ballot unless the Bylaws of the Corporation shall so provide.

**D.&nbsp;&nbsp;&nbsp;&nbsp;MEETINGS AND BOOKS**. Meetings of stockholders may be held within or without the State of Delaware, as the Bylaws of the Corporation may provide. The books of the Corporation may be kept outside the State of Delaware at such place or places as may be designated from time to time by the Board or in the Bylaws of the Corporation.

**<u>ARTICLE VIII: DIRECTOR LIABILITY</u>**.

**A.&nbsp;&nbsp;&nbsp;&nbsp;LIMITATION**. To the fullest extent permitted by law, a director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director. If the General Corporation Law or any other law of the State of Delaware is amended after approval by the stockholders of this Article VIII to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the General Corporation Law as so amended. Any repeal or modification of the foregoing provisions of this Article VIII by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of, or increase the liability of any director of the Corporation with respect to any acts or omissions of such director occurring prior to, such repeal or modification.

**B.&nbsp;&nbsp;&nbsp;&nbsp;INDEMNIFICATION**. To the fullest extent permitted by applicable law, the Corporation is authorized to provide indemnification of (and advancement of expenses to) directors, officers and agents of the Corporation (and any other persons to which General Corporation Law permits the Corporation to provide indemnification) through Bylaw provisions, agreements with such agents or other persons, vote of stockholders or disinterested directors or otherwise, in excess of the indemnification and advancement otherwise permitted by Section 145 of the General Corporation Law.

**C.&nbsp;&nbsp;&nbsp;&nbsp;MODIFICATION**. Any amendment, repeal or modification of the foregoing provisions of this Article VIII shall not adversely affect any right or protection of any director, officer or other agent of the Corporation existing at the time of such amendment, repeal or modification.

**<u>ARTICLE IX: CORPORATE OPPORTUNITIES</u>**.

The Corporation renounces, to the fullest extent permitted by law, any interest or expectancy of the Corporation in, or in being offered an opportunity to participate in, any Excluded Opportunity. An "***Excluded Opportunity***" is any matter, transaction or interest that is presented to, or acquired, created or developed by, or which otherwise comes into the possession of, (i) any director of the Corporation who is not an employee of the Corporation or any of its subsidiaries, or (ii) any holder of Preferred Stock or any partner, member, director, stockholder, employee or agent of any such holder, other than someone who is an employee of the Corporation or any of its subsidiaries (collectively, "***Covered Persons***"), unless such matter, transaction or interest is presented to, or acquired, created or developed by, or otherwise comes

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into the possession of, a Covered Person expressly and solely in such Covered Person's capacity as a director of the Corporation.

**<u>ARTICLE X: CREDITOR AND STOCKHOLDER COMPROMISES</u>**

Whenever a compromise or arrangement is proposed between the Corporation and its creditors or any class of them and/or between the Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of the Corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for the Corporation under the provisions of §291 of Title 8 of the General Corporation Law or on the application of trustees in dissolution or of any receiver or receivers appointed for this Corporation under §279 of Title 8 of the General Corporation Law order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the Corporation, as the case may be, to be summoned in such manner as the said court directs. If a majority in number representing three-fourths in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the Corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of the Corporation as a consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganization shall, if sanctioned by the court to which the said application has been made, be binding on all the creditors or class of creditors, and/or on all the stockholders or class of stockholders, of the Corporation, as the case may be, and also on the Corporation.

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## Exhibit 3.3

**Exhibit 3.3**

**<u>KEEP TRUCKIN, INC.</u>**

a Delaware Corporation

**<u>BYLAWS</u>**

As Adopted March 19, 2013

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**<u>KEEP TRUCKIN, INC.</u>**

a Delaware Corporation

**<u>BYLAWS</u>**

As Adopted March 19, 2013

**ARTICLE I: STOCKHOLDERS**

**<u>Section 1.1</u>: <u>Annual Meetings</u>.** Unless members of the Board of Directors of the Corporation (the "***Board***") are elected by written consent in lieu of an annual meeting, as permitted by Section 211 of the Delaware General Corporation Law (the "***DGCL***") and these Bylaws, an annual meeting of stockholders shall be held for the election of directors at such date and time as the Board shall each year fix. The meeting may be held either at a place, within or without the State of Delaware, or by means of remote communication as the Board in its sole discretion may determine. Any proper business may be transacted at the annual meeting.

**<u>Section 1.2</u>: <u>Special Meetings</u>.** Special meetings of stockholders for any purpose or purposes may be called at any time by the Chairperson of the Board, the Chief Executive Officer, the President, the holders of shares of the Corporation that are entitled to cast not less than ten percent (10%) of the total number of votes entitled to be cast by all stockholders at such meeting, or by a majority of the "***Whole Board***," which shall mean the total number of authorized directors, whether or not there exist any vacancies in previously authorized directorships. Special meetings may not be called by any other person or persons. If a special meeting of stockholders is called by any person or persons other than by a majority of the members of the Board, then such person or persons shall request such meeting by delivering a written request to call such meeting to each member of the Board, and the Board shall then determine the time and date of such special meeting, which shall be held not more than one hundred twenty (120) days nor less than thirty-five (35) days after the written request to call such special meeting was delivered to each member of the Board. The special meeting may be held either at a place, within or without the State of Delaware, or by means of remote communication as the Board in its sole discretion may determine.

**<u>Section 1.3</u>: <u>Notice of Meetings</u>.** Notice of all meetings of stockholders shall be given in writing or by electronic transmission in the manner provided by law (including, without limitation, as set forth in Section 7.1.1 of these Bylaws) stating the date, time and place, if any, of the meeting and, in the case of a special meeting, the purpose or purposes for which the meeting is called. Unless otherwise required by applicable law or the Certificate of Incorporation of the Corporation (the "***Certificate of Incorporation***"), such notice shall be given not less than ten (10), nor more than sixty (60), days before the date of the meeting to each stockholder of record entitled to vote at such meeting.

**<u>Section 1.4</u>: <u>Adjournments</u>.** The chairperson of the meeting shall have the power to adjourn the meeting to another time, date and place (if any). Any meeting of stockholders may adjourn from time to time, and notice need not be given of any such adjourned meeting if the

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time, date and place (if any) thereof and the means of remote communications (if any) by which stockholders and proxy holders may be deemed to be present in person and vote at such adjourned meeting are announced at the meeting at which the adjournment is taken; *<u>provided</u>*, *<u>however</u>*, that if the adjournment is for more than thirty (30) days, or if a new record date is fixed for the adjourned meeting, then a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting. At the adjourned meeting the Corporation may transact any business that might have been transacted at the original meeting. To the fullest extent permitted by law, the Board may postpone or reschedule any previously scheduled special or annual meeting of stockholders before it is to be held, in which case notice shall be provided to the stockholders of the new date, time and place, if any, of the meeting as provided in Section 1.3 above.

**<u>Section 1.5</u>: <u>Quorum</u>.** At each meeting of stockholders the holders of a majority of the voting power of the shares of stock entitled to vote at the meeting, present in person or represented by proxy, shall constitute a quorum for the transaction of business, unless otherwise required by applicable law. If a quorum shall fail to attend any meeting, the chairperson of the meeting or the holders of a majority of the shares entitled to vote who are present, in person or by proxy, at the meeting may adjourn the meeting. Shares of the Corporation's stock belonging to the Corporation (or to another corporation, if a majority of the shares entitled to vote in the election of directors of such other corporation are held, directly or indirectly, by the Corporation), shall neither be entitled to vote nor be counted for quorum purposes; *<u>provided</u>*, *<u>however</u>*, that the foregoing shall not limit the right of the Corporation or any other corporation to vote any shares of the Corporation's stock held by it in a fiduciary capacity and to count such shares for purposes of determining a quorum.

**<u>Section 1.6</u>: <u>Organization</u>.** Meetings of stockholders shall be presided over by such person as the Board may designate, or, in the absence of such a person, the Chairperson of the Board, or, in the absence of such person, the President of the Corporation, or, in the absence of such person, such person as may be chosen by the holders of a majority of the voting power of the shares entitled to vote who are present, in person or by proxy, at the meeting. Such person shall be chairperson of the meeting and, subject to Section 1.11 hereof, shall determine the order of business and the procedure at the meeting, including such regulation of the manner of voting and the conduct of discussion as seems to him or her to be in order. The Secretary of the Corporation shall act as secretary of the meeting, but in such person's absence the chairperson of the meeting may appoint any person to act as secretary of the meeting.

**<u>Section 1.7</u>: <u>Voting; Proxies</u>.** Each stockholder entitled to vote at a meeting of stockholders, or to take corporate action by written consent without a meeting, may authorize another person or persons to act for such stockholder by proxy. Such a proxy may be prepared, transmitted and delivered in any manner permitted by applicable law. Except as may be required in the Certificate of Incorporation, directors shall be elected by a plurality of the votes of the shares present in person or represented by proxy at the meeting and entitled to vote on the election of directors. Unless otherwise provided by applicable law, the Certificate of Incorporation or these Bylaws, every matter other than the election of directors shall be decided by the affirmative vote of the holders of a majority of the voting power of the shares of stock

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entitled to vote on such matter that are present in person or represented by proxy at the meeting and are voted for or against the matter.

**<u>Section 1.8</u>: <u>Fixing Date for Determination of Stockholders of Record</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Generally</u>. In order that the Corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or to take corporate action by written consent without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the Board may fix, except as otherwise required by law, in advance, a record date, which shall not precede the date upon which the resolution fixing the record date is adopted by the Board and which shall not be more than sixty (60), nor less than ten (10), days before the date of such meeting, nor, except as provided in Section 1.8.2 below, more than sixty (60) days prior to any other action. If no record date is fixed by the Board, then the record date shall be as provided by applicable law. To the fullest extent provided by law, a determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; *<u>provided</u>*, *<u>however</u>*, that the Board may fix a new record date for the adjourned meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Stockholder Request for Action by Written Consent</u>. Any stockholder of record seeking to have the stockholders authorize or take corporate action by written consent without a meeting shall, by written notice to the Secretary of the Corporation, request the Board to fix a record date for such consent. Such request shall include a brief description of the action proposed to be taken. Unless a record date has previously been fixed by the Board for the written consent pursuant to this Section 1.8, the Board shall, within ten (10) days after the date on which such a request is received, adopt a resolution fixing the record date. Such record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board. If no record date has been fixed by the Board within ten (10) days after the date on which such a request is received, then the record date for determining stockholders entitled to consent to corporate action in writing without a meeting, when no prior action by the Board is required by applicable law, shall be the first date on which a signed written consent setting forth the action taken or proposed to be taken is delivered to the Corporation as required by law. If no record date has been fixed by the Board and prior action by the Board is required by applicable law, then the record date for determining stockholders entitled to consent to corporate action in writing without a meeting shall be at the close of business on the date on which the Board adopts the resolution taking such prior action.

**<u>Section 1.9</u>: <u>List of Stockholders Entitled to Vote</u>.** A complete list of stockholders entitled to vote at any meeting of stockholders, arranged in alphabetical order and showing the address of each stockholder and the number of shares registered in the name of each stockholder, shall be open to the examination of any stockholder, for any purpose germane to the meeting, during ordinary business hours, for a period of at least ten (10) days prior to the meeting, either on a reasonably accessible electronic network as permitted by law (provided that the information required to gain access to the list is provided with the notice of the meeting) or during ordinary business hours at the principal place of business of the Corporation. If the meeting is held at a

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location where stockholders may attend in person, the list shall also be produced and kept at the time and place of the meeting during the whole time thereof and may be inspected by any stockholder who is present at the meeting. If the meeting is held solely by means of remote communication, then the list shall be open to the examination of any stockholder during the whole time of the meeting on a reasonably accessible electronic network, and the information required to access the list shall be provided with the notice of the meeting.

**<u>Section 1.10</u>: <u>Action by Written Consent of Stockholders</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedure</u>. Unless otherwise provided by the Certificate of Incorporation, any action required or permitted to be taken at any annual or special meeting of the stockholders may be taken without a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed in the manner permitted by law by the holders of outstanding stock having not less than the number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted and shall be delivered to the Corporation by delivery to its registered office in the State of Delaware, to its principal place of business or to an officer or agent of the Corporation having custody of the book in which proceedings of meetings of stockholders are recorded. Delivery made to the agent of the Corporation's registered office in the State of Delaware shall be by hand or by certified or registered mail, return receipt requested. Written stockholder consents shall bear the date of signature of each stockholder who signs the consent in the manner permitted by law and shall be delivered to the Corporation as provided in Section 1.10.2 below. No written consent shall be effective to take the action set forth therein unless, within sixty (60) days of the earliest dated consent delivered to the Corporation in the manner required by law, written consents signed by a sufficient number of stockholders to take the action set forth therein are delivered to the Corporation in the manner required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Form of Consent</u> A telegram, cablegram or other electronic transmission consenting to an action to be taken and transmitted by a stockholder or proxy holder, or a person or persons authorized to act for a stockholder or proxy holder, shall be deemed to be written, signed and dated for the purposes of this section, *<u>provided</u>* that any such telegram, cablegram or other electronic transmission sets forth or is delivered with information from which the Corporation can determine (a) that the telegram, cablegram or other electronic transmission was transmitted by the stockholder or proxy holder or by a person or persons authorized to act for the stockholder or proxy holder and (b) the date on which such stockholder or proxy holder or authorized person or persons transmitted such telegram, cablegram or electronic transmission. The date on which such telegram, cablegram or electronic transmission is transmitted shall be deemed to be the date on which such consent was signed. No consent given by telegram, cablegram or other electronic transmission shall be deemed to have been delivered until such consent is reproduced in paper form and until such paper form shall be delivered to the Corporation by delivery to its registered office in the State of Delaware, its principal place of business or an officer or agent of the Corporation having custody of the book in which proceedings of meetings of stockholders are recorded. Delivery made to a Corporation's registered office shall be made by hand or by certified or registered mail, return receipt requested. Notwithstanding the foregoing limitations on delivery, consents given by telegram,

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cablegram or other electronic transmission may be otherwise delivered to the principal place of business of the Corporation or to an officer or agent of the Corporation having custody of the book in which proceedings of meetings of stockholders are recorded if, to the extent and in the manner provided by resolution of the Board. Any copy, facsimile or other reliable reproduction of a consent in writing may be substituted or used in lieu of the original writing for any and all purposes for which the original writing could be used, provided that such copy, facsimile or other reproduction shall be a complete reproduction of the entire original writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Consent</u>. Prompt notice of the taking of corporate action by stockholders without a meeting by less than unanimous written consent of the stockholders shall be given to those stockholders who have not consented thereto in writing and, who, if the action had been taken at a meeting, would have been entitled to notice of the meeting, if the record date for such meeting had been the date that written consents signed by a sufficient number of holders to take the action were delivered to the Corporation as required by law. If the action which is consented to is such as would have required the filing of a certificate under the DGCL (the "***Certificate of Action***") if such action had been voted on by stockholders at a meeting thereof, then if the DGCL so requires, the certificate so filed shall state, in lieu of any statement required by the DGCL concerning any vote of stockholders, that written stockholder consent has been given in accordance with Section 228 of the DGCL.

**<u>Section 1.11</u>: <u>Inspectors of Elections</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Applicability</u>. Unless otherwise required by the Certificate of Incorporation or by the DGCL, the following provisions of this Section 1.11 shall apply only if and when the Corporation has a class of voting stock that is: (a) listed on a national securities exchange; (b) authorized for quotation on an interdealer quotation system of a registered national securities association; or (c) held of record by more than two thousand (2,000) stockholders. In all other cases, observance of the provisions of this Section 1.11 shall be optional, and at the discretion of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Appointment</u>. The Corporation shall, in advance of any meeting of stockholders, appoint one or more inspectors of election to act at the meeting and make a written report thereof. The Corporation may designate one or more persons as alternate inspectors to replace any inspector who fails to act. If no inspector or alternate is able to act at a meeting of stockholders, the person presiding at the meeting shall appoint one or more inspectors to act at the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Inspector's Oath</u>. Each inspector of election, before entering upon the discharge of his duties, shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality and according to the best of such inspector's ability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Duties of Inspectors</u>. At a meeting of stockholders, the inspectors of election shall (a) ascertain the number of shares outstanding and the voting power of each share, (b) determine the shares represented at a meeting and the validity of proxies and ballots, (c) count all votes and ballots, (d) determine and retain for a reasonable period of time a record of the disposition of any challenges made to any determination by the inspectors, and (e) certify their determination of the

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number of shares represented at the meeting, and their count of all votes and ballots. The inspectors may appoint or retain other persons or entities to assist the inspectors in the performance of the duties of the inspectors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Opening and Closing of Polls</u>. The date and time of the opening and the closing of the polls for each matter upon which the stockholders will vote at a meeting shall be announced by the chairperson of the meeting at the meeting. No ballot, proxies or votes, nor any revocations thereof or changes thereto, shall be accepted by the inspectors after the closing of the polls unless the Court of Chancery upon application by a stockholder shall determine otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Determinations</u>. In determining the validity and counting of proxies and ballots, the inspectors shall be limited to an examination of the proxies, any envelopes submitted with those proxies, any information provided in connection with proxies in accordance with any information provided pursuant to Section 21l(a)(2)(B)(i) of the DGCL, or Sections 21l(e) or 212(c)(2) of the DGCL, ballots and the regular books and records of the Corporation, except that the inspectors may consider other reliable information for the limited purpose of reconciling proxies and ballots submitted by or on behalf of banks, brokers, their nominees or similar persons which represent more votes than the holder of a proxy is authorized by the record owner to cast or more votes than the stockholder holds of record. If the inspectors consider other reliable information for the limited purpose permitted herein, the inspectors at the time they make their certification of their determinations pursuant to this Section 1.11 shall specify the precise information considered by them, including the person or persons from whom they obtained the information, when the information was obtained, the means by which the information was obtained and the basis for the inspectors' belief that such information is accurate and reliable.

**ARTICLE II: BOARD OF DIRECTORS**

**<u>Section 2.1</u>: <u>Number; Qualifications</u>.** The Board shall consist of one or more members. The initial number of directors shall be One (1), and, thereafter, unless otherwise required by law or the Certificate of Incorporation, shall be fixed from time to time by resolution of a majority of the Whole Board or the stockholders of the Corporation holding at least a majority of the voting power of the Corporation's outstanding stock then entitled to vote at an election of directors. No decrease in the authorized number of directors constituting the Board shall shorten the term of any incumbent director. Directors need not be stockholders of the Corporation.

**<u>Section 2.2</u>: <u>Election; Resignation; Removal; Vacancies</u>.** The Board shall initially consist of the person or persons elected by the incorporator or named in the Corporation's initial Certificate of Incorporation. Each director shall hold office until the next annual meeting of stockholders and until such director's successor is elected and qualified, or until such director's earlier death, resignation or removal. Any director may resign at any time upon written notice to the Corporation. Subject to the rights of any holders of Preferred Stock then outstanding: (a) any director or the entire Board may be removed, with or without cause, by the holders of a majority of the shares then entitled to vote at an election of directors and (b) any vacancy occurring in the Board for any reason, and any newly created directorship resulting from any increase in the authorized number of directors to be elected by all stockholders having the right to vote as a

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single class, may be filled by the stockholders, by a majority of the directors then in office, although less than a quorum, or by a sole remaining director.

**<u>Section 2.3</u>: <u>Regular Meetings</u>.** Regular meetings of the Board may be held at such places, within or without the State of Delaware, and at such times as the Board may from time to time determine. Notice of regular meetings need not be given if the date, times and places thereof are fixed by resolution of the Board.

**<u>Section 2.4</u>: <u>Special Meetings</u>.** Special meetings of the Board may be called by the Chairperson of the Board, the President or a majority of the members of the Board then in office and may be held at any time, date or place, within or without the State of Delaware, as the person or persons calling the meeting shall fix. Notice of the time, date and place of such meeting shall be given, orally, in writing or by electronic transmission (including electronic mail), by the person or persons calling the meeting to all directors at least four (4) days before the meeting if the notice is mailed, or at least twenty-four (24) hours before the meeting if such notice is given by telephone, hand delivery, telegram, telex, mailgram, facsimile, electronic mail or other means of electronic transmission. Unless otherwise indicated in the notice, any and all business may be transacted at a special meeting.

**<u>Section 2.5</u>: <u>Remote Meetings Permitted</u>.** Members of the Board, or any committee of the Board, may participate in a meeting of the Board or such committee by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and participation in a meeting pursuant to conference telephone or other communications equipment shall constitute presence in person at such meeting.

**<u>Section 2.6</u>: <u>Quorum; Vote Required for Action</u>.** At all meetings of the Board a majority of the Whole Board shall constitute a quorum for the transaction of business. If a quorum shall fail to attend any meeting, a majority of those present may adjourn the meeting to another place, date or time without further notice thereof. Except as otherwise provided herein or in the Certificate of Incorporation, or required by law, the vote of a majority of the directors present at a meeting at which a quorum is present shall be the act of the Board.

**<u>Section 2.7</u>: <u>Organization</u>.** Meetings of the Board shall be presided over by the Chairperson of the Board, or in such person's absence by the President, or in such person's absence by a chairperson chosen at the meeting. The Secretary shall act as secretary of the meeting, but in such person's absence the chairperson of the meeting may appoint any person to act as secretary of the meeting.

**<u>Section 2.8</u>: <u>Written Action by Directors</u>.** Any action required or permitted to be taken at any meeting of the Board, or of any committee thereof, may be taken without a meeting if all members of the Board or such committee, as the case may be, consent thereto in writing or by electronic transmission, and the writing or writings or electronic transmission or transmissions are filed with the minutes of proceedings of the Board or committee, respectively, in the minute books of the Corporation. Such filing shall be in paper form if the minutes are maintained in paper form and shall be in electronic form if the minutes are maintained in electronic form.

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**<u>Section 2.9</u>: <u>Powers</u>.** The Board may, except as otherwise required by law or the Certificate of Incorporation, exercise all such powers and manage and direct all such acts and things as may be exercised or done by the Corporation.

**<u>Section 2.10</u>: <u>Compensation of Directors</u>.** Members of the Board, as such, may receive, pursuant to a resolution of the Board, fees and other compensation for their services as directors, including without limitation their services as members of committees of the Board.

**ARTICLE III: COMMITTEES**

**<u>Section 3.1</u>: <u>Committees</u>.** The Board may designate one or more committees, each committee to consist of one or more of the directors of the Corporation. The Board may designate one or more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. In the absence or disqualification of a member of the committee, the member or members thereof present at any meeting of such committee who are not disqualified from voting, whether or not such member or members constitute a quorum, may unanimously appoint another member of the Board to act at the meeting in place of any such absent or disqualified member. Any such committee, to the extent provided in a resolution of the Board, shall have and may exercise all the powers and authority of the Board in the management of the business and affairs of the Corporation and may authorize the seal of the Corporation to be affixed to all papers that may require it; but no such committee shall have the power or authority in reference to the following matters: (a) approving, adopting, or recommending to the stockholders any action or matter (other than the election or removal of members of the Board) expressly required by the DGCL to be submitted to stockholders for approval or (b) adopting, amending or repealing any bylaw of the Corporation.

**<u>Section 3.2</u>: <u>Committee Rules</u>.** Unless the Board otherwise provides, each committee designated by the Board may make, alter and repeal rules for the conduct of its business. In the absence of such rules each committee shall conduct its business in the same manner as the Board conducts its business pursuant to Article II of these Bylaws.

**ARTICLE IV: OFFICERS**

**<u>Section 4.1</u>: <u>Generally</u>.** The officers of the Corporation shall consist of a Chief Executive Officer (who may be the Chairperson of the Board or the President), a Secretary and a Treasurer and may consist of such other officers, including a Chief Financial Officer, Chief Technology Officer and one or more Vice Presidents, as may from time to time be appointed by the Board. All officers shall be elected by the Board; *<u>provided</u>*, *<u>however</u>*, that the Board may empower the Chief Executive Officer of the Corporation to appoint any officer other than the Chairperson of the Board, the Chief Executive Officer, the President, the Chief Financial Officer or the Treasurer. Each officer shall hold office until such person's successor is appointed or until such person's earlier resignation, death or removal. Any number of offices may be held by the same person. Any officer may resign at any time upon written notice to the Corporation. Any vacancy occurring in any office of the Corporation by death, resignation, removal or otherwise may be filled by the Board.

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**<u>Section 4.2</u>: <u>Chief Executive Officer</u>.** Subject to the control of the Board and such supervisory powers, if any, as may be given by the Board, the powers and duties of the Chief Executive Officer of the Corporation are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;To act as the general manager and, subject to the control of the Board, to have general supervision, direction and control of the business and affairs of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Article I, Section 1.6, to preside at all meetings of the stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Article I, Section 1.2, to call special meetings of the stockholders to be held at such times and, subject to the limitations prescribed by law or by these Bylaws, at such places as he or she shall deem proper; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;To affix the signature of the Corporation to all deeds, conveyances, mortgages, guarantees, leases, obligations, bonds, certificates and other papers and instruments in writing which have been authorized by the Board or which, in the judgment of the Chief Executive Officer, should be executed on behalf of the Corporation; to sign certificates for shares of stock of the Corporation; and, subject to the direction of the Board, to have general charge of the property of the Corporation and to supervise and control all officers, agents and employees of the Corporation.

The President shall be the Chief Executive Officer of the Corporation unless the Board shall designate another officer to be the Chief Executive Officer. If there is no President, and the Board has not designated any other officer to be the Chief Executive Officer, then the Chairperson of the Board shall be the Chief Executive Officer.

**<u>Section 4.3</u>: <u>Chairperson of the Board</u>.** The Chairperson of the Board shall have the power to preside at all meetings of the Board and shall have such other powers and duties as provided in these Bylaws and as the Board may from time to time prescribe.

**<u>Section 4.4</u>: <u>President</u>.** The President shall be the Chief Executive Officer of the Corporation unless the Board shall have designated another officer as the Chief Executive Officer of the Corporation. Subject to the provisions of these Bylaws and to the direction of the Board, and subject to the supervisory powers of the Chief Executive Officer (if the Chief Executive Officer is an officer other than the President), and subject to such supervisory powers and authority as may be given by the Board to the Chairperson of the Board, and/or to any other officer, the President shall have the responsibility for the general management and control of the business and affairs of the Corporation and the general supervision and direction of all of the officers, employees and agents of the Corporation (other than the Chief Executive Officer, if the Chief Executive Officer is an officer other than the President) and shall perform all duties and have all powers that are commonly incident to the office of President or that are delegated to the President by the Board.

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**<u>Section 4.5</u>: <u>Vice President</u>.** Each Vice President shall have all such powers and duties as are commonly incident to the office of Vice President, or that are delegated to him or her by the Board or the Chief Executive Officer. A Vice President may be designated by the Board to perform the duties and exercise the powers of the Chief Executive Officer in the event of the Chief Executive Officer's absence or disability.

**<u>Section 4.6</u>: <u>Chief Financial Officer</u>.** The Chief Financial Officer shall be the Treasurer of the Corporation unless the Board shall have designated another officer as the Treasurer of the Corporation. Subject to the direction of the Board and the Chief Executive Officer, the Chief Financial Officer shall perform all duties and have all powers that are commonly incident to the office of Chief Financial Officer.

**<u>Section 4.7</u>: <u>Treasurer</u>.** The Treasurer shall have custody of all moneys and securities of the Corporation. The Treasurer shall make such disbursements of the funds of the Corporation as are authorized and shall render from time to time an account of all such transactions. The Treasurer shall also perform such other duties and have such other powers as are commonly incident to the office of Treasurer, or as the Board or the Chief Executive Officer may from time to time prescribe.

**<u>Section 4.8</u>: <u>Chief Technology Officer</u>.** The Chief Technology Officer shall have responsibility for the general research and development activities of the Corporation, for supervision of the Corporation's research and development personnel, for new product development and product improvements, for overseeing the development and direction of the Corporation's intellectual property development and such other responsibilities as may be given to the Chief Technology Officer by the Board, subject to: (a) the provisions of these Bylaws; (b) the direction of the Board; (c) the supervisory powers of the Chief Executive Officer of the Corporation; and (d) those supervisory powers that may be given by the Board to the Chairperson or Vice Chairperson of the Board.

**<u>Section 4.9</u>: <u>Secretary</u>.** The Secretary shall issue or cause to be issued all authorized notices for, and shall keep, or cause to be kept, minutes of all meetings of the stockholders and the Board. The Secretary shall have charge of the corporate minute books and similar records and shall perform such other duties and have such other powers as are commonly incident to the office of Secretary, or as the Board or the Chief Executive Officer may from time to time prescribe.

**<u>Section 4.10</u>: <u>Delegation of Authority</u>.** The Board may from time to time delegate the powers or duties of any officer to any other officers or agents, notwithstanding any provision hereof.

**<u>Section 4.11</u>: <u>Removal</u>.** Any officer of the Corporation shall serve at the pleasure of the Board and may be removed at any time, with or without cause, by the Board; provided that if the Board has empowered the Chief Executive Officer to appoint any Vice Presidents of the Corporation, then such Vice Presidents may be removed by the Chief Executive Officer. Such removal shall be without prejudice to the contractual rights of such officer, if any, with the Corporation.

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**ARTICLE V: STOCK**

**<u>Section 5.1</u>: <u>Certificates</u>.** The shares of capital stock of the Corporation shall be represented by certificates; *<u>provided</u>*, *<u>however</u>*, that the Board may provide by resolution or resolutions that some or all of any or all classes or series of its stock may be uncertificated shares. Any such resolution shall not apply to shares represented by a certificate until such certificate is surrendered to the Corporation (or the transfer agent or registrar, as the case may be). Notwithstanding the adoption of such resolution by the Board, every holder of stock that is a certificated security shall be entitled to have a certificate signed by or in the name of the Corporation by the Chairperson or Vice-Chairperson of the Board, or the President or a Vice President, and by the Treasurer or an Assistant Treasurer, or the Secretary or an Assistant Secretary, of the Corporation, certifying the number of shares owned by such stockholder in the Corporation. Any or all of the signatures on the certificate may be a facsimile. In case any officer, transfer agent or registrar who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the Corporation with the same effect as if such person were an officer, transfer agent or registrar at the date of issue. If any holder of uncertificated shares elects to receive a certificate, the Corporation (or the transfer agent or registrar, as the case may be) shall, to the extent permitted under applicable law and rules, regulations and listing requirements of any stock exchange or stock market on which the Corporation's shares are listed or traded, cease to provide annual statements indicating such holder's holdings of shares in the Corporation.

**<u>Section 5.2</u>: <u>Lost, Stolen or Destroyed Stock Certificates; Issuance of New</u> <u>Certificates</u>.** The Corporation may issue a new certificate of stock, or uncertificated shares, in the place of any certificate previously issued by it, alleged to have been lost, stolen or destroyed, , upon the making of an affidavit of that fact by the person claiming the certificate of stock to be lost, stolen or destroyed, and the Corporation may require the owner of the lost, stolen or destroyed certificate, or such owner's legal representative, to agree to indemnify the Corporation and/or to give the Corporation a bond sufficient to indemnify it, against any claim that may be made against it on account of the alleged loss, theft or destruction of any such certificate or the issuance of such new certificate.

**<u>Section 5.3</u>: <u>Other Regulations</u>.** The issue, transfer, conversion and registration of stock certificates and uncertificated securities shall be governed by such other regulations as the Board may establish.

**ARTICLE VI: INDEMNIFICATION**

**<u>Section 6.1</u>: <u>Indemnification of Officers and Directors</u>.** Each person who was or is made a party to, or is threatened to be made a party to, or is involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (a "***Proceeding***"), by reason of the fact that such person (or a person of whom such person is the legal representative), is or was a member of the Board or officer of the Corporation or a Reincorporated Predecessor (as defined below) or is or was serving at the request of the Corporation or a Reincorporated Predecessor as a member of the board of directors, officer or trustee of another corporation, or of

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a partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans (for purposes of this Article VI, an "***Indemnitee***"), shall be indemnified and held harmless by the Corporation to the fullest extent permitted by applicable law, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than such law permitted the Corporation to provide prior to such amendment), against all expenses, liability and loss (including attorneys' fees, judgments, fines, ERISA excise taxes and penalties and amounts paid or to be paid in settlement) reasonably incurred or suffered by such Indemnitee in connection therewith, provided such Indemnitee acted in good faith and in a manner that the Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or Proceeding, had no reasonable cause to believe the Indemnitee's conduct was unlawful. Such indemnification shall continue as to an Indemnitee who has ceased to be a director or officer and shall inure to the benefit of such Indemnitees' heirs, executors and administrators. Notwithstanding the foregoing, the Corporation shall indemnify any such Indemnitee seeking indemnity in connection with a Proceeding (or part thereof) initiated by such Indemnitee only if such Proceeding (or part thereof) was authorized by the Board or such indemnification is authorized by an agreement approved by the Board. As used herein, the term the "***Reincorporated Predecessor***" means a corporation that is merged with and into the Corporation in a statutory merger where (a) the Corporation is the surviving corporation of such merger; (b) the primary purpose of such merger is to change the corporate domicile of the Reincorporated Predecessor to Delaware.

**<u>Section 6.2</u>: <u>Advance of Expenses</u>.** The Corporation shall pay all expenses (including attorneys' fees) incurred by such an Indemnitee in defending any such Proceeding as they are incurred in advance of its final disposition; *<u>provided</u>*, *<u>however</u>*, that (a) if the DGCL then so requires, the payment of such expenses incurred by such an Indemnitee in advance of the final disposition of such Proceeding shall be made only upon delivery to the Corporation of an undertaking, by or on behalf of such Indemnitee, to repay all amounts so advanced if it should be determined ultimately by final judicial decision from which there is no appeal that such Indemnitee is not entitled to be indemnified under this Article VI or otherwise; and (b) the Corporation shall not be required to advance any expenses to a person against whom the Corporation directly brings a claim, in a Proceeding, alleging that such person has breached such person's duty of loyalty to the Corporation, committed an act or omission not in good faith or that involves intentional misconduct or a knowing violation of law, or derived an improper personal benefit from a transaction.

**<u>Section 6.3</u>: <u>Non-Exclusivity of Rights</u>.** The rights conferred on any person in this Article VI shall not be exclusive of any other right that such person may have or hereafter acquire under any statute, provision of the Certificate of Incorporation, Bylaw, agreement, vote or consent of stockholders or disinterested directors, or otherwise. Additionally, nothing in this Article VI shall limit the ability of the Corporation, in its discretion, to indemnify or advance expenses to persons whom the Corporation is not obligated to indemnify or advance expenses pursuant to this Article VI.

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**<u>Section 6.4</u>: <u>Indemnification Contracts</u>.** The Board is authorized to cause the Corporation to enter into indemnification contracts with any director, officer, employee or agent of the Corporation, or any person serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, including employee benefit plans, providing indemnification or advancement rights to such person. Such rights may be greater than those provided in this Article VI.

**<u>Section 6.5</u>: <u>Right of Indemnitee to Bring Suit</u>.** The following shall apply to the extent not in conflict with any indemnification contract provided for in Section 6.4 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Bring Suit</u>. If a claim under Section 6.1 or 6.2 of this Article VI is not paid in full by the Corporation within sixty (60) days after a written claim has been received by the Corporation, except in the case of a claim for an advancement of expenses, in which case the applicable period shall be twenty (20) days, the Indemnitee may at any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim. If successful in whole or in part in any such suit, or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the Indemnitee shall be entitled to be paid also the expense of prosecuting or defending such suit. In (a) any suit brought by the Indemnitee to enforce a right to indemnification hereunder (but not in a suit brought by the Indemnitee to enforce a right to an advancement of expenses) it shall be a defense that, and (b) in any suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the Corporation shall be entitled to recover such expenses upon a final adjudication that, the Indemnitee has not met any applicable standard for indemnification set forth in applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Determination</u>. Neither the failure of the Corporation (including its directors who are not parties to such action, a committee of such directors, independent legal counsel or its stockholders) to have made a determination prior to the commencement of such suit that indemnification of the Indemnitee is proper in the circumstances because the Indemnitee has met the applicable standard of conduct set forth in applicable law, nor an actual determination by the Corporation (including its directors who are not parties to such action, a committee of such directors, independent legal counsel or its stockholders) that the Indemnitee has not met such applicable standard of conduct, shall create a presumption that the Indemnitee has not met the applicable standard of conduct or, in the case of such a suit brought by the Indemnitee, be a defense to such suit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Burden of Proof</u>. In any suit brought by the Indemnitee to enforce a right to indemnification or to an advancement of expenses hereunder, or brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the burden of proving that the Indemnitee is not entitled to be indemnified, or to such advancement of expenses, under this Article VI, or otherwise, shall be on the Corporation.

**<u>Section 6.6</u>: <u>Nature of Rights</u>.** The rights conferred upon Indemnitees in this Article VI shall be contract rights and such rights shall continue as to an Indemnitee who has ceased to be a director, officer or trustee and shall inure to the benefit of the Indemnitee's heirs, executors and administrators. Any amendment, repeal or modification of any provision of this Article VI that

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adversely affects any right of an Indemnitee or an Indemnitee's successors shall be prospective only, and shall not adversely affect any right or protection conferred on a person pursuant to this Article VI and existing at the time of such amendment, repeal or modification.

**ARTICLE VII: NOTICES**

**<u>Section 7.1</u>: <u>Notice</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Form and Delivery</u>. Except as otherwise specifically required in these Bylaws (including, without limitation, Section 7.1.2 below) or by law, all notices required to be given pursuant to these Bylaws shall be in writing and may, (a) in every instance in connection with any delivery to a member of the Board, be effectively given by hand delivery (including use of a delivery service), by depositing such notice in the mail, postage prepaid, or by sending such notice by prepaid telegram, cablegram, overnight express courier, facsimile, electronic mail or other form of electronic transmission and (b) be effectively be delivered to a stockholder when given by hand delivery, by depositing such notice in the mail, postage prepaid or, if specifically consented to by the stockholder as described in Section 7.1.2 of this Article VII by sending such notice by telegram, cablegram, facsimile, electronic mail or other form of electronic transmission. Any such notice shall be addressed to the person to whom notice is to be given at such person's address as it appears on the records of the Corporation. The notice shall be deemed given (a) in the case of hand delivery, when received by the person to whom notice is to be given or by any person accepting such notice on behalf of such person, (b) in the case of delivery by mail, upon deposit in the mail, (c) in the case of delivery by overnight express courier, when dispatched, and (d) in the case of delivery via telegram, cablegram, facsimile, electronic mail or other form of electronic transmission, when dispatched.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Transmission</u>. Without limiting the manner by which notice otherwise may be given effectively to stockholders, any notice to stockholders given by the Corporation under any provision of the DGCL, the Certificate of Incorporation, or these Bylaws shall be effective if given by a form of electronic transmission consented to by the stockholder to whom the notice is given in accordance with Section 232 of the DGCL. Any such consent shall be revocable by the stockholder by written notice to the Corporation. Any such consent shall be deemed revoked if (a) the Corporation is unable to deliver by electronic transmission two consecutive notices given by the Corporation in accordance with such consent and (b) such inability becomes known to the Secretary or an Assistant Secretary of the Corporation or to the transfer agent, or other person responsible for the giving of notice; *<u>provided</u>*, *<u>however</u>*, the inadvertent failure to treat such inability as a revocation shall not invalidate any meeting or other action. Notice given pursuant to this Section 7.1.2 shall be deemed given: (i) if by facsimile telecommunication, when directed to a number at which the stockholder has consented to receive notice; (ii) if by electronic mail, when directed to an electronic mail address at which the stockholder has consented to receive notice; (iii) if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of such posting and the giving of such separate notice; and (iv) if by any other form of electronic transmission, when directed to the stockholder.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Affidavit of Giving Notice</u>. An affidavit of the Secretary or an Assistant Secretary or of the transfer agent or other agent of the Corporation that the notice has been given in writing or by a form of electronic transmission shall, in the absence of fraud, be prima facie evidence of the facts stated therein.

**<u>Section 7.2</u>: <u>Waiver of Notice</u>.** Whenever notice is required to be given under any provision of the DGCL, the Certificate of Incorporation or these Bylaws, a written waiver of notice, signed by the person entitled to notice, or waiver by electronic transmission by such person, whether before or after the time stated therein, shall be deemed equivalent to notice. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting at the beginning of the meeting to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the stockholders, directors or members of a committee of directors need be specified in any waiver of notice.

**ARTICLE VIII: INTERESTED DIRECTORS**

**<u>Section 8.1</u>: <u>Interested Directors</u>.** No contract or transaction between the Corporation and one or more of its members of the Board or officers, or between the Corporation and any other corporation, partnership, association or other organization in which one or more of its directors or officers are members of the board of directors or officers, or have a financial interest, shall be void or voidable solely for this reason, or solely because the director or officer is present at or participates in the meeting of the Board or committee thereof that authorizes the contract or transaction, or solely because his, her or their votes are counted for such purpose, if: (a) the material facts as to his, her or their relationship or interest and as to the contract or transaction are disclosed or are known to the Board or the committee, and the Board or committee in good faith authorizes the contract or transaction by the affirmative votes of a majority of the disinterested directors, even though the disinterested directors be less than a quorum; (b) the material facts as to his, her or their relationship or interest and as to the contract or transaction are disclosed or are known to the stockholders entitled to vote thereon, and the contract or transaction is specifically approved in good faith by vote of the stockholders; or (c) the contract or transaction is fair as to the Corporation as of the time it is authorized, approved or ratified by the Board, a committee thereof, or the stockholders.

**<u>Section 8.2</u>: <u>Quorum</u>.** Interested directors may be counted in determining the presence of a quorum at a meeting of the Board or of a committee which authorizes the contract or transaction.

**ARTICLE IX: MISCELLANEOUS**

**<u>Section 9.1</u>: <u>Fiscal Year</u>.** The fiscal year of the Corporation shall be determined by resolution of the Board.

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**<u>Section 9.2</u>: <u>Seal</u>.** The Board may provide for a corporate seal, which may have the name of the Corporation inscribed thereon and shall otherwise be in such form as may be approved from time to time by the Board.

**<u>Section 9.3</u>: <u>Form of Records</u>.** Any records maintained by the Corporation in the regular course of its business, including its stock ledger, books of account and minute books, may be kept on or by means of, or be in the form of, diskettes, CDs, or any other information storage device or method, provided that the records so kept can be converted into clearly legible paper form within a reasonable time. The Corporation shall so convert any records so kept upon the request of any person entitled to inspect such records pursuant to any provision of the DGCL.

**<u>Section 9.4</u>: <u>Reliance upon Books and Records</u>.** A member of the Board, or a member of any committee designated by the Board shall, in the performance of such person's duties, be fully protected in relying in good faith upon records of the Corporation and upon such information, opinions, reports or statements presented to the Corporation by any of the Corporation's officers or employees, or committees of the Board, or by any other person as to matters the member reasonably believes are within such other person's professional or expert competence and who has been selected with reasonable care by or on behalf of the Corporation.

**<u>Section 9.5</u>: <u>Certificate of Incorporation Governs</u>.** In the event of any conflict between the provisions of the Certificate of Incorporation and Bylaws, the provisions of the Certificate of Incorporation shall govern.

**<u>Section 9.6</u>: <u>Severability</u>.** If any provision of these Bylaws shall be held to be invalid, illegal, unenforceable or in conflict with the provisions of the Certificate of Incorporation, then such provision shall nonetheless be enforced to the maximum extent possible consistent with such holding and the remaining provisions of these Bylaws (including without limitation, all portions of any section of these Bylaws containing any such provision held to be invalid, illegal, unenforceable or in conflict with the Certificate of Incorporation, that are not themselves invalid, illegal, unenforceable or in conflict with the Certificate of Incorporation) shall remain in full force and effect.

**ARTICLE X: AMENDMENT**

Unless otherwise required by the Certificate of Incorporation, stockholders of the Corporation holding at least a majority of the voting power of the Corporation's outstanding voting stock then entitled to vote at an election of directors shall have the power to adopt, amend or repeal Bylaws. To the extent provided in the Certificate of Incorporation, the Board shall also have the power to adopt, amend or repeal Bylaws of the Corporation.

___________________

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**CERTIFICATION OF BYLAWS** 

**OF**

**<u>KEEP TRUCKIN, INC.</u>**

a Delaware Corporation

I, Obaid Khan, certify that I am Secretary of KEEP TRUCKIN, Inc., a Delaware corporation (the "***Corporation***"), that I am duly authorized to make and deliver this certification, that the attached Bylaws are a true and complete copy of the Bylaws of the Corporation in effect as of the date of this certificate.

Dated: March <u>19</u>, 2013

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| |
|:---|
| /s/ Obaid Khan |
| Obaid Khan, Secretary |

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**AMENDMENT NO. 1 TO THE** 

**BYLAWS**

**OF**

**KEEP TRUCKIN, INC., a Delaware corporation**

THIS AMENDMENT NO. 1 TO THE BYLAWS of Keep Truckin, Inc., a Delaware corporation (the "Corporation"), is made as of May 1, 2017.

1.&nbsp;&nbsp;&nbsp;&nbsp;The Bylaws of the Corporation are hereby amended by replacing Section 1.2 to read in its entirety as follows:

**"Section 1.2: Special Meetings.** Special meetings of the stockholders for any purpose or purposes may be called at any time by the Chairperson of the Board, the Chief Executive Officer, the President, the holders of shares of the Corporation that are entitled to cast not less than ten percent (10%) of the total number of votes entitled to be cast by all stockholders at such meeting, or by a majority of the "***Whole Board***," which shall mean the total number of directors then in office. Special meetings may not be called by any other person or persons. If a special meeting of stockholders is called by any person or persons other than by a majority of the members of the Board, then such person or persons shall request such meeting by delivering a written request to call such meeting to each member of the Board, and the Board shall then determine the time and date of such special meeting, which shall be held not more than one hundred twenty (120) days nor less than thirty-five (35) days after the written request to call such special meeting was delivered to each member of the Board. The special meeting may be held either at a place, within or without the State of Delaware, or by means of remote communication as the Board in its sole discretion may determine."

2.&nbsp;&nbsp;&nbsp;&nbsp;Except as specifically amended herein, the Bylaws of the Corporation shall remain unchanged and in full force and effect.

[*Remainder of page intentionally left blank.*]

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**CERTIFICATE OF SECRETARY** 

**OF**

**KEEP TRUCKIN, INC.**

The undersigned certifies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;That the undersigned is the duly elected and acting Secretary of Keep Truckin, Inc., a Delaware corporation (the "Corporation"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;That the foregoing Amendment No. 1 to the Bylaws constitutes the entire amendment to the Bylaws of the Corporation as duly adopted by the Board of Directors and stockholders of the Corporation on May 1, 2017.

IN WITNESS WHEREOF, I have hereunto subscribed my name as of May 1, 2017.

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| |
|:---|
| /s/ Shoaib Makani |
| Shoaib Makani |
| Secretary |

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## Exhibit 4.2

**Exhibit 4.2**

**MOTIVE TECHNOLOGIES, INC. AMENDED AND RESTATED INVESTORS' RIGHTS AGREEMENT**

This Amended and Restated Investors' Rights Agreement (this "***Agreement***") is made and entered into as of May 20, 2025 by and among Motive Technologies, Inc., a Delaware corporation (the "***Company***"), each of the investors listed on <u>Schedule A</u> hereto, each of which is referred to in this Agreement as an "***Investor***," each of the stockholders listed on <u>Schedule B</u> hereto, each of whom is referred to herein as a "***Key Holder***," and any Additional Investor (as defined below) that becomes a party to this Agreement in accordance with Section 7.14 hereof.

**<u>RECITALS</u>**

WHEREAS, certain of the Investors (the "***Existing Investors***") hold shares of the Company's Series A Preferred Stock, par value $0.0001 per share (the "***Series A Preferred Stock***"), Series B Preferred Stock, par value $0.0001 per share (the "***Series B Preferred Stock***"), Series C Preferred Stock, par value $0.0001 per share (the "***Series C Preferred Stock***"), Series D Preferred Stock, par value $0.0001 per share (the "***Series D Preferred Stock***"), Series E Preferred Stock, par value $0.0001 per share (the "***Series E Preferred Stock***"), Series F Preferred Stock, par value $0.0001 per share (the "***Series F Preferred Stock***", together with the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock, and the Series E Preferred Stock, the "***Existing Preferred Stock***"), and/or shares of Common Stock (as defined below) issued upon conversion of the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock, the Series E Preferred Stock, and the Series F Preferred Stock, and possess registration rights, information rights, rights of first offer and other rights pursuant to that certain Amended and Restated Investors' Rights Agreement dated as of May 4, 2022 by and among the Company, certain holders of Common Stock, and such Existing Investors (the "***Prior Agreement***");

WHEREAS, certain of the Investors are parties to that certain Convertible Securities Purchase Agreement of even date herewith by and among the Company and certain of the Investors (the "***Purchase Agreement***") providing for the sale of convertible securities of the Company (the "***Convertible Securities***"), pursuant to which certain of the Investors may, under certain circumstances, exchange a certain number of their shares of Existing Preferred Stock for shares of the Company's Series A Senior Preferred Stock (the "***Series A Senior Preferred Stock***", together with the Series A Preferred Stock, the "***Series A Preferred***"), shares of the Company's Series B Senior Preferred Stock (the "***Series B Senior Preferred Stock***", together with the Series B Preferred Stock, the "***Series B Preferred***"), shares of the Company's Series C Senior Preferred Stock (the "***Series C Senior Preferred Stock***", together with the Series C Preferred Stock, the "***Series C Preferred***"), shares of the Company's Series D Senior Preferred Stock (the "***Series D Senior Preferred Stock***", together with the Series D Preferred Stock, the "***Series D Preferred***"), shares of the Company's Series E Senior Preferred Stock (the "***Series E Senior Preferred Stock***", together with the Series E Preferred Stock, the "***Series E Preferred***"), and shares of the Company's Series F Senior Preferred Stock (the "***Series F Senior Preferred Stock***", together with the Series F Preferred Stock, the "***Series F Preferred***") (such exchange transactions being referred to collectively herein as the "***Exchange***"); and

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WHEREAS, in connection with the Exchange, the Existing Investors and the Key Holders desire to terminate the Prior Agreement and to accept the rights created pursuant hereto in lieu of the rights granted to them under the Prior Agreement.

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises hereinafter set forth, the parties hereto hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;<u>DEFINITIONS</u>**. For purposes of this Agreement:

"***Affiliate***" means, with respect to any specified Person, such Person's principal or any other Person who or which, directly or indirectly, controls, is controlled by, or is under common control with such Person or such Person's principal, including, without limitation, any stockholder, partner, member, officer, director or employee of such Person or such Person's principal or any venture capital fund, private equity fund or other investment fund now or hereafter existing that is controlled by or under common control with one or more general partners or managing members of, or shares the same management company or advisory company with, such Person or such Person's principal. For purposes of this definition, the terms "controlling," "controlled by," or "under common control with" shall mean the possession, directly or indirectly, of (a) the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract, or otherwise, or (b) the power to elect or appoint at least 50% of the directors, managers, general partners, or persons exercising similar authority with respect to such Person.

"***Automatic Shelf Registration Statement***" shall have the meaning given to that term in SEC Rule 405.

"***business day***" means a weekday on which banks are open for general banking business in San Francisco, California.

"***C.S. Registrable Securities***" means (i) from and after the conversion of the GO Convertible Securities (as defined below) into shares of capital stock of the Company, the Common Stock issuable or issued upon conversion of such shares of capital stock, and (ii) at any time before the conversion of the GO Convertible Securities (as defined below) into shares of capital stock of the Company, the Common Stock issued or issuable (directly or indirectly) on conversion of the GO Convertible Securities as if such conversion were an End Date Conversion (as defined in the GO Convertible Securities) as of the moment in time in which a right arises under this Agreement, notwithstanding that an End Date Conversion may not actually occur by the terms of the GO Convertible Securities until the End Date (as defined in the GO Convertible Securities), and for the avoidance of doubt, using the yield and Discount Factor that would be used assuming the End Date were the time such right arises and not the actual End Date.

"***Code***" means the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder.

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"***Common Stock***" means collectively, both the Class A Common Stock of the Company, $0.0001 par value per share, and Class B Common Stock of the Company, $0.0001 par value per share.

"***Competitor***" means a Person engaged, directly or indirectly (including through any partnership, limited liability company, corporation, joint venture or similar arrangement (whether now existing or formed hereafter)) in the business of the Company, but shall not include (i) any financial investment firm or collective investment vehicle solely by virtue of its ownership (and/or its Affiliates' ownership) of an equity interest in any Competitor held solely for investment purposes, or (ii) GV 2013, L.P., GV 2015, L.P., GV 2017, L.P., or GV 2019, L.P., solely as a result of any affiliation between it and Alphabet Inc. (including any Affiliate of Alphabet Inc.).

"***Damages***" means any loss, damage, or liability (joint or several) to which a party hereto may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, or liability (or any action in respect thereof) arises out of or is based upon (a) any untrue statement or alleged untrue statement of a material fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, and any free-writing prospectus and any issuer information (as defined in Rule 433 of the Securities Act) filed or required to be filed pursuant to Rule 433(d) under the Securities Act or any other document incident to such registration prepared by or on behalf of the Company or used or referred to by the Company; (b) an omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (c) any violation or alleged violation by the indemnifying party (or any of its agents or Affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law.

"***Demand Notice***" means notice sent by the Company to the Holders specifying that a demand registration has been requested as provided in Section 3.1.1.

"***Derivative Securities***" means any securities or rights convertible into, or exercisable or exchangeable for (in each case, directly or indirectly), Common Stock, including options and warrants.

"***Deemed Liquidation Event***" has the meaning set forth for such term in the certificate of incorporation of the Company most recently filed with the Delaware Secretary of State that contains such a definition, whether or not the holders of outstanding shares of Preferred Stock elect otherwise by written notice sent to the Company as provided in such definition.

"***Exchange Act***" means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

"***Excluded Registration***" means (a) a registration relating to the sale of securities to employees of the Company or a subsidiary pursuant to an equity incentive, stock option, stock purchase, or similar plan; (b) a registration relating to an SEC Rule 145 transaction; (c) a registration on any form that does not include substantially the same information as would be

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required to be included in a registration statement covering the sale of the Registrable Securities; or (d) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered.

"***Form S-1***" means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC.

"***Form S-3***" means such form under the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits incorporation of substantial information by reference to other documents filed by the Company with the SEC.

"***Free Writing Prospectus***" means a free-writing prospectus, as defined in Rule 405 under the Securities Act.

"***GAAP***" means generally accepted accounting principles in the United States.

"***GO Convertible Securities***" means those certain GO Convertible Securities issued by the Company to GO Convertible Securities Holders (as defined below) pursuant to the GO Convertible Securities Purchase Agreement, as amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"***GO Convertible Securities Holder***" means each Investor who holds any GO Convertible Securities.

"***GO Convertible Securities Purchase Agreement***" means that certain GO Convertible Securities Purchase Agreement dated April 5, 2019 by and among the Company and each GO Convertible Securities Holder, as amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"***Holder***" means any holder of Registrable Securities who is a party to this Agreement.

"***Immediate Family Member***" means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother- in-law, or sister-in-law, including adoptive relationships, of a natural person referred to herein.

"***Initiating Holders***" means, collectively, Holders who properly initiate a registration request under this Agreement.

"***Insight***" means, collectively, the Investors Affiliated with Insight Venture Management, LLC.

"***IPO***" means the Company's first underwritten public offering of its Common Stock under the Securities Act.

"***Key Holder Registrable Securities***" means (a) the shares of Common Stock held by the Key Holders, and (b) any Common Stock issued as (or issuable upon the conversion or exercise

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of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of such shares.

"***KP***" means, Kleiner Perkins Select Fund II, LLC, for itself and as nominee for Kleiner Perkins Select Founders Fund II, LLC and Kleiner Perkins Select Friends Fund II, LLC.

"***Major Investor***" means any Investor that, individually or together with such Investor's Affiliates, holds (a) at least 6,750,000 shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification effected after the date hereof) or (b) GO Convertible Securities of at least $50,000,000 in aggregate Initial Investment Amount (as defined in the GO Convertible Securities).

"***New Securities***" means, collectively, equity securities of the Company, whether or not currently authorized, Derivative Securities and any rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for (in each case, directly or indirectly) such equity securities; *<u>provided however</u>*, that "New Securities" shall exclude: (a) Exempted Securities (as defined in the Restated Certificate); (b) shares of Common Stock issued in the IPO, a Qualified Direct Listing or a Qualified SPAC Transaction; (c) GO Convertible Securities; (d) Convertible Securities, (e) Exchange Shares (as defined in the Purchase Agreement), (f) any shares of capital stock of the Company issued upon conversion of the GO Convertible Securities; (g) any shares of capital stock of the Company issued upon conversion of the Convertible Securities; and (h) any private placement of securities effectuated concurrently with the consummation of a Qualified SPAC Transaction.

"***Person***" means any individual, corporation, partnership, trust, limited liability company, association or other entity.

"***Personal Information***" means the collection, storage, transfer (including, without limitation, any transfer across national borders) and/or use of any personally identifiable information from any individuals, including, without limitation, any customers, prospective customers, employees of the Company and/or other third parties.

"***Preferred Director***" means any of the Series B Director, the Series C Director or the Series F Director.

"***Preferred Stock***" means the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series A Senior Preferred Stock, Series B Senior Preferred Stock, Series C Senior Preferred Stock, Series D Senior Preferred Stock, Series E Senior Preferred Stock, and Series F Senior Preferred Stock.

"***Pro Rata Amount***" means, for each Major Investor, that portion of the New Securities identified in an Offer Notice which equals the proportion that the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities then held, by such Major Investor bears to

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the total Common Stock of the Company then outstanding (assuming full conversion and/or exercise, as applicable, of all Preferred Stock and other outstanding Derivative Securities).

"***Qualified Direct Listing***" shall have the meaning given to such term in the Restated Certificate. For the avoidance of doubt, a Qualified Direct Listing shall not be deemed to be an underwritten offering and shall not involve any underwriting services. Any and all mentions of an underwritten offering or underwriters contained herein shall not apply to a Qualified Direct Listing.

"***Qualified SPAC Transaction***" shall have the meaning given to such term in the Restated Certificate.

"***Registrable Securities***" means (a) the Common Stock issued and held, and issuable or issued upon conversion of shares of the Preferred Stock held by the Investors; (b) the Key Holder Registrable Securities, *<u>provided,</u> <u>however</u>*, that such Key Holder Registrable Securities shall not be deemed Registrable Securities and the Key Holders shall not be deemed Holders for the purposes of Sections 2.1, 2.2, 3.1, 3.10, 4 and 7.6; (c) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clauses (a) and (b) above; and (d) C.S. Registrable Securities; excluding in all cases, however, any Registrable Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Section 7.1, and excluding for purposes of Section 3 any shares for which registration rights have terminated pursuant to Section 6.2 of this Agreement. Notwithstanding the foregoing, the Company shall in no event be obligated to register any Preferred Stock of the Company, and Holders of Registrable Securities will not be required to convert their Preferred Stock into Common Stock in order to exercise the registration rights granted hereunder, until immediately before the closing of the offering to which the registration relates.

"***Registrable Securities then outstanding***" means the number of shares determined by adding the number of shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or convertible securities that are Registrable Securities.

"***Restated Certificate***" means the Company's Restated Certificate of Incorporation (as may be amended from time to time).

"***Restricted Securities***" means the securities of the Company required to bear the legend set forth in Section 3.12.2 hereof.

"***SEC***" means the Securities and Exchange Commission.

"***SEC Rule 144***" means Rule 144 promulgated by the SEC under the Securities Act.

"***SEC Rule 145***" means Rule 145 promulgated by the SEC under the Securities Act.

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"***SEC Rule 405***" means Rule 405 promulgated by the SEC under the Securities Act.

"***Securities Act***" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"***Selling Expenses***" means all underwriting discounts, selling commissions, and stock transfer taxes applicable to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and disbursements of the Selling Holder Counsel borne and paid by the Company as provided in Section 3.6.

"***Selling Holder Counsel***" means one counsel for the selling Holders.

"***Senior Preferred Stock***" means the Series A Senior Preferred Stock, Series B Senior Preferred Stock, Series C Senior Preferred Stock, Series D Senior Preferred Stock, Series E Senior Preferred Stock, and Series F Senior Preferred Stock.

"***Series B Director***" means any director of the Company that the holders of record of the Series B Preferred are entitled to elect pursuant to the Company's Certificate of Incorporation.

"***Series C Director***" means any director of the Company that the holders of record of the Series C Preferred are entitled to elect pursuant to the Company's Certificate of Incorporation.

"***Series F Director***" means any director of the Company that the holders of record of the Series F Preferred are entitled to elect pursuant to the Company's Certificate of Incorporation.

"***Standoff Period***" means (a) in the event of an IPO, the period commencing on the date of the final prospectus relating to the IPO and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days) and (b) in the event of a Qualified SPAC Transaction, the period commencing upon the consummation of a Qualified SPAC Transaction and ending on the date that is one hundred eighty (180) days after such consummation, subject to any earlier release provisions to be agreed to by the Company and the parent company acquiror in the Qualified SPAC Transaction.

"***Voting Agreement***" means that certain Amended and Restated Voting Agreement dated of even date hereof by and among the Company and the Investors and certain other stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;<u>INFORMATION RIGHTS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery of Financial Statements</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Information to be Delivered</u>. The Company shall deliver the following to each Major Investor, *<u>provided</u>* that the Board of Directors of the Company (the "***Board***") has not reasonably determined that such Major Investor is a Competitor of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;As soon as practicable, but in any event within one hundred twenty (120) days after the end of each fiscal year of the Company, (i) a balance sheet as of the

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end of such year, (ii) statements of income and of cash flows for such year, and (iii) a statement of stockholders' equity as of the end of such year, all of which shall be audited by an independent registered public accounting firm of nationally recognized standing approved by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;As soon as practicable, but in any event within forty-five (45) days after the end of each quarter of each fiscal year of the Company, the Company shall deliver unaudited statements of income and of cash flows for such fiscal quarter, and an unaudited balance sheet and a statement of stockholders' equity as of the end of such fiscal quarter, all prepared in accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments, (ii) not contain all notes thereto that may be required in accordance with GAAP, and (iii) be based on the principles set forth in ASU 2009-13, Revenue Recognition (Topic 605) until such time as the Company fully adopts ASU 2014-09, Revenue from Contracts with Customers (Topic 606)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Within thirty (30) days of the end of each calendar month the Company shall deliver (i) an unaudited balance sheet and (ii) an unaudited income statement for such month, either of which will be prepared in accordance with either the cash basis of accounting or GAAP (*provided*, that if such financial statements are prepared according to GAAP, they may (i) be subject to normal year-end audit adjustments and (ii) not contain all notes thereto that may be required in accordance with GAAP), and a comparison of such figures with the Company's financial plan for such month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;No more frequently than once per calendar quarter, as soon as practicable upon request by a Major Investor, but in any event within fifteen (15) days following such request, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the Common Stock issuable upon conversion or exercise of any outstanding securities convertible or exercisable for Common Stock and the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options and/or restricted stock units and stock options and/or restricted stock units not yet issued but reserved for issuance, if any, all in sufficient detail as to permit such Major Investor to calculate its respective percentage equity ownership in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;As soon as practicable, but in any event within thirty (30) days after the end of each fiscal year the Company shall deliver, a budget and business plan for the next fiscal year, approved by the Board of Directors and prepared on a monthly basis, including balance sheets, income statements, and statements of cash flow for such months (the "***Budget***") and, promptly after prepared, any other budgets or revised budgets prepared by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall promptly deliver such other information relating to the financial condition, business, prospects, or corporate affairs of the Company as any Major Investor may from time to time reasonably request.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Consolidation</u>. If, for any period, the Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of such period the financial statements delivered pursuant to Section 2.1.1 shall be the consolidated and consolidating financial statements of the Company and all such consolidated subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Suspension or Termination</u>. Notwithstanding anything else in this Section 2.1 to the contrary but subject to Section 6.1, the Company may cease providing the information set forth in this Section 2.1 during the period starting with the date sixty (60) days before the Company's good-faith estimate of the date of filing of a registration statement for an IPO or Qualified Direct Listing or the announcement of a Qualified SPAC Transaction, in each case, if it must do so to comply with the SEC rules applicable to such registration statement and related offering; *<u>provided</u>* that the Company's covenants under this Section 2.1 shall be reinstated at such time as the Company is no longer actively employing its reasonable efforts to cause such registration statement to become effective or to consummate such Qualified SPAC Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Inspection</u>**. The Company shall permit each Major Investor, at such Major Investor's expense, and on such Major Investor's written request, to visit and inspect the Company's properties; examine its books of account and records; and discuss the Company's affairs, finances, and accounts with its officers, during normal business hours of the Company as may be reasonably requested by the Major Investor; *<u>provided,</u> <u>however</u>*, that the Company shall not be obligated pursuant to this Section 2.2 or Section 2.1.1(f) to provide access to or deliver any information that it reasonably and in good faith considers to be confidential information (unless covered by an enforceable confidentiality agreement, in form reasonably acceptable to the Company, it being understood that Section 2.3 hereof shall be a form acceptable to the Company), constitutes a trade secret or the disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>**. Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or use for any purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Section 2 unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section 2.3 by such Investor), (b) is or has been independently developed or conceived by the Investor without use of the Company's confidential information, or (c) is or has been made known or disclosed to the Investor by a third party without a breach of any obligation of confidentiality such third party may have to the Company; *<u>provided,</u> <u>however</u>*, that an Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other professionals to the extent reasonably necessary to obtain their services in connection with monitoring its investment in the Company; (ii) to any existing Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course of business, any prospective partner, member or stockholder, or any former partners or members who retained an economic interest in such Investor, current partner or member of the partnership or limited liability company or any subsequent partnership or limited liability company under common investment management, limited partner, general partner or member of such Investor, or any prospective purchaser of such

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Investor's shares (or any employee or representative of any of the foregoing), but only if such Investor informs such Person that such information is confidential and directs such Person to maintain the confidentiality of such information in a manner no less protective than as set forth in this Section 2.3 (each of the foregoing persons, together with the persons described in clause (i) above, a "***Permitted Disclosee***"); or (iii) as may otherwise be required by law, rule, regulation or court or other governmental order, in each case if the Investor promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure. Notwithstanding the foregoing, any Investor that is an SEC-registered investment advisor or is managed by an SEC-registered investment advisor may disclose general information with respect to such Investor's interests or position in the Company, including without limitation (x) the percentage ownership of the Company represented by such interests or position, (y) the current and historical fair market value of such interests or position, and (z) any rights or obligations of the Investor solely as a result of holding such interests or position, in connection with routine regulatory examinations by the SEC without liability hereunder and shall not be required to provide notice to any party in the course of any such routine regulatory examination. Furthermore, nothing contained herein shall prevent any Investor or any Permitted Disclosee from entering into any business, entering into any agreement with a third party, or investing in or engaging in investment discussions with any other company (whether or not competitive with the Company), *provided* that such Investor or Permitted Disclosee does not, except as permitted in accordance with this Section 2.3, disclose or otherwise make use of any proprietary or confidential information of the Company in connection with such activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;REGISTRATION RIGHTS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Demand Registration</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Form S-1 Demand</u>. If at any time after the earlier of (a) five (5) years after the date of this Agreement or (b) one hundred eighty (180) days after the effective date of the registration statement for the IPO or a Qualified Direct Listing, the Company receives a request from Holders of a majority of the Registrable Securities then outstanding that the Company file a Form S-1 registration statement with respect to any Registrable Securities then outstanding (and the Registrable Securities subject to such request have an anticipated aggregate offering price, net of Selling Expenses, of at least $25,000,000), <u>then</u> the Company shall (i) within ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and (ii) use commercially reasonable efforts to as soon as practicable, and in any event within ninety (90) days after the date such request is given by the Initiating Holders, file a Form S-1 registration statement under the Securities Act covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days after the date the Demand Notice is given, and in each case, subject to the limitations of Section 3.1.3 and Section 3.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Form S-3 Demand</u>. If at any time when it is eligible to use a Form S-3 registration statement, the Company receives a request from any Holder of the Registrable

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Securities then outstanding that the Company file a Form S-3 registration statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses, of at least $5,000,000, then the Company shall (a) within ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and (b) use commercially reasonable efforts to as soon as practicable, and in any event within forty-five (45) days after the date such request is given by the Initiating Holders, file a Form S-3 registration statement under the Securities Act covering all Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Section 3.1.3 and Section 3.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Delay</u>. Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a registration pursuant to this Section 3.1 a certificate signed by the Company's chief executive officer stating that in the good faith judgment of the Board it would be materially detrimental to the Company and its stockholders for such registration statement to either become effective or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action would (a) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (b) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or (c) render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with respect to such filing, and any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly, for a period of not more than ninety (90) days after the request of the Initiating Holders is given; *<u>provided,</u> <u>however</u>*, that (i) the Company may not invoke this right more than once in any twelve (12) month period and (ii) the Company shall not register any securities for its own account or that of any other stockholder during such ninety (90) day period other than an Excluded Registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations</u>. The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Section 3.1.1: (a) during the period that is sixty (60) days before the Company's good faith estimate of the date of filing of, and ending on a date that is one hundred eighty (180) days after the effective date of, a Company-initiated registration, *provided*, that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; (b) after the Company has effected two (2) registrations pursuant to Section 3.1.1; or (c) if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Section 3.1.2. The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Section 3.1.2: (i) during the period that is thirty (30) days before the Company's good faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated registration, *provided*, that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or (ii) if the Company has effected two (2) registrations pursuant to Section 3.1.2 within the twelve (12) month period immediately preceding the date of such request. A registration shall not be counted

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as "effected" for purposes of this Section 3.1.4 until such time as the applicable registration statement has been declared effective by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefor, and, except as otherwise set forth in Section 3.6, forfeit their right to one registration on Form S-1 or S-3, as applicable, pursuant to Section 3.6, in which case such withdrawn registration statement shall be counted as "effected" for purposes of this Section 3.1.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Registration</u>**. If the Company proposes to register (including, for this purpose, a registration effected by the Company for stockholders other than the Holders, including in connection with a Qualified Direct Listing) any of its Common Stock under the Securities Act in connection with the public offering of such securities solely for cash (other than in an Excluded Registration), the Company shall, at such time, promptly give each Holder notice of such registration. Upon the request of each Holder given within twenty (20) days after such notice is given by the Company, the Company shall, subject to the provisions of Section 3.3, cause to be registered all of the Registrable Securities that each such Holder has requested to be included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 3.2 before the effective date of such registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance with Section 3.6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Underwriting Requirements</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Inclusion</u>. If, pursuant to Section 3.1, the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Section 3.1, and the Company shall include such information in the Demand Notice. The underwriter(s) will be selected by the Company, subject only to the reasonable approval of the holders of a majority of Registrable Securities held by the Initiating Holders. In such event, the right of any Holder to include such Holder's Registrable Securities in such registration shall be conditioned upon such Holder's participation in such underwriting. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in Section 3.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of this Section 3.3, if the managing underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned or held by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders; *<u>provided</u>, <u>however</u>*, that the number of Registrable Securities owned or held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above

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provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Underwriter Cutback</u>. In connection with any offering involving an underwriting of shares of the Company's capital stock pursuant to Section 3.2, the Company shall not be required to include any of the Holders' Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and its underwriters. If the total number of securities, including Registrable Securities, requested by stockholders to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. If the underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be allocated among the selling Holders in proportion (as nearly as practicable to) the number of Registrable Securities owned or held by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no event shall (a) the number of Registrable Securities included in the offering be reduced unless all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering, (b) the number of Registrable Securities included in the offering be reduced below 30% of the total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and no other stockholder's securities are included in such offering, or (c) notwithstanding (b) above, any Registrable Securities which are not Key Holder Registrable Securities be excluded from such underwriting unless all Key Holder Registrable Securities are first excluded from such offering. For purposes of the provision in this Section 3.3.2 concerning apportionment, for any selling Holder that is a partnership, limited liability company, or corporation, the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single "selling Holder," and any pro rata reduction with respect to such "selling Holder" shall be based upon the aggregate number of Registrable Securities owned or held by all Persons included in such "selling Holder," as defined in this sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Registration Not Effected</u>. For purposes of Section 3.1, a registration shall not be counted as "effected" if, as a result of an exercise of the underwriter's cutback provisions in Section 3.3.1, fewer than fifty percent (50%) of the total number of Registrable Securities that Holders have requested to be included in such registration statement are actually included.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Obligations of the Company</u>**. Whenever required under this Section 3 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such registration statement to become effective as promptly as practicable, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; *<u>provided,</u> <u>however</u>*, that (i) such 120-day period shall be extended for a period of time equal to the period the Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration, and (ii) in the case of any registration of Registrable Securities on Form S-3 that are intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such 120-day period shall be extended for up to sixty (60) days, if necessary, to keep the registration statement effective until all such Registrable Securities are sold;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;prepare and file with the SEC such amendments and supplements to such registration statement, the prospectus and, if required, any Free Writing Prospectus used in connection with such registration statement as may be necessary to comply with the Securities Act in order to enable the disposition of all securities covered by such registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus and any Free Writing Prospectus, as required by the Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; *<u>provided</u>* that the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the underwriter(s) of such offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;use its reasonable efforts to cause all such Registrable Securities covered by such registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then listed;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and provide a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;promptly make available for inspection by the selling Holders, any managing underwriter(s) participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all financial and other records, pertinent corporate documents, and properties of the Company, and cause the Company's officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective or a supplement to any prospectus or Free-Writing Prospectus forming a part of such registration statement has been filed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the Company amend or supplement such registration statement or prospectus or Free-Writing Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;use its commercially reasonable efforts to obtain for the underwriters one or more "cold comfort" letters, dated the effective date of the related registration statement (and, if such registration includes an underwritten public offering, dated the date of the closing under the underwriting agreement), signed by the Company's independent public accountants in customary form and covering such matters of the type customarily covered by "cold comfort" letters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;use its commercially reasonable efforts to obtain for the underwriters on the date such securities are delivered to the underwriters for sale pursuant to such registration a legal opinion of the Company's outside counsel with respect to the registration statement, each amendment and supplement thereto, the prospectus included therein (including the preliminary prospectus) and such other documents relating thereto in customary form and covering such matters of the type customarily covered by legal opinions of such nature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;to the extent the Company is a well-known seasoned issuer (as defined in SEC Rule 405) at the time any request for registration is submitted to the Company in accordance with Section 3.1, if so requested, file an Automatic Shelf Registration Statement to effect such registration; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;if at any time when the Company is required to re-evaluate its well-known seasoned issuer status for purposes of an outstanding Automatic Shelf Registration Statement used to effect a request for registration in accordance with Section 3.1.2 the Company determines that it is not a well-known seasoned issuer and (i) the registration

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statement is required to be kept effective in accordance with this Agreement and (ii) the registration rights of the applicable Holders have not terminated, use commercially reasonable efforts to promptly amend the registration statement on a form the Company is then eligible to use or file a new registration statement on such form, and keep such registration statement effective in accordance with the requirements otherwise applicable under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Furnish Information</u>**. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 3 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as is reasonably required to effect the registration of such Holder's Registrable Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Expenses of Registration</u>**. All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or qualifications pursuant to Section 3, including all registration, filing, and qualification fees; printers' and accounting fees; fees and disbursements of counsel for the Company; and the reasonable fees and disbursements of one Selling Holder Counsel, not to exceed $30,000, shall be borne and paid by the Company; *<u>provided,</u> <u>however</u>*, that

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Section 3.1 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to Section 3. 1.1 or Section 3.1.2, as the case may be, and (b) if, at the time of such withdrawal, the Holders shall have learned of a material adverse change in the condition, business, or prospects of the Company not known to the Holders at the time of their request and have withdrawn the request with reasonable promptness after learning of such information, then the Holders shall not be required to pay any of such expenses and shall not forfeit their right to one registration pursuant to Section 3.1.1 or Section 3.1.2. All Selling Expenses relating to Registrable Securities registered pursuant to this Section 3 shall be borne and paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their behalf.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Delay of Registration</u>**. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification</u>**. If any Registrable Securities are included in a registration statement under this Section 3:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Indemnification</u>. To the extent permitted by law, the Company will indemnify and hold harmless each selling Holder, and the partners, members, officers, directors, and stockholders of each such Holder; legal counsel and accountants for each

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such Holder; any underwriter (as defined in the Securities Act) for each such Holder; and each Person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling Person, or other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; *<u>provided,</u> <u>however</u>*, that the indemnity agreement contained in this Section 3.8.1 shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, conditioned, or delayed nor shall the Company be liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any such Holder, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with such registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Selling Holder Indemnification</u>. To the extent permitted by law, each selling Holder, severally and not jointly, will indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company within the meaning of the Securities Act, legal counsel and accountants for the Company, any underwriter (as defined in the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any such underwriter or other Holder, against any Damages, in each case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling Holder expressly for use in connection with such registration; and each such selling Holder will pay to the Company and each other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; *<u>provided,</u> <u>however</u>*, that (a) the indemnity agreement contained in this Section 3.8.2 shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld, conditioned or delayed, and (b) that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Sections 3.8.2 and 3.8.4 exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of fraud or willful misconduct by such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedures</u>. Promptly after receipt by an indemnified party under this Section 3.8 of notice of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 3.8, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; *<u>provided,</u> <u>however</u>*, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel,

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with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the indemnifying party within a reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Section 3.8, solely to the extent that such failure prejudices the indemnifying party's ability to defend such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Contribution</u>. To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either (a) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 3.8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Section 3.8 provides for indemnification in such case, or (b) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Section 3.8, then, and in each such case, such parties will contribute to the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the indemnifying party or by the indemnified party and the parties' relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; *<u>provided,</u> <u>however</u>*, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;in any such case, (A) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement (net of any Selling Expenses paid by such Holder), and (B) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;in no event shall a Holder's liability pursuant to this Section 3.8.4, when combined with the amounts paid or payable by such Holder pursuant to Section 3.8.2, exceed the proceeds from the offering received by such Holder (net of any Selling Expenses) paid by such Holder, except in the case of fraud or willful misconduct by such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Underwriting Agreement Controls</u>. Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering, the obligations of the Company and Holders under this Section 3.8 shall survive the completion of any offering of Registrable Securities in a registration under this Section 3, and otherwise shall survive the termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Reports under the Exchange Act</u>**. With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;use commercially reasonable efforts to make and keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the registration statement filed by the Company for the IPO or Qualified Direct Listing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;use commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to the extent accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the registration statement filed by the Company for the IPO or Qualified Direct Listing), the Securities Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies); and (ii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies to use such form).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations on Subsequent Registration Rights</u>**. From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would allow such holder or prospective holder to include such securities in any registration if such agreement (a) would allow such holder or prospective holder to include a portion of its securities in any "piggyback" registration if such inclusion could reduce the number of Registrable Securities that selling Holders could be entitled to include in such registration under Sections 3.2 and 3.3.2 hereof or (b) would allow such holder or prospective holder to initiate a demand for registration of any of its securities.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.11&nbsp;&nbsp;&nbsp;&nbsp;<u>"Market Stand-off" Agreement</u>**. Each Holder hereby agrees that, during the Standoff Period, such Holder will not, without the prior written consent of the managing underwriter or the Company in the event of an IPO, or the parent company acquiror in the event of a Qualified SPAC Transaction,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right, or warrant to purchase or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock, or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock, held immediately before the effective date of the registration statement for such offering or the closing date of such Qualified SPAC Transaction, as the case may be; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (a) above or this clause (b) is to be settled by delivery of Common Stock or other securities, in cash, or otherwise.

The foregoing provisions of this Section 3.11 shall apply only to the IPO or a Qualified SPAC Transaction and, in the case of the IPO shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, and shall be applicable to the Holders only if all officers, directors, and stockholders individually owning more than one percent (1%) of the Company's outstanding Common Stock (after giving effect to conversion into Common Stock of all outstanding Preferred Stock) are similarly bound. For purposes of this Section 3.11, the term "*Company*" shall include any wholly-owned subsidiary of the Company into which the Company merges or consolidates, or the parent company acquiror in a Qualified SPAC Transaction; *provided*, that in the case of a Qualified SPAC Transaction, references to "*Common Stock*" shall include the common stock of the parent company acquiror in the Qualified SPAC Transaction issued in respect of Common Stock outstanding as of immediately prior to the closing of such Qualified SPAC Transaction. In order to enforce the foregoing covenant, the Company shall have the right to place restrictive legends on the certificates representing the shares subject to this Section 3.11 and to impose stop transfer instructions with respect to such shares until the end of such period. The underwriters in connection with such registration (in the event of an IPO), and the parent company acquiror in the Qualified SPAC Transaction (in the event of a Qualified SPAC Transaction) are intended third-party beneficiaries of this Section 3.11 and shall have the right, power, and authority to enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration (in the event of an IPO), and the parent company acquiror in the Qualified SPAC Transaction (in the event of a Qualified SPAC Transaction) that are consistent with this Section 3.11 or that are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Company stockholders that are subject to such agreements, based on the number of shares subject to such agreement, except that, notwithstanding the foregoing, the Company and the underwriters may, in their sole discretion, waive or terminate these restrictions with respect to a de minimis number of shares of

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Common Stock, or if the Board determines that an individual is experiencing financial hardship and has no other reasonable available sources of liquidity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Transfer</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Agreement Binding</u>. The Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise transferred, and the Company shall not recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or transfer, except upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the provisions of the Securities Act. Prior to the termination of this Agreement, in order to assign any of the rights set forth herein, a transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock and the Registrable Securities held by such Holder to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Agreement. For the avoidance of doubt, the transfer restrictions set forth in this Section 3.12 are the only transfer restrictions that shall apply to shares of Preferred Stock, notwithstanding the Company's Bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>. Each certificate or instrument representing (a) the Preferred Stock, (b) the Registrable Securities, and (c) any other securities issued in respect of the securities referenced in clauses (a) and (b), upon any stock split, stock dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Section 3.12.3) be stamped or otherwise imprinted with a legend substantially in the following form:

*THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL OR OTHER EVIDENCE IN A FORM REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.*

*THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.*

The Holders consent to the Company making a notation in its records and giving instructions to any transfer agent of the Restricted Securities in order to implement the restrictions on transfer set forth in this Section 3.12.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedure</u>. The holder of each certificate representing Restricted Securities, by acceptance thereof, agrees to comply in all respects with the provisions of this Section 3. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there

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is in effect a registration statement under the Securities Act covering the proposed transaction, the Holder thereof shall give notice to the Company of such Holder's intention to effect such sale, pledge, or transfer. Each such notice shall describe the manner and circumstances of the proposed sale, pledge, or transfer in sufficient detail and, if reasonably requested by the Company, shall be accompanied at such Holder's expense by either (a) a written opinion of legal counsel who shall, and whose legal opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the effect that the proposed transaction may be effected without registration under the Securities Act; (b) a "no action" letter from the SEC to the effect that the proposed sale, pledge, or transfer of such Restricted Securities without registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (c) any other evidence reasonably satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or transfer of the Restricted Securities may be effected without registration under the Securities Act, whereupon the Holder of such Restricted Securities shall be entitled to sell, pledge, or transfer such Restricted Securities in accordance with the terms of the notice given by the Holder to the Company. The Company will not require such a legal opinion or "no action" letter (i) in any transaction in compliance with SEC Rule 144 or (ii) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; *provided* that, in the case of a transfer pursuant to this clause (ii), each transferee agrees in writing to be subject to the terms of this Section 3.12. Each certificate or instrument evidencing the Restricted Securities transferred as above provided shall bear, except if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in Section 3.12.2, except that such certificate shall not bear such restrictive legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish compliance with any provisions of the Securities Act. Until the IPO or Qualified Direct Listing or a Qualified SPAC Transaction, no Holder shall transfer any Restricted Securities to any person or entity that is determined to be a Competitor of the Company, in the good faith judgment of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;<u>RIGHTS TO FUTURE STOCK ISSUANCES</u>**. Subject to the terms and conditions of this Section 4 and applicable securities laws, if the Company proposes to sell any New Securities, the Company shall offer to sell a portion of New Securities to each Major Investor as described in this Section 4. A Major Investor shall be entitled to apportion the right of first refusal hereby granted to it among itself and its Affiliates in such proportions as it deems appropriate. The right of first refusal in this Section 4 shall not be applicable with respect to any Major Investor, if at the time of such subsequent securities issuance, the Major Investor is not an "accredited investor," as that term is then defined in Rule 501(a) under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Notice</u>**. The Company shall give notice (the "***Offer Notice***") to each Major Investor, stating (a) its bona fide intention to sell such New Securities, (b) the number of such New Securities to be sold and (c) the price and terms, if any, upon which it proposes to sell such New Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Investor Right</u>**. By written notice (the "***Investor Notice***") to the Company within twenty (20) days after the Offer Notice is given, each Major Investor may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to such Major Investor's Pro Rata Amount. In addition, each Major Investor that elects to purchase

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or acquire all of its Pro Rata Amount (each, a "***Fully Exercising Investor***") may, in the Investor Notice, elect to purchase or acquire, in addition to its Pro Rata Amount, a portion of the New Securities, if any, for which other Major Investors were entitled to subscribe but that are not subscribed for by such Major Investors. The amount of such overallotment that each Fully Exercising Investor shall be entitled to purchase is equal to the proportion that the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of Preferred Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed shares. A Major Investor's election may be conditioned on the consummation of the transaction described in the Offer Notice. The closing of any sale pursuant to this Section 4.2 shall occur on the earlier of (a) one hundred and twenty (120) days after the date that the Offer Notice is given and (b) the date of initial sale of New Securities pursuant to Section 4.3, *provided* that to the extent governmental approval is required by law to be obtained by a Major Investor prior to the consummation of such transaction (including, without limitation, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976), then such Major Investor's obligation to consummate the transaction shall be conditioned upon the receipt of such governmental approval and the time periods set forth in the foregoing clauses (a) and (b) shall be tolled for the duration of any period in which such governmental approval is pending, subject to a maximum of 90 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Sale of Securities</u>**. If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in Section 4.2, the Company may, during the ninety (90) day period following the expiration of the periods provided in Section 4.2, offer and sell the remaining unsubscribed portion of such New Securities to any Person or Persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Major Investors in accordance with this Section 4. Notwithstanding anything to the contrary contained in this Agreement, the provisions of this Section 4.3 shall apply *mutatis mutandis* to any equity securities (or any securities convertible into or exchangeable or exercisable for such equity securities) proposed to be issued by any subsidiary of the Company; provided, however, that such rights shall not be applicable to (a) de minimis amounts of equity securities issued by any subsidiary of the Company to third parties in order to satisfy an applicable resident stockholder, director stockholder or similar legal requirement, (b) issuances to the Company or another wholly-owned subsidiary of the Company or (c) equity securities issued pursuant to a joint venture or other bona fide strategic partnership entered into primarily for non-equity financing purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;<u>ADDITIONAL COVENANTS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Insurance</u>**. The Company shall use commercially reasonable efforts to maintain Directors and Officers liability insurance from a financially sound and reputable insurer

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for a minimum amount equal to $1,000,000 until such time as the Board determines that such insurance should be discontinued. In the event of a merger or sale of the Company in which the Company is not the survivor, the Company will use commercially reasonable efforts to ensure that proper provisions shall be made so that the successor assumes the Company's indemnification obligations to the members of the Board and/or that "***tail***" coverage for such obligations is put in place at the time of the sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Employee Agreements</u>**. The Company will cause each person now or hereafter employed by it or by any subsidiary (or engaged by the Company or any subsidiary as a consultant/independent contractor) with access to confidential information and/or trade secrets to enter into a nondisclosure and proprietary rights assignment agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Employee Vesting</u>**. Unless otherwise approved by the Board of Directors, including at least one Preferred Director, all employees and consultants of the Company or its subsidiaries who purchase, receive options to purchase, or receive awards of shares of the Company's capital stock after the date hereof shall be required to execute restricted stock, restricted stock unit or option agreements, as applicable, providing for (a) vesting of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service (or the date of grant in the case of a grant to an existing employee or consultant), and the remaining shares vesting in equal quarterly installments over the following twelve quarters, and (b) a customary market-standoff provision. In addition, unless otherwise approved by the Board of Directors, the Company shall retain a "right of first refusal" on employee transfers in favor or the Company, which shall be assigned to the Major Investors pro rata if the Company elects not to exercise such right, until the Company's IPO or Qualified Direct Listing or a Qualified SPAC Transaction and shall have the right to repurchase unvested shares at cost upon termination of employment or service of a holder of restricted stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Data Privacy</u>**. The Company shall use commercially reasonable efforts to implement and maintain physical, technical, organizational and administrative security measures and policies in place to protect all Personal Information collected by it or on its behalf from and against unauthorized access, use and/or disclosure. The Company shall also use its commercially reasonable efforts to comply in all material respects with all laws relating to data loss, theft and breach of security notification obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>FCPA</u>**. The Company represents that it shall not (and shall not permit any of its subsidiaries or affiliates or any of its or their respective directors, officers, managers, employees, independent contractors, representatives or agents to) promise, authorize or make any payment to, or otherwise contribute any item of value to, directly or indirectly, to any third party, including any Non-U.S. Official (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the "***FCPA***")), in each case, in violation of the FCPA or any other applicable anti-bribery or anti-corruption law. The Company further covenants that it shall (and shall cause each of its subsidiaries and affiliates to) cease all of its or their respective activities, as well as remediate any actions taken by the Company, its subsidiaries or affiliates, or any of their respective directors, officers, managers, employees, independent contractors,

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representatives or agents in violation of the FCPA or any other applicable anti-bribery or anti-corruption law. The Company further covenants that it shall (and shall cause each of its subsidiaries and affiliates to) maintain systems of internal controls (including, but not limited to, accounting systems, purchasing systems and billing systems) to ensure compliance with the FCPA or any other applicable anti-bribery or anti-corruption law. Upon request, the Company agrees to provide responsive information and/or certifications concerning its compliance with applicable anti-corruption laws. The Company shall promptly notify each Investor if the Company becomes aware of any Action (as defined in the Purchase Agreement). The Company shall, and shall cause any direct or indirect subsidiary or entity controlled by it, whether now in existence or formed in the future, to comply with the FCPA. The Company shall use its best efforts to cause any direct or indirect subsidiary, whether now in existence or formed in the future, to comply in all material respects with all applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6&nbsp;&nbsp;&nbsp;&nbsp;**The Company shall use commercially reasonable efforts to obtain physical counterpart signatures from all then-current employees of ABS-Labs (Pvt.) Limited, to all applicable agreements between the Company (or any subsidiary of the Company) and such service provider, within 30 days following the commencement of the Rights Offering (as defined in the Purchase Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;<u>TERMINATION</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Generally</u>**. The covenants set forth in Section 2.1, Section 2.2 and Section 4 shall terminate and be of no further force or effect upon the earliest to occur of: (a) immediately before the consummation of the IPO or a Qualified SPAC Transaction; (b) upon the effectiveness of a registration statement under the Securities Act in connection with a Qualified Direct Listing; (c) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act; or (d) upon the closing of a Deemed Liquidation Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Registration Rights</u>**. The right of any Holder to request registration or inclusion of Registrable Securities in any registration pursuant to Section 3.1 or Section 3.2 shall terminate upon the earliest to occur of: (a) after consummation of the IPO, when all of such Holder's Registrable Securities could be sold without any restriction on volume or manner of sale in any three-month period under SEC Rule 144 or any successor; (b) upon the closing of a Deemed Liquidation Event; (c) the fifth (5th) anniversary of the Qualified IPO (as defined in the Restated Certificate); (d) the fifth (5th) anniversary of the Qualified Direct Listing; and (e) the consummation of a Qualified SPAC Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;<u>GENERAL PROVISIONS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors and Assigns</u>**. The rights under this Agreement may be assigned (but only with all related obligations) by a Holder to a transferee of Registrable Securities that (a) is an Affiliate, partner, member, limited partner, retired or former partner, retired or former member, or stockholder of a Holder or such Holder's Affiliate; (b) is a Holder's Immediate Family Member or trust for the benefit of an individual Holder or one or more of such Holder's Immediate Family Members; (c) after such transfer, holds at least two percent (2%) of

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the shares of Registrable Securities (or if the transferring Holder owns less than two percent (2%) of the Registrable Securities, then all Registrable Securities held by the transferring Holder); (d) is a venture capital fund that is controlled by or under common control with one or more general partners or managing partners or managing members of, or shares the same management company with, the Holder; or (e) in the case of an assignment by a GO Convertible Securities Holder to a transferee of GO Convertible Securities*,* a transferee that is purchasing at least $20 million of the initial investment amount of such GO Convertible Securities Holder as set forth on Exhibit A to the GO Convertible Securities Purchase Agreement; *<u>provided,</u> <u>however</u>*, that (i) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee and the Registrable Securities with respect to which such rights are being transferred; and (ii) such transferee agrees in a written instrument delivered to the Company to be bound by and subject to the terms and conditions of this Agreement, including the provisions of Section 3.11. For the purposes of determining the number of shares of Registrable Securities held by a transferee, the holdings of a transferee (A) that is an Affiliate, limited partner, retired or former partner, member, retired or former member, or stockholder of a Holder or such Holder's Affiliate; (B) who is a Holder's Immediate Family Member; or (C) that is a trust for the benefit of an individual Holder or such Holder's Immediate Family Member shall be aggregated together and with those of the transferring Holder. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>**. This Agreement shall be governed by, and construed in accordance with, the laws of the State of California, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts; Facsimile</u>**. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may also be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Titles and Subtitles</u>**. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5.1&nbsp;&nbsp;&nbsp;&nbsp;All notices, requests, and other communications given, made or delivered pursuant to this Agreement shall be in writing and shall be deemed effectively given, made or delivered upon the earlier of actual receipt or: (a) personal delivery to the party to be notified; (b) when sent, if sent by facsimile or by electronic mail during the recipient's normal business hours, and if not sent during normal business hours, then on the recipient's next business day; (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (d) one (1) business day after the business day of deposit

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with a nationally recognized overnight courier, freight prepaid, specifying next-day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their addresses as set forth on Schedule A hereto, or to the principal office of the Company and to the attention of the Chief Executive Officer, in the case of the Company, or to such address or facsimile number as subsequently modified by written notice given in accordance with this Section 7.5. If notice is given to the Company, it shall be sent to 3500 South DuPont Hwy, Dover DE 19901, marked "Attention: General Counsel"; and a copy (which shall not constitute notice) shall also be sent to Cooley LLP, 3 Embarcadero Ctr 20th Floor, San Francisco, CA 94111, Attn: Rachel B. Proffitt. If no facsimile number is listed on <u>Schedule A</u> for a party (or above in the case of the Company), notices and communications given or made by facsimile shall not be deemed effectively given to such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5.2&nbsp;&nbsp;&nbsp;&nbsp;Each Investor and Key Holder consents to the delivery of any stockholder notice pursuant to the Delaware General Corporation Law (the "***DGCL***"), as amended or superseded from time to time, by electronic transmission pursuant to Section 232 of the DGCL (or any successor thereto) at the electronic mail address set forth below such Investor's or Key Holder's name on the Schedules hereto, as updated from time to time by notice to the Company, or as on the books of the Company. To the extent that any notice given by means of electronic transmission is returned or undeliverable for any reason, the foregoing consent shall be deemed to have been revoked until a new or corrected electronic mail address has been provided, and such attempted electronic notice shall be ineffective and deemed to not have been given. Each Investor and Key Holder agrees to promptly notify the Company of any change in such stockholder's electronic mail address, and that failure to do so shall not affect the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments and Waivers</u>**. This Agreement may only be amended or terminated and the observance of any term hereof may be waived (either generally or in a particular instance, and either retroactively or prospectively) only by a written instrument executed by the Company and (a) with respect to Sections 2 and 4 and any other provision of this Agreement to the extent such provision pertains to Section 2 or 4, the holders of a majority of the Registrable Securities then outstanding and held by the Major Investors or (b) with respect to any other provision of this Agreement, the holders of a majority of the Registrable Securities then outstanding; <u>provided</u>, that (i) the Company may in its sole discretion waive compliance with Section 3.12 (and the Company's failure to object promptly in writing after notification of a proposed assignment allegedly in violation of Section 3.12 shall be deemed to be a waiver); (ii) any provision hereof may be waived by any waiving party on such party's own behalf, without the consent of any other party; (iii) the definitions of "C.S. Registrable Securities", "GO Convertible Securities", "GO Convertible Securities Holder", "GO Convertible Securities Purchase Agreement", clause (b) of the definition of "Major Investor", clause (d) of the definition of "Registrable Securities," Section 2.1, Section 2.2, Section 7.1(e), in each case solely as applicable to the GO Convertible Securities or holders thereof, and this clause (iii) of Section 7.6 may not be amended or waived without the consent of the Majority Holders (as defined in the GO Convertible Securities). Further, notwithstanding the foregoing, (x) this Agreement may not be amended, terminated and no provision hereof may be waived, in each case, in any way which would adversely affect the rights of the Key Holders or any Investor hereunder in a manner

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disproportionate to any adverse effect such amendment or waiver would have on the rights of all Key Holders or Investors hereunder, as applicable, without also the written consent of the holders of a majority of the Registrable Securities held by the Key Holders, or such Investor, as applicable, and (y) consent of the Key Holders shall not be required for any amendment or waiver if such amendment or waiver either (i) is not directly applicable to the rights of the Key Holders hereunder; or (ii) does not adversely affect the rights of the Key Holders in a manner that is different than the effect on the rights of the other parties hereto; *<u>provided,</u> <u>however</u>*, that the grant to third parties of piggyback registration rights under Section 3.2 hereof shall not be deemed to be an adverse change to the piggyback registration rights of the Key Holders under this Agreement and shall not require the consent of the Key Holders. Notwithstanding anything to the contrary in this Agreement, if the rights of Insight and/or KP under <u>Section 4</u> of this Agreement are waived with respect to an offering of New Securities without the consent of such Major Investor, and any waiving Major Investor actually purchases any New Securities in such offering, then Insight and/or KP, as applicable, shall be permitted to purchase in such offering the same relative amount (based on the level of participation of the waiving Major Investor purchasing the largest portion of such waiving Major Investor's pro rata share) of New Securities on a pro rata basis, in accordance with the other provisions (including notice and election periods) set forth in <u>Section 4</u>. Any amendment, termination, or waiver effected in accordance with this Section 7.6 shall be binding on each party hereto and all of such party's successors and permitted assigns, regardless of whether or not any such party, successor or assignee entered into or approved such amendment, termination, or waiver. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>**. In case any one or more of the provisions contained in this Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Aggregation of Stock</u>**. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such affiliated persons may apportion such rights as among themselves in any manner they deem appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>**. This Agreement (including any Schedules and Exhibits hereto), together with the Restated Certificate, the Purchase Agreement and any transactions contemplated therein (including, without reservation, the Exchange), constitute the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and (as and if applicable) any management rights letter or similar agreement between the Company and any Investor holding Preferred Stock, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled and replaced with this Agreement. Upon the effectiveness of this Agreement, the Prior Agreement shall be superseded and replaced in its entirety by this Agreement and shall be of no further force or effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Third Parties</u>**. Nothing in this Agreement, express or implied, is intended to confer upon any person, other than the parties hereto and their successors and assigns, any rights or remedies under or by reason of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Delays or Omissions</u>**. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Dispute Resolution</u>**. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the federal or state courts located in the Northern District of California for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the federal or state courts located in the Northern District of California, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that a party is not subject to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution based upon judgment or order of such court(s), that any suit, action or proceeding arising out of or based upon this Agreement commenced in the federal or state courts located in the Northern District of California is brought in an inconvenient forum, that the venue of such suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court. Should any party commence a suit, action or other proceeding arising out of or based upon this Agreement in a forum other than the federal or state courts located in the Northern District of California, or should any party otherwise seek to transfer or dismiss such suit, action or proceeding from such court(s), that party shall indemnify and reimburse the other party for all legal costs and expenses incurred in enforcing this provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Attorneys' Fees</u>**. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the non-prevailing party shall pay all costs and expenses incurred by the prevailing party, including, without limitation, all reasonable attorneys' fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Investors</u>**. Notwithstanding anything to the contrary contained herein, if the Company issues Convertible Securities, after the date hereof pursuant to the Purchase Agreement, upon and in connection with the conversion of such Convertible Securities into Conversion Shares (as defined in the Convertible Securities) ("***Additional Investors***"), Additional Investors may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement, and thereafter shall be deemed an "Investor" for all purposes hereunder. No action or consent by the Investors shall be required for such joinder to this Agreement by such additional Investor, so long as such additional Investor

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has agreed in writing to be bound by all of the obligations as an "Investor" hereunder, as applicable.

**[SIGNATURE PAGES FOLLOW]**

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| |
|:---|
| **COMPANY:** |
| **MOTIVE TECHNOLOGIES, INC.** |
| By: <u>/s/ Shoaib Makani&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Shoaib Makani |
| Title: Chief Executive Officer |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| |
|:---|
| KEYHOLDER: |
| <u>/s/ Shoaib Makani&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Shoaib Makani |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **GREENOAKS CAPITAL MS LP – DIXON DOCKS SERIES** | **GREENOAKS CAPITAL MS LP – DIXON DOCKS SERIES** |
| By: | Greenoaks Capital MS Management LLC - Dixon Dock Series, its General Partner |
| By: <u>/s/ Benjamin Woodside Schrier&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Benjamin Woodside Schrier&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Benjamin Woodside Schrier | Benjamin Woodside Schrier |
| Title: Authorized Signatory | Title: Authorized Signatory |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **GREENOAKS CAPITAL OPPORTUNITIES FUND II LP** | **GREENOAKS CAPITAL OPPORTUNITIES FUND II LP** |
| By: | Greenoaks Capital (MTGP) II LP, its General Partner  |
| By: | Greenoaks Capital (TTGP) II Ltd., its General Partner |
| By: <u>/s/ Benjamin Woodside Schrier&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Benjamin Woodside Schrier&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Benjamin Woodside Schrier | Benjamin Woodside Schrier |
| Title: Authorized Signatory | Title: Authorized Signatory |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| |
|:---|
| **INVESTORS:** |
| **ACORN HEAVY INDUSTRIES CONDOR LLC** |
| By: <u>/s/ Benjamin Woodside Schrier&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Benjamin Woodside Schrier |
| Title: Authorized Signatory |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **KLEINER PERKINS SELECT FUND II, LLC FOR ITSELF AND AS NOMINEE FOR KLEINER PERKINS SELECT FOUNDERS FUND II, LLC KLEINER PERKINS SELECT FRIENDS FUND II, LLC** | **KLEINER PERKINS SELECT FUND II, LLC FOR ITSELF AND AS NOMINEE FOR KLEINER PERKINS SELECT FOUNDERS FUND II, LLC KLEINER PERKINS SELECT FRIENDS FUND II, LLC** |
| By: | Kleiner Perkins Select II Associates, LLC, its Managing Director |
| By: <u>/s/ Susan Biglieri&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Susan Biglieri&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Susan Biglieri | Susan Biglieri |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INSIGHT PARTNERS (CAYMAN) XII, L.P.** | **INSIGHT PARTNERS (CAYMAN) XII, L.P.** |
| By: | Insight Associates XII, L.P., its general partner  |
| By: | Insight Associates XII, Ltd., its general partner |
| By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Andrew Prodromos | Andrew Prodromos |
| Title: Authorized Officer | Title: Authorized Officer |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INSIGHT PARTNERS XII, L.P.** | **INSIGHT PARTNERS XII, L.P.** |
| By: | Insight Associates XII, L.P., its general partner |
| By: | Insight Associates XII, Ltd., its general partner |
| By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Andrew Prodromos | Andrew Prodromos |
| Title: Authorized Officer | Title: Authorized Officer |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INSIGHT PART NERS XII (CO-INVESTORS), L.P.** | **INSIGHT PART NERS XII (CO-INVESTORS), L.P.** |
| By: | Insight Associates XII, L.P., its general partner  |
| By: | Insight Associates XII, Ltd., its general partner |
| By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Andrew Prodromos | Andrew Prodromos |
| Title: Authorized Officer | Title: Authorized Officer |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INSIGHT PART NERS XII (CO-INVESTORS) (B), L.P.** | **INSIGHT PART NERS XII (CO-INVESTORS) (B), L.P.** |
| By: | Insight Associates XII, L.P., its general partner  |
| By: | Insight Associates XII, Ltd., its general partner |
| By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Andrew Prodromos | Andrew Prodromos |
| Title: Authorized Officer | Title: Authorized Officer |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INSIGHT PARTNERS (DELAWARE) XII, L.P.** | **INSIGHT PARTNERS (DELAWARE) XII, L.P.** |
| By: | Insight Associates XII, L.P., its general partner  |
| By: | Insight Associates XII, Ltd., its general partner |
| By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Andrew Prodromos | Andrew Prodromos |
| Title: Authorized Officer | Title: Authorized Officer |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INSIGHT PARTNERS (EU) XII, S.C.Sp.** | **INSIGHT PARTNERS (EU) XII, S.C.Sp.** |
| By: | Insight Associates (EU) XII, S.a.r.l., its general partner |
| By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | By: <u>/s/ Andrew Prodromos&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Andrew Prodromos | Andrew Prodromos |
| Title: Authorized Officer | Title: Authorized Officer |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| |
|:---|
| **INVESTORS:** |
| **SCALE VENTURE PARTNERS V, L.P.** |
| By: Scale Venture Management V, L.P., its general partner |
| By: Scale Venture Management V, LLC, its general partner |
| By: <u>/s/ Alexander Niehenke&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Alexander Niehenke |
| Title: Authorized Person |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **WiL FUND II, L.P., a Cayman Islands exempted limited partnership** | **WiL FUND II, L.P., a Cayman Islands exempted limited partnership** |
| By: | WiL GP II, L.P., a Cayman Islands exempted limited partnership, its General Partner |
| By: | WiL Management II Ltd., a Cayman Islands exempted company, its General Partner |
| By: <u>/s/ Gen Isayama&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Gen Isayama&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Gen Isayama | Gen Isayama |
| Title: Director | Title: Director |

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IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

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| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **G2VP I, LLC for itself and as nominee for G2VP Founders Fund I, LLC** | **G2VP I, LLC for itself and as nominee for G2VP Founders Fund I, LLC** |
| By: | G2VP I Associates, LLC, its Managing Member |
| By: <u>/s/ Ben Kortlang&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Ben Kortlang&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Ben Kortlang | Ben Kortlang |
| Title: Managing Member | Title: Managing Member |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INSTITUTIONAL VENTURE PARTNERS XV, L.P.** | **INSTITUTIONAL VENTURE PARTNERS XV, L.P.** |
| By: | Institutional Venture Management XV, LLC, its General Partner |
| By: <u>/s/ Somesh Dash&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Somesh Dash&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Somesh Dash | Somesh Dash |
| Title: Managing Director | Title: Managing Director |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INSTITUTIONAL VENTURE PARTNERS XV EXECUTIVE FUND, L.P.** | **INSTITUTIONAL VENTURE PARTNERS XV EXECUTIVE FUND, L.P.** |
| By: | Institutional Venture Management XV, LLC, its General Partner |
| By: <u>/s/ Somesh Dash&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Somesh Dash&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Somesh Dash | Somesh Dash |
| Title: Managing Director | Title: Managing Director |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INSTITUTIONAL VENTURE PARTNERS XVI, L.P.** | **INSTITUTIONAL VENTURE PARTNERS XVI, L.P.** |
| By: | Institutional Venture Management Holdings XVI, LLC, its General Partner |
| By: | Institutional Venture Management XVI, LLC, its Manager |
| By: <u>/s/ Somesh Dash&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Somesh Dash&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Somesh Dash | Somesh Dash |
| Title: Managing Director | Title: Managing Director |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INDEX VENTURES VII (JERSEY), L.P.** | **INDEX VENTURES VII (JERSEY), L.P.** |
| By: | Index Venture Associates VII Limited, its Managing General Partner |
| By: <u>/s/ Nigel Greenwood&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Nigel Greenwood&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Nigel Greenwood | Nigel Greenwood |
| Title: Director | Title: Director |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **INDEX VENTURES VII PARALLEL ENTREPRENEUR FUND (JERSEY), L.P.** | **INDEX VENTURES VII PARALLEL ENTREPRENEUR FUND (JERSEY), L.P.** |
| By: | Index Venture Associates VII Limited, its Managing General Partner |
| By: <u>/s/ Nigel Greenwood&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Nigel Greenwood&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Nigel Greenwood | Nigel Greenwood |
| Title: Director | Title: Director |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of the date first written above.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **YUCCA (JERSEY) SLP** | **YUCCA (JERSEY) SLP** |
| By: | Intertrust Employee Benefit Services Limited as Authorized Signatory of Yucca (Jersey) SLP in its capacity as administrator of the Index Co Investment Scheme, its |
| By: <u>/s/ Chris Gottard&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Chris Gottard&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Printed Name: <u>Chris Gottard&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | Printed Name: <u>Chris Gottard&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Title: | Authorized Signatory – Intertrust <br>Employee Benefit Services Limited |

---

---

| | |
|:---|:---|
| By: <u>/s/ Carolyn Gates&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | By: <u>/s/ Carolyn Gates&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Printed Name: <u>Carolyn Gates&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | Printed Name: <u>Carolyn Gates&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Title: | Authorized Signatory – Intertrust <br>Employee Benefit Services Limited |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **ALARIC CAPITAL, L.P.** |
| By: <u>/s/ Anand Kishore&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Anand Kishore |
| Title: Managing Member |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **SUZANNE BARAKAT** |
| <u>/s/ Suzanne Barakat&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **THE CHARLES YIM FAMILY TRUST** |
| By: <u>/s/ Charles Yim&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Charles Yim |
| Title: Trustee |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **GEMINO CAPITAL LLC** |
| By: <u>/s/ Vivek Patel&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Vivek Patel |
| Title: Managing Partner |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **GAM LSA PRIVATE SHARES (CAYMAN) MASTER FUND** |
| By: <u>/s/ Jonas Grankvist&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Jonas Grankvist |
| Title: Managing Director, Liberty Street Advisors, Inc., its Delegate Manager |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **GOANNA CAPITAL STRUCTURED OPPORTUNITIES FUND LP** |
| By: <u>/s/ Robert Hilmer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Robert Hilmer |
| Title: Manager |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **COMMONFUND CAPITAL ENVIRONMENTAL SUSTAINABILITY PARTNERS 2020, L.P.** | **COMMONFUND CAPITAL ENVIRONMENTAL SUSTAINABILITY PARTNERS 2020, L.P.** |
| By: | Fairfield Partners XIII L.P., its general partner  |
| By: | Fairfield Partners XIII GP LLC, its general partner |
| By: | Fairfield Partners Holdings II L.P., its sole member |
| By: | CF Private Equity, Inc., its general partner |
| By: <u>/s/ Ethan Levine&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Ethan Levine&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Ethan Levine | Ethan Levine |
| Title: Managing Director | Title: Managing Director |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **COMMONFUND CAPITAL CO-INVESTMENT OPPORTUNITIES IV, L.P.** | **COMMONFUND CAPITAL CO-INVESTMENT OPPORTUNITIES IV, L.P.** |
| By: | Fairfield Partners XIV L.P., its general partner  |
| By: | Fairfield Partners XIV GP LLC, its general partner |
| By: | Fairfield Partners Holdings II L.P., its sole member |
| By: | CF Private Equity, Inc., its general partner |
| By: <u>/s/ Ethan Levine&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Ethan Levine&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Ethan Levine | Ethan Levine |
| Title: Managing Director | Title: Managing Director |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (DAPER I)** |
| By: <u>/s/ Brian Favat&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Brian Favat |
| Title: Authorized Signatory |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (LSVF)** |
| By: <u>/s/ Frank Brucato&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Frank Brucato |
| Title: Authorized Signatory |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **THE PRIVATE SHARES FUND** |
| By: <u>/s/ Jonas Grankvist&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Jonas Grankvist |
| Title: Managing Director |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **NEXT PLAY CAPITAL II, L.P.** |
| By: <u>/s/ John Ailanjian&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| John Ailanjian |
| Title: General Partner |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **ROBERT BOSCH VENTURE CAPITAL GMBH** |
| By: <u>/s/ Philipp Rose&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Philipp Rose |
| Title: Managing Director |
| By: <u>/s/ Ingo Ramesohl&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Ingo Ramesohl |
| Title: Managing Director |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **SUSTAINABLE CAPITAL LLC** |
| By: <u>/s/ Stuart Bernstein&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Stuart Bernstein |
| Title: Managing Member |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 11, 2025.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **FORMATION8 PARTNERS FUND I, L.P.** | **FORMATION8 PARTNERS FUND I, L.P.** |
| By: | Formation8 GP, LLC |
| Its General Partner | Its General Partner |
| By: <u>/s/ Ian M. Shannon&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Ian M. Shannon&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Ian M. Shannon | Ian M. Shannon |
| Title: Authorized Signatory | Title: Authorized Signatory |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 15, 2025.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **AB EQUITY INVESTORS L.P.** | **AB EQUITY INVESTORS L.P.** |
| By: | AB Equity Investors GP LLC, its general partner |
| By: <u>/s/ Shishir Agrawal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Shishir Agrawal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Name: Shishir Agrawal | Name: Shishir Agrawal |
| Title: Authorized Person | Title: Authorized Person |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 21, 2025.

---

| |
|:---|
| **INVESTORS:** |
| **FUND 1 S2023SM, LP** |
| By: Fund GP, LLC its General Partner |
| **By: Belltower Fund Group, Ltd., Agent** |
| By: <u>/s/ Joshua Cowdin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Joshua Cowdin |
| Title: Authorized Person |

---

------

IN WITNESS WHEREOF, the parties hereto have executed this **Amended and Restated Investors' Rights Agreement** as of July 21, 2025.

---

| | |
|:---|:---|
| **INVESTORS:** | **INVESTORS:** |
| **CEP XIII HOLDINGS, L.P.** | **CEP XIII HOLDINGS, L.P.** |
| By: | CEP XIII Holdings GP, LLC, its general partner |
| By: | CFPE U.S. Private Equity Partners XIII, L.P., its sole member |
| By: | Fairfield Partners XV L.P., its general partner |
| By: | Fairfield Partners XV GP LLC, its general partner |
| By: | Fairfield Partners Holdings II L.P., its sole member |
| By: | CF Private Equity, Inc., its general partner |
| By: <u>/s/ Ethan Levine&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | By: <u>/s/ Ethan Levine&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Ethan Levine | Ethan Levine |
| Title: Managing Director | Title: Managing Director |

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**<u>SCHEDULE A</u>**

**List of Investors**

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**<u>SCHEDULE B</u>**

**List of Key Holders**

## Exhibit 4.3

**Exhibit 4.3**

*THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "****ACT****"), OR UNDER THE SECURITIES LAWS OF APPLICABLE STATES. THEY MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION UNDER SUCH LAWS OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENT. ANY PROPOSED TRANSFER OR RESALE OF SUCH SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER TO THE EFFECT THAT SUCH TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS.*

**MOTIVE TECHNOLOGIES, INC.**

**AMENDED AND RESTATED CONVERTIBLE SECURITY**

Convertible Security No.: __&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Made as of April 5, 2019 (the "***Issue Date***")

$__________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated as of May 20, 2025 (the "***Restatement Date***")

This Amended and Restated Convertible Security (this "***Convertible Security***") amends, restates and supersedes that certain Convertible Security, with an original issuance date of April 5, 2019, issued by Motive Technologies, Inc. (f/k/a Keep Truckin, Inc.), a Delaware corporation (the "***Company***"), to _______________ or registered assigns expressly permitted thereunder ("***Holder***") in the original Initial Investment Amount set forth below (as amended from time to time prior to the date hereof, the "***Original Convertible Security***"), but shall not constitute a release, satisfaction or novation of any of the obligations under the Original Convertible Security, the Purchase Agreement (as defined below) or any instrument, agreement or document relating to any of the foregoing.

On and subject to the terms and conditions of this Convertible Security, for value received, the Company hereby promises to pay to the order of Holder, on the date determined in accordance with Section 2 hereof, if not earlier converted in accordance with this Convertible Security, the sum of _______________ (**$__________**) (the "***Initial Investment Amount***"), together with the unpaid yield then accrued on the Initial Investment Amount at 5.5% per annum, which yield shall be compounded semi-annually from the Issue Date. Such yield shall begin to accrue on the Issue Date and shall continue to accrue on the Initial Investment Amount that remains outstanding until the entire Investment Balance (as defined below), plus all accrued and unpaid expenses, are paid or converted in accordance herewith, shall be computed based on the actual number of days elapsed and on a year of 360 days comprised of twelve 30-day months (which shall deemed to be "per annum" for purposes of this Convertible Security).

This Convertible Security shall be deemed to have been issued pursuant to that certain Convertible Securities Purchase Agreement, dated as of April 5, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "***Purchase Agreement***"; capitalized terms used but not defined herein shall have the meanings set forth in the Purchase Agreement), by and among the Company, the original holder of this Convertible Security and certain other investors and is subject to the provisions of the Purchase Agreement.

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The following is a statement of the rights of Holder and the terms and conditions to which this Convertible Security is subject, and to which Holder hereof, by the acceptance of this Convertible Security, agrees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;<u>DEFINITIONS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. The following definitions shall apply for purposes of this Convertible Security.

"***2025 Convertible Securities***" means the convertible securities issued pursuant to the 2025 Purchase Agreement, as such securities may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"***2025 CS End Date***" has the meaning ascribed to the term "End Date" in the 2025 Convertible Securities.

"***2025 Event of Default***" has the meaning ascribed to the term "Event of Default" in the 2025 Convertible Securities, unless waived in accordance with the 2025 Convertible Securities (provided that, for the avoidance of doubt, the failure to deliver a "Default Notice" under the 2025 Convertible Securities shall not be deemed a constructive waiver of the Event of Default under such 2025 Convertible Securities).

"***2025 Investment Balance***" means, as of any applicable time, the then outstanding portion of the Initial Return Amount (as defined under the 2025 Convertible Securities as of the Restatement Date) of each 2025 Convertible Security that has not then been repaid, and all then accrued but unpaid yield under each such 2025 Convertible Security.

"***2025 Preferred Stock***" means the series of the Company's preferred stock into which the 2025 Convertible Securities convert pursuant to any End Date Conversion or Deemed Liquidation Event Conversion (each as defined in the 2025 Convertible Securities).

"***2025 Purchase Agreement***" means that certain Convertible Securities Purchase Agreement, dated as of May 20, 2025, by and among the Company and the other parties thereto, as it may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"***Affiliate***" means, with respect to any specified Person (as defined below), any other Person who, directly or indirectly, controls, is controlled by, or is under common control with such specified Person, including without limitation any general partner, managing member, officer or director of such specified Person or any venture capital fund now or hereafter existing that is controlled by one or more general partners or managing members of, or shares the same management company with, such specified Person.

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"***Applicable Preferred Stock***" means, as of the date of a given conversion of this Convertible Security, a new series of the Company's preferred stock, reflecting the terms of either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the preferred stock of the Company issued in the Company's then most recently consummated *bona fide* equity financing of at least $50,000,000 (other than the 2025 Convertible Securities and the 2025 Preferred Stock), <u>provided</u>, that such preferred stock is not junior (with respect to dividends, liquidation, conversion, voting, protective provisions or otherwise) to any other equity securities of the Company (excluding the 2025 Convertible Securities and the 2025 Preferred Stock) other than with respect to the voting rights of the Company's Class B Common Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the then-most senior preferred stock of the Company (other than the 2025 Convertible Securities and the 2025 Preferred Stock), as determined by the Majority Holders in their discretion, if the preferred stock described in clause (i) is junior in any respect (with respect to dividends, liquidation, conversion, protective provisions or otherwise) to any other equity securities of the Company; <u>provided</u>, <u>however</u>, such equity securities may not be shares of Class B Common Stock, nor convertible into shares of Class B Common Stock,

in each case, identical to the series of the Company's preferred stock specified in clause (i) or (ii) of this definition, but for (A) the liquidation preference of the new series of preferred stock, which will be (1) senior in right of payment to any and all other equity securities of the Company (including any 2025 Convertible Securities or 2025 Preferred Stock) and (2) in the aggregate at least the Investment Balance of this Convertible Security as of such date, (B) the conversion ratio of such new series of preferred stock to shares of Class A Common Stock, which shall be one-to-one, and (C) series-specific protective provisions preventing the Company from (1) waiving, amending, removing or otherwise modifying the liquidation preference or anti-dilution protection of such new series of preferred stock, (2) issuing any stock that has, or reclassifying any then-existing stock to have, any preferences or rights with respect to liquidation, redemption or dividends, that are senior to or pari passu with the preferences and rights of such new series of preferred stock, or (3) redeeming any equity securities (such protective provision to be substantially identical to the covenant set forth in Section 6.1.2 hereof).

Notwithstanding the foregoing, if the foregoing series of preferred stock issued as the "***Applicable Preferred Stock***" would not have (a) a liquidation preference of at least one times the face amount and accrued yield of the Convertible Securities calculated as of the date of conversion of this Convertible Security, (b) anti-dilution protection with respect to any issuances of equity securities on or following the Restatement Date at any price below the Conversion Price that is at least as favorable to the preferred stockholder as that enjoyed by the Series F Senior Preferred Stock as of the Restatement Date pursuant to the Restated Certificate, (c) rights with respect to dividends that are at least as favorable to the preferred stockholder as those enjoyed by the Series F Senior Preferred Stock as of the Restatement Date pursuant to the Restated Certificate, including at least an 8% non-cumulative dividend preference in the form currently enjoyed by holders of the Series F Senior Preferred Stock, (d) the inability to redeem or

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demand redemption of such shares of preferred stock at the option of the holder, or (e) protective provisions and other approval rights against conversion and regarding liquidation, anti-dilution protection and dividends that are substantially identical to, or more favorable to the preferred stockholder than, those enjoyed by the Series F Senior Preferred Stock (not including any such protective provisions or other approval rights that are enjoyed by holders of the Company's preferred stock as a single class), then the "***Applicable Preferred Stock***" shall consist of a new series of the Company's preferred stock that has the minimum rights, preferences and privileges set forth in clauses (a) through (e), inclusive, of this paragraph, to the extent that the preferred stock that would otherwise be issuable pursuant to clauses (i) or (ii), inclusive, of this definition would not have such minimum rights, preferences and privileges, but which otherwise have the rights, preferences and privileges of the preferred stock otherwise issuable pursuant to clauses (i) or (ii), inclusive, of this definition.

Notwithstanding anything herein to the contrary, the Applicable Preferred Stock may not be Class B Common Stock or convertible into Class B Common Stock.

"***Board***" means the Company's board of directors.

"***Business Day***" means a weekday on which banks are open for general banking business in San Francisco, California.

"***Capital Lease***" means, as to any Person, any lease (or other arrangement conveying the right to use) of Property (whether real, personal or mixed) by such Person as lessee that, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of such Person.

"***Capital Lease Obligations***" of any Person means, on any date of determination, in respect of any Capital Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP.

"***Cash Management Agreement***" means any agreement to provide cash management services, including treasury, depository, overdraft, credit or debit card (including non-card electronic payables), electronic funds transfer (including automated clearing house funds transfers), and other cash management arrangements.

"***Class A Common Stock***" shall mean the Class A Common Stock, par value $0.0001 per share, of the Company.

"***Class B Common Stock***" shall mean the Class B Common Stock, par value $0.0001 per share, of the Company.

"***Common Stock***" shall mean the common stock, par value $0.0001 per share, of the Company, including the Class A Common Stock, Class B Common Stock and any other class or series of common stock authorized following the date hereof.

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"***Company***" has the meaning set forth in the preamble of this Convertible Security. "***Conversion Price***" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;with respect to an End Date Conversion (as defined below), the lowest of (i) the product obtained by multiplying (x) the lowest price per share at which the Company issued preferred stock of the Company upon which the Applicable Preferred Stock is based, by (y) the Discount Factor in effect as of the date of such conversion, and (ii) a price per share equal to (x) $1.75 billion, divided by (y) the number of shares of Common Stock outstanding as of the End Date Conversion on a fully-diluted, as-converted, as-exercised basis, including specifically in such denominator (A) the number of shares of Common Stock issuable to the Holders upon the conversion of the Convertible Securities in the End Date Conversion, assuming the further conversion of the Conversion Shares issued upon such conversion of the Convertible Securities into shares of Common Stock, (B) all other shares of Common Stock issuable upon the assumed conversion and/or exercise as of the End Date (and immediately following the conversion of the Convertible Securities) of all other securities that are outstanding or that have been Promised to any Person, which are convertible into and/or exercisable for Common Stock or preferred stock of the Company, whether or not then subject to vesting or other conditions upon such conversion or exercise, including specifically the 2025 Convertible Securities or, if such 2025 Convertible Securities have already converted or as if converted concurrently with such End Date Conversion, the 2025 Preferred Stock (or any shares of Common Stock issued or issuable upon conversion of such 2025 Preferred Stock) issued upon such conversion, and (C) all securities then reserved for issuance under the Company's equity incentive or similar plans as of the End Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;with respect to a Deemed Liquidation Event Conversion (as defined below), the lesser of (i) the price per share to be received with respect to the preferred stock of the Company upon which the Applicable Preferred Stock is based at the applicable Deemed Liquidation Event, multiplied by the Discount Factor in effect as of the date of such conversion, and (ii) a price per share equal to (x) $1.75 billion, divided by (y) the number of shares of Common Stock outstanding as of the applicable Deemed Liquidation Event on an as-converted, as-exercised basis, including specifically in such denominator (A) the number of the Company's shares of Common Stock issuable to the Holders upon the conversion of the Convertible Securities in such Deemed Liquidation Event Conversion, assuming the further conversion of the Conversion Shares issued upon such conversion of the Convertible Securities into shares of Common Stock, and (B) all other shares of Common Stock issuable upon the assumed conversion and/or exercise as of the closing of such Deemed Liquidation Event (and immediately following the conversion of the Convertible Securities) of all other securities that are outstanding or that have been Promised to any Person, in either case which are convertible into and/or exercisable for Common Stock or preferred stock of the Company, whether or not then subject to vesting or other conditions upon such conversion or exercise, including specifically the 2025 Convertible Securities or, if such 2025 Convertible Securities have already converted or will be converted concurrently with such Deemed Liquidation Event Conversion, the 2025 Preferred Stock (or any shares of Common Stock issued or issuable upon conversion of such 2025 Preferred Stock) issued upon such conversion, but specifically excluding from this clause (y) any securities that are reserved for issuance under the Company's equity incentive or similar plans but which are

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not then underlying any Promised or outstanding equity grants or underlying shares issued upon exercise of any equity grants; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;with respect to a Mandatory Conversion (as defined below), the lesser of (i) the price per share at which the Company's equity securities are issued to the public in a Qualified Public Offering multiplied by the Discount Factor in effect as of the date of such conversion, and (ii) a price per share equal to (x) $1.75 billion, divided by (y) the number of shares of Common Stock outstanding as of immediately prior to the closing of such Qualified Public Offering on a fully-diluted, as-converted, as-exercised basis, including specifically in such denominator (A) the shares of Common Stock issuable to the holders upon the conversion of the Convertible Securities in such Mandatory Conversion, (B) all other shares of Common Stock issuable upon the assumed conversion and/or exercise as of the closing of the Qualified Public Offering (and immediately following the conversion of the Convertible Securities) of all other securities that are outstanding or that have been Promised to any Person, in either case which are convertible into and/or exercisable for Common Stock or preferred stock of the Company, whether or not then subject to vesting or other conditions upon such conversion or exercise, including specifically the 2025 Convertible Securities or, if such 2025 Convertible Securities have already converted or will be converted concurrently with such Mandatory Conversion, the 2025 Preferred Stock (or any shares of Common Stock issued or issuable upon conversion of such 2025 Preferred Stock) issued upon such conversion, and (C) all securities then reserved for issuance under the Company's equity incentive or similar plans, but specifically excluding from this clause (y) (1) any increase to any equity incentive or similar plans contemplated in connection with the Qualified Public Offering, and (2) shares of Common Stock issued by the Company in the Qualified Public Offering itself.

"***Conversion Shares***" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;with respect to an End Date Conversion, the Applicable Preferred Stock at the time of such End Date Conversion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;with respect to a Deemed Liquidation Event Conversion, the Applicable Preferred Stock at the time of such Deemed Liquidation Event Conversion; <u>provided</u>, that solely in the case of a Deemed Liquidation Event Conversion, notwithstanding anything in this Convertible Security, the Applicable Preferred Stock issued to the Holder in such conversion shall have an aggregate senior liquidation preference of not less than the aggregate senior liquidation preference the Holder would have received in respect of its Conversion Shares if the Conversion Price were calculated pursuant to clause (b) of the definition of "Conversion Price" but for purposes of this proviso excluding from such calculations pursuant to clause (b) the 2025 Convertible Securities and the 2025 Preferred Stock (or any shares of Common Stock issued or issuable upon conversion of such 2025 Preferred Stock) issued upon such conversion; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;with respect to a Mandatory Conversion, the class of common stock offered to the public in connection with the Qualified Public Offering.

"***Convertible Security***" means this Convertible Security.

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"***Convertible Securities***" means the aggregate of up to $100,000,000.00 of Convertible Securities in original investment amount issuable under the Purchase Agreement, of which this Convertible Security is one, each such Convertible Security in the form of this Convertible Security.

"***Convertible Securities Ranking and Priorities Agreement***" means that certain Convertible Securities Ranking and Priorities Agreement, dated as of the Restatement Date, by and among the Company, the holders (as of the Restatement Date) of all 2025 Convertible Securities and the holders (as of the Restatement Date) of all Convertible Securities.

"***Credit Agreement***" means that certain Credit Agreement dated as of April 8, 2021, by and among the Company, the lenders party thereto from time to time and Alter Domus (US) LLC, as administrative agent for the lenders, as it may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, including any extension of the Term Loan Maturity Date (as defined therein).

"***Credit Facilities***" means one or more debt facilities or commercial paper facilities, providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables), letters of credit, in each case, as amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to time (including increasing the amount of available borrowings thereunder or adding the Company's Subsidiaries as additional borrowers or guarantors thereunder).

"***Deemed Liquidation Event***" has the meaning ascribed to that term in the Restated Certificate.

"***Direct Listing***" means the listing of Common Stock or any other equity securities of the Company or any of its Subsidiaries without an underwriting on the New York Stock Exchange, The NASDAQ Stock Market LLC or any other exchange.

"***Discount Factor***" means an amount, expressed as a percentage, equal to one (1) minus the Discount Rate then in effect.

"***Discount Rate***" means a discount, expressed as a percentage, equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;20% until the day before the date that is eighteen months from the date of the Purchase Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;22.5% for the period from the date that is eighteen (18) months from the date of the Purchase Agreement until the day before the date that is the second anniversary of the date of the Purchase Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;25% for the period from the second anniversary of the date of the Purchase Agreement until the day before the date that is thirty (30) months after the date of the Purchase Agreement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;27.5% for the period from the date that is thirty (30) months after the date of the Purchase Agreement until the day before the date that is the third anniversary of the date of the Purchase Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;30% for the period from the third anniversary of the date of the Purchase Agreement until the day before the date that is forty two (42) months from the date of the Purchase Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;32.5% for the period from the date that is forty two (42) months from the date of the Purchase Agreement until the day before the date that is the fourth anniversary of the date of the Purchase Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;35% from the fourth anniversary of the date of the Purchase Agreement until this Convertible Security is converted or is repaid pursuant to this Agreement; provided, however, that under no circumstances shall the Discount Rate exceed 35%.

"***Dollars***," "***dollars***" or use of the sign "***$***" means only lawful money of the United States and not any other currency, regardless of whether that currency uses the "$" sign to denote its currency or may be readily converted into lawful money of the United States.

"***End Date***" means, unless extended by the mutual agreement of the Majority Holders and the Company, and subject to Section 2.2, the earliest of (a) the date that is 176 days after the Term Loan Maturity Date (as defined in that certain Credit Agreement, including, for the avoidance of doubt, any period during which the Holder has obligations under the Subordination Agreement to the Lenders as a deemed extension to the Term Loan Maturity Date), provided that the End Date calculated pursuant to this clause (a) shall not be earlier than October 1, 2025, (b) immediately prior to any voluntary or involuntary liquidation, dissolution or winding up of the Company that is not a Deemed Liquidation Event, or (c) the date specified in a Default Notice (as defined in Section 4.2) duly delivered pursuant to Section 4.2; <u>provided</u>, that notwithstanding anything in this Convertible Security to the contrary, upon written notice duly executed by the Majority Holders delivered to the Company at any time on or prior to the date that is forty-five (45) days prior to the End Date (as calculated pursuant to clause (a) of this definition and Section 2.2) (the "***End Date Extension Deadline***"), the End Date shall be automatically extended to the 2025 CS End Date, if later than the End Date of this Convertible Security. For the avoidance of doubt, if the 2025 CS End Date is amended, extended, or otherwise changed after the End Date Extension Deadline, the Majority Holders may, upon written notice duly executed and delivered to the Company within 30 days of the written notice provided by the Company pursuant to Section 6.4, align the End Date with the 2025 CS End Date (as amended, extended or otherwise changed).

"***End Date Conversion***" has the meaning set forth in Section 5.2.1.

"***End Date Conversion Notice***" has the meaning set forth in Section 5.2.1.

"***End Date Repayment Notice***" has the meaning set forth in Section 2.1.2.

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"***Event of Default***" has the meaning set forth in Section 4.

"***GAAP***" means generally accepted accounting principles, as recognized by the American Institute of Certified Public Accountants

"***Hedge Agreement***" means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement.

"***Holders***" means holders of Convertible Securities, including without limitation the Holder of this Convertible Security, and each of them shall be a "***Holder***".

"***Investment Balance***" means, as of any applicable time, the then outstanding portion of the Initial Investment Amount of this Convertible Security that has not then been repaid, and all then accrued but unpaid yield under this Convertible Security.

"***Investment Document***" means each of this Convertible Security, the other Convertible Securities, the Purchase Agreement, and any amendments or waivers of such documents.

"***IRA***" has the meaning set forth in Section 6.2 of this Convertible Security.

"***Lien***" means any mortgage, lien, pledge, charge, security interest or other encumbrance upon or in any property or assets (including accounts, contract rights and conditional sale and other title retention agreements) owned by the Company or any of its Subsidiaries.

"***Lost Convertible Security Documentation***" means documentation satisfactory to the Company with regard to a lost or stolen Convertible Security, including, if required by the Company, an affidavit of lost Convertible Security and an indemnification agreement by Holder in favor of the Company and in customary form with respect to such lost or stolen Convertible Security.

"***Majority Holders***" shall mean, as of any relevant date, Holders holding a majority of the aggregate Investment Balances of all the Convertible Securities then outstanding.

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"***Market Capitalization***" means the market capitalization of the Company based on the price per share sold to the public in the Qualified Public Offering, measured as of immediately prior to the closing of the Qualified Public Offering.

"***Material Subsidiary***" means, as of any date of determination, any Subsidiary that, on a consolidated basis with its Subsidiaries, has: (a) assets in excess of 5% of the consolidated total assets as of the Company's most recent fiscal quarter ended; or (b) annual revenues in excess of 5% of the consolidated revenues of the Company and its Subsidiaries as of the Company's most recent fiscal quarter ended.

"***Permitted Indebtedness***" is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness incurred by the Company or any of its Subsidiaries pursuant to one or more Credit Facilities (including the Senior Secured Credit Facility) in an aggregate principal amount (for all Credit Facilities) not to exceed $50,000,000 at any one time outstanding approved by the Board (including a majority of directors designated by holders of the Company's preferred stock); provided that such Credit Facilities do not provide for any warrant coverage and are not otherwise convertible into equity upon their terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Capital Lease Obligations and purchase money indebtedness of the Company or any Subsidiary thereof incurred solely to finance the acquisition, installation, construction or improvement of any equipment, real property or other fixed assets (and any renewals, replacements, refinancings or extensions thereof) in an aggregate amount not to exceed $250,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness of the Company or any Subsidiary under Hedge Agreements entered into in order to manage existing or anticipated interest rate, exchange rate or commodity price risks and not for speculative purposes and Cash Management Agreements which in all cases do not exceed $10,000,000 in the aggregate; provided that, in each case, such Hedge Agreements and Cash Management Agreements are consistent with a Company cash management policy that is approved by the Board (including a majority of directors designated by holders of the Company's preferred stock);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness in respect of letters of credit issued in the ordinary course of business for the account of the Company or the account of any of its Subsidiaries that are fully cash collateralized;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;(i) unsecured indebtedness to trade creditors incurred in the ordinary course of business and (ii) customer deposits and advance payments received in the ordinary course of business from customers for goods or services purchased in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;guarantees (including keep-wells and support agreements) by the Company or any Subsidiary in respect of indebtedness of the Company or any Subsidiary not otherwise prohibited under any of the Investment Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;intercompany indebtedness between the Company and any of its wholly-owned Subsidiaries or between any of the Company's wholly-owned Subsidiaries; <u>provided</u> that the foregoing shall be deemed to include Subsidiaries which are required by applicable law to have a second stockholder, to the extent so required by applicable law (each a "***Foreign Sub***");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness arising from the honoring by a bank or other financial institution of a check, draft or other similar instrument drawn against insufficient funds in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness in respect of bank guarantees, surety or performance bonds and similar instruments issued for the Company's account or the account of any of the Company's wholly-owned Subsidiaries in the ordinary course of the Company's business in order to provide security for: (i)workers' compensation claims, unemployment insurance and other types of social security and employee health and disability benefits, or casualty-liability insurance, payment obligations in connection with self-insurance or similar requirements; and (ii) tenders, completion guarantees, statutory obligations, surety, environmental or appeal bonds, bids, leases, government contracts, contracts (other than for borrowed money), performance bonds or other obligations of a like nature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness arising from agreements of the Company or any of its Subsidiaries providing for the indemnification, adjustment of purchase price, earn-out, royalty, milestone or similar obligations, in each case assumed with the acquisition or disposition of any business, which acquisition or disposition is approved by the Board (including a majority of directors designated by holders of the Company's preferred stock);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness incurred by the Company or any of its Subsidiaries consisting of the financing of insurance premiums receivable by the Company in the ordinary course of business, if the Board (including a majority of directors designated by holders of the Company's preferred stock) approves of the Company incurring such indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness secured by Liens permitted under clauses (b) of the definition of "Permitted Liens" hereunder; and

extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (m) above; provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon the Company or its Subsidiary, as the case may be.

"***Permitted Liens***" are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Liens existing on the Restatement Date;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being contested in good faith and for which the Company maintains adequate reserves on its books;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing indebtedness permitted under clause (a) or (b) of the definition of "Permitted Indebtedness" hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Liens and other credit support provided in respect of indebtedness under clause (c) or (d) of the definition of "Permitted Indebtedness" hereunder; provided that any such Liens shall attach only to cash and cash equivalents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the ordinary course of business so long as such Liens attach only to inventory and which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Liens to secure payment of workers' compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in clauses (a) or (b) of this definition of "Permitted Liens", but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;leases or subleases of real property granted in the ordinary course of the Company's business (or, if referring to another Person, in the ordinary course of such Person's business), and leases, subleases, licenses or sublicenses of personal property (including intellectual property) granted in the ordinary course of the Company's business (or, if referring to another Person, in the ordinary course of such Person's business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of financial institutions arising in connection with the Company's deposit and/or securities accounts held at such institutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Liens imposed by mandatory provisions of law of landlords, carriers, warehousemen, bailees, mechanics and materialmen incurred in the ordinary course of business for sums that are (i) not yet more than 30 days past due or (ii) being contested in good faith by appropriate proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Liens incurred in the ordinary course of business in connection with worker's compensation, unemployment insurance or other forms of governmental insurance or benefits, insurance, surety bonds, or other obligations of a like nature or to secure the performance of

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letters of credit, banker's acceptances, bids, tenders, statutory obligations, leases and contracts (other than for borrowed money) in each case entered into in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;(i) deposits or pledges made in the ordinary course of business to secure the performance of bids, trade and commercial contracts and leases and the payment of rent (other than indebtedness), statutory obligations, surety bonds (other than bonds related to judgments or litigation), performance bonds and other obligations of a like nature incurred in the ordinary course of business; and (ii) deposits or pledges in respect of letters of credit, bank guarantees, or similar instruments that have been posted in the ordinary course of business of the Company or any Subsidiary to support payment of the items set forth in subclause (i) of this clause (m);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;encumbrances (i) in the nature of zoning restrictions, easements, and rights or restrictions of record or other similar encumbrances on the use of real property, which do not materially detract from the value of such property or materially impair the use thereof in the ordinary conduct of business of the applicable Person or which are insured over by title insurance and (ii) such as any zoning, building or similar laws or rights reserved to or vested in any governmental authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from the filing of precautionary uniform commercial code financing statements relating solely to personal property leased pursuant to operating leases entered into in the ordinary course of business of the Company and its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;any interest or title of a licensor, sublicensor, lessor or sublessor with respect to any assets under any inbound license or lease agreement entered into by the Company or any Subsidiary in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Liens in the nature of: (i) customary setoff rights in favor of any counterparty to any Hedge Agreements and (ii) setoff rights granted to third parties pursuant to trade and other similar contracts with the Company or any Subsidiary and limited to payments owed to the Company or any Subsidiary under such contracts that do not constitute indebtedness for borrowed money, and such contracts are not secured by any property of the Company or any Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;other Liens securing indebtedness not exceeding $100,000 in the aggregate at any one time outstanding.

"***Person***" means an individual, corporation, limited liability company, partnership, association, joint-stock company, trust, unincorporated organization, joint venture or other entity or any governmental authority.

"***Promised***" means, with respect to any capital stock or other securities of the Company, any written or oral agreement by which the Company may be obligated to issue such stock or securities to any Person, whether or not subject to approval of the Board (for example, an offer letter indicating a certain number of options to be received by a new employee).

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"***Qualified Public Offering***" means sale of shares of Common Stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act, (x) resulting in at least $150,000,000 of proceeds, net of underwriting discounts and commissions, to the Company that results in the Common Stock being listed on a national exchange, and (y) pursuant to which all of the Company's outstanding preferred stock is actually converted into Common Stock. For the avoidance of doubt, a Direct Listing or a SPAC Transaction shall not be a Qualified Public Offering.

"***Reference Valuation***" means the sum of (a) the aggregate Investment Balances of all outstanding Convertible Securities *divided by* the Discount Factor, plus (b) the aggregate 2025 Investment Balances of all outstanding 2025 Convertible Securities, plus (c) the aggregate amount of all outstanding Senior Instruments (including principal and accrued and unpaid interest or yield) thereunder and any penalties or premiums that would be associated with the full repayment and retirement of such Senior Instruments).

"***Restated Certificate***" means the Company's Restated Certificate of Incorporation as filed on May 19, 2025.

"***Securities Act***" means the U.S. Securities Act of 1933, as amended.

"***Senior Instruments***" means, collectively, the Credit Agreement, the Credit Facilities and any other securities (debt, equity or otherwise) or indebtedness of the Company or any of its Subsidiaries ranking senior to, or pari passu with, the Convertible Securities or the 2025 Convertible Securities.

"***Series F Senior Preferred Stock***" means the Series F Senior Preferred Stock, par value $0.0001 per share, of the Company.

"***SPAC Transaction***" means a business combination (whether in the form of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, similar business combination or otherwise) of the Company or any of its Subsidiaries with or into a special purpose acquisition company or "blank-check" company (or a subsidiary thereof) (any of the foregoing, a "***SPAC***") after which the Company (or any of its Subsidiaries), the SPAC or any entity resulting from such business combination has securities trading on the New York Stock Exchange, The NASDAQ Stock Market LLC or any other exchange.

"***Subordination Agreement***" means that certain Subordination Agreement, date as of April 8, 2021, by and among Greenoaks Capital Opportunities Fund II LP and Greenoaks Capital MS LP - Dixon Dock Series, and Alter Domus (US) LLC, a Delaware limited liability company, as it may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"***Subsidiary***" means, as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other

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managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless the context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounting Terms; GAAP</u>. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed and interpreted in accordance with GAAP as in effect from time to time; provided that, if the Company notifies the Holders that it requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Restatement Date in GAAP or in the application thereof on the operation of such provision, regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then the Holders and the Company shall negotiate in good faith to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Majority Holders) and until so amended, any ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein; provided, further, that all terms of an accounting or financial nature (including, without limitation, the definitions of Capital Lease Obligations) shall be construed without giving effect to any changes to the current GAAP accounting model for leases of the type described in the FASB and IASB joint exposure draft published on August 17, 2010 entitled "Leases (Topic 840)" or otherwise arising out of the FASB project on lease accounting described in such exposure draft.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;<u>PAYMENT AT END DATE</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 2.2, if this Convertible Security has not been previously fully converted, then the then-outstanding Investment Balance of this Convertible Security shall be due and payable in full:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1&nbsp;&nbsp;&nbsp;&nbsp;in the case of the occurrence of the End Date pursuant to clause (b) or clause (c) of the definition thereof, as provided in Section 4.2, subject to Section 5.2.1;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2&nbsp;&nbsp;&nbsp;&nbsp;in the case of the occurrence of the End Date pursuant to clause (a) of the definition thereof, at the time specified in a written notice delivered to the Company by the Majority Holders, which time shall be any time beginning on the End Date (such notice delivered by the Majority Holders, an "***End Date Repayment Notice***"); <u>provided</u> that if a Default Notice shall have been duly delivered pursuant to Section 4.2 following the occurrence of the End Date pursuant to clause (a) thereof, then the outstanding Investment Balance of this Convertible Security shall be due and payable as provided in Section 2.1.1; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3&nbsp;&nbsp;&nbsp;&nbsp;by the Company as provided in the last sentence of Section 5.2.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;If at the time of any End Date, the repayment of the Convertible Securities would then constitute a breach of the Credit Agreement or the Subordination Agreement, such End Date may be extended at the option of the Majority Holders until the date that is thirty 30 days following the day on which written notice is provided, executed by both the Company and the Lenders, that repayment on or after the date of such notice does not constitute such a breach. Additionally, if the Term Loan Maturity Date (as defined in the Credit Agreement) is not April 8,

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2027, and the Company has not provided written notice of such modified Term Loan Maturity Date within 90 days of the occurrence thereof, then the End Date set forth in clause (a) may be extended at the option of the Majority Holders for up to the number of days past the Term Loan Maturity Date that have elapsed before such written notice was provided by the Company minus 90 days (it being understood that notice will be deemed given pursuant to information obtained by virtue of Board observation rights, stockholder approvals and other governance matters where such information is actually provided to Holder's legal team by email to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;). For the avoidance of doubt, references to the "End Date" as provided herein shall mean the "End Date" as extended pursuant to this Section 2.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;Yield on this Convertible Security shall continue to accrue through the End Date. This Convertible Security may not be repurchased or redeemed, or any yield or other portion of the Investment Amount otherwise repaid, prior to the End Date (or date of conversion in full of the Convertible Securities in accordance herewith), without the prior written consent of the Majority Holders, except for conversions and payment of cash in lieu of the issuance of fractional shares pursuant to the terms hereof. For the avoidance of doubt, subject to the other terms and conditions of this Convertible Security and the Purchase Agreement, the Company may pay, repurchase and/or redeem the Convertible Securities on and after the End Date without the consent of any Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;<u>CONVERTIBLE SECURITIES PARI PASSU; APPLICATION OF</u> <u>PAYMENTS</u>**. Each of the Convertible Securities shall rank equally without preference or priority of any kind over one another, but senior and in all rights, privileges and preferences to all other shares of the Company's capital stock and the 2025 Convertible Securities, and all payments and recoveries on the Convertible Securities shall be paid and applied ratably and proportionately on the Investment Balances of all outstanding Convertible Securities on the basis of such Investment Balances. Subject to the conversion of the Convertible Securities as set forth herein and the foregoing sentence, all payments will be applied <u>first</u> to the repayment of accrued fees and expenses payable under this Convertible Security, <u>then</u> to accrued yield until all then outstanding accrued yield has been paid in full, and <u>then</u> to the repayment of the Investment Balance until the entire Investment Amount has been paid in full. If after all applications of such payments have been made as provided in this Section 3, the remaining amount of such payments that are in either case in excess of the aggregate Investment Balance of all outstanding Convertible Securities, such excess amount shall be returned to the Company. Notwithstanding the foregoing, all payments and recoveries on the Convertible Securities shall be subject to the Credit Agreement and the Subordination Agreement (in each case, to the extent such agreement is in effect).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;<u>EVENTS OF DEFAULT</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;Each of the following events shall constitute an "***Event of Default***" hereunder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1&nbsp;&nbsp;&nbsp;&nbsp;the Company failing to make any payment of the Investment Balance, or any accrued and unpaid expenses, when due, which is not cured within three (3)

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Business Days of such failure; <u>provided</u> that no Event of Default (other than pursuant to this Section 4.1.1) shall have occurred

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2&nbsp;&nbsp;&nbsp;&nbsp;(i) default by the Company with respect to any mortgage, agreement or other instrument under which there may be outstanding indebtedness for money borrowed having a principal amount in excess of $5,000,000.00, resulting in such indebtedness becoming or being declared due and payable prior to its stated maturity date and following an event of default with respect to such indebtedness that is not duly annulled, rescinded or waived or such indebtedness is not paid or discharged or (ii) a 2025 Event of Default has occurred and is continuing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3&nbsp;&nbsp;&nbsp;&nbsp;the Company or any Material Subsidiary (i) consenting to the appointment of a receiver or similar official for any part of the Company's property or assets, (ii) making a general assignment for the benefit of creditors, (iii) consenting to becoming a debtor or alleged debtor in a case under the U.S. Bankruptcy Code or other applicable bankruptcy laws or (iv) commencing a voluntary case or similar proceeding under any bankruptcy, insolvency or similar law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.4&nbsp;&nbsp;&nbsp;&nbsp;the commencement of an involuntary case or proceeding against the Company or any Material Subsidiary with respect to its debts under any bankruptcy, insolvency or similar law and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of thirty (30) consecutive days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.5&nbsp;&nbsp;&nbsp;&nbsp;the appointment of a receiver for any of the Company's or any Material Subsidiary's property or assets or any Material Subsidiary of the Company otherwise becomes the subject of any bankruptcy or similar proceeding for the general adjustment of its debts or for its liquidation, unless such appointment or proceeding is dismissed within thirty (30) consecutive days of such appointment or commencement of proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.6&nbsp;&nbsp;&nbsp;&nbsp;any failure of the Company to automatically convert the Convertible Securities as provided in Section 5.2.2;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.7&nbsp;&nbsp;&nbsp;&nbsp;a material breach by the Company of any covenant set forth herein or in the Purchase Agreement, which is incapable of being cured or which is not cured within ten (10) days of such breach, or any representation or warranty contained in the Purchase Agreement which was materially incorrect, false or misleading in any material respect as of the date it was made or deemed made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.8&nbsp;&nbsp;&nbsp;&nbsp;the Board or shareholders adopting a resolution for the liquidation, dissolution or winding up of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.9&nbsp;&nbsp;&nbsp;&nbsp;any breach by the Company or any holder of any 2025 Convertible Security (other than the Holder or any Affiliate of the Holder) of the Convertible Securities Ranking and Priorities Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;The Company shall promptly (but in no event more than five (5) Business Days following the applicable breach, or the knowledge of having made a materially incorrect, false or misleading representation or warranty in the Purchase Agreement) provide notice to the Majority Holders of the breach of any covenant set forth herein or the Purchase Agreement or if any representation or warranty made or deemed made in the Purchase Agreement shall prove to have been materially incorrect, false or misleading in any material respect when so made or deemed made. The Company shall also provide prompt notice of any Event of Default and/or the occurrence of the End Date pursuant to clause (b) of such definition. Upon the occurrence of any Event of Default (other than an Event of Default specified in Section 4.1.3, Section 4.1.4 or Section 4.1.5 with respect to the Company) and/or the occurrence of the End Date pursuant to clause (b) of such definition, the Majority Holders, by notice in writing to the Company (a "***Default Notice***"), may declare all accrued but unpaid expenses, and the Investment Balances outstanding on the Convertible Securities, immediately due and payable in full, or may declare the Convertible Securities converted as specified in Section 5.2.1; provided that such specified date shall be the date of the Default Notice in the event of any Event of Default under Section 4.1.6 or Section 4.1.8. If an Event of Default specified in Section 4.1.3, Section 4.1.4 or Section 4.1.5 with respect to the Company occurs and is continuing, all accrued but unpaid expenses, and the Investment Balance shall become immediately due and payable in full without further notice or demand by any Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;Any monies collected by any Holder pursuant to this Section 4 with respect to the Convertible Securities shall be applied in the order specified under Section 3 herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;The Majority Holders shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Holders; provided, however, that such direction shall not be in conflict with any rule of law or with the Purchase Agreement or any Convertible Security. The Majority Holders may (on behalf of all Holders) waive any past default or Event of Default hereunder and its consequences except (i) any Event of Default specified in Section 4.1.3, Section 4.1.4 or Section 4.1.5 or Section 4.1.6, or (ii) any continuing defaults relating to (x) a default in the payment of any Investment Balance when due that has not been cured pursuant to the provisions of Section 4.1, or (y) any other failure by the Company to pay or deliver, as the case may be, the consideration due upon conversion of the Convertible Securities. Upon any such waiver the Company and the Holders of the Convertible Securities shall be restored to their former positions and rights hereunder; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. Whenever any default or Event of Default hereunder shall have been waived as permitted by this Section 4.4, said default or Event of Default shall for all purposes of the Convertible Securities and the Purchase Agreement be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;<u>CONVERSION</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;**<u>Conversion Upon a Qualified Public Offering</u>**. Subject to Section 6.1.8, at and as of the consummation of a Qualified Public Offering, the entire Investment Balance then outstanding shall automatically be cancelled and converted (such conversion, the "***Mandatory Conversion***") into that number of Conversion Shares obtained by dividing (a) the Investment Balance by (b) the then-applicable Conversion Price, plus cash in lieu of any fractional share. Such conversion shall be deemed to occur under this Section 5.1 as of immediately prior to the consummation of the Qualified Public Offering, without regard to whether Holder has then delivered to the Company this Convertible Security (or Lost Convertible Security Documentation) or executed any other documents required to be executed by the investors purchasing the Conversion Shares (collectively, the "***Conversion Documentation***") in the Qualified Public Offering, it being understood that evidence of ownership of the Conversion Shares (including any stock certificate or a notation of book entry) shall not be delivered to Holder unless and until the Company receives the Conversion Documentation. The Company shall give the Holder not less than twenty (20) days advance notice of the anticipated consummation of a Mandatory Conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;**<u>Conversion Other Than Upon A Qualified Public Offering</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>End Date Conversion</u>. On and as of the End Date, the Investment Balance of all of the Convertible Securities shall be converted into Conversion Shares if the Majority Holders have elected, as specified in a Default Notice (in the event of an End Date occurring pursuant to clause (b) or (c) of the definition thereof) or, in the event of an End Date occurring pursuant to clause (a) of the definition thereof, via written consent delivered to the Company prior to 11:59 p.m. Pacific time on the forty-fifth (45<sup>th</sup>) day prior to the End Date, to convert the Convertible Securities (such a written consent, the "***End Date Conversion Notice***"). If the Majority Holders have provided an End Date Conversion Notice, or a Default Notice specifying that the Convertible Securities shall be converted pursuant to this Section 5.2.1, then all of the respective Investment Balances of all of the Convertible Securities shall convert into that number of Conversion Shares obtained by dividing, in the case of each Convertible Security, (a) the Investment Balance of such Convertible Security by (b) the then-applicable Conversion Price, plus cash in lieu of any fractional share (such conversion, the "***End Date Conversion***"). Any End Date Conversion shall be deemed to have occurred as of the close of business on the End Date, without regard to the date on which an End Date Conversion Notice or Default Notice, as applicable, has been delivered by the Majority Holders or, as to this Convertible Security, whether the Holder has then delivered to the Company this Convertible Security (or Lost Convertible Security Documentation), it being understood that evidence of ownership of the Conversion Shares (including any stock certificate or a notation of book entry) shall not be delivered to Holder unless and until the Company receives the Conversion Documentation. In the event of any conversion of the Convertible Security pursuant to this Section 5.2.1, the Holder shall be bound by all transfer restrictions, drag-along obligations, proxies and other voting restrictions with respect to the shares issued upon the conversion of the Convertible Security that are applicable to all of the Company's shares of preferred stock then outstanding. The Holder agrees to execute such documents as are reasonably requested by the Company to give effect to

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the foregoing. In the event of the occurrence of an End Date pursuant to clause (a) of the definition thereof, if the Company does not receive an End Date Conversion Notice prior to the End Date, the Company may elect to repay the then-outstanding Investment Balance of this Convertible Security on such End Date, without a further written notice from the Majority Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Deemed Liquidation Event Conversion</u>. If the Company consummates a Deemed Liquidation Event, the respective Investment Balances of all of the Convertible Securities shall be automatically converted, without notice from any Holder, into that number of Conversion Shares obtained by dividing, in the case of each Convertible Security, (a) the Investment Balance of such Convertible Security by (b) the then-applicable Conversion Price, contingent upon the completion of such Deemed Liquidation Event, plus cash in lieu of any fractional share (such conversion, the "***Deemed Liquidation Event Conversion***"). Such conversion shall be deemed to occur under this Section 5.2.2 as of immediately prior to the consummation of the Deemed Liquidation Event Conversion, without regard to whether Holder has then delivered to the Company this Convertible Security (or Lost Convertible Security Documentation) or executed any other documents required to be executed by stockholders in connection with such Deemed Liquidation Event, it being understood that evidence of ownership of the Conversion Shares (including any stock certificate or a notation of book entry) shall not be delivered to Holder unless and until the Company receives the Conversion Documentation. The Company shall provide each Holder not less than twenty (20) days prior written notice of a Deemed Liquidation Event Conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;**<u>Certificates; No Fractional Shares</u>**. As soon as practicable after conversion of this Convertible Security pursuant to Section 5.1 or Section 5.2, as applicable, the Company at its expense will cause to be issued in the name of Holder and to be delivered to Holder, a certificate or certificates (which may be in electronic form; e.g. via the Carta platform) for the number of Conversion Shares to which Holder shall be entitled upon such conversion (bearing such legends as may be required by applicable state and federal securities laws in the opinion of legal counsel of the Company), together with any other securities and property to which Holder is entitled upon such conversion under the terms of this Convertible Security. No fractional shares shall be issued upon conversion of this Convertible Security. If upon any conversion of this Convertible Security (and after aggregating the amounts of all other Convertible Securities held by the same Holder which are converted at the same time as this Convertible Security), a fraction of a share would otherwise be issued, then in lieu of such fractional share, the Company shall pay to Holder an amount in cash equal to such fraction of a share multiplied by the applicable Conversion Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;**<u>Authorized Capital</u>**. The Company covenants that it shall take and cause to be taken all necessary corporate and other actions, and covenants to cause all necessary stockholders to take and causes to be taken all necessary corporate and other actions, which are necessary or advisable to effectuate the conversion of this Convertible Security as set forth in this instrument, including by causing to be duly authorized all necessary shares of existing or new series of preferred stock as the Company shall otherwise become obligated to issue by the terms of this Section 5. Without limiting any of its other rights or remedies available at law or in

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equity, the Company agrees to indemnify and hold harmless the Holder for any and all out-of-pocket costs and expenses (including reasonable attorneys' fees and costs), and other direct losses, incurred by the Holder and directly caused by any failure of the Company to take the actions specified in this Section 5.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;**<u>HSR Election Notice</u>**. Notwithstanding anything to the contrary in this Section 5, prior to the acquisition of Conversion Shares to be issued pursuant to Section 5.1 or 5.2.1, the Holder may by written notice to the Company elect to receive Company capital stock that otherwise has the same dividends, liquidation, conversion, voting, and protective provisions as the Conversion Shares, but that does not confer the Holder the right to vote for the board of directors, and that otherwise qualifies as non-voting securities pursuant to the rules and regulations of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The Holder must deliver written notice (the "***Election Notice***") of its election to receive non-voting securities within ten (10) days of the Holder's receipt of a Mandatory Conversion or within ten (10) days of the issuance by the Majority Holders of a Default Notice or End Date Conversion Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;<u>COVENANTS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;**<u>Negative Covenants</u>.** The Company shall not (and shall cause each of its Subsidiaries not to) without the prior written consent of the Majority Holders (in addition to any other written consent or vote required to be obtained pursuant to the Company's Certificate of Incorporation as in effect from time to time):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.1&nbsp;&nbsp;&nbsp;&nbsp;declare or pay any dividends or other distributions on any equity securities, including any dividends or distributions of non-cash assets or equity, other than (i) the accrual and payment of yield on the Convertible Securities and the 2025 Convertible Securities, in each case, pursuant to the terms thereof and the Convertible Securities Ranking and Priorities Agreement, (ii) the conversion of any of the Company's convertible equity securities (including the Convertible Securities and the 2025 Convertible Securities (subject to the Convertible Securities Ranking and Priorities Agreement)) into other securities pursuant to the terms of such convertible equity securities or otherwise in exchange thereof, (iii) a dividend on shares of Common Stock payable solely in shares of Common Stock, (iv) cash payments, in lieu of issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible into or exchangeable for the equity securities of the Company and (v) dividends by any Subsidiary to the Company or any wholly-owned Subsidiary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.2&nbsp;&nbsp;&nbsp;&nbsp;redeem or repurchase equity securities, except for (i) repurchases of equity securities at cost (or, if permitted by any agreement between the Company and the holder of the securities to be redeemed or repurchased, the lower of cost or fair market value) upon termination of service, (ii) repurchases made (A) pursuant to the exercise by the Company of rights of first refusal, or (B) otherwise, pursuant to one or more repurchase offers made to holders of Common Stock; provided that the Company may not purchase greater than $5,000,000.00 of equity securities in any fiscal year of the Company pursuant to this clause (ii), (iii) repurchases of the Convertible Securities pursuant to the terms thereof, (iv) cash payments, in lieu of issuance of fractional shares in connection with the exercise of warrants, options or

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other securities convertible into or exchangeable for the equity securities of the Company and (v) redemptions and repurchases of equity securities of any wholly-owned Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.3&nbsp;&nbsp;&nbsp;&nbsp;create, incur, authorize the creation of, issue, or authorize the issuance of, any indebtedness for borrowed money (excluding Permitted Indebtedness), which is (i) in excess of $100,000,000 (including accrued interest, penalties, fees and other payments to be made in respect thereof) or (ii) convertible into equity (other than warrant coverage not in excess of 2% of the principal amount of the principal amount of indebtedness otherwise permitted pursuant to clause (i) above that is approved by the Board, including a majority of directors designated by holders of the Company's preferred stock);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.4&nbsp;&nbsp;&nbsp;&nbsp;create, incur or grant any Lien, pledge or other security interest in the assets of the Company or its Subsidiaries (including any pledge of the equity of any Subsidiaries), other than Permitted Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.5&nbsp;&nbsp;&nbsp;&nbsp;engage in any transaction with (i) Shoaib Makani or Obaid Khan (the "***Founders***") or any immediate family member or Affiliate (other the Company's Subsidiaries) of any of the Founders (other than (x) indemnification agreements for any Founder that are approved by the Board, including a majority of directors designated by holders of the Company's preferred stock, (y) reasonable expense reimbursements for a Founder approved in accordance with Company policies, (z) cash compensation and benefits for each Founder that are approved by the Board, including a majority of directors designated by holders of the Company's preferred stock, (ii) any other officer or director, or any of their respective Affiliates (other than the Company's Subsidiaries) or immediate family members, except for (x) reasonable expense reimbursements approved in accordance with Company policies, (y) the exercise of a contractual right pursuant to any agreement approved by the Board, including a majority of disinterested directors, and (z) other transactions approved by the Board, including a majority of disinterested members, or (iii) any other holder of greater than 1% of the Company's capital stock, calculated on an as-converted basis, or any of their respective Affiliates (other than the Company's Subsidiaries) or immediate family members, other than (a) the exercise of a contractual right pursuant to any agreement approved by the Board, or (b) other transactions approved by the Board, including a majority of disinterested directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.6&nbsp;&nbsp;&nbsp;&nbsp;effect any material amendment to, or waiver of, the powers, preferences or special rights of the Company's preferred stock (in each case whether by merger, recapitalization, amendment or otherwise), which, in each case, would adversely impact any of the powers, preferences or special rights of the Applicable Preferred Stock in a disproportionate manner to the Company's other series of preferred stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.7&nbsp;&nbsp;&nbsp;&nbsp;create or acquire any Subsidiaries, or take any other minority equity interest in any other entity, other than Subsidiaries that are wholly owned, directly or indirectly, by the Company; <u>provided</u> that the foregoing shall not be deemed to prohibit the Company from creating or acquiring Foreign Subs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.8&nbsp;&nbsp;&nbsp;&nbsp;consummate a Qualified Public Offering where (i) the Conversion Price of this Convertible Security is calculated pursuant to clause (c)(i) of the definition of

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"Conversion Price" and (ii) the Market Capitalization of the Company is less than or equal to the Reference Valuation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.9&nbsp;&nbsp;&nbsp;&nbsp;consummate the sale of shares of Common Stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act that is not a Qualified Public Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.10&nbsp;&nbsp;&nbsp;&nbsp;effect (or consent to effecting) or consummate a Direct Listing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.11&nbsp;&nbsp;&nbsp;&nbsp;effect (or consent to effecting), close, enter into or consummate a SPAC Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;**<u>Information and Inspection Rights</u>**. For so long as any Holder, collectively with its Affiliates and immediate family members, holds Convertible Securities of not less than $50,000,000 in Initial Investment Amount, such Holder (a "***Major Holder***") shall have the rights set forth in Section 2.1 and Section 2.2 of that certain Amended and Restated Investors' Rights Agreement dated as of the Restatement Date (as in effect on such date) (the "***IRA***") which rights shall apply *mutatis mutandis* to such Holders as though they were "Major Investors" thereunder; <u>provided</u> that such rights may not be waived as to any Major Holder without the consent of such Major Holder; and <u>provided</u>, <u>further</u> that each such Major Holder shall be subject to the provisions of Section 2.3 of the IRA with respect to any information obtained by such Major Holder pursuant to this Section 6.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;**<u>Market Stand-Off "MFN"</u>.** Each Holder agrees to be subject to the obligations set forth in Section 3.11 of the IRA, which obligations shall apply *mutatis mutandis* to such Holder; <u>provided</u> that if and to the extent that the Company agrees with any other stockholder of the Company who is a Major Investor as of the Restatement Date that such obligations may be waived in whole or in part, or if the Standoff Period (as defined in the IRA) is shortened, then such waiver or shortened Standoff Period shall apply to such Holder automatically and without further action on the part of such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;**<u>2025 CS End Date Extension</u>**. If the 2025 CS End Date is amended, extended, or otherwise changed after the Restatement Date (including specifically if it is extended beyond or shortened before the seventh anniversary of the original issue date for the 2025 Convertible Securities), the Company shall promptly (and in any event within five (5) Business Days of such action) provide written notice thereof to the Holder, which notice must specify all of the terms and conditions of such amendment, extension or other change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;<u>GENERAL PROVISIONS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;**<u>Waivers</u>**. The Company and all endorsers of this Convertible Security hereby waive notice, presentment, protest and notice of dishonor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;**<u>Attorneys' Fees</u>**. In the event any party is required to engage the services of an attorney for the purpose of enforcing this Convertible Security, or any provision thereof,

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the prevailing party shall be entitled to recover its reasonable expenses and costs actually incurred in enforcing this Convertible Security, including attorneys' fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;**<u>Transfer</u>**. The Holder shall be permitted to assign, convey or transfer, in whole or in part its rights and obligations evidenced by this Convertible Security, and any rights or obligations applicable to the Holder that are set forth in the Purchase Agreement, freely and without restrictions other than those set forth in Section 4 of the Purchase Agreement and the obligations set forth in Section 3.12 of the IRA, which restrictions shall apply *mutatis mutandis* to this Convertible Security. The rights and obligations of the Company and Holder under this Convertible Security and the other Investment Documents shall be binding upon and benefit their respective permitted successors, transferees and assigns. The Company shall not amend, terminate, waive or otherwise modify any provision of this Section 7.3 without the prior written consent of all Holders. The Company shall maintain a register for the recordation of the names and addresses of the Holder and its assignees, and the amounts of Investment Balance owing to any of them hereunder from time to time (the "***Register***"). The entries in the Register shall be conclusive absent manifest error, and the Company, Holder and its assignees shall treat each person whose name is recorded in the Register pursuant to the terms hereof as a Holder hereunder for all purposes of this Convertible Security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;**<u>Governing Law</u>**. This Convertible Security shall be governed by and construed under the Delaware General Corporation Law to the extent of matters within the scope thereof, and otherwise by the internal laws of the State of New York as applied to agreements among New York residents entered into and to be performed entirely within the State of New York, without reference to principles of conflict of laws or choice of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5&nbsp;&nbsp;&nbsp;&nbsp;**<u>Headings</u>**. The headings and captions used in this Convertible Security are used only for convenience and are not to be considered in construing or interpreting this Convertible Security. All references in this Convertible Security to sections and exhibits shall, unless otherwise provided, refer to sections hereof and exhibits attached hereto, all of which exhibits are incorporated herein by this reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6&nbsp;&nbsp;&nbsp;&nbsp;**<u>Notices</u>**. Unless otherwise provided herein, any notice required or permitted under this Convertible Security shall be given in writing and shall be deemed effectively given (i) when delivered if delivered personally, or, (ii) if sent by overnight express mail, at the earlier of its receipt or three (3) Business Days after deposit with a nationally recognized overnight courier, specifying next day delivery and written verification of receipt or (iii) sent by confirmed facsimile if sent during normal business hours of the recipient; if not, then on the next Business Day, at the address indicated for such party in the Purchase Agreement, or at such other address as any party hereto may designate for itself to receive notices by giving ten (10) days' advance written notice to all other parties in accordance with the provisions of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7&nbsp;&nbsp;&nbsp;&nbsp;**<u>Amendments and Waivers</u>.** This Convertible Security and all other Convertible Securities issued under the Purchase Agreement may be amended and provisions may be waived by the Convertible Security holders and the Company as provided in the Purchase Agreement. Any amendment or waiver effectuated in accordance with the Purchase

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Agreement shall be binding upon each holder of any Convertible Securities at the time outstanding, each future holder of the Convertible Securities and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8&nbsp;&nbsp;&nbsp;&nbsp;**<u>Severability</u>**. If one or more provisions of this Convertible Security are held to be unenforceable under applicable law, then such provision(s) shall be excluded from this Convertible Security to the extent they are held to be unenforceable and the remainder of the Convertible Security shall be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9&nbsp;&nbsp;&nbsp;&nbsp;**<u>Tax Forms</u>**. Holder or its registered assigns agrees to deliver to the Company one duly executed and completed United States Internal Revenue Service Form W-8BEN or other appropriate series of Form W-8 (and all required attachments) or W-9 (or successor thereto) as appropriate. Such forms or documents shall be delivered upon (i) issuance of the Convertible Securities, (ii) reasonable request of the Company, or (iii) at any time that a previously delivered form becomes obsolete or incorrect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10&nbsp;&nbsp;&nbsp;&nbsp;**<u>Specific Performance</u>.** The parties agree that in the event of any breach or threatened breach by the other party of any covenant, obligation or other agreement set forth herein, each party shall be entitled, without any proof of actual damages (and in addition to any other remedy that may be available to it), (i) to a decree or order of specific performance or mandamus to enforce the observance and performance of such covenant, obligation or other agreement and an injunction preventing or restraining such breach or threatened breach and (ii) no party hereto shall be required to provide or post any bond or other security or collateral in connection with any such decree, order or injunction or in connection with any related action or legal proceeding. Any and all remedies expressly conferred herein upon a party hereto shall be deemed to be cumulative with, and not exclusive of, any other remedy conferred hereby, or by law or in equity, and the exercise by a party hereto of any one remedy will not preclude the exercise of any other remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11&nbsp;&nbsp;&nbsp;&nbsp;**<u>Tax Treatment</u>.** The Company and the Holders shall treat the Convertible Securities as equity for U.S. federal income tax purposes except to the extent otherwise required by a "determination" within the meaning of Section 1313(a)(1) of the Code or any comparable provision of state or local law.

[*Signature page follows*]

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**IN WITNESS WHEREOF**, the Company has caused this Convertible Security to be signed in its name as of the date first written above.

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| |
|:---|
| **THE COMPANY** |
| MOTIVE TECHNOLOGIES, INC. |
| By: |
| &nbsp;&nbsp;&nbsp;&nbsp;Shoaib Makani, Chief Executive Officer |

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| |
|:---|
| **AGREED AND ACKNOWLEDGED:** |
| **HOLDER:** |
| By: |

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## Exhibit 4.4

**Exhibit 4.4**

*THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "****ACT****"), OR UNDER THE SECURITIES LAWS OF APPLICABLE STATES. THEY MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION UNDER SUCH LAWS OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENT. ANY PROPOSED TRANSFER OR RESALE OF SUCH SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER TO THE EFFECT THAT SUCH TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS.*

**MOTIVE TECHNOLOGIES, INC.** 

**CONVERTIBLE SECURITY**

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| | |
|:---|:---|
| Convertible Security No.: __ | Made as of __________ (the "***Issue Date***") |

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On and subject to the terms and conditions of this Convertible Security, for value received, Motive Technologies, Inc., a Delaware corporation (the "***Company***"), hereby promises to pay to _______________ or registered assigns expressly permitted hereunder ("***Holder***"), on the date determined in accordance with Section 2 hereof, if not earlier converted in accordance with this Convertible Security, the sum of _______________ (**$__________**) (the "***Initial Return Amount***"), together with the unpaid yield then accrued on the Initial Return Amount. Beginning on the one-year anniversary of the Issue Date, yield shall accrue at 18.0% per annum on the Initial Return Amount, which yield shall be compounded annually and shall be computed based on the actual number of days elapsed and on a year of 360 days (which shall deemed to be "per annum" for purposes of this Convertible Security). For clarity, no yield shall accrue hereunder at any time prior to the one-year anniversary of the Issue Date.

This Convertible Security has been issued pursuant to that certain Convertible Securities Purchase Agreement, dated as of May 20, 2025 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "***Purchase Agreement***"; capitalized terms used but not defined herein shall have the meanings set forth in the Purchase Agreement), by and among the Company, the original holder of this Convertible Security and certain other investors and is subject to the provisions of the Purchase Agreement. The following is a statement of the rights of the Holder of this Convertible Security and the terms and conditions to which this Convertible Security is subject, and to which Holder hereof, by the acceptance of this Convertible Security, agrees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;<u>DEFINITIONS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. The following definitions shall apply for purposes of this Convertible Security.

"***Affiliate***" means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under common control with such specified Person,

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including without limitation any general partner, managing member, officer or director of such specified Person or any venture capital fund now or hereafter existing that is controlled by one or more general partners or managing members of, or shares the same management company with, such specified Person.

"***Applicable Securities***" means, as of the date of a given conversion of this Convertible Security, a new series of the Company's preferred stock, reflecting the terms of either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the preferred stock of the Company issued in the Company's then most recently consummated *bona fide* equity financing of at least $50,000,000 (other than, for the avoidance of doubt, the GO Securities and the GO Preferred Stock) (<u>provided</u>, that such preferred stock is not junior (with respect to dividends, liquidation, conversion, voting, protective provisions or otherwise) to any other equity securities of the Company other than the GO Securities and the GO Preferred Stock and other than with respect to the voting rights of the Company's Class B Common Stock); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the then-most senior preferred stock of the Company (other than the GO Securities and the GO Preferred Stock) as reasonably determined by the Requisite Majority Holders in their discretion, if the preferred stock described in clause (i) is junior in any respect (with respect to dividends, liquidation, conversion, protective provisions or otherwise) to any other equity securities of the Company (other than the GO Securities and the GO Preferred Stock); provided, however, such equity securities may not be shares of Class B Common Stock, nor convertible into shares of Class B Common Stock,

in each case, identical to the series of the Company's preferred stock specified in clause (i) or (ii) of this definition, but for (A) the liquidation preference of such new series of preferred stock, which will be (1) junior in right of payment to the GO Securities and GO Preferred Stock and senior in right of payment to all other equity securities of the Company (other than, for the avoidance of doubt, the GO Securities and GO Preferred Stock), and (2) in the aggregate at least the Investment Balance of this Convertible Security as of such date, (B) the conversion ratio of such new series of preferred stock to shares of Class A Common Stock, which shall be one-to-one, and (C) series-specific protective provisions preventing the Company from (1) waiving, amending, removing or otherwise modifying the liquidation preference or anti-dilution protection of such new series of preferred stock, (2) issuing any stock that has, or reclassifying any then-existing stock to have, any preferences or rights with respect to liquidation, redemption or dividends, that are senior to or pari passu with the preferences and rights of such new series of preferred stock, in all cases of this clause (2) other than any GO Preferred Stock, or (3) redeeming any equity securities (such protective provision to be substantially identical to the covenant set forth in Section 6.1.2 hereof).

Notwithstanding the foregoing, if the foregoing series of preferred stock issued as the "***Applicable Securities***" would not have (a) a liquidation preference of at least one times the face amount and accrued yield of this Convertible Security calculated as of the date of conversion of this Convertible Security, (b) anti-dilution protection with respect to issuances of equity securities on or following such date of conversion at a price below the applicable Conversion Price that is at least as favorable to the Holder of this Convertible Security as the broad-based

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weighted-average protection formula applicable to the Series F Senior Preferred Stock as of the Initial Issue Date pursuant to the Restated Certificate (subject to exceptions that are applicable to the Series F Senior Preferred Stock as of the Initial Issue Date, or narrower), (c) rights with respect to dividends that are at least as favorable to the Holder of this Convertible Security as those enjoyed by the Series F Senior Preferred Stock as of the Initial Issue Date pursuant to the Restated Certificate, including at least an 8% non-cumulative dividend preference in the form currently enjoyed by holders of the Series F Senior Preferred Stock, (d) the inability to redeem or demand redemption of such shares of preferred stock at the option of the holder, or (e) series-specific protective provisions and other approval rights against conversion and regarding liquidation, anti-dilution protection and dividends that are substantially identical to, or more favorable to the Holder of this Convertible Security than, those enjoyed by the Series F Senior Preferred Stock as of the Initial Issue Date pursuant to the Restated Certificate, then the "***Applicable Securities***" shall instead consist of a new series of the Company's preferred stock that has the minimum rights, preferences and privileges set forth in clauses (a) through (e) of this definition to the extent that the Applicable Securities that would otherwise be issuable would not have such minimum rights, preferences and privileges, but which otherwise have the rights, preferences and privileges of the equity securities otherwise issuable as Applicable Securities pursuant to the previous paragraph.

Notwithstanding anything herein to the contrary, in no event shall the Applicable Securities be shares of Class B Common Stock or convertible into shares of Class B Common Stock.

"***Board***" means the Company's board of directors.

"***Business Day***" means a weekday on which banks are open for general banking business in San Francisco, California.

"***Capital Lease***" means, as to any Person, any lease (or other arrangement conveying the right to use) of property (whether real, personal or mixed) by such Person as lessee that, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of such Person.

"***Capital Lease Obligations***" of any Person means, on any date of determination, in respect of any Capital Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP.

"***Cash Management Agreement***" means any agreement to provide cash management services, including treasury, depository, overdraft, credit or debit card (including non-card electronic payables), electronic funds transfer (including automated clearing house funds transfers), and other cash management arrangements.

"***Class A Common Stock***" shall mean the Class A Common Stock, par value $0.0001 per share, of the Company.

"***Class B Common Stock***" shall mean the Class B Common Stock, par value $0.0001 per share, of the Company.

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"***Common Stock***" shall mean the common stock, par value $0.0001 per share, of the Company, including the Class A Common Stock, Class B Common Stock and any other class or series of common stock authorized following the date hereof.

"***Company***" has the meaning set forth in the preamble of this Convertible Security.

"***Conversion Price***" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;with respect to an End Date Conversion, the lowest price per share at which the Company issued preferred stock of the Company upon which the Applicable Securities is based;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;with respect to a Mandatory Deemed Liquidation Event Conversion, the price per share to be received with respect to the Applicable Securities in such Deemed Liquidation Event; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;with respect to a Mandatory Qualified Public Offering Conversion, the price per share at which the Class A Common Stock is issued to the public in a Qualified Public Offering.

"***Conversion Shares***" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;with respect to an End Date Conversion, the Applicable Securities at the time of such End Date Conversion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;with respect to a Mandatory Deemed Liquidation Event Conversion, the Applicable Securities at the time of such Mandatory Deemed Liquidation Event Conversion; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;with respect to a Mandatory Qualified Public Offering Conversion, Class A Common Stock.

"***Convertible Securities***" means the aggregate initial investment amount of up to $150,000,000.00 of Convertible Securities issuable under the Purchase Agreement, of which this Convertible Security is one, each such Convertible Security in the form of Convertible Security set forth in Exhibit B to the Purchase Agreement, in each case, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"***Credit Agreement***" means that certain Credit Agreement, dated as of April 8, 2021, by and among the Company, the lenders party thereto from time to time (the "***Senior Lenders***") and Alter Domus (US) LLC, as administrative agent for the lenders (the "***Senior Agent***"), as it may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, including any extension of the Term Loan Maturity Date (as defined therein).

"***Credit Facilities***" means one or more debt facilities or commercial paper facilities, providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables), letters of credit, in each case, as amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to

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time (including increasing the amount of available borrowings thereunder or adding the Company's Subsidiaries as additional borrowers or guarantors thereunder).

"***Deemed Liquidation Event***" has the meaning ascribed to that term in the Restated Certificate as in effect on the Initial Issue Date.

"***Direct Listing***" means the listing of Common Stock or any other equity securities of the Company or any of its Subsidiaries without an underwriting on the New York Stock Exchange, The NASDAQ Stock Market LLC or any other exchange.

"***Dollars***," "***dollars***" or use of the sign "***$***" means only lawful money of the United States and not any other currency, regardless of whether that currency uses the "$" sign to denote its currency or may be readily converted into lawful money of the United States.

"***End Date***" means, unless earlier converted in accordance with this Convertible Security or extended by the mutual agreement of the Requisite Majority Holders and the Company or by the Requisite Majority Holders pursuant to Section 2.2, the earliest to occur of (a) the seventh anniversary of the Initial Issue Date, (b) the date of any voluntary or involuntary liquidation, dissolution or winding up of the Company that is not a Deemed Liquidation Event, or (c) upon the occurrence and during the continuance of an Event of Default, the acceleration of all outstanding Convertible Securities by the Requisite Majority Holders.

"***End Date Conversion***" has the meaning set forth in Section 5.2.1.

"***End Date Conversion Notice***" has the meaning set forth in Section 5.2.1.

"***End Date Repayment Notice***" has the meaning set forth in Section 2.1.2.

"***Event of Default***" has the meaning set forth in Section 4.

"***GAAP***" means generally accepted accounting principles, as recognized by the American Institute of Certified Public Accountants.

"***GO Holders***" as applied to any GO Security, means any Person in whose name at the time a particular GO Security is registered in the Register (as defined therein).

"***GO Investment Balance***" means, as of any applicable time, the then outstanding Investment Balance of each GO Security that has not then been repaid, and all then accrued but unpaid yield under each such GO Security.

"***GO Preferred Stock***" means the series of the Company's preferred stock into which the GO Securities convert pursuant to any End Date Conversion or Deemed Liquidation Event Conversion (each as defined in the GO Securities).

"***GO R&P Agreement***" means that certain Convertible Securities Ranking and Priorities Agreement, dated as of the Initial Issue Date, by and among the GO Holders and the Holders, as

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it may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"***GO Securities***" means the convertible securities issued pursuant to that certain Convertible Securities Purchase Agreement, dated as of April 5, 2019, by and among the Company and the investors party thereto, as such convertible securities and/or purchase agreement may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.

"***Hedge Agreement***" means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement.

"***Holders***" means holders of Convertible Securities, including without limitation the Holder of this Convertible Security, and each of them shall be a "***Holder***."

"***Initial Issue Date***" means May 20, 2025.

"***Initial Return Amount***" has the meaning set forth in the preamble of this Convertible Security.

"***Investment Balance***" means, as of any applicable time, the then outstanding portion of the Initial Return Amount of this Convertible Security that has not then been repaid, and all then accrued but unpaid yield under this Convertible Security.

"***Investment Document***" means each of this Convertible Security, the other Convertible Securities, the Purchase Agreement, and any amendments or waivers of such documents.

"***IRA***" has the meaning set forth in Section 5.1.2 of this Convertible Security.

"***Issue Date***" has the meaning set forth in the preamble of this Convertible Security.

"***Kleiner Perkins***" means, together with its Affiliates, Kleiner Perkins Select Fund III, LLC, for itself and as nominee for Kleiner Perkins Select Founders Fund III, LLC and Kleiner Perkins Select Friends Fund III, LLC.

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"***Lien***" means any mortgage, lien, pledge, charge, security interest or other encumbrance upon or in any property or assets (including accounts, contract rights and conditional sale and other title retention agreements) owned by the Company or any of its Subsidiaries.

"***Lost Convertible Security Documentation***" means documentation satisfactory to the Company with regard to a lost or stolen Convertible Security, including, if required by the Company, an affidavit of lost Convertible Security and an indemnification agreement by the Holder of this Convertible Security in favor of the Company and in customary form with respect to such lost or stolen Convertible Security.

"***Majority Holders***" shall mean, as of any relevant date, Holders holding a majority of the aggregate Investment Balances of all the Convertible Securities then outstanding.

"***Mandatory Deemed Liquidation Event Conversion***" has the meaning set forth in Section 5.2.2.

"***Mandatory Qualified Public Offering Conversion***" has the meaning set forth in Section 5.1.1.

"***Market Capitalization***" means the market capitalization of the Company based on the price per share sold to the public in the Qualified Public Offering, measured as of immediately prior to the closing of the Qualified Public Offering.

"***Material Subsidiary***" means, as of any date of determination, any Subsidiary that, on a consolidated basis with its Subsidiaries, has: (a) assets in excess of 5% of the consolidated total assets as of the Company's most recent fiscal quarter ended; or (b) annual revenues in excess of 5% of the consolidated revenues of the Company and its Subsidiaries as of the Company's most recent fiscal quarter ended.

"***Permitted Indebtedness***" is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness incurred by the Company or any of its Subsidiaries pursuant to one or more Credit Facilities (including the Credit Agreement) in an aggregate principal amount (for all Credit Facilities) not to exceed $50,000,000 at any one time outstanding approved by the Board (including a majority of directors designated by holders of the Company's preferred stock); <u>provided</u>, that such Credit Facilities do not provide for any warrant coverage and are not otherwise convertible into equity upon their terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Capital Lease Obligations and purchase money indebtedness of the Company or any Subsidiary thereof incurred solely to finance the acquisition, installation, construction or improvement of any equipment, real property or other fixed assets (and any renewals, replacements, refinancings or extensions thereof) in an aggregate amount not to exceed $250,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness of the Company or any Subsidiary under Hedge Agreements entered into in order to manage existing or anticipated interest rate, exchange rate or commodity price

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risks and not for speculative purposes and Cash Management Agreements which in all cases do not exceed $10,000,000 in the aggregate; <u>provided</u>, that, in each case, such Hedge Agreements and Cash Management Agreements are consistent with a Company cash management policy that is approved by the Board (including a majority of directors designated by holders of the Company's preferred stock);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness in respect of letters of credit issued in the ordinary course of business for the account of the Company or the account of any of its Subsidiaries that are fully cash collateralized;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;(i) unsecured indebtedness to trade creditors incurred in the ordinary course of business and (ii) customer deposits and advance payments received in the ordinary course of business from customers for goods or services purchased in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;guarantees (including keep-wells and support agreements) by the Company or any Subsidiary in respect of indebtedness of the Company or any Subsidiary not otherwise prohibited under any of the Investment Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;intercompany indebtedness between the Company and any of its wholly-owned Subsidiaries or between any of the Company's wholly-owned Subsidiaries; provided, that the foregoing shall be deemed to include Subsidiaries which are required by applicable law to have a second stockholder, to the extent so required by applicable law (each a "***Foreign Sub***");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness arising from the honoring by a bank or other financial institution of a check, draft or other similar instrument drawn against insufficient funds in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness in respect of bank guarantees, surety or performance bonds and similar instruments issued for the Company's account or the account of any of the Company's wholly-owned Subsidiaries in the ordinary course of the Company's business in order to provide security for: (i) workers' compensation claims, unemployment insurance and other types of social security and employee health and disability benefits, or casualty-liability insurance, payment obligations in connection with self-insurance or similar requirements; and (ii) tenders, completion guarantees, statutory obligations, surety, environmental or appeal bonds, bids, leases, government contracts, contracts (other than for borrowed money), performance bonds or other obligations of a like nature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness arising from agreements of the Company or any of its Subsidiaries providing for the indemnification, adjustment of purchase price, earn-out, royalty, milestone or similar obligations, in each case assumed with the acquisition or disposition of any business, which acquisition or disposition is approved by the Board (including a majority of directors designated by holders of the Company's preferred stock);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness incurred by the Company or any of its Subsidiaries consisting of the financing of insurance premiums receivable by the Company in the ordinary course of business, if the Board (including a majority of directors designated by holders of the Company's preferred stock) approves of the Company incurring such indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;indebtedness secured by Liens permitted under clauses (b) of the definition of "Permitted Liens" hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (m) above; <u>provided</u>, that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon the Company or its Subsidiary, as the case may be.

"***Permitted Liens***" are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Liens existing on the Issue Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being contested in good faith and for which the Company maintains adequate reserves on its books;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing indebtedness permitted under clause (a) or (b) of the definition of "Permitted Indebtedness" hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Liens and other credit support provided in respect of indebtedness under clause (c) or (d) of the definition of "Permitted Indebtedness" hereunder; provided, that any such Liens shall attach only to cash and cash equivalents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the ordinary course of business so long as such Liens attach only to inventory and which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Liens to secure payment of workers' compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in clauses (a) or (b) of this definition of "Permitted Liens," but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;leases or subleases of real property granted in the ordinary course of the Company's business (or, if referring to another Person, in the ordinary course of such Person's business), and leases, subleases, licenses or sublicenses of personal property (including

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intellectual property) granted in the ordinary course of the Company's business (or, if referring to another Person, in the ordinary course of such Person's business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of financial institutions arising in connection with the Company's deposit and/or securities accounts held at such institutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Liens imposed by mandatory provisions of law of landlords, carriers, warehousemen, bailees, mechanics and materialmen incurred in the ordinary course of business for sums that are (i) not yet more than 30 days past due or (ii) being contested in good faith by appropriate proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Liens incurred in the ordinary course of business in connection with worker's compensation, unemployment insurance or other forms of governmental insurance or benefits, insurance, surety bonds, or other obligations of a like nature or to secure the performance of letters of credit, banker's acceptances, bids, tenders, statutory obligations, leases and contracts (other than for borrowed money) in each case entered into in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;(i) deposits or pledges made in the ordinary course of business to secure the performance of bids, trade and commercial contracts and leases and the payment of rent (other than indebtedness), statutory obligations, surety bonds (other than bonds related to judgments or litigation), performance bonds and other obligations of a like nature incurred in the ordinary course of business; and (ii) deposits or pledges in respect of letters of credit, bank guarantees, or similar instruments that have been posted in the ordinary course of business of the Company or any Subsidiary to support payment of the items set forth in subclause (i) of this clause (m);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;encumbrances (i) in the nature of zoning restrictions, easements, and rights or restrictions of record or other similar encumbrances on the use of real property, which do not materially detract from the value of such property or materially impair the use thereof in the ordinary conduct of business of the applicable Person or which are insured over by title insurance and (ii) such as any zoning, building or similar laws or rights reserved to or vested in any governmental authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising from the filing of precautionary uniform commercial code financing statements relating solely to personal property leased pursuant to operating leases entered into in the ordinary course of business of the Company and its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;any interest or title of a licensor, sublicensor, lessor or sublessor with respect to any assets under any inbound license or lease agreement entered into by the Company or any Subsidiary in the ordinary course of business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Liens in the nature of: (i) customary setoff rights in favor of any counterparty to any Hedge Agreements and (ii) setoff rights granted to third parties pursuant to trade and other similar contracts with the Company or any Subsidiary and limited to payments owed to the

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Company or any Subsidiary under such contracts that do not constitute indebtedness for borrowed money, and such contracts are not secured by any property of the Company or any Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;other Liens securing indebtedness not exceeding $100,000 in the aggregate at any one time outstanding.

"***Person***" means an individual, corporation, limited liability company, partnership, association, joint-stock company, trust, unincorporated organization, joint venture or other entity or any governmental authority.

"***Purchase Agreement***" has the meaning set forth in the preamble of this Convertible Security.

"***Qualified Public Offering***" has the meaning ascribed to "Qualified IPO" in the Restated Certificate as in effect on the Initial Issue Date. For the avoidance of doubt, a direct listing or de-SPAC of the Company's equity securities shall not be a Qualified Public Offering.

"***Reference Valuation***" means the sum of (a) the aggregate Investment Balances of all outstanding Convertible Securities, plus (b) the aggregate GO Investment Balances of all outstanding GO Securities divided by the Discount Factor (as defined in the GO Securities), plus (c) the aggregate amount of all outstanding Senior Instruments (including principal and accrued and unpaid interest or yield) thereunder and any penalties or premiums that would be associated with the full repayment and retirement of such Senior Instruments).

"***Requisite Majority Holders***" means, as of any relevant date, the Majority Holders, which majority must include Kleiner Perkins so long as Kleiner Perkins is a Holder.

"***Restated Certificate***" means the Company's Restated Certificate of Incorporation as filed on May 19, 2025.

"***Securities Act***" means the U.S. Securities Act of 1933, as amended.

"***Senior Agent***" has the meaning set forth in Section 1.

"***Senior Instruments***" means, collectively, the Credit Agreement, the Credit Facilities and any other securities (debt, equity or otherwise) or indebtedness of the Company or any of its Subsidiaries ranking senior to, or pari passu with, the Convertible Securities or the GO Securities.

"***Senior Lenders***" has the meaning set forth in Section 1.

"***Senior Subordination Agreement***" means that certain Subordination Agreement, dated as of the Initial Issue Date, by and among the Senior Agent and the Holders, as it may be amended, restated, amended and restated, supplemented or otherwise modified from time to time

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"***Series F Senior Preferred Stock***" means the Series F Senior Preferred Stock, par value $0.0001 per share, of the Company.

"***SPAC Transaction***" means a business combination (whether in the form of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, similar business combination or otherwise) of the Company or any of its Subsidiaries with or into a special purpose acquisition company or "blank-check" company (or a subsidiary thereof) (any of the foregoing, a "SPAC") after which the Company (or any of its Subsidiaries), the SPAC or any entity resulting from such business combination has securities trading on the New York Stock Exchange, The NASDAQ Stock Market LLC or any other exchange.

"***Subsidiary***" means, as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless the context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Accounting Terms; GAAP</u>. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed and interpreted in accordance with GAAP as in effect from time to time; <u>provided,</u> that if the Company notifies the Holders that it requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Issue Date in GAAP or in the application thereof on the operation of such provision, regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then the Holders and the Company shall negotiate in good faith to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Requisite Majority Holders) and until so amended, any ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein; <u>provided</u>, <u>further</u>, that all terms of an accounting or financial nature (including, without limitation, the definitions of Capital Lease Obligations) shall be construed without giving effect to any changes to the current GAAP accounting model for leases of the type described in the FASB and IASB joint exposure draft published on August 17, 2010 entitled "Leases (Topic 840)" or otherwise arising out of the FASB project on lease accounting described in such exposure draft.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;<u>PAYMENT AT END DATE</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 2.2, if this Convertible Security has not been previously fully converted, then the then-outstanding Investment Balance of this Convertible Security shall be due and payable in full:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1&nbsp;&nbsp;&nbsp;&nbsp;in the case of the occurrence of the End Date pursuant to clause (b) or clause (c) of the definition thereof, as provided in Section 4.2, subject to Section 5.2.1;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2&nbsp;&nbsp;&nbsp;&nbsp;in the case of the occurrence of the End Date pursuant to clause (a) of the definition thereof, at the time specified in a written notice delivered to the Company by the Requisite Majority Holders, which time shall be any time beginning on the End Date (such notice delivered by the Requisite Majority Holders, an "***End Date Repayment Notice***"); <u>provided</u>, that if a Default Notice shall have been duly delivered pursuant to Section 4.2 following the occurrence of the End Date pursuant to clause (a) thereof, then the outstanding Investment Balance of this Convertible Security shall be due and payable as provided in Section 2.1.1; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3&nbsp;&nbsp;&nbsp;&nbsp;by the Company as provided in the last sentence of Section 5.2.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;If at the time of any End Date, the repayment of the Convertible Securities would then constitute:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.1&nbsp;&nbsp;&nbsp;&nbsp;a breach of the Credit Agreement and/or the Senior Subordination Agreement (to the extent either agreement is in effect), such End Date may be extended at the option of the Requisite Majority Holders until the date that is thirty (30) days following the day on which written notice is provided, executed by the Company, that repayment on or after the date of such notice does not constitute such a breach; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.2&nbsp;&nbsp;&nbsp;&nbsp;a breach of any outstanding GO Securities and/or the GO R&P Agreement (to the extent either agreement is in effect), such End Date may be extended at the option of the Requisite Majority Holders until the date that is thirty (30) days following the day on which written notice is provided, executed by the Company, that repayment on or after the date of such notice does not constitute such a breach.

For the avoidance of doubt, references to the "End Date" as provided herein shall mean the "End Date" as extended pursuant to this Section 2.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;Subject to the Credit Agreement, the Senior Subordination Agreement, the GO Securities and the GO R&P Agreement (in each case, to the extent such agreement is in effect) this Convertible Security may not be repurchased or redeemed, or any yield or other portion of the Investment Balance otherwise repaid, prior to the End Date (or date of conversion in full of this Convertible Security in accordance herewith), without the prior written consent of the Requisite Majority Holders, except for conversions and payment of cash in lieu of the issuance of fractional shares pursuant to the terms hereof. For the avoidance of doubt, subject to the other terms and conditions of this Convertible Security and the Purchase Agreement, the Company may pay, repurchase and/or redeem the Convertible Securities on and after the End Date without the consent of any Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;<u>CONVERTIBLE SECURITIES PARI PASSU; APPLICATION OF</u> <u>PAYMENTS</u>**. Each of the Convertible Securities shall rank equally without preference or priority of any kind over one another, but senior and in all rights, privileges and preferences to all other shares of the Company's capital stock (other than the GO Securities and the GO Preferred Stock), and all payments and recoveries on the Convertible Securities shall be paid and applied ratably and proportionately on the Investment Balances of all outstanding Convertible Securities

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on the basis of such Investment Balances. Subject to the conversion of the Convertible Securities as set forth herein and the foregoing sentence, all payments will be applied <u>first</u> to the repayment of accrued fees and expenses payable under this Convertible Security, <u>then</u> to accrued yield until all then outstanding accrued yield has been paid in full, and <u>then</u> to the repayment of the Investment Balance until the entire Investment Balance has been paid in full. If after all applications of such payments have been made as provided in this Section 3, the remaining amount of such payments that are in either case in excess of the aggregate Investment Balance of all outstanding Convertible Securities, such excess amount shall be returned to the Company. Notwithstanding the foregoing, all payments, recoveries, or any other remedies on or under the Convertible Securities (other than conversion into Conversion Shares in accordance with the Convertible Securities) shall be subject to the Credit Agreement, the Senior Subordination Agreement, the GO Securities and the GO R&P Agreement (in each case, to the extent such agreement is in effect).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;<u>EVENTS OF DEFAULT</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;Each of the following events shall constitute an "***Event of Default***" hereunder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1&nbsp;&nbsp;&nbsp;&nbsp;the Company failing to make any payment of the Investment Balance, or any accrued and unpaid expenses, when due, which is not cured within three (3) Business Days of such failure; <u>provided</u>, that no Event of Default (other than pursuant to this Section 4.1.1) shall have occurred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2&nbsp;&nbsp;&nbsp;&nbsp;(i) default by the Company with respect to any mortgage, agreement or other instrument under which there may be outstanding indebtedness for money borrowed having a principal amount in excess of $5,000,000.00, resulting in such indebtedness becoming or being declared due and payable prior to its stated maturity date and following an event of default with respect to such indebtedness that is not duly annulled, rescinded or waived or such indebtedness is not paid or discharged, or (ii) an Event of Default (as defined in the GO Securities) with respect to any of the GO Securities having an outstanding Investment Balance (as defined in the GO Securities), individually or in the aggregate, in excess of $5,000,000.00, has occurred and is continuing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3&nbsp;&nbsp;&nbsp;&nbsp;the Company or any Material Subsidiary (i) consenting to the appointment of a receiver or similar official for any part of the Company's property or assets, (ii) making a general assignment for the benefit of creditors, (iii) consenting to becoming a debtor or alleged debtor in a case under the U.S. Bankruptcy Code or other applicable bankruptcy laws, or (iv) commencing a voluntary case or similar proceeding under any bankruptcy, insolvency or similar law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.4&nbsp;&nbsp;&nbsp;&nbsp;the commencement of an involuntary case or proceeding against the Company or any Material Subsidiary with respect to its debts under any bankruptcy, insolvency or similar law and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of thirty (30) consecutive days;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.5&nbsp;&nbsp;&nbsp;&nbsp;the appointment of a receiver for any of the Company's or any Material Subsidiary's property or assets or any Material Subsidiary of the Company otherwise becomes the subject of any bankruptcy or similar proceeding for the general adjustment of its debts or for its liquidation, unless such appointment or proceeding is dismissed within thirty (30) consecutive days of such appointment or commencement of proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.6&nbsp;&nbsp;&nbsp;&nbsp;any failure of the Company to automatically convert the Convertible Securities as provided in Section 5.2.2;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.7&nbsp;&nbsp;&nbsp;&nbsp;a material breach by the Company of any covenant set forth herein or in the Purchase Agreement, which is incapable of being cured or which is not cured within ten (10) days of such breach, or any representation or warranty contained in the Purchase Agreement which was materially incorrect, false or misleading in any material respect as of the date it was made or deemed made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.8&nbsp;&nbsp;&nbsp;&nbsp;the Board or shareholders adopting a resolution for the liquidation, dissolution or winding up of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.9&nbsp;&nbsp;&nbsp;&nbsp;any breach by the Company or the GO Holders of the GO R&P Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;The Company shall promptly (but in no event more than five (5) Business Days following the applicable breach, or the knowledge of having made a materially incorrect, false or misleading representation or warranty in the Purchase Agreement) provide notice to the Requisite Majority Holders of the breach of any covenant set forth herein or the Purchase Agreement or if any representation or warranty made or deemed made in the Purchase Agreement shall prove to have been materially incorrect, false or misleading in any material respect when so made or deemed made. The Company shall also provide prompt notice of any Event of Default and/or the occurrence of the End Date pursuant to clause (b) of such definition. Upon the occurrence of any Event of Default (other than an Event of Default specified in Section 4.1.3, Section 4.1.4 or Section 4.1.5 with respect to the Company) and/or the occurrence of the End Date pursuant to clause (b) of such definition, the Requisite Majority Holders, by notice in writing to the Company (a "***Default Notice***"), may declare all accrued but unpaid expenses, and the Investment Balances outstanding on the Convertible Securities, immediately due and payable in full, or may declare the Convertible Securities converted as specified in Section 5.2.1; <u>provided</u>, that such specified date shall be the date of the Default Notice in the event of any Event of Default under Section 4.1.6 or Section 4.1.8. If an Event of Default specified in Section 4.1.3, Section 4.1.4 or Section 4.1.5 with respect to the Company occurs and is continuing, all accrued but unpaid expenses and the Investment Balance shall become immediately due and payable in full without further notice or demand by any Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;Any monies collected by any Holder pursuant to this Section 4 with respect to the Convertible Securities shall be applied in the order specified under Section 3 herein.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;The Requisite Majority Holders shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Holders; <u>provided</u>, <u>however</u>, that such direction shall not be in conflict with any rule of law or with the Purchase Agreement or any Convertible Security. The Requisite Majority Holders may (on behalf of all Holders) waive any past default or Event of Default hereunder and its consequences except (i) any Event of Default specified in Section 4.1.3, Section 4.1.4 or Section 4.1.5 or Section 4.1.6, or (ii) any continuing defaults relating to (x) a default in the payment of any Investment Balance when due that has not been cured pursuant to the provisions of Section 4.1, or (y) any other failure by the Company to pay or deliver, as the case may be, the consideration due upon conversion of the Convertible Securities. Upon any such waiver the Company and the Holders of the Convertible Securities shall be restored to their former positions and rights hereunder; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. Whenever any default or Event of Default hereunder shall have been waived as permitted by this Section 4.4, said default or Event of Default shall for all purposes of the Convertible Securities and the Purchase Agreement be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;<u>CONVERSION</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;**<u>Conversion Upon a Qualified Public Offering</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.1&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 6.1.8, at and as of the consummation of a Qualified Public Offering, the entire Investment Balance then outstanding shall automatically be cancelled and converted (such conversion, the "***Mandatory Qualified Public Offering Conversion***") into that number of Conversion Shares obtained by dividing (a) the Investment Balance by (b) the then-applicable Conversion Price, plus cash in lieu of any fractional share. Such conversion shall be deemed to occur under this Section 5.1.1 as of immediately prior to the consummation of the Qualified Public Offering, without regard to whether the Holder of this Convertible Security has then delivered to the Company this Convertible Security (or Lost Convertible Security Documentation) or executed any other documents required to be executed by the investors purchasing the Conversion Shares (collectively, the "***Conversion Documentation***") in the Qualified Public Offering, it being understood that evidence of ownership of the Conversion Shares (including any stock certificate or a notation of book entry) shall not be delivered to the Holder of this Convertible Security unless and until the Company receives the Conversion Documentation. The Company shall give the Holder of this Convertible Security not less than twenty (20) days' advance notice of the anticipated consummation of a Mandatory Qualified Public Offering Conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Lock-up</u>. Upon the Mandatory Qualified Public Offering Conversion, the Conversion Shares shall be subject to the provisions of Section 3.11 of the Amended and Restated Investors' Rights Agreement dated as of the Issue Date (as in effect on such date) (the "***IRA***").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;**<u>Conversion Other Than Upon A Qualified Public Offering</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>End Date Conversion</u>. On and as of the End Date, the Investment Balance of all of the Convertible Securities shall be converted into Conversion Shares if the Requisite Majority Holders have elected, as specified in a Default Notice (in the event of an End Date occurring pursuant to clause (b) or (c) of the definition thereof) or, in the event of an End Date occurring pursuant to clause (a) of the definition thereof, via written notice delivered to the Company prior to 11:59 p.m. Pacific time on the forty-fifth (45<sup>th</sup>) day prior to the End Date, to convert the Convertible Securities, plus cash in lieu of any fractional share (such a written notice, the "***End Date Conversion Notice***"). If the Requisite Majority Holders have provided an End Date Conversion Notice, or a Default Notice specifying that the Convertible Securities shall be converted pursuant to this Section 5.2.1, then all of the respective Investment Balances of all of the Convertible Securities shall convert into that number of Conversion Shares obtained by dividing, in the case of each Convertible Security, (a) the Investment Balance of such Convertible Security by (b) the then-applicable Conversion Price (such conversion, the "***End Date Conversion***"). Any End Date Conversion shall be deemed to have occurred as of the close of business on the End Date, without regard to the date on which an End Date Conversion Notice or Default Notice, as applicable, has been delivered by the Requisite Majority Holders or, as to this Convertible Security, whether the Holder of this Convertible Security has then delivered to the Company this Convertible Security (or Lost Convertible Security Documentation), it being understood that evidence of ownership of the Conversion Shares (including any stock certificate or a notation of book entry) shall not be delivered the Holder of this Convertible Security unless and until the Company receives the Conversion Documentation. In the event of any conversion of the Convertible Security pursuant to this Section 5.2.1, the Holder of this Convertible Security shall be bound by all transfer restrictions, drag-along obligations, proxies and other voting restrictions with respect to the shares issued upon the conversion of the Convertible Security that are applicable to all of the Company's shares of preferred stock then outstanding. The Holder of this Convertible Security agrees to execute such documents as are reasonably requested by the Company to give effect to the foregoing. In the event of the occurrence of an End Date pursuant to clause (a) of the definition thereof, if the Company does not receive an End Date Conversion Notice prior to the End Date, the Company may elect to repay the then-outstanding Investment Balance of this Convertible Security on such End Date, without a further written notice from the Requisite Majority Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Mandatory Deemed Liquidation Event Conversion</u>**.** If the Company consummates a Deemed Liquidation Event, the respective Investment Balances of all of the Convertible Securities shall be automatically converted, without notice from any Holder, into that number of Conversion Shares obtained by dividing, in the case of each Convertible Security, (a) the Investment Balance of such Convertible Security by (b) the then-applicable Conversion Price, contingent upon the completion of such Deemed Liquidation Event, plus cash in lieu of any fractional share (such conversion, the "***Mandatory Deemed Liquidation Event Conversion***"). Such Mandatory Deemed Liquidation Event Conversion shall be deemed to occur under this Section 5.2.2 as of immediately prior to the consummation of such Deemed Liquidation Event, without regard to whether the Holder of this Convertible Security has then delivered to the Company this Convertible Security (or Lost Convertible Security

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Documentation) or executed any other documents required to be executed by stockholders in connection with such Deemed Liquidation Event, it being understood that evidence of ownership of the Conversion Shares (including any stock certificate or a notation of book entry) shall not be delivered to the Holder of this Convertible Security unless and until the Company receives the Conversion Documentation. The Company shall provide each Holder not less than twenty (20) days' prior written notice of any Deemed Liquidation Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;**<u>Certificates; No Fractional Shares</u>**. As soon as practicable after conversion of this Convertible Security pursuant to Section 5.1 or Section 5.2, as applicable, the Company at its expense will cause to be issued in the name of the Holder of this Convertible Security and to be delivered to such Holder, a certificate or certificates (which may be in electronic form; e.g., via the Carta platform) for the number of Conversion Shares to which Holder shall be entitled upon such conversion (bearing such legends as may be required by applicable state and federal securities laws in the opinion of legal counsel of the Company), together with any other securities and property to which the Holder of this Convertible Security is entitled upon such conversion under the terms of this Convertible Security. No fractional shares shall be issued upon conversion of this Convertible Security. If upon any conversion of this Convertible Security (and after aggregating the amounts of all other Convertible Securities held by the same Holder which are converted at the same time as this Convertible Security), a fraction of a share would otherwise be issued, then in lieu of such fractional share, the Company shall pay to the Holder of this Convertible Security an amount in cash equal to such fraction of a share multiplied by the applicable Conversion Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;**<u>Authorized Capital</u>**. The Company covenants that it shall take and cause to be taken all necessary corporate and other actions which are necessary or advisable to effectuate the conversion of this Convertible Security as set forth in this instrument, including by causing to be duly authorized all necessary shares of existing or new series of equity securities as the Company shall otherwise become obligated to issue by the terms of this Section 5. Without limiting any of its other rights or remedies available at law or in equity, the Company agrees to indemnify and hold harmless the Holder of this Convertible Security for any and all out-of-pocket costs and expenses (including reasonable attorneys' fees and costs), and other direct losses, incurred by such Holder and directly caused by any failure of the Company to take the actions specified in this Section 5.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;**<u>HSR Election Notice</u>**. Notwithstanding anything to the contrary in this Section 5, prior to the acquisition of Conversion Shares to be issued pursuant to Section 5.1.1 or 5.2.1, the Holder may by written notice to the Company elect to receive Company capital stock that otherwise has the same dividends, liquidation, conversion, voting, and protective provisions as the Conversion Shares, but that does not confer the Holder the right to vote for the board of directors, and that otherwise qualifies as non-voting securities pursuant to the rules and regulations of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The Holder must deliver written notice (the "***Election Notice***") of its election to receive non-voting securities within ten (10) days of the Holder's receipt of a Mandatory Qualified Public Offering Conversion or within ten (10) days of the issuance by the Requisite Majority Holders of a Default Notice or End Date Conversion Notice.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;<u>COVENANTS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;**<u>Negative Covenants</u>**. The Company shall not (and shall cause each of its Subsidiaries not to) without the prior written consent of the Requisite Majority Holders (in addition to any other written consent or vote required to be obtained pursuant to the Restated Certificate as in effect from time to time):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.1&nbsp;&nbsp;&nbsp;&nbsp;declare or pay any dividends or other distributions on any equity securities, including any dividends or distributions of non-cash assets or equity, other than (i) the accrual and payment of yield on the Convertible Securities and the GO Securities, in each case pursuant to the terms thereof, (ii) the conversion of any of the Company's convertible equity securities (including the Convertible Securities and the GO Securities) into other securities pursuant to the terms of such convertible equity securities or otherwise in exchange thereof, (iii) a dividend on shares of Common Stock payable solely in shares of Common Stock, (iv) cash payments, in lieu of issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible into or exchangeable for the equity securities of the Company, and (v) dividends by any Subsidiary to the Company or any wholly-owned Subsidiary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.2&nbsp;&nbsp;&nbsp;&nbsp;redeem or repurchase its equity securities, except for (i) repurchases of its equity securities at cost (or, if permitted by any agreement between the Company and the holder of the securities to be redeemed or repurchased, the lower of cost or fair market value) upon termination of service, (ii) repurchases made (A) pursuant to the exercise by the Company of rights of first refusal, or (B) otherwise, pursuant to one or more repurchase offers made to holders of Common Stock; <u>provided</u> that the Company may not purchase greater than $5,000,000.00 of its equity securities in any fiscal year of the Company pursuant to this clause (ii), (iii) repurchases of the Convertible Securities pursuant to the terms thereof, (iv) cash payments, in lieu of issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible into or exchangeable for the equity securities of the Company, and (v) redemptions and repurchases of equity securities of any wholly-owned Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.3&nbsp;&nbsp;&nbsp;&nbsp;create, incur, authorize the creation of, issue, or authorize the issuance of, any indebtedness for borrowed money (excluding Permitted Indebtedness), which is (i) in excess of $100,000,000 (including accrued interest, penalties, fees and other payments to be made in respect thereof) or (ii) convertible into equity securities (other than warrant coverage not in excess of 2% of the principal amount of the principal amount of indebtedness otherwise permitted pursuant to clause (i) above that is approved by the Board, including a majority of directors designated by holders of the Company's preferred stock);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.4&nbsp;&nbsp;&nbsp;&nbsp;create, incur or grant any Lien, pledge or other security interest in the assets of the Company or its Subsidiaries (including any pledge of the equity of any Subsidiaries), other than Permitted Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.5&nbsp;&nbsp;&nbsp;&nbsp;engage in any transaction with (i) Shoaib Makani or Obaid Khan (the "***Founders***") or any immediate family member or Affiliate (other the Company's

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Subsidiaries) of any of the Founders (other than (x) indemnification agreements for any Founder that are approved by the Board, including a majority of directors designated by holders of the Company's preferred stock, (y) reasonable expense reimbursements for a Founder approved in accordance with Company policies, (z) cash compensation and benefits for each Founder that are approved by the Board, including a majority of directors designated by holders of the Company's preferred stock, (ii) any other officer or director, or any of their respective Affiliates (other than the Company's Subsidiaries) or immediate family members, except for (x) reasonable expense reimbursements approved in accordance with Company policies, (y) the exercise of a contractual right pursuant to any agreement approved by the Board, including a majority of disinterested directors, and (z) other transactions approved by the Board, including a majority of disinterested members, or (iii) any other holder of greater than 1% of the Company's capital stock, calculated on an as-converted basis, or any of their respective Affiliates (other than the Company's Subsidiaries) or immediate family members, other than (a) the exercise of a contractual right pursuant to any agreement approved by the Board, or (b) other transactions approved by the Board, including a majority of disinterested directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.6&nbsp;&nbsp;&nbsp;&nbsp;effect any material amendment to, or waiver of, the powers, preferences or special rights of the Company's preferred stock (in each case whether by merger, recapitalization, amendment or otherwise), which, in each case, would adversely impact any of the powers, preferences or special rights of the Applicable Securities in a disproportionate manner to the Company's other series of preferred stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.7&nbsp;&nbsp;&nbsp;&nbsp;create or acquire any Subsidiaries, or take any other minority equity interest in any other entity, other than Subsidiaries that are wholly-owned, directly or indirectly, by the Company; <u>provided</u> that the foregoing shall not be deemed to prohibit the Company from creating or acquiring Foreign Subs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.8&nbsp;&nbsp;&nbsp;&nbsp;consummate a Qualified Public Offering where (i) the Conversion Price of this Convertible Security is calculated pursuant to clause (c) of the definition of "Conversion Price" and (ii) the Market Capitalization of the Company is less than or equal to the Reference Valuation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.9&nbsp;&nbsp;&nbsp;&nbsp;consummate the sale of shares of Common Stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act that is not a Qualified Public Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.10&nbsp;&nbsp;&nbsp;&nbsp;effect (or consent to effecting) or consummate a Direct Listing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.11&nbsp;&nbsp;&nbsp;&nbsp;effect (or consent to effecting), close, enter into or consummate a SPAC Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;**<u>Market Stand-Off "MFN"</u>**. Each Holder agrees to be subject to the obligations set forth in Section 3.11 of the IRA, which obligations shall apply *mutatis mutandis* to such Holder; <u>provided</u>, that if and to the extent that the Company agrees with any other stockholder of the Company who is a Major Investor as of the Issue Date that such obligations may be waived in whole or in part (and such waiver is effectuated), or if Standoff Period (as

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defined in the IRA) is shortened, then such waiver or shortened Standoff Period shall also apply proportionately to each such Holder automatically and without further action on the part of such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;<u>GENERAL PROVISIONS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;**<u>Waivers</u>**. The Company and all endorsers of this Convertible Security hereby waive notice, presentment, protest and notice of dishonor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;**<u>Attorneys' Fees</u>**. In the event any party is required to engage the services of an attorney for the purpose of enforcing this Convertible Security, or any provision thereof, the prevailing party shall be entitled to recover its reasonable expenses and costs actually incurred in enforcing this Convertible Security, including attorneys' fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;**<u>Transfer</u>**. The Holder of this Convertible Security shall be permitted to assign, convey or transfer, in whole or in part its rights and obligations evidenced by this Convertible Security, and any rights or obligations applicable to the Holder of this Convertible Security that are set forth in the Purchase Agreement, freely and without restrictions other than those set forth in Section 4 of the Purchase Agreement and the obligations set forth in Section 3.12 of the IRA, which restrictions shall apply *mutatis mutandis* to this Convertible Security. The rights and obligations of the Company and Holder under this Convertible Security and the other Investment Documents shall be binding upon and benefit their respective permitted successors, transferees and assigns. The Company shall not amend, terminate, waive or otherwise modify any provision of this Section 7.3 without the prior written consent of all Holders. The Company shall maintain a register for the recordation of the names and addresses of the Holder and its assignees, and the amounts of Investment Balance owing to any of them hereunder from time to time (the "***Register***"). The entries in the Register shall be conclusive absent manifest error, and the Company, Holder and its assignees shall treat each person whose name is recorded in the Register pursuant to the terms hereof as a Holder hereunder for all purposes of this Convertible Security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;**<u>Governing Law</u>**. This Convertible Security shall be governed by and construed under the Delaware General Corporation Law to the extent of matters within the scope thereof, and otherwise by the internal laws of the State of New York as applied to agreements among New York residents entered into and to be performed entirely within the State of New York, without reference to principles of conflict of laws or choice of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5&nbsp;&nbsp;&nbsp;&nbsp;**<u>Headings</u>**. The headings and captions used in this Convertible Security are used only for convenience and are not to be considered in construing or interpreting this Convertible Security. All references in this Convertible Security to sections and exhibits shall, unless otherwise provided, refer to sections hereof and exhibits attached hereto, all of which exhibits are incorporated herein by this reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6&nbsp;&nbsp;&nbsp;&nbsp;**<u>Notices</u>**. Unless otherwise provided herein, any notice required or permitted under this Convertible Security shall be given in writing and shall be deemed effectively given (i) when delivered if delivered personally, or, (ii) if sent by overnight express

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mail, at the earlier of its receipt or three (3) Business Days after deposit with a nationally recognized overnight courier, specifying next day delivery and written verification of receipt or (iii) sent by confirmed facsimile if sent during normal business hours of the recipient; if not, then on the next Business Day, at the address indicated for such party in the Purchase Agreement, or at such other address as any party hereto may designate for itself to receive notices by giving ten (10) days' advance written notice to all other parties in accordance with the provisions of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7&nbsp;&nbsp;&nbsp;&nbsp;**<u>Amendments and Waivers</u>**. This Convertible Security and all other Convertible Securities issued under the Purchase Agreement may be amended and provisions may be waived by the Convertible Security holders and the Company as provided in the Purchase Agreement. However, no amendment may be made which disproportionately and adversely impacts any Holder without consent of such Holder. Without limitation of the foregoing, no Holder's investment amount may be increased or decreased without the consent of such Holder. Any amendment or waiver effectuated in accordance with the Purchase Agreement shall be binding upon each holder of any Convertible Securities at the time outstanding, each future holder of the Convertible Securities and the Company. Notwithstanding the foregoing and anything else to the contrary herein, no amendment or waiver hereunder may be effected without the consent of the Majority Holders (as defined in the GO Securities) of the GO Securities, for so long as the GO Securities remain outstanding and have not converted or been repaid pursuant to their terms, if such amendment or waiver (a) is or would be materially adverse to the GO Securities or the interests of the holders of the GO Securities in their capacity as holders of the GO Securities, including materially adverse in any respect to any of the rights, powers, preferences or privileges of the GO Securities or the GO Preferred Stock or any holder of any of the foregoing in their capacities as a holder of any of the foregoing or (b) avoids or attempts to avoid the observance or performance of any of the terms to be observed or performed pursuant to the GO Securities or the GO R&P Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8&nbsp;&nbsp;&nbsp;&nbsp;**<u>Severability</u>**. If one or more provisions of this Convertible Security are held to be unenforceable under applicable law, then such provision(s) shall be excluded from this Convertible Security to the extent they are held to be unenforceable and the remainder of the Convertible Security shall be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9&nbsp;&nbsp;&nbsp;&nbsp;**<u>Tax Forms</u>**. Holder or its registered assigns agrees to deliver to the Company one duly executed and completed United States Internal Revenue Service Form W-8BEN or other appropriate series of Form W-8 (and all required attachments) or W-9 (or successor thereto) as appropriate. Such forms or documents shall be delivered upon (i) issuance of the Convertible Securities, (ii) reasonable request of the Company, or (iii) at any time that a previously delivered form becomes obsolete or incorrect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10&nbsp;&nbsp;&nbsp;&nbsp;**<u>Specific Performance</u>**. The parties agree that in the event of any breach or threatened breach by the other party of any covenant, obligation or other agreement set forth herein, each party shall be entitled, without any proof of actual damages (and in addition to any other remedy that may be available to it), (i) to a decree or order of specific performance or

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mandamus to enforce the observance and performance of such covenant, obligation or other agreement and an injunction preventing or restraining such breach or threatened breach and (ii) no party hereto shall be required to provide or post any bond or other security or collateral in connection with any such decree, order or injunction or in connection with any related action or legal proceeding. Any and all remedies expressly conferred herein upon a party hereto shall be deemed to be cumulative with, and not exclusive of, any other remedy conferred hereby, or by law or in equity, and the exercise by a party hereto of any one remedy will not preclude the exercise of any other remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11&nbsp;&nbsp;&nbsp;&nbsp;**<u>Tax Treatment</u>**. The Company and the Holders shall treat the Convertible Securities as equity for U.S. federal income tax purposes except to the extent otherwise required by a "determination" within the meaning of Section 1313(a)(1) of the Code or any comparable provision of state or local law.

[*Signature page follows*]

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IN **WITNESS WHEREOF,** the Company has caused this Convertible Security to be signed in its name as of the date first written above.

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| |
|:---|
| **THE COMPANY** |
| MOTIVE TECHNOLOGIES, INC. |
| By: |
| &nbsp;&nbsp;&nbsp;&nbsp;Shoaib Makani, Chief Executive Officer |

---

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**IN WITNESS WHEREOF,** the Company has caused this Convertible Security to be signed in its name as of the date first written above.

---

| |
|:---|
| **HOLDER AGREED AND ACKNOWLEDGED:** |
| By: |
| Name: |
| Title: |

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## Exhibit 4.5

**Exhibit 4.5**

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**<u>ACT</u>**"), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 5.3 AND 5.4 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

**WARRANT TO PURCHASE COMMON STOCK**

**Company: KEEP TRUCKIN, INC., a Delaware corporation** 

**Number of Shares of Common Stock: (i) 37,125 shares, *<u>plus</u>* (ii) an additional number of shares equal to (a) 37,125 shares, multiplied by (b) the aggregate original principal amount of** all **Equipment Advances (as defined in the Loan Agreement) made under the Loan Agreement, divided by (c) $3,000,000** 

**Warrant Price: $0.18 per share** 

**Issue Date:&nbsp;&nbsp;&nbsp;&nbsp;**<u>2/5/2016</u>

**Expiration Date: The 10**<sup>th</sup> **anniversary after the Issue Date; See also Section 5.1(b).**

**Credit Facility:&nbsp;&nbsp;&nbsp;&nbsp;**This Warrant to Purchase Common Stock ("**<u>Warrant</u>**") is issued in connection with that certain Loan and Security Agreement of even date herewith between Silicon Valley Bank and the Company (the "**<u>Loan Agreement</u>**").

THIS WARRANT PROVIDES THAT, for good and valuable consideration, SILICON VALLEY BANK (together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, "**<u>Holder</u>**") is entitled to purchase the number of fully paid and non-assessable shares (the "**<u>Shares</u>**") of the above-stated common stock (the "**<u>Common Stock</u>**") of the above-named company (the "**<u>Company</u>**") at the above-stated Warrant Price, all as set forth above and as adjusted pursuant to Section 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. Reference is made to Section 5.4 of this Warrant whereby Silicon Valley Bank shall transfer this Warrant to its parent company, SVB Financial Group.

SECTION 1. <u>EXERCISE</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Method of Exercise</u>. Holder may at any time and from time to time exercise this Warrant, in whole or in part, by delivering to the Company this Warrant together with a duly executed Notice of Exercise in substantially the form attached hereto as Appendix 1 and, unless Holder is exercising this Warrant pursuant to a cashless exercise set forth in Section 1.2, a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. In no event shall an original ink-signed paper copy of this Warrant be required for any exercise of a Holder's rights hereunder, nor shall this Warrant or any physical copy thereof be required to be physically surrendered at the time of any exercise hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Cashless Exercise</u>. On any exercise of this Warrant, in lieu of payment of the aggregate Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Shares equal to

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the value of this Warrant, or portion hereof as to which this Warrant is being exercised. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable Shares as are computed using the following formula:

X =&nbsp;&nbsp;&nbsp;&nbsp;Y(A-B)/A

where:

X =&nbsp;&nbsp;&nbsp;&nbsp;the number of Shares to be issued to the Holder;

Y =&nbsp;&nbsp;&nbsp;&nbsp;the number of Shares with respect to which this Warrant is being exercised (inclusive of the Shares surrendered to the Company in payment of the aggregate Warrant Price);

A =&nbsp;&nbsp;&nbsp;&nbsp;the Fair Market Value (as determined pursuant to Section 1.3 below) of one Share; and

B =&nbsp;&nbsp;&nbsp;&nbsp;the Warrant Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Fair Market Value</u>. If the Company's Common Stock is then traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or overthe-counter market (a "**<u>Trading Market</u>**"), the fair market value of a Share shall be the closing price or last sale price of a share of Common Stock reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If the Company's Common Stock is not traded in a Trading Market, the Board of Directors of the Company shall determine the fair market value of a Share in its reasonable good faith judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery of Certificate and New Warrant</u>. Within a reasonable time after Holder exercises this Warrant in the manner set forth in Section 1.1 or 1.2 above, the Company shall deliver to Holder a certificate representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised and has not expired, a new warrant of like tenor representing the Shares not so acquired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Replacement of Warrant</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Paper Original Warrant</u>. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount to the Company or, in the case of mutilation, on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Original Warrant</u>. If at any time this Warrant is rejected by any person (including but not limited to, paying or escrow agents) or any such person fails to comply with the terms of this Warrant based on this Warrant being presented to such person as an electronic record, a printout thereof, or any signature hereto being in electronic form, the

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Company, shall, promptly upon Holder's request without indemnity, execute and deliver to Holder, in lieu of electronic original versions of this warrant, a new warrant of like tenor and amount in paper form with original ink signatures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Treatment of Warrant Upon Acquisition of Company</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Acquisition</u>. For the purpose of this Warrant, "**<u>Acquisition</u>**" means any transaction or series of related transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company (ii) any merger or consolidation of the Company into or with another person or entity (other than a merger or consolidation effected exclusively to change the Company's domicile), or any other corporate reorganization, in which the stockholders of the Company in their capacity as such immediately prior to such merger, consolidation or reorganization, own less than a majority of the Company's (or the surviving or successor entity's) outstanding voting power immediately after such merger, consolidation or reorganization; or (iii) any sale or other transfer by the stockholders of the Company of shares representing at least a majority of the Company's thentotal outstanding combined voting power.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Treatment of Warrant at Acquisition</u>. In the event of an Acquisition in which the consideration to be received by the Company's stockholders consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable Securities (a "**<u>Cash/Public Acquisition</u>**"), and the fair market value of one Share as determined in accordance with Section 1.3 above would be greater than the Warrant Price in effect on such date immediately prior to such Cash/Public Acquisition, and Holder has not exercised this Warrant pursuant to Section 1.1 above as to all Shares, then this Warrant shall automatically be deemed to be Cashless Exercised pursuant to Section 1.2 above as to all Shares effective immediately prior to and contingent upon the consummation of a Cash/Public Acquisition. In connection with such Cashless Exercise, Holder shall be deemed to have restated each of the representations and warranties in Section 4 of the Warrant as the date thereof and the Company shall promptly notify the Holder of the number of Shares (or such other securities) issued upon exercise. In the event of a Cash/Public Acquisition where the fair market value of one Share as determined in accordance with Section 1.3 above would be less than the Warrant Price in effect immediately prior to such Cash/Public Acquisition, then this Warrant will expire immediately prior to the consummation of such Cash/Public Acquisition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Upon the closing of any Acquisition other than a Cash/Public Acquisition defined above, the acquiring, surviving or successor entity shall assume the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property as would have been paid for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on and as of the closing of such Acquisition, subject to further adjustment from time to time in accordance with the provisions of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;As used in this Warrant, "**<u>Marketable Securities</u>**" means securities meeting all of the following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended

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(the "**<u>Exchange Act</u>**"), and is then current in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition were Holder to exercise this Warrant on or prior to the closing thereof is then traded in Trading Market, and (iii) following the closing of such Acquisition, Holder would not be restricted from publicly re-selling all of the issuer's shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise or convert this Warrant in full on or prior to the closing of such Acquisition, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition.

SECTION 2. <u>ADJUSTMENTS TO THE SHARES AND WARRANT PRICE</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Dividends, Splits, Etc</u>. If the Company declares or pays a dividend or distribution on the outstanding shares of the Common Stock payable in securities or property (other than cash), then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and kind of securities and property which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution occurred. If the Company subdivides the outstanding shares of the Common Stock by reclassification or otherwise into a greater number of shares, the number of Shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares of the Common Stock are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Reclassification, Exchange, Combinations or Substitution</u>. Upon any event whereby all of the outstanding shares of the Common Stock are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such event, this Warrant will be exercisable for the number, class and series of Company securities that Holder would have received had the Shares been outstanding on and as of the consummation of such event, and subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations substitutions, replacements or other similar events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Intentionally Omitted</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Intentionally Omitted</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;No <u>Fractional</u> Share. No fractional Share shall be issuable upon exercise of this Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional Share interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional Share interest by paying Holder in cash the amount computed by multiplying the fractional interest by (i) the fair market value (as determined in accordance with Section 1.3 above) of a full Share, less (ii) the then-effective Warrant Price.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice/Certificate as to Adjustments</u>. Upon each adjustment of the Warrant Price, Common Stock and/or number of Shares, the Company, at the Company's expense, shall notify Holder in writing within a reasonable time setting forth the adjustments to the Warrant Price, class and/or number of Shares and facts upon which such adjustment is based. The Company shall, upon written request from Holder, furnish Holder with a certificate of its Chief Financial Officer, including computations of such adjustment and the Warrant Price, class and number of Shares in effect upon the date of such adjustment.

SECTION 3. <u>REPRESENTATIONS AND COVENANTS OF THE COMPANY</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>. The Company represents and warrants to, and agrees with, the Holder as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The initial Warrant Price referenced on the first page of this Warrant is not greater than the price per share at which shares of Company Common Stock were valued in the most recent 409a valuation received by the Company prior to the Issue Date hereof. The initial Number of Shares referenced on the first page of this Warrant, 37,125 shares, is at least 0.075% of the Company's outstanding capital stock on a Fully Diluted Basis measured on the Issue Date of this Warrant. "<u>Fully Diluted Basis</u>" means the Company's outstanding capital stock, including (i) all common stock, (ii) all preferred stock on an as-converted to common stock basis, and (iii) all shares reserved for grant or issuance under the Company's employee equity incentive option pool, and assuming full conversion of all convertible securities (including all convertible notes) and exercise of all convertible securities and exercise of all convertible rights, options and warrants, reserved or outstanding, directly or indirectly, into common stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All Shares which may be issued upon the exercise of this Warrant, shall, upon issuance, be duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. The Company covenants that it shall at all times cause to be reserved and kept available out of its authorized and unissued capital stock such number of securities as will be sufficient to permit the exercise in full of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Company's capitalization table attached hereto as Schedule 1 is true and complete, in all material respects, as of the Issue Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Certain Events</u>. If the Company proposes at any time to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;declare any dividend or distribution upon the outstanding shares of the Company's stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;offer for subscription or sale pro rata to all holders of the outstanding shares any additional shares of any class or series of the Company's stock (other than pursuant to contractual pre-emptive rights);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;effect any reclassification, exchange, combination, substitution, reorganization or recapitalization of the outstanding shares of the Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;effect an Acquisition or to liquidate, dissolve or wind up; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;effect its initial, underwritten offering and sale of its securities to the public pursuant to an effective registration statement under the Act (the "**<u>IPO</u>**");

then, in connection with each such event, the Company shall give Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;in the case of the matters referred to in (a) and (b) above, at least seven (7) Business Days prior written notice of the earlier to occur of the effective date thereof or the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of outstanding shares of the Common Stock will be entitled thereto) or for determining rights to vote, if any,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;in the case of the matters referred to in (c) and (d) above at least seven (7) Business Days prior written notice of the date when the same will take place (and specifying the date on which the holders of outstanding shares of the Class will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event and such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection with such event giving rise to the notice); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;with respect to the IPO, at least seven (7) Business Days prior written notice of the date on which the Company proposes to file its registration statement in connection therewith.

Company will also provide information requested by Holder that is reasonably necessary to enable Holder to comply with Holder's accounting or reporting requirements.

SECTION 4. <u>REPRESENTATIONS, WARRANTIES OF THE HOLDER</u>.

The Holder represents and warrants to the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase for Own Account</u>. This Warrant and the Shares to be acquired upon exercise of this Warrant by Holder are being acquired for investment for Holder's account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring this Warrant or the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure of Information</u>. Holder is aware of the Company's business affairs and financial condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and

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conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Experience</u>. Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder's investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Accredited Investor Status</u>. Holder is an "accredited investor" within the meaning of Regulation D promulgated under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>The Act</u>. Holder understands that this Warrant and the Shares issuable upon exercise hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder's investment intent as expressed herein. Holder understands that this Warrant and the Shares issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Market Stand-off Agreement</u>. The Holder agrees that the Shares shall be subject to the Market Standoff provisions in Section 3.11 of the Investor Rights Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7&nbsp;&nbsp;&nbsp;&nbsp;<u>No Voting Rights</u>. Holder, as a Holder of this Warrant, will not have any voting rights until the exercise of this Warrant.

SECTION 5. <u>MISCELLANEOUS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Term and Automatic Conversion Upon Expiration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Term</u>. Subject to the provisions of Section 1.6 above, this Warrant is exercisable in whole or in part at any time and from time to time on or before 6:00 PM, Pacific time, on the Expiration Date and shall be void thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Automatic Cashless Exercise upon Expiration</u>. In the event that, upon the Expiration Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it

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shall not previously have been exercised, and the Company shall, within a reasonable time, deliver a certificate representing the Shares (or such other securities) issued upon such exercise to Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>. The Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form:

THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**<u>ACT</u>**"), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE COMMON STOCK ISSUED BY THE ISSUER TO SILICON VALLEY BANK DATED ______________, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE,&nbsp;&nbsp;&nbsp;&nbsp; PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Securities Laws on Transfer</u>. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to SVB Financial Group (Silicon Valley Bank's parent company) or any other affiliate of Holder, provided that any such transferee is an "accredited investor" as defined in Regulation D promulgated under the Act. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Transfer Procedure</u>. After receipt by Silicon Valley Bank of the executed Warrant, Silicon Valley Bank will transfer all of this Warrant to its parent company, SVB Financial Group. By its acceptance of this Warrant, SVB Financial Group hereby makes to the Company each of the representations and warranties set forth in Section 4 hereof and agrees to be bound by all of the terms and conditions of this Warrant as if the original Holder hereof. Subject to the provisions of Section 5.3 and upon providing the Company with written notice, SVB Financial Group and any subsequent Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the securities issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in connection with any such transfer, SVB Financial Group or any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable); and provided further, that any

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subsequent transferee other than SVB Financial Group shall agree in writing with the Company to be bound by all of the terms and conditions of this Warrant. Notwithstanding any contrary provision herein, at all times prior to the IPO, Holder may not, without the Company's prior written consent, transfer this Warrant or any portion hereof, or any Shares issued upon any exercise hereof, or any shares or other securities issued upon any conversion of any Shares issued upon any exercise hereof, to any person or entity who directly competes with the Company, except in connection with an Acquisition of the Company by such a direct competitor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices and other communications hereunder from the Company to the Holder, or vice versa, shall be deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified mail, postage prepaid, (iii) upon actual receipt if given by electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier service, courier fee prepaid, in any case at such address as may have been furnished to the Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the provisions of this Section 5.5. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise:

SVB Financial Group

Attn: Treasury Department

3003 Tasman Drive, HC 215

Santa Clara, CA 95054

Telephone:

Email address:

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address:

Keep Truckin, Inc.

Attn:__________________________

350 Sansome Street, #500

San Francisco, CA 94104

Telephone:_____________________

Email: _________________________

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

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP

Attn: Jon Novotny

1 Bush St. #1200

San Francisco, CA 94104

Telephone:

Email:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver</u>. This Warrant and any term hereof may be changed, waived, discharged or terminated (either generally or in a particular instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Attorney's Fees</u>. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys' fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts; Electronic Signatures; Status as Certificated Security</u>. This Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement. Company, Holder and any other party hereto may execute this Warrant by electronic means and each party hereto recognizes and accepts the use of electronic signatures and records by any other party hereto in connection with the execution and storage hereof. To the extent that this Warrant or any agreement subject to the terms hereof or any amendment hereto is executed, recorded or delivered electronically, it shall be binding to the same extent as though it had been executed on paper with an original ink signature. The fact that this Warrant is executed, signed, stored or delivered electronically shall not prevent the transfer by any Holder of this Warrant pursuant to Section 5.4 or the enforcement of the terms hereof. This Warrant, and any copies hereof, shall NOT be deemed to be a "certificated security" within the meaning of section 8102(a)(4) of the California Commercial Code. Physical possession of the original of this Warrant or any paper copy thereof shall confer no special status to the bearer thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Warrant shall be governed by and construed in accordance with the laws of the State of California, without giving effect to its principles regarding conflicts of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Headings</u>. The headings in this Warrant are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Business Days</u>. "**<u>Business Day</u>**" is any day that is not a Saturday, Sunday or a day on which Silicon Valley Bank is closed.

[Remainder of page left blank intentionally]

[Signature page follows]

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IN WITNESS WHEREOF, the parties have caused this Warrant to Purchase Common Stock to be executed by their duly authorized representatives effective as of the Issue Date written above.

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| | | |
|:---|:---|:---|
| "COMPANY" | "COMPANY" | "COMPANY" |
| <u>KEEP TRUCKIN, INC.</u> | <u>KEEP TRUCKIN, INC.</u> | <u>KEEP TRUCKIN, INC.</u> |
| By: | /s/ Shoaib Makani | /s/ Shoaib Makani |
| Name: | Name: | Shoaib Makani |
|  | (Print) | (Print) |
| Title: CEO | Title: CEO | Title: CEO |

---

---

| | | |
|:---|:---|:---|
| "HOLDER" | "HOLDER" | "HOLDER" |
| SILICON VALLEY BANK | SILICON VALLEY BANK | SILICON VALLEY BANK |
| By: | /s/ Alex Choy | /s/ Alex Choy |
| Name: | Name: | Alex Choy |
|  | (Print) | (Print) |
| Title: Vice President I | Title: Vice President I | Title: Vice President I |

---

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APPENDIX 1

<u>NOTICE OF EXERCISE</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Holder hereby exercises its right purchase _____ shares of the Common Stock of Keep Truckin, Inc. (the "**<u>Company</u>**") in accordance with the attached Warrant To Purchase Common Stock, and tenders payment of the aggregate Warrant Price for such shares as follows:

[&nbsp;&nbsp;&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;check in the amount of $__________ payable to order of the Company enclosed herewith

[&nbsp;&nbsp;&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;Wire transfer of immediately available funds to the Company's account

[&nbsp;&nbsp;&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;Cashless Exercise pursuant to Section 1.2 of the Warrant

[&nbsp;&nbsp;&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;Other [Describe] ____________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;Please issue a certificate or certificates representing the Shares in the name specified below:

______________________________

Holder's Name

______________________________

______________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;By its execution below and for the benefit of the Company, Holder hereby restates each of the representations and warranties in Section 4 of the Warrant to Purchase Common Stock as of the date hereof.

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| |
|:---|
| HOLDER: |
| By: |
| Name: |
| Title: |
| (Date): |

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Appendix 1

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SCHEDULE 1

<u>Company Capitalization Table</u>

## Exhibit 4.6

**Exhibit 4.6**

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**<u>ACT</u>**"), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 5.3 AND 5.4 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

**WARRANT TO PURCHASE COMMON STOCK**

**Company: KEEP TRUCKIN, INC., a Delaware corporation** 

**Number of Shares of Common Stock: (i) 34,527 shares, *<u>plus</u>* (ii) an additional number of shares equal to (a) 34, 5217 shares, multiplied by (b) the aggregate original principal amount of** all **Equipment Advances (as defined in the Loan Agreement) made under the Loan Agreement, divided by (c) $8,000,000** 

**Warrant Price: $0.29 per share** 

**Issue Date:&nbsp;&nbsp;&nbsp;&nbsp;**<u>8/4/2017</u>

**Expiration Date: The 10**<sup>th</sup> **anniversary after the Issue Date; See also Section 5.1(b).**

**Credit Facility:&nbsp;&nbsp;&nbsp;&nbsp;**This Warrant to Purchase Common Stock ("**<u>Warrant</u>**") is issued in connection with that certain Loan and Security Agreement of even date herewith between Silicon Valley Bank and the Company (the "**<u>Loan Agreement</u>**").

THIS WARRANT PROVIDES THAT, for good and valuable consideration, SILICON VALLEY BANK (together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, "**<u>Holder</u>**") is entitled to purchase the number of fully paid and non-assessable shares (the "**<u>Shares</u>**") of the above-stated common stock (the "**<u>Common Stock</u>**") of the above-named company (the "**<u>Company</u>**") at the above-stated Warrant Price, all as set forth above and as adjusted pursuant to Section 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. Reference is made to Section 5.4 of this Warrant whereby Silicon Valley Bank shall transfer this Warrant to its parent company, SVB Financial Group.

SECTION 1. <u>EXERCISE</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Method of Exercise</u>. Holder may at any time and from time to time exercise this Warrant, in whole or in part, by delivering to the Company this Warrant together with a duly executed Notice of Exercise in substantially the form attached hereto as Appendix 1 and, unless Holder is exercising this Warrant pursuant to a cashless exercise set forth in Section 1.2, a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. In no event shall an original ink-signed paper copy of this Warrant be required for any exercise of a Holder's rights hereunder, nor shall this Warrant or any physical copy thereof be required to be physically surrendered at the time of any exercise hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Cashless Exercise</u>. On any exercise of this Warrant, in lieu of payment of the aggregate Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Shares equal to

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the value of this Warrant, or portion hereof as to which this Warrant is being exercised. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable Shares as are computed using the following formula:

X =&nbsp;&nbsp;&nbsp;&nbsp;Y(A-B)/A

where:

X =&nbsp;&nbsp;&nbsp;&nbsp;the number of Shares to be issued to the Holder;

Y =&nbsp;&nbsp;&nbsp;&nbsp;the number of Shares with respect to which this Warrant is being exercised (inclusive of the Shares surrendered to the Company in payment of the aggregate Warrant Price);

A =&nbsp;&nbsp;&nbsp;&nbsp;the Fair Market Value (as determined pursuant to Section 1.3 below) of one Share; and

B =&nbsp;&nbsp;&nbsp;&nbsp;the Warrant Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Fair Market Value</u>. If the Company's Common Stock is then traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a "**<u>Trading Market</u>**"), the fair market value of a Share shall be the closing price or last sale price of a share of Common Stock reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If the Company's Common Stock is not traded in a Trading Market, the Board of Directors of the Company shall determine the fair market value of a Share in its reasonable good faith judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery of Certificate and New Warrant</u>. Within a reasonable time after Holder exercises this Warrant in the manner set forth in Section 1.1 or 1.2 above, the Company shall deliver to Holder a certificate representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised and has not expired, a new warrant of like tenor representing the Shares not so acquired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Replacement of Warrant</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Paper Original Warrant</u>. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount to the Company or, in the case of mutilation, on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Original Warrant</u>. If at any time this Warrant is rejected by any person (including but not limited to, paying or escrow agents) or any such person fails to comply with the terms of this Warrant based on this Warrant being presented to such person as an electronic record, a printout thereof, or any signature hereto being in electronic form, the

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Company, shall, promptly upon Holder's request without indemnity, execute and deliver to Holder, in lieu of electronic original versions of this warrant, a new warrant of like tenor and amount in paper form with original ink signatures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Treatment of Warrant Upon Acquisition of Company</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Acquisition</u>. For the purpose of this Warrant, "**<u>Acquisition</u>**" means any transaction or series of related transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company (ii) any merger or consolidation of the Company into or with another person or entity (other than a merger or consolidation effected exclusively to change the Company's domicile), or any other corporate reorganization, in which the stockholders of the Company in their capacity as such immediately prior to such merger, consolidation or reorganization, own less than a majority of the Company's (or the surviving or successor entity's) outstanding voting power immediately after such merger, consolidation or reorganization; or (iii) any sale or other transfer by the stockholders of the Company of shares representing at least a majority of the Company's thentotal outstanding combined voting power.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Treatment of Warrant at Acquisition</u>. In the event of an Acquisition in which the consideration to be received by the Company's stockholders consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable Securities (a "**<u>Cash/Public Acquisition</u>**"), and the fair market value of one Share as determined in accordance with Section 1.3 above would be greater than the Warrant Price in effect on such date immediately prior to such Cash/Public Acquisition, and Holder has not exercised this Warrant pursuant to Section 1.1 above as to all Shares, then this Warrant shall automatically be deemed to be Cashless Exercised pursuant to Section 1.2 above as to all Shares effective immediately prior to and contingent upon the consummation of a Cash/Public Acquisition. In connection with such Cashless Exercise, Holder shall be deemed to have restated each of the representations and warranties in Section 4 of the Warrant as the date thereof and the Company shall promptly notify the Holder of the number of Shares (or such other securities) issued upon exercise. In the event of a Cash/Public Acquisition where the fair market value of one Share as determined in accordance with Section 1.3 above would be less than the Warrant Price in effect immediately prior to such Cash/Public Acquisition, then this Warrant will expire immediately prior to the consummation of such Cash/Public Acquisition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Upon the closing of any Acquisition other than a Cash/Public Acquisition defined above, the acquiring, surviving or successor entity shall assume the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property as would have been paid for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on and as of the closing of such Acquisition, subject to further adjustment from time to time in accordance with the provisions of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;As used in this Warrant, "**<u>Marketable Securities</u>**" means securities meeting all of the following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended

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(the "**<u>Exchange Act</u>**"), and is then current in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition were Holder to exercise this Warrant on or prior to the closing thereof is then traded in Trading Market, and (iii) following the closing of such Acquisition, Holder would not be restricted from publicly re-selling all of the issuer's shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise or convert this Warrant in full on or prior to the closing of such Acquisition, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition.

SECTION 2. <u>ADJUSTMENTS TO THE SHARES AND WARRANT PRICE</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Dividends, Splits, Etc</u>. If the Company declares or pays a dividend or distribution on the outstanding shares of the Common Stock payable in securities or property (other than cash), then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and kind of securities and property which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution occurred. If the Company subdivides the outstanding shares of the Common Stock by reclassification or otherwise into a greater number of shares, the number of Shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares of the Common Stock are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Reclassification, Exchange, Combinations or Substitution</u>. Upon any event whereby all of the outstanding shares of the Common Stock are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such event, this Warrant will be exercisable for the number, class and series of Company securities that Holder would have received had the Shares been outstanding on and as of the consummation of such event, and subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations substitutions, replacements or other similar events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Intentionally Omitted</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Intentionally Omitted</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;<u>No Fractional Share</u>. No fractional Share shall be issuable upon exercise of this Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional Share interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional Share interest by paying Holder in cash the amount computed by multiplying the fractional interest by (i) the fair market value (as determined in accordance with Section 1.3 above) of a full Share, less (ii) the then-effective Warrant Price.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice/Certificate as to Adjustments</u>. Upon each adjustment of the Warrant Price, Common Stock and/or number of Shares, the Company, at the Company's expense, shall notify Holder in writing within a reasonable time setting forth the adjustments to the Warrant Price, class and/or number of Shares and facts upon which such adjustment is based. The Company shall, upon written request from Holder, furnish Holder with a certificate of its Chief Financial Officer, including computations of such adjustment and the Warrant Price, class and number of Shares in effect upon the date of such adjustment.

SECTION 3. <u>REPRESENTATIONS AND COVENANTS OF THE COMPANY</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>. The Company represents and warrants to, and agrees with, the Holder as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The initial Warrant Price referenced on the first page of this Warrant is not greater than the price per share at which shares of Company Common Stock were valued in the most recent 409a valuation received by the Company prior to the Issue Date hereof. The initial Number of Shares referenced on the first page of this Warrant, 34,527 shares, is at least 0.05% of the Company's outstanding capital stock on a Fully Diluted Basis measured on the Issue Date of this Warrant. "<u>Fully Diluted Basis</u>" means the Company's outstanding capital stock, including (i) all common stock, (ii) all preferred stock on an as-converted to common stock basis, and (iii) all shares reserved for grant or issuance under the Company's employee equity incentive option pool, and assuming full conversion of all convertible securities (including all convertible notes) and exercise of all convertible securities and exercise of all convertible rights, options and warrants, reserved or outstanding, directly or indirectly, into common stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All Shares which may be issued upon the exercise of this Warrant, shall, upon issuance, be duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. The Company covenants that it shall at all times cause to be reserved and kept available out of its authorized and unissued capital stock such number of securities as will be sufficient to permit the exercise in full of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Company's capitalization table attached hereto as Schedule 1 is true and complete, in all material respects, as of the Issue Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Certain Events</u>. If the Company proposes at any time to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;declare any dividend or distribution upon the outstanding shares of the Company's stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;offer for subscription or sale pro rata to all holders of the outstanding shares any additional shares of any class or series of the Company's stock (other than pursuant to contractual pre-emptive rights);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;effect any reclassification, exchange, combination, substitution, reorganization or recapitalization of the outstanding shares of the Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;effect an Acquisition or to liquidate, dissolve or wind up; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;effect its initial, underwritten offering and sale of its securities to the public pursuant to an effective registration statement under the Act (the "**<u>IPO</u>**");

then, in connection with each such event, the Company shall give Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;in the case of the matters referred to in (a) and (b) above, at least seven (7) Business Days prior written notice of the earlier to occur of the effective date thereof or the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of outstanding shares of the Common Stock will be entitled thereto) or for determining rights to vote, if any,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;in the case of the matters referred to in (c) and (d) above at least seven (7) Business Days prior written notice of the date when the same will take place (and specifying the date on which the holders of outstanding shares of the Class will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event and such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection with such event giving rise to the notice); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;with respect to the IPO, at least seven (7) Business Days prior written notice of the date on which the Company proposes to file its registration statement in connection therewith.

Company will also provide information requested by Holder that is reasonably necessary to enable Holder to comply with Holder's accounting or reporting requirements.

SECTION 4. <u>REPRESENTATIONS, WARRANTIES OF THE HOLDER</u>.

The Holder represents and warrants to the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase for Own Account</u>. This Warrant and the Shares to be acquired upon exercise of this Warrant by Holder are being acquired for investment for Holder's account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring this Warrant or the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclosure of Information</u>. Holder is aware of the Company's business affairs and financial condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional

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information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Experience</u>. Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder's investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Accredited Investor Status</u>. Holder is an "accredited investor" within the meaning of Regulation D promulgated under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>The Act</u>. Holder understands that this Warrant and the Shares issuable upon exercise hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder's investment intent as expressed herein. Holder understands that this Warrant and the Shares issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Market Stand-off Agreement</u>. The Holder agrees that the Shares shall be subject to the Market Standoff provisions in Section 3.11 of the Investor Rights Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7&nbsp;&nbsp;&nbsp;&nbsp;<u>No Voting Rights</u>. Holder, as a Holder of this Warrant, will not have any voting rights until the exercise of this Warrant.

SECTION 5. <u>MISCELLANEOUS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Term and Automatic Conversion Upon Expiration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Term</u>. Subject to the provisions of Section 1.6 above, this Warrant is exercisable in whole or in part at any time and from time to time on or before 6:00 PM, Pacific time, on the Expiration Date and shall be void thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Automatic Cashless Exercise upon Expiration</u>. In the event that, upon the Expiration Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall, within a reasonable time,

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deliver a certificate representing the Shares (or such other securities) issued upon such exercise to Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>. The Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form:

THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**<u>ACT</u>**"), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE COMMON STOCK ISSUED BY THE ISSUER TO SILICON VALLEY BANK DATED _______________, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Securities Laws on Transfer</u>. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to SVB Financial Group (Silicon Valley Bank's parent company) or any other affiliate of Holder, provided that any such transferee is an "accredited investor" as defined in Regulation D promulgated under the Act. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Transfer Procedure</u>. After receipt by Silicon Valley Bank of the executed Warrant, Silicon Valley Bank will transfer all of this Warrant to its parent company, SVB Financial Group. By its acceptance of this Warrant, SVB Financial Group hereby makes to the Company each of the representations and warranties set forth in Section 4 hereof and agrees to be bound by all of the terms and conditions of this Warrant as if the original Holder hereof. Subject to the provisions of Section 5.3 and upon providing the Company with written notice, SVB Financial Group and any subsequent Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the securities issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in connection with any such transfer, SVB Financial Group or any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable); and provided further, that any subsequent transferee other than SVB Financial Group shall agree in writing with the Company

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to be bound by all of the terms and conditions of this Warrant. Notwithstanding any contrary provision herein, at all times prior to the IPO, Holder may not, without the Company's prior written consent, transfer this Warrant or any portion hereof, or any Shares issued upon any exercise hereof, or any shares or other securities issued upon any conversion of any Shares issued upon any exercise hereof, to any person or entity who directly competes with the Company, except in connection with an Acquisition of the Company by such a direct competitor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices and other communications hereunder from the Company to the Holder, or vice versa, shall be deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified mail, postage prepaid, (iii) upon actual receipt if given by electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier service, courier fee prepaid, in any case at such address as may have been furnished to the Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the provisions of this Section 5.5. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise:

SVB Financial Group

Attn: Treasury Department

3003 Tasman Drive, HC 215

Santa Clara, CA 95054

Telephone:

Email address:

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address:

Keep Truckin, Inc.

Attn:__________________________

350 Sansome Street, #500

San Francisco, CA 94104

Telephone:_____________________

Email:_________________________

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

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP

Attn: Jon Novotny

1 Bush St. #1200

San Francisco, CA 94104

Telephone:

Email:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver</u>. This Warrant and any term hereof may be changed, waived, discharged or terminated (either generally or in a particular instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Attorney's Fees</u>. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys' fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts; Electronic Signatures; Status as Certificated Security</u>. This Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement. Company, Holder and any other party hereto may execute this Warrant by electronic means and each party hereto recognizes and accepts the use of electronic signatures and records by any other party hereto in connection with the execution and storage hereof. To the extent that this Warrant or any agreement subject to the terms hereof or any amendment hereto is executed, recorded or delivered electronically, it shall be binding to the same extent as though it had been executed on paper with an original ink signature. The fact that this Warrant is executed, signed, stored or delivered electronically shall not prevent the transfer by any Holder of this Warrant pursuant to Section 5.4 or the enforcement of the terms hereof. This Warrant, and any copies hereof, shall NOT be deemed to be a "certificated security" within the meaning of section 8102(a)(4) of the California Commercial Code. Physical possession of the original of this Warrant or any paper copy thereof shall confer no special status to the bearer thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Warrant shall be governed by and construed in accordance with the laws of the State of California, without giving effect to its principles regarding conflicts of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Headings</u>. The headings in this Warrant are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Business Days</u>. "**<u>Business Day</u>**" is any day that is not a Saturday, Sunday or a day on which Silicon Valley Bank is closed.

[Remainder of page left blank intentionally]

[Signature page follows]

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IN WITNESS WHEREOF, the parties have caused this Warrant to Purchase Common Stock to be executed by their duly authorized representatives effective as of the Issue Date written above.

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| | | |
|:---|:---|:---|
| "COMPANY" | "COMPANY" | "COMPANY" |
| <u>KEEP TRUCKIN, INC.</u> | <u>KEEP TRUCKIN, INC.</u> | <u>KEEP TRUCKIN, INC.</u> |
| By: | /s/ Shoaib Makani | /s/ Shoaib Makani |
| Name: | Name: | Shoaib Makani |
|  | (Print) | (Print) |
| Title: CEO | Title: CEO | Title: CEO |
| "HOLDER" | "HOLDER" | "HOLDER" |
| SILICON VALLEY BANK | SILICON VALLEY BANK | SILICON VALLEY BANK |
| By: | /s/ Alex Choy | /s/ Alex Choy |
| Name: | Name: | Alex Choy |
|  | (Print) | (Print) |
| Title: Vice President | Title: Vice President | Title: Vice President |

---

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APPENDIX 1

<u>NOTICE OF EXERCISE</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Holder hereby exercises its right purchase ______ shares of the Common Stock of Keep Truckin, Inc. (the "**<u>Company</u>**") in accordance with the attached Warrant To Purchase Common Stock, and tenders payment of the aggregate Warrant Price for such shares as follows:

[&nbsp;&nbsp;&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;check in the amount of $__________ payable to order of the Company enclosed herewith

[&nbsp;&nbsp;&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;Wire transfer of immediately available funds to the Company's account

[&nbsp;&nbsp;&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;Cashless Exercise pursuant to Section 1.2 of the Warrant

[&nbsp;&nbsp;&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;Other [Describe] ____________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;Please issue a certificate or certificates representing the Shares in the name specified below:

______________________________

Holder's Name

______________________________

______________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;By its execution below and for the benefit of the Company, Holder hereby restates each of the representations and warranties in Section 4 of the Warrant to Purchase Common Stock as of the date hereof.

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| |
|:---|
| HOLDER: |
| By: |
| Name: |
| Title: |
| (Date): |

---

Appendix 1

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SCHEDULE 1

<u>Company Capitalization Table</u>

## Exhibit 10.2

**Exhibit 10.2**

**MOTIVE TECHNOLOGIES, INC.**

**AMENDED AND RESTATED 2013 EQUITY INCENTIVE PLAN**

**As Adopted on June 14, 2013, amended on June 21, 2013, amended on June 11, 2015, amended on May 1, 2017, amended on December 28, 2017, amended and restated on December 12, 2018, amended on April 4, 2019, amended on July 19, 2019, amended effective September 15, 2020, amended on March 24, 2021, amended on January 27, 2022, amended on April 8, 2022, amended on April 11, 2022, amended on February 2, 2023, amended on August 15, 2024 and amended on January 29, 2025.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;<u>PURPOSE</u>**. The purpose of this Plan is to provide incentives to attract, retain and motivate eligible persons whose present and potential contributions are important to the success of the Company, its Parent and Subsidiaries by offering eligible persons an opportunity to participate in the Company's future performance through the grant of Awards covering Shares. Capitalized terms not defined in the text are defined in Section 14 hereof. Although this Plan is intended to be a written compensatory benefit plan within the meaning of Rule 701, grants may be made pursuant to this Plan that do not qualify for exemption under Rule 701 or Section 25102(o). Any requirement of this Plan that is required in law only because of Section 25102(o) need not apply if the Committee so provides.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;<u>SHARES SUBJECT TO THE PLAN</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Number of Shares Available</u>**. Subject to Sections 2.2 and 11 hereof, the total number of Shares reserved and available for grant and issuance pursuant to this Plan will be 160,546,603 Shares. Subject to Sections 2.2 and 11 hereof, Shares subject to Awards that are canceled, forfeited, settled in cash, used to pay withholding obligations or pay the exercise price of an Option or that expire by their terms at any time will again be available for grant and issuance in connection with other Awards. In the event that Shares previously issued under the Plan are reacquired by the Company pursuant to a forfeiture provision, right of first refusal, or repurchase by the Company, such Shares shall be added to the number of Shares then available for issuance under the Plan. Notwithstanding anything to the contrary, (i) each share that becomes available for grant and issuance pursuant to this Plan on or after April 12, 2022 (the "***Reclassification Date***") by virtue of the second or third sentence of this Section 2.1 shall be deemed a share of Common Stock upon so becoming available under this Plan, regardless of the type or class of Company capital stock previously attributed to such share, (ii) all shares subject to Awards awarded prior to, and outstanding as of, the Reclassification Date shall be shares of Common Stock, (iii) all shares subject to Awards awarded on and after the Reclassification Date shall be shares of Common Stock and (iv) all shares reserved and available for grant and issuance pursuant to this Plan on and after the Reclassification Date shall be shares of Common Stock. At all times the Company will reserve and keep available a sufficient number of Shares as will be required to satisfy the requirements of all Awards granted and outstanding under this Plan. In no event shall the total number of Shares issued (counting each reissuance of a Share that was previously issued and then forfeited or repurchased by the Company as a separate issuance) under the Plan upon exercise of ISOs exceed 1,605,466,030 Shares (adjusted in proportion to any adjustments under Section 2.2 hereof) over the term of the Plan (the "***ISO***

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***Limit***"). Subject to Sections 2.2 and 11 hereof, in the event that the number of Shares reserved for issuance under the Plan is increased, the ISO Limit shall be automatically increased by such number of Shares such that the ISO Limit equals (a) ten (10) multiplied by (b) the number of Shares reserved for issuance under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Adjustment of Shares</u>**. In the event that the number of outstanding shares of the Company's Common Stock is changed by a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or other change in the capital structure of the Company affecting Shares without consideration, then in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan (a) the number of Shares reserved for issuance under this Plan, (b) the Exercise Prices of and number of Shares subject to outstanding Options and SARs, and (c) the Purchase Prices of and/or number of Shares subject to other outstanding Awards will be proportionately adjusted, subject to any required action by the Board or the stockholders of the Company and compliance with applicable securities laws; *<u>provided</u>*, *<u>however</u>*, that fractions of a Share will not be issued but will either be paid in cash at the Fair Market Value of such fraction of a Share or will be rounded down to the nearest whole Share, as determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;<u>PLAN FOR BENEFIT OF SERVICE PROVIDERS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Eligibility</u>**. The Committee will have the authority to select persons to receive Awards. ISOs (as defined in Section 4 hereof) may be granted only to employees (including officers and directors who are also employees) of the Company or of a Parent or Subsidiary of the Company. NQSOs (as defined in Section 4 hereof) and all other types of Awards may be granted to employees, officers, directors and consultants of the Company or any Parent or Subsidiary of the Company; provided such consultants render bona fide services not in connection with the offer and sale of securities in a capital-raising transaction when Rule 701 is to apply to the Award granted for such services. A person may be granted more than one Award under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>No Obligation to Employ</u>**. Nothing in this Plan or any Award granted under this Plan will confer or be deemed to confer on any Participant any right to continue in the employ of, or to continue any other relationship with, the Company or any Parent or Subsidiary or limit in any way the right of the Company or any Parent or Subsidiary to terminate Participant's employment or other relationship at any time, with or without Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;<u>OPTIONS</u>**. The Committee may grant Options to eligible persons described in Section 3 hereof and will determine whether such Options will be Incentive Stock Options within the meaning of the Code ("***ISOs***") or Nonqualified Stock Options ("***NQSOs***"), the number of Shares subject to the Option, the Exercise Price of the Option, the period during which the Option may be exercised, and all other terms and conditions of the Option, subject to the following.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Form of Option Grant</u>**. Each Option granted under this Plan will be evidenced by an Award Agreement which will expressly identify the Option as an ISO or an NQSO ("***Stock Option Agreement***"), and will be in such form and contain such provisions

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(which need not be the same for each Participant) as the Committee may from time to time approve, and which will comply with and be subject to the terms and conditions of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Date of Grant</u>**. The date of grant of an Option will be the date on which the Committee makes the determination to grant such Option, unless a later date is otherwise specified by the Committee. The Stock Option Agreement and a copy of this Plan will be delivered to the Participant within a reasonable time after the granting of the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Exercise Period</u>**. Options may be exercisable within the time or upon the events determined by the Committee in the Award Agreement and may be awarded as immediately exercisable but subject to repurchase pursuant to Section 10 hereof or may be exercisable within the times or upon the events determined by the Committee as set forth in the Stock Option Agreement governing such Option; *<u>provided</u>*, *<u>however</u>*, that (a) no Option will be exercisable after the expiration of ten (10) years from the date the Option is granted; and (b) no ISO granted to a person who directly or by attribution owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any Parent or Subsidiary ("***Ten Percent Stockholder***") will be exercisable after the expiration of five (5) years from the date the ISO is granted. The Committee also may provide for Options to become exercisable at one time or from time to time, periodically or otherwise, in such number of Shares or percentage of Shares as the Committee determines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Exercise Price</u>**. The Exercise Price of an Option will be determined by the Committee when the Option is granted and shall not be less than the Fair Market Value per Share unless expressly determined in writing by the Committee on the Option's date of grant; *<u>provided</u>* that the Exercise Price of an ISO granted to a Ten Percent Stockholder will not be less than one hundred ten percent (110%) of the Fair Market Value of the Shares on the date of grant. Payment for the Shares purchased must be made in accordance with Section 8 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Method of Exercise</u>**. Options may be exercised only by delivery to the Company of a written stock option exercise agreement (the "***Exercise Agreement***") in a form approved by the Committee (which need not be the same for each Participant). The Exercise Agreement will state (a) the number of Shares being purchased, (b) the restrictions imposed on the Shares purchased under such Exercise Agreement, if any, and (c) such representations and agreements regarding Participant's investment intent and access to information and other matters, if any, as may be required or desirable by the Company to comply with applicable securities laws. Each Participant's Exercise Agreement may be modified by (i) agreement of Participant and the Company or (ii) substitution by the Company, upon becoming a public company, in order to add the payment terms set forth in Section 8.1 that apply to a public company and such other terms as shall be necessary or advisable in order to exercise a public company option. Upon exercise of an Option, Participant shall execute and deliver to the Company the Exercise Agreement then in effect, together with payment in full of the Exercise Price for the number of Shares being purchased and payment of any applicable taxes. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 2.2 of the Plan. Exercising an Option in any

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manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Termination</u>**.&nbsp;&nbsp;&nbsp;&nbsp;Subject to earlier termination pursuant to Sections 11 and 13.3 hereof and notwithstanding the exercise periods set forth in the Stock Option Agreement, exercise of an Option will always be subject to the following terms and conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Other than Death or Disability or for Cause</u>. If the Participant is Terminated for any reason other than death, Disability or for Cause, then the Participant may exercise such Participant's Options only to the extent that such Options are exercisable as to Vested Shares upon the Termination Date or as otherwise determined by the Committee. Such Options must be exercised by the Participant, if at all, as to all or some of the Vested Shares calculated as of the Termination Date or such other date determined by the Committee, within three (3) months after the Termination Date (or within such shorter time period, not less than thirty (30) days, or within such longer time period after the Termination Date as may be determined by the Committee, with any exercise beyond three (3) months after the date Participant ceases to be an employee deemed to be an NQSO) but in any event, no later than the expiration date of the Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Death or Disability</u>. If the Participant is Terminated because of Participant's death or Disability (or the Participant dies within three (3) months after a Termination other than for Cause), then Participant's Options may be exercised only to the extent that such Options are exercisable as to Vested Shares by Participant on the Termination Date or as otherwise determined by the Committee. Such options must be exercised by Participant (or Participant's legal representative or authorized assignee), if at all, as to all or some of the Vested Shares calculated as of the Termination Date or such other date determined by the Committee, within twelve (12) months after the Termination Date (or within such shorter time period, not less than six (6) months, or within such longer time period, after the Termination Date as may be determined by the Committee, with any exercise beyond (a) three (3) months after the date Participant ceases to be an employee when the Termination is for any reason other than the Participant's death or disability, within the meaning of Section 22(e)(3) of the Code, or (b) twelve (12) months after the date Participant ceases to be an employee when the Termination is for Participant's disability, within the meaning of Section 22(e)(3) of the Code, deemed to be an NQSO) but in any event no later than the expiration date of the Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>For Cause</u>. If the Participant is terminated for Cause, the Participant may exercise such Participant's Options, but not to an extent greater than such Options are exercisable as to Vested Shares upon the Termination Date and Participant's Options shall expire on such Participant's Termination Date, or at such later time and on such conditions as are determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Limitations on Exercise</u>**. The Committee may specify a reasonable minimum number of Shares that may be purchased on any exercise of an Option, provided that such minimum number will not prevent Participant from exercising the Option for the full number of Shares for which it is then exercisable.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Limitations on ISOs</u>**. The aggregate Fair Market Value (determined as of the date of grant) of Shares with respect to which ISOs are exercisable for the first time by a Participant during any calendar year (under this Plan or under any other incentive stock option plan of the Company or any Parent or Subsidiary of the Company) will not exceed One Hundred Thousand Dollars ($100,000). If the Fair Market Value of Shares on the date of grant with respect to which ISOs are exercisable for the first time by a Participant during any calendar year exceeds One Hundred Thousand Dollars ($100,000), then the Options for the first One Hundred Thousand Dollars ($100,000) worth of Shares to become exercisable in such calendar year will be ISOs and the Options for the amount in excess of One Hundred Thousand Dollars ($100,000) that become exercisable in that calendar year will be NQSOs. In the event that the Code or the regulations promulgated thereunder are amended after the Effective Date (as defined in Section 13.1 hereof) to provide for a different limit on the Fair Market Value of Shares permitted to be subject to ISOs, then such different limit will be automatically incorporated herein and will apply to any Options granted after the effective date of such amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Modification, Extension or Renewal</u>**. The Committee may modify, extend or renew outstanding Options and authorize the grant of new Options in substitution therefor, provided that any such action may not, without the written consent of a Participant, impair any of such Participant's rights under any Option previously granted. Any outstanding ISO that is modified, extended, renewed or otherwise altered will be treated in accordance with Section 424(h) of the Code. Subject to Section 4.10 hereof, the Committee may reduce the Exercise Price of outstanding Options without the consent of Participants by a written notice to them; *<u>provided</u>*, *<u>however</u>*, that the Exercise Price may not be reduced below the minimum Exercise Price that would be permitted under Section 4.4 hereof for Options granted on the date the action is taken to reduce the Exercise Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10.&nbsp;&nbsp;&nbsp;&nbsp;**<u>No Disqualification</u>**. Notwithstanding any other provision in this Plan, no term of this Plan relating to ISOs will be interpreted, amended or altered, nor will any discretion or authority granted under this Plan be exercised, so as to disqualify this Plan under Section 422 of the Code or, without the consent of the Participant, to disqualify any Participant's ISO under Section 422 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;<u>RESTRICTED STOCK</u>**. A Restricted Stock Award is an offer by the Company to sell to an eligible person Shares that are subject to certain specified restrictions. The Committee will determine to whom an offer will be made, the number of Shares the person may purchase, the Purchase Price, the restrictions to which the Shares will be subject, and all other terms and conditions of the Restricted Stock Award, subject to the following terms and conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Form of Restricted Stock Award</u>**. All purchases under a Restricted Stock Award made pursuant to this Plan will be evidenced by an Award Agreement ("***Restricted Stock Purchase Agreement***") that will be in such form (which need not be the same for each Participant) as the Committee will from time to time approve, and will comply with and be subject to the terms and conditions of this Plan. The Restricted Stock Award will be accepted by the Participant's execution and delivery of the Restricted Stock Purchase Agreement and full

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payment for the Shares to the Company within thirty (30) days from the date the Restricted Stock Purchase Agreement is delivered to the person. If such person does not execute and deliver the Restricted Stock Purchase Agreement along with full payment for the Shares to the Company within such thirty (30) days, then the offer will terminate, unless otherwise determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Purchase Price</u>**. The Purchase Price of Shares sold pursuant to a Restricted Stock Award will be determined by the Committee on the date the Restricted Stock Award is granted or at the time the purchase is consummated. Payment of the Purchase Price must be made in accordance with Section 8 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Dividends and Other Distributions</u>**. Participants holding Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Committee provides otherwise at the time of award. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Restrictions</u>**. Restricted Stock Awards may be subject to the restrictions set forth in Sections 9 and 10 hereof or, with respect to a Restricted Stock Award to which Section 25102(o) is to apply, such other restrictions not inconsistent with Section 25102(o).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;<u>RESTRICTED STOCK UNITS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Awards of Restricted Stock Units</u>**. A Restricted Stock Unit ("***RSU***") is an Award covering a number of Shares that may be settled in cash, or by issuance of those Shares at a date in the future. No Purchase Price shall apply to an RSU settled in Shares. All grants of Restricted Stock Units will be evidenced by an Award Agreement that will be in such form (which need not be the same for each Participant) as the Committee will from time to time approve, and will comply with and be subject to the terms and conditions of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Form and Timing of Settlement</u>**. To the extent permissible under applicable law, the Committee may permit a Participant to defer payment under a RSU to a date or dates after the RSU is earned, provided that the terms of the RSU and any deferral satisfy the requirements of Section 409A of the Code (or any successor) and any regulations or rulings promulgated thereunder. Payment may be made in the form of cash or whole Shares or a combination thereof, all as the Committee determines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;<u>STOCK APPRECIATION RIGHTS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Awards of SARs</u>**. Stock Appreciation Rights ("***SARs***") may be settled in cash, or Shares (which may consist of Restricted Stock or RSUs), having a value equal to the value determined by multiplying the difference between the Fair Market Value on the date of exercise over the Exercise Price and the number of Shares with respect to which the SAR is being settled. All grants of SARs made pursuant to this Plan will be evidenced by an Award Agreement that will be in such form (which need not be the same for each Participant) as the

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Committee will from time to time approve, and will comply with and be subject to the terms and conditions of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Exercise Period and Expiration Date</u>**. A SAR will be exercisable within the times or upon the occurrence of events determined by the Committee and set forth in the Award Agreement governing such SAR. The Award Agreement shall set forth the Expiration Date; provided that no SAR will be exercisable after the expiration of ten years from the date the SAR is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Exercise Price</u>**. The Committee will determine the Exercise Price of the SAR when the SAR is granted, and which may not be less than the Fair Market Value on the date of grant and may be settled in cash or in Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Termination</u>**. Subject to earlier termination pursuant to Sections 11 and 13.1 hereof and notwithstanding the exercise periods set forth in the Award Agreement, exercise of SARs will always be subject to the following terms and conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Other than Death or Disability or for Cause</u>. If the Participant is Terminated for any reason other than death, Disability or for Cause, then the Participant may exercise such Participant's SARs only to the extent that such SARs are exercisable as to vested Shares upon the Termination Date or as otherwise determined by the Committee. SARs must be exercised by the Participant, if at all, as to all or some of the vested Shares calculated as of the Termination Date or such other date determined by the Committee, within three (3) months after the Termination Date (or within such shorter time period, not less than thirty (30) days, or within such longer time period after the Termination Date as may be determined by the Committee) but in any event, no later than the expiration date of the SARs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Death or Disability</u>. If the Participant is Terminated because of Participant's death or Disability (or the Participant dies within three (3) months after a Termination other than for Cause), then Participant's SARs may be exercised only to the extent that such SARs are exercisable as to vested Shares by Participant on the Termination Date or as otherwise determined by the Committee. Such SARs must be exercised by Participant (or Participant's legal representative or authorized assignee), if at all, as to all or some of the vested Shares calculated as of the Termination Date or such other date determined by the Committee, within twelve (12) months after the Termination Date (or within such shorter time period, not less than six (6) months, or within such longer time period after the Termination Date as may be determined by the Committee) but in any event no later than the expiration date of the SARs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>For Cause</u>. If the Participant is terminated for Cause, the Participant may exercise such Participant's SARs, but not to an extent greater than such SARs are exercisable as to vested Shares upon the Termination Date and Participant's SARs shall expire on such Participant's Termination Date, or at such later time and on such conditions as are determined by the Committee.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.&nbsp;&nbsp;&nbsp;&nbsp;<u>PAYMENT FOR PURCHASES AND EXERCISES</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Payment in General</u>**. Payment for Shares acquired pursuant to this Plan may be made in cash (by check) or, where expressly approved for the Participant by the Committee and where permitted by law:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;by cancellation of indebtedness of the Company owed to the Participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;by surrender of shares of the Company that are clear of all liens, claims, encumbrances or security interests and: (i) for which the Company has received "full payment of the purchase price" within the meaning of SEC Rule 144 (and, if such shares were purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares) or (ii) that were obtained by Participant in the public market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;by tender of a full recourse promissory note having such terms as may be approved by the Committee and bearing interest at a rate sufficient to avoid imputation of income under Sections 483 and 1274 of the Code; *<u>provided</u>*, *<u>however</u>*, that Participants who are not employees or directors of the Company will not be entitled to purchase Shares with a promissory note unless the note is adequately secured by collateral other than the Shares; *<u>provided</u>*, *<u>further</u>*, that the portion of the Exercise Price or Purchase Price, as the case may be, equal to the par value (if any) of the Shares must be paid in cash or other legal consideration permitted by the laws under which the Company is then incorporated or organized;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;by waiver of compensation due or accrued to the Participant from the Company for services rendered;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;by participating in a formal cashless exercise program implemented by the Committee in connection with the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;subject to compliance with applicable law, provided that a public market for the Company's Common Stock exists, by exercising through a "same day sale" commitment from the Participant and a broker-dealer whereby the Participant irrevocably elects to exercise the Award and to sell a portion of the Shares so purchased sufficient to pay the total Exercise Price or Purchase Price, and whereby the broker-dealer irrevocably commits upon receipt of such Shares to forward the total Exercise Price or Purchase Price directly to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;by any combination of the foregoing or any other method of payment approved by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Withholding Taxes</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Withholding Generally</u>. Whenever Shares are to be issued in satisfaction of Awards granted under this Plan, the Company may require the Participant to remit to the Company an amount sufficient to satisfy applicable tax withholding requirements prior to

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the delivery of any certificate or certificates for such Shares. Whenever, under this Plan, payments in satisfaction of Awards are to be made in cash by the Company, such payment will be net of an amount sufficient to satisfy applicable tax withholding requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Withholding</u>. When, under applicable tax laws, a Participant incurs tax liability in connection with the exercise or vesting of any Award that is subject to tax withholding and the Participant is obligated to pay the Company the amount required to be withheld, the Committee may in its sole discretion allow the Participant to satisfy the minimum tax withholding obligation by electing to have the Company withhold from the Shares to be issued up to the minimum number of Shares having a Fair Market Value on the date that the amount of tax to be withheld is to be determined that is not more than the minimum amount to be withheld; or to arrange a mandatory "sell to cover" on Participant's behalf (without further authorization) but in no event will the Company withhold Shares or "sell to cover" if such withholding would result in adverse accounting consequences to the Company. Any elections to have Shares withheld or sold for this purpose will be made in accordance with the requirements established by the Committee for such elections and be in writing in a form acceptable to the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.&nbsp;&nbsp;&nbsp;&nbsp;<u>RESTRICTIONS ON AWARDS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Transferability</u>**. Except as permitted by the Committee, Awards granted under this Plan, and any interest therein, will not be transferable or assignable by Participant, other than by will or by the laws of descent and distribution, and, with respect to NQSOs, by instrument to an inter vivos or testamentary trust in which the NQSOs are to be passed to beneficiaries upon the death of the trustor (settlor), or by gift to "family member" as that term is defined in Rule 701, and may not be made subject to execution, attachment or similar process. For the avoidance of doubt, the prohibition against assignment and transfer applies to a stock option and, prior to exercise , the shares to be issued on exercise of a stock option, and pursuant to the foregoing sentence shall be understood to include, without limitation, a prohibition against any pledge, hypothecation, or other transfer, including any short position, any "put equivalent position" or any "call equivalent position" (in each case, as defined in Rule 16a-1 promulgated under the Exchange Act). During the lifetime of the Participant an Award will be exercisable only by the Participant or Participant's legal representative and any elections with respect to an Award may be made only by the Participant or Participant's legal representative. The terms of an Option shall be binding upon the executor, administrator, successors and assigns of the Participant who is a party thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Securities Law and Other Regulatory Compliance</u>**. Although this Plan is intended to be a written compensatory benefit plan within the meaning of Rule 701 promulgated under the Securities Act, grants may be made pursuant to this Plan that do not qualify for exemption under Rule 701 or Section 25102(o). Any requirement of this Plan which is required in law only because of Section 25102(o) need not apply with respect to a particular Award to which Section 25102(o) will not apply. An Award will not be effective unless such Award is in compliance with all applicable federal and state securities laws, rules and regulations of any governmental body, and the requirements of any stock exchange or automated quotation

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system upon which the Shares may then be listed or quoted, as they are in effect on the date of grant of the Award and also on the date of exercise or other issuance. Notwithstanding any other provision in this Plan, the Company will have no obligation to issue or deliver certificates for Shares under this Plan prior to (a) obtaining any approvals from governmental agencies that the Company determines are necessary or advisable, and/or (b) compliance with any exemption, completion of any registration or other qualification of such Shares under any state or federal law or ruling of any governmental body that the Company determines to be necessary or advisable. The Company will be under no obligation to register the Shares with the SEC or to effect compliance with the exemption, registration, qualification or listing requirements of any state securities laws, stock exchange or automated quotation system, and the Company will have no liability for any inability or failure so do.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Exchange and Buyout of Awards</u>**. The Committee may, at any time or from time to time, authorize the Company, with the consent of the respective Participants, to issue new Awards in exchange for the surrender and cancellation of any or all outstanding Awards. Without prior stockholder approval the Committee may reprice Options or SARs (and where such repricing is a reduction in the Exercise Price of outstanding Options or SARs, the consent of the affected Participants is not required provided written notice is provided to them). The Committee may at any time buy from a Participant an Award previously granted with payment in cash, Shares (including Restricted Stock) or other consideration, based on such terms and conditions as the Committee and the Participant may agree.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.&nbsp;&nbsp;&nbsp;&nbsp;<u>RESTRICTIONS ON SHARES</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Privileges of Stock Ownership</u>**. No Participant will have any of the rights of a stockholder with respect to any Shares until such Shares are issued to the Participant. After Shares are issued to the Participant, the Participant will be a stockholder and have all the rights of a stockholder with respect to such Shares, including the right to vote and receive all dividends or other distributions made or paid with respect to such Shares; *<u>provided</u>*, that if such Shares are Restricted Stock, then any new, additional or different securities the Participant may become entitled to receive with respect to such Shares by virtue of a stock dividend, stock split or any other change in the corporate or capital structure of the Company will be subject to the same restrictions as the Restricted Stock. The Participant will have no right to retain such stock dividends or stock distributions with respect to Unvested Shares that are repurchased as described in this Section 10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Rights of First Refusal and Repurchase</u>**. At the discretion of the Committee, the Company may reserve to itself and/or its assignee(s) in the Award Agreement (a) a right of first refusal to purchase all Shares that a Participant (or a subsequent transferee) may propose to transfer to a third party, provided that such right of first refusal terminates upon the Company's initial public offering of Common Stock pursuant to an effective registration statement filed under the Securities Act and (b) a right to repurchase Unvested Shares held by a Participant for cash and/or cancellation of purchase money indebtedness owed to the Company by the Participant following such Participant's Termination at any time.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Escrow; Pledge of Shares</u>**. To enforce any restrictions on a Participant's Shares, the Committee may require the Participant to deposit all certificates representing Shares, together with stock powers or other instruments of transfer approved by the Committee, appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such restrictions have lapsed or terminated. The Committee may cause a legend or legends referencing such restrictions to be placed on the certificate. Any Participant who is permitted to execute a promissory note as partial or full consideration for the purchase of Shares under this Plan will be required to pledge and deposit with the Company all or part of the Shares so purchased as collateral to secure the payment of Participant's obligation to the Company under the promissory note; *<u>provided</u>*, *<u>however</u>*, that the Committee may require or accept other or additional forms of collateral to secure the payment of such obligation and, in any event, the Company will have full recourse against the Participant under the promissory note notwithstanding any pledge of the Participant's Shares or other collateral. In connection with any pledge of the Shares, Participant will be required to execute and deliver a written pledge agreement in such form as the Committee will from time to time approve. The Shares purchased with the promissory note may be released from the pledge on a pro rata basis as the promissory note is paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Securities Law Restrictions</u>**. All certificates for Shares or other securities delivered under this Plan will be subject to such stock transfer orders, legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any rules, regulations and other requirements of the SEC or any stock exchange or automated quotation system upon which the Shares may be listed or quoted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.&nbsp;&nbsp;&nbsp;&nbsp;<u>CORPORATE TRANSACTIONS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Acquisitions or Other Combinations</u>**. In the event that the Company is subject to an Acquisition or Other Combination, outstanding Awards acquired under the Plan shall be subject to the agreement evidencing the Acquisition or Other Combination, which need not treat all outstanding Awards in an identical manner. Such agreement, without the Participant's consent, shall provide for one or more of the following with respect to all outstanding Awards as of the effective date of such Acquisition or Other Combination:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The continuation of such outstanding Awards by the Company (if the Company is the successor entity).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The assumption of outstanding Awards by the successor or acquiring entity (if any) in such Acquisition or Other Combination (or by any of its Parents, if any), which assumption, will be binding on all Participants; *<u>provided</u>* that the exercise price and the number and nature of shares issuable upon exercise of any such option or stock appreciation right, or any award that is subject to Section 409A of the Code, will be adjusted appropriately pursuant to Section 424(a) and Section 409A of the Code. For the purposes of this Section 11, an Award will be considered assumed if, following the Acquisition or Other Combination, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the Acquisition or Other Combination, the consideration (whether stock, cash, or other

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securities or property) received in the Acquisition or Other Combination by holders of Shares for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); *<u>provided</u>*, *<u>however</u>*, that if such consideration received in the Acquisition or Other Combination is not solely common stock of the successor corporation or its Parent, the Committee may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Acquisition or Other Combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The substitution by the successor or acquiring entity in such Acquisition or Other Combination (or by any of its Parents, if any) of equivalent awards with substantially the same terms for such outstanding Awards (except that the exercise price and the number and nature of shares issuable upon exercise of any such option or stock appreciation right, or any award that is subject to Section 409A of the Code, will be adjusted appropriately pursuant to Section 424(a) of the Code).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The full or partial exercisability or vesting and accelerated expiration of outstanding Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The settlement of the full value of such outstanding Award (whether or not then vested or exercisable) in cash, cash equivalents, or securities of the successor entity (or its Parent, if any) with a Fair Market Value equal to the required amount, followed by the cancellation of such Awards; *<u>provided</u> <u>however</u>*, that such Award may be cancelled without consideration if such Award has no value, as determined by the Committee, in its discretion. Subject to Section 409A of the Code, such payment may be made in installments and may be deferred until the date or dates when the Award would have become exercisable or vested. Such payment may be subject to vesting based on the Participant's continued service, provided that without the Participant's consent, the vesting schedule shall not be less favorable to the Participant than the schedule under which the Award would have become vested or exercisable. For purposes of this Section 11.1(e), the Fair Market Value of any security shall be determined without regard to any vesting conditions that may apply to such security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The cancellation of outstanding Awards in exchange for no consideration.

Immediately following an Acquisition or Other Combination, outstanding Awards shall terminate and cease to be outstanding, except to the extent such Awards, have been continued, assumed or substituted, as described in Sections 11.1(a), (b) and/or (c).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Assumption of Awards by the Company</u>**. The Company, from time to time, also may substitute or assume outstanding awards granted by another entity, whether in connection with an acquisition of such other entity or otherwise, by either (a) granting an Award under this Plan in substitution of such other entity's award or (b) assuming and/or converting such award as if it had been granted under this Plan if the terms of such assumed award could be

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applied to an Award granted under this Plan. Such substitution or assumption will be permissible if the holder of the substituted or assumed award would have been eligible to be granted an Award under this Plan if the other entity had applied the rules of this Plan to such grant. In the event the Company assumes an award granted by another entity, the terms and conditions of such award will remain unchanged (except that the exercise price and the number and nature of shares issuable upon exercise of any such option or stock appreciation right, or any award that is subject to Section 409A of the Code, will be adjusted appropriately pursuant to Section 424(a) of the Code). In the event the Company elects to grant a new Option or SAR rather than assuming an existing option or stock appreciation right, such new Option or SAR may be granted with a similarly adjusted Exercise Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.&nbsp;&nbsp;&nbsp;&nbsp;<u>ADMINISTRATION</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;construe and interpret this Plan, any Award Agreement and any other agreement or document executed pursuant to this Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;prescribe, amend, expand, modify and rescind or terminate rules and regulations relating to this Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;approve persons to receive Awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;determine the form and terms of Awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;determine the number of Shares or other consideration subject to Awards granted under this Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;determine the Fair Market Value in good faith and interpret the applicable provisions of this Plan and the definition of Fair Market Value in connection with circumstances that impact the Fair Market Value, if necessary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;determine whether Awards will be granted singly, in combination with, in tandem with, in replacement of, or as alternatives to, other Awards under this Plan or awards under any other incentive or compensation plan of the Company or any Parent or Subsidiary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;grant waivers of any conditions of this Plan or any Award;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;determine the terms of vesting, exercisability and payment of Awards to be granted pursuant to this Plan;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;correct any defect, supply any omission, or reconcile any inconsistency in this Plan, any Award, any Award Agreement, any Exercise Agreement or any Restricted Stock Purchase Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;determine whether an Award has been earned;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;extend the vesting period beyond a Participant's Termination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;adopt rules and/or procedures (including the adoption of any subplan under this Plan) relating to the operation and administration of the Plan to accommodate requirements of local law and procedures outside of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;delegate any of the foregoing to a subcommittee consisting of one or more executive officers pursuant to a specific delegation as may otherwise be permitted by applicable law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;make all other determinations necessary or advisable in connection with the administration of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Committee Composition and Discretion</u>**. The Board may delegate full administrative authority over the Plan and Awards to a Committee consisting of at least one member of the Board (or such greater number as may then be required by applicable law). Unless in contravention of any express terms of this Plan or Award, any determination made by the Committee with respect to any Award will be made in its sole discretion either (a) at the time of grant of the Award, or (b) subject to Section 4.9 hereof, at any later time. Any such determination will be final and binding on the Company and on all persons having an interest in any Award under this Plan. To the extent permitted by applicable law, the Committee may delegate to one or more officers of the Company the authority to grant an Award under this Plan, provided that each such officer is a member of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Nonexclusivity of the Plan</u>**. Neither the adoption of this Plan by the Board, the submission of this Plan to the stockholders of the Company for approval, nor any provision of this Plan will be construed as creating any limitations on the power of the Board to adopt such additional compensation arrangements as it may deem desirable, including, without limitation, the granting of stock options and other equity awards otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Governing Law</u>**. This Plan and all agreements hereunder shall be governed by and construed in accordance with the laws of the State of California, without giving effect to that body of laws pertaining to conflict of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.&nbsp;&nbsp;&nbsp;&nbsp;<u>EFFECTIVENESS, AMENDMENT AND TERMINATION OF THE PLAN</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Adoption and Stockholder Approval</u>**. This Plan will become effective on the date that it is adopted by the Board (the "***Effective Date***"). This Plan will be approved by the stockholders of the Company (excluding Shares issued pursuant to this Plan), consistent with

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applicable laws, within twelve (12) months before or after the Effective Date. Upon the Effective Date, the Board may grant Awards pursuant to this Plan; *<u>provided</u>*, *<u>however</u>*, that: (a) no Option or SAR may be exercised prior to initial stockholder approval of this Plan; (b) no Option or SAR granted pursuant to an increase in the number of Shares approved by the Board shall be exercised prior to the time such increase has been approved by the stockholders of the Company; (c) in the event that initial stockholder approval is not obtained within the time period provided herein, all Awards for which only the exemption from California's securities qualification requirements provided by Section 25102(o) can apply shall be canceled, any Shares issued pursuant to any such Award shall be canceled and any purchase of such Shares issued hereunder shall be rescinded; and (d) Awards (to which only the exemption from California's securities qualification requirements provided by Section 25102(o) can apply) granted pursuant to an increase in the number of Shares approved by the Board which increase is not approved by stockholders within the time then required under Section 25102(o) shall be canceled, any Shares issued pursuant to any such Awards shall be canceled, and any purchase of Shares subject to any such Award shall be rescinded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Term of Plan</u>**. Unless earlier terminated as provided herein, this Plan will automatically terminate ten (10) years after the later of (i) the Effective Date, or (ii) the most recent increase in the number of Shares reserved under Section 2 that was approved by stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Amendment or Termination of Plan</u>**. Subject to Section 4.9 hereof, the Board may at any time (a) terminate or amend this Plan in any respect, including without limitation amendment of any form of Award Agreement or instrument to be executed pursuant to this Plan and (b) terminate any and all outstanding Options or SARs upon a dissolution or liquidation of the Company, followed by the payment of creditors and the distribution of any remaining funds to the Company's stockholders; *<u>provided</u>*, *<u>however</u>*, that the Board will not, without the approval of the stockholders of the Company, amend this Plan in any manner that requires such stockholder approval pursuant to Section 25102(o) or pursuant to the Code or the regulations promulgated under the Code as such provisions apply to ISO plans. The termination of the Plan, or any amendment thereof, shall not affect any Share previously issued or any Award previously granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.&nbsp;&nbsp;&nbsp;&nbsp;<u>DEFINITIONS</u>**. For all purposes of this Plan, the following terms will have the following meanings.

"***Acquisition,***" for purposes of Section 11, means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any consolidation or merger in which the Company is a constituent entity or is a party in which the voting stock and other voting securities of the Company that are outstanding immediately prior to the consummation of such consolidation or merger represent, or are converted into, securities of the surviving entity of such consolidation or merger (or of any Parent of such surviving entity) that, immediately after the consummation of such consolidation or merger, together possess less than fifty percent (50%) of the total voting power of all voting securities of such surviving entity (or of any of its Parents, if any) that are outstanding immediately after the consummation of such consolidation or merger;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a sale or other transfer by the holders thereof of outstanding voting stock and/or other voting securities of the Company possessing more than fifty percent (50%) of the total voting power of all outstanding voting securities of the Company, whether in one transaction or in a series of related transactions, pursuant to an agreement or agreements to which the Company is a party and that has been approved by the Board, and pursuant to which such outstanding voting securities are sold or transferred to a single person or entity, to one or more persons or entities who are Affiliates of each other, or to one or more persons or entities acting in concert; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the sale, lease, transfer or other disposition, in a single transaction or series of related transactions, by the Company and/or any Subsidiary or Subsidiaries of the Company, of all or substantially all the assets of the Company and its Subsidiaries taken as a whole, (or, if substantially all of the assets of the Company and its Subsidiaries taken as a whole are held by one or more Subsidiaries, the sale or disposition (whether by consolidation, merger, conversion or otherwise) of such Subsidiaries of the Company), except where such sale, lease, transfer or other disposition is made to the Company or one or more wholly owned Subsidiaries of the Company (an "Acquisition by Sale of Assets").

"***Affiliate***" of a specified person means a person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the person specified (where, for purposes of this definition, the term "***control***" (including the terms ***controlling***, ***controlled by*** and ***under common control with***) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise.

"***Award***" means any award pursuant to the terms and conditions of this Plan, including any Option, Restricted Stock Unit, Stock Appreciation Right or Restricted Stock Award.

"***Award Agreement***" means, with respect to each Award, the signed written agreement between the Company and the Participant setting forth the terms and conditions of the Award as approved by the Committee.

"***Board***" means the Board of Directors of the Company.

"***Cause***" means Termination because of (a) Participant's unauthorized misuse of the Company or a Parent or Subsidiary of the Company's trade secrets or proprietary information, (b) Participant's conviction of or plea of nolo contendere to a felony or a crime involving moral turpitude, (c) Participant's committing an act of fraud against the Company or a Parent or Subsidiary of the Company or (d) Participant's gross negligence or willful misconduct in the performance of his or her duties that has had or will have a material adverse effect on the Company or Parent or Subsidiary of the Company' reputation or business.

"***Code***" means the Internal Revenue Code of 1986, as amended.

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"***Committee***" means the committee created and appointed by the Board to administer this Plan, or if no committee is created and appointed, the Board.

"***Common Stock***" means shares of the Company's Class A Common Stock.

"***Company***" means Motive Technologies, Inc., or any successor corporation.

"***Disability***" means a disability, whether temporary or permanent, partial or total, as determined by the Committee.

"***Exchange Act***" means the Securities Exchange Act of 1934, as amended.

"***Exercise Price***" means the price per Share at which a holder of an Option may purchase Shares issuable upon exercise of the Option.

"***Fair Market Value***" means, as of any date, the value of a share of the Company's Common Stock determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;if such Common Stock is then publicly traded on a national securities exchange, its closing price on the date of determination on the principal national securities exchange on which the Common Stock is listed or admitted to trading as reported in The Wall Street Journal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;if such Common Stock is publicly traded but is not listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices on the date of determination as reported by The Wall Street Journal (or, if not so reported, as otherwise reported by any newspaper or other source as the Committee may determine); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;if none of the foregoing is applicable to the valuation in question, by the Committee in good faith.

"***Option***" means an award of an option to purchase Shares pursuant to Section 4 of this Plan.

"***Other Combination***" for purposes of Section 11 means any (a) consolidation or merger in which the Company is a constituent entity and is not the surviving entity of such consolidation or merger or (b) any conversion of the Company into another form of entity; *<u>provided</u>* that such consolidation, merger or conversion does not constitute an Acquisition.

"***Parent***" of a specified entity means, any entity that, either directly or indirectly, owns or controls such specified entity, where for this purpose, "***control***" means the ownership of stock, securities or other interests that possess at least a majority of the voting power of such specified entity (including indirect ownership or control of such stock, securities or other interests).

"***Participant***" means a person who receives an Award under this Plan.

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"***Plan***" means this 2013 Equity Incentive Plan, as amended from time to time.

"***Purchase Price***" means the price at which a Participant may purchase Restricted Stock pursuant to this Plan.

"***Restricted Stock***" means Shares purchased pursuant to a Restricted Stock Award under this Plan.

"***Restricted Stock Award***" means an award of Shares pursuant to Section 5 hereof.

"***Restricted Stock Unit***" or "***RSU***" means an award made pursuant to Section 6 hereof. Securities Act.

"***Rule 701***" means Rule 701 et seq. promulgated by the Commission under the "***SEC***" means the Securities and Exchange Commission.

"***Section 25102(o)***" means Section 25102(o) of the California Corporations Code.

"***Securities Act***" means the Securities Act of 1933, as amended.

"***Shares***" means shares of the Company's Common Stock reserved for issuance under this Plan, as adjusted pursuant to Sections 2.2 and 11 hereof, and any successor security.

"***Stock Appreciation Right***" or "***SAR***" means an award granted pursuant to Section 7 hereof.

"***Subsidiary***" means any entity (other than the Company) in an unbroken chain of entities beginning with the Company if each of the entities other than the last entity in the unbroken chain owns stock or other equity securities representing fifty percent (50%) or more of the total combined voting power of all classes of stock or other equity securities in one of the other entities in such chain.

"***Termination***" or "***Terminated***" means, for purposes of this Plan with respect to a Participant, that the Participant has for any reason ceased to provide services as an employee, officer, director or consultant to the Company or a Parent or Subsidiary of the Company. A Participant will not be deemed to have ceased to provide services while the Participant is on a bona fide leave of absence, if such leave was approved by the Company in writing. In the case of an approved leave of absence, the Committee may make such provisions respecting crediting of service, including suspension of vesting of the Award (including pursuant to a formal policy adopted from time to time by the Company) it may deem appropriate, except that in no event may an Option be exercised after the expiration of the term set forth in the Stock Option Agreement. The Committee will have sole discretion to determine whether a Participant has ceased to provide services and the effective date on which the Participant ceased to provide services (the "***Termination Date***").

"***Unvested Shares***" means "***Unvested Shares***" as defined in the Award Agreement for an Award.

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"***Vested Shares***" means "***Vested Shares***" as defined in the Award Agreement.

\* \* \* \* \* \* \* \* \* \* \*

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***OPTION GRANT NO. <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>***

**<u>NOTICE OF STOCK OPTION GRANT</u>**

**KEEP TRUCKIN, INC.**

**2013 EQUITY INCENTIVE PLAN**

The Optionee named below ("***Optionee***") has been granted an option (this "***Option***") to purchase shares of Common Stock, $0.00001 par value per share (the "***Common Stock***"), of Keep Truckin, Inc., a Delaware corporation (the "***Company***"), pursuant to the Company's 2013 Equity Incentive Plan, as amended from time to time (the "***Plan***") on the terms, and subject to the conditions, described below and in the Stock Option Agreement attached hereto as **<u>Exhibit A</u>**, including its annexes (the "***Stock Option Agreement***").

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| | |
|:---|:---|
| &nbsp;&nbsp;**Optionee:** | |
| &nbsp;&nbsp;**Maximum Number of Shares Subject to this Option (the "*Shares*"):** | |
| &nbsp;&nbsp;**Exercise Price Per Share:** | $<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> per share |
| &nbsp;&nbsp;**Date of Grant:** |  |
| &nbsp;&nbsp;**Vesting Start Date:** |  |
| &nbsp;&nbsp;**Exercise Schedule:** | This Option will become exercisable during its term with respect to portions of the Shares in accordance with the Vesting Schedule set forth below. |
| &nbsp;&nbsp;**Expiration Date:** | The date ten (10) years after the Date of Grant set forth above, subject to earlier expiration in the event of Termination as provided in Section 3 of the Stock Option Agreement. |
| &nbsp;&nbsp;**Tax Status of Option:**<br>**(Check *<u>Only</u>* One Box):** | ☒&nbsp;&nbsp;&nbsp;&nbsp;Incentive Stock Option (*To the fullest extent permitted by the Code*)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nonqualified Stock Option.<br>(*If <u>neither</u> box is checked, this Option is a Nonqualified Stock Option*). |

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**Vesting Schedule [EXAMPLE ONLY]:** For so long as Optionee continuously provides services to the Company (or any Subsidiary or Parent of the Company) as an employee, officer, director, contractor or consultant, this Option will vest (that is, become exercisable) with respect to the Shares as follows: (a) prior to the first one (1) year anniversary of the Vesting Start Date this Option will not be vested or exercisable as to any of the Shares; (b) this Option will become vested and exercisable with respect to [**1/4**<sup>th</sup>**]** of the Shares on the one (1) year anniversary of the Vesting Start Date; and (c) thereafter, this Option will become vested and exercisable with respect to an additional [**1/48**<sup>th</sup>] of the Shares when Optionee completes each month of continuous service following the first one (1) year anniversary of the Vesting Start Date.

**General; Agreement:** By their signatures below, Optionee and the Company agree that this Option is granted under and governed by this Notice of Stock Option Grant (this "***Grant Notice***") and by the provisions of the Plan and the Stock Option Agreement. The Plan and the Stock Option Agreement are incorporated herein by reference. Capitalized terms used but not defined herein shall have the meanings given to them in the Plan or in the Stock Option Agreement, as applicable. By signing below, Optionee acknowledges receipt of a copy of this Grant Notice, the Plan and the Stock Option Agreement, represents that Optionee has carefully read and is familiar with their provisions, and hereby accepts the Option subject to all of their respective terms and conditions. Optionee acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the Shares and that Optionee should consult a tax adviser prior to such exercise or disposition.

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**Execution and Delivery:** This Grant Notice may be executed and delivered electronically whether via the Company's intranet or the Internet site of a third party or via email or any other means of electronic delivery specified by the Company. By Optionee's acceptance hereof (whether written, electronic or otherwise), Optionee agrees, to the fullest extent permitted by law, that in lieu of receiving documents in paper format, Optionee accepts the electronic delivery of any documents that the Company (or any third party the Company may designate), may deliver in connection with this grant (including the Plan, this Grant Notice, the Stock Option Agreement, the information described in Rules 701(e)(2), (3), (4) and (5) under the Securities Act (the "***701 Disclosures***"), account statements, or other communications or information) whether via the Company's intranet or the Internet site of such third party or via email or such other means of electronic delivery specified by the Company.

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| | |
|:---|:---|
| **KEEP TRUCKIN, INC.** | |
| By /Signature: | Optionee Signature: |
| Typed Name: | Optionee's Name: |
| Title: | |

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**ATTACHMENT**:&nbsp;&nbsp;&nbsp;&nbsp;Exhibit A – Stock Option Agreement

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**<u>Exhibit A</u>**

**Stock Option Agreement**

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<u>EXHIBIT A</u>

**<u>STOCK OPTION AGREEMENT</u>**

**KEEP TRUCKIN, INC.**

**2013 EQUITY INCENTIVE PLAN**

This Stock Option Agreement (this "***Agreement***") is made and entered into as of the date of grant (the "***Date of Grant***") set forth on the Notice of Stock Option Grant attached as the facing page to this Agreement (the "***Grant Notice***") by and between Keep Truckin, Inc., a Delaware corporation (the "***Company***"), and the optionee named on the Grant Notice (the "***Optionee***"). Capitalized terms not defined in this Agreement shall have the meaning ascribed to them in the Company's 2013 Equity Incentive Plan, as amended from time to time (the "***Plan***"), or in the Grant Notice, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;GRANT OF OPTION.** The Company hereby grants to Optionee an option (this "***Option***") to purchase up to the total number of shares of Common Stock of the Company, $0.00001 par value per share (the "***Common Stock***"), set forth in the Grant Notice as the Shares (the "***Shares***") at the Exercise Price Per Share set forth in the Grant Notice (the "***Exercise Price***"), subject to all of the terms and conditions of the Grant Notice, this Agreement and the Plan. If designated as an Incentive Stock Option in the Grant Notice, this Option is intended to qualify as an incentive stock option (the "***ISO***") within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "***Code***"), except that if on the Date of Grant Optionee is not subject to U.S. income tax, then this Option shall be a NQSO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;EXERCISE PERIOD.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise Period of Option</u>.** This Option is considered to be "vested" with respect to any particular Shares when this Option is exercisable with respect to such Shares. This Option will become vested during its term as to portions of the Shares in accordance with the Vesting Schedule set forth in the Grant Notice. Notwithstanding any provision in the Plan or this Agreement to the contrary, on or after Optionee's Termination Date, this Option may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting of Option Shares</u>.** Shares with respect to which this Option is vested and exercisable at a given time pursuant to the Vesting Schedule set forth in the Grant Notice are "***Vested Shares***.*"* Shares with respect to which this Option is not vested and exercisable at a given time pursuant to the Vesting Schedule set forth in the Grant Notice are *"****Unvested Shares***.*"*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Expiration</u>.** The Option shall expire on the Expiration Date set forth in the Grant Notice or earlier as provided in Section 3 below.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;TERMINATION.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination for Any Reason Except Death, Disability or Cause</u>.** Except as provided in subsection 3.2 in a case in which Optionee dies within three (3) months after Optionee is Terminated other than for Cause, if Optionee is Terminated for any reason (other than Optionee's death or Disability or for Cause), then (a) on and after Optionee's Termination Date, this Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date and (b) this Option to the extent (and only to the extent) that it is exercisable with respect to Vested Shares on Optionee's Termination Date, may be exercised by Optionee no later than three (3) months after Optionee's Termination Date (but in no event may this Option be exercised after the Expiration Date).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination Because of Death or Disability</u>.** If Optionee is Terminated because of Optionee's death or Disability (or if Optionee dies within three (3) months of the date of Optionee's Termination for any reason other than for Cause), then (a) on and after Optionee's Termination Date, this Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date and (b) this Option, to the extent (and only to the extent) that it is exercisable with respect to Vested Shares on Optionee's Termination Date, may be exercised by Optionee (or Optionee's legal representative) no later than twelve (12) months after Optionee's Termination Date, but in no event later than the Expiration Date. Any exercise of this Option beyond (i) three (3) months after the date Optionee ceases to be an employee when Optionee's Termination is for any reason other than Optionee's death or disability, within the meaning of Section 22(e)(3) of the Code; or (ii) twelve (12) months after the date Optionee ceases to be an employee when the termination is for Optionee's disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be an NQSO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination for Cause</u>.** If Optionee is Terminated for Cause, then Optionee may exercise this Option, but only with respect to any Shares that are Vested Shares on Optionee's Termination Date, and this Option shall expire on Optionee's Termination Date, or at such later time and on such conditions as may be affirmatively determined by the Committee. On and after Optionee's Termination Date, this Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>No Obligation to Employ</u>.** Nothing in the Plan or this Agreement shall confer on Optionee any right to continue in the employ of, or other relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Optionee's employment or other relationship at any time, with or without Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;MANNER OF EXERCISE.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Option Exercise Notice and Agreement</u>.** To exercise this Option, Optionee (or in the case of exercise after Optionee's death or incapacity, Optionee's executor,

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administrator, heir or legatee, as the case may be) must deliver to the Company an executed Stock Option Exercise Notice and Agreement in the form attached hereto as <u>Annex A</u>, or in such other form as may be approved by the Committee from time to time (the "***Exercise Agreement***") and payment for the shares being purchased in accordance with this Agreement. The Exercise Agreement shall set forth, among other things, (i) Optionee's election to exercise this Option, (ii) the number of Shares being purchased, (iii) any representations, warranties and agreements regarding Optionee's investment intent and access to information as may be required by the Company to comply with applicable securities laws in connection with any exercise of this Option, (iv) any other agreements required by the Company and (v) Optionee's obligation to execute and deliver certain Stock Powers and Assignments Separate from Stock Certificate to the Company. If someone other than Optionee exercises this Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise this Option and such person shall be subject to all of the restrictions contained herein as if such person were Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations on Exercise</u>.** This Option may not be exercised unless such exercise is in compliance with all applicable federal, state and foreign securities laws, as they are in effect on the date of exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment</u>.** The Exercise Agreement shall be accompanied by full payment of the Exercise Price for the shares being purchased in cash (by check or wire transfer), or where permitted by law:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;by cancellation of indebtedness of the Company owed to Optionee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;by surrender of shares of the Company that are free and clear of all security interests, pledges, liens, claims or encumbrances and: (i) for which the Company has received "full payment of the purchase price" within the meaning of SEC Rule 144 (and, if such shares were purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares) or (ii) that were obtained by Optionee in the public market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;by participating in a formal cashless exercise program implemented by the Committee in connection with the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;provided that a public market for the Common Stock exists and subject to compliance with applicable law, by exercising as set forth below, through a "same day sale" commitment from Optionee and a broker-dealer whereby Optionee irrevocably elects to exercise this Option and to sell a portion of the Shares so purchased sufficient to pay the total Exercise Price, and whereby the broker-dealer irrevocably commits upon receipt of such Shares to forward the total Exercise Price directly to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;by any combination of the foregoing or any other method of payment approved by the Committee that constitutes legal consideration for the issuance of Shares.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Withholding</u>.** Prior to the issuance of the Shares upon exercise of the Option, Optionee must pay or provide for any applicable federal, state, foreign and local withholding obligations of the Company. If the Committee permits, Optionee may provide for payment of withholding taxes upon exercise of the Option by requesting that the Company retain the minimum number of Shares with a Fair Market Value equal to the minimum amount of taxes required to be withheld; or to arrange a mandatory "sell to cover" on Participant's behalf (without further authorization); but in no event will the Company withhold Shares or "sell to cover" if such withholding would result in adverse accounting consequences to the Company. In case of stock withholding or a sell to cover, the Company shall issue the net number of Shares to the Optionee by deducting the Shares retained from the Shares issuable upon exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Shares</u>.** Provided that the Exercise Agreement and payment are in form and substance satisfactory to counsel for the Company, the Company shall issue the Shares issuable upon a valid exercise of this Option registered in the name of Optionee, Optionee's authorized assignee, or Optionee's legal representative, and shall deliver certificates representing the Shares with the appropriate legends affixed thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;COMPLIANCE WITH LAWS AND REGULATIONS.** The Plan and this Agreement are intended to comply with Section 25102(o) and Rule 701. Any provision of this Agreement that is inconsistent with Section 25102(o) or Rule 701 shall, without further act or amendment by the Company or the Committee, be reformed to comply with the requirements of Section 25102(o) and/or Rule 701. The exercise of this Option and the issuance and transfer of Shares shall be subject to compliance by the Company and Optionee with all applicable requirements of federal, state and foreign securities laws and with all applicable requirements of any stock exchange on which the Common Stock may be listed at the time of such issuance or transfer. Optionee understands that the Company is under no obligation to register or qualify the Shares with the SEC, any state or foreign securities commission or any stock exchange to effect such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;NONTRANSFERABILITY OF OPTION.** This Option may not be transferred in any manner other than by will or by the laws of descent and distribution, and, with respect to NQSOs, by instrument to a testamentary trust in which the options are to be passed to beneficiaries upon the death of the trustor (settlor) or a revocable trust, or by gift to "immediate family" as that term is defined in 17 C.F.R. 240.16a-1(e), and may be exercised during the lifetime of Optionee only by Optionee or in the event of Optionee's incapacity, by Optionee's legal representative. The terms of this Option shall be binding upon the executors, administrators, successors and assigns of Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIONS ON TRANSFER.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Disposition of Shares</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Optionee hereby agrees that Optionee shall not sell, transfer, assign, pledge, or otherwise dispose of or encumber any of the Shares or any right or interest therein, whether voluntarily or by operation of law, or by gift or otherwise (each, a "***Transfer***") without the prior written consent of the Company, upon duly authorized action of its Board. The

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Company may withhold consent for any legitimate corporate purpose, as determined by the Board. Examples of the basis for the Company to withhold its consent include, without limitation, (i) if such Transfer to individuals, companies or any other form of entity identified by the Company as a potential competitor or considered by the Company to be unfriendly; or (ii) if such Transfer increases the risk of the Company having a class of security held of record by 2,000 or more persons, or 500 or more persons who are not accredited investors (as such term is defined by the U.S. Securities and Exchange Commission (the "***SEC***")), as described in Section 12(g) of the 1934 Act and any related regulations, or otherwise requiring the Company to register any class of securities under the 1934 Act; or (iii) if such Transfer would result in the loss of any federal or state securities law exemption relied upon by the Company in connection with the initial issuance of such shares or the issuance of any other securities; or (iv) if such Transfer is facilitated in any manner by any public posting, message board, trading portal, internet site, or similar method of communication, including without limitation any trading portal or internet site intended to facilitate secondary transfers of securities; or (v) if such Transfer is to be effected in a brokered transaction; or (vi) if such Transfer represents a Transfer of less than all of the shares then held by the stockholder and its affiliates or is to be made to more than a single transferee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If Optionee desires to Transfer any Shares, then Optionee will first give written notice to the Company. The notice must name the proposed transferee and state the number of Shares to be transferred, the proposed consideration, and all other terms and conditions of the proposed transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;At the option of the Company, Optionee will be obligated to pay to the Company a reasonable transfer fee related to the costs and time of the Company and its legal and other advisors related to any proposed Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Optionee shall have provided the Company with written assurances, in form and substance satisfactory to counsel for the Company, that (i) the proposed disposition does not require registration of the Shares under the 1934 Act or under any state or foreign securities laws, and (ii) all appropriate actions necessary for compliance with the registration and qualification requirements of the 1934 Act and any state or foreign securities laws, or of any exemption from registration or qualification, available thereunder (including Rule 144) have been taken.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Optionee shall have provided the Company with written assurances, in form and substance satisfactory to the Company, that the proposed disposition will not result in the contravention of any transfer restrictions applicable to the Shares pursuant to the provisions of the regulations promulgated under Section 25102(o), Rule 701 or under any other applicable securities laws or adversely affect the Company's ability to rely on the exemption(s) from registration under the Securities Act or under any other applicable securities laws for the grant of the Option, the issuance of Shares thereunder or any other issuance of securities under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Any Transfer, or purported Transfer, of Shares not made in strict compliance with this Section will be null and void, will not be recorded on the books of the Company and will not be recognized by the Company.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;The foregoing restriction on Transfer will terminate upon the date securities of the Company are first offered to the public pursuant to a registration statement filed with, and declared effective by, the SEC under the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Optionee further acknowledges that the Shares are subject to the Company's bylaws, as may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferee Obligations</u>.** Each person (other than the Company) to whom the Shares are transferred by means of one of the permitted transfers specified in this Agreement must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Company that such person is bound by the provisions of this Agreement and that the transferred Shares are subject to (i) the Company's Right of First Refusal granted hereunder and (ii) the market stand-off provisions of Section 8 below, to the same extent such Shares would be so subject if retained by Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.&nbsp;&nbsp;&nbsp;&nbsp;MARKET STANDOFF AGREEMENT.** Optionee agrees that, subject to any early release provisions that apply pro rata to stockholders of the Company according to their holdings of Common Stock (determined on an as-converted into Common Stock basis), Optionee will not, if requested by the managing underwriter(s) in the initial underwritten sale of Common Stock of the Company to the public pursuant to a registration statement filed with, and declared effective by, the SEC under the Securities Act (the "***IPO***"), for a period of up to one hundred eighty (180) days following the effective date of the registration statement relating to such IPO, directly or indirectly sell, offer to sell, grant any option for the sale of, or otherwise dispose of any Common Stock or securities convertible into Common Stock, <u>except</u> <u>for:</u> (i) transfers of Shares permitted under Section 9.6 hereof so long as such transferee furnishes to the Company and the managing underwriter their written consent to be bound by this Section 8 as a condition precedent to such transfer; and (ii) sales of any securities to be included in the registration statement for the IPO. For the avoidance of doubt, the provisions of this Section shall only apply to the IPO. The restricted period shall in any event terminate two (2) years after the closing date of the IPO. In order to enforce the foregoing covenant, the Company shall have the right to place restrictive legends on the certificates representing the Shares subject to this Section and to impose stop transfer instructions with respect to the Shares until the end of such period. Optionee further agrees to enter into any agreement reasonably required by the underwriters to implement the foregoing restrictions on transfer. For the avoidance of doubt, the foregoing provisions of this Section shall not apply to any registration of securities of the Company (a) under an employee benefit plan or (b) in a merger, consolidation, business combination or similar transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.&nbsp;&nbsp;&nbsp;&nbsp;COMPANY'S RIGHT OF FIRST REFUSAL.** Subject to Section 7, before any Shares held by Optionee or any transferee of such Shares (either sometimes referred to herein as the "***Holder"***) may be sold or otherwise transferred (including, without limitation, a transfer by gift or operation of law), the Company and/or its assignee(s) will have a right of first refusal to purchase the Shares to be sold or transferred (the "***Offered Shares"***) on the terms and conditions set forth in this Section (the "***Right of First Refusal"***).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Proposed Transfer</u>.** The Holder of the Offered Shares will deliver to the Company a written notice (the "***Notice****"*) stating: (i) the Holder's bona fide

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intention to sell or otherwise transfer the Offered Shares; (ii) the name and address of each proposed purchaser or other transferee (the "***Proposed Transferee****"*); (iii) the number of Offered Shares to be transferred to each Proposed Transferee; (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Offered Shares (the "***Offered Price****"*); and (v) that the Holder acknowledges this Notice is an offer to sell the Offered Shares to the Company and/or its assignee(s) pursuant to the Company's Right of First Refusal at the Offered Price as provided for in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of Right of First Refusal</u>.** At any time within thirty (30) days after the date of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all (or, with the consent of the Holder, less than all) the Offered Shares proposed to be transferred to any one or more of the Proposed Transferees named in the Notice, at the purchase price, determined as specified below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase Price</u>.** The purchase price for the Offered Shares purchased under this Section will be the Offered Price, *provided* that if the Offered Price consists of no legal consideration (as, for example, in the case of a transfer by gift) then the purchase price will be the fair market value of the Offered Shares as determined in good faith by the Committee. If the Offered Price includes consideration other than cash, then the value of the non-cash consideration, as determined in good faith by the Committee, will conclusively be deemed to be the cash equivalent value of such non-cash consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment</u>.** Payment of the purchase price for the Offered Shares will be payable, at the option of the Company and/or its assignee(s) (as applicable), by check or by cancellation of all or a portion of any outstanding purchase money indebtedness owed by the Holder to the Company (or to such assignee, in the case of a purchase of Offered Shares by such assignee) or by any combination thereof. The purchase price will be paid without interest within sixty (60) days after the Company's receipt of the Notice, or, at the option of the Company and/or its assignee(s), in the manner and at the time(s) set forth in the Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Holder's Right to Transfer</u>.** If all of the Offered Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section, then the Holder may sell or otherwise transfer such Offered Shares to each Proposed Transferee at the Offered Price or at a higher price, *provided* that (i) such sale or other transfer is consummated within ninety (90) days after the date of the Notice, (ii) any such sale or other transfer is effected in compliance with all applicable securities laws, and (iii) each Proposed Transferee agrees in writing that the provisions of this Section will continue to apply to the Offered Shares in the hands of such Proposed Transferee. If the Offered Shares described in the Notice are not transferred to each Proposed Transferee within such ninety (90) day period, then a new Notice must be given to the Company pursuant to which the Company will again be offered the Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Exempt Transfers</u>.** Notwithstanding anything to the contrary in this Section, the following transfers of Shares will be exempt from the Right of First Refusal: (i) the transfer of any or all of the Shares during Optionee's lifetime by gift or on Optionee's death by

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will or intestacy to any member(s) of Optionee's "Immediate Family" (as defined below) or to a trust for the benefit of Optionee and/or member(s) of Optionee's Immediate Family, *provided* that each transferee or other recipient agrees in a writing satisfactory to the Company that the provisions of this Section will continue to apply to the transferred Shares in the hands of such transferee or other recipient; (ii) any transfer of Shares made pursuant to a statutory merger, statutory consolidation of the Company with or into another corporation or corporations or a conversion of the Company into another form of legal entity (except that the Right of First Refusal will continue to apply thereafter to such Shares, in which case the surviving corporation of such merger or consolidation or the resulting entity of such conversion shall succeed to the rights of the Company under this Section unless the agreement of merger or consolidation or conversion expressly otherwise provides); or (iii) any transfer of Shares pursuant to the winding up and dissolution of the Company. As used herein, the term "***Immediate Family****"* will mean Optionee's spouse, the lineal descendant or antecedent, father, mother, brother or sister, child, adopted child, grandchild or adopted grandchild of Optionee or Optionee's spouse, or the spouse of any of the above or Spousal Equivalent, as defined herein. As used herein, a person is deemed to be a "***Spousal Equivalent***" provided the following circumstances are true: (i) irrespective of whether or not the Optionee and the Spousal Equivalent are the same sex, they are the sole spousal equivalent of the other for the last twelve (12) months, (ii) they intend to remain so indefinitely, (iii) neither are married to anyone else, (iv) both are at least 18 years of age and mentally competent to consent to contract, (v) they are not related by blood to a degree of closeness that which would prohibit legal marriage in the state or foreign jurisdiction in which they legally reside, (vi) they are jointly responsible for each other's common welfare and financial obligations, and (vii) they reside together in the same residence for the last twelve (12) months and intend to do so indefinitely.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Right of First Refusal</u>.** The Right of First Refusal will terminate as to all Shares: (i) on the effective date of the first sale of Common Stock of the Company to the general public pursuant to a registration statement filed with and declared effective by the SEC under the Securities Act (other than a registration statement relating solely to the issuance of Common Stock pursuant to a business combination or an employee incentive or benefit plan); (ii) on any transfer or conversion of Shares made pursuant to a statutory merger or statutory consolidation of the Company with or into another corporation or corporations if the common stock of the surviving corporation or any direct or indirect parent corporation thereof is registered under the Exchange Act; or (iii) on any transfer or conversion of Shares made pursuant to a statutory conversion of the Company into another form of legal entity if the common equity (or comparable equity security) of entity resulting from such conversion is registered under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Encumbrances on Shares</u>.** Optionee may grant a lien or security interest in, or pledge, hypothecate or encumber Shares only if each party to whom such lien or security interest is granted, or to whom such pledge, hypothecation or other encumbrance is made, agrees in a writing satisfactory to the Company that: (i) such lien, security interest, pledge, hypothecation or encumbrance will not adversely affect or impair the Right of First Refusal or the rights of the Company and/or its assignee(s) with respect thereto and will not apply to such Shares after they are acquired by the Company and/or its assignees under this Section; and (ii)

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the provisions of this Agreement will continue to apply to such Shares in the hands of such party and any transferee of such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.&nbsp;&nbsp;&nbsp;&nbsp;RIGHTS AS A STOCKHOLDER.** Optionee shall not have any of the rights of a stockholder with respect to any Shares unless and until such Shares are issued to Optionee. Subject to the terms and conditions of this Agreement, Optionee will have all of the rights of a stockholder of the Company with respect to the Shares from and after the date that Shares are issued to Optionee pursuant to, and in accordance with, the terms of the Exercise Agreement until such time as Optionee disposes of the Shares or the Company and/or its assignee(s) exercise(s) the Right of First Refusal. Upon an exercise of the Right of First Refusal, Optionee will have no further rights as a holder of the Shares so purchased upon such exercise, other than the right to receive payment for the Shares so purchased in accordance with the provisions of this Agreement, and Optionee will promptly surrender the stock certificate(s) evidencing the Shares so purchased to the Company for transfer or cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.&nbsp;&nbsp;&nbsp;&nbsp;ESCROW.** As security for Optionee's faithful performance of this Agreement, Optionee agrees, immediately upon receipt of the stock certificate(s) evidencing the Shares, to deliver such certificate(s), together with two (2) copies of a blank Stock Power and Assignment Separate from Stock Certificate in the form attached to the Exercise Agreement (the "***Stock Powers***"), both executed by Optionee (and Optionee's spouse, if any) (with the transferee, certificate number, date and number of Shares left blank), to the Secretary of the Company or other designee of the Company (the "***Escrow Holder***"), who is hereby appointed to hold such certificate(s) and Stock Powers in escrow and to take all such actions and to effectuate all such transfers and/or releases of such Shares as are in accordance with the terms of this Agreement. Optionee and the Company agree that Escrow Holder will not be liable to any party to this Agreement (or to any other party) for any actions or omissions unless Escrow Holder is grossly negligent or intentionally fraudulent in carrying out the duties of Escrow Holder under this Agreement. Escrow Holder may rely upon any letter, notice or other document executed with any signature purported to be genuine and may rely on the advice of counsel and obey any order of any court with respect to the transactions contemplated by this Agreement and will not be liable for any act or omission taken by Escrow Holder in good faith reliance on such documents, the advice of counsel or a court order. The Shares will be released from escrow upon termination of the Right of First Refusal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIVE LEGENDS AND STOP-TRANSFER ORDERS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>.** Optionee understands and agrees that the Company will place the legends set forth below or similar legends on any stock certificate(s) evidencing the Shares, together with any other legends that may be required by state, federal or foreign securities laws, the Company's Certificate of Incorporation or Bylaws, any other agreement between Optionee and the Company, or any agreement between Optionee and any third party (and any other legend(s) that the Company may become obligated to place on the stock certificate(s) evidencing

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the Shares under the terms of any agreement to which the Company is or may become bound or obligated):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND APPLICABLE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON RESALE AND TRANSFER, INCLUDING THE RIGHT OF FIRST REFUSAL HELD BY THE ISSUER AND/OR ITS ASSIGNEE(S) AS SET FORTH IN A STOCK OPTION AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH SALE AND TRANSFER RESTRICTIONS, INCLUDING THE RIGHT OF FIRST REFUSAL, ARE BINDING ON TRANSFEREES OF THESE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A MARKET STANDOFF RESTRICTION AS SET FORTH IN A CERTAIN STOCK OPTION AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT, THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS AFTER THE EFFECTIVE DATE OF CERTAIN PUBLIC OFFERINGS OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES OF THESE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Stop-Transfer Instructions</u>.** Optionee agrees that, to ensure compliance with the restrictions imposed by this Agreement, the Company may issue appropriate "stop-transfer" instructions to its transfer agent, if any, and if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Refusal to Transfer</u>.** The Company will not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares, or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares have been so transferred.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.&nbsp;&nbsp;&nbsp;&nbsp;CERTAIN TAX CONSEQUENCES.** Set forth below is a brief summary as of the Effective Date of the Plan of some of the federal tax consequences of exercise of the Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of ISO</u>.** If the Option qualifies as an ISO, there will be no regular federal income tax liability upon the exercise of the Option, although the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price will be treated as a tax preference item for federal alternative minimum tax purposes and may subject the Optionee to the alternative minimum tax in the year of exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of Nonqualified Stock Option</u>.** If the Option does not qualify as an ISO, there may be a regular federal income tax liability upon the exercise of the Option. Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. If Optionee is a current or former employee of the Company, the Company may be required to withhold from Optionee's compensation or collect from Optionee and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income at the time of exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Disposition of Shares</u>.** The following tax consequences may apply upon disposition of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Incentive Stock Options</u>. If the Shares are held for more than twelve (12) months after the date of purchase of the Shares pursuant to the exercise of an ISO and are disposed of more than two (2) years after the Date of Grant, any gain realized on disposition of the Shares will be treated as long term capital gain for federal income tax purposes. If Shares purchased under an ISO are disposed of within the applicable one (1) year or two (2) year period, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates in the year of the disposition) to the extent of the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Nonqualified Stock Options</u>. If the Shares are held for more than twelve (12) months after the date of purchase of the Shares pursuant to the exercise of an NQSO, any gain realized on disposition of the Shares will be treated as long term capital gain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.&nbsp;&nbsp;&nbsp;&nbsp;GENERAL PROVISIONS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation</u>.** Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or the Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Optionee.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>.** The Plan, the Grant Notice and the Exercise Agreement are each incorporated herein by reference. This Agreement, the Grant Notice, the Plan and the Exercise Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all prior undertakings and agreements with respect to such subject matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.&nbsp;&nbsp;&nbsp;&nbsp;NOTICES.** Any and all notices required or permitted to be given to a party pursuant to the provisions of this Agreement will be in writing and will be effective and deemed to provide such party sufficient notice under this Agreement on the earliest of the following: (i) at the time of personal delivery, if delivery is in person; (ii) at the time an electronic confirmation of receipt is received, if delivery is by email; (iii) at the time of transmission by facsimile, addressed to the other party at its facsimile number specified herein (or hereafter modified by subsequent notice to the parties hereto), with confirmation of receipt made by both telephone and printed confirmation sheet verifying successful transmission of the facsimile; (iv) one (1) business day after deposit with an express overnight courier for United States deliveries, or two (2) business days after such deposit for deliveries outside of the United States, with proof of delivery from the courier requested; or (v) three (3) business days after deposit in the United States mail by certified mail (return receipt requested) for United States deliveries. Any notice for delivery outside the United States will be sent by email, facsimile or by express courier. Any notice not delivered personally or by email will be sent with postage and/or other charges prepaid and properly addressed to Optionee at the last known address or facsimile number on the books of the Company, or at such other address or facsimile number as such other party may designate by one of the indicated means of notice herein to the other parties hereto or, in the case of the Company, to it at its principal place of business. Notices to the Company will be marked "Attention: Chief Financial Officer." Notices by facsimile shall be machine verified as received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.&nbsp;&nbsp;&nbsp;&nbsp;SUCCESSORS AND ASSIGNS.** The Company may assign any of its rights under this Agreement including its rights to purchase Shares under the Right of First Refusal. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Optionee and Optionee's heirs, executors, administrators, legal representatives, successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING LAW.** This Agreement shall be governed by and construed in accordance with the internal laws of the State of California as such laws are applied to agreements between California residents entered into and to be performed entirely within California. If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.&nbsp;&nbsp;&nbsp;&nbsp;FURTHER ASSURANCES.** The parties agree to execute such further documents and instruments and to take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.&nbsp;&nbsp;&nbsp;&nbsp;TITLES AND HEADINGS.** The titles, captions and headings of this Agreement are included for ease of reference only and will be disregarded in interpreting or construing this

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Agreement. Unless otherwise specifically stated, all references herein to "sections" and "exhibits" will mean "sections" and "exhibits" to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.&nbsp;&nbsp;&nbsp;&nbsp;COUNTERPARTS.** This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together shall constitute one and the same agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.&nbsp;&nbsp;&nbsp;&nbsp;SEVERABILITY.** If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement. Notwithstanding the forgoing, if the value of this Agreement based upon the substantial benefit of the bargain for any party is materially impaired, which determination as made by the presiding court or arbitrator of competent jurisdiction shall be binding, then both parties agree to substitute such provision(s) through good faith negotiations.

\* \* \* \* \*

**Attachment:** <u>Annex A</u>: Form of Stock Option Exercise Notice and Agreement

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**<u>Annex A</u>**

**FORM OF STOCK OPTION EXERCISE NOTICE AND AGREEMENT**

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**<u>STOCK OPTION EXERCISE NOTICE AND AGREEMENT</u>**

**KEEP TRUCKIN, INC.**

**2013 EQUITY INCENTIVE PLAN**

**\*<u>NOTE</u>: *You <u>must</u> sign this Notice on Page 3 before submitting it to Keep Truckin, Inc. (the "Company")*.**

**OPTIONEE INFORMATION:** *Please provide the following information about yourself ("****Optionee****"):*

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| | |
|:---|:---|
| Name: | Social Security Number: |
| Address: | Employee Number: |

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**OPTION INFORMATION:** *Please provide this information on the option being exercised (the "****Option****")*:

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| | |
|:---|:---|
| Grant No. |  |
| Date of Grant: | Type of Stock Option: |
| Option Price per Share: $<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | □ Nonqualified (NQSO) |
| Total number of shares of Common Stock of the Company subject to the Option: | □ Incentive (ISO) |

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**EXERCISE INFORMATION:**

Number of shares of Common Stock of the Company for which the Option is now being exercised [<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>]. (These shares are referred to below as the "***Purchased Shares***.")

Total Exercise Price Being Paid for the Purchased Shares: $<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Form of payment enclosed ***[check all that apply]***:

□&nbsp;&nbsp;&nbsp;&nbsp;Check for $<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> , payable to "***Keep Truckin, Inc.***."

□&nbsp;&nbsp;&nbsp;&nbsp;Certificate(s) for <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> shares of Common Stock of the Company. These shares will be valued as of the date this notice is received by the Company. ***[Requires Company consent.]***

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**AGREEMENTS, REPRESENTATIONS AND ACKNOWLEDGMENTS OF OPTIONEE**: By signing this Stock Option Exercise Notice and Agreement, Optionee hereby agrees with, and represents to, the Company as follows:

**1. Terms Governing.** I acknowledge and agree with the Company that I am acquiring the Purchased Shares by exercise of this Option subject to all other terms and conditions of the Notice of Stock Option Grant and the Stock Option Agreement that govern the Option, including without limitation the terms of the Company's 2013 Equity Incentive Plan, as it may be amended (the "***Plan***").

**2. Investment Intent; Securities Law Restrictions.** I represent and warrant to the Company that I am acquiring and will hold the Purchased Shares for investment for my account only, and not with a view to, or for resale in connection with, any "distribution" of the Purchased Shares within the meaning of the Securities Act of 1933, as amended (the "***Securities Act***"). I understand that the Purchased Shares have not been registered under the Securities Act by reason of a specific exemption from such registration requirement and that the Purchased Shares must be held by me indefinitely, unless they are subsequently registered under the Securities Act or I obtain an opinion of counsel (in form and substance satisfactory to the Company and its counsel) that registration is not required. I acknowledge that the Company is under no obligation to register the Purchased Shares under the Securities Act or under any other securities law.

**3. Restrictions on Transfer: Rule 144.** I will not sell, transfer or otherwise dispose of the Purchased Shares in violation of the Securities Act, the Securities Exchange Act of 1934, or the rules promulgated thereunder (including Rule 144 under the Securities Act described below "Rule 144")) or of any other applicable securities laws. I am aware of Rule 144, which permits limited public resales of securities acquired in a non-public offering, subject to satisfaction of certain conditions, which include (without limitation) that: (a) certain current public information about the Company is available; (b) the resale occurs only after the holding period required by Rule 144 has been met; (c) the sale occurs through an unsolicited "broker's transaction"; and (d) the amount of securities being sold during any three-month period does not exceed specified limitations. I understand that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company has no plans to satisfy these conditions in the foreseeable future.

**4. Access to Information; Understanding of Risk in Investment.** I acknowledge that I have received and had access to such information as I consider necessary or appropriate for deciding whether to invest in the Purchased Shares and that I had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the issuance of the Purchased Shares. I am aware that my investment in the Company is a speculative investment that has limited liquidity and is subject to the risk of complete loss. I am able, without impairing my financial condition, to hold the Purchased Shares for an indefinite period and to suffer a complete loss of my investment in the Purchased Shares.

**5. Rights of First Refusal; Market Stand-off.** I acknowledge that the Purchased Shares remain subject to the Company's Right of First Refusal and the market stand-off covenants

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(sometimes referred to as the "lock-up"), all in accordance with the applicable Notice of Stock Option Grant and the Stock Option Agreement that govern the Option.

**6. Form of Ownership.** I acknowledge that the Company has encouraged me to consult my own adviser to determine the form of ownership of the Purchased Shares that is appropriate for me. In the event that I choose to transfer my Purchased Shares to a trust, I agree to sign a Stock Transfer Agreement. In the event that I choose to transfer my Purchased Shares to a trust that is not an eligible revocable trust, I also acknowledge that the transfer will be treated as a "disposition" for tax purposes. As a result, the favorable ISO tax treatment will be unavailable and other unfavorable tax consequences may occur.

**7. Investigation of Tax Consequences.** I acknowledge that the Company has encouraged me to consult my own adviser to determine the tax consequences of acquiring the Purchased Shares at this time.

**8. Other Tax Matters.** I agree that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner that minimizes my tax liabilities. I will not make any claim against the Company or its Board, officers or employees related to tax liabilities arising from my options or my other compensation. In particular, I acknowledge that my options (including the Option) are exempt from section 409A of the Internal Revenue Code only if the exercise price per share is at least equal to the fair market value per share of the Common Stock at the time the option was granted by the Board. Since shares of the Common Stock are not traded on an established securities market, the determination of their fair market value was made by the Board and/or by an independent valuation firm retained by the Company. I acknowledge that there is no guarantee in either case that the Internal Revenue Service will agree with the valuation, and I will not make any claim against the Company or its Board, officers or employees in the event that the Internal Revenue Service asserts that the valuation was too low.

**9. Spouse Consent.** I agree to seek the consent of my spouse to the extent required by the Company to enforce the foregoing.

**10. Tax Withholding.** As a condition of exercising this Option, I agree to make adequate provision for foreign, federal, state or other tax withholding obligations, if any, which arise upon the grant, vesting or exercise of this Option, or disposition of the Purchased Shares, whether by withholding, direct payment to the Company, or otherwise.

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The undersigned hereby executes and delivers this Stock Option Exercise Notice and Agreement to agrees to be bound by its terms

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| | |
|:---|:---|
| **SIGNATURE:** | **DATE:** |
| Optionee's Name: | |

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**[Signature Page to Stock Option Exercise Notice and Agreement]**

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*OPTION GRANT NO.*<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

**<u>NOTICE OF STOCK OPTION GRANT</u>**

**KEEP TRUCKIN, INC.**

**2013 EQUITY INCENTIVE PLAN - INTERNATIONAL**

The Optionee named below ("***Optionee***") has been granted an option (this "***Option***") to purchase shares of Common Stock, $0.00001 par value per share (the "***Common Stock***"), of Keep Truckin, Inc., a Delaware corporation (the "***Company***"), pursuant to the Company's 2013 Equity Incentive Plan, as amended from time to time (the "***Plan***") on the terms, and subject to the conditions, described below and in the Stock Option Agreement attached hereto as **<u>Exhibit A</u>** (including any special terms and conditions for the Optionee's country set forth in the attached appendix (the "***Appendix***")), including its annexes (the "***Stock Option Agreement***").

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| | |
|:---|:---|
| &nbsp;&nbsp;**Optionee:** | |
| &nbsp;&nbsp;**Maximum Number of Shares Subject to this Option (the "*Shares*"):** | |
| &nbsp;&nbsp;**Exercise Price Per Share:** | US$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> per share |
| &nbsp;&nbsp;**Date of Grant:** |  |
| &nbsp;&nbsp;**Vesting Start Date:** |  |
| &nbsp;&nbsp;**Exercise Schedule:** | This Option will become exercisable during its term with respect to portions of the Shares in accordance with the Vesting Schedule set forth below. |
| &nbsp;&nbsp;**Expiration Date:** | The date ten (10) years after the Date of Grant set forth above, subject to earlier expiration in the event of Termination as provided in Section 3 of the Stock Option Agreement (including the Appendix). |
| &nbsp;&nbsp;**Tax Status of Option:** | Nonqualified Stock Option. |

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**Vesting Schedule [EXAMPLE ONLY]:** For so long as Optionee continuously provides services to the Company (or any Subsidiary or Parent of the Company (an "***Affiliate***")) as an employee, officer, director, contractor or consultant, this Option will vest (that is, become exercisable) with respect to the Shares as follows: (a) prior to the first one (1) year anniversary of the Vesting Start Date this Option will not be vested or exercisable as to any of the Shares; (b) this Option will become vested and exercisable with respect to [**1/4**<sup>th</sup>**]** of the Shares on the one (1) year anniversary of the Vesting Start Date; and (c) thereafter, this Option will become vested and exercisable with respect to an additional [**1/48**<sup>th</sup>] of the Shares when Optionee completes each month of continuous service following the first one (1) year anniversary of the Vesting Start Date.

**General; Agreement:** By their signatures below, Optionee and the Company agree that this Option is granted under and governed by this Notice of Stock Option Grant (this "***Grant Notice***") and by the provisions of the Plan and the Stock Option Agreement (including the Appendix). The Plan and the Stock Option Agreement (including the Appendix) are incorporated herein by reference. Capitalized **terms** used but not defined herein shall have the meanings given to them in the Plan or in the Stock Option Agreement (including the Appendix), as applicable. By signing below, Optionee acknowledges receipt of a copy of this Grant Notice, the Plan and the Stock Option Agreement (including the Appendix), represents that Optionee has carefully read and is familiar with their provisions, and hereby accepts the Option subject to all of their respective terms and conditions. Optionee acknowledges that there may be adverse tax and/or social security consequences upon exercise of the Option or

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disposition of the Shares and that Optionee should consult a tax or appropriate financial adviser prior to such exercise or disposition.

**Execution and Delivery:** This Grant Notice may be executed and delivered electronically whether via the Company's intranet or the Internet site of a third party or via email or any other means of electronic delivery specified by the Company. By Optionee's acceptance hereof (whether written, electronic or otherwise), Optionee agrees, to the fullest extent permitted by law, that in lieu of receiving documents in paper format, Optionee accepts the electronic delivery of any documents that the Company (or any third party the Company may designate), may deliver in connection with this grant (including the Plan, this Grant Notice, the Stock Option Agreement (including the Appendix), the information described in Rules 701(e)(2), (3), (4) and (5) under the Securities Act (the "***701 Disclosures***"), account statements, or other communications or information) whether via the Company's intranet or the Internet site of such third party or via email or such other means of electronic delivery specified by the Company.

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| | |
|:---|:---|
| **KEEP TRUCKIN, INC.** | |
| By /Signature: | Optionee Signature: |
| Typed Name: | Optionee's Name: |
| Title: | |

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**ATTACHMENT**:&nbsp;&nbsp;&nbsp;&nbsp;Exhibit A – Stock Option Agreement (including the Appendix)

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<u>EXHIBIT A</u>

**<u>STOCK OPTION AGREEMENT - INTERNATIONAL</u>**

**KEEP TRUCKIN, INC.**

**2013 EQUITY INCENTIVE PLAN**

This Stock Option Agreement (including any special terms and conditions for Optionee's country set forth in the attached appendix (the "***Appendix***") (together this "***Agreement***") is made and entered into as of the date of grant (the "***Date of Grant***") set forth on the Notice of Stock Option Grant attached as the facing page to this Agreement (the "***Grant Notice***") by and between Keep Truckin, Inc., a Delaware corporation (the "***Company***"), and the optionee named on the Grant Notice (the "***Optionee***"). Capitalized terms not defined in this Agreement shall have the meaning ascribed to them in the Company's 2013 Equity Incentive Plan, as amended from time to time (the "***Plan***"), or in the Grant Notice, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;GRANT OF OPTION.** The Company hereby grants to Optionee an option (this "***Option***") to purchase up to the total number of shares of Common Stock of the Company, $0.00001 par value per share (the "***Common Stock***"), set forth in the Grant Notice as the Shares (the "***Shares***") at the Exercise Price Per Share set forth in the Grant Notice (the "***Exercise Price***"), subject to all of the terms and conditions of the Grant Notice, this Agreement and the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;EXERCISE PERIOD**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise Period of Option</u>.** This Option is considered to be "vested" with respect to any particular Shares when this Option is exercisable with respect to such Shares. This Option will become vested during its term as to portions of the Shares in accordance with the Vesting Schedule set forth in the Grant Notice. Notwithstanding any provision in the Plan or this Agreement to the contrary, on or after Optionee's Termination Date, this Option may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting of Option Shares</u>.** Shares with respect to which this Option is vested and exercisable at a given time pursuant to the Vesting Schedule set forth in the Grant Notice are "***Vested Shares***." Shares with respect to which this Option is not vested and exercisable at a given time pursuant to the Vesting Schedule set forth in the Grant Notice are "***Unvested Shares***."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Expiration</u>.** The Option shall expire on the Expiration Date set forth in the Grant Notice or earlier as provided in Section 3 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;TERMINATION**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination for Any Reason Except Death, Disability or Cause</u>.** Except as provided in subsection 3.2 in a case in which Optionee dies within three (3) months after Optionee is Terminated other than for Cause, if Optionee is Terminated for any reason (other than Optionee's death or Disability or for Cause), then (a) on and after Optionee's

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Termination Date, this Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date and (b) this Option to the extent (and only to the extent) that it is exercisable with respect to Vested Shares on Optionee's Termination Date, may be exercised by Optionee no later than three (3) months after Optionee's Termination Date (but in no event may this Option be exercised after the Expiration Date).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination Because of Death or Disability</u>.** If Optionee is Terminated because of Optionee's death or Disability (or if Optionee dies within three (3) months of the date of Optionee's Termination for any reason other than for Cause), then (a) on and after Optionee's Termination Date, this Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date and (b) this Option, to the extent (and only to the extent) that it is exercisable with respect to Vested Shares on Optionee's Termination Date, may be exercised by Optionee (or Optionee's personal representative in the case of Optionee's death) no later than twelve (12) months after Optionee's Termination Date, but in no event later than the Expiration Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination for Cause</u>.** If Optionee is Terminated for Cause, then Optionee may exercise this Option, but only with respect to any Shares that are Vested Shares on Optionee's Termination Date, and this Option shall expire on Optionee's Termination Date, or at such later time and on such conditions as may be affirmatively determined by the Committee. On and after Optionee's Termination Date, this Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>No Obligation to Employ</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Nothing in the Plan or this Agreement shall confer on Optionee any right to continue in the employ of, or other relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Optionee's employment or other relationship at any time, with or without Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The grant of options under the Plan is made at the discretion of the Company and the Plan may be suspended or terminated by the Company at any time. The grant of an option in one year or at one time does not in any way entitle Optionee to an option grant in the future. The Plan is wholly discretionary and is not to be considered part of Optionee's normal or expected compensation subject to severance, resignation, redundancy or similar compensation. The value of Optionee's Option is an extraordinary item of compensation which is outside the scope of the employment contract (if any).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Optionee hereby waives all and any rights to compensation or damages in consequence of Optionee's termination of employment for any reason whatsoever (whether lawful or unlawful and including, without prejudice to the generality of the foregoing, in circumstances giving rise to a claim for wrongful dismissal) insofar as those rights arise or

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may arise from Optionee ceasing to have rights under or being entitled to exercise the Option as a result of such termination, or from the loss or diminution in value of such rights or entitlements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The future value of the Shares underlying the Option is unknown, indeterminable, and cannot be predicted with certainty.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any Affiliate shall be liable for any foreign exchange rate fluctuation between Optionee's local currency and the United States Dollar that may affect the value of this Option or of any amounts due to Optionee pursuant to the exercise of this Option or the subsequent sale of any Shares received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;For the purposes of the Option, Optionee's Continuous Service will be considered terminated as of the date Optionee is no longer actively providing services to the Company or one of its Affiliates (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Optionee is employed or the terms of Optionee's employment agreement, if any), and unless otherwise expressly provided in this Stock Option Agreement or determined by the Company, (i) Optionee's right to vest in the Option under the Plan, if any, and (ii) the period (if any) during which Optionee may exercise the Option after such termination of Continuous Service will terminate as of such date and in each instance will not be extended by any notice period or any period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Optionee is employed or the terms of Optionee's employment agreement, if any); and the Board shall have the exclusive discretion to determine when Optionee is no longer actively providing services for purposes of the Option (including whether Optionee may still be considered to be providing services while on a leave of absence).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;No claim or entitlement to compensation or damages shall arise from forfeiture of this Option resulting from the termination of Optionee's Continuous Service (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Optionee is employed or the terms of Optionee's employment or service agreement, if any), and in consideration of the grant of this Option to which Optionee is otherwise not entitled, Optionee irrevocably agrees never to institute any claim against the Company or any Affiliate, waive Optionee's ability, if any, to bring any such claim, and release the Company and any Affiliate from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Optionee shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;MANNER OF EXERCISE**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Option Exercise Notice and Agreement</u>**. To exercise this Option, Optionee (or in the case of exercise after Optionee's death, Optionee's personal representative) must deliver to the Company an executed Stock Option Exercise Notice and Agreement in the form attached hereto as Annex A, or in such other form as may be approved by the Committee from time to time (the "***Exercise Agreement***") and payment for the shares being purchased in

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accordance with this Agreement. The Exercise Agreement shall set forth, among other things, (i) Optionee's election to exercise this Option, (ii) the number of Shares being purchased, (iii) any representations, warranties and agreements regarding Optionee's investment intent and access to information as may be required by the Company to comply with applicable securities laws in connection with any exercise of this Option, (iv) any other agreements required by the Company and (v) Optionee's obligation to execute and deliver certain Stock Powers and Assignments Separate from Stock Certificate to the Company. If Optionee's personal representative exercises this Option, then Optionee's personal representative must submit documentation reasonably acceptable to the Company verifying that he/she has the legal right to exercise this Option and he/she shall be subject to all of the restrictions contained herein as if he/she were Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations on Exercise</u>.** This Option may not be exercised unless such exercise is in compliance with all applicable federal, state and foreign securities laws, as they are in effect on the date of exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment</u>.** The Exercise Agreement shall be accompanied by full payment of the Exercise Price for the shares being purchased in cash (by check or wire transfer), or where permitted by law:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;by cancellation of indebtedness of the Company owed to Optionee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;by surrender of shares of the Company that are free and clear of all security interests, pledges, liens, claims or encumbrances and: (i) for which the Company has received "full payment of the purchase price" within the meaning of SEC Rule 144 (and, if such shares were purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares) or (ii) that were obtained by Optionee in the public market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;by participating in a formal cashless exercise program implemented by the Committee in connection with the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;provided that a public market for the Common Stock exists and subject to compliance with applicable law, by exercising as set forth below, through a "same day sale" commitment from Optionee and a broker-dealer whereby Optionee irrevocably elects to exercise this Option and to sell a portion of the Shares so purchased sufficient to pay the total Exercise Price, and whereby the broker-dealer irrevocably commits upon receipt of such Shares to forward the total Exercise Price directly to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;by any combination of the foregoing or any other method of payment approved by the Committee that constitutes legal consideration for the issuance of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Withholding</u>.** Prior to the issuance of the Shares upon exercise of the Option, Optionee must pay or provide for any applicable federal, state, foreign and local tax and/or social security withholding obligations of the Company. If the Committee permits, Optionee may provide for payment of taxes and/or social security withholdings upon exercise of the Option by requesting that the Company retain the minimum number of Shares with a Fair Market

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Value equal to the minimum amount of taxes and/or social security withholdings required to be withheld; or to arrange a mandatory "sell to cover" on Optionee's behalf (without further authorization); but in no event will the Company withhold Shares or "sell to cover" if such withholding would result in adverse accounting consequences to the Company. In case of stock withholding or a sell to cover, the Company shall issue the net number of Shares to the Optionee by deducting the Shares retained from the Shares issuable upon exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Shares</u>.** Provided that the Exercise Agreement and payment are in form and substance satisfactory to counsel for the Company, the Company shall issue the Shares issuable upon a valid exercise of this Option registered in the name of Optionee, or Optionee's personal representative, and shall deliver certificates representing the Shares with the appropriate legends affixed thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;COMPLIANCE WITH LAWS AND REGULATIONS.** The Plan and this Agreement are intended to comply with Section 25102(o) and Rule 701. Any provision of this Agreement that is inconsistent with Section 25102(o) or Rule 701 shall, without further act or amendment by the Company or the Committee, be reformed to comply with the requirements of Section 25102(o) and/or Rule 701. The exercise of this Option and the issuance and transfer of Shares shall be subject to compliance by the Company and Optionee with all applicable requirements of federal, state and foreign securities laws and with all applicable requirements of any stock exchange on which the Common Stock may be listed at the time of such issuance or transfer. Optionee understands that the Company is under no obligation to register or qualify the Shares with the SEC, any state or foreign securities commission or any stock exchange to effect such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;NONTRANSFERABILITY OF OPTION.** This Option may not be transferred, except to the Optionee's personal representative on death, and may be exercised during the lifetime of Optionee only by Optionee or in the event of Optionee's death, by Optionee's personal representative. The terms of this Option shall be binding upon the personal representative of Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIONS ON TRANSFER**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Disposition of Shares</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Optionee hereby agrees that Optionee shall not sell, transfer, assign, pledge, or otherwise dispose of or encumber any of the Shares or any right or interest therein, whether voluntarily or by operation of law, or by gift or otherwise (each, a "Transfer") without the prior written consent of the Company, upon duly authorized action of its Board. The Company may withhold consent for any legitimate corporate purpose, as determined by the Board. Examples of the basis for the Company to withhold its consent include, without limitation, (i) if such Transfer to individuals, companies or any other form of entity identified by the Company as a potential competitor or considered by the Company to be unfriendly; or (ii) if such Transfer increases the risk of the Company having a class of security held of record by 2,000 or more persons, or 500 or more persons who are not accredited investors (as such term is defined by the U.S. Securities and Exchange Commission (the "SEC")), as described in Section

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12(g) of the 1934 Act and any related regulations, or otherwise requiring the Company to register any class of securities under the 1934 Act; or (iii) if such Transfer would result in the loss of any federal or state securities law exemption relied upon by the Company in connection with the initial issuance of such shares or the issuance of any other securities; or (iv) if such Transfer is facilitated in any manner by any public posting, message board, trading portal, internet site, or similar method of communication, including without limitation any trading portal or internet site intended to facilitate secondary transfers of securities; or (v) if such Transfer is to be effected in a brokered transaction; or (vi) if such Transfer represents a Transfer of less than all of the shares then held by the stockholder and its affiliates or is to be made to more than a single transferee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If Optionee desires to Transfer any Shares, then Optionee will first give written notice to the Company. The notice must name the proposed transferee and state the number of Shares to be transferred, the proposed consideration, and all other terms and conditions of the proposed transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;At the option of the Company, Optionee will be obligated to pay to the Company a reasonable transfer fee related to the costs and time of the Company and its legal and other advisors related to any proposed Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Optionee shall have provided the Company with written assurances, in form and substance satisfactory to counsel for the Company, that (i) the proposed disposition does not require registration of the Shares under the 1934 Act or under any state or foreign securities laws, and (ii) all appropriate actions necessary for compliance with the registration and qualification requirements of the 1934 Act and any state or foreign securities laws, or of any exemption from registration or qualification, available thereunder (including Rule 144) have been taken.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Optionee shall have provided the Company with written assurances, in form and substance satisfactory to the Company, that the proposed disposition will not result in the contravention of any transfer restrictions applicable to the Shares pursuant to the provisions of the regulations promulgated under Section 25102(o), Rule 701 or under any other applicable securities laws or adversely affect the Company's ability to rely on the exemption(s) from registration under the Securities Act or under any other applicable securities laws for the grant of the Option, the issuance of Shares thereunder or any other issuance of securities under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Any Transfer, or purported Transfer, of Shares not made in strict compliance with this Section will be null and void, will not be recorded on the books of the Company and will not be recognized by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;The foregoing restriction on Transfer will terminate upon the date securities of the Company are first offered to the public pursuant to a registration statement filed with, and declared effective by, the SEC under the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Optionee further acknowledges that the Shares are subject to the Company's bylaws, as may be amended from time to time.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferee Obligations</u>.** Each person (other than the Company) to whom the Shares are transferred by means of one of the permitted transfers specified in this Agreement must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Company that such person is bound by the provisions of this Agreement and that the transferred Shares are subject to (i) the Company's Right of First Refusal granted hereunder and (ii) the market stand-off provisions of Section 8 below, to the same extent such Shares would be so subject if retained by Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.&nbsp;&nbsp;&nbsp;&nbsp;MARKET STANDOFF AGREEMENT.** Optionee agrees that, subject to any early release provisions that apply pro rata to stockholders of the Company according to their holdings of Common Stock (determined on an as-converted into Common Stock basis), Optionee will not, if requested by the managing underwriter(s) in the initial underwritten sale of Common Stock of the Company to the public pursuant to a registration statement filed with, and declared effective by, the SEC under the Securities Act (the "***IPO***"), for a period of up to one hundred eighty (180) days following the effective date of the registration statement relating to such IPO, directly or indirectly sell, offer to sell, grant any option for the sale of, or otherwise dispose of any Common Stock or securities convertible into Common Stock, <u>except</u> <u>for:</u> (i) transfers of Shares permitted under Section 9.6 hereof so long as such transferee furnishes to the Company and the managing underwriter their written consent to be bound by this Section 8 as a condition precedent to such transfer; and (ii) sales of any securities to be included in the registration statement for the IPO. For the avoidance of doubt, the provisions of this Section shall only apply to the IPO. The restricted period shall in any event terminate two (2) years after the closing date of the IPO. In order to enforce the foregoing covenant, the Company shall have the right to place restrictive legends on the certificates representing the Shares subject to this Section and to impose stop transfer instructions with respect to the Shares until the end of such period. Optionee further agrees to enter into any agreement reasonably required by the underwriters to implement the foregoing restrictions on transfer. For the avoidance of doubt, the foregoing provisions of this Section shall not apply to any registration of securities of the Company (a) under an employee benefit plan or (b) in a merger, consolidation, business combination or similar transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.&nbsp;&nbsp;&nbsp;&nbsp;COMPANY'S RIGHT OF FIRST REFUSAL.** Subject to Section 7, before any Shares held by Optionee or any transferee of such Shares (either sometimes referred to herein as the "***Holder"***) may be sold or otherwise transferred (including, without limitation, a transfer by gift or operation of law), the Company and/or its assignee(s) will have a right of first refusal to purchase the Shares to be sold or transferred (the "***Offered Shares"***) on the terms and conditions set forth in this Section (the "***Right of First Refusal***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Proposed Transfer</u>.** The Holder of the Offered Shares will deliver to the Company a written notice (the "***Notice***") stating: (i) the Holder's bona fide intention to sell or otherwise transfer the Offered Shares; (ii) the name and address of each proposed purchaser or other transferee (the "***Proposed Transferee***"); (iii) the number of Offered Shares to be transferred to each Proposed Transferee; (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Offered Shares (the "***Offered Price***"); and (v) that the Holder acknowledges this Notice is an offer to sell the Offered Shares to the

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Company and/or its assignee(s) pursuant to the Company's Right of First Refusal at the Offered Price as provided for in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of Right of First Refusal</u>.** At any time within thirty (30) days after the date of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all (or, with the consent of the Holder, less than all) the Offered Shares proposed to be transferred to any one or more of the Proposed Transferees named in the Notice, at the purchase price, determined as specified below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase Price</u>.** The purchase price for the Offered Shares purchased under this Section will be the Offered Price, *provided* that if the Offered Price consists of no legal consideration (as, for example, in the case of a transfer by gift) then the purchase price will be the fair market value of the Offered Shares as determined in good faith by the Committee. If the Offered Price includes consideration other than cash, then the value of the non-cash consideration, as determined in good faith by the Committee, will conclusively be deemed to be the cash equivalent value of such non-cash consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment</u>.** Payment of the purchase price for the Offered Shares will be payable, at the option of the Company and/or its assignee(s) (as applicable), by check or by cancellation of all or a portion of any outstanding purchase money indebtedness owed by the Holder to the Company (or to such assignee, in the case of a purchase of Offered Shares by such assignee) or by any combination thereof. The purchase price will be paid without interest within sixty (60) days after the Company's receipt of the Notice, or, at the option of the Company and/or its assignee(s), in the manner and at the time(s) set forth in the Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Holder's Right to Transfer</u>.** If all of the Offered Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section, then the Holder may sell or otherwise transfer such Offered Shares to each Proposed Transferee at the Offered Price or at a higher price, *provided* that (i) such sale or other transfer is consummated within ninety (90) days after the date of the Notice, (ii) any such sale or other transfer is effected in compliance with all applicable securities laws, and (iii) each Proposed Transferee agrees in writing that the provisions of this Section will continue to apply to the Offered Shares in the hands of such Proposed Transferee. If the Offered Shares described in the Notice are not transferred to each Proposed Transferee within such ninety (90) day period, then a new Notice must be given to the Company pursuant to which the Company will again be offered the Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Exempt Transfers</u>.** Notwithstanding anything to the contrary in this Section, the following transfers of Shares will be exempt from the Right of First Refusal: (i) the transfer of any or all of the Shares during Optionee's lifetime by gift or on Optionee's death by will or intestacy to any member(s) of Optionee's "Immediate Family" (as defined below) or to a trust for the benefit of Optionee and/or member(s) of Optionee's Immediate Family, *provided* that each transferee or other recipient agrees in a writing satisfactory to the Company that the provisions of this Section will continue to apply to the transferred Shares in the hands of such transferee or other recipient; (ii) any transfer of Shares made pursuant to a statutory merger,

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statutory consolidation of the Company with or into another corporation or corporations or a conversion of the Company into another form of legal entity (except that the Right of First Refusal will continue to apply thereafter to such Shares, in which case the surviving corporation of such merger or consolidation or the resulting entity of such conversion shall succeed to the rights of the Company under this Section unless the agreement of merger or consolidation or conversion expressly otherwise provides); or (iii) any transfer of Shares pursuant to the winding up and dissolution of the Company. As used herein, the term "***Immediate Family***" will mean Optionee's spouse, the lineal descendant or antecedent, father, mother, brother or sister, child, adopted child, grandchild or adopted grandchild of Optionee or Optionee's spouse, or the spouse of any of the above or Spousal Equivalent, as defined herein. As used herein, a person is deemed to be a "***Spousal Equivalent***" provided the following circumstances are true: (i) irrespective of whether or not the Optionee and the Spousal Equivalent are the same sex, they are the sole spousal equivalent of the other for the last twelve (12) months, (ii) they intend to remain so indefinitely, (iii) neither are married to anyone else, (iv) both are at least 18 years of age and mentally competent to consent to contract, (v) they are not related by blood to a degree of closeness that which would prohibit legal marriage in the state or foreign jurisdiction in which they legally reside, (vi) they are jointly responsible for each other's common welfare and financial obligations, and (vii) they reside together in the same residence for the last twelve (12) months and intend to do so indefinitely.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Right of First Refusal</u>.** The Right of First Refusal will terminate as to all Shares: (i) on the effective date of the first sale of Common Stock of the Company to the general public pursuant to a registration statement filed with and declared effective by the SEC under the Securities Act (other than a registration statement relating solely to the issuance of Common Stock pursuant to a business combination or an employee incentive or benefit plan); (ii) on any transfer or conversion of Shares made pursuant to a statutory merger or statutory consolidation of the Company with or into another corporation or corporations if the common stock of the surviving corporation or any direct or indirect parent corporation thereof is registered under the Exchange Act; or (iii) on any transfer or conversion of Shares made pursuant to a statutory conversion of the Company into another form of legal entity if the common equity (or comparable equity security) of entity resulting from such conversion is registered under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Encumbrances on Shares</u>.** Optionee may grant a lien or security interest in, or pledge, hypothecate or encumber Shares only if each party to whom such lien or security interest is granted, or to whom such pledge, hypothecation or other encumbrance is made, agrees in a writing satisfactory to the Company that: (i) such lien, security interest, pledge, hypothecation or encumbrance will not adversely affect or impair the Right of First Refusal or the rights of the Company and/or its assignee(s) with respect thereto and will not apply to such Shares after they are acquired by the Company and/or its assignees under this Section; and (ii) the provisions of this Agreement will continue to apply to such Shares in the hands of such party and any transferee of such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.&nbsp;&nbsp;&nbsp;&nbsp;RIGHTS AS A STOCKHOLDER.** Optionee shall not have any of the rights of a stockholder with respect to any Shares unless and until such Shares are issued to Optionee.

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Subject to the terms and conditions of this Agreement, Optionee will have all of the rights of a stockholder of the Company with respect to the Shares from and after the date that Shares are issued to Optionee pursuant to, and in accordance with, the terms of the Exercise Agreement until such time as Optionee disposes of the Shares or the Company and/or its assignee(s) exercise(s) the Right of First Refusal. Upon an exercise of the Right of First Refusal, Optionee will have no further rights as a holder of the Shares so purchased upon such exercise, other than the right to receive payment for the Shares so purchased in accordance with the provisions of this Agreement, and Optionee will promptly surrender the stock certificate(s) evidencing the Shares so purchased to the Company for transfer or cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.&nbsp;&nbsp;&nbsp;&nbsp;ESCROW.** As security for Optionee's faithful performance of this Agreement, Optionee agrees, immediately upon receipt of the stock certificate(s) evidencing the Shares, to deliver such certificate(s), together with two (2) copies of a blank Stock Power and Assignment Separate from Stock Certificate in the form attached to the Exercise Agreement (the "***Stock Powers***"), both executed by Optionee (and Optionee's spouse, if any) (with the transferee, certificate number, date and number of Shares left blank), to the Secretary of the Company or other designee of the Company (the "***Escrow Holder***"), who is hereby appointed to hold such certificate(s) and Stock Powers in escrow and to take all such actions and to effectuate all such transfers and/or releases of such Shares as are in accordance with the terms of this Agreement. Optionee and the Company agree that Escrow Holder will not be liable to any party to this Agreement (or to any other party) for any actions or omissions unless Escrow Holder is grossly negligent or intentionally fraudulent in carrying out the duties of Escrow Holder under this Agreement. Escrow Holder may rely upon any letter, notice or other document executed with any signature purported to be genuine and may rely on the advice of counsel and obey any order of any court with respect to the transactions contemplated by this Agreement and will not be liable for any act or omission taken by Escrow Holder in good faith reliance on such documents, the advice of counsel or a court order. The Shares will be released from escrow upon termination of the Right of First Refusal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIVE LEGENDS AND STOP-TRANSFER ORDERS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>**. Optionee understands and agrees that the Company will place the legends set forth below or similar legends on any stock certificate(s) evidencing the Shares, together with any other legends that may be required by state, federal or foreign securities laws, the Company's Certificate of Incorporation or Bylaws, any other agreement between Optionee and the Company, or any agreement between Optionee and any third party (and any other legend(s) that the Company may become obligated to place on the stock certificate(s) evidencing the Shares under the terms of any agreement to which the Company is or may become bound or obligated):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED

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UNDER THE SECURITIES ACT AND APPLICABLE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON RESALE AND TRANSFER, INCLUDING THE RIGHT OF FIRST REFUSAL HELD BY THE ISSUER AND/OR ITS ASSIGNEE(S) AS SET FORTH IN A STOCK OPTION AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH SALE AND TRANSFER RESTRICTIONS, INCLUDING THE RIGHT OF FIRST REFUSAL, ARE BINDING ON TRANSFEREES OF THESE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A MARKET STANDOFF RESTRICTION AS SET FORTH IN A CERTAIN STOCK OPTION AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT, THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS AFTER THE EFFECTIVE DATE OF CERTAIN PUBLIC OFFERINGS OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES OF THESE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Stop-Transfer Instructions</u>.** Optionee agrees that, to ensure compliance with the restrictions imposed by this Agreement, the Company may issue appropriate "stop-transfer" instructions to its transfer agent, if any, and if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Refusal to Transfer</u>.** The Company will not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares, or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares have been so transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.&nbsp;&nbsp;&nbsp;&nbsp;NO ADVICE REGARDING GRANT.** The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Optionee's participation in the Plan, or Optionee's acquisition or sale of the underlying Shares. Optionee should consult with Optionee's own personal tax, legal and financial advisors regarding participation in the Plan before taking any action.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.&nbsp;&nbsp;&nbsp;&nbsp;GENERAL PROVISIONS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation</u>.** Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or the Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>.** The Plan, the Grant Notice and the Exercise Agreement are each incorporated herein by reference. This Agreement, the Grant Notice, the Plan and the Exercise Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all prior undertakings and agreements with respect to such subject matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.&nbsp;&nbsp;&nbsp;&nbsp;NOTICES.** Any and all notices required or permitted to be given to a party pursuant to the provisions of this Agreement will be in writing and will be effective and deemed to provide such party sufficient notice under this Agreement on the earliest of the following: (i) at the time of personal delivery, if delivery is in person; (ii) at the time an electronic confirmation of receipt is received, if delivery is by email; (iii) at the time of transmission by facsimile, addressed to the other party at its facsimile number specified herein (or hereafter modified by subsequent notice to the parties hereto), with confirmation of receipt made by both telephone and printed confirmation sheet verifying successful transmission of the facsimile; (iv) five (5) days after deposit with an express courier. Any notice for delivery outside the United States will be sent by email, facsimile or by express courier. Any notice not delivered personally or by email will be sent with postage and/or other charges prepaid and properly addressed to Optionee at the last known address or facsimile number on the books of the Company, or at such other address or facsimile number as such other party may designate by one of the indicated means of notice herein to the other parties hereto or, in the case of the Company, to it at its principal place of business. Notices to the Company will be marked "Attention: Chief Financial Officer." Notices by facsimile shall be machine verified as received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.&nbsp;&nbsp;&nbsp;&nbsp;SUCCESSORS AND ASSIGNS.** The Company may assign any of its rights under this Agreement including its rights to purchase Shares under the Right of First Refusal. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Optionee and Optionee's personal representative upon death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING LAW.** This Agreement shall be governed by and construed in accordance with the internal laws of the State of California as such laws are applied to agreements between California residents entered into and to be performed entirely within California. If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.&nbsp;&nbsp;&nbsp;&nbsp;FURTHER ASSURANCES.** The parties agree to execute such further documents and instruments and to take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.&nbsp;&nbsp;&nbsp;&nbsp;TITLES AND HEADINGS.** The titles, captions and headings of this Agreement are included for ease of reference only and will be disregarded in interpreting or construing this Agreement. Unless otherwise specifically stated, all references herein to "sections" and "exhibits" will mean "sections" and "exhibits" to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.&nbsp;&nbsp;&nbsp;&nbsp;COUNTERPARTS.** This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together shall constitute one and the same agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.&nbsp;&nbsp;&nbsp;&nbsp;SEVERABILITY.** If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement. Notwithstanding the forgoing, if the value of this Agreement based upon the substantial benefit of the bargain for any party is materially impaired, which determination as made by the presiding court or arbitrator of competent jurisdiction shall be binding, then both parties agree to substitute such provision(s) through good faith negotiations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.&nbsp;&nbsp;&nbsp;&nbsp;DATA PRIVACY**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.1&nbsp;&nbsp;&nbsp;&nbsp;**Optionee explicitly and unambiguously acknowledges and consents to the collection, use and transfer, in electronic or other form, of Optionee's personal data as described in this document by and among, as applicable, Optionee's employer, the Company and its Affiliates for the exclusive purpose of implementing, administering and managing Optionee's participation in the Plan. Optionee understands that the Company, its Affiliates and Optionee's employer hold certain personal information about Optionee, including, but not limited to, name, home address and telephone number, date of birth, social security number (or other identification number), salary, nationality, job title, any shares of stock or directorships held in the Company, details of all Options or any other entitlement to Shares awarded, canceled, purchased, exercised, vested, unvested or outstanding in Optionee's favor for the purpose of implementing, managing and administering the Plan ("***Data***"). Optionee understands that the Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in Optionee's country or elsewhere, in particular in the US, and that the recipient country may have different data privacy laws providing less protections of Optionee's personal data than Optionee's country. Optionee may request a list with the names and addresses of any potential recipients of the Data by contacting as the stock plan administrator at the Company (the "***Stock Plan Administrator***"). Optionee acknowledges that the recipients may receive, possess, process, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing Optionee'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 Optionee may elect to deposit any Shares acquired upon the exercise of Optionee's Option. Optionee understands that Data will be held only as long as is necessary to implement, administer and manage Optionee's participation in the Plan. Optionee may, at any time, view the

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Data, request additional information about the storage and processing of the Data, require any necessary amendments to the Data or refuse or withdraw the consents herein, in any case without cost, by contacting the Stock Plan Administrator in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.&nbsp;&nbsp;&nbsp;&nbsp;LANGUAGE.** Optionee acknowledges that Optionee is sufficiently proficient in the English language, or has consulted with an advisor who is sufficiently proficient in English, so as to allow Optionee to understand the terms and conditions of this Stock Option Agreement. If Optionee has received this Stock Option Agreement, or any other document related to this Option and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24.&nbsp;&nbsp;&nbsp;&nbsp;FOREIGN ASSET/ACCOUNT, EXCHANGE CONTROL AND TAX REPORTING**. Optionee may be subject to foreign asset/account, exchange control and/or tax reporting requirements as a result of the acquisition, holding and/or transfer of Shares or cash (including dividends and the proceeds arising from the sale of Shares) derived from Optionee's participation in the Plan in, to and/or from a brokerage/bank account or legal entity located outside Optionee's country. The applicable laws in Optionee's country may require that Optionee reports such accounts, assets and balances therein, the value thereof and/or the transactions related thereto to the applicable authorities in such country. Optionee may also be required to repatriate sale proceeds or other funds received as a result of participating in the Plan to Optionee's country through a designated bank or broker within a certain time after receipt. Optionee acknowledges that it is Optionee's responsibility to be compliant with such regulations and Optionee is encouraged to consult with Optionee's personal legal advisor for any details.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25.&nbsp;&nbsp;&nbsp;&nbsp;APPENDIX.** Notwithstanding any provisions in this Stock Option Agreement, Optionee's Option shall be subject to the special terms and conditions for Optionee's country set forth in the Appendix attached to this Stock Option Agreement. Moreover, if Optionee relocates to one of the countries included therein, the terms and conditions for such country will apply to Optionee to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Stock Option Agreement.

\* \* \* \* \*

**Attachment:&nbsp;&nbsp;&nbsp;&nbsp;**Appendix to Stock Option Agreement

<u>Annex A</u>: Form of Stock Option Exercise Notice and Agreement

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**<u>APPENDIX TO OPTION AGREEMENT</u>**

This Appendix includes special terms and conditions that govern the Option granted to Optionee under the Plan if Optionee resides and/or works in one of the countries listed below.

The information contained herein is general in nature and may not apply to Optionee's particular situation, and Optionee is advised to seek appropriate professional advice as to how the relevant laws in Optionee's country may apply to Optionee's situation. If Optionee is a citizen or resident of a country other than the one in which Optionee is currently working and/or residing, transfer employment and/or residency to another country after the Date of Grant, are a consultant, change employment status to a consultant position, or are considered a resident of another country for local law purposes, the Company shall, in its discretion, determine the extent to which the special terms and conditions contained herein shall be applicable to Optionee. References to Optionee's "Employer" shall include any entity that engages Optionee's services.

**<u>INDIA</u>**

**Exercise Restriction**. The following supplements the Notice of Stock Option Grant and Section 4 of the Option Agreement.

Optionee must comply at the time of exercise with applicable laws and regulations of India, including but not limited to the Foreign Exchange Management Act, 1999 of India and the rules, regulations and amendments thereto ("***FEMA***"). If deemed necessary or advisable to comply with applicable laws, including FEMA, the Company may require Optionee to pay for the Common Stock purchased on exercise, and any federal, state, foreign and local tax and/or social security withholding obligations, through a cashless exercise method. In addition, once the Common Stock is publically traded, Optionee may be further required on an exercise of the Option to immediately sell all the Common Stock purchased on exercise in order to facilitate any required repatriation of proceeds in connection with the Common Stock issued on exercise of the Option.

Further, the Plan and the corresponding documents have neither been delivered for registration nor are they intended to be registered with any regulatory authorities in India. These documents are not intended for distribution and are meant solely for the consideration of the person to whom they are addressed and should not be reproduced by Optionee.

**<u>TAIWAN</u>**

**Terms and Conditions**

**Data Privacy.** The following provision supplements Section 22 of the Stock Option Agreement:

Optionee hereby acknowledges having read and understood the terms regarding the collection, processing and transfer of Data contained in Section 22 of the Stock Option Agreement and, by participating in the Plan, Optionee agrees to such terms. In this regard, upon request of the Company or the Employer, Optionee agrees to provide any executed data privacy consent form

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(or any other agreements or consents that may be required by the Employer or the Company) that the Company and/or the Employer may deem necessary under applicable data privacy laws, either now or in the future. Optionee understands that Optionee may, from time to time, exercise any of the following rights: (1) access Data to check and review it; (2) have a copy of Data; (3) supplement or correct Data; (4) demand that the Company or the Employer cease the collection, processing, or use of Data; and (5) demand that the Company or the Employer delete Data. Optionee also understands that Optionee will not be able to participate in the Plan if Optionee fails to execute any such consent or agreement or may not be able to participate in the Plan if Optionee exercises any of the above rights.

**Notifications**

**Securities Law Information**. The Option and the Shares underlying the Option are available only for employees, officers, directors, contractors or consultants of the Company and its Affiliates. It is not a public offer of securities by a Taiwanese company and hence will not be subject to the securities regulations of Taiwan and does not require any prior approval from, or registration with, the Taiwanese authority or any disclosures in Taiwan.

**Exchange Control Information.** Taiwanese residents may acquire and remit foreign currency (including proceeds from the sale of Shares) into and out of Taiwan for an aggregate amount of up to US$5,000,000 or its equivalence in other foreign currencies per year. Any inward/outward remittance that exceeds the aforesaid ceiling amount is subject to the prior approval of the Central Bank of the Republic of China. Optionee understands that if Optionee is a Taiwanese resident, and the transaction amount is TWD$500,000 or more in a single transaction, Optionee may need to submit a foreign exchange transaction form and provide supporting documentation to the satisfaction of the remitting bank.

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**<u>Annex A</u>**

**FORM OF STOCK OPTION EXERCISE NOTICE AND AGREEMENT**

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**<u>STOCK OPTION EXERCISE NOTICE AND AGREEMENT - INTERNATIONAL</u>**

**KEEP TRUCKIN, INC.**

**2013 EQUITY INCENTIVE PLAN**

**\*<u>NOTE</u>: *You <u>must</u> sign this Notice on Page 3 before submitting it to Keep Truckin, Inc. (the "Company")*.**

**OPTIONEE INFORMATION:** *Please provide the following information about yourself ("****Optionee****")*:

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| | |
|:---|:---|
| Name: | Social Security Number (or local equivalent):  |
| Address: | Employee Number:  |

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**OPTION INFORMATION:** Please provide this information on the option being exercised (the "**Option**"):

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| | |
|:---|:---|
| Grant No. |  |
| Date of Grant: | Type of Stock Option: |
| Option Price per Share: US$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | Nonqualified (NQSO) |
| Total number of shares of Common Stock of the Company subject to the Option: |  |

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**EXERCISE INFORMATION:**

Number of shares of Common Stock of the Company for which the Option is now being exercised [<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> ]. (These shares are referred to below as the "***Purchased Shares***.")

Total Exercise Price Being Paid for the Purchased Shares: US$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Form of payment enclosed ***[check all that apply]***:

**☐**&nbsp;&nbsp;&nbsp;&nbsp;Check for US$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> , payable to "***Keep Truckin, Inc***."

**☐** &nbsp;&nbsp;&nbsp;&nbsp;Certificate(s) for <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> shares of Common Stock of the Company. These shares will be valued as of the date this notice is received by the Company. ***[Requires Company consent.]***

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**AGREEMENTS, REPRESENTATIONS AND ACKNOWLEDGMENTS OF OPTIONEE:** By signing this Stock Option Exercise Notice and Agreement, Optionee hereby agrees with, and represents to, the Company as follows:

**1. Terms Governing.** I acknowledge and agree with the Company that I am acquiring the Purchased Shares by exercise of this Option subject to all other terms and conditions of the Notice of Stock Option Grant and the Stock Option Agreement (including the Appendix) that govern the Option, including without limitation the terms of the Company's 2013 Equity Incentive Plan, as it may be amended (the "***Plan***").

**2. Investment Intent; Securities Law Restrictions.** I represent and warrant to the Company that I am acquiring and will hold the Purchased Shares for investment for my account only, and not with a view to, or for resale in connection with, any "distribution" of the Purchased Shares within the meaning of the Securities Act of 1933, as amended (the "***Securities Act***"). I understand that the Purchased Shares have not been registered under the Securities Act by reason of a specific exemption from such registration requirement and that the Purchased Shares must be held by me indefinitely, unless they are subsequently registered under the Securities Act or I obtain an opinion of counsel (in form and substance satisfactory to the Company and its counsel) that registration is not required. I acknowledge that the Company is under no obligation to register the Purchased Shares under the Securities Act or under any other securities law.

**3. Restrictions on Transfer: Rule 144.** I will not sell, transfer or otherwise dispose of the Purchased Shares in violation of the Securities Act, the Securities Exchange Act of 1934, or the rules promulgated thereunder (including Rule 144 under the Securities Act described below "Rule 144")) or of any other applicable securities laws. I am aware of Rule 144, which permits limited public resales of securities acquired in a non-public offering, subject to satisfaction of certain conditions, which include (without limitation) that: (a) certain current public information about the Company is available; (b) the resale occurs only after the holding period required by Rule 144 has been met; (c) the sale occurs through an unsolicited "broker's transaction"; and (d) the amount of securities being sold during any three-month period does not exceed specified limitations. I understand that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company has no plans to satisfy these conditions in the foreseeable future.

**4. Access to Information; Understanding of Risk in Investment.** I acknowledge that I have received and had access to such information as I consider necessary or appropriate for deciding whether to invest in the Purchased Shares and that I had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the issuance of the Purchased Shares. I am aware that my investment in the Company is a speculative investment that has limited liquidity and is subject to the risk of complete loss. I am able, without impairing my financial condition, to hold the Purchased Shares for an indefinite period and to suffer a complete loss of my investment in the Purchased Shares.

**5. Rights of First Refusal; Market Stand-off.** I acknowledge that the Purchased Shares remain subject to the Company's Right of First Refusal and the market stand-off covenants

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(sometimes referred to as the "lock-up"), all in accordance with the applicable Notice of Stock Option Grant and the Stock Option Agreement that govern the Option.

**6. Form of Ownership.** I acknowledge that the Company has encouraged me to consult my own adviser to determine the form of ownership of the Purchased Shares that is appropriate for me. In the event that I choose to transfer my Purchased Shares to a trust, I agree to sign a Stock Transfer Agreement. In the event that I choose to transfer my Purchased Shares to a trust that is not an eligible revocable trust, I also acknowledge that the transfer will be treated as a "disposition" for tax purposes.

**7. Investigation of Tax Consequences.** I acknowledge that the Company has encouraged me to consult my own adviser to determine the tax and social security consequences of acquiring the Purchased Shares at this time.

**8. Other Tax Matters.** I agree that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner that minimizes my tax or social security liabilities. I will not make any claim against the Company or its Board, officers or employees related to tax liabilities arising from my options or my other compensation.

**9. Spouse Consent.** I agree to seek the consent of my spouse to the extent required by the Company to enforce the foregoing.

**10. Tax Withholding.** As a condition of exercising this Option, I agree to make adequate provision for foreign, federal, state or other tax and social security withholding obligations, if any, which arise upon the grant, vesting or exercise of this Option, or disposition of the Purchased Shares, whether by withholding, direct payment to the Company, or otherwise.

The undersigned hereby executes and delivers this Stock Option Exercise Notice and Agreement to agrees to be bound by its terms

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| | |
|:---|:---|
| **SIGNATURE:** | **DATE:** |
| Optionee's Name: | |

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**[Signature Page to Stock Option Exercise Notice and Agreement]**

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<u>EARLY EXERCISE FORM</u>

***OPTION GRANT NO.* <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>**

**NOTICE OF STOCK OPTION GRANT** 

**KEEP TRUCKIN, INC.**

**2013 EQUITY INCENTIVE PLAN**

The Optionee named below ("***Optionee***") has been granted an option (this "***Option***") to purchase shares of Common Stock, $0.00001 par value per share (the "***Common Stock***"), of Keep Truckin, Inc., a Delaware corporation (the "***Company***"), pursuant to the Company's 2013 Equity Incentive Plan, as amended from time to time (the "***Plan***") on the terms, and subject to the conditions, described below and in the Stock Option Agreement attached hereto as **<u>Exhibit A</u>**, including its annexes (the "***Stock Option Agreement***").

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| | |
|:---|:---|
| **Optionee:** | |
| **Maximum Number of Shares Subject to this Option (the "*Shares*"):** | |
| **Exercise Price Per Share:** | $<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> per share |
| **Date of Grant:** |  |
| **Vesting Start Date:** |  |
| **Exercise Schedule:** | This Option is immediately exercisable for all of the Shares, subject to the terms of the Stock Option Agreement |
| **Expiration Date:** | The date ten (10) years after the Date of Grant set forth above, subject to earlier expiration in the event of Termination as provided in Section 3 of the Stock Option Agreement. |
| **Tax Status of Option:**<br>(Check *<u>Only</u>* One Box): | ☐&nbsp;&nbsp;&nbsp;&nbsp;Incentive Stock Option (To the fullest extent permitted by the Code)<br>☐&nbsp;&nbsp;&nbsp;&nbsp;Nonqualified Stock Option.<br>*(If <u>neither</u> box is checked, this Option is a Nonqualified Stock Option).* |

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**Vesting Schedule [EXAMPLE ONLY]:** For so long as Optionee continuously provides services to the Company (or any Subsidiary or Parent of the Company) as an employee, officer, director, contractor or consultant, the Shares subject to this Option will vest as follows: (a) prior to the first one (1) year anniversary of the Vesting Start Date, none of the Shares will be vested; (b) [**1/4**<sup>th</sup>**]** of the Shares will be vested on the one (1) year anniversary of the Vesting Start Date; and (c) thereafter, this Option will become vested and exercisable with respect to an additional [**1/48**<sup>th</sup>] of the Shares when Optionee completes each month of continuous service following the first one (1) year anniversary of the Vesting Start Date.

**General; Agreement:** By their signatures below, Optionee and the Company agree that this Option is granted under and governed by this Notice of Stock Option Grant (this "***Grant Notice***") and by the provisions of the Plan and the Stock Option Agreement. The Plan and the Stock Option Agreement are incorporated herein by reference. Capitalized terms used but not defined herein shall have the meanings given to them in the Plan or in the Stock Option Agreement, as applicable. By signing below, Optionee acknowledges receipt of a copy of this Grant Notice, the Plan and the Stock Option Agreement, represents that Optionee has carefully read and is familiar with their provisions, and hereby accepts the Option subject to all of their respective terms and conditions. Optionee

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acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the Shares and that Optionee should consult a tax adviser prior to such exercise or disposition.

**Execution and Delivery:** This Grant Notice may be executed and delivered electronically whether via the Company's intranet or the Internet site of a third party or via email or any other means of electronic delivery specified by the Company. By Optionee's acceptance hereof (whether written, electronic or otherwise), Optionee agrees, to the fullest extent permitted by law, that in lieu of receiving documents in paper format, Optionee accepts the electronic delivery of any documents that the Company (or any third party the Company may designate), may deliver in connection with this grant (including the Plan, this Grant Notice, the Stock Option Agreement, the information described in Rules 701(e)(2), (3), (4) and (5) under the Securities Act (the "***701 Disclosures***"), account statements, or other communications or information) whether via the Company's intranet or the Internet site of such third party or via email or such other means of electronic delivery specified by the Company.

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| | |
|:---|:---|
| **KEEP TRUCKIN, INC.** | |
| By /Signature: | Optionee Signature: |
| Typed Name: | Optionee's Name: |
| Title: | |

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**ATTACHMENT**:&nbsp;&nbsp;&nbsp;&nbsp;Exhibit A – Stock Option Agreement

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**<u>Exhibit A</u>**

**Stock Option Agreement**

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<u>EXHIBIT A</u>

<u>EARLY EXERCISE FORM</u>

**<u>STOCK OPTION AGREEMENT</u>**

**KEEP TRUCKIN, INC.**

**2013 EQUITY INCENTIVE PLAN**

This Stock Option Agreement (this "***Agreement***") is made and entered into as of the date of grant (the "***Date of Grant***") set forth on the Notice of Stock Option Grant attached as the facing page to this Agreement (the "***Grant Notice***") by and between Keep Truckin, Inc., a Delaware corporation (the "***Company***"), and the optionee named on the Grant Notice (the "***Optionee***"). Capitalized terms not defined in this Agreement shall have the meaning ascribed to them in the Company's 2013 Equity Incentive Plan, as amended from time to time (the "***Plan***"), or in the Grant Notice, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;GRANT OF OPTION.** The Company hereby grants to Optionee an option (this "***Option***") to purchase up to the total number of shares of Common Stock of the Company, $0.00001 par value per share (the "***Common Stock***"), set forth in the Grant Notice as the Shares (the "***Shares***") at the Exercise Price Per Share set forth in the Grant Notice (the "***Exercise Price***"), subject to all of the terms and conditions of the Grant Notice, this Agreement and the Plan. If designated as an Incentive Stock Option in the Grant Notice, this Option is intended to qualify as an incentive stock option (the "***ISO***") within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "***Code***"), except that if on the Date of Grant Optionee is not subject to U.S. income tax, then this Option shall be a NQSO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;EXERCISE PERIOD.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise Period of Option</u>.** Subject to the conditions set forth in this Agreement, all or part of this Option may be exercised at any time after the Date of Grant. Shares purchased by exercising this Option may be subject to the Repurchase Option as set forth in Section 7 below. This Option will become vested during its term as to portions of the Shares in accordance with the Vesting Schedule set forth in the Grant Notice. Notwithstanding any provision in the Plan or this Agreement to the contrary, on or after Optionee's Termination Date, this Option may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting of Option Shares</u>.** Shares with respect to which this Option is vested at a given time pursuant to the Vesting Schedule set forth in the Grant Notice are "***Vested Shares***." Shares with respect to which this Option is not vested at a given time pursuant to the Vesting Schedule set forth in the Grant Notice are "***Unvested Shares***."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Expiration</u>.** The Option shall expire on the Expiration Date set forth in the Grant Notice or earlier as provided in Section 3 below.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;TERMINATION.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination for Any Reason Except Death, Disability or Cause</u>.** Except as provided in subsection 3.2 in a case in which Optionee dies within three (3) months after Optionee is Terminated other than for Cause, if Optionee is Terminated for any reason (other than Optionee's death or Disability or for Cause), then (a) on and after Optionee's Termination Date, this Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date and (b) this Option to the extent (and only to the extent) that it is exercisable with respect to Vested Shares on Optionee's Termination Date, may be exercised by Optionee no later than three (3) months after Optionee's Termination Date (but in no event may this Option be exercised after the Expiration Date).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination Because of Death or Disability</u>.** If Optionee is Terminated because of Optionee's death or Disability (or if Optionee dies within three (3) months of the date of Optionee's Termination for any reason other than for Cause), then (a) on and after Optionee's Termination Date, this Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date and (b) this Option, to the extent (and only to the extent) that it is exercisable with respect to Vested Shares on Optionee's Termination Date, may be exercised by Optionee (or Optionee's legal representative) no later than twelve (12) months after Optionee's Termination Date, but in no event later than the Expiration Date. Any exercise of this Option beyond (i) three (3) months after the date Optionee ceases to be an employee when Optionee's Termination is for any reason other than Optionee's death or disability, within the meaning of Section 22(e)(3) of the Code; or (ii) twelve (12) months after the date Optionee ceases to be an employee when the termination is for Optionee's disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be an NQSO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination for Cause</u>.** If Optionee is Terminated for Cause, then Optionee may exercise this Option, but only with respect to any Shares that are Vested Shares on Optionee's Termination Date, and this Option shall expire on Optionee's Termination Date, or at such later time and on such conditions as may be affirmatively determined by the Committee. On and after Optionee's Termination Date, this Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to any Shares that are Unvested Shares on Optionee's Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Obligation to Employ</u>.** Nothing in the Plan or this Agreement shall confer on Optionee any right to continue in the employ of, or other relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Optionee's employment or other relationship at any time, with or without Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;MANNER OF EXERCISE.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Option Exercise Notice and Agreement</u>**. To exercise this Option, Optionee (or in the case of exercise after Optionee's death or incapacity, Optionee's executor,

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administrator, heir or legatee, as the case may be) must deliver to the Company an executed Stock Option Exercise Notice and Agreement in the form attached hereto as Annex A, or in such other form as may be approved by the Committee from time to time (the "***Exercise Agreement***") and payment for the shares being purchased in accordance with this Agreement. The Exercise Agreement shall set forth, among other things, (i) Optionee's election to exercise this Option, (ii) the number of Shares being purchased, (iii) any representations, warranties and agreements regarding Optionee's investment intent and access to information as may be required by the Company to comply with applicable securities laws in connection with any exercise of this Option, (iv) any other agreements required by the Company and (v) Optionee's obligation to execute and deliver certain Stock Powers and Assignments Separate from Stock Certificate to the Company. If someone other than Optionee exercises this Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise this Option and such person shall be subject to all of the restrictions contained herein as if such person were Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations on Exercise</u>.** This Option may not be exercised unless such exercise is in compliance with all applicable federal, state and foreign securities laws, as they are in effect on the date of exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment</u>.** The Exercise Agreement shall be accompanied by full payment of the Exercise Price for the shares being purchased in cash (by check or wire transfer), or where permitted by law:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;by cancellation of indebtedness of the Company owed to Optionee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;by surrender of shares of the Company that are free and clear of all security interests, pledges, liens, claims or encumbrances and: (i) for which the Company has received "full payment of the purchase price" within the meaning of SEC Rule 144 (and, if such shares were purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares) or (ii) that were obtained by Optionee in the public market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;by participating in a formal cashless exercise program implemented by the Committee in connection with the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;provided that a public market for the Common Stock exists, subject to compliance with applicable law, by exercising as set forth below, through a "same day sale" commitment from Optionee and a broker-dealer whereby Optionee irrevocably elects to exercise this Option and to sell a portion of the Shares so purchased sufficient to pay the total Exercise Price, and whereby the broker-dealer irrevocably commits upon receipt of such Shares to forward the total Exercise Price directly to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;by any combination of the foregoing or any other method of payment approved by the Committee that constitutes legal consideration for the issuance of Shares.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Withholding</u>.** Prior to the issuance of the Shares upon exercise of the Option, Optionee must pay or provide for any applicable federal, state, foreign and local withholding obligations of the Company. If the Committee permits, Optionee may provide for payment of withholding taxes upon exercise of the Option by requesting that the Company retain the minimum number of Shares with a Fair Market Value equal to the minimum amount of taxes required to be withheld; or to arrange a mandatory "sell to cover" on Participant's behalf (without further authorization); but in no event will the Company withhold Shares or "sell to cover" if such withholding would result in adverse accounting consequences to the Company. In case of stock withholding or a sell to cover, the Company shall issue the net number of Shares to the Optionee by deducting the Shares retained from the Shares issuable upon exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Shares</u>.** Provided that the Exercise Agreement and payment are in form and substance satisfactory to counsel for the Company, the Company shall issue the Shares issuable upon a valid exercise of this Option registered in the name of Optionee, Optionee's authorized assignee, or Optionee's legal representative, and shall deliver certificates representing the Shares with the appropriate legends affixed thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;COMPLIANCE WITH LAWS AND REGULATIONS.** The Plan and this Agreement are intended to comply with Section 25102(o) and Rule 701. Any provision of this Agreement that is inconsistent with Section 25102(o) or Rule 701 shall, without further act or amendment by the Company or the Committee, be reformed to comply with the requirements of Section 25102(o) and/or Rule 701. The exercise of this Option and the issuance and transfer of Shares shall be subject to compliance by the Company and Optionee with all applicable requirements of federal, state and foreign securities laws and with all applicable requirements of any stock exchange on which the Common Stock may be listed at the time of such issuance or transfer. Optionee understands that the Company is under no obligation to register or qualify the Shares with the SEC, any state or foreign securities commission or any stock exchange to effect such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;NONTRANSFERABILITY OF OPTION.** This Option may not be transferred in any manner other than by will or by the laws of descent and distribution, and, with respect to NQSOs, by instrument to a testamentary trust in which the options are to be passed to beneficiaries upon the death of the trustor (settlor) or a revocable trust, or by gift to "immediate family" as that term is defined in 17 C.F.R. 240.16a-1(e), and may be exercised during the lifetime of Optionee only by Optionee or in the event of Optionee's incapacity, by Optionee's legal representative. The terms of this Option shall be binding upon the executors, administrators, successors and assigns of Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;COMPANY'S REPURCHASE OPTION FOR UNVESTED SHARES.** If Optionee is Terminated for any reason, or no reason, including without limitation, Optionee's death, Disability, voluntary resignation or termination by the Company with or without Cause, then the Company and/or its assignee(s) shall have the option to repurchase all or a portion of the

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Optionee's Unvested Shares (as defined in Section 2.2 of this Agreement) as of the Termination Date on the terms and conditions set forth in this Section 7 (the "***Repurchase Option***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination and Termination Date</u>.** In case of any dispute as to whether Optionee is Terminated, the Committee shall have discretion to determine whether Optionee has been Terminated and the effective date of such Termination (the "***Termination Date***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of Repurchase Option</u>.** Subject to the foregoing provisions of this Section, at any time within ninety (90) days after the Optionee's Termination Date (or, in the case of securities issued upon exercise of this Option after the Optionee's Termination Date, within ninety (90) days after the date of such exercise), the Company and/or its assignee(s), may elect to repurchase any or all the Optionee's Unvested Shares by giving Optionee written notice of exercise of the Repurchase Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Calculation of Repurchase Price for Unvested Shares</u>.** The Company or its assignee shall have the option to repurchase from Optionee (or from Optionee's personal representative as the case may be) the Unvested Shares at Optionee's Exercise Price, as such may be proportionately adjusted for any stock split or similar change in the capital structure of the Company as set forth in Section 2.2 of the Plan (the "***Repurchase Price***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment of Repurchase Price</u>.** The Repurchase Price shall be payable, at the option of the Company or its assignee, by check or by cancellation of all or a portion of any outstanding indebtedness owed by Optionee to the Company and/or such assignee, or by any combination thereof. The Repurchase Price shall be paid without interest within the term of the Repurchase Option as described in Section 7.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Right of Termination Unaffected</u>.** Nothing in this Agreement shall be construed to limit or otherwise affect in any manner whatsoever the right or power of the Company (or any Parent or Subsidiary of the Company) to terminate Optionee's employment or other relationship with Company (or any Parent or Subsidiary of the Company) at any time, for any reason or no reason, with or without Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIONS ON TRANSFER.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Disposition of Shares</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Optionee hereby agrees that Optionee shall not sell, transfer, assign, pledge, or otherwise dispose of or encumber any of the Shares or any right or interest therein, whether voluntarily or by operation of law, or by gift or otherwise (each, a "***Transfer***") without the prior written consent of the Company, upon duly authorized action of its Board of Directors (the "***Board***"). The Company may withhold consent for any legitimate corporate purpose, as determined by the Board. Examples of the basis for the Company to withhold its consent include, without limitation, (i) if such Transfer to individuals, companies or any other form of entity identified by the Company as a potential competitor or considered by the Company to be unfriendly; or (ii) if such Transfer increases the risk of the Company having a class of security held of record by 2,000 or more persons, or 500 or more persons who are not

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accredited investors (as such term is defined by the U.S. Securities and Exchange Commission (the "***SEC***")), as described in Section 12(g) of the 1934 Act and any related regulations, or otherwise requiring the Company to register any class of securities under the 1934 Act; or (iii) if such Transfer would result in the loss of any federal or state securities law exemption relied upon by the Company in connection with the initial issuance of such shares or the issuance of any other securities; or (iv) if such Transfer is facilitated in any manner by any public posting, message board, trading portal, internet site, or similar method of communication, including without limitation any trading portal or internet site intended to facilitate secondary transfers of securities; or (v) if such Transfer is to be effected in a brokered transaction; or (vi) if such Transfer represents a Transfer of less than all of the shares then held by the stockholder and its affiliates or is to be made to more than a single transferee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If Optionee desires to Transfer any Shares, then Optionee will first give written notice to the Company. The notice must name the proposed transferee and state the number of Shares to be transferred, the proposed consideration, and all other terms and conditions of the proposed transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;At the option of the Company, Optionee will be obligated to pay to the Company a reasonable transfer fee related to the costs and time of the Company and its legal and other advisors related to any proposed Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Optionee shall have provided the Company with written assurances, in form and substance satisfactory to counsel for the Company, that (i) the proposed disposition does not require registration of the Shares under the 1934 Act or under any state or foreign securities laws, and (ii) all appropriate actions necessary for compliance with the registration and qualification requirements of the 1934 Act and any state or foreign securities laws, or of any exemption from registration or qualification, available thereunder (including Rule 144) have been taken.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Optionee shall have provided the Company with written assurances, in form and substance satisfactory to the Company, that the proposed disposition will not result in the contravention of any transfer restrictions applicable to the Shares pursuant to the provisions of the regulations promulgated under Section 25102(o), Rule 701 or under any other applicable securities laws or adversely affect the Company's ability to rely on the exemption(s) from registration under the Securities Act or under any other applicable securities laws for the grant of the Option, the issuance of Shares thereunder or any other issuance of securities under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Any Transfer, or purported Transfer, of Shares not made in strict compliance with this Section will be null and void, will not be recorded on the books of the Company and will not be recognized by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;The foregoing restriction on Transfer will terminate upon the date securities of the Company are first offered to the public pursuant to a registration statement filed with, and declared effective by, the SEC under the Securities Act of 1933, as amended.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Optionee further acknowledges that the Shares are subject to the Company's bylaws, as may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferee Obligations</u>.** Each person (other than the Company) to whom the Shares are transferred by means of one of the permitted transfers specified in this Agreement must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Company that such person is bound by the provisions of this Agreement and that the transferred Shares are subject to (i) both the Company's Repurchase Option and the Company's Right of First Refusal granted hereunder and (ii) the market stand-off provisions of Section 9 below, to the same extent such Shares would be so subject if retained by Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.&nbsp;&nbsp;&nbsp;&nbsp;MARKET STANDOFF AGREEMENT.** Optionee agrees that, subject to any early release provisions that apply pro rata to stockholders of the Company according to their holdings of Common Stock (determined on an as-converted into Common Stock basis), Optionee will not, if requested by the managing underwriter(s) in the initial underwritten sale of Common Stock of the Company to the public pursuant to a registration statement filed with, and declared effective by, the SEC under the Securities Act (the "***IPO***"), for a period of up to one hundred eighty (180) days following the effective date of the registration statement relating to such IPO, directly or indirectly sell, offer to sell, grant any option for the sale of, or otherwise dispose of any Common Stock or securities convertible into Common Stock, <u>except</u> <u>for:</u> (i) transfers of Shares permitted under Section 10.6 hereof so long as such transferee furnishes to the Company and the managing underwriter their written consent to be bound by this Section 9 as a condition precedent to such transfer; and (ii) sales of any securities to be included in the registration statement for the IPO. For the avoidance of doubt, the provisions of this Section shall only apply to the IPO. The restricted period shall in any event terminate two (2) years after the closing date of the IPO. In order to enforce the foregoing covenant, the Company shall have the right to place restrictive legends on the certificates representing the Shares subject to this Section and to impose stop transfer instructions with respect to the Shares until the end of such period. Optionee further agrees to enter into any agreement reasonably required by the underwriters to implement the foregoing restrictions on transfer. For the avoidance of doubt, the foregoing provisions of this Section shall not apply to any registration of securities of the Company (a) under an employee benefit plan or (b) in a merger, consolidation, business combination or similar transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.&nbsp;&nbsp;&nbsp;&nbsp;COMPANY'S RIGHT OF FIRST REFUSAL.** Unvested Shares may not be sold or otherwise transferred, or pledged by Optionee or made subject to a security interest, pledge or other lien without the Company's prior written consent, which may be withheld in the Company's sole and absolute discretion. Subject to Section 8, before any Vested Shares held by Optionee or any transferee of such Vested Shares (either sometimes referred to herein as the "***Holder***") may be sold or otherwise transferred (including, without limitation, a transfer by gift or operation of law), the Company and/or its assignee(s) will have a right of first refusal to purchase the Vested Shares to be sold or transferred (the "***Offered Shares***") on the terms and conditions set forth in this Section (the "***Right of First Refusal***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Proposed Transfer</u>.** The Holder of the Offered Shares will deliver to the Company a written notice (the "***Notice***") stating: (i) the Holder's bona fide

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intention to sell or otherwise transfer the Offered Shares; (ii) the name and address of each proposed purchaser or other transferee (the "***Proposed Transferee***"); (iii) the number of Offered Shares to be transferred to each Proposed Transferee; (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Offered Shares (the "***Offered Price***"); and (v) that the Holder acknowledges this Notice is an offer to sell the Offered Shares to the Company and/or its assignee(s) pursuant to the Company's Right of First Refusal at the Offered Price as provided for in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of Right of First Refusal</u>.** At any time within thirty (30) days after the date of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all (or, with the consent of the Holder, less than all) the Offered Shares proposed to be transferred to any one or more of the Proposed Transferees named in the Notice, at the purchase price, determined as specified below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Purchase Price</u>.** The purchase price for the Offered Shares purchased under this Section will be the Offered Price, *provided* that if the Offered Price consists of no legal consideration (as, for example, in the case of a transfer by gift) then the purchase price will be the fair market value of the Offered Shares as determined in good faith by the Committee. If the Offered Price includes consideration other than cash, then the value of the non-cash consideration, as determined in good faith by the Committee, will conclusively be deemed to be the cash equivalent value of such non-cash consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment</u>.** Payment of the purchase price for the Offered Shares will be payable, at the option of the Company and/or its assignee(s) (as applicable), by check or by cancellation of all or a portion of any outstanding purchase money indebtedness owed by the Holder to the Company (or to such assignee, in the case of a purchase of Offered Shares by such assignee) or by any combination thereof. The purchase price will be paid without interest within sixty (60) days after the Company's receipt of the Notice, or, at the option of the Company and/or its assignee(s), in the manner and at the time(s) set forth in the Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Holder's Right to Transfer</u>**. If all of the Offered Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section, then the Holder may sell or otherwise transfer such Offered Shares to each Proposed Transferee at the Offered Price or at a higher price, *provided* that (i) such sale or other transfer is consummated within ninety (90) days after the date of the Notice, (ii) any such sale or other transfer is effected in compliance with all applicable securities laws, and (iii) each Proposed Transferee agrees in writing that the provisions of this Section will continue to apply to the Offered Shares in the hands of such Proposed Transferee. If the Offered Shares described in the Notice are not transferred to each Proposed Transferee within such ninety (90) day period, then a new Notice must be given to the Company pursuant to which the Company will again be offered the Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exempt Transfers</u>.** Notwithstanding anything to the contrary in this Section, the following transfers of Vested Shares will be exempt from the Right of First Refusal: (i) the transfer of any or all of the Vested Shares during Optionee's lifetime by gift or on

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Optionee's death by will or intestacy to any member(s) of Optionee's "Immediate Family" (as defined below) or to a trust for the benefit of Optionee and/or member(s) of Optionee's Immediate Family, *provided* that each transferee or other recipient agrees in a writing satisfactory to the Company that the provisions of this Section will continue to apply to the transferred Vested Shares in the hands of such transferee or other recipient; (ii) any transfer of Vested Shares made pursuant to a statutory merger, statutory consolidation of the Company with or into another corporation or corporations or a conversion of the Company into another form of legal entity (except that the Right of First Refusal will continue to apply thereafter to such Vested Shares, in which case the surviving corporation of such merger or consolidation or the resulting entity of such conversion shall succeed to the rights of the Company under this Section unless the agreement of merger or consolidation or conversion expressly otherwise provides); or (iii) any transfer of Vested Shares pursuant to the winding up and dissolution of the Company. As used herein, the term "***Immediate Family***" will mean Optionee's spouse, the lineal descendant or antecedent, father, mother, brother or sister, child, adopted child, grandchild or adopted grandchild of Optionee or Optionee's spouse, or the spouse of any of the above or Spousal Equivalent, as defined herein. As used herein, a person is deemed to be a "***Spousal Equivalent***" provided the following circumstances are true: (i) irrespective of whether or not the Optionee and the Spousal Equivalent are the same sex, they are the sole spousal equivalent of the other for the last twelve (12) months, (ii) they intend to remain so indefinitely, (iii) neither are married to anyone else, (iv) both are at least 18 years of age and mentally competent to consent to contract, (v) they are not related by blood to a degree of closeness that which would prohibit legal marriage in the state or foreign jurisdiction in which they legally reside, (vi) they are jointly responsible for each other's common welfare and financial obligations, and (vii) they reside together in the same residence for the last twelve (12) months and intend to do so indefinitely.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Right of First Refusal</u>.** The Right of First Refusal will terminate as to all Shares: (i) on the effective date of the first sale of Common Stock of the Company to the general public pursuant to a registration statement filed with and declared effective by the SEC under the Securities Act (other than a registration statement relating solely to the issuance of Common Stock pursuant to a business combination or an employee incentive or benefit plan); (ii) on any transfer or conversion of Shares made pursuant to a statutory merger or statutory consolidation of the Company with or into another corporation or corporations if the common stock of the surviving corporation or any direct or indirect parent corporation thereof is registered under the Exchange Act; or (iii) on any transfer or conversion of Shares made pursuant to a statutory conversion of the Company into another form of legal entity if the common equity (or comparable equity security) of entity resulting from such conversion is registered under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Encumbrances on Vested Shares</u>.** Optionee may grant a lien or security interest in, or pledge, hypothecate or encumber Vested Shares only if each party to whom such lien or security interest is granted, or to whom such pledge, hypothecation or other encumbrance is made, agrees in a writing satisfactory to the Company that: (i) such lien, security interest, pledge, hypothecation or encumbrance will not adversely affect or impair the Right of First Refusal or the rights of the Company and/or its assignee(s) with respect thereto and will not apply to such Vested Shares after they are acquired by the Company and/or its assignees under

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this Section; and (ii) the provisions of this Agreement will continue to apply to such Vested Shares in the hands of such party and any transferee of such party. Optionee may not grant a lien or security interest in, or pledge, hypothecate or encumber, any Unvested Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.&nbsp;&nbsp;&nbsp;&nbsp;RIGHTS AS A STOCKHOLDER.** Optionee shall not have any of the rights of a stockholder with respect to any Shares unless and until such Shares are issued to Optionee. Subject to the terms and conditions of this Agreement, Optionee will have all of the rights of a stockholder of the Company with respect to the Shares from and after the date that Shares are issued to Optionee pursuant to, and in accordance with, the terms of the Exercise Agreement until such time as Optionee disposes of the Shares or the Company and/or its assignee(s) exercise(s) the Repurchase Option or the Right of First Refusal. Upon an exercise of the Repurchase Option or the Right of First Refusal, Optionee will have no further rights as a holder of the Shares so purchased upon such exercise, other than the right to receive payment for the Shares so purchased in accordance with the provisions of this Agreement, and Optionee will promptly surrender the stock certificate(s) evidencing the Shares so purchased to the Company for transfer or cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.&nbsp;&nbsp;&nbsp;&nbsp;ESCROW.** As security for Optionee's faithful performance of this Agreement, Optionee agrees, immediately upon receipt of the stock certificate(s) evidencing the Shares, to deliver such certificate(s), together with two (2) copies of a blank Stock Power and Assignment Separate from Stock Certificate in the form attached to the Exercise Agreement (the "***Stock Powers***"), both executed by Purchaser (and Purchaser's spouse, if any) (with the transferee, certificate number, date and number of Shares left blank), to the Secretary of the Company or other designee of the Company (the "***Escrow Holder***"), who is hereby appointed to hold such certificate(s) and Stock Powers in escrow and to take all such actions and to effectuate all such transfers and/or releases of such Shares as are in accordance with the terms of this Agreement. Optionee and the Company agree that Escrow Holder will not be liable to any party to this Agreement (or to any other party) for any actions or omissions unless Escrow Holder is grossly negligent or intentionally fraudulent in carrying out the duties of Escrow Holder under this Agreement. Escrow Holder may rely upon any letter, notice or other document executed with any signature purported to be genuine and may rely on the advice of counsel and obey any order of any court with respect to the transactions contemplated by this Agreement and will not be liable for any act or omission taken by Escrow Holder in good faith reliance on such documents, the advice of counsel or a court order. The Shares will be released from escrow upon termination of both the Repurchase Option and the Right of First Refusal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIVE LEGENDS AND STOP-TRANSFER ORDERS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>.** Optionee understands and agrees that the Company will place the legends set forth below or similar legends on any stock certificate(s) evidencing the Shares, together with any other legends that may be required by state, federal or foreign securities laws, the Company's Certificate of Incorporation or Bylaws, any other agreement between Optionee and the Company, or any agreement between Optionee and any third party (and any other legend(s) that the Company may become obligated to place on the stock certificate(s) evidencing

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the Shares under the terms of any agreement to which the Company is or may become bound or obligated):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND APPLICABLE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON RESALE AND TRANSFER, INCLUDING THE REPURCHASE OPTION AND RIGHT OF FIRST REFUSAL HELD BY THE ISSUER AND/OR ITS ASSIGNEE(S) AS SET FORTH IN A STOCK OPTION AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH SALE AND TRANSFER RESTRICTIONS, INCLUDING THE REPURCHASE OPTION AND RIGHT OF FIRST REFUSAL, ARE BINDING ON TRANSFEREES OF THESE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A MARKET STANDOFF RESTRICTION AS SET FORTH IN A CERTAIN STOCK OPTION AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT, THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS AFTER THE EFFECTIVE DATE OF CERTAIN PUBLIC OFFERINGS OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES OF THESE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Stop-Transfer Instructions</u>.** Optionee agrees that, to ensure compliance with the restrictions imposed by this Agreement, the Company may issue appropriate "stop-transfer" instructions to its transfer agent, if any, and if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Refusal to Transfer</u>.** The Company will not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares, or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares have been so transferred.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.&nbsp;&nbsp;&nbsp;&nbsp;CERTAIN TAX CONSEQUENCES.** Set forth below is a brief summary as of the Effective Date of the Plan of some of the federal tax consequences of exercise of the Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of ISO</u>.** If the Option qualifies as an ISO, there will be no regular federal income tax liability upon the exercise of the Option, although the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price will be treated as a tax preference item for federal alternative minimum tax purposes and may subject the Optionee to the alternative minimum tax in the year of exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of Nonqualified Stock Option</u>.** If the Option does not qualify as an ISO, there may be a regular federal income tax liability upon the exercise of the Option. Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. If Optionee is a current or former employee of the Company, the Company may be required to withhold from Optionee's compensation or collect from Optionee and pay to the applicable taxing authorities an amount equal to a percentage of this compensation income at the time of exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Disposition of Shares. The following tax consequences may apply</u> <u>upon disposition of the Shares</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Incentive Stock Options</u>. If the Shares are held for more than twelve (12) months after the date of purchase of the Shares pursuant to the exercise of an ISO and are disposed of more than two (2) years after the Date of Grant, any gain realized on disposition of the Shares will be treated as long term capital gain for federal income tax purposes. If Vested Shares purchased under an ISO are disposed of within the applicable one (1) year or two (2) year period, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates in the year of the disposition) to the extent of the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. To the extent the Shares were exercised prior to vesting coincident with the filing of an 83(b) Election, the amount taxed because of a disqualifying disposition will be based upon the excess, if any, of the fair market value on the date of <u>vesting</u> over the exercise price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Nonqualified Stock Options</u>. If the Shares are held for more than twelve (12) months after the date of purchase of the Shares pursuant to the exercise of an NQSO, any gain realized on disposition of the Shares will be treated as long term capital gain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 83(b) Election for Unvested Shares</u>.** With respect to Unvested Shares, which are subject to the Repurchase Option, unless an election is filed by Optionee with the Internal Revenue Service (and, if necessary, the proper state taxing authorities), within thirty (30) days of the purchase of the Unvested Shares, electing pursuant to Section 83(b) of the Code (and similar state tax provisions, if applicable) to be taxed currently on any difference between

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the Exercise Price of the Unvested Shares and their Fair Market Value on the date of purchase, there may be a recognition of taxable income (including, where applicable, alternative minimum taxable income) to Optionee, measured by the excess, if any, of the Fair Market Value of the Unvested Shares at the time they cease to be Unvested Shares, over the Exercise Price of the Unvested Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.&nbsp;&nbsp;&nbsp;&nbsp;GENERAL PROVISIONS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation</u>.** Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or the Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>.** The Plan, the Grant Notice and the Exercise Agreement are each incorporated herein by reference. This Agreement, the Grant Notice, the Plan and the Exercise Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all prior undertakings and agreements with respect to such subject matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.&nbsp;&nbsp;&nbsp;&nbsp;NOTICES**. Any and all notices required or permitted to be given to a party pursuant to the provisions of this Agreement will be in writing and will be effective and deemed to provide such party sufficient notice under this Agreement on the earliest of the following: (i) at the time of personal delivery, if delivery is in person; (ii) at the time an electronic confirmation of receipt is received, if delivery is by email; (iii) at the time of transmission by facsimile, addressed to the other party at its facsimile number specified herein (or hereafter modified by subsequent notice to the parties hereto), with confirmation of receipt made by both telephone and printed confirmation sheet verifying successful transmission of the facsimile; (iv) one (1) business day after deposit with an express overnight courier for United States deliveries, or two (2) business days after such deposit for deliveries outside of the United States, with proof of delivery from the courier requested; or (v) three (3) business days after deposit in the United States mail by certified mail (return receipt requested) for United States deliveries. Any notice for delivery outside the United States will be sent by email, facsimile or by express courier. Any notice not delivered personally or by email will be sent with postage and/or other charges prepaid and properly addressed to Optionee at the last known address or facsimile number on the books of the Company, or at such other address or facsimile number as such other party may designate by one of the indicated means of notice herein to the other parties hereto or, in the case of the Company, to it at its principal place of business. Notices to the Company will be marked "Attention: Chief Financial Officer." Notices by facsimile shall be machine verified as received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.&nbsp;&nbsp;&nbsp;&nbsp;SUCCESSORS AND ASSIGNS.** The Company may assign any of its rights under this Agreement including its rights to purchase Shares under both the Right of First Refusal and Repurchase Option. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Optionee and Optionee's heirs, executors, administrators, legal representatives, successors and assigns.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING LAW.** This Agreement shall be governed by and construed in accordance with the internal laws of the State of California as such laws are applied to agreements between California residents entered into and to be performed entirely within California. If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.&nbsp;&nbsp;&nbsp;&nbsp;FURTHER ASSURANCES.** The parties agree to execute such further documents and instruments and to take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.&nbsp;&nbsp;&nbsp;&nbsp;TITLES AND HEADINGS.** The titles, captions and headings of this Agreement are included for ease of reference only and will be disregarded in interpreting or construing this Agreement. Unless otherwise specifically stated, all references herein to "sections" and "exhibits" will mean "sections" and "exhibits" to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.&nbsp;&nbsp;&nbsp;&nbsp;COUNTERPARTS.** This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together shall constitute one and the same agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.&nbsp;&nbsp;&nbsp;&nbsp;SEVERABILITY.** If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement. Notwithstanding the forgoing, if the value of this Agreement based upon the substantial benefit of the bargain for any party is materially impaired, which determination as made by the presiding court or arbitrator of competent jurisdiction shall be binding, then both parties agree to substitute such provision(s) through good faith negotiations.

\* \* \* \* \*

**Attachments:**

<u>Annex A</u>: Form of Stock Option Exercise Notice and Agreement

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**<u>Annex A</u>**

**FORM OF STOCK OPTION EXERCISE NOTICE AND AGREEMENT**

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**STOCK OPTION EXERCISE NOTICE AND AGREEMENT** 

**KEEP TRUCKIN, INC.**

**2013 EQUITY INCENTIVE PLAN**

**\*<u>NOTE</u>: *You <u>must</u> sign this Notice on Page 3 before submitting it to Keep Truckin, Inc. (the "Company").***

**OPTIONEE INFORMATION:** *Please provide the following information about yourself ("****Optionee****"):* 

Name:

Social Security Number/ Social Insurance Number:

Address:

Employee Number:

**OPTION INFORMATION:** *Please provide this information on the option being exercised (the "****Option****"):* 

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| | |
|:---|:---|
| Grant No. |  |
| Date of Grant: | Type of Stock Option: |
| Option Price per Share: $ | □ Nonqualified (NQSO)<br>□ Incentive (ISO) |
| Total number of shares of Common Stock of the Company subject to the Option: |  |

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**EXERCISE INFORMATION:**

Number of shares of Common Stock of the Company for which the Option is now being exercised [<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> ]. (These shares are referred to below as the "***Purchased Shares***.")

Total Exercise Price Being Paid for the Purchased Shares: $

Form of payment enclosed ***[check all that apply]***:

□&nbsp;&nbsp;&nbsp;&nbsp;Check for $<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, payable to "***Keep Truckin, Inc.***"

□&nbsp;&nbsp;&nbsp;&nbsp;Certificate(s) for <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> shares of Common Stock of the Company. These shares will be valued as of the date this notice is received by the Company. ***[Requires Company consent.]***

□&nbsp;&nbsp;&nbsp;&nbsp;By tender of full recourse promissory note issued by Optionee in the amount of $<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

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**AGREEMENTS, REPRESENTATIONS AND ACKNOWLEDGMENTS OF OPTIONEE:** By signing this Stock Option Exercise Notice and Agreement, Optionee hereby agrees with, and represents to, the Company as follows:

**1. Terms Governing.** I acknowledge and agree with the Company that I am acquiring the Purchased Shares by exercise of this Option subject to all other terms and conditions of the Notice of Stock Option Grant and the Stock Option Agreement that govern the Option, including without limitation the terms of the Company's 2013 Equity Incentive Plan, as it may be amended (the "***Plan***").

**2. Investment Intent; Securities Law Restrictions.** I represent and warrant to the Company that I am acquiring and will hold the Purchased Shares for investment for my account only, and not with a view to, or for resale in connection with, any "distribution" of the Purchased Shares within the meaning of the Securities Act of 1933, as amended (the "***Securities Act***") or applicable securities laws. I understand that the Purchased Shares have not been registered under the Securities Act by reason of a specific exemption from such registration requirement and that the Purchased Shares must be held by me indefinitely, unless they are subsequently registered under the Securities Act or I obtain an opinion of counsel (in form and substance satisfactory to the Company and its counsel) that registration is not required. I acknowledge that the Company is under no obligation to register the Purchased Shares under the Securities Act or under any other securities law.

**3. Restrictions on Transfer: Rule 144.** I will not sell, transfer or otherwise dispose of the Purchased Shares in violation of the Securities Act, the Securities Exchange Act of 1934, or the rules promulgated thereunder (including Rule 144 under the Securities Act described below "Rule 144")) or of any other applicable securities laws. I am aware of Rule 144, which permits limited public resales of securities acquired in a non-public offering, subject to satisfaction of certain conditions, which include (without limitation) that: (a) certain current public information about the Company is available; (b) the resale occurs only after the holding period required by Rule 144 has been met; (c) the sale occurs through an unsolicited "broker's transaction"; and (d) the amount of securities being sold during any three-month period does not exceed specified limitations. I am aware of similar restrictions under other securities laws which may be applicable as a result of my address of residence listed on the first page hereof. I understand that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company has no plans to satisfy these conditions in the foreseeable future.

**4. Access to Information; Understanding of Risk in Investment.** I acknowledge that I have received and had access to such information as I consider necessary or appropriate for deciding whether to invest in the Purchased Shares and that I had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the issuance of the Purchased Shares. I am aware that my investment in the Company is a speculative investment that has limited liquidity and is subject to the risk of complete loss. I am able, without impairing my financial condition, to hold the Purchased Shares for an indefinite period and to suffer a complete loss of my investment in the Purchased Shares.

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**5. Rights of First Refusal; Market Stand-off.** I acknowledge that the Purchased Shares remain subject to the Company's Right of First Refusal and the market stand-off covenants (sometimes referred to as the "lock-up"), all in accordance with the applicable Notice of Stock Option Grant and the Stock Option Agreement that govern the Option.

**6. Form of Ownership.** I acknowledge that the Company has encouraged me to consult my own adviser to determine the form of ownership of the Purchased Shares that is appropriate for me. In the event that I choose to transfer my Purchased Shares to a trust, I agree to sign a Stock Transfer Agreement. In the event that I choose to transfer my Purchased Shares to a trust that is not an eligible revocable trust, I also acknowledge that the transfer will be treated as a "disposition" for tax purposes. As a result, the favorable ISO tax treatment will be unavailable and other unfavorable tax consequences may occur.

**7. Investigation of Tax Consequences.** I acknowledge that the Company has encouraged me to consult my own adviser to determine the tax consequences of acquiring the Purchased Shares at this time.

**8. Other Tax Matters.** I agree that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner that minimizes my tax liabilities. I will not make any claim against the Company or its Board, officers or employees related to tax liabilities arising from my options or my other compensation. In particular, I acknowledge that my options (including the Option) are exempt from section 409A of the Internal Revenue Code only if the exercise price per share is at least equal to the fair market value per share of the Common Stock at the time the option was granted by the Board, and that if I am a resident of Canada, my options are subject to applicable tax laws including the *Income Tax Act* (Canada) and the rules and regulations set forth by the Canada Revenue Agency. Since shares of the Common Stock are not traded on an established securities market, the determination of their fair market value was made by the Board and/or by an independent valuation firm retained by the Company. I acknowledge that there is no guarantee in either case that the Internal Revenue Service or the Canada Revenue Agency will agree with the valuation, and I will not make any claim against the Company or its Board, officers or employees in the event that the Internal Revenue Service asserts that the valuation was too low.

**9. Spouse Consent.** I agree to seek the consent of my spouse to the extent required by the Company to enforce the foregoing.

**10. Tax Withholding.** As a condition of exercising this Option, I agree to make adequate provision for foreign, federal, state or other tax withholding obligations, if any, which arise upon the grant, vesting or exercise of this Option, or disposition of the Purchased Shares, whether by withholding, direct payment to the Company, or otherwise.

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The undersigned hereby executes and delivers this Stock Option Exercise Notice and Agreement to agrees to be bound by its terms

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| | |
|:---|:---|
| **SIGNATURE:** | **DATE:** |
| Optionee's Name: | |

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**[Signature Page to Stock Option Exercise Notice and Agreement]**

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*U.S. Two Tier (Need Not Be Present) RSU Grant*

**MOTIVE TECHNOLOGIES, INC.** 

**RESTRICTED STOCK UNIT GRANT NOTICE**

**(AMENDED AND RESTATED 2013 EQUITY INCENTIVE PLAN)**

Motive Technologies, Inc. (the "***Company***"), pursuant to its Amended and Restated 2013 Equity Incentive Plan (the "***Plan***"), hereby awards to the person named below ("***Participant***") a Restricted Stock Unit Award for the number of Shares ("***Restricted Stock Units***") set forth below (this "***Award***"). This Award is subject to all of the terms and conditions as set forth in this Restricted Stock Unit Grant Notice (this "***Grant Notice***"), as well as the Plan and the Restricted Stock Unit Award Agreement (the "***Agreement***"), both of which are attached hereto and incorporated herein in their entirety. Capitalized terms not explicitly defined herein shall have the meanings set forth in the Plan or the Agreement. In the event of any conflict between the terms in this Grant Notice, the Agreement and/or the Plan, the terms of the Plan shall control.

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| | |
|:---|:---|
| Participant: | «Name» |
| Date of Grant: | «Grant_Date» |
| Vesting Commencement Date: | «Vest_Date» |
| Number of Restricted Stock Units: | «Shares» |
| Expiration Date: | The earlier to occur of: (a) the date on which settlement of all vested Restricted Stock Units granted hereunder occurs and (b) the seventh (7th) anniversary of the Date of Grant. |

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**Vesting Schedule:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**Settlement of Restricted Stock Units is conditioned on satisfaction of two vesting requirements before the Expiration Date (or earlier termination of Restricted Stock Units pursuant to the Agreement or the Plan): A time and service based requirement (the "***Time and Service Based Requirement***") and a liquidity event requirement (the "***Liquidity Event Requirement***"), each as described below. Restricted Stock Units will only vest as set forth in clauses (b) and (c) below if both of these two requirements are satisfied on or before the Expiration Date (or earlier termination of the Restricted Stock Units pursuant to the Agreement or the Plan).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**<u>Time and Service Based Requirement</u>: Provided Participant is in Continuous Service Status (as defined below) on each applicable date, the Time and Service Based Requirement will be satisfied ***as described in Carta's online award profile Vesting Schedule*** of the total number of RSUs subject to this Award on each of the Quarterly Installment Dates occurring on or after the Vesting Commencement Date. "Continuous Service Status" means Participant's continuous services as an employee, officer, director or consultant to the Company or a Subsidiary or Parent of the Company has not Terminated (as such terms are defined in the Restricted Stock Unit Grant Notice. "Quarterly Installment Date" means

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each of March 15, June 15, September 15 and December 15 of a given calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**<u>Liquidity Event Requirement</u>: The Liquidity Event Requirement will be satisfied on the first to occur of (i) the effective date of a registration statement of the Company's equity securities to the public filed under the Securities Act of 1933, as amended (an "***IPO***"), (ii) an Acquisition, provided that the Acquisition constitutes a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the Company as defined in the regulations under Section 409A of the Code (a "***Change in Control***"), or (iii) the Company's equity securities become publicly traded on a nationally recognized exchange other than pursuant to an IPO and/or a Change in Control (a "***Public Trading Event***") (the earlier of (i), (ii) and (iii) being an "***Initial Vesting Event***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Restricted Stock Units Vested at Initial Vesting Event</u>. If at the time of the Initial Vesting Event, Participant is not in Continuous Service Status and did not meet the Time and Service Based Requirement with respect to any portion of the Restricted Stock Units, then no portion of the Restricted Stock Units shall vest. If at the time of the Initial Vesting Event, Participant is in Continuous Service Status or has ceased Continuous Service Status but did meet the Time and Service Based Requirement with respect to all or any portion of the Restricted Stock Units, then the Restricted Stock Units shall vest calculated as set forth in clause (a)(1) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Restricted Stock Units Vested after Initial Vesting Event</u>. If Participant is in Continuous Service Status on the date of the Initial Vesting Event, then with respect to Restricted Stock Units that have not vested as of such Initial Vesting Event, vesting shall continue under the Time and Service Based Requirement as set forth in clause (a)(1) above (each vesting date a "***Subsequent Vesting Event***").

**Issuance Schedule:** Subject to adjustment as provided for in Section 3 of the Agreement, one Share will be issued for each Restricted Stock Unit that vests at the time set forth in Section 5 of the Agreement.

**Additional Terms/Acknowledgements:** Participant acknowledges receipt of, and understands and agrees to, this Grant Notice, the Agreement and the Plan. Participant further acknowledges that as of the Date of Grant, this Grant Notice, the Agreement and the Plan set forth the entire understanding between Participant and the Company regarding the acquisition of Shares pursuant to this Award specified above and supersede all prior oral and written agreements on the terms of this Award, with the exception, if applicable, of any compensation recovery policy that is adopted by the Company or is otherwise required by applicable law. Participant acknowledges that there may be tax consequences as a result of the Restricted Stock Units (including upon grant, vesting or settlement of the Restricted Stock Units and/or disposition of the Shares) and that Participant should consult a tax adviser generally about the taxation of the Restricted Stock Units. Participant agrees and acknowledges that the Time and Service Based Requirement may

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change prospectively in the event that Participant's service status changes (for example, during a leave of absence or a change from full-time to part-time status).

By accepting this Award, Participant acknowledges having received and read the Grant Notice, the Agreement and the Plan and agrees to all of the terms and conditions set forth in these documents. Participant consents to receive Plan documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.

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| | |
|:---|:---|
| **MOTIVE TECHNOLOGIES, INC.** | **PARTICIPANT** |
| By: |  |
| Signature | Signature |
| Title: | Date: |
| Date: |  |

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**ATTACHMENTS**:&nbsp;&nbsp;&nbsp;&nbsp;Attachment I: Award Agreement

Attachment II: Amended and Restated 2013 Equity Incentive Plan

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**ATTACHMENT I** 

**MOTIVE TECHNOLOGIES, INC.**

**AMENDED AND RESTATED 2013 EQUITY INCENTIVE PLAN** 

**RESTRICTED STOCK UNIT AWARD AGREEMENT**

Pursuant to the Restricted Stock Unit Grant Notice (the "***Grant Notice***") and this Restricted Stock Unit Award Agreement (the "***Agreement***"), Motive Technologies, Inc. (the "***Company***") has awarded you ("***Participant***") a Restricted Stock Unit Award (this "***Award***") pursuant to the Company's Amended and Restated 2013 Equity Incentive Plan (the "***Plan***") for the number of Restricted Stock Units indicated in the Grant Notice. Capitalized terms not explicitly defined in this Agreement or the Grant Notice shall have the same meanings given to them in the Plan. The terms of Participant's Award, in addition to those set forth in the Grant Notice, are as follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;GRANT OF AWARD.** This Award represents the right to be issued on a future date one (1) Share for each Restricted Stock Unit that vests on the applicable vesting date(s) (subject to adjustment under Section 3 below) as indicated in the Grant Notice, subject to the limitations contained in the Grant Notice, this Agreement and/or the Plan. This Award was granted in consideration of Participant's services to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;VESTING.** Subject to the limitations contained in the Grant Notice, this Agreement and/or the Plan, Participant's Award will vest, if at all, in accordance with the vesting schedule provided in the Grant Notice. If Participant's Continuous Service Status terminates for any reason, all Restricted Stock Units for which vesting is no longer possible under the terms of the Grant Notice shall be automatically forfeited to the Company without consideration and at no cost to the Company, and all rights of Participant to such Restricted Stock Units shall immediately terminate. For the avoidance of doubt, if Participant's Continuous Service Status terminates prior to an Initial Vesting Event and Participant had <u>not</u> satisfied any portion of the Time and Service Based Requirement as of such termination of Continuous Service Status, then all Restricted Stock Units subject to this Award shall be automatically forfeited to the Company without consideration and at no cost to the Company, and all rights of Participant to this Award shall immediately terminate, in each case upon such termination of Continuous Service Status. In case of any dispute as to whether a termination of Continuous Service Status has occurred, the Board and/or the Committee, as applicable, shall have sole discretion to determine whether such termination has occurred and the effective date of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;NUMBER OF SHARES.** The number of Restricted Stock Units subject to Participant's Award may be adjusted from time to time for capital adjustments, as provided in Section 2.2 of the Plan. Any additional Restricted Stock Units, Shares, cash or other property that becomes subject to this Award pursuant to this Section 3, if any, shall be subject, in a manner determined by the Board and/or the Committee, as applicable, to the same forfeiture restrictions, restrictions on transferability, and time and manner of delivery as applicable to the other Restricted Stock Units and Shares covered by Participant's Award. Notwithstanding the provisions of this Section 3, no fractional Shares or rights for fractional Shares shall be created

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pursuant to this Section 3. Any fraction of a Share will not be issued but will either be paid in cash the Fair Market Value of such fraction of a Share or will be rounded down to the nearest whole Share, as determined by the Board and/or the Committee, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;COMPLIANCE WITH LAWS**. This Award will not be effective unless it is in compliance with all applicable federal and state securities laws, rules and regulations of any governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed or quoted, as they are in effect on the date of grant of this Award and also on the date of settlement of this Award. Notwithstanding any other provision in the Grant Notice, this Agreement or the Plan, the Company will have no obligation to issue or deliver certificates for Shares under this Award prior to (i) obtaining any approvals from governmental agencies that the Company determines are necessary or advisable, and/or (ii) compliance with any exemption, completion of any registration or other qualification of such Shares under any state or federal law or ruling of any governmental body that the Company determines to be necessary or advisable. The Company will be under no obligation to register the Shares with the Securities and Exchange Commission or to effect compliance with the exemption, registration, qualification or listing requirements of any state securities laws, stock exchange or automated quotation system, and the Company will have no liability for any inability or failure so do.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;DATE OF ISSUANCE**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;General**. Subject to the delayed settlement provisions set forth in Section 5(b) below and satisfaction of the Withholding Obligation set forth in Section 7 below, the Company will deliver to Participant one (1) Share for each Restricted Stock Unit that vests on the applicable vesting date(s) (subject to adjustment under Section 3 above, and subject to any different provisions in the Grant Notice or this Agreement) on the following schedule (each such date or event below, a "***Settlement Date***"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)&nbsp;&nbsp;&nbsp;&nbsp;**If the Initial Vesting Event is a Change in Control, then the Settlement Date for then-vested Restricted Stock Unit(s) will be as of immediately prior to the effective time of the Change of Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)&nbsp;&nbsp;&nbsp;&nbsp;**If the Initial Vesting Event is an IPO or a Public Trading Event, then the Settlement Date for then-vested Restricted Stock Unit(s) will occur on the earlier of (1) the next trading day following the expiration of the period provided in Section 11 below (the "***Lock-Up Period***"), and (2) a date determined by the Board or the Committee, as applicable, following the effectiveness of the IPO or the Public Trading Event, as applicable, that is not later than December 31 of the calendar year in which the applicable Restricted Stock Units vest, or, <u>if and only if</u> permitted in a manner that complies with Treasury Regulations Section 1.409A-1(b)(4), not later than the date that is the 15th day of the third calendar month of the applicable year following the year in which the applicable Restricted Stock Unit(s) are no longer subject to a "substantial risk of forfeiture" within the meaning of Treasury Regulations Section 1.409A-1(d).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)&nbsp;&nbsp;&nbsp;&nbsp;**In the case of any Restricted Stock Unit(s) that vest on a Subsequent Vesting Event, the Settlement Date for the Restricted Stock Unit(s) vesting on the applicable date will be a date determined by the Board or the Committee, as applicable, that is not later than December 31 of the calendar year in which the applicable Restricted Stock Unit(s) vest, or, <u>if and only if</u> permitted in a manner that complies with Treasury Regulations Section 1.409A-1(b)(4), not later than the date that is the 15th day of the third calendar month of the applicable year following the year in which the applicable Restricted Stock Unit(s) are no longer subject to a "substantial risk of forfeiture" within the meaning of Treasury Regulations Section 1.409A-1(d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;Delayed Settlement.** Notwithstanding Section 5(a) above, following the IPO or a Public Trading Event, as applicable, in the event that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)&nbsp;&nbsp;&nbsp;&nbsp;**Participant is subject to a Company policy permitting certain individuals to sell shares only during certain "window" periods in effect from time to time or Participant is otherwise prohibited from selling shares of the Company's Common Stock in the public market and any shares covered by the Award are scheduled to be delivered on a day (the "***Original Settlement Date***") that (1) does not occur during an open "window period" applicable to Participant, as determined by the Company in accordance with such policy, or (2) does not occur on a date when Participant is otherwise permitted to sell shares of the Company's Common Stock on the open market (including under a previously established written trading plan that meets the requirements of Rule 10b5-1 under the Exchange Act and was entered into in compliance with the Company's policies), *and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)&nbsp;&nbsp;&nbsp;&nbsp;**either (1) a Withholding Obligation does not apply, or (2) the Company decides, prior to the Original Settlement Date, (A) not to satisfy the Withholding Obligation by withholding Shares from the Shares otherwise due to Participant under this Award on the Original Settlement Date, (B) not to permit Participant to enter into a "same day sale" commitment with a broker- dealer pursuant to Section 7 of this Agreement (including but not limited to a commitment under a 10b5-1 Arrangement) and (C) not permit Participant to pay Participant's Withholding Obligation in cash, <u>then</u> the Shares that would otherwise be issued to Participant on the Original Settlement Date will not be delivered on such Original Settlement Date and will instead be delivered on the first business day when Participant is not prohibited from selling shares of the Company's Common Stock in the open public market, but in no event later than December 31 of the calendar year in which the vesting date occurs, or, <u>if and only if</u> permitted in a manner that complies with Treasury Regulations Section 1.409A-1(b)(4), no later than the date that is the 15th day of the third calendar month of the applicable year following the year in which the applicable Restricted Stock Units are no longer subject to a "substantial risk of forfeiture" within the meaning of Treasury Regulations Section 1.409A-1(d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**The form of delivery (e.g., a stock certificate or electronic entry evidencing such Shares) shall be determined by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)&nbsp;&nbsp;&nbsp;&nbsp;**Unless and until such time as, and only to the extent that, Shares are issued in settlement of vested Restricted Stock Units, Participant shall have no ownership of the Shares subject to the Restricted Stock Units and shall have no right to dividends or to vote such Shares.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;DIVIDENDS.** Participant shall receive no benefit or adjustment to Participant's Award with respect to any cash dividend, stock dividend or other distribution that does not result from an adjustment as provided for in Section 2.2 of the Plan; provided, however, that this sentence will not apply with respect to any Shares that are delivered to Participant in connection with Participant's Award after such Shares have been delivered to Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;WITHHOLDING OBLIGATION**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**As a condition to the issuance of Shares pursuant to this Award, Participant agrees to make arrangements satisfactory to the Company (or a Subsidiary, Parent or Affiliate of the Company) for the payment of the Withholding Obligation (as defined below) that arises upon grant, vesting and/or settlement of the Award (or any portion thereof) and at any other time as reasonably requested by the Company in accordance with applicable tax laws. In furtherance of the foregoing, Participant hereby authorizes any required withholding from the Shares issuable to Participant and/or otherwise agrees to make adequate provision, including in cash, for any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or any Subsidiary, Parent or Affiliate of the Company that arise in connection with Participant's Award (the "***Withholding Obligation***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**By accepting this Award, Participant acknowledges and agrees that the Company or any Subsidiary, Parent or Affiliate of the Company may, in its sole discretion, satisfy all or any portion of the Withholding Obligation relating to Participant's Restricted Stock Units by any of the following means or by a combination of such means, and Participant's acceptance of this Award constitutes Participant's consent to any such actions: (i) causing Participant to pay any portion of the Withholding Obligation in cash, check or wire of immediately available funds; (ii) withholding from any compensation otherwise payable to Participant by the Company; (iii) withholding Shares from the Shares issued or otherwise issuable to Participant in connection with the Award with a Fair Market Value as of the applicable date of determination equal to the amount of such Withholding Obligation; provided, however, that the number of such Shares so withheld will not exceed the amount necessary to satisfy the Withholding Obligation using up to (but not in excess of) the maximum statutory withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable income; and provided, further, that to the extent necessary to qualify for an exemption from application of Section 16(b) of the Exchange Act, if applicable, such share withholding procedure will be subject to the express prior approval of the Board or the Committee, as applicable; and/or (iv) permitting or requiring Participant to enter into a "same day sale" or "sell to cover" arrangement, if applicable, with a broker-dealer that is a member of the Financial Industry Regulatory Authority (a "***FINRA Dealer***"), pursuant to this authorization and without further consent, whereby Participant irrevocably elect to sell a portion of the Shares to be delivered in connection with Participant's Restricted Stock Units to satisfy the Withholding Obligation and whereby the FINRA Dealer irrevocably commits to forward the proceeds necessary to satisfy the Withholding Obligation directly to the Company and/or its affiliates. Unless the Withholding Obligation is satisfied, the Company shall have no obligation to deliver to Participant any Shares or any other consideration pursuant to this Award.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**In the event the Withholding Obligation arises prior to the delivery to Participant of Shares or it is determined after the delivery of Shares to Participant that the amount of the Withholding Obligation was greater than the amount withheld by the Company, Participant agrees to indemnify and hold the Company (or any applicable Subsidiary, Parent or Affiliate of the Company) harmless from any failure by the Company to withhold the proper amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.&nbsp;&nbsp;&nbsp;&nbsp;TAX CONSEQUENCES.** The Company has no duty or obligation to minimize the tax consequences to Participant of this Award and shall not be liable to Participant for any adverse tax consequences to Participant arising in connection with this Award. Participant is hereby advised to consult with Participant's own personal tax, financial and/or legal advisors regarding the tax consequences of this Award and by accepting this Award, Participant has agreed that Participant has done so or knowingly and voluntarily declined to do so. Participant understands that Participant (and not the Company) shall be responsible for Participant's own tax liability that may arise as a result of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.&nbsp;&nbsp;&nbsp;&nbsp;TRANSFER RESTRICTIONS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;Transfer Restrictions on Restricted Stock Units.** Prior to the time that Shares have been delivered to Participant, Participant may not transfer, which includes without limitation a transfer, assignment, granting of a lien or security interest in, pledging, hypothecating, encumbering, selling or otherwise disposing of this Award or the Shares issuable in respect of Participant's Award, except that Participant's Award is transferable by will and by the laws of descent and distribution such that, at Participant's death, vesting of Participant's Award will cease and Participant's executor or administrator of Participant's estate shall be entitled to receive, on behalf of Participant's estate, any Shares or other consideration that vested but was not issued before Participant's death. For example, Participant may not use Shares that may be issued in respect of Participant's Restricted Stock Units as security for a loan. The restrictions on transfer of the Restricted Stock Units set forth herein will lapse upon delivery to Participant of Shares in respect of Participant's vested Restricted Stock Units; provided that such delivered shares shall be subject to the restrictions otherwise set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;Transfer Restrictions on Shares**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Restriction on Transfer</u>**. Participant shall not transfer, which includes without limitation a transfer, assignment, granting of a lien or security interest in, pledging, hypothecating, encumbering, selling or otherwise disposing of the Shares or any interest in the Shares issued pursuant to this Agreement (including, without limitation, a transfer by gift or operation of law) except with the prior written consent of the Board or the Committee, as applicable (which such consent may be withheld for any legitimate corporate purpose, as determined by the Board or the Committee, as applicable), and in compliance with the provisions of the Plan, this Agreement, the Company's Bylaws, the Company's then current Insider Trading Policy, and applicable securities and other laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)&nbsp;&nbsp;&nbsp;&nbsp;<u>Transfer of Shares</u>**. Participant or any transferee of the Shares (each, a "***Holder***") seeking to transfer some or all of its Shares shall give written notice thereof to

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the Secretary of the Company that shall include: (1) the name of the Holder; (2) the proposed transferee; (3) the number of Shares of the transfer of which approval is thereby requested; (4) the purchase price (if any) of the shares proposed for transfer; (5) written assurances, in form and substance satisfactory to counsel for the Company, that (A) the proposed disposition does not require registration of the Shares under the Securities Act or under any applicable foreign, federal, state and local securities or other laws or (B) all appropriate actions necessary for compliance with the registration requirements of the Securities Act or of any exemption from registration available under the Securities Act (including Rule 144) or applicable foreign, federal, state and local securities and other laws have been taken; and (6) written assurances, in form and substance satisfactory to the Company, that the proposed disposition will not result in the contravention of any transfer restrictions applicable to the Shares pursuant to the provisions of the regulations promulgated under Section 25102(o), Rule 701 or under any other applicable securities or other laws or adversely affect the Company's ability to rely on the exemption(s) from registration under the Securities Act or under any other applicable securities or other laws for the grant of the Restricted Stock Units, the issuance of Shares upon settlement thereof or any other issuance of securities, whether under the Plan or otherwise. The Company may require the Holder to supplement its notice with such additional information as the Company may request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)&nbsp;&nbsp;&nbsp;&nbsp;<u>Transferee Obligations</u>**. Each person (other than the Company) to whom the Shares or any interest therein are transferred by means of one of the permitted transfers specified in this Agreement must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Company that such person is bound by the provisions of this Agreement and that the transferred Shares are subject to (1) the Company's Bylaws, (2) the market stand-off provisions of Section 11 of this Agreement and (3) the other restrictions, including without limitation restrictions on transferability, contained herein and in the Plan, to the same extent such Shares would be so subject if retained by Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv)&nbsp;&nbsp;&nbsp;&nbsp;<u>Purported Transfers</u>**. Any purported transfer of any Shares of the Company's stock effected in violation of this Section 9(b) or otherwise in the Plan or this Agreement shall be null and void and shall have no force or effect and the Company shall not record any such purported transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIVE LEGENDS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Legends</u>**. Participant understands and agrees that the Company shall cause the legends set forth below or **legends** substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares, to the extent appropriate, together with any other legends that may be required by the Company or by state or federal securities laws:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND APPLICABLE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM.

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INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS.

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON RESALE AND TRANSFER AS SET FORTH IN THE COMPANY'S BYLAWS AND/OR A RESTRICTED STOCK UNIT AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH SALE AND TRANSFER RESTRICTIONS ARE BINDING ON TRANSFEREES OF THESE SHARES.

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A MARKET STANDOFF RESTRICTION AS SET FORTH IN A CERTAIN RESTRICTED STOCK UNIT AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT, THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS (OR LONGER) AFTER THE EFFECTIVE DATE OF CERTAIN PUBLIC OFFERINGS OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES OF THESE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Stop-Transfer Notices</u>**. Participant agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate "stop transfer" instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Refusal to Transfer</u>**. The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.&nbsp;&nbsp;&nbsp;&nbsp;MARKET STAND-OFF.** Participant agrees that, subject to any early release provisions that apply pro rata to stockholders of the Company according to their holdings of the Company's Common Stock (determined on an as-converted into Common Stock basis), Participant will not, if requested by the Company or, if applicable, the managing underwriter(s) in the IPO, for a period of up to one hundred eighty (180) days following the effective date of the registration statement relating to such IPO, directly or indirectly sell, offer to sell, grant any option for the sale of, or otherwise dispose of any Common Stock of the Company or securities convertible into Common Stock of the Company, except for sales of any securities to be included in the registration statement for the IPO. For the avoidance of doubt, the provisions of this

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Section 11 shall only apply to the IPO. The restricted period shall in any event terminate two (2) years after the closing date of the IPO. In order to enforce the foregoing covenant, the Company shall have the right to place restrictive legends on the certificates representing the Shares subject to this Section 11 and to impose stop transfer instructions with respect to the Shares until the end of such period. Participant further agrees to enter into any agreement reasonably required by the Company or, if applicable, the underwriters to implement the foregoing restrictions on transfer. For the avoidance of doubt, the foregoing provisions of this Section 11 shall not apply to any registration of securities of the Company (i) under an employee benefit plan or (ii) in a merger, consolidation, business combination or similar transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.&nbsp;&nbsp;&nbsp;&nbsp;EXECUTION OF DOCUMENTS.** Participant hereby acknowledges and agrees that the manner selected by the Company by which Participant indicates Participant's consent to Participant's Grant Notice is also deemed to be Participant's execution and acceptance of Participant's Grant Notice and of this Agreement. Participant further agrees that such manner of indicating consent may be relied upon as Participant's signature for establishing Participant's execution of any documents to be executed in the future in connection with Participant's Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.&nbsp;&nbsp;&nbsp;&nbsp;NO GUARANTEE OF CONTINUED SERVICE**. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH IN THE GRANT NOTICE DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS AN EMPLOYEE OR OTHER SERVICE PROVIDER FOR THE VESTING PERIOD, OR FOR ANY PERIOD AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT'S RIGHT OR THE RIGHT OF THE COMPANY (OR A SUBSIDIARY, PARENT OR AFFILIATE OF THE COMPANY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT'S RELATIONSHIP AS AN EMPLOYEE OR OTHER SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.&nbsp;&nbsp;&nbsp;&nbsp;UNSECURED OBLIGATION.** Participant's Award is unfunded, and as a holder of a vested Award, Participant shall be considered an unsecured creditor of the Company with respect to the Company's obligation, if any, to issue Shares (or other property or cash) pursuant to this Agreement. Participant shall not have voting or any other rights as a stockholder of the Company with respect to the Shares to be issued pursuant to this Agreement until such Shares are issued to Participant pursuant to Section 5 of this Agreement. Upon such issuance, Participant will obtain full voting and other rights as a stockholder of the Company. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between Participant and the Company or any other person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.&nbsp;&nbsp;&nbsp;&nbsp;NOTICES**. Any and all notices required or permitted to be given to a party pursuant to the provisions of this Agreement will be in writing and will be effective and deemed to provide such party sufficient notice under this Agreement on the earliest of the following: (i) at the time of personal delivery, if delivery is in person; (ii) at the time an electronic confirmation of receipt is received, if delivery is by email; (iii) at the time of transmission by facsimile,

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addressed to the other party at its facsimile number specified herein (or hereafter modified by subsequent notice to the parties hereto), with confirmation of receipt made by both telephone and printed confirmation sheet verifying successful transmission of the facsimile; (iv) one (1) business day after deposit with an express overnight courier for United States deliveries, or two (2) business days after such deposit for deliveries outside of the United States, with proof of delivery from the courier requested; or (v) three (3) business days after deposit in the United States mail by certified mail (return receipt requested) for United States deliveries. Any notice for delivery outside the United States will be sent by email, facsimile or by express courier. Any notice not delivered personally or by email will be sent with postage and/or other charges prepaid and properly addressed to Participant at the last known address or facsimile number on the books of the Company, or at such other address or facsimile number as such other party may designate by one of the indicated means of notice herein to the other parties hereto or, in the case of the Company, to it at its principal place of business. Notices to the Company will be marked "Attention: Chief Financial Officer." Notices by facsimile shall be machine verified as received. The Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this Award by electronic means or to request Participant's consent to participate in the Plan by electronic means. By accepting this Award, Participant consents to receive such documents by electronic delivery and to participate in the Plan through an on- line or electronic system established and maintained by the Company or another third party designated by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.&nbsp;&nbsp;&nbsp;&nbsp;HEADINGS**. The headings of the sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a part of this Agreement or to affect the meaning of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**The rights and obligations of the Company under Participant's Award shall be transferable by the Company to any one or more persons or entities, and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by, the Company's successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**Participant agrees upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company to carry out the purposes or intent of Participant's Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**Participant acknowledges and agrees that Participant has reviewed Participant's Award in its entirety, has had an opportunity to obtain the advice of counsel prior to executing and accepting Participant's Award and fully understands all provisions of Participant's Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)&nbsp;&nbsp;&nbsp;&nbsp;**This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)&nbsp;&nbsp;&nbsp;&nbsp;**Any dispute regarding the interpretation of this Agreement shall be submitted by Participant or the Company to the Board or the Committee, as applicable, for review. The resolution of such a dispute by the Board or the Committee, as applicable, shall be final and binding on the Company and Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f)&nbsp;&nbsp;&nbsp;&nbsp;**All obligations of the Company under the Plan and this Agreement shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING PLAN DOCUMENT**. Participant's Award is subject to all the provisions of this Agreement, the Grant Notice and the Plan, the provisions of which are hereby made a part of Participant's Award, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. Participant's Award (and any compensation paid or Shares issued under Participant's Award) is subject to recoupment in accordance with The Dodd–Frank Wall Street Reform and Consumer Protection Act and any implementing regulations thereunder, any clawback policy adopted by the Company and any compensation recovery policy otherwise required by applicable law. No recovery of compensation under such a clawback policy will be an event giving rise to a right to voluntarily terminate employment upon a resignation for "good reason," or for a "constructive termination" or any similar term under any plan of or agreement with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.&nbsp;&nbsp;&nbsp;&nbsp;EFFECT ON OTHER EMPLOYEE BENEFIT PLANS.** The value of this Award subject to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating benefits under any employee benefit plan (other than the Plan) sponsored by the Company or any Affiliate except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any or all of the employee benefit plans of the Company or any Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.&nbsp;&nbsp;&nbsp;&nbsp;SEVERABILITY**. If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement. Notwithstanding the forgoing, if the value of this Agreement based upon the substantial benefit of the bargain for any party is materially impaired, which determination as made by the presiding court or arbitrator of competent jurisdiction shall be binding, then both parties agree to substitute such provision(s) through good faith negotiations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING LAW**. This Agreement shall be governed by and construed in accordance with the laws of the State of California, without giving effect to that body of laws pertaining to conflict of laws.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.&nbsp;&nbsp;&nbsp;&nbsp;AMENDMENT.** This Agreement may not be modified, amended or terminated except by an instrument in writing, signed by Participant and by a duly authorized representative of the Company, except as otherwise permitted by the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.&nbsp;&nbsp;&nbsp;&nbsp;WAIVER.** Participant acknowledges that a waiver by the Company of breach of any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by Participant or any other participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24.&nbsp;&nbsp;&nbsp;&nbsp;SECTION 409A OF THE CODE***.* This Award is intended to be exempt from the application of Section 409A of the Code, including but not limited to by reason of complying with the "short-term deferral" rule set forth in Treasury Regulation Section 1.409A-1(b)(4) and any ambiguities herein shall be interpreted accordingly. Notwithstanding the foregoing, if it is determined that this Award fails to satisfy the requirements of the short-term deferral rule and is otherwise not exempt from, and determined to be deferred compensation subject to Section 409A of the Code, this Award shall comply with Section 409A of the Code to the extent necessary to avoid adverse personal tax consequences and any ambiguities herein shall be interpreted accordingly. If it is determined that this Award is deferred compensation subject to Section 409A of the Code and Participant is a "Specified Employee" (within the meaning set forth in Section 409A(a)(2)(B)(i) of the Code) as of the date of Participant's "separation from service" (as defined in Section 409A of the Code), then the issuance of any Shares that would otherwise be made upon the date of Participant's separation from service or within the first six (6) months thereafter will not be made on the originally scheduled date(s) and will instead be issued in a lump sum on the date that is six (6) months and one day after the date of the separation from service (or Participant's earlier death), with the balance of the Shares issued thereafter in accordance with the original vesting and issuance schedule set forth above, but if and only if such delay in the issuance of the Shares is necessary to avoid the imposition of adverse taxation on Participant in respect of the Shares under Section 409A of the Code. Each installment of Shares that vests is intended to constitute a "separate payment" for purposes of Treasury Regulation Section 1.409A-2(b)(2).

\* \* \* \* \*

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**ATTACHMENT II**

**2013 AMENDED AND RESTATED EQUITY INCENTIVE PLAN**

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*Global Two Tier (Need Not Be Present) RSU Grant*

**MOTIVE TECHNOLOGIES, INC.**

**RESTRICTED STOCK UNIT GRANT NOTICE – GLOBAL**

**(AMENDED AND RESTATED 2013 EQUITY INCENTIVE PLAN)**

Motive Technologies, Inc. (the "***Company***"), pursuant to its Amended and Restated 2013 Equity Incentive Plan (as amended and/or restated from time to time, the "***Plan***"), hereby awards to the person named below ("***Participant***") a Restricted Stock Unit award for the number of Shares ("***Restricted Stock Units***") set forth below (this "***Award***"). This Award is subject to all of the terms and conditions as set forth in this Restricted Stock Unit Grant Notice (this "***Grant Notice***"), as well as the Plan and the Restricted Stock Unit Award Agreement (including, if applicable, the general terms for Participants who reside and/or work outside the United States and any special terms and conditions for Participant's country, each set out in the attached appendix (the "***Appendix***", and together, the "***Agreement***")), both of which are attached hereto and incorporated herein in their entirety. Capitalized terms not explicitly defined herein shall have the meanings set forth in the Plan or the Agreement. In the event of any conflict between the terms in this Grant Notice, the Agreement and/or the Plan, the terms of the Plan shall control, except as expressly amended or overridden in the Agreement.

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| | |
|:---|:---|
| Participant: | «Name» |
| Date of Grant: | «Grant_Date» |
| Vesting Commencement Date: | «Vest_Date» |
| Number of Restricted Stock Units: | «Shares» |
| Expiration Date: | The earlier to occur of: (a) the date on which settlement of all vested Restricted Stock Units granted hereunder occurs and (b) the seventh (7<sup>th</sup>) anniversary of the Date of Grant. |

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**Vesting Schedule:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**Settlement of Restricted Stock Units is conditioned on satisfaction of two vesting requirements before the Expiration Date (or earlier termination of Restricted Stock Units pursuant to the Agreement or the Plan): A time and service based requirement (the "***Time and Service Based Requirement***") and a liquidity event requirement (the "***Liquidity Event Requirement***"), each as described below. Restricted Stock Units will only vest as set forth in clauses (b) and (c) below if both of these two requirements are satisfied on or before the Expiration Date (or earlier termination of the Restricted Stock Units pursuant to the Agreement or the Plan).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)**<u>Time and Service Based Requirement</u>: Provided Participant is in Continuous Service Status (as defined below) on each applicable date, the Time and Service Based Requirement will be satisfied as described in Carta's online

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award profile Vesting Schedule of the total number of RSUs subject to this Award on each of the Quarterly Installment Dates occurring on or after the Vesting Commencement Date. "Continuous Service Status" means Participant's continuous services as an employee, officer, director or consultant to the Company or a Subsidiary or Parent of the Company has not Terminated. "Quarterly Installment Date" means each of March 15, June 15, September 15 and December 15 of a given calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)**<u>Liquidity Event Requirement</u>: The Liquidity Event Requirement will be satisfied on the first to occur of (i) the effective date of a registration statement of the Company's equity securities to the public filed under the Securities Act of 1933, as amended (an "***IPO***"), (ii) an Acquisition, provided that the Acquisition constitutes a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the Company as defined in the regulations under Section 409A of the Code (a "***Change in Control***"), or (iii) the Company's equity securities become publicly traded on a nationally recognized exchange other than pursuant to an IPO and/or a Change in Control (a "***Public Trading Event***") (the earlier of (i), (ii) and (iii) being an "***Initial Vesting Event***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Restricted Stock Units Vested at Initial Vesting Event</u>. If at the time of the Initial Vesting Event, Participant is not in Continuous Service Status and did not meet the Time and Service Based Requirement with respect to any portion of the Restricted Stock Units, then no portion of the Restricted Stock Units shall vest. If at the time of the Initial Vesting Event, Participant is in Continuous Service Status or has ceased Continuous Service Status but did meet the Time and Service Based Requirement with respect to all or any portion of the Restricted Stock Units, then the Restricted Stock Units shall vest calculated as set forth in clause (a)(1) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Restricted Stock Units Vested after Initial Vesting Event</u>. If Participant is in Continuous Service Status on the date of the Initial Vesting Event, then with respect to Restricted Stock Units that have not vested as of such Initial Vesting Event, vesting shall continue under the Time and Service Based Requirement as set forth in clause (a)(1) above.

**Issuance Schedule:&nbsp;&nbsp;&nbsp;&nbsp;**Subject to adjustment as provided for in Section 3 of the Agreement, one Share will be issued for each Restricted Stock Unit that vests at the time set forth in Section 5 of the Agreement.

**Additional Terms/Acknowledgements:** Participant acknowledges receipt of, and understands and agrees to, this Grant Notice, the Agreement and the Plan. Participant further acknowledges that as of the Date of Grant, this Grant Notice, the Agreement and the Plan set forth the entire understanding between Participant and the Company regarding the acquisition of Shares pursuant to this Award specified above and supersede all prior oral and written agreements on the terms of this Award, with the exception, if applicable, of any compensation recovery policy that is adopted by the Company or is otherwise required by applicable law. Participant acknowledges

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that there may be tax and/or social security consequences as a result of the Restricted Stock Units (including upon grant, vesting or settlement of the Restricted Stock Units and/or disposition of the Shares) and that Participant should consult a tax adviser generally about the taxation of the Restricted Stock Units. Participant agrees and acknowledges that the Time and Service Based Requirement may change prospectively in the event that Participant's service status changes (for example, during a leave of absence or a change from full-time to part-time status).

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By accepting this Award, Participant acknowledges having received and read the Grant Notice, the Agreement and the Plan and agrees to all of the terms and conditions set forth in these documents. Participant consents to receive Plan documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.

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| | |
|:---|:---|
| **MOTIVE TECHNOLOGIES, INC.** | **PARTICIPANT** |
| By: |  |
| Signature | Signature |
| Title: | Date: |
| Date: |  |

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**ATTACHMENTS**:&nbsp;&nbsp;&nbsp;&nbsp;Attachment I: Award Agreement (including the Appendix, if applicable)

Attachment II: Amended and Restated 2013 Equity Incentive Plan

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**ATTACHMENT I**

**AMENDED AND RESTATED 2013 EQUITY INCENTIVE PLAN**

**RESTRICTED STOCK UNIT AWARD AGREEMENT**

Pursuant to the Restricted Stock Unit Grant Notice (the "***Grant Notice***") and this Restricted Stock Unit Award Agreement (including, if applicable, the general terms for Participants who reside and/or work outside the United States and any special terms and conditions for your country set out in the attached appendix (the "***Appendix***" and, together, the "***Agreement***")), Motive Technologies, Inc. (the "***Company***") has awarded you ("***Participant***") a Restricted Stock Unit Award (this "***Award***") pursuant to the Company's Amended and Restated 2013 Equity Incentive Plan (as amended and/or restated from time to time, the "***Plan***") for the number of Restricted Stock Units indicated in the Grant Notice. Capitalized terms not explicitly defined in this Agreement or the Grant Notice shall have the same meanings given to them in the Plan. The terms of Participant's Award, in addition to those set forth in the Grant Notice, are as follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;GRANT OF AWARD**. This Award represents the right to be issued on a future date one (1) Share for each Restricted Stock Unit that vests on the applicable vesting date(s) (subject to adjustment under Section 3 below) as indicated in the Grant Notice, subject to the limitations contained in the Grant Notice, this Agreement and/or the Plan. This Award was granted in consideration of Participant's services to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;VESTING**. Subject to the limitations contained in the Grant Notice, this Agreement and/or the Plan, Participant's Award will vest, if at all, in accordance with the vesting schedule provided in the Grant Notice. If Participant's Continuous Service Status terminates for any reason, all Restricted Stock Units for which vesting is no longer possible under the terms of the Grant Notice shall be automatically forfeited to the Company without consideration and at no cost to the Company, and all rights of Participant to such Restricted Stock Units shall immediately terminate. For the avoidance of doubt, if Participant's Continuous Service Status terminates prior to an Initial Vesting Event and Participant had not satisfied any portion of the Time and Service Based Requirement as of such termination of Continuous Service Status, then all Restricted Stock Units subject to this Award shall be automatically forfeited to the Company without consideration and at no cost to the Company, and all rights of Participant to this Award shall immediately terminate, in each case upon such termination of Continuous Service Status. In case of any dispute as to whether a termination of Continuous Service Status has occurred, the Board and/or the Committee, as applicable, shall have sole discretion to determine whether such termination has occurred and the effective date of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;NUMBER OF SHARES**. The number of Restricted Stock Units subject to Participant's Award may be adjusted from time to time for capital adjustments, as provided in Section 2.2 of the Plan. Any additional Restricted Stock Units, Shares, cash or other property that becomes subject to this Award pursuant to this Section 3, if any, shall be subject, in a manner determined by the Board and/or the Committee, as applicable, to the same forfeiture restrictions, restrictions on transferability, and time and manner of delivery as applicable to the other Restricted Stock Units and Shares covered by Participant's Award. Notwithstanding the

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provisions of this Section 3, no fractional Shares or rights for fractional Shares shall be created pursuant to this Section 3. Any fraction of a Share will not be issued but will either be paid in cash the Fair Market Value of such fraction of a Share or will be rounded down to the nearest whole Share, as determined by the Board and/or the Committee, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;COMPLIANCE WITH LAWS**. This Award will not be effective unless it is in compliance with all applicable United States federal and state and non-United States securities laws, rules and regulations of any governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed or quoted, as they are in effect on the date of grant of this Award and also on the date of settlement of this Award. Notwithstanding any other provision in the Grant Notice, this Agreement or the Plan, the Company will have no obligation to issue or deliver certificates for Shares under this Award prior to (i) obtaining any approvals from governmental agencies that the Company determines are necessary or advisable, and/or (ii) compliance with any exemption, completion of any registration or other qualification of such Shares under any United States state or federal or non-United States law or ruling of any governmental body that the Company determines to be necessary or advisable. The Company will be under no obligation to register the Shares with the United States Securities and Exchange Commission or to effect compliance with the exemption, registration, qualification or listing requirements of any state securities laws, stock exchange or automated quotation system, and the Company will have no liability for any inability or failure so do.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;DATE OF ISSUANCE**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**As soon as practicable following each vesting date (but if Participant is subject to United States taxation, not later than December 31 of the calendar year in which the applicable Restricted Stock Unit(s) vest or, only if permitted in a manner that complies with Treasury Regulations Section 1.409A-1(b)(4), not later than the date that is the 15th day of the third calendar month of the applicable year following the year in which the applicable Restricted Stock Unit(s) are no longer subject to a "substantial risk of forfeiture" within the meaning of Treasury Regulations Section 1.409A-1(d)), the Company will deliver to the Participant one (1) Share for each Restricted Stock Unit that vests on the applicable vesting date (subject to adjustment under Section 3 above), subject to the terms and conditions of the Grant Notice, this Agreement and the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**The form of delivery (e.g., a stock certificate or electronic entry evidencing such Shares) shall be determined by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**Unless and until such time as, and only to the extent that, Shares are issued in settlement of vested Restricted Stock Units, Participant shall have no ownership of the Shares subject to the Restricted Stock Units and shall have no right to dividends or to vote such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;DIVIDENDS**. Participant shall receive no benefit or adjustment to Participant's Award with respect to any cash dividend, stock dividend or other distribution that does not result from an adjustment as provided for in Section 2.2 of the Plan; provided, however, that this

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sentence will not apply with respect to any Shares that are delivered to Participant in connection with Participant's Award after such Shares have been delivered to Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;WITHHOLDING OBLIGATION**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**As a condition to the issuance of Shares pursuant to this Award, Participant agrees to make arrangements satisfactory to the Company (or a Subsidiary, Parent or Affiliate of the Company) for the payment of the Withholding Obligation (as defined below) that arises upon grant, vesting and/or settlement of the Award (or any portion thereof) and at any other time as reasonably requested by the Company in accordance with applicable tax laws. In furtherance of the foregoing, Participant hereby authorizes any required withholding from the Shares issuable to Participant and/or otherwise agrees to make adequate provision, including in cash, for any sums required to satisfy the federal, state, local and foreign income tax, payroll tax, fringe benefits, payment or account, social security or other tax-related items that are subject to withholding obligations of the Company or any Subsidiary, Parent or Affiliate of the Company that arise in connection with Participant's Award (the "*Withholding Obligation*").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**By accepting this Award, Participant acknowledges that, regardless of any action taken by the Company or any Subsidiary, Parent or Affiliate of the Company, the ultimate liability for all tax-related items related to Participant's participation in the Plan and legally applicable to Participant is and remains Participant's responsibility and may exceed the amount actually withheld, if any. Participant further acknowledges and agrees that the Company or any Subsidiary, Parent or Affiliate of the Company may, in its sole discretion, satisfy all or any portion of the Withholding Obligation relating to Participant's Restricted Stock Units by any of the following means or by a combination of such means, and Participant's acceptance of this Award constitutes Participant's consent to any such actions: (i) causing Participant to pay any portion of the Withholding Obligation in cash, check or wire of immediately available funds; (ii) withholding from any compensation otherwise payable to Participant by the Company; (iii) withholding Shares from the Shares issued or otherwise issuable to Participant in connection with the Award with a fair market value as of the applicable date of determination equal to the amount of such Withholding Obligation; provided, however, that the number of such Shares so withheld will not exceed the amount necessary to satisfy the Withholding Obligation using up to (but not in excess of) the maximum statutory withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable income; and provided, further, that to the extent necessary to qualify for an exemption from application of Section 16(b) of the Exchange Act, if applicable, such share withholding procedure will be subject to the express prior approval of the Board or the Committee, as applicable; and/or (iv) permitting or requiring Participant to enter into a "same day sale" or "sell to cover" arrangement, if applicable, with a broker-dealer that is a member of the Financial Industry Regulatory Authority (a "*FINRA Dealer*"), pursuant to this authorization and without further consent, whereby Participant irrevocably elect to sell a portion of the Shares to be delivered in connection with Participant's Restricted Stock Units to satisfy the Withholding Obligation and whereby the FINRA Dealer irrevocably commits to forward the proceeds necessary to satisfy the Withholding Obligation directly to the Company and/or its affiliates. In the event of over-withholding, Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the

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equivalent in Shares), or if not refunded, Participant may seek a refund from local tax authorities. In the event of under-withholding, Participant may be required to pay any additional tax-related items directly to the applicable tax authority or to the Company or any Subsidiary, Parent or Affiliate of the Company. If the Withholding Obligation is satisfied by withholding in Shares, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested Award, notwithstanding that a number of Shares is held back solely for the purpose of paying the Withholding Obligations. Unless the Withholding Obligation is satisfied, the Company shall have no obligation to deliver to Participant any Shares or any other consideration pursuant to this Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**In the event the Withholding Obligation arises prior to the delivery to Participant of Shares or it is determined after the delivery of Shares to Participant that the amount of the Withholding Obligation was greater than the amount withheld by the Company, Participant agrees to indemnify and hold the Company (or any applicable Subsidiary, Parent or Affiliate of the Company) harmless from any failure by the Company to withhold the proper amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.&nbsp;&nbsp;&nbsp;&nbsp;TAX CONSEQUENCES**. The Company has no duty or obligation to minimize the tax consequences to Participant of this Award and shall not be liable to Participant for any adverse tax consequences to Participant arising in connection with this Award. Participant is hereby advised to consult with Participant's own personal tax, financial and/or legal advisors regarding the tax and social security consequences of this Award and by accepting this Award, Participant has agreed that Participant has done so or knowingly and voluntarily declined to do so. Participant understands that Participant (and not the Company) shall be responsible for Participant's own tax and social security liabilities that may arise as a result of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.&nbsp;&nbsp;&nbsp;&nbsp;TRANSFER RESTRICTIONS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;Transfer Restrictions on Restricted Stock Units**. Prior to the time that Shares have been delivered to Participant, Participant may not transfer, which includes without limitation a transfer, assignment, granting of a lien or security interest in, pledging, hypothecating, encumbering, selling or otherwise disposing of this Award or the Shares issuable in respect of Participant's Award, except that Participant's Award is transferable by will and by the laws of descent and distribution such that, at Participant's death, vesting of Participant's Award will cease and Participant's executor or administrator of Participant's estate shall be entitled to receive, on behalf of Participant's estate, any Shares or other consideration that vested but was not issued before Participant's death. For example, Participant may not use Shares that may be issued in respect of Participant's Restricted Stock Units as security for a loan. The restrictions on transfer of the Restricted Stock Units set forth herein will lapse upon delivery to Participant of Shares in respect of Participant's vested Restricted Stock Units; provided that such delivered shares shall be subject to the restrictions otherwise set forth in this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;Transfer Restrictions on Shares**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)&nbsp;&nbsp;&nbsp;&nbsp;Restriction on Transfer**. Participant shall not transfer, which includes without limitation a transfer, assignment, granting of a lien or security interest in, pledging, hypothecating, encumbering, selling or otherwise disposing of the Shares or any interest in the Shares issued pursuant to this Agreement (including, without limitation, a transfer by gift or operation of law) except with the prior written consent of the Board or the Committee, as applicable (which such consent may be withheld for any legitimate corporate purpose, as determined by the Board or the Committee, as applicable), and in compliance with the provisions of the Plan, this Agreement, the Company's Bylaws, the Company's then current Insider Trading Policy, and applicable securities and other laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)&nbsp;&nbsp;&nbsp;&nbsp;Transfer of Shares**. Participant or any transferee of the Shares (each, a "***Holder***") seeking to transfer some or all of its Shares shall give written notice thereof to the Secretary of the Company that shall include: (1) the name of the Holder; (2) the proposed transferee; (3) the number of Shares of the transfer of which approval is thereby requested; (4) the purchase price (if any) of the shares proposed for transfer; (5) written assurances, in form and substance satisfactory to counsel for the Company, that (A) the proposed disposition does not require registration of the Shares under the Securities Act or under any applicable foreign, federal, state and local securities or other laws or (B) all appropriate actions necessary for compliance with the registration requirements of the Securities Act or of any exemption from registration available under the Securities Act (including Rule 144) or applicable foreign, federal, state and local securities and other laws have been taken; and (6) written assurances, in form and substance satisfactory to the Company, that the proposed disposition will not result in the contravention of any transfer restrictions applicable to the Shares pursuant to the provisions of the regulations promulgated under Section 25102(o), Rule 701 or under any other applicable securities or other laws or adversely affect the Company's ability to rely on the exemption(s) from registration under the Securities Act or under any other applicable securities or other laws for the grant of the Restricted Stock Units, the issuance of Shares upon settlement thereof or any other issuance of securities, whether under the Plan or otherwise. The Company may require the Holder to supplement its notice with such additional information as the Company may request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)&nbsp;&nbsp;&nbsp;&nbsp;Transferee Obligations**. Each person (other than the Company) to whom the Shares or any interest therein are transferred by means of one of the permitted transfers specified in this Agreement must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Company that such person is bound by the provisions of this Agreement and that the transferred Shares are subject to (1) the Company's Bylaws, (2) the market stand-off provisions of Section 11 of this Agreement and (3) the other restrictions, including without limitation restrictions on transferability, contained herein and in the Plan, to the same extent such Shares would be so subject if retained by Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv)&nbsp;&nbsp;&nbsp;&nbsp;Purported Transfers**. Any purported transfer of any Shares of the Company's stock effected in violation of this Section 9(b) or otherwise in the Plan or this Agreement shall be null and void and shall have no force or effect and the Company shall not record any such purported transfer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIVE LEGENDS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;Legends**. Participant understands and agrees that the Company shall cause the legends set forth below or legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares, to the extent appropriate, together with any other legends that may be required by the Company or by United States state or federal or non-United States securities laws:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND APPLICABLE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS.

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON RESALE AND TRANSFER AS SET FORTH IN THE COMPANY'S BYLAWS AND/OR A RESTRICTED STOCK UNIT AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH SALE AND TRANSFER RESTRICTIONS ARE BINDING ON TRANSFEREES OF THESE SHARES.

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A MARKET STANDOFF RESTRICTION AS SET FORTH IN A CERTAIN RESTRICTED STOCK UNIT AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT, THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS (OR LONGER) AFTER THE EFFECTIVE DATE OF CERTAIN PUBLIC OFFERINGS OF THE COMMON STOCK OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES OF THESE SHARES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;Stop-Transfer Notices**. Participant agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate "stop transfer" instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;Refusal to Transfer**. The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.&nbsp;&nbsp;&nbsp;&nbsp;MARKET STAND-OFF**. Participant agrees that, subject to any early release provisions that apply pro rata to stockholders of the Company according to their holdings of the Company's Common Stock (determined on an as-converted into Common Stock basis), Participant will not, if requested by the Company or, if applicable, the managing underwriter(s) in the IPO, for a period of up to one hundred eighty (180) days following the effective date of the registration statement relating to such IPO, directly or indirectly sell, offer to sell, grant any option for the sale of, or otherwise dispose of any Common Stock of the Company or securities convertible into Common Stock of the Company, except for sales of any securities to be included in the registration statement for the IPO. For the avoidance of doubt, the provisions of this Section 11 shall only apply to the IPO. The restricted period shall in any event terminate two (2) years after the closing date of the IPO. In order to enforce the foregoing covenant, the Company shall have the right to place restrictive legends on the certificates representing the Shares subject to this Section 11 and to impose stop transfer instructions with respect to the Shares until the end of such period. Participant further agrees to enter into any agreement reasonably required by the Company or, if applicable, the underwriters to implement the foregoing restrictions on transfer. For the avoidance of doubt, the foregoing provisions of this Section 11 shall not apply to any registration of securities of the Company (i) under an employee benefit plan or (ii) in a merger, consolidation, business combination or similar transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.&nbsp;&nbsp;&nbsp;&nbsp;EXECUTION OF DOCUMENTS**. Participant hereby acknowledges and agrees that the manner selected by the Company by which Participant indicates Participant's consent to Participant's Grant Notice is also deemed to be Participant's execution and acceptance of Participant's Grant Notice and of this Agreement. Participant further agrees that such manner of indicating consent may be relied upon as Participant's signature for establishing Participant's execution of any documents to be executed in the future in connection with Participant's Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.&nbsp;&nbsp;&nbsp;&nbsp;UNSECURED OBLIGATION**. Participant's Award is unfunded, and as a holder of a vested Award, Participant shall be considered an unsecured creditor of the Company with respect to the Company's obligation, if any, to issue Shares (or other property or cash) pursuant to this Agreement. Participant shall not have voting or any other rights as a stockholder of the Company with respect to the Shares to be issued pursuant to this Agreement until such Shares are issued to Participant pursuant to Section 5 of this Agreement. Upon such issuance, Participant will obtain full voting and other rights as a stockholder of the Company. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between Participant and the Company or any other person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.&nbsp;&nbsp;&nbsp;&nbsp;NOTICES**. Any and all notices required or permitted to be given to a party pursuant to the provisions of this Agreement will be in writing and will be effective and deemed

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to provide such party sufficient notice under this Agreement on the earliest of the following: (i) at the time of personal delivery, if delivery is in person; (ii) at the time an electronic confirmation of receipt is received, if delivery is by email; (iii) at the time of transmission by facsimile, addressed to the other party at its facsimile number specified herein (or hereafter modified by subsequent notice to the parties hereto), with confirmation of receipt made by both telephone and printed confirmation sheet verifying successful transmission of the facsimile; (iv) one (1) business day after deposit with an express overnight courier for United States deliveries, or two (2) business days after such deposit for deliveries outside of the United States, with proof of delivery from the courier requested; or (v) three (3) business days after deposit in the United States mail by certified mail (return receipt requested) for United States deliveries. Any notice for delivery outside the United States will be sent by email, facsimile or by express courier. Any notice not delivered personally or by email will be sent with postage and/or other charges prepaid and properly addressed to Participant at the last known address or facsimile number on the books of the Company, or at such other address or facsimile number as such other party may designate by one of the indicated means of notice herein to the other parties hereto or, in the case of the Company, to it at its principal place of business. Notices to the Company will be marked "*Attention: Chief Financial Officer*." Notices by facsimile shall be machine verified as received. The Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this Award by electronic means or to request Participant's consent to participate in the Plan by electronic means. By accepting this Award, Participant consents to receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.&nbsp;&nbsp;&nbsp;&nbsp;HEADINGS**. The headings of the sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a part of this Agreement or to affect the meaning of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**The rights and obligations of the Company under Participant's Award shall be transferable by the Company to any one or more persons or entities, and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by, the Company's successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**Participant agrees upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company to carry out the purposes or intent of Participant's Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**Participant acknowledges and agrees that Participant has reviewed Participant's Award in its entirety, has had an opportunity to obtain the advice of counsel prior to executing and accepting Participant's Award and fully understands all provisions of Participant's Award.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)&nbsp;&nbsp;&nbsp;&nbsp;**This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)&nbsp;&nbsp;&nbsp;&nbsp;**Any dispute regarding the interpretation of this Agreement shall be submitted by Participant or the Company to the Board or the Committee, as applicable, for review. The resolution of such a dispute by the Board or the Committee, as applicable, shall be final and binding on the Company and Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f)&nbsp;&nbsp;&nbsp;&nbsp;**All obligations of the Company under the Plan and this Agreement shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING PLAN DOCUMENT**. Participant's Award is subject to all the provisions of this Agreement (including the Appendix, if applicable), the Grant Notice and the Plan, the provisions of which are hereby made a part of Participant's Award, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. Participant's Award (and any compensation paid or Shares issued under Participant's Award) is subject to recoupment in accordance with The Dodd–Frank Wall Street Reform and Consumer Protection Act and any implementing regulations thereunder, any clawback policy adopted by the Company and any compensation recovery policy otherwise required by applicable law. No recovery of compensation under such a clawback policy will be an event giving rise to a right to voluntarily terminate employment upon a resignation for "good reason," or for a "constructive termination" or any similar term under any plan of or agreement with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.&nbsp;&nbsp;&nbsp;&nbsp;EFFECT ON OTHER EMPLOYEE BENEFIT PLANS**. The value of this Award subject to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating benefits under any employee benefit plan (other than the Plan) sponsored by the Company or any Affiliate except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any or all of the employee benefit plans of the Company or any Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.&nbsp;&nbsp;&nbsp;&nbsp;SEVERABILITY**. If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement. Notwithstanding the forgoing, if the value of this Agreement based upon the substantial benefit of the bargain for any party is materially impaired, which determination as made by the presiding court or arbitrator of competent jurisdiction shall be binding, then both parties agree to substitute such provision(s) through good faith negotiations.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING LAW**. This Agreement shall be governed by and construed in accordance with the laws of the State of California, without giving effect to that body of laws pertaining to conflict of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.&nbsp;&nbsp;&nbsp;&nbsp;AMENDMENT**. This Agreement may not be modified, amended or terminated except by an instrument in writing, signed by Participant and by a duly authorized representative of the Company, except as otherwise permitted by the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.&nbsp;&nbsp;&nbsp;&nbsp;WAIVER**. Participant acknowledges that a waiver by the Company of breach of any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by Participant or any other participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.&nbsp;&nbsp;&nbsp;&nbsp;SECTION 409A OF THE CODE**. If Participant is subject to United States taxation, this Award is intended to be exempt from the application of Section 409A of the Code, including but not limited to by reason of complying with the "short-term deferral" rule set forth in Treasury Regulation Section 1.409A- 1(b)(4) and any ambiguities herein shall be interpreted accordingly. Notwithstanding the foregoing, if it is determined that this Award fails to satisfy the requirements of the short-term deferral rule and is otherwise not exempt from, and determined to be deferred compensation subject to Section 409A of the Code, this Award shall comply with Section 409A of the Code to the extent necessary to avoid adverse personal tax consequences and any ambiguities herein shall be interpreted accordingly. If it is determined that this Award is deferred compensation subject to Section 409A of the Code and Participant is a "Specified Employee" (within the meaning set forth in Section 409A(a)(2)(B)(i) of the Code) as of the date of Participant's "separation from service" (as defined in Section 409A of the Code), then the issuance of any Shares that would otherwise be made upon the date of Participant's separation from service or within the first six (6) months thereafter will not be made on the originally scheduled date(s) and will instead be issued in a lump sum on the date that is six (6) months and one day after the date of the separation from service (or Participant's earlier death), with the balance of the Shares issued thereafter in accordance with the original vesting and issuance schedule set forth above, but if and only if such delay in the issuance of the Shares is necessary to avoid the imposition of adverse taxation on Participant in respect of the Shares under Section 409A of the Code. Each installment of Shares that vests is intended to constitute a "separate payment" for purposes of Treasury Regulation Section 1.409A-2(b)(2).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24.&nbsp;&nbsp;&nbsp;&nbsp;NATURE OF GRANT**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**Participant's continued engagement with the Company (or any Subsidiary, Parent or Affiliate of the Company) is not for any specified term and may be terminated by Participant or by the Company (or any Subsidiary, Parent or Affiliate of the Company) at any time, for any reason, with or without cause and with or without notice (subject to applicable laws). Nothing in this Agreement (including, but not limited to, the vesting of Participant's Award or the issuance of the Shares subject to Participant's Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Agreement or the Plan will: (i) confer upon Participant any right to continue in the employ or service of, or affiliation with, the Company (or any Subsidiary, Parent or Affiliate of the Company); (ii) constitute any promise or commitment by the Company (or any Subsidiary, Parent or Affiliate of the Company) regarding

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the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or Plan; or (iv) deprive the Company of the right to terminate Participant at will (subject to applicable laws) and without regard to any future vesting opportunity that Participant may have.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**By accepting this Award, Participant acknowledges and agrees that the right to continue vesting in the Award is earned only by continuing as an employee, officer, director or consultant at the will of the Company (or any Subsidiary, Parent or Affiliate of the Company) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses, Subsidiaries or Affiliates at any time or from time to time, as it deems appropriate (a "*reorganization*"). Participant acknowledges and agrees that such a reorganization could result in the termination of its employment or engagement (as applicable), or the termination of Affiliate status of Participant's employer and the loss of benefits available to Participant under this Agreement, including but not limited to, the termination of the right to continue vesting in the Award. Participant further acknowledges and agrees that this Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Agreement, for any period, or at all, and will not interfere in any way with the Company's right to terminate Participant's employment or engagement (as applicable) at any time, with or without cause or notice, or to conduct a reorganization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25.&nbsp;&nbsp;&nbsp;&nbsp;NO ADVICE REGARDING GRANT**. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant's participation in the Plan, or Participant's acquisition or sale of the underlying shares of Common Stock. Participant should consult with Participant's own personal tax, legal and financial advisors regarding its participation in the Plan before taking any action related to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26.&nbsp;&nbsp;&nbsp;&nbsp;APPENDIX**. Notwithstanding any provisions in this Agreement, Participant's Award shall be subject to the general terms for Participants who reside and/or work outside the United States and the special terms and conditions for Participant's country, if outside the United States, each set forth in the Appendix attached hereto. Moreover, if Participant relocates (i) to a country outside of the United States, the general terms for Participants who reside and/or work outside the United State and/r (ii) to one of the countries included in the Appendix, the general terms and/or terms and conditions for such country will apply to Participant to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. If the Appendix is applicable to Participant, the Appendix constitutes part of this Agreement.

\* \* \* \* \*

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**APPENDIX**

This Appendix has two parts. Part 1 includes general terms and conditions that govern the Award granted to Participant under the Plan if Participant resides and/or works outside the United States. Part 2 includes special terms and conditions that govern the Award granted to Participant under the Plan if Participant resides and/or works in any country listed below.

The information contained herein is general in nature and may not apply to Participant's particular situation, and Participant is advised to seek appropriate professional advice as to how the relevant laws in Participant's country may apply to Participant's situation. If Participant is a citizen or resident of a country other than the one in which Participant is currently working and/or residing, transfer employment and/or residency to another country after the date of grant, is a consultant, changes employment status to a consultant position, or is considered a resident of another country for local law purposes, the Company shall, in its discretion, determine the extent to which the special terms and conditions contained herein shall be applicable to Participant. References to Participant's "Employer" shall include any entity that engages Participant's services. References to "you" shall be to Participant.

**Part 1 – General Non-U.S. Terms and Conditions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;TRANSFER RESTRICTIONS ON RESTRICTED STOCK UNITS**. Notwithstanding any provision of the Plan or the Agreement, prior to the time that Shares have been delivered to Participant, Participant may not transfer this Award or the Shares issuable in respect of Participant's Award save that Participant's Award and the Shares issuable in respect of Participant's Award may be transferred to Participant's personal representative on his or her death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;NATURE OF GRANT.** By accepting the Award, Participant acknowledges, understands and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to the extent permitted under the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**the grant of the Award is voluntary and occasional and does not create any contractual or other right to receive future grants of awards (whether on the same or different terms), or benefits in lieu of awards, even if awards have been granted in the past;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**the Award and any shares of Common Stock acquired under the Plan, and the income and value of same, are not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of- service payments, bonuses, long-service awards, vacation pay, pension or retirement or welfare benefits or similar payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)&nbsp;&nbsp;&nbsp;&nbsp;**the future value of the shares of Common Stock underlying the Award is unknown, indeterminable, and cannot be predicted with certainty;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)&nbsp;&nbsp;&nbsp;&nbsp;**neither the Company nor any Subsidiary, Parent or Affiliate of the Company shall be liable for any foreign exchange rate fluctuation between Participant's local currency (if other than the United States Dollar) and the United States Dollar that may affect the value of Participant's Award or of any amounts due to Participant pursuant to the vesting of the Award or the subsequent sale of any shares of Common Stock received;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f)&nbsp;&nbsp;&nbsp;&nbsp;**notwithstanding anything to the contrary in the Plan, for the purposes of the Award, Participant's Continuous Service Status will be considered terminated as of the date Participant is no longer actively providing services to the Company or Subsidiary, Parent or Affiliate of the Company (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or is otherwise providing services, or the terms of Participant's employment or service agreement, if any), provided that, unless otherwise expressly provided in the Agreement or determined by the Company, the vesting of the Award will not continue during any notice period or any period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is employed or where Participant is otherwise providing services, or the terms of Participant's employment or service agreement, if any (regardless, in each case, of whether or not Participant is providing services to the Company or a Subsidiary, Parent or Affiliate of the Company during such notice period, garden leave period, or similar period); and the Board shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Award (including whether Participant may still be considered to be providing services while on a leave of absence); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g)&nbsp;&nbsp;&nbsp;&nbsp;**no claim or entitlement to compensation or damages shall arise from forfeiture of this Award resulting from the termination of Participant's employment or engagement (as applicable) (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment or service agreement, if any), and in consideration of the grant of this Award to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim against the Company (or any Subsidiary, Parent or Affiliate of the Company), waives Participant's ability, if any, to bring any such claim, and releases the Company (or any Subsidiary, Parent or Affiliate of the Company) from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;DATA PRIVACY**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)&nbsp;&nbsp;&nbsp;&nbsp;**To the extent that the processing of Participant's personal data by the Company (or any Subsidiary, Parent or Affiliate of the Company) under and/or in connection with this Agreement falls within the territorial scope of (i) Regulation (EU) 2016/679 of the European Parliament and of the Council of 27th April 2016 (the "EU GDPR"), (ii) the EU GDPR as it forms part of UK law by virtue of section 3 of the European Union (Withdrawal) Act 2018, as amended (the "UK GDPR"), and/or (iii) equivalent legislation and/or legislation implementing

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and/or supplementing the EU GDPR or UK GDPR in any member state of the European Economic Area or the UK or Switzerland, Company (and any Subsidiary, Parent or Affiliate of the Company) will carry out such processing in accordance with their EEA/UK privacy notice from time to time in force, the latest version of which has been provided to Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**Except where (a) above applies, Participant explicitly and unambiguously acknowledges and consents to the collection, use, transfer and other processing of Participant's personal data as described in this paragraph (b) by the Company (or any Subsidiary, Parent or Affiliate of the Company) for the purpose of implementing, administering and managing Participant's participation in the Plan. Participant understands that the Company (and any Subsidiary, Parent or Affiliate of the Company) holds certain personal data about Participant, including, but not limited to, Participant's name, home address, telephone number, date of birth, social security number (or other identification number), salary, nationality, job title, any shares of stock or directorships held by Participant in the Company, details of all Awards, options or any other entitlement to shares of Common Stock awarded, cancelled, purchased, exercised, vested, unvested or outstanding in Participant's favor for the purpose of implementing, managing and administering the Plan. Participant understands that this personal data may be transferred to any third parties assisting in the implementation, administration and management of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;LANGUAGE**. Participant acknowledges that Participant is sufficiently proficient in the English language, or has consulted with an advisor who is sufficiently proficient in English, so as to allow Participant to understand the terms and conditions of this Agreement. If Participant has received this Agreement, or any other document related to this Award and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;FOREIGN ASSET/ACCOUNT, EXCHANGE CONTROL AND TAX REPORTING**. Participant may be subject to foreign asset/account, exchange control and/or tax reporting requirements as a result of the acquisition, holding and/or transfer of shares of Common Stock or cash (including dividends and the proceeds arising from the sale of shares of Common Stock) derived from Participant's participation in the Plan in, to and/or from a brokerage/bank account or legal entity located outside Participant's country. The applicable laws in Participant's country may require that Participant report such accounts, assets and balances therein, the value thereof and/or the transactions related thereto to the applicable authorities in such country. Participant may also be required to repatriate sale proceeds or other funds received as a result of Participant's participation in the Plan to Participant's country through a designated bank or broker within a certain time after receipt. Participant acknowledges that it is Participant's responsibility to be compliant with such regulations and Participant is encouraged to consult with its personal legal advisor for any details.

**Part 2 – Country-Specific Terms and Conditions**

**CANADA**

**Grant of the Award**. Notwithstanding any other provision governing Participant's Award, except as set forth below under "Withholding Obligations", the Company may not issue

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Participant the cash equivalent of Common Stock, in part or in full satisfaction of the delivery of Common Stock upon vesting of Participant's Award.

**Continuous Service**. Notwithstanding anything else in the Plan or the Agreement, Participant's employment or engagement (as applicable) will be deemed to end on the date when Participant ceases to be actively providing services to the Company (or any applicable Subsidiary, Parent or Affiliate), regardless of whether the cessation of Participant's employment or engagement was lawful, and shall not include any period of statutory, contractual, common law, civil law or other reasonable notice of termination of employment or any period of salary continuance or deemed employment. As a result, if Participant receives notice of termination for a reason other than Cause, and the Company (or any applicable Subsidiary, Parent or Affiliate) does not require Participant to continue to attend at work and elects to provide Participant with a payment in lieu of notice, Participant's employment or engagement (as applicable) will end on the date Participant receives such notice, as opposed any later date when severance payments to Participant cease. Notwithstanding the foregoing, if applicable employment standards legislation explicitly requires continued entitlement to vesting during a statutory notice period, Participant's right to vest in this Award under the Plan, if any, will terminate effective as of the last day of Participant's minimum statutory notice period, but Participant will not earn or be entitled to pro-rated vesting if the vesting date falls after the end of Participant's statutory notice period, nor will Participant be entitled to any compensation for lost vesting.

**No Fractions**. No fractional shares of Common Stock shall be issued under the Agreement and no cash amount shall be payable in respect thereof.

**Voluntary Participation**. Participant's participation in the Plan is voluntary, and Participant acknowledges and agrees that it has not been induced to enter into the Agreement or acquire any Award or shares of Common Stock by expectation of employment, engagement or appointment or continued employment, engagement or appointment.

**Securities Law Information**. Participant understands that it is permitted to sell the shares of Common Stock acquired pursuant to any Awards, provided that the Company is a foreign issuer that is not a public issuer in Canada and the sale of the shares of Common Stock acquired pursuant to the Plan takes place: (i) through an exchange, or a market, outside of Canada on the distribution date; or (ii) to a person or company outside of Canada. For purposes hereof, a foreign issuer is an issuer that: (i) is not incorporated or existing pursuant to the laws of Canada or any jurisdiction of Canada; (ii) does not have its head office in Canada; and (iii) does not have a majority of its executive officers or directors ordinarily resident in Canada. If any designated broker is appointed under the Plan, Participant shall sell such securities through the designated broker.

**Foreign Asset/Account Reporting Information**. Canadian residents are required to report any foreign property on form T1135 (Foreign Income Verification Statement) if the total cost of their foreign property exceeds C$100,000 at any time in the year. It is Participant's responsibility to comply with these reporting obligations, and Participant should consult with its own personal tax advisor in this regard.

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**Award Not a Service Contract**. In Section 24(a) of the Agreement, references to "and with or without notice" are deleted.

**Withholding Obligations**. Section 7 of the Agreement is deleted and replaced with the following:

On or before the time Participant receives a distribution of the shares of Common Stock underlying Participant's Restricted Stock Units, and at any other time as reasonably requested by the Company in accordance with applicable tax laws, Participant agrees to make adequate arrangements satisfactory to the Company or adequate provision in cash for any sums required to satisfy the federal, state, local and foreign tax withholding and source deduction obligations of the Company (or any applicable Subsidiary, Parent or Affiliate) that arise in connection with Participant's Award (the "***Withholding Taxes***"). Additionally, the Company (or any applicable Subsidiary, Parent and Affiliate) may satisfy all or any portion of the Withholding Taxes obligation relating to Participant's Award by any of the following means or by a combination of such means: (i) withholding from any compensation otherwise payable to Participant by the Company (or any applicable Subsidiary, Parent or Affiliate); (ii) causing Participant to tender a cash payment; (iii) permitting Participant to enter into a "same day sale" commitment, if applicable, with a broker- dealer (subject to Participant's written consent) whereby Participant irrevocably elects to sell a portion of the shares of Common Stock to be delivered in connection with Participant's Restricted Stock Units to satisfy the Withholding Taxes and whereby the broker-dealer irrevocably commits to forward the proceeds necessary to satisfy the Withholding Taxes directly to the Company (or the applicable Subsidiary, Parent or Affiliate); or (iv) permitting Participant (subject to Participant's written consent) to surrender Restricted Stock Units to the Company for a cash payment which shall be used to satisfy the Withholding Taxes, whereby the number of Restricted Stock Units that may be surrendered for a cash payment shall be equal to the Withholding Taxes divided by a Fair Market Value (measured as of the date shares of Common Stock are otherwise issuable to Participant pursuant to Section 5). However, the Company does not guarantee that Participant will be able to satisfy the Withholding Taxes through any of the methods described in the preceding provisions and in all circumstances Participant remain responsible for timely and fully satisfying the Withholding Taxes.

**Dividends**. Section 6 of the Agreement is deleted and replaced with the following:

Participant may become entitled to be granted additional Restricted Stock Units equal to any cash dividends and other distributions paid with respect to a corresponding number of shares of Common Stock in respect of the Restricted Stock Units covered by Participant's Award. In such event, Participant will automatically be granted additional Restricted Stock Units subject to the Award (the "Dividend Units"), and such Dividend Units shall be subject to the same forfeiture restrictions and restrictions on transferability, and same timing requirements for issuance of shares, as apply to the Restricted Stock Units subject to the Award with respect to which the Dividend Units relate.

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**Consultants**. For purposes of the Agreement and the Plan, the definition of "Consultant" as set out in the Plan shall be deleted in its entirety and replaced with the following:

"Consultant" means any person, including an advisor, who is (i) engaged pursuant to a written contract with the Company or an Affiliate to render consulting or advisory services, other than services provided in relation to a distribution of securities of the Company or an Affiliate, is compensated for such services and spends or will spend a significant amount of time and attention on the affairs and business of the Company or an Affiliate, or (ii) serving as a member of the board of directors of an Affiliate and is compensated for such services. However, service solely as a Director, or payment of a fee for such service, will not cause a Director to be considered a "Consultant" for purposes of the Plan. Notwithstanding the foregoing, a person is treated as a Consultant under this Plan only if a Form S-8 Registration Statement under the Securities Act is available to register either the offer or the sale of the Company's securities to such person."

The following provisions apply to residents of Quebec:

**Data Privacy**. The following provision supplements Section 3 of Part 1 of this Appendix:

Participant hereby authorizes the Company and its representatives to discuss with and obtain all relevant information from all personnel, professional or not, involved in the administration and operation of the Plan. Participant further authorizes the Company, its Subsidiaries, Parent and any Affiliates and any stock plan service provider that may be selected by the Company to assist with the Plan to disclose and discuss the Plan with their respective advisors. Participant further authorizes the Company and any Affiliates to record such information and to keep such information in Participant's employee file. Participant acknowledges and agrees that Participant's personal information, including sensitive personal information, may be transferred or disclosed outside of the province of Quebec, including to the United States. Finally, Participant acknowledges and authorizes the Company and other parties involved in the administration of the Plan to use technology for profiling purposes and to make automated decisions that may have an impact on Participant or the administration of the Plan.

**Language Consent**. The parties acknowledge that it is their express wish that the Agreement, as well as all documents, notices and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English.

*Les parties reconnaissent avoir exigé la rédaction en anglais de cette convention («Agreement»), ainsi que cette Annexe, ainsi que de tous documents, avis et procédures judiciaires, exécutés, donnés ou intentés en vertu de, ou liés directement ou indirectement à, la présente convention.*

**ESTONIA**

**Fringe Benefit Tax**. By accepting the Award, Participant agrees and consents to a reduction in the number of Shares otherwise issuable to him or her upon vesting of the Award in an amount determined by the Company to be appropriate to offset the additional tax cost to the Company or

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the Participant's employer resulting from the imposition of the employer fringe benefit tax on the Award. Participant further agrees to any other reasonable method adopted by the Company to recoup from the Award this additional tax cost. Participant agrees to execute any other consents, elections or other documents to accomplish the foregoing, promptly upon request by the Company.

**Language Consent**. Võttes vastu piiratud aktsiaühikute (Restricted Stock Units) pakkumise, kinnitab Osaleja, et ta on ingliskeelsena esitatud pakkumisega seotud dokumendid (Optsioonilepingu ja Plaani) läbi lugenud ja nendest aru saanud ning et ta ei vaja nende tõlkimist eesti keelde. Sellest tulenevalt Osaleja nõustub viidatud dokumentide tingimustega.

By accepting the grant of the Restricted Stock Units, Participant confirms having read and understood the documents related to the grant (the Agreement and the Plan), which were provided in the English language, and that he or she does not need the translation thereof into the Estonian language. Participant accepts the terms of those documents accordingly.

**INDIA**

**Vesting Restriction**. The following supplements the Agreement.

Participant must comply at the time of vesting with applicable laws and regulations of India, including but not limited to the Foreign Exchange Management Act, 1999 of India and the rules, regulations and amendments thereto ("***FEMA***"). Upon acquisition of the publically traded stock under the Plan, Participant will not be required to immediately sell the stock. However, should Participant subsequently sell the stock purchased under the Plan, Participant will be required to repatriate any sale proceeds to India immediately upon such sale and in any event within 90 days of the date of sale or such other period of time as may be required under applicable regulations.

Further, the Plan and the corresponding documents have neither been delivered for registration nor are they intended to be registered with any regulatory authorities in India. These documents are not intended for distribution and are meant solely for the consideration of the person to whom they are addressed and should not be reproduced by Participant.

**MEXICO**

***Terms and Conditions***

**Labor Law Policy and Acknowledgement.** By accepting the grant of the Award, Participant expressly recognizes that the Company, with registered offices at Paseo de la Reforma No. 333, Cuahtémoc, C.P. 06500, Ciudad de México, is solely responsible for the operation and administration of the Plan and that Participant's participation in the Plan and any payment Participant may receive pursuant to the Award does not constitute an employment relationship between Participant and the Company since Participant is participating in the Plan on a wholly commercial basis and Participant's sole employer is Motive Technologies Mx, S. de R.L. de C.V. (the "***Mexico Employer***"). Based on the foregoing, Participant expressly recognizes that the Plan and the benefits that Participant may derive from participating in the Plan do not establish any

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rights between Participant and the Employer and do not form part of the employment conditions and/or benefits provided by the Mexico Employer and any modification of the Plan or its termination shall not constitute a change or impairment of the terms and conditions of Participant's employment. Consequently, Participant expressly acknowledges that any income derived from Participant's participation in the Plan shall not be considered part of Participant's salary with the Mexico Employer.

Participant further understands that Participant's participation in the Plan is as a result of a unilateral and discretionary decision of the Company; therefore, the Company reserves the absolute right to amend and/or discontinue Participant's participation at any time without any liability to Participant.

Finally, Participant hereby declares that Participant does not reserve to Participant any action or right to bring any claim against the Company for any compensation or damages regarding any provision of the Plan or the benefits derived under the Plan, and Participant therefore grants a full and broad release to the Company, its Subsidiaries, Affiliates, branches, representation offices, its shareholders, officers, agents or legal representatives with respect to any claim that may arise.

**Política de Derecho Laboral y Reconocimiento**. *Al aceptar las Unidades de Acciones Restringidas, el Participante expresamente reconoce que Motive Technologies, Inc. con domicilio social en Paseo de la Reforma No. 333, Cuahtémoc, C.P. 06500, Ciudad de México es el único responsable de la administración del Plan y que la participación del Participante en el Plan y compra de Acciones no constituye una relación de trabajo entre el Participante y la Empresa, toda vez que la participación del Participante en el Plan es de carácter comercial y el único patrón del Participante es Motive Technologies Mx, S. de R.L. de C.V. (el "****Empleador de México****"). Derivado de lo anterior, el Participante expresamente reconoce que el Plan y los beneficios que el Participante obtenga por la participación en el Plan no establecen derecho alguno entre el Participante y el Patrón, el Empleador de México, y no forman parte de las condiciones de los Servicios del Participante y/o las prestaciones otorgadas por el Empleador de México y cualquier modificación del Plan o su terminación no constituyen un cambio o impedimento de los términos y condiciones del Servicio del Participante.*

*Asimismo, el Participante entiende que su participación en el Plan es el resultado de una decisión unilateral y discrecional por parte de la Empresa, por lo que, la Empresa se reserva el derecho absoluto de modificar y/o dar por terminada la participación del Participante en el Plan en cualquier tiempo, sin responsabilidad alguna hacia el Participante.*

*Finalmente, el Participante manifiesta que no se reserva acción o derecho alguno que ejercitar en contra de la Empresa por cualquier daño o perjuicio en relación a las disposiciones del Plan o los beneficios establecidos en el mismo, por lo que, el Participante otorga el finiquito más amplio que en derecho proceda a la Empresa, sus accionistas, funcionarios, agentes o representantes legales y cualquier entidad del grupo de la Empresa con respecto a cualquier demanda que pudiera surgir.*

***Notifications***

Securities Law Information. The Award and any Shares acquired under the Plan have not been registered with the National Register of Securities maintained by the Mexican National Banking and Securities Commission and cannot be offered or sold publicly in Mexico. In addition, the Plan, the Agreement and any other document relating to the Award may not be publicly

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distributed in Mexico. These materials are addressed to Participant because of Participant's existing relationship with the Company or one of the Companies subsidiaries or affiliates, and these materials should not be reproduced or copied in any form. The offer contained in these materials does not constitute a public offering of securities, but rather constitutes a private placement of securities addressed specifically to individuals who are present employees of the Company or one of its subsidiaries or affiliates made in accordance with the provisions of the Mexican Securities Market Law, and any rights under such offering shall not be assigned or transferred.

**PAKISTAN**

By accepting the grant of your Restricted Stock Units, you agree that your Restricted Stock Units shall be subject to such terms and conditions as may be set out in any permission granted by the State Bank of Pakistan and you agree that this section of the Appendix may be amended in the future to reflect such terms and conditions.

***Terms and Conditions***

**Local Regulatory Requirements**. This provision supplements the Agreement.

[*Pending clarification from the special permission granted by the State Bank of Pakistan*].

***Notifications***

**Exchange Control Information**. The proceeds must be converted into local currency and the receipt of proceeds must be reported to the State Bank of Pakistan (the "SBP") by filing a "Proceeds Realization Certificate" issued by the bank converting the proceeds with the SBP. Participant should consult its personal advisor prior to vesting and settlement of the Restricted Stock Units and sale of Shares to ensure compliance with the applicable exchange control regulations in Pakistan, as such regulations are subject to frequent change. Participant is responsible for ensuring compliance with all exchange control laws in Pakistan related to the Participant's vesting and settlement of the Restricted Stock Units.

**POLAND**

***Notifications***

**Exchange Control Information**. If Participant maintains bank or brokerage accounts holding cash and foreign securities (including shares of Common Stock) outside of Poland, Participant will be required to report information to the National Bank of Poland on transactions and balances in such accounts if the value of such cash and securities exceeds PLN 7 million. If required, such reports must be filed on special forms available on the website of the National Bank of Poland.

Further, any transfer of funds in excess of a certain threshold (generally, EUR 15,000) into or out of Poland must be effected through a bank account in Poland.

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Finally, Participant is required to store all documents connected with any foreign exchange transactions that Participant engages in for a period of five years, as measured from the end of the year in which such transaction occurred.

**TAIWAN**

**Data Privacy**. The following provision supplements Section 3 of Part 1 of this Appendix:

Participant hereby acknowledges having read and understood the terms regarding the collection, processing and transfer of Data contained in Section 3 of Part 1 of this Appendix and, by participating in the Plan, Participant agrees to such terms. In this regard, upon request of the Company or the Employer, Participant agrees to provide any executed data privacy consent form (or any other agreements or consents that may be required by the Employer or the Company that the Company and/or the Employer may deem necessary under applicable data privacy laws, either now or in the future). In addition to reviewing the Data, requesting additional information about the storage and processing of the Data, requiring any necessary amendments to the Data, or refusing or withdrawing the consents herein, Participant may request the Company to delete the Data, in any case without cost, by contacting the Stock Plan Administrator in writing. Participant understands that it will not be able to participate in the Plan if Participant fail to execute any such consent or agreement.

**Exchange Control Information**. Taiwanese residents may acquire and remit foreign currency (including proceeds from the sale of shares of Common Stock) into and out of Taiwan up to US$5,000,000 per year. Participant understands that if Participant is a Taiwanese resident, and the transaction amount is TWD$500,000 or more in a single transaction, Participant may need to submit a foreign exchange transaction form and provide supporting documentation to the satisfaction of the remitting bank.

**Securities Law Information**. The Restricted Stock Units and the shares of Common Stock underlying the Restricted Stock Units are available only for employees, consultants or directors of the Company and its Subsidiaries, Parent and Affiliates. It is not a public offer of securities by a Taiwanese company.

**UNITED KINGDOM**

**Responsibility for Taxes.** The following provision supplements Section 7 (Withholding Obligation) of the Agreement.

Without limitation to Section 7 of the Agreement, Participant agrees to be liable for any tax-related items related to Participant's participation in the Plan and legally applicable to Participant (which, for the purposes hereof, shall include to the extent permitted by law all liability to secondary Class 1 National Insurance contributions which the Company or the Employer is liable to account for and which Participant hereby agrees to bear) and hereby covenants to pay any such tax-related items, as and when requested by the Company or the Employer or by HM Revenue & Customs ("***HMRC***") (or any other tax authority or any other relevant authority). Participant agrees to indemnify and keep indemnified the Company and the Employer against

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any tax-related items that they are required to pay or withhold or have paid or will pay to HMRC (or any other tax authority or any other relevant authority) on Participant's behalf.

Notwithstanding the foregoing, if Participant is an executive officer or director (as within the meaning of Section 13(k) of the Exchange Act), Participant understands that Participant may not be able to indemnify the Company for the amount of any tax-related items not collected from or paid by Participant, in case the indemnification could be considered to be a loan. In this case, the tax-related items not collected or paid may constitute a benefit to Participant on which additional income tax and National Insurance contributions ("***NICs***") may be payable. Participant acknowledges that Participant will be personally responsible for reporting and paying any income tax due on this additional benefit directly to the HMRC under the self- assessment regime and for paying the Company or the Employer, as applicable, for the value of any employee NICs due on this additional benefit, which may also be recovered from Participant by any of the means referred to in Section 7 of the Agreement.

**Section 431 Election**. As a condition of Participant's participation in the Plan and the vesting of the Restricted Stock Units, Participant agrees that, jointly with the Employer, Participant shall enter into a joint election within Section 431 of the U.K. Income Tax (Earnings and Pensions) Act 2003 ("***ITEPA 2003***") in respect of computing any tax charge on the acquisition of "Restricted Securities" (as defined in Sections 423 and 424 of ITEPA 2003), and that Participant will not revoke such election at any time (the "***431 Election***"). This 431 Election will be to treat any shares of Common Stock acquired pursuant to the settlement of the Restricted Stock Units as if such shares of Common Stock were not "Restricted Securities" (for U.K. tax purpose only). Participant must enter into the form of 431 Election provided to Participant concurrent with the execution of the Agreement.

**Employer NICs.** As a condition of Participant's participation in the Plan, Participant agrees to accept any liability for secondary Class 1 National Insurance contributions that may be payable by the Company or the Employer (or any successor to the Company or the Employer) in connection with the Restricted Stock Units and any event giving rise to tax-related items (the "***Employer NICs***"). The Employer NICs may be collected by the Company or the Employer using any of the methods described in the Plan or in Section 7 of the Agreement.

Without prejudice to the foregoing, by accepting the Restricted Stock Units and if requested by the Company, Participant agrees to enter into a joint election with the Company and/or the Employer, the form of such joint election being formally approved by HMRC (the "***NIC Joint Election***"), and any other consent or election required by the Company or the Employer in respect of the Employer NICs liability. Participant further agrees to execute such other elections as may be required by any successor to the Company and/or the Employer for the purpose of continuing the effectiveness of Participant's NIC Joint Election (if made).

If, having been requested to enter into a NIC Joint Election, Participant does not enter into the NIC Joint Election prior to the first vesting date or any event giving rise to tax-related items, or if approval of the NIC Joint Election has been withdrawn by HMRC, or if the NIC Joint Election is jointly revoked by Participant and the Company, the Restricted Stock Units shall, without any liability to the Company, be forfeited. Unless expressly revoked, the NIC Joint Election (if

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made) shall apply to the Restricted Stock Units and to all future Restricted Stock Units that may granted by the Company to Participant.

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**ATTACHMENT II**

**2013 AMENDED AND RESTATED EQUITY INCENTIVE PLAN**

## Exhibit 10.5

**Exhibit 10.5**

**Offer Letter**

October 24, 2022

Adam Block

**VIA email to**

Dear Adam,

On behalf of the Motive team I am pleased to be the first to say congratulations on your offer.

Your offer of employment with Motive Technologies, Inc. (the "Company") is on the following terms and conditions:

Position: Your job title will be VP, Enterprise Sales and you will report to Brian Germain. You will be a full-time regular employee. Your manager will further delineate your work responsibilities. Of course, the Company may change your position, compensation, duties, and work location from time to time at its discretion.

Start Date: Your employment will commence on November 21, 2022. This is a remote position meaning that you do not need to report a specific office. We understand you will be working remotely from Remote - US - Kentucky. If you decide to work remotely from a different state, please let &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; know. Please be sure to follow the rules set forth in our Global Mobility Policy which will be provided to you in your onboarding packet. While working remotely, you agree to only work from locations that allow you proper internet access to be able to do your job remotely.

Cash Compensation: If you accept this offer, your initial base salary will be paid at the rate of $275,000.00 per year, less all applicable tax and other withholdings and deductions. This position is a full-time exempt position, which means you will be paid your salary in regular installments, according to the Company's regular payroll process, regardless of the number of hours you work per workweek, and you will not be eligible for overtime pay.

Incentive Pay Eligibility: You will be eligible for additional variable compensation under the terms of an incentive pay plan generally applicable to employees in your job classification (the "Plan"). Under the current Plan, your variable compensation at 100% of target achievement would be $275,000.00 on an annualized basis, such that your total on-target annualized earnings, including your base pay, would be $550,000.00 at 100% performance. Further, subject to your continued employment through the date of payment, you shall be entitled to receive variable compensation under the Plan for each of Q4 2022 and Q1 2023 at the target level, regardless of actual performance, with the amount for Q4 2022 pro-rated to your start date. The Plan agreement will be provided to you by your manager after you start employment. Please note that the terms and conditions of the Plan are reviewed periodically, and subject to revision at the Company's sole discretion.

Sign-on Advance: Within the first thirty (30) days of the start of your employment with the Company, you will be paid a sign-on advance of $30,000.00, less applicable payroll deductions, taxes, and withholdings. You will earn the full amount of the sign-on advance if you remain continuously employed with the Company in good standing for a total of twelve (12) months

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from your employment start date. Accordingly, if your employment terminates for any reason (regardless of whether such termination is a voluntary resignation or an involuntary termination) within twelve (12) months of your start date, then you will be required to repay a pro-rated amount of the gross (pre-tax) amount of the bonus based on the number of days and months actually worked in the twelve (12) month period, within thirty (30) days of your employment separation date. If your employment terminates for any reason prior to the date the Sign-on Advance is paid, you will not be paid or owed any portion of the Sign-on Advance.

Equity Compensation: Subject to approval by Motive's Board of Directors, you will be granted 375,000 restricted stock units covering shares of Motive's common stock (the "RSUs"), subject to adjustment in connection with any stock split or similar capitalization event. The RSUs will be subject to the terms and conditions of Motive's Amended and Restated 2013 Equity Incentive Plan, as amended from time to time (the "2013 Plan"), and Motive's standard form of RSU grant notice and agreement thereunder (the "RSU Agreement"). The RSUs will be subject to two requirements to vest, both of which must occur before the RSUs expire: (i) a time and service-based requirement (the "Time and Service Based Requirement"); and (ii) a liquidity event requirement (i.e., a change in control of Motive or an initial public offering or other public trading event of Motive's equity securities). The Time and Service Based Requirement will generally be satisfied (unless otherwise determined by Motive's Board) as to 1/16th of the total number of RSUs on the first Quarterly Installment Date occurring on or after the vesting commencement date (which will be your employment start date with Motive), subject to your continuous eligible service with Motive (or a subsidiary thereof) through each such date. "Quarterly Installment Date" means March 15, June 15, September 15 and December 15 of a given calendar year.

In the event of an Acquisition or Other Combination and your termination by the Company or its successor without Cause within three (3) months prior to, at the time of, or within twelve (12) months following consummation of the Acquisition or Other Combination, then, upon satisfaction of the General Release requirement set forth below, 25% of the then unvested portion of the RSUs will automatically become vested. Capitalized terms not defined in this paragraph have the meaning set forth in the 2013 Plan and RSU Agreement.

As a condition of your receipt of any vesting acceleration, you will be required to execute and allow to become effective a general release of claims in favor of the Company in a form satisfactory to the Company, and provided by the Company to you (a "***General Release***"), within sixty (60) days following your employment termination. Unless the General Release is timely signed by you, is delivered to the Company, and becomes effective within the required period, vesting acceleration of your RSUs shall not occur. The General Release shall not require you to release claims that cannot be released as a matter of law.

Employee Benefits: You will be eligible to participate in Company-sponsored benefits in accordance with the terms of the applicable benefit plans. The Company may modify job titles, wages and benefits from time to time as it deems necessary.

At-Will Employment: Your employment with the Company is for no specified period and constitutes "at-will" employment, meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause, and with or without advance notice.

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Contingencies: The Company will undertake a background investigation and reference check in accordance with applicable law. This investigation and reference check may include a consumer report, as defined by the Fair Credit Reporting Act ("**FCRA**"), 15 U.S.C. 1681a, and/or an investigative consumer report, as defined by FCRA, 15 U.S.C. 1681a. This investigation will not include information bearing on your credit worthiness. This job offer is contingent upon a clearance of such a background investigation and/or reference check and upon your written authorization to obtain a consumer report and/or investigative consumer report. Additional information about this is contained at the end of this letter, and you will be asked to sign an authorization form so that the Company may conduct your background check. The Company is using Checkr to conduct background checks and CrossChq to conduct reference checks.

Right to Work: For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of your date of hire, or our employment relationship with you may be terminated.

Confidential Information and Invention Assignment Agreement: This offer is conditioned on your signing and complying with the At-Will Employment, Employee Invention Assignment, Confidentiality, and Arbitration", which will be provided prior to your start date. This agreement contains a mutual arbitration clause.

Restrictive Covenants: This offer is contingent upon your express representation that you are not presently subject to any restrictive covenants (non-solicitation, non-compete, etc.) by or in connection with any former employers or other parties that would restrict your activities on behalf of the Company, and you have not unlawfully taken any proprietary or confidential information from a former employer or breached a contract concerning same. We also ask that, if you have not already done so, you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit the manner in which you may be employed. It is the Company's understanding that any such agreements will not prevent you from performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. Similarly, you agree not to bring any third party confidential information to the Company, including that of your former employer, and that in performing your duties for the Company you will not in any way utilize any such information.

Company Rules: As a Company employee, you will be expected to abide by the Company's rules and standards. Specifically, you will be required to sign an acknowledgment that you have read and that you understand the Company's rules of conduct which are included in the Company Handbook*.*

Entire Agreement: This offer, along with the Confidentiality Agreement, forms the complete and exclusive agreement regarding the terms and conditions of your employment with the Company, and supersedes any prior representations or agreements concerning your employment with the Company, whether written or oral. You acknowledge and agree that you are not relying on any statements or representations concerning the Company or your employment with the Company

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except those made in this Offer Letter. Modifications or amendments to this agreement, other than those changes expressly reserved to the Company's discretion in this letter, must be made in a written agreement signed by you and the Chief Executive Officer of the Company. If any provision of this offer letter agreement is determined to be invalid or unenforceable, in whole or in part, this determination shall not affect any other provision of this offer letter agreement and the provision in question shall be modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible under applicable law.

Please sign and date this letter and return by October 24, 2022, if you wish to accept employment at the Company under the terms described above. The At-Will Employment, Employee Invention Assignment, Confidentiality, and Arbitration Agreement will be sent to you electronically via our onboarding system before you start.

Congratulations again, and I look forward to welcoming you to the team.

Sincerely,

*By*&nbsp;&nbsp;&nbsp;&nbsp;/s/ Shoaib Makani

Shoaib Makani, CEO

**I hereby agree to and accept employment with the Company on the terms and conditions set forth in this offer letter.**

Adam Block, /s/ Adam Block

10/24/2022

## Exhibit 10.6

**Exhibit 10.6**

**Offer Letter**

October 9, 2020

**VIA email to**

Shu White

Dear Shu,

On behalf of the KeepTruckin team I am pleased to be the first to say congratulations on your offer. We hope you will join us in creating modern solutions that connect the world's trucks.

Your offer of employment with Keep Truckin, Inc. (the "Company") is on the following terms and conditions:

Position. Your job title will be General Counsel and you will report to Shoaib Makani. You will be a regular, full-time employee.

Start Date. Your employment will commence on November 16th, 2020. You will be providing services from the Company's San Francisco location.

Cash Compensation: If you accept this offer, your initial base salary will be paid at the rate of $300,000.00 per year, less all applicable tax and other withholdings and deductions. This position is a full-time exempt position, which means you will be paid your salary in regular installments, according to the Company's regular payroll process, regardless of the number of hours you work per workweek, and you will not be eligible for overtime pay.

Bonus Compensation: You will be eligible for an annual bonus of up to 25% of your base salary. You will earn this bonus if: (1) you meet certain management by objective criteria that the Company will put into place within 30 days of your start date and then within 30 days of the start of the year thereafter; and (2) the Company meets performance objectives (which also will be set within 30 days of your start date and then within 30 days of the start of the year thereafter); and (3) you are employed on the date the bonus is paid. The Company will determine whether the annual bonus for the prior year was earned in January of each year, and the bonus will be paid on the first regularly scheduled payroll date following January 31. For the year 2020, your bonus will be prorated based on the number of months in which you work. Your bonus will be prorated for any time period in which you do not work full-time or during which you are on a leave of absence (not including ordinary vacation or paid sick leave).

Equity Compensation: Subject to the approval of the Company's Board of Directors (the "Board"), you will be granted 1,032,286 Restricted Stock Units ("RSUs"), pursuant to the Company's Amended and Restated 2013 Equity Incentive Plan and standard form of Restricted Stock Unit Award agreement. As will be described more fully in the Plan and the Restricted Stock Unit Award agreement (both of which will be provided to you after the Board approves the RSU grant, there are two vesting requirements for the RSUs: (1) a Time and Service Requirement; and (2) a Liquidity Event Requirement.

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Subject to the approval of the Board, in the event of a Change of Control (as defined below) and either (i) your termination by the Company or its successor without Cause (as defined below) or (ii) your resignation for Good Reason (as defined below), in either case within ninety (90) days prior to, at the time of, or within twelve (12) months following consummation of the Change of Control, then, upon satisfaction of the General Release requirement (as set forth below), 100% of the then unvested portion of the RSUs and any other then-unvested and outstanding equity based awards previously granted to you by the Company will automatically become vested and exercisable, as applicable; provided, however, that 100% of the then-unvested portion of the RSUs and any such other then-unvested and outstanding equity-based awards previously granted to you by the Company will automatically become vested and exercisable immediately prior to and effective contingent upon a Change of Control if the RSU or such other then-unvested equity or equity-based award is not equitably assumed, substituted or replaced upon such Change of Control.

The term "Change of Control" means, in each case in one transaction or a series of transactions, (1) a sale of all or substantially all of the Company's assets, (2) any merger, consolidation or other business combination transaction of the Company with or into another corporation, entity or person, other than a transaction in which the holders of at least a majority of the shares of voting capital stock of the Company outstanding immediately prior to such transaction continue to hold (either by such shares remaining outstanding or by their being converted into shares of voting capital stock of the surviving entity) at least a majority of the total voting power represented by the shares of voting capital stock of the Company (or the surviving entity) outstanding immediately after such transaction in substantially the same proportion immediately after such transaction as existed immediately before such transaction; provided, however, that a bona fide equity financing shall not be deemed a Change of Control, or (3) the direct or indirect acquisition (including by way of a tender or exchange offer) by any person, or persons acting as a group, of beneficial ownership or a right to acquire beneficial ownership of shares representing a majority of the voting power of the then outstanding shares of capital stock of the Company.

"Cause" for termination will exist if you are terminated by the Company for any of the following reasons: (i) your conviction of or plea of nolo contendere to any felony or crime of moral turpitude; (ii) your act of fraud against the Company or a Parent (as defined in the Plan) or Subsidiary (as defined in the Plan) of the Company; (iii) unauthorized use or disclosure by you of any proprietary information or trade secrets of the Company or a Parent or Subsidiary of the Company; (iv) your gross negligence or willful misconduct in the performance of your duties that has a material adverse effect on the Company or a Parent or Subsidiary of the Company; and/or (v) your violation of the Company's anti- discrimination and anti-harassment policies (as determined by the Company in its sole discretion). The determination as to whether you are being terminated for Cause shall be made in good faith by the Company and shall be final and binding.

"Good Reason" for termination will exist if one of the following events occurs without your prior written consent: (x) a relocation of your principal workplace by more than fifty (50) miles from your then-current workplace, (y) an adverse change in title or reporting or a material diminution in your duties, responsibilities or authorities; provided that a transfer to a position that is substantially similar to the position held prior to the Change of Control shall not, in and of itself, constitute a material diminution in your authority, duties or job responsibilities; (z) your base salary is reduced by more than 10% (other than in connection with substantially similar

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decreases of base salaries of other similarly situated employees of the Company); and, in each case of (x), (y) and (z), if you terminate your employment within 60 days following the event that constitutes Good Reason and after having provided the Company written notice of such event, and the Company fails to reasonably cure the event within 30 days after receipt of your written notice.

As a condition of your receipt of any vesting acceleration as set forth in this letter, you will be required to execute and allow to become effective a general release of claims in favor of the Company in a form satisfactory to the Company, and provided by the Company to you (a "General Release"), within sixty (60) days following your employment termination. Unless the General Release is timely signed by you, is delivered to the Company, and becomes effective within the required period (the date on which the Release becomes effective, the "Release Date"), vesting acceleration of your RSUs and any other equity-based awards as provided in this letter, the Plan and your Restricted Stock Unit award agreement shall not apply, and the RSUs and any other equity based awards may be exercised, as applicable, following the date of your termination only to the extent provided under their original terms in accordance with the Company's 2013 Equity Incentive Plan and the applicable Restricted Stock Unit Award agreement or other award agreement. The parties hereby acknowledge and agree that the General Release shall not require you to release claims (i) to vested or accrued amounts, benefits and entitlements under any benefit plan or arrangement of the Company or its affiliates, including claims to enforce the terms of the General Release, (ii) for indemnification or, if applicable, D&O coverage as an officer of the Company or any of its affiliates, or (iii) that cannot be released as a matter of law.

Employee Benefits: You will be eligible to participate in Company-sponsored benefits in accordance with the terms of the applicable benefit plans.

The Company may modify job titles, wages and benefits from time to time as it deems necessary provided that such modifications do not in any way alter your Change of Control rights as set forth above.

At-Will Employment. Your employment with the Company is for no specified period and constitutes "at-will" employment, meaning that either you or the Company may terminate your employment at any time and for any reason, with or without Cause, and with or without advance notice.

Contingencies. The Company will undertake a background investigation and reference check in accordance with applicable law. This investigation and reference check may include a consumer report, as defined by the Fair Credit Reporting Act ("**FCRA**"), 15 U.S.C. 1681a, and/or an investigative consumer report, as defined by FCRA, 15 U.S.C. 1681a. We will separately be providing you with information about a background credit check. This job offer is contingent upon a clearance of such a background investigation and/or reference check and upon your written authorization to obtain a consumer report and/or investigative consumer report. Additional information about this is contained at the end of this letter, and you will be asked to sign an authorization form so that the Company may conduct your background check. The Company is using Checkr to conduct background checks.

Right to Work. For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United

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States. Such documentation must be provided to us within three (3) business days of your date of hire, or our employment relationship with you may be terminated.

Confidential Information and Invention Assignment Agreement. This offer is conditioned on your signing and complying with the "At-Will Employment, Employee Invention Assignment, Confidentiality, and Arbitration Agreement", which will be provided to you prior to your start date via separate communication.

Restrictive Covenants. This offer is contingent upon your express representation that you are not presently subject to any restrictive covenants (non-solicitation, non-compete, etc.) by or in connection with any former employers or other parties that would restrict your activities on behalf of the Company, and you have not unlawfully taken any proprietary or confidential information from a former employer or breached a contract concerning same. We also ask that, if you have not already done so, you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit the manner in which you may be employed. It is the Company's understanding that any such agreements will not prevent you from performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. Similarly, you agree not to bring any third party confidential information to the Company, including that of your former employer, and that in performing your duties for the Company you will not in any way utilize any such information.

Company Rules. As a Company employee, you will be expected to abide by the Company's rules and standards. Specifically, you will be required to sign an acknowledgment that you have read and that you understand the Company's rules of conduct which are included in the Company Handbook*.*

Entire Agreement. This offer, along with the At-Will Employment, Employee Invention Assignment, Confidentiality, and Arbitration Agreement Forms the complete and exclusive agreement regarding the terms and conditions of your employment with the Company, and supersedes any prior representations or agreements concerning your employment with the Company, whether written or oral. You acknowledge and agree that you are not relying on any statements or representations concerning the Company or your employment with the Company except those made in this Offer Letter. Modifications or amendments to this agreement, other than those changes expressly reserved to the Company's discretion in this letter, must be made in a written agreement signed by you and the Chief Executive Officer of the Company. If any provision of this offer letter agreement is determined to be invalid or unenforceable, in whole or in part, this determination shall not affect any other provision of this offer letter agreement and the provision in question shall be modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible under applicable law.

Please sign and date this letter and return by October 15, 2020, if you wish to accept employment at the Company under the terms described above. The At-Will Employment, Employee Invention Assignment, Confidentiality, and Arbitration Agreement will be sent to you electronically via our onboarding system before you start.

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Congratulations again, and I look forward to welcoming you to the team.

Sincerely,

*By&nbsp;&nbsp;&nbsp;&nbsp;*/s/ Shoaib Makani

&nbsp;&nbsp;&nbsp;&nbsp;Shoaib Makani, CEO

**I hereby agree to and accept employment with the Company on the terms and conditions set forth in this offer letter.**

/s/ Shu White

10/9/2020

## Exhibit 10.8

**Exhibit 10.8**

**OFFICE SUBLEASE**

**X CORP.**,

a Nevada corporation

("Sublandlord")

and

**MOTIVE TECHNOLOGIES, INC.**,

a Delaware corporation,

("Subtenant")

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**TABLE OF CONTENTS**

**1.** **SUMMARY OF BASIC TERMS** **2**

**2.** **MASTER LEASE; DELIVERY, TERM, AND CONDITION** **4**

**3.** **USE OF PREMISES** **9**

**4.** **CERTIFIED ACCESS SPECIALIST** **11**

**5.** **SECURITY DEPOSIT; LETTER OF CREDIT** **11**

**6.** **RENT** **13**

**7.** **SUBTENANT'S SECURITY SYSTEM; TELECOMMUNICATIONS** **13**

**8.** **TAXES** **14**

**9.** **INSURANCE AND INDEMNITY** **15**

**10.** **DESTRUCTION BY FIRE OR OTHER CASUALTY; CONDEMNATION** **16**

**11.** **PARKING** **17**

**12.** **MAINTENANCE AND OFFICE SERVICES** **17**

**13.** **SUBTENANT ALTERATIONS AND SIGNAGE** **18**

**14.** **ASSIGNMENT AND SUBLETTING** **21**

**15.** **SUBORDINATION AND ATTORNMENT** **21**

**16.** **ESTOPPEL CERTIFICATES AND FINANCIAL STATEMENTS** **21**

**17.** **QUIET ENJOYMENT** **22**

**18.** **SURRENDER AND HOLDOVER** **22**

**19.** **BREACH, DEFAULT, AND REMEDIES** **23**

**20.** **SUBLANDLORD LIABILITY** **25**

**21.** **NOTICES** **26**

**22.** **BROKERAGE** **26**

**23.** **MASTER LEASE** **26**

**24.** **CONSENT OF MASTER LANDLORD TO SUBLEASE** **27**

**25.** **OFAC COMPLIANCE** **27**

**26.** **WAIVER OF TRIAL BY JURY; COUNTERCLAIMS** **28**

**27.** **RIGHT OF SUBLANDLORD TO PERFORM.** **28**

**28.** **GENERAL** **28**

EXHIBIT A&nbsp;&nbsp;&nbsp;&nbsp;FLOOR PLAN OF THE PREMISES

EXHIBIT B&nbsp;&nbsp;&nbsp;&nbsp;MASTER LEASE

EXHIBIT C&nbsp;&nbsp;&nbsp;&nbsp;REMAINING FF&E

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**OFFICE SUBLEASE**

("**<u>Sublease</u>**")

**X CORP.**, a Nevada corporation ("**<u>Sublandlord</u>**"), effective as of July ___, 2025 (the "**<u>Effective</u> <u>Date</u>**"), subleases the Premises described below, for the Term and on the terms and conditions set forth in this Sublease, to **MOTIVE TECHNOLOGIES, INC.**, a Delaware corporation ("**<u>Subtenant</u>**").

**1.&nbsp;&nbsp;&nbsp;&nbsp;*SUMMARY OF BASIC TERMS***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;**The Property**: 1355 Market Street, San Francisco, California.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;**The Premises**: The entire 11<sup>th</sup> Floor in the Building, as illustrated and depicted on **EXHIBIT A** attached hereto and incorporated herein; provided, however, the parties acknowledge that solely with respect to calculations herein derived from the Rentable Area of the Premises such as Base Rent, such calculations will be based on the Premises containing 25,000 square feet of Rentable Area.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;**The Building**: The building, associated parking facilities, walkways, landscaping and other improvements, located at the Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;**The Term**: From the Commencement Date to March 31, 2029 (the "**<u>Expiration Date</u>**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;**Commencement Date**: Thirty (30) days following the Effective Date and receipt of the Consent (hereinafter defined) from the Master Landlord to the Sublease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6&nbsp;&nbsp;&nbsp;&nbsp;**Base Rent**:

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| | | | |
|:---|:---|:---|:---|
| **<u>Period</u>** | **<u>Base Rent Per</u>**<br>**<u>Rentable Sq. Ft.</u>**<br>**<u>Per Year</u>** | **<u>Annual Base</u>**<br>**<u>Rent</u>** | **<u>Monthly Base</u>**<br>**<u>Rent</u>** |
| **Months 1 – 12\*** | **$35.00** | **$875000.00** | **$72916.67** |
| **Months 13 – 24\*** | **$36.05** | **$901250.00** | **$75104.17** |
| **Months 25 – 36\*** | **$37.13** | **$928287.50** | **$77357.29** |
| **Months 37 – March 31, 2029** | **$38.25** | **$956136.12** | **$79678.01** |

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If the Commencement Date does not occur on the first day of a calendar month, the Base Rent for the partial month in which the Commencement Date occurs shall be prorated for such partial month on the basis of a thirty (30)-day month, payable with the payment of the first monthly payment of Base Rent following the Initial Abatement Period (as defined below).

\*Notwithstanding anything to the contrary contained herein and provided that Subtenant is not in default of this Sublease continuing beyond expiration of all applicable notice and cure periods, Sublandlord hereby agrees to abate Subtenant's obligation to pay Monthly Base Rent for the following periods of the Term: (i) Months 1 and 2 (the "**<u>Initial Abatement Period</u>**"); (ii) Months 13 and 14; and (iii) Months 25 and 26 (the Initial Abatement Period, together with the abatement periods set forth in (ii) and (iii) immediately above, collectively, the "**<u>Abatement Period</u>**"). During such Abatement Period,

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Subtenant shall still be responsible for the payment of all of its other monetary obligations under this Sublease. During an Event of Default (as defined below) by Subtenant under the terms of this Sublease that results in early termination, Sublandlord shall be entitled to the recovery of the Monthly Base Rent abated under the provisions of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7&nbsp;&nbsp;&nbsp;&nbsp;**Option to Extend**: N/A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8&nbsp;&nbsp;&nbsp;&nbsp;**Base Year**: N/A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9&nbsp;&nbsp;&nbsp;&nbsp;**Security Deposit**: $79,678.01.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10&nbsp;&nbsp;&nbsp;&nbsp;**Permitted Use of Premises**: Subtenant shall be permitted to use and occupy the Premises only for general, executive and administrative offices, and a hardware laboratory (including, without limitation, hardware testing) and for no other purpose without Sublandlord's prior written consent, which consent may be withheld in Sublandlord's sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11&nbsp;&nbsp;&nbsp;&nbsp;**Parking Spaces**: N/A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12&nbsp;&nbsp;&nbsp;&nbsp;**Subtenant's Notice Address**:

Motive Technologies, Inc

3500 Dupont Hwy

Dover, DE 19901

Attention:

Email:

*And to:*

Motive Technologies, Inc

3500 Dupont Hwy

Dover, DE 19901

Attention: Legal Department

Email:

*With copies to:*

Cooley LLP

11951 Freedom Drive, 14th floor

Reston, VA 20190

Attn: John G. Lavoie, Esq.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13&nbsp;&nbsp;&nbsp;&nbsp;**Sublandlord's Notice Address**:

X Corp.

865 FM 1209 Building 2

Bastrop, Texas 78602

Attention:

Email:

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*With copies to:*

X Corp.

865 FM 1209 Building 2

Bastrop, Texas 78602

Attention: Legal Department

Email:

*And:*

X Corp.

c/o Savills Lease Administration

Dallas Arts Tower

2200 Ross Avenue, Suite 4800 East

Dallas, Texas 75201

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14&nbsp;&nbsp;&nbsp;&nbsp;**Subtenant's designated broker**: The Stitzel Company / Resource Commercial Real Estate Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15&nbsp;&nbsp;&nbsp;&nbsp;**Sublandlord's designated broker**: Jones Lang LaSalle

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16&nbsp;&nbsp;&nbsp;&nbsp;**Definition of Rent**: The term "**Rent**" shall be as defined in Section 6.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17&nbsp;&nbsp;&nbsp;&nbsp;**Total Amount Due upon Effective Date**: $298,428.02 (i.e., $218,750.01, as advance payment of three (3) installments of Base Rent due hereunder, plus the $79,678.01 Security Deposit). The amount due under this Section 1.17 shall be sent by Subtenant to Sublandlord not later than 5:00p.m. PST on the business day after the Effective Date and shall be delivered via wire transfer instructions to be provided by Sublandlord.

**2.&nbsp;&nbsp;&nbsp;&nbsp;*MASTER LEASE; DELIVERY, TERM, AND CONDITION***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;**Master Lease**. Subtenant hereby acknowledges and agrees that: (i) the Property is owned by SRI Nine Market Square LLC, a Delaware limited liability company (the "**<u>Master Landlord</u>**"); (ii) Master Landlord, as landlord, leases a portion of the Property to Sublandlord, as tenant and successor-in-interest to Twitter, Inc., a Delaware corporation, pursuant to that certain Office Lease dated as of April 20, 2011 (the "**<u>Original Lease</u>**"), as amended by that certain First Amendment to Lease dated as of May 16, 2011 (the "**<u>First Amendment</u>**"), Second Amendment to Lease dated as of September 30, 2011 (the "**<u>Second Amendment</u>**"), Third Amendment to Lease dated as of June 1, 2012 (the "**<u>Third</u> <u>Amendment</u>**"), Fourth Amendment to Lease dated as of September 24, 2013 (the "**<u>Fourth</u> <u>Amendment</u>**"), Fifth Amendment to Lease dated as of October 2, 2013 (the "**<u>Fifth Amendment</u>**"), Sixth Amendment to Lease dated as of February 14, 2014 (the "**<u>Sixth Amendment</u>**"), Seventh Amendment to Lease dated as of December 22, 2014 (the "**<u>Seventh Amendment</u>**"), Eighth Amendment to Lease dated as of March 23, 2015 (the "**<u>Eighth Amendment</u>**"), Ninth Amendment to Lease dated as of June 30, 2015 (the "**<u>Ninth Amendment</u>**"), Tenth Amendment to Lease dated as of October 12, 2015 (the "**<u>Tenth</u> <u>Amendment</u>**"), Eleventh Amendment to Lease dated as of November 29, 2016 (the "**<u>Eleventh</u> <u>Amendment</u>**"), Twelfth Amendment to Lease dated as of January 5, 2018 (the "**<u>Twelfth Amendment</u>**"), Thirteenth Amendment to Lease dated as of October 31, 2018 (the "**<u>Thirteenth Amendment</u>**"), Fourteenth Amendment to Lease dated as of April 26, 2019 (the "**<u>Fourteenth Amendment</u>**"), Fifteenth Amendment to Lease dated as of October 21, 2021 (the "**<u>Fifteenth Amendment</u>**"), and Sixteenth Amendment to Lease dated as of March 7, 2024 (the "**<u>Sixteenth Amendment</u>**") (as amended, the

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"**Master Lease**"), a copy of which is attached hereto and incorporated herein as **EXHIBIT B**, which Subtenant agrees and acknowledges it has reviewed and understood; (iii) this Sublease shall be subject and subordinate to all provisions of the Master Lease, and all amendments or modifications to the Master Lease or supplemental agreements relating thereto hereafter made between Master Landlord and Sublandlord which do not in any material respect contravene any express rights granted to Subtenant hereunder, and Subtenant shall assume and perform the obligations of Sublandlord as "Tenant" under the Master Lease, all to the extent such provisions apply to the Premises during the Term, or are not expressly superseded by this Sublease; (iv) Sublandlord is hereby entitled to all the rights, privileges, and benefits of the "Landlord" under the Master Lease and may enforce the terms and conditions of the Master Lease against the Subtenant as if the Subtenant were the "Tenant" thereunder (except that, the term "Landlord" as used in the Master Lease shall not be construed to mean "Sublandlord" as defined herein with respect to (A) any right to prescribe rules and regulations with respect to Subtenant's use of the Building or Premises, (B) any right to determine charges or fees for services provided except as expressly set forth herein, (C) any right to modify the Building or to make installations within the Premises in connection with, or reserve areas within the Premises for, base-Building systems, or (D) Master Landlord's required contractors (e.g., janitorial)); and (v) except as otherwise set forth herein, all provisions of the Master Lease are incorporated herein as the provisions of this Sublease to the extent such provisions apply (with reference therein to Landlord and Tenant to be deemed to refer to Sublandlord and Subtenant, respectively) and, along with all provisions of this Sublease, shall be the complete Sublease, provided, that nothing herein shall be construed as permitting Subtenant hereunder to exercise any extension or renewal rights or to exercise any right of first offer and/or refusal to expand the leased premises under the Master Lease to which Sublandlord may be entitled under the Master Lease, in no event shall Subtenant be entitled to any abated rent or any construction, design, or tenant improvement allowances except as expressly provided herein, and in no event shall Sublandlord be obligated to extend the term of the Master Lease for any reason. In the event of any conflict or inconsistency between the terms and provisions of the Master Lease and the terms and provisions of this Sublease, the terms and provisions of this Sublease shall govern and control as between Sublandlord and Subtenant. Furthermore, any and all approval or consent rights conferred upon Sublandlord, to the extent required under the Master Lease, shall be conditioned upon such corresponding approval or consent by Master Landlord, and Sublandlord's failure to obtain such Master Landlord's consent or approval shall not be deemed a default by Sublandlord under this Sublease. Sublandlord shall not be deemed to have unreasonably withheld or delayed its consent to any matter if the Master Landlord's consent to the matter requested as required by the Master Lease shall have withheld or delayed its consent to such matter, and Sublandlord shall have no liability of any kind to Subtenant for Master Landlord's failure to give its consent or approval. Subtenant shall reimburse Sublandlord, not later than thirty (30) days after written demand by Sublandlord, for any fees and disbursements of attorneys, architects, engineers, or others charges by Master Landlord in connection with any such consent or approval request submitted to Master Landlord on behalf or at the request of Subtenant. In no event shall the term of this Sublease extend beyond the date that is the termination or expiration date of the Master Lease. Subtenant shall neither do nor permit anything to be done which would constitute a default or breach under the Master Lease or which would cause the Master Lease to be terminated or forfeited by reason of any right of termination or forfeiture reserved or vested in Master Landlord, and Subtenant agrees to comply with all terms, conditions, and covenants of the Master Lease. Sublandlord shall have no liability to Subtenant if this Sublease is terminated for any reason other than Sublandlord's default as the tenant thereunder (and to the extent not caused by Subtenant); provided, however, Sublandlord shall not voluntarily terminate the Master Lease except to the extent arising from any casualty or condemnation event permitted under the Master Lease. Notwithstanding the foregoing, Sublandlord and Subtenant acknowledge and agree that Master Landlord's termination of the Master Lease pursuant to Section 7 of the Sixteenth Amendment shall not be deemed Sublandlord's voluntary termination of the Master Lease. Subtenant agrees to notify Sublandlord of any default by Master

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Landlord under the Master Lease of which Subtenant becomes aware. Sublandlord agrees to notify Subtenant of any default by Master Landlord under the Master Lease of which Sublandlord becomes aware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;**Condition**. Sublandlord shall deliver the Premises to Subtenant broom clean and in its presently existing "**AS IS**," "**WHERE IS**" condition. Except as may otherwise be expressly contained in this Sublease, Sublandlord has not made and does not make any representations or warranties as to the physical condition of the Premises, the use to which the Premises may be put, or any other matter or thing affecting or relating to the Premises and Sublandlord shall have no obligation whatsoever to alter, improve, decorate or otherwise prepare the Premises for Subtenant's occupancy. To the best of Sublandlord's knowledge, with no duty of inquiry or investigation, Sublandlord is not aware of any Hazardous Materials (as defined below) existing on the Premises in violation of Environmental Laws (as defined below).

Except as set forth above, Subtenant shall accept the Premises in its "**AS IS**," "**WHERE IS**" condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;**License to Use 9**<sup>th</sup> **Floor Deck; Common Area Amenities; Failure to Comply**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**License to Use 9**<sup>th</sup> **Floor Deck**. Sublandlord represents and warrants to Subtenant that as of the Effective Date, Sublandlord, as tenant under the Master Lease, has a license to use the 9<sup>th</sup> Floor Deck (as defined in the Master Lease) during the Term. Subject to Section 2.3(c) below, Subtenant shall have a non-exclusive revocable license to use the 9<sup>th</sup> Floor Deck during such periods of the Term Sublandlord has the right to use the 9<sup>th</sup> Floor Deck under the Master Lease, without fee or charge, so long as such use is in compliance with applicable rules and regulations applicable thereto; provided, however, in the event Sublandlord no longer has the right to use the 9<sup>th</sup> Floor Deck under the Master Lease, except in the event of a Revocation Trigger Event (hereinafter defined), Sublandlord shall have no liability to Subtenant for the revocation of the license set forth in this Section 2.3(a). Subtenant shall not be obligated to pay Rent on account of its use of the 9<sup>th</sup> Floor Deck, but all other terms of this Sublease shall apply to the 9th Floor Deck, including, without limitation, with respect to insurance and indemnity matters. Notwithstanding the foregoing or anything to the contrary set forth herein, Sublandlord shall continue to repair and maintain, at Sublandlord's sole cost and expense, the 9<sup>th</sup> Floor Deck in accordance with Paragraph 63 of the Original Lease during the Term. Subtenant, at its sole cost and expense, shall comply with all relevant laws applicable to its use of the 9<sup>th</sup> Floor Deck, and obtain all necessary permits or licenses for the same, if applicable. Except as otherwise expressly provided in Section 2.3(b) below, Subtenant shall have no right to access or use the Common Area Amenities (as defined below). Notwithstanding the foregoing, in the event Sublandlord subleases the 9<sup>th</sup> or 10<sup>th</sup> Floor of the Property to another subtenant (a "**Revocation Trigger Event**"), Sublandlord shall have the right to revoke Subtenant's right to utilize the 9<sup>th</sup> Floor Deck set forth in this Section 2.3(a), following delivery of at least sixty (60) days' prior written notice thereof (the "**Revocation Notice**") to Subtenant. In the event Sublandlord delivers a Revocation Notice electing to revoke Subtenant's right to utilize the 9<sup>th</sup> Floor Deck, Subtenant shall receive three (3) months of additional Base Rent abatement for the immediately succeeding three (3) full calendar months after receipt of such Revocation Notice if at least three (3) full calendar months remain in the Term, or abatement of the remaining Base Rent due hereunder during the remainder of the Term if less than three (3) full calendar months remain in the Term. For the avoidance of doubt, in the event Subtenant's license to use the 9<sup>th</sup> Floor Deck is revoked by Sublandlord due to Sublandlord no longer having the right to use the 9<sup>th</sup> Floor Deck under the Master Lease, Subtenant shall not be entitled to the Base Rent abatement immediately set forth above. In the event Sublandlord no longer has the right to use the 9<sup>th</sup> Floor Deck under the Master Lease, Sublandlord shall reasonably

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cooperate with any of Subtenant's negotiations with Master Landlord with respect to the 9<sup>th</sup> Floor Deck and Sublandlord shall use commercially reasonable efforts to facilitate Subtenant's discussions with Master Landlord in connection therewith; provided, however, in no event shall Sublandlord be required to incur any expense or cost related to Sublandlord's cooperation in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Common Area Amenities**. Subtenant shall have the right to reserve for not more than five (5) days per calendar quarter, in the aggregate, the interior amenities located on the 9<sup>th</sup> Floor of the Building adjacent to the 9<sup>th</sup> Floor Deck, including, without limitation, a conference room, a restroom, seating areas (together, the "**<u>Common Area Amenities</u>**") for Subtenant's use, provided that Subtenant provides a minimum of two (2) weeks' advance written notice to Sublandlord and there exists no prior conflict (as documented by written request or scheduled repair) or reservation of the Common Area Amenities as to such proposed date. Subtenant shall not be obligated to pay Rent on account of its use of the Common Area Amenities, but all other terms of this Sublease shall apply to Subtenant's use of the Common Area Amenities, including, without limitation, with respect to insurance and indemnity matters. During the periods of Subtenant's use of the Common Area Amenities, Subtenant shall, at its sole cost and expense: (i) maintain the Common Area Amenities in a manner consistent with the requirements of the Property with a high standard of cleanliness and appearance; (ii) maintain the Common Area Amenities in good condition and repair; (iii) provide janitorial services thereto; (iv) maintain its own corporate security services, if applicable, and (v) keep the Common Area Amenities free of dishes, utensils, food, and debris from Subtenant's employees, customers, guests, or licensees. Notwithstanding the foregoing, in the event Sublandlord subleases the 9<sup>th</sup> or 10<sup>th</sup> Floor of the Property to another subtenant, Sublandlord shall have the right to revoke Subtenant's right to utilize the Common Area Amenities set forth in this Section 2.3(b), following delivery of written notice thereof to Subtenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Failure to Comply**. Subtenant shall use commercially reasonable efforts to minimize disruption to or interference with other tenants, with respect to its use of the 9<sup>th</sup> Floor Deck and Common Area Amenities. Subtenant shall be responsible for any damages or repairs caused by Subtenant's use of the 9<sup>th</sup> Floor Deck and/or the Common Area Amenities, and the cost of such damages or repairs shall be paid by Subtenant to Sublandlord not later than thirty (30) days after written demand therefor by Sublandlord.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;**Delayed Delivery**. Notwithstanding anything to the contrary set forth herein, if for any reason Sublandlord cannot deliver possession of the Premises to Subtenant by the date that is thirty (30) days after the Commencement Date (the "**<u>Outside Delivery Date</u>**") for any reason other than due to an event of force majeure, Sublandlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Sublease or the obligations of Subtenant hereunder; provided, however, in the event delivery of the Premises to Subtenant does not occur on or before the Outside Delivery Date for any reason other than due to an event of force majeure, then Subtenant shall be entitled to rent abatement in the amount of one day of Base Rent for each day of delay beyond the Outside Delivery Date, and if the Premises is not delivered to Subtenant within thirty (30) days after the Outside Delivery Date for any reason other than due to an event of force majeure, then Subtenant, at its option, may terminate this Sublease by written notice to Sublandlord given any time thereafter, but before Sublandlord delivers the Premises to Subtenant. No delay in delivery of possession shall operate to extend the Term of this Sublease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;**Early Access**. Subject to receipt of certificates of insurance and the amount set forth in Section 1.17 above, and notwithstanding anything to the contrary in this Sublease, Subtenant shall be granted early access to the Premises on the date that is the later to occur of (x) the date of full execution and delivery of the Sublease, and (y) the date the Master Landlord has delivered the Consent to the

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Sublease. Such early access shall be subject to all of the terms and conditions of this Sublease, except as to the covenant to pay Rent hereunder, and further agrees that neither Sublandlord nor Master Landlord will be liable in any way for any injury, loss, or damage which may occur to any items of work constructed by Subtenant or to other property of Subtenant that may be placed in the Premises, the same being at Subtenant's sole risk. Subtenant shall be responsible for the cost of any utilities consumed at the Premises during such early occupancy period. Subtenant agrees to provide Sublandlord with prior notice of any such intended early access.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;**Furniture, Fixtures, and Equipment**. Sublandlord and Subtenant agree and acknowledge that: (i) Subtenant shall have the right to use the existing furniture, fixtures, and equipment located in the Premises and identified on **EXHIBIT C** attached hereto (collectively, the "**<u>Remaining</u> <u>FF&E</u>**"); (ii) Subtenant agrees and acknowledges that Sublandlord makes no warranties or representations regarding the Remaining FF&E, and Sublandlord's delivery of the Remaining FF&E shall be in its AS-IS, WHERE-IS condition, without warranties, representations, or guarantees of any kind, including warranties of fitness for any particular purpose, and Sublandlord shall have no liability or obligation with respect to the condition thereof or for any maintenance and repairs required thereto; (iii) Subtenant shall be responsible for maintaining, repairing, and insuring the Remaining FF&E and keeping the same in good condition, reasonable wear and tear excepted; and (iv) Subtenant hereby agrees to indemnify, defend, and hold Sublandlord harmless from and against any claims for liability or damages in any way pertaining to or arising out of the use of the Remaining FF&E by Subtenant or its employees, agents, and assigns. On or before the Commencement Date, Sublandlord shall remove (and repair any damage occasioned by such removal), at Sublandlord's sole cost and expense, any furniture, fixtures, and equipment from the Premises, other than the Remaining FF&E. For the avoidance of doubt, if the Remaining FF&E is destroyed or otherwise in an inoperable condition at the time Sublandlord delivers possession of the Premises to Subtenant, Sublandlord shall have no obligation to furnish, repair, pay for, or remove the Remaining FF&E. The Remaining FF&E shall at all times remain the property of Sublandlord, provided that Subtenant shall have the right to its use and operation during the Term. All such replacements of the Remaining FF&E provided by Sublandlord shall immediately become the property of Sublandlord, and the Remaining FF&E shall at all times remain on the Premises, except if being replaced with items of equal quality and value. Upon the Expiration Date or the earlier termination of this Sublease, provided that no Event of Default by Subtenant has occurred prior thereto and is continuing and subject to Sublandlord's right to reclaim any Remaining FF&E as set forth below, Subtenant shall purchase the Remaining FF&E, other than those affixed to the Premises via a bill of sale for One Dollar and No Cents ($1.00); such bill of sale shall transfer such Remaining FF&E in its then as-is condition, without any warranties, representations, or guarantees of any kind as to the condition, title, use, or merchantability thereof. On or before expiration of the Term, Subtenant shall remove and dispose of the Remaining FF&E, at Subtenant's sole cost and expense, and any such disposal shall be in compliance with all applicable laws, including, without limitation, Environmental Laws. Subtenant shall repair all damage to the Premises and Building caused by such removal, all at Subtenant's sole cost and expense. The removal and repair obligation of Subtenant as set forth in this Section 2.6 shall survive the expiration or earlier termination of this Sublease. Notwithstanding the foregoing, at any time prior to the Expiration Date or the earlier termination of this Sublease, Sublandlord shall have the right to require Subtenant to leave any of the Remaining FF&E at the Premises, in which event, such Remaining FF&E shall not be included in the Remaining FF&E to be transferred to Subtenant upon the Expiration Date or earlier termination of this Sublease.

Notwithstanding the foregoing, if during the term of the Sublease, Subtenant desires to remove or dispose of any of the Remaining FF&E, Subtenant shall first obtain Sublandlord's prior written consent, not to be unreasonably withheld, conditioned, or delayed. Subtenant shall give Sublandlord not less than

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twenty (20) days' prior notice (the "**<u>Removal Notice</u>**") of the date ("**<u>Removal Date</u>**") Subtenant desires to remove or dispose of any articles of the Remaining FF&E, which Removal Notice shall contain a description of the items of FF&E that Subtenant desires to remove ("**<u>Removal FF&E</u>**") and any arrangements Subtenant has made for the disposal, including the name of its contractor which shall perform such removal. If Sublandlord consents to such removal, if Subtenant so elects to remove the Removal FF&E, Subtenant agrees at its sole cost and expense to comply with any reasonable requirements imposed by Sublandlord for the disposal of the Removal FF&E and any such disposal shall be in compliance with all applicable laws, including, without limitation, Environmental Laws. Notwithstanding the above, Sublandlord shall have the right (but not the obligation) to retain the Removal FF&E, in which event, Sublandlord and Subtenant shall coordinate with each other to arrange for the Removal FF&E to be relocated from the Premises, at Sublandlord's sole cost and expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7&nbsp;&nbsp;&nbsp;&nbsp;**Area Measurement**. "**<u>Rentable Area</u>**" means rentable area measured in accordance with the BOMA Standard for Measuring Floor Area in Office Buildings (BOMA Z65.1-1996) with a load factor not to exceed twelve percent (12%) for full floor increments. Subtenant has been afforded the opportunity to verify the measurement of the Premises and Sublandlord and Subtenant hereby agree that the measurement of the Premises described in Section 1.2 shall be binding upon Sublandlord and Subtenant through the Term of the Sublease and any renewals thereof, and shall not be changed or modified.

**3.&nbsp;&nbsp;&nbsp;&nbsp;*USE OF PREMISES***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;**Permitted Uses**. Subtenant may use and occupy the Premises twenty-four (24) hours a day, seven (7) days a week, for the purposes set forth in Section 1.10, and under the conditions set forth therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;**Compliance with Laws and Insurance Restrictions**. Subtenant shall not do or permit to be done in or about the Premises nor bring or keep or permit to be brought or kept therein, anything which is prohibited by or will in any way conflict with any law, statute, ordinance, or governmental rule or regulation now in force or which may hereafter be enacted or promulgated, or which is prohibited by a standard form of property insurance, or will in any way increase the existing rate of or affect any property, liability, or other insurance upon the Building or any of its contents or cause a cancellation of any insurance policy covering the Building or any part thereof or any of its contents. At its sole cost, Subtenant shall promptly comply with all laws, statutes, ordinances, and governmental rules, regulations or requirements now in force, or which may hereafter be in force, including, without limitation, all requirements of any laws pertaining to the environment or hazardous materials and all requirements of the Americans with Disabilities Act of 1990 and/or any other laws or regulations relating to the accessibility or usability of the Premises by disabled persons, or any regulations or accessibility guidelines issued thereunder or in connection therewith, pertaining to Subtenant's use of the Premises or, to the extent such requirements result from Subtenant's use or alteration of the Premises, pertaining to any portion of the Building, and/or with the requirements of any board of fire underwriters or other similar body now or hereafter constituted, relating to or affecting the condition, use or occupancy of the Premises, excluding structural changes not related to or affected by Subtenant's use, alteration or improvement of the Premises; provided, however, that notwithstanding the foregoing or anything to the contrary set forth herein, in no event shall Subtenant be obligated to make any structural changes to the Premises or other portions of the Building unless such changes are related to or affected by (i) Subtenant's alterations, or (ii) Subtenant's particular use of the Premises (as opposed to Subtenant's use of the Premises for general office purposes in a normal and customary manner).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4&nbsp;&nbsp;&nbsp;&nbsp;**Compliance with Environmental Laws**. Subtenant shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;comply with all federal, state and local laws, rules, orders, or regulations pertaining to health or the environment ("**<u>Environmental Laws</u>**"), including, without limitation, the comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended ("**<u>CERCLA</u>**") and the Resource Conservation and Recovery Act of 1987, as amended ("**<u>RCRA</u>**") in connection with Subtenant's use of the Premises during the Term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;not cause or permit any "Hazardous Materials" (as defined herein) to be used, stored, generated, disposed of or released from, on or in the Premises or Building by Subtenant or Subtenant's agents, employees, contractors or invitees, except for the use of general office supplies within the Premises of a kind typically used in normal office areas in the ordinary course of business (such as copier toner, correction fluid, glue, ink and cleaning solvents), in the manner for which they were designed and only in accordance with all applicable governmental regulations, and then only in such amounts as may be normal for the office operations conducted by Subtenant on the Premises. Subtenant will notify Sublandlord and provide copies upon receipt of all complaints, claims, citations, demand, inquiries, reports or notices relating to the compliance of the Premises with laws governing Hazardous Materials. As used herein, "**<u>Hazardous Materials</u>**" means any substance that is toxic, ignitable, reactive or corrosive and/or that is regulated by any local government, the State of California, or the United States government. "Hazardous Materials" include any and all materials or substances that are defined as "hazardous waste", "extremely hazardous waste" or a "hazardous substance" pursuant to state, federal or local law. "Hazardous Materials" include, but are not limited to, asbestos, oil, petroleum products and by-products and other hydrocarbons, and polychlorinated biphenyls ("**<u>PCB's</u>**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;not keep, store, or use within the Premises any Hazardous Materials or regulated substances except quantities that are reasonably necessary for Subtenant's business and in compliance with Environmental Laws; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;shall indemnify, defend, protect and hold Sublandlord harmless from and against any and all claims, damages, fines, judgments, penalties, costs, liabilities or losses (including, without limitation, any and all sums paid for settlement of claims, remediation and/or encapsulation of any Hazardous Materials, and fees and costs of attorneys, consultants and experts) arising as a result of a breach by Subtenant of its covenants, representations and warranties made in this Section 3.4. This indemnification includes, without limitation, any and all costs incurred because of any investigation of the Premises or Building or any cleanup, removal, restoration or other remediation of any Hazardous Materials to the satisfaction of the appropriate governmental authorities and to the reasonable satisfaction of Sublandlord. This indemnity shall survive the expiration or earlier termination of this Sublease.

Notwithstanding the foregoing or anything to the contrary set forth herein, in no event shall Subtenant have any liability for any Hazardous Materials existing in the Premises or Building as of the Commencement Date or which were not brought into the Premises by Subtenant or Subtenant's agents, employees, contractors or invitees.

**4.&nbsp;&nbsp;&nbsp;&nbsp;*CERTIFIED ACCESS SPECIALIST***

To Sublandlord's actual knowledge, the Premises have not undergone inspection by a Certified Access Specialist (as such term is defined in Section 1938 of the California Civil Code), and except to the extent expressly set forth in this Sublease, Sublandlord shall have no liability or responsibility to make any repairs or modifications to the Premises or the Building in order to comply with accessibility standards. Sublandlord's obligations under this Article 4 shall not affect Sublandlord's right to recover from Subtenant the costs for any damage or repair to the Building for which Subtenant is liable hereunder. The following disclosure is hereby made pursuant to applicable California law:

"A Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises, the commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility standards within the premises."

Any CASp inspection which Subtenant desires to have performed shall be conducted in accordance with the following: (i) any CASp inspection requested by Subtenant shall be conducted, at Subtenant's sole cost and expense, by a CASp designated by Master Landlord; and (ii) Subtenant, at its sole cost and expense, will be responsible for making repairs within the Premises and/or the Building to correct violations of constructed-related accessibility standards that are identified as a result of the CASp inspection obtained at Subtenant's request, unless such obligations are the responsibility of Master Landlord under the Master Lease.

**5.&nbsp;&nbsp;&nbsp;&nbsp;*SECURITY DEPOSIT; LETTER OF CREDIT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;**Security Deposit**. The Security Deposit shall not bear interest, shall not be required to be maintained in a separate account, and shall be returned, less any unpaid claims against Subtenant, upon the expiration of this Sublease and the surrender of possession of the Premises, to Subtenant or to the last

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assignee of Subtenant's interest. The Security Deposit is not, and may not be construed by Subtenant to constitute, rent for the last month or any portion thereof. If Subtenant defaults with respect to any of its obligations under this Sublease and such default continues beyond expiration of all applicable notice and cure periods, Sublandlord may (but shall not be required to) use, apply or retain all or any part of the Security Deposit for the payment of any rent or any other sum in default, or for the payment of any other amount, loss or damage which Sublandlord may spend, incur or suffer by reason of Subtenant's default. If any portion of the Security Deposit is so used or applied, Subtenant shall, within ten (10) business days after demand therefor, deposit cash with Sublandlord in an amount sufficient to restore the Security Deposit to its original amount. If Subtenant is not in default, beyond all applicable notice and cure periods, the Security Deposit or any balance thereof shall be returned to Subtenant within thirty (30) days following the expiration of the Term. The Security Deposit shown in Section 1.9 shall be delivered to Sublandlord not later than 5:00p.m. PST on the business day after the Effective Date and shall be delivered via wire transfer instructions to be provided by Sublandlord. In the event this Sublease is terminated because the Consent is not timely obtained pursuant to Section 24, Sublandlord shall return the Security Deposit to Subtenant within ten (10) business days of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;**Letter of Credit**. Without limiting the foregoing, Subtenant shall have the right, but not the obligation, to replace the Security Deposit during the Term by delivering the Letter of Credit (as defined below) to Sublandlord. If Subtenant so elects to deliver a Letter of Credit, then Sublandlord shall return the cash Security Deposit to Subtenant within ten (10) business days after receipt of such Letter of Credit. As used herein, "**<u>Letter of Credit</u>**" shall mean an unconditional, irrevocable sight draft letter of credit issued, presentable (which may include presentation by overnight delivery) and payable at the office of a major national bank satisfactory to Sublandlord in its reasonable discretion (the "**<u>Bank</u>**"), naming Sublandlord as beneficiary, in an amount equal to the amount set forth in Section 1.9 above. Sublandlord hereby approves Wells Fargo as an acceptable issuing Bank with respect to the Letter of Credit. The Letter of Credit shall provide: (i) that Sublandlord may make partial and multiple draws thereunder, up to the face amount thereof, and that Sublandlord may draw upon the Letter of Credit up to the full amount thereof, as determined by Sublandlord, and the Bank will pay to Sublandlord the amount of such draw upon receipt by the Bank of a sight draft signed by Sublandlord without requirement for any additional documents or statements by Sublandlord; and (ii) that, in the event of assignment or other transfer of either Sublandlord's interest in this Sublease or of any interest in Sublandlord (including, without limitation, consolidations, mergers, reorganizations or other entity changes), the Letter of Credit shall be freely transferable by Sublandlord, without recourse, to the assignee or transferee of such interest and the Bank shall confirm the same to Sublandlord and such assignee or transferee. The Letter of Credit shall be in a form reasonably acceptable to Sublandlord. Sublandlord may (but shall not be required to) draw upon the Letter of Credit and use the proceeds therefrom (the "**<u>Letter of Credit Proceeds</u>**") or any portion thereof in any manner Sublandlord is permitted to use the Security Deposit under Section 5.1. In the event Sublandlord draws upon the Letter of Credit and elects not to terminate the Sublease (to the extent Sublandlord has such a termination right hereunder), but to use the Letter of Credit Proceeds, then within ten (10) business days after Sublandlord gives Subtenant written notice specifying the amount of the Letter of Credit Proceeds so utilized by Sublandlord, Subtenant shall immediately deliver to Sublandlord an amendment to the Letter of Credit, a replacement Letter of Credit, or cash such that Sublandlord then holds a Letter of Credit or cash in an amount equal to one hundred percent (100%) of the amount set forth in Section 1.9 above. Subtenant's failure to deliver such cash, amendment or replacement of the Letter of Credit to Sublandlord within ten (10) business days after Sublandlord's notice shall constitute an Event of Default by Subtenant under this Sublease. The Letter of Credit shall have an initial term of no longer than one (1) year, shall be "evergreen," and shall be extended, reissued or replaced by Subtenant, in each case at least thirty (30) days prior to its expiration in a manner that fully complies with the requirements of this Section 5.2, so that in all events the Letter of Credit required

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hereunder shall be in full force and effect continuously until the date (the "**<u>L/C Expiration Date</u>**") for return of the Security Deposit described in Section 5.1 above.

**6.&nbsp;&nbsp;&nbsp;&nbsp;*RENT***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;**Base Rent**. Subtenant shall pay to Sublandlord, in advance, on the first day of each calendar month, beginning on the Commencement Date, Base Rent in the amount set forth in Section 1.6, subject to adjustment under Section 6.2. In the event that the Term commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, the monthly rent for the first and/or last fractional months of the Term shall be appropriately prorated, and the rent for any fractional month shall be paid on the first day of such month that is part of the Term. Rent shall be paid to Sublandlord in lawful money of the United States of America, without deduction or offset of any kind, at Sublandlord's address for notices specified in the Section 1.13 of the Sublease, or to such other person or to such other address as Sublandlord may designate in writing from time to time. In the event this Sublease is terminated because the Consent is not timely obtained pursuant to Section 24, Sublandlord shall refund any prepayment of Base Rent within ten (10) business days of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;**Late Charges and Interest**. If Subtenant fails to pay when due any installment of Base Rent, or if Subtenant fails to pay any written billing statement of any other amount payable under this Sublease within five (5) business days after the date such amount is due, Subtenant shall pay to Sublandlord, as liquidated damages to compensate Sublandlord for costs and inconveniences of special handling and disruption of cash flow, a late charge in the amount of five percent (5%) of the amount past due. The assessment or collection of a late charge shall not constitute the waiver of a default and shall not bar the exercise of other remedies for nonpayment. In addition to the late charge, all amounts not paid within five (5) business days after such amounts are due shall bear interest from the date due (i) until the happening of an Event of Default, at the rate of twelve percent (12%) per annum but in no event in excess of the amount allowed under applicable law. Notwithstanding the foregoing or anything to the contrary contained herein, the late charge and any interest which may be assessed thereon shall be waived by Sublandlord for the first late payment during the Term; provided that such payment is made within five (5) business days after Subtenant's receipt of Sublandlord's written notice that such payment is past due.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;**Obligations Are Rent**. Except as otherwise provided in this Sublease, all amounts payable by Subtenant to Sublandlord under this Sublease, including, without limitation Base Rent, and any other costs, expenses, or fees payable by Subtenant to Sublandlord under this Sublease shall constitute rent (collectively "**<u>Rent</u>**") and shall be payable without notice, demand, deduction or offset to such person and at such place as Sublandlord may from time to time designate by written notice to Subtenant.

**7.&nbsp;&nbsp;&nbsp;&nbsp;*SUBTENANT'S SECURITY SYSTEM; TELECOMMUNICATIONS***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;**Subtenant's Security System**. Sublandlord hereby grants Subtenant the right, at Subtenant's cost and expense, to install a security system in the Premises ("**<u>Subtenant's Security</u> <u>System</u>**") which serves the Premises only; provided, however, if Subtenant's Security System ties into Sublandlord's or Master Landlord's existing security systems at the Building, Subtenant shall coordinate the installation and operation of Subtenant's Security System with Sublandlord to ensure that Subtenant's Security System is compatible with Sublandlord's or Master Landlord's existing security systems and equipment of the Building. Subtenant may install any security system selected by Subtenant provided that Subtenant's Security System (a) does not create an adverse effect on the structural integrity of the Building, (b) is in compliance with applicable law, (c) does not create an adverse effect on the Building's

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systems and equipment, (d) does not unreasonably interfere with the normal and customary office operations of any other tenant of the Building or adversely affect Master Landlord's ability to operate the Building including the security system of the Building, and (e) is in compliance with the requirements of the Master Lease. If any of the conditions set forth in (a) through (e) above are not satisfied, then Subtenant shall not be permitted to install or operate such selected security system as Subtenant's Security System. Subtenant shall be solely responsible, at Subtenant's sole cost and expense, for installation, monitoring, repair, maintenance, and operation of Subtenant's Security System. Without limiting the foregoing, to the extent costs related to Subtenant's Security System cannot be segregated from Sublandlord's existing systems or equipment, Sublandlord shall deliver to Subtenant an invoice for such portion of Subtenant's share of such costs (as reasonably determined by Sublandlord), which invoice shall be paid by Subtenant within thirty (30) days after receipt thereof. Subtenant shall provide Sublandlord with any information reasonably required regarding Subtenant's Security System so that Sublandlord may have access to the Premises in the event of an emergency. Subtenant shall, at Subtenant's sole cost and expense, remove Subtenant's Security System upon the expiration or earlier termination of this Sublease and repair any damage resulting from such removal. The removal and repair obligation of Subtenant as set forth herein shall survive the expiration or earlier termination of this Sublease for a period of eighteen (18) months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;**Telecommunications**. All data and telephone cabling and wiring Subtenant may desire or require, including, without limitation, all low voltage cabling and wiring (collectively, "**<u>Telecommunications Wiring</u>**"), shall be installed in the Premises by Subtenant at Subtenant's sole cost and expense. In connection with Subtenant's acceptance of the Premises in its as-is condition, Sublandlord shall have no obligation to remove the Telecommunications Wiring of any prior occupant of the Premises. If Subtenant desires to contract with or obtain services from any provider which does not currently serve the Premises or desires to obtain from an existing carrier service which will require the installation of additional equipment, such provider must, prior to providing service, enter into a written agreement with Sublandlord setting forth the terms and conditions of the access to be granted to such provider. Pursuant to such written agreement, such provider shall be permitted to install, subject to Sublandlord's prior written approval (which shall not be unreasonably withheld, conditioned or delayed), data and telephone wiring for the Premises. In considering the installation of any new or additional telecommunications cabling or equipment at the Premises, Sublandlord will consider all relevant factors in a reasonable and non-discriminatory manner. In no event shall Sublandlord be obligated to incur any costs or liabilities in connection with the installation or delivery of telecommunication services or facilities at the Premises. All such installations shall be subject to Sublandlord's prior approval and shall be performed in accordance with the terms of this Section 7.2 and the relevant provisions of the Master Lease. To the extent costs related to Subtenant's Telecommunications Wiring cannot be segregated from Sublandlord's existing systems or equipment, Sublandlord shall deliver to Subtenant an invoice for such portion of Subtenant's share of such costs (as reasonably determined by Sublandlord), which invoice shall be paid by Subtenant within thirty (30) days after receipt thereof. Subtenant shall, at Subtenant's sole cost and expense, remove Subtenant's Telecommunications Wiring and any pre-existing Telecommunications Wiring upon the expiration or earlier termination of this Sublease and repair any damage resulting from such removal. The removal and repair obligation of Subtenant as set forth herein shall survive the expiration or earlier termination of this Sublease.

**8.&nbsp;&nbsp;&nbsp;&nbsp;*TAXES***

Subtenant shall reimburse Sublandlord promptly upon demand for any and all taxes payable by Sublandlord (other than generally applicable net income taxes) (i) upon, allocable to, or measured by the Rent payable hereunder, including, without limitation, any gross income tax or excise tax levied by the

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State of California, any political subdivision thereof, or the federal government with respect to the receipt of such Rent; (ii) upon, or with respect to, the possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Subtenant of the Premises or any part thereof; (iii) upon, or measured by, the value of Subtenant's personal property or leasehold improvements located on the Premises; or (iv) intentionally deleted.

**9.&nbsp;&nbsp;&nbsp;&nbsp;*INSURANCE AND INDEMNITY***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;**Indemnification**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Subtenant's Indemnification**. Subtenant shall indemnify, defend, protect and hold harmless Sublandlord, its partners, and their respective officers, directors, shareholders, agents, property managers, and independent contractors (collectively, the "**<u>Sublandlord Parties</u>**") from and against any and all loss, cost, damage, expense, cause of action, claims and liability, including, without limitation, court costs and reasonable attorneys' fees (collectively "**<u>Claims</u>**") incurred in connection with or arising from any cause in, on or about the Premises, and/or any act, omission, negligence or willful misconduct of Subtenant or of the contractors, agents, employees, licensees or invitees of Subtenant or any such person in, on or about the Building, and/or resulting from or arising in connection with Subtenant's breach or default of any of the terms or conditions of this Sublease or the Master Lease, provided that the terms of the foregoing indemnity shall not apply to any Claims to the extent resulting from the gross negligence or willful misconduct of Sublandlord, Master Landlord or the Sublandlord Parties. Subtenant's agreement to indemnify Sublandlord pursuant to this Section 9.1(a) is not intended and shall not relieve any insurance carrier of its obligations under policies required to be carried by Subtenant pursuant to the provision of this Sublease. To the extent not resulting from the gross negligence or willful misconduct of Subtenant, Sublandlord shall indemnify Subtenant from and against any and all Claims arising from or out of (i) any negligent acts or omissions, or willful misconduct of Sublandlord in, on, or about the Premises prior to the term of this Sublease, and (ii) Sublandlord's breach or default of this Sublease or the Master Lease (to the extent such breach/default is not caused by Subtenant). The obligations under this Section 9.1(a) shall survive the expiration or sooner termination of this Sublease with respect to any Claims occurring prior to such expiration or termination. In case any action or proceeding is brought against Sublandlord to which this indemnification shall be applicable, Subtenant shall pay all Claims resulting therefrom and shall defend such action or proceeding, if Sublandlord shall so request, at Subtenant's sole cost and expense, by counsel reasonably satisfactory to Sublandlord.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;**Subtenant's Compliance with Sublandlord's Fire and Casualty Insurance**. Subtenant shall, at Subtenant's expense, comply with all insurance company requirements pertaining to the use of the Premises. If Subtenant's conduct or use of the Premises causes any increase in the premium for any insurance policies carried by Sublandlord or Master Landlord, then Subtenant shall reimburse Sublandlord or Master Landlord for any such increase directly and reasonably evidenced to be related to Subtenant's use of the Premises within thirty (30) days of receipt of an invoice therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Subtenant's Insurance**. During the Term, Subtenant, at its sole cost and expense, shall obtain and maintain commercial general liability insurance and property insurance with a broad form contractual liability endorsement and all other insurance required to be carried by Sublandlord in conformity with the provisions of the Master Lease applicable to the Premises set forth in Paragraphs 15(a) and 15(b) of the Original Lease. Subtenant shall cause Sublandlord, Master Landlord, any other party which Master Landlord or Sublandlord may reasonably require to be included as additional insureds in said commercial general liability policy or policies which shall contain provisions, if and to the extent commercially available, that it or they will not be cancelable except upon not less than thirty (30) days'

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prior written notice to all insureds and that the act or omission of one insured will not invalidate the policy as to the other insureds (if same is not commercially available, then Subtenant will agree to provide such notice). Subtenant's insurance policies shall be issued by reputable insurers that are (x) eligible to do business in the State of California, and (y) rated in Best's Insurance Guide, or any successor thereto, as having a general policyholder rating of A- and a financial rating of at least VII (it being understood that if such ratings are no longer issued, then such insurer's financial integrity shall conform to the standards that constitute such ratings from Best's Insurance Guide as of the date hereof) or with reputable insurers who have an S&P rating (or equivalent) of A- or greater. Subtenant shall furnish to Sublandlord a certificate or certificates of insurance or other satisfactory evidence confirming that Subtenant's Insurance is in effect at or before the date that Subtenant or anyone acting on Subtenant's behalf enters the Premises for any purpose and, on request, at reasonable intervals thereafter, but in no event less than once annually and prior to the expiration of each and every policy of insurance required to be carried under this Sublease.

In the event Subtenant does not purchase the insurance required by this Sublease or keep the same in full force and effect, Sublandlord may, but shall not be obligated to purchase the necessary insurance and pay the premium. Subtenant shall repay to Sublandlord, as Rent, the amount so paid within thirty (30) days after demand. In addition, Sublandlord may recover from Subtenant and Subtenant agrees to pay, as Rent, any and all reasonable expenses (including attorneys' fees) and damages which Sublandlord may sustain by reason of the failure of Subtenant to obtain and maintain such insurance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3&nbsp;&nbsp;&nbsp;&nbsp;**Waiver of Subrogation**. Sublandlord and Subtenant expressly waive any and all claims against each other with respect to claims, damages, or losses for which property insurance is carried or is required to be carried hereunder, even if the party causing the damage was negligent. The parties agree that all property insurance carried by each of them shall be in the amount of full replacement cost and contain a waiver of the insurer's rights of subrogation with respect to claims paid under any such policy. For this purpose, applicable deductible amounts shall be treated as though they were recoverable under such policies.

**10.&nbsp;&nbsp;&nbsp;&nbsp;*DESTRUCTION BY FIRE OR OTHER CASUALTY; CONDEMNATION***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1&nbsp;&nbsp;&nbsp;&nbsp;If the Premises or Building are partially or totally damaged or destroyed by fire or other casualty, Subtenant shall have the same right to terminate this Sublease as Sublandlord has under Paragraph 26 of the Original Lease with respect to the Master Lease. Any termination provided for in this paragraph shall be effective on a date specified in such notice, which date shall be not less than three (3) or more than thirty (30) days after such notice is given. Sublandlord shall have no obligation to Subtenant to rebuild the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2&nbsp;&nbsp;&nbsp;&nbsp;If the Premises are partially or totally damaged by fire or other casualty, Subtenant shall receive an abatement of Rent for such casualty only to the extent that Sublandlord receives a corresponding abatement pursuant to the terms of the Master Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3&nbsp;&nbsp;&nbsp;&nbsp;If the Master Lease is terminated as the result of a taking of all or any portion of the Master Lease premises by condemnation (or deed in lieu thereof), this Sublease shall likewise terminate. In such event, Subtenant shall have no claim to any share of the award, except to file a claim for the value of its fixtures or for moving expenses. Sublandlord and Subtenant shall pay the expenses of the litigation or settlement in proportion to their shares of the award or payment. Sublandlord shall have no obligation to Subtenant to rebuild the Premises if only a portion of the Premises is taken and the Master Lease is not terminated.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4&nbsp;&nbsp;&nbsp;&nbsp;Subtenant shall not be entitled to an abatement of Rent, by reason of a casualty or condemnation affecting the Premises unless Sublandlord receives an abatement with respect to its corresponding obligation under the Master Lease.

**11.&nbsp;&nbsp;&nbsp;&nbsp;*PARKING***

Subtenant acknowledges that Subtenant shall not be entitled to the use of any parking spaces within the Parking Facility pursuant to this Sublease, and that the Parking Facility is operated and managed by a third party operator, Parking Concepts Inc. (the "**<u>Parking Operator</u>**"). If Subtenant elects to use any parking spaces within the Parking Facility, Subtenant will be solely responsible for directly contracting with the Parking Operator for the use of any available parking spaces, and paying any such parking charges directly to the Parking Operator. Subtenant further acknowledges that Sublandlord has made no representation or warranty regarding the availability or use of any parking spaces within the Parking Facility.

**12.&nbsp;&nbsp;&nbsp;&nbsp;*MAINTENANCE AND OFFICE SERVICES***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1&nbsp;&nbsp;&nbsp;&nbsp;**Maintenance by Subtenant**. Except as otherwise set forth herein, Subtenant shall maintain the interior of the Premises and the improvements therein in good condition and repair in accordance with the terms of the Master Lease and to fulfill Sublandlord's maintenance obligations as the "Tenant" under the Master Lease with regard to the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2&nbsp;&nbsp;&nbsp;&nbsp;**Services**. Except as otherwise set forth herein, Subtenant agrees that Sublandlord shall have no obligation to render or supply any services to Subtenant, including, without limitation (a) the furnishing of electrical energy, unless such electrical energy is not separately metered for the Premises; heat; ventilation; water; air conditioning; cleaning; window washing; janitorial, or rubbish removal services, (b) making any alterations, repairs or restorations, or (c) taking any action that Master Landlord has agreed to provide, make, comply with, or take, or cause to be provided, made complied with, or taken under the Master Lease (collectively "**<u>Services and Repairs</u>**"); provided, however, Subtenant shall have the right to receive all of the services and utilities with respect to the Premises, as the same are to be provided by Master Landlord under the Master Lease with respect to the Premises. Subtenant shall notify Sublandlord promptly of the need for any Services and Repairs to the Premises, even if Sublandlord is not responsible for any such repair, provided, however, in no event shall Sublandlord be required to commence an action, litigation, arbitration or other legal proceeding (collectively, a "**<u>Legal Proceeding</u>**") against Master Landlord. A default by Master Landlord under the Master Lease shall not excuse Subtenant's performance under the Sublease except to the extent Sublandlord is excused from performance under the Master Lease, including, but not limited to, obligations of payment subject to abatement under the Master Lease; provided, however, that Subtenant shall not be entitled to an abatement of Base Rent or any other item of Rent, by reason of default or failure to provide Services and Repairs by Master Landlord, unless Sublandlord receives a corresponding abatement pursuant to the terms of the Master Lease.

Sublandlord and Subtenant acknowledge that utilities for the Premises are separately metered, and Subtenant shall pay directly for any costs for utilities and Services and Repairs allocable to the Premises that are not otherwise ordinarily included in "Operating Expenses" (as defined in the Master Lease) such as installing, operating, maintaining, or repairing any meter or other device used to measure Subtenant's consumption of utilities and/or installing, operating, maintaining, or repairing any Temperature Balance Equipment (as defined in the Master Lease), and any costs for additional utilities and Services and Repairs beyond the "Basic Services" (as defined in the Master Lease) furnished to the

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Premises, including, without limitation, any "Excess Services" (as defined in the Master Lease) and any equipment required in connection therewith. In the event the costs for the foregoing are paid by Sublandlord directly to Master Landlord, Subtenant shall reimburse Sublandlord for such costs within thirty (30) days after receipt of an invoice therefor. Sublandlord and Subtenant acknowledge and agree that Subtenant shall have no obligation to pay for Operating Expenses (as defined in the Master Lease).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3&nbsp;&nbsp;&nbsp;&nbsp;**Liability of Sublandlord**. Except in connection with the occurrence of a default by Sublandlord under the Sublease not attributable to any actions or omissions of Subtenant or any gross negligence or willful misconduct by Sublandlord, Sublandlord shall not be liable to Subtenant for any failure or defect in the supply or character of any Services and Repairs furnished to the Premises, including, without limitation, electric current furnished to the Premises. Notwithstanding the foregoing, and without limiting Subtenant's right to request such Services and Repairs directly from Master Landlord as set forth in Section 12.4 below, upon written notice to Sublandlord of the existence of a defect or failure with respect to the supply or character of any Services and Repairs furnished to the Premises and an express request from Subtenant for Sublandlord to provide Master Landlord written notice of such defect or failure, Sublandlord shall promptly inform Master Landlord of any such issue and shall use commercially reasonable efforts to cause Master Landlord to remedy the same and to comply with its obligations under the Master Lease. Subtenant shall comply with Paragraph 17(c) of the Original Lease with respect to its connected electrical load.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4&nbsp;&nbsp;&nbsp;&nbsp;**Services and Repairs to be Provided by Master Landlord**. To the extent any Services and Repairs are to be provided by Master Landlord, Subtenant shall promptly request such Services and Repairs directly from Master Landlord, including, without limitation, freight elevator service, additional heating and air conditioning outside of normal business hours, repairs to the Premises or any services or materials which may be furnished by Master Landlord to tenants and occupants of the Building; provided, however, if Master Landlord refuses to honor and/or respond to Subtenant's requests due to the lack of privity between Master Landlord and Subtenant, after Subtenant's request (which may be effectuated by email delivery alone), Sublandlord shall promptly request any such Services and Repairs from Master Landlord. If Master Landlord elects to bill Subtenant directly for any services (in which event Subtenant shall furnish Sublandlord with a copy of any such bills upon its receipt), Subtenant shall pay for such Services and Repairs so billed within thirty (30) days after receipt of such bill. Notwithstanding anything to the contrary in the foregoing and for purposes of clarification, to the extent the consent of Sublandlord and/or Master Landlord is required under this Sublease, unless otherwise directed by Sublandlord, Subtenant shall not request Master Landlord's consent or approval directly, and all such requests shall be made through Sublandlord and Sublandlord shall use commercially reasonable efforts to obtain such consent or approval.

**13.&nbsp;&nbsp;&nbsp;&nbsp;*SUBTENANT ALTERATIONS AND SIGNAGE***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1&nbsp;&nbsp;&nbsp;&nbsp;**Alterations**. Subtenant shall not make or permit any alterations, additions or improvements to or of the Premises or any part thereof or attach any fixtures or equipment thereto without first obtaining the prior written consent of Sublandlord, which consent shall not be unreasonably withheld, conditioned or delayed, and the consent of Master Landlord, if and to the extent the consent of Master Landlord is required under the Master Lease. Any alterations, additions, or improvements made by Subtenant to the Premises shall be made by Subtenant at Subtenant's sole cost and expense in a good and workmanlike manner and in conformance with all applicable statutes, codes, ordinances, rules and regulations, and in conformance with Master Landlord's (if any) reasonable construction rules and regulations. In connection with any such alterations, Subtenant shall obtain all necessary permits, approvals and certificates required by any governmental authorities having jurisdiction over the Premises

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and provide Sublandlord with copies of same. Any contractor or person selected by Subtenant to make the same must first be approved in writing by Sublandlord and Master Landlord, such approval not to be unreasonably withheld, provided that Subtenant shall use a contractor of Sublandlord's or Master Landlord's selection to perform all work that may affect structural aspects of the Building, any Building systems or equipment, or the exterior appearance of the Building. Before commencing any alterations, Subtenant shall furnish to Sublandlord certificates of worker's compensation (covering all persons to be employed by Subtenant, and Subtenant's contractors and subcontractors in connection with such work) and commercial public liability (including property damage coverage) insurance in such form, with such companies, for such periods and in such amounts as are required under the Master Lease, naming Sublandlord and Master Landlord, and their respective officers, directors and employees, and any mortgagee, as additional insureds.

All of Subtenant's alterations, additions, fixtures and improvements shall be made in a manner that will not interfere with the quiet enjoyment of the other tenants or occupants of the Building. All alterations, additions, fixtures and improvements, whether temporary or permanent in character, but excepting Subtenant's trade fixtures and personal property, made in or upon the Premises, by Subtenant, shall, subject to Section 13.2 below, upon the expiration or earlier termination of the Term, become Sublandlord's property and, at the end of the Term, shall remain on the Premises without compensation to Subtenant. Subtenant shall promptly reimburse Sublandlord upon demand for all actual out-of-pocket costs and expenses reasonably incurred by Master Landlord and permitted to be charged to Sublandlord in accordance with the Master Lease in connection with Master Landlord's review of any plans and specifications submitted by Subtenant to Sublandlord hereunder, including without limitation, architects' and engineers' fees.

Upon completion of any alterations, upon Sublandlord's written request, Subtenant shall deliver to Sublandlord general releases and final waivers of lien from all contractors and to the extent not addressed in the contractors' lien waivers, from subcontractors and materials suppliers involved in the performance of such alterations, and to the extent Subtenant hires an architect in connection with any such alterations, a certificate from Subtenant's independent licensed architect certifying to Sublandlord and Master Landlord that (i) in such architect's opinion such alterations have been performed in a good and workmanlike manner and completed in accordance with the approved plans and specifications (if applicable) and (ii) all contractors, subcontractors, and materialmen have been paid for such alterations and materials furnished through such date. In addition, upon completion of any alterations, Subtenant, at Subtenant's sole cost and expense, shall obtain certificates of final approval of such work required by any governmental authority and shall furnish Sublandlord with copies thereof (to the extent any such approval is required by applicable law), together with "as-built" plans and specifications for such alterations (to the extent the same were prepared in connection with the alterations), it being agreed that all filings with governmental authorities to obtain such permits, approvals and certificates shall be made, at Subtenant's sole cost and expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2&nbsp;&nbsp;&nbsp;&nbsp;**Removal**. Notwithstanding the foregoing, before the expiration of the Term or upon any earlier termination of the Term, Subtenant shall promptly remove all of its (i) trade fixtures, (ii) personal property, (iii) alterations or improvements installed by Subtenant that Master Landlord requires the removal thereof in accordance with Paragraph 9(b) of the Original Lease and Sublandlord notifies Subtenant of the same, and (iv) improvements installed by Subtenant that are of a type or quantity that would not be installed by or for a typical tenant using space for general office purposes, or are otherwise non-standard (e.g., customized elevator call buttons, raised flooring, internal stairways, supplemental HVAC systems, fire suppression systems that are customarily installed for computer rooms but not for ordinary office space, racking systems, rolling or high density filing systems, cafeteria and other private

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eating and cooking facilities and all specialty systems and installations relating thereto, restrooms, or shower areas facilities referred to as "**<u>Specialty Alterations</u>**" in the Original Lease), from the Premises, repair all damage caused by such removal and restore the Premises to the condition that existed prior to the installation of such alterations or additions required to be removed pursuant to subsections (i) – (iv) of this Section 13.2. Notwithstanding anything to the contrary set forth herein, except for the Remaining FF&E (which removal shall be governed by Section 2.6 above), in no event shall Subtenant be required to remove any improvements, fixtures, or equipment (including, without limitation, cabling) existing in the Premises as of the Commencement Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3&nbsp;&nbsp;&nbsp;&nbsp;**Intentionally deleted**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4&nbsp;&nbsp;&nbsp;&nbsp;**Signs**. Subtenant shall not place or permit to be placed any sign, picture, advertisement, notice, lettering or decoration on any part of the outside of the Premises or anywhere in the interior of the Premises which is visible from the outside of the Premises without Sublandlord's prior written approval, not to be unreasonably withheld, conditioned, or delayed, and Master Landlord's prior written approval (if and to the extent required by the Master Lease). Subtenant shall be entitled, at Subtenant's expense, to install its identification signage and logos in the floor's elevator bank and on the front entry glass to the Premises and standard directory board or monitor signage located in the main lobby of the Building, subject to the prior written approval of Sublandlord, not to be unreasonably withheld, conditioned, or delayed, and Master Landlord (if and to the extent required by the Master Lease). Subtenant's signs shall be treated as Subtenant's personal property with respect to Subtenant's removal obligations under Section 13.2 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.5&nbsp;&nbsp;&nbsp;&nbsp;**Repairs**. Subtenant shall at all times during the Term hereof, at its sole cost, keep the Premises and every part thereof, including (i) Subtenant's alterations and improvements, (ii) any computer or telecommunication cabling or system installed by or on behalf of Subtenant, (iii) Subtenant's kitchen plumbing fixtures, drains and appliances, if any, (iv) intentionally deleted, and (v) any electrical, lighting, plumbing, heating, air-conditioning, ventilation or other system, only to the extent that the same was installed by or on behalf of Subtenant, if any, in good condition and repair and otherwise in compliance with the Master Lease; provided, however, to the extent the maintenance or repair of any Building system is the obligation of the Master Landlord under the Master Lease, then Subtenant shall either (i) provide Master Landlord written notice thereof in accordance with Section 12.4 above, or (ii) provide Sublandlord with written notice of its request for maintenance or repair of the applicable Building system as required by Section 12.3 above, and Sublandlord will promptly provide notice to Master Landlord and use commercially reasonable efforts to cause Master Landlord to perform the same; provided, however, in no event shall Sublandlord be required to commence a Legal Proceeding if Master Landlord fails to perform any maintenance or repairs required by the Master Lease. Subtenant hereby waives any right it may have under the California Civil Code or other law, statute or ordinance now or hereafter in effect to make repairs to the Premises at the expense of Sublandlord, to offset the cost thereof against Rent, or to terminate this Sublease by reason of damage to or destruction of the Premises, except as provided in Section 10. The rights of Subtenant with respect to the foregoing matters shall be governed solely by the provisions of this Sublease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.6&nbsp;&nbsp;&nbsp;&nbsp;**Liens**. Subtenant shall keep the Premises, and the Building, free and clear of liens related to any and all work performed or allegedly performed, mechanic's, materialmen's and other liens for work, materials, services or labor done, used or furnished to be used, to or on the order of Subtenant. At all times Subtenant shall promptly and fully pay and discharge any and all claims upon which any such lien may or could be based, and Subtenant shall indemnify and hold Sublandlord and Master Landlord harmless from and against any and all claims for mechanics', materialmen's or other liens in connection

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with any alterations, repairs, or any work performed, materials furnished or obligations incurred by or for the Subtenant in connection with the Premises, all buildings and improvements within which the Premises are located, and the balance of the Building. If within ten (10) business days following the imposition of any such lien, Subtenant shall not cause the same to be released of record by payment or posting of a proper bond, Sublandlord and Master Landlord shall have, in addition to all other remedies provided herein and by law, the right, but not the obligation, to cause the same to be released by such means as Sublandlord may deem proper, including payment of the claim giving rise to the lien. All sums paid and all costs incurred by Sublandlord in connection therewith shall constitute Rent payable by Subtenant on demand together with interest thereon at the rate of twelve percent (12%) per annum, or the maximum rate permitted by law, whichever is less. Sublandlord shall have the right at all times to post and keep posted on the Premises any notices permitted or required by law, or which Sublandlord shall deem proper, for the protection of Sublandlord, the Premises, the Building, and any other person having an interest therein, from mechanics' and materialmen's liens. Subtenant shall give Sublandlord written notice of commencement of any construction within the Premises at least twenty (20) days prior to the date thereof.

**14.&nbsp;&nbsp;&nbsp;&nbsp;*ASSIGNMENT AND SUBLETTING***

Sublandlord and Subtenant agree that Article 13 of the Master Lease, as amended, shall govern Subtenant's rights as it relates to assignment and subletting of the Premises.

**15.&nbsp;&nbsp;&nbsp;&nbsp;*SUBORDINATION AND ATTORNMENT***

This Sublease is in all respects subject and subordinate to the terms and conditions of the Master Lease and to all instruments, laws, rules, regulations, and restrictions to which the Master Lease is subject and subordinate.

Notwithstanding anything to the contrary set forth herein, the following paragraphs of the Master Lease and any references to such provisions shall be deemed deleted therefrom and shall have no force and effect as between Sublandlord and Subtenant: 2, 3, 4, 5, 6, 7, 8(b)(ii) and 8(c), 10, 12, 14, 16, 17, 20, 21, 24, 25, 28, 29, 31, 32, 33, 34, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 47, 48, 52, 53, 58, 59, 60, 61, 62, 63, 64, Exhibit C, Exhibit D, Exhibit E, Exhibit H, Exhibit I, Exhibit J, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the Seventh Amendment, the Eighth Amendment, the Ninth Amendment, the Tenth Amendment, the Eleventh Amendment, the Twelfth Amendment other than Section 10 thereunder, the Thirteenth Amendment, the Fourteenth Amendment, the Fifteenth Amendment, the Sixteenth Amendment (other than Section 8), and any portion of the Master Lease and amendments thereto that are not directly related to the Premises.

If any of the express provisions of this Sublease shall conflict with any of the provisions of the Master Lease incorporated by reference, such conflict shall be resolved in every instance in favor of the express provisions of the Sublease.

**16.&nbsp;&nbsp;&nbsp;&nbsp;*ESTOPPEL CERTIFICATES AND FINANCIAL STATEMENTS***

No later than five (5) business days after receipt of written request from Sublandlord delivered in accordance with Section 21, Subtenant shall execute, acknowledge, and deliver to Sublandlord or such persons as Sublandlord may direct a statement in writing (i) certifying that this Sublease is unmodified and in full force and effect (or if modified, stating the nature of such modification and certifying that this Sublease, as modified, is in full force and effect) and the date to which Rent has been paid in advance, if any, (ii) acknowledging that there are not, to Subtenant's knowledge, any uncured defaults on the part of

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Sublandlord hereunder, or specifying the defaults if any are claimed, and (iii) certifying or acknowledging such additional factual information as Sublandlord or any potential purchaser, encumbrancer, assignee or other transferee of all or any portion of the Building or Sublandlord's interest therein may reasonably request, to the extent such information is typically included in commercial tenant estoppel certificates. Any such statement may be conclusively relied upon by any prospective purchaser, encumbrancer, assignee, or other transferee. Subtenant's failure to deliver such statement within such time shall be conclusive upon Subtenant (a) that this Sublease is in full force and effect, without modification except as may be represented by Sublandlord, (b) that there are no uncured defaults in Sublandlord's or Master Landlord's performance (other than any defaults that Sublandlord may have received written notice of from Subtenant and/or Master Landlord), (c) that not more than one (1) month's installment of Base Rent has been paid in advance (other than the advance payment of Base Rent set forth in Section 1.17 above), and (d) any other statements of fact included by Sublandlord in such statement are correct; provided, however, subsections (a) through (d) set forth above shall only be deemed conclusive against Subtenant if (A) in addition to Sublandlord's written request for such estoppel as required by the first sentence of this Section 16, Sublandlord also concurrently provides a written request via email to Jamie Rogers (email: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) and Alex Acheson (email: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) of Subtenant, and (B) Subtenant fails to deliver such estoppel certificate within the five (5)-business day period set forth above. For the avoidance of doubt, Sublandlord shall not be required in any instance to provide the email notice set forth in the immediately preceding sentence, but in the absence of such email notice, subsections (a) through (d) above shall not be deemed conclusive against Subtenant in the event Subtenant fails to deliver the estoppel certificate within the five (5)-business day period. Within thirty (30) days after written request, Subtenant shall also deliver to any prospective purchaser, encumbrancer, assignee or other transferee designated by Sublandlord such financial statements of Subtenant as may be reasonably required by the prospective purchaser, encumbrancer, assignee, or other transferee. All financial statements shall be received by Sublandlord and any such prospective purchaser, encumbrancer, assignee, or other transferee in confidence and shall be used only for the purposes herein set forth. Subtenant shall be permitted to condition the delivery of such financial statements on receipt of a commercially reasonable non-disclosure agreement from the applicable recipient.

**17.&nbsp;&nbsp;&nbsp;&nbsp;*QUIET ENJOYMENT***

Sublandlord covenants that subject to the rights, obligations, and acts of the Master Landlord, provided Subtenant is not in a default of this Sublease continuing beyond all applicable notice and cure periods, Sublandlord shall not take any act to interfere with Subtenant's right to peaceably and quietly hold and enjoy the Premises for the Term without hindrance or interruption by Sublandlord or any other person lawfully claiming by, through or under Sublandlord unless otherwise expressly permitted by the terms of this Sublease.

**18.&nbsp;&nbsp;&nbsp;&nbsp;*SURRENDER AND HOLDOVER***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1&nbsp;&nbsp;&nbsp;&nbsp;**Surrender**. Subject to Section 13.2, upon the expiration or termination of this Sublease or of Subtenant's right to possession, Subtenant shall surrender the Premises in a broom clean undamaged condition, reasonable wear and tear and damage by casualty excepted, and shall remove all of Subtenant's equipment, personal property (including the Telecommunications Cabling), and Specialty Alterations to the extent required by Section 13.2 hereof, and repair all damage caused by the removal. Subtenant shall not remove permanent improvements that were provided by Sublandlord at the commencement of this Sublease.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2&nbsp;&nbsp;&nbsp;&nbsp;**Holdover**. For each day Subtenant retains possession of all or any part of the Premises after expiration of the Term, whether by lapse of time or otherwise, Subtenant shall pay Sublandlord double the amount of the Base Rent for the Premises in effect as of the last day of the Term, plus, to the extent Subtenant holds over in excess of sixty (60) days, all damages sustained by Sublandlord as a consequence of such holding over; provided, however, that upon written notice to Subtenant, Sublandlord may elect to treat such holding over as a renewal of this Sublease for a month to month tenancy; provided further, however, that if Sublandlord does not so elect, acceptance by Sublandlord of Rent after expiration of the Term shall not constitute a renewal. This provision shall not be deemed to waive Sublandlord's right of re-entry or any other right of Sublandlord under this Sublease or at law. If Subtenant holds over in possession of the Premises beyond the expiration or earlier termination of the Term, and if as a direct or indirect result of such holdover, Sublandlord suffers damages due to a loss of a new tenancy for itself or for Master Landlord, loss of a leasing opportunity, or the inability to timely deliver possession to a new tenant, then Subtenant shall be responsible, and shall indemnify and hold Master Landlord and Sublandlord harmless, for all such claims, losses, and damages.

**19.&nbsp;&nbsp;&nbsp;&nbsp;*BREACH, DEFAULT, AND REMEDIES***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.1&nbsp;&nbsp;&nbsp;&nbsp;**Default**. The following shall constitute "**<u>Events of Default</u>**":

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subtenant fails to pay rent or any other amount due under this Sublease within three (3) business days after notice of nonpayment, until notice of nonpayment is given twice in any consecutive twelve (12) month period, after which no further notice shall be required; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subtenant fails to execute, acknowledge and return an estoppel certificate within one (1) business day after delivery of notice that such estoppel certificate is past due; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Intentionally deleted; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;(i) the making by Subtenant or any guarantor hereof of any general assignment for the benefit of creditors, (ii) the filing by or against Subtenant or any guarantor hereof of a petition to have Subtenant or any guarantor hereof adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Subtenant or any guarantor hereof, the same is dismissed within sixty (60) days), (iii) the appointment of a trustee or receiver to take possession of substantially all of Subtenant's assets located at the Premises or of Subtenant's interest in this Sublease or of substantially all of guarantor's assets, where possession is not restored to Subtenant or guarantor within sixty (60) days, or (iv) the attachment, execution or other judicial seizure of substantially all of Subtenant's assets located at the Premises or of substantially all of guarantor's assets or of Subtenant's interest in this Sublease where such seizure is not discharged within sixty (60) days; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;intentionally deleted; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Subtenant shall be liquidated or dissolved or shall begin proceedings towards its liquidation or dissolution; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Subtenant breaches any other obligation under this Sublease and fails to cure the breach within twenty (20) days after notice of nonperformance; provided, however, that if the breach is of such a nature that it cannot be cured within twenty (20) days, no Event of Default shall be deemed to have occurred by reason of the breach if cure is commenced promptly and diligently pursued to completion, and provided further, that in the event of a breach involving an imminent threat to health or safety,

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Sublandlord may in its notice of breach reduce the period for cure to such shorter period as may be reasonable under the circumstances.

Any notice sent by Sublandlord to Subtenant pursuant to this Section 19.1 shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2&nbsp;&nbsp;&nbsp;&nbsp;**Remedies**. In the Event of Default by Subtenant, in addition to any other remedies available to Sublandlord under this Sublease, at law or in equity, Sublandlord shall have the immediate option to terminate this Sublease and all rights of Subtenant hereunder. In the event that Sublandlord shall elect to so terminate this Sublease, then Sublandlord may recover from Subtenant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the worth at the time of the award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Subtenant proves could have been reasonably avoided; plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Subtenant proves could be reasonably avoided; plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any other amount necessary to compensate Sublandlord for all the detriment proximately caused by Subtenant's failure to perform its obligations under this Sublease or which, in the ordinary course of things, would be likely to result therefrom including, but not limited to: unamortized rent abatement; reasonable attorneys' fees; brokers' commissions; the reasonable costs of refurbishment, alterations, renovation and repair of the Premises for a new subtenant; and removal (including the repair of any damage caused by such removal) and storage (or disposal) of Subtenant's personal property, equipment, fixtures, Subtenant alterations, and any other items which Subtenant is required under this Sublease to remove but does not remove.

As used in Sections 19.2(a) and 19.2(b) above, the "worth at the time of award" is computed by allowing interest at the lesser of (a) the rate announced from time to time by Wells Fargo Bank or, if Wells Fargo Bank ceases to exist or ceases to publish such rate, then the rate announced from time to time by the largest (as measured by deposits) chartered bank operating in California, as its "prime rate" or "reference rate", plus two percent (2%); or (b) the maximum rate allowed by law to be charged by Sublandlord under the circumstances described herein, per annum and compounded on a monthly basis. As used in Section 19.2(c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).

Sublandlord shall have no obligation to observe or perform any of its covenants under this Sublease after and so long as there exists an Event of Default by Subtenant. Nonperformance by Sublandlord under this Section 19.2 shall not constitute a termination of Subtenant's right to possession or a constructive eviction of Subtenant.

In the Event of Default by Subtenant, in addition to any other remedies available to Sublandlord under this Sublease, at law or in equity, Sublandlord shall also have the right, with or without terminating this Sublease, to re-enter the Premises and remove all persons and property from the Premises; such property may be removed, stored and/or disposed of pursuant to the terms of this Sublease or any other

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procedures permitted by applicable law. No re-entry or taking possession of the Premises by Sublandlord pursuant to this Section 19.2, and no acceptance of surrender of the Premises or other action on Sublandlord's part, shall be construed as an election to terminate this Sublease unless a written notice of such intention be given to Subtenant or unless the termination thereof be decreed by a court of competent jurisdiction.

Sublandlord shall have the remedy described in California Civil Code Section 1951.4 (lessor may continue lease in effect after lessee's breach and abandonment and recover rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable limitations). Accordingly, if Sublandlord does not elect to terminate this Sublease on account of any default by Subtenant, Sublandlord may, from time to time, without terminating this Sublease, enforce all of its rights and remedies under this Sublease, including the right to recover all rent as it becomes due.

Sublandlord hereby waives any lien rights which it may otherwise have concerning Subtenant's property, which shall include furniture, fixtures, equipment, any and all equipment and/or supplies utilized by Subtenant in its business operations and Subtenant shall have the right to remove the same at any time without Sublandlord's consent. Tenant's lender shall have no right to enter onto the Premises or the Building for the purpose of inspecting, repairing or removing Subtenant's personal property without Sublandlord's prior written consent, which shall not be unreasonably withheld, conditioned, or delayed. Nothing in this Section 19.2 shall permit Subtenant to encumber its leasehold interest in the Premises.

All rights, options, and remedies of Sublandlord contained in this Section 19.2 and elsewhere in this Sublease shall be construed and held to be cumulative, and no one of them shall be exclusive of the other, and Sublandlord shall have the right to pursue any one or all of such remedies or any other remedy or relief which may be provided by law or in equity, whether or not stated in this Sublease. Nothing in this Section 19.2 shall be deemed to limit or otherwise affect Subtenant's indemnification of Sublandlord pursuant to any provision of this Sublease.

Subtenant hereby waives and surrenders for itself and all those claiming under it, including creditors of all kinds, (i) any right and privilege which it or any of them may have under California Code of Civil Procedure Section 1179, or under any other present or future law to redeem any of the Premises or to have a continuance of this Sublease after termination of this Sublease or of Subtenant's right of occupancy or possession pursuant to any court order or any provision hereof, and (ii) the benefits of any present or future law which exempts property from liability for debt or for distress for rent.

Subtenant shall pay to Sublandlord and its mortgagees as additional rent all the expenses incurred by Sublandlord or its mortgagees in connection with any default by Subtenant hereunder continuing beyond expiration of all applicable notice or cure periods or the exercise of any remedy by reason of any Event of Default by Subtenant hereunder, including reasonable attorneys' fees and expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.3&nbsp;&nbsp;&nbsp;&nbsp;**Consequential Damages**. Except for consequential damages arising from any unauthorized holdover by Subtenant in the Premises, neither Sublandlord nor Subtenant shall be liable to the other party for any consequential, special, or indirect damages resulting from or arising out of the breach or default by either party of the terms and obligations under this Sublease.

**20.&nbsp;&nbsp;&nbsp;&nbsp;*SUBLANDLORD LIABILITY***

Notwithstanding anything to the contrary in this Sublease, Sublandlord's directors, officers, shareholders, employees, agents, constituent partners, beneficiaries, trustees, representatives, successors or assigns (collectively, "**<u>Sublandlord's Affiliates</u>**") shall not be personally responsible or liable for any

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representation, warranty, covenant, undertaking or agreement contained in this Sublease. Notwithstanding anything to the contrary in this Sublease, Subtenant's directors, officers, shareholders, employees, agents, constituent partners, beneficiaries, trustees, representatives, successors or assigns (collectively, "**<u>Subtenant's Affiliates</u>**") shall not be personally responsible or liable for any representation, warranty, covenant, undertaking or agreement contained in this Sublease.

**21.&nbsp;&nbsp;&nbsp;&nbsp;*NOTICES***

All notices required under this Sublease and other information concerning this Sublease ("**<u>Communications</u>**") shall be personally delivered or sent by first class mail, postage prepaid, by overnight courier (such as FedEx or UPS), or by email delivery (provided that a concurrent copy of such notice is sent by one of the other methods described in this sentence within one (1) business day after delivery of the applicable email). Such Communications sent by personal delivery, mail, overnight courier, or email delivery will be sent to the addresses of Subtenant in Section 1.12 and of Sublandlord in Section 1.13 of this Sublease, or to such other addresses as the Sublandlord and the Subtenant may specify from time to time in writing. Communications shall be effective (i) if hand-delivered by courier, when delivered, or (ii) if sent by recognized national overnight courier service, on the date of delivery. Any email Communications may be sent electronically by either party to the other by transmitting the Communication to the electronic address set forth in Section 1.12 or 1.13, as applicable or to such other electronic address as such party may specify from time to time in writing, with a copy sent via another method of delivery authorized by this Article 21 within one (1) business day thereafter. Communications sent electronically will be effective when the Communication is sent to the party's electronic address.

**22.&nbsp;&nbsp;&nbsp;&nbsp;*BROKERAGE***

Subtenant and Sublandlord each warrants and represents to the other that no broker or other person is entitled to claim a commission, broker's fee or other compensation in connection with this Sublease except: the brokers specifically designated by Sublandlord or Subtenant, as applicable, which are listed in Sections 1.14 and 1.15. Subtenant and Sublandlord shall defend, indemnify, and hold each other harmless from all claims or liabilities arising from any breach of the foregoing representations and warranties. Sublandlord agrees to pay brokerage commissions arising as a result of this Sublease, that may be due under any written listing agreement and/or a separate written commission agreement between the Sublandlord and such brokers set forth in Sections 1.14 and 1.15.

**23.&nbsp;&nbsp;&nbsp;&nbsp;*MASTER LEASE***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.1&nbsp;&nbsp;&nbsp;&nbsp;**Termination of Master Lease**. If the Master Lease is terminated pursuant to the terms thereof with respect to all or any portion of the Premises prior to the Expiration Date for any reason whatsoever, including, without limitation, by reason of casualty or condemnation, this Sublease shall thereupon terminate (x) with respect to any corresponding portion of the Premises, so affected by such termination or (y) with respect to the entire Premises, and Sublandlord shall not be liable to Subtenant by reason thereof. In the event of such termination, provided Subtenant is not in default hereunder following notice and beyond the expiration of any applicable cure period, Sublandlord shall return to Subtenant (a) in the case of clause (x), that portion of the Base Rent and/or additional rent paid in advance by Subtenant with respect to such portion of the Premises, if any, prorated as of the date of such termination and (b) in the case of clause (y), all Base Rent and/or additional rent paid in advance by Subtenant with respect to the Premises, if any.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.2&nbsp;&nbsp;&nbsp;&nbsp;**Representations**. Sublandlord represents and warrants to Subtenant that (i) the Lease attached hereto as <u>Exhibit B</u> is a true and complete copy thereof (and has not been otherwise modified except for the sixteen amendments included therein), (ii) the Lease is in full force and effect, (iii) to Sublandlord's knowledge, Master Landlord is not in default under the Lease, and (iv) Sublandlord has not received any written notice of default under the Lease, except for any defaults which Sublandlord has cured and Master Landlord is no longer claiming in writing to exist.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.3&nbsp;&nbsp;&nbsp;&nbsp;**Covenants**. Notwithstanding anything to the contrary set forth herein, but in all cases subject to Section 2.1 above, Sublandlord covenants and agrees that Sublandlord shall not (a) enter into any agreement that will cause either the Master Lease to be terminated or the Premises to be surrendered prior to the expiration of the Term, or (b) cause any breach or default by Sublandlord under the Master Lease (but expressly excluding any breach or default by Sublandlord under the Master Lease caused by Subtenant) that will result in any such termination or surrender which breach or default remains uncured beyond applicable notice and cure periods, unless Master Landlord shall accept this Sublease as a direct lease between Master Landlord and Subtenant and Master Landlord expressly assumes Sublandlord's obligations hereunder. In the event Sublandlord breaches or causes a default under the Master Lease that is not caused by Subtenant and such breach or default continues beyond applicable notice and cure periods, Subtenant shall have the right to terminate this Sublease upon thirty (30) days' written notice to Sublandlord. Except as expressly permitted hereunder, Sublandlord shall not enter into any amendment or other agreement with respect to the Master Lease that will prevent or materially adversely affect the use by Subtenant of the Premises in accordance with the terms of this Sublease, increase the obligations of Subtenant or decrease the rights of Subtenant under this Sublease, shorten the term of this Sublease or increase the rental or any other sums required to be paid by Subtenant under this Sublease.

**24.&nbsp;&nbsp;&nbsp;&nbsp;*CONSENT OF MASTER LANDLORD TO SUBLEASE***

Subtenant and Sublandlord each hereby acknowledges and agrees that this Sublease is subject to and conditioned upon Sublandlord obtaining the written consent (in a commercially reasonable form) (the "**<u>Consent</u>**") of Master Landlord to this Sublease as provided in the Master Lease. Promptly following the execution and delivery hereof, Sublandlord shall submit this Sublease to Master Landlord with a request for the Consent and shall use commercially reasonable efforts to obtain the Consent. Subtenant hereby agrees that it shall cooperate in good faith with Sublandlord and shall comply with any reasonable requests made of Subtenant by Sublandlord or Master Landlord in the procurement of the Consent. In no event shall Sublandlord be obligated to make any payment to Master Landlord in order to obtain the Consent or the consent to any provision hereof, other than as expressly set forth in the Master Lease; provided, however, Sublandlord shall be responsible for and make all payments required under the Master Lease in connection with requesting and/or obtaining the Consent. If Master Landlord fails to deliver the Consent within sixty (60) days after the Effective Date, Subtenant may terminate this Sublease by delivering notice to Sublandlord at any time thereafter, but before Master Landlord delivers the Consent, and in such event, Sublandlord shall return to Subtenant any sums paid hereunder within ten (10) business days of such termination. The Consent shall not be deemed received unless it includes Master Landlord's approval of (a) Subtenant's use of a portion of the Premises as a hardware laboratory pursuant to Section 1.10 and (b) Subtenant's license to use the 9th Floor Deck pursuant to Section 2.3(a).

**25.&nbsp;&nbsp;&nbsp;&nbsp;*OFAC COMPLIANCE***

Sublandlord and Subtenant hereby represent as follows: (a) Neither Sublandlord nor Subtenant, nor their respective principals, officers, members or directors (respectively, the "**<u>Sublandlord</u> <u>Individuals</u>**" or "**<u>Subtenant Individuals</u>**," as applicable), are, or during the Term shall be, a person or

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entity with whom Sublandlord or Subtenant, as applicable, are restricted from doing business under the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA Patriot Act) Pub L 107-56, 115 Stat 272, Executive Order No. 13224 (Sept. 24 2001), and regulations promulgated thereunder; (b) Neither the Sublandlord Individuals nor the Subtenant Individuals are, or during the Term shall be, included as persons or entities named on the Department of Treasury's Office of Foreign Assets Control (OFAC) Specially Designated Nationals and Blocked Persons List (SDN List); and (c) Any breach of the foregoing representation by either Sublandlord or Subtenant shall be deemed an event of default under the Sublease, as amended hereby, and the non-breaching party shall have the right to exercise any remedies available to such party under the Sublease, as amended. In addition, the breaching party shall defend, indemnify, and hold harmless the non-breaching party from and against any and all claims, damages, out-of-pocket losses, risks, liabilities, and expenses (including reasonable attorney's fees and costs) arising from or related to the foregoing certification.

**26.&nbsp;&nbsp;&nbsp;&nbsp;*WAIVER OF TRIAL BY JURY; COUNTERCLAIMS***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.1&nbsp;&nbsp;&nbsp;&nbsp;**TO THE EXTENT PERMITTED BY APPLICABLE LAW, SUBLANDLORD AND SUBTENANT HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (INCLUDING ANY CLAIM OF INJURY OR DAMAGE AND ANY EMERGENCY AND OTHER STATUTORY REMEDY IN RESPECT THEREOF) BROUGHT BY EITHER AGAINST THE OTHER ON ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS SUBLEASE, THE RELATIONSHIP OF SUBLANDLORD AND SUBTENANT, OR SUBTENANT'S USE OR OCCUPANCY OF THE PREMISES**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.2&nbsp;&nbsp;&nbsp;&nbsp;If Sublandlord commences any summary proceeding against Subtenant, then Subtenant shall not interpose any counterclaim of whatever nature or description in any such proceeding (except to the extent that applicable law precludes Subtenant from asserting such counterclaim in another proceeding), and shall not seek to consolidate such proceeding with any other action which may have been or will be brought in any other court by Subtenant. Nothing contained in this Section 26.2 limits Subtenant's right to assert claims against Sublandlord in a separate proceeding.

**27.&nbsp;&nbsp;&nbsp;&nbsp;*RIGHT OF SUBLANDLORD TO PERFORM.***

Subtenant shall timely pay and perform all of its obligations under this Sublease at its sole cost and without any abatement of Rent, except as otherwise set forth herein. If Subtenant shall fail to timely pay any sum of money, other than Rent, required to be paid by it hereunder, or shall fail to timely perform any other act on its part to be performed hereunder and such failure continues beyond all applicable notice and cure periods, Sublandlord shall have the right, but not the obligation, to make any such payment or perform any such other act without waiving or releasing Subtenant from any of Subtenant's obligations. All sums paid and all costs incurred by Sublandlord in connection therewith, together with interest thereon at the lesser of twelve percent (12%) per annum or the maximum rate permitted by law, shall constitute Rent payable to Sublandlord within thirty (30) days after demand.

**28.&nbsp;&nbsp;&nbsp;&nbsp;*GENERAL***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.1&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. To the extent allowed under applicable law, if any term, covenant or condition of this Sublease, or the application thereof, is to any extent held or rendered invalid, it shall be and is hereby deemed to be independent of the remainder of the Sublease and to be severable and

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divisible therefrom, and its invalidity, unenforceability or illegality shall not affect, impair, or invalidate the remainder of the Sublease or any part thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.2&nbsp;&nbsp;&nbsp;&nbsp;**No Waiver**. The failure of either party to insist in any one or more instances upon the strict performance of any one or more of the obligations of this Sublease or to exercise an election herein contained shall not be construed as a waiver or relinquishment for the future of the performance of such one or more obligations of this Sublease or the right to exercise such election, but the same shall continue and remain in full force and effect with respect to any subsequent breach, act or omission. The subsequent acceptance of Rent by Sublandlord shall not be deemed to be a waiver of any preceding breach by Subtenant of any term, covenant, or condition of this Sublease, regardless of Sublandlord's knowledge of such preceding breach at the time of acceptance of Rent. No term, covenant or condition of this Sublease shall be deemed to have been waived unless such waiver is in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.3&nbsp;&nbsp;&nbsp;&nbsp;**Effect of Payment**. No payment by Subtenant or receipt by Sublandlord of a lesser amount than the monthly payment of Rent herein stipulated is deemed to be other than on account of the earliest stipulated Rent, nor is any endorsement or statement on any check or any letter accompanying any check or payment of rent deemed an acknowledgment of full payment or accord and satisfaction, and Sublandlord may accept and cash any check or payment without prejudice to Sublandlord's right to recover the balance of the rent due and pursue any other remedy provided in this Sublease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.4&nbsp;&nbsp;&nbsp;&nbsp;**Delay**. If either party is delayed or hindered in or prevented from the performance of any term, covenant or act required hereunder by reasons of strikes, labor troubles, inability to procure materials or services, power failure, restrictive governmental laws or regulations, riots, insurrection, sabotage, rebellion, war, terrorism or threatened acts of terrorism, severe or unusual weather (including rains) act of God, acts or omissions of the other party, or other reason whether of a like nature or not that is beyond the reasonable control of the party affected (hereinafter, individually, "**<u>an event of force majeure</u>**" or collectively, "**<u>events of force majeure</u>**"), financial inability excepted, then the performance of that term, covenant or act is excused for the period of the delay and the party delayed shall be entitled to perform such term, covenant or act within the appropriate time period after the expiration of the period of such delay. Nothing in this Section, however, shall excuse either party from the prompt payment of any monetary obligations under this Sublease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.5&nbsp;&nbsp;&nbsp;&nbsp;**No Offer**. The submission of this Sublease for examination does not constitute a reservation of an option to lease the Premises, and this Sublease becomes effective as a lease only upon its execution and delivery by Sublandlord and Subtenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.6&nbsp;&nbsp;&nbsp;&nbsp;**Successors**. All rights and liabilities under this Sublease extend to and bind the successors and assigns of Sublandlord and permitted successors and assigns of Subtenant. No rights, however, shall inure to the benefit of any transferee of the Subtenant unless the transfer has been consented to by the Sublandlord in writing. If there is more than one Subtenant, they are all bound jointly and severally by the terms, covenants and conditions of this Sublease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.7&nbsp;&nbsp;&nbsp;&nbsp;**Integration**. The recitals and Exhibits attached hereto are hereby incorporated by reference as if fully set forth herein. This Sublease and the Exhibits hereto attached, set forth all the covenants, promises, agreements, conditions and understandings between Sublandlord and Subtenant concerning the Premises and there are no other covenants, promises, agreements, conditions or understandings, either oral or written, between them. This Sublease may only be altered or amended by a writing signed by the parties hereto, or by an electronic record that has been electronically signed by the parties hereto and has been rendered tamper-evident as part of the signing process. The exchange of email

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or other electronic communications discussing an amendment to this Sublease, even if such communications are signed, does not constitute a signed electronic record agreeing to such an amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.8&nbsp;&nbsp;&nbsp;&nbsp;**Governing Law**. This Sublease shall be construed in accordance with and governed by the laws of the State of California, without regard to its conflicts of law rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.9&nbsp;&nbsp;&nbsp;&nbsp;**Counterparts; Signatures**. This Sublease may be executed in counterparts. All executed counterparts shall constitute one agreement, and each counterpart shall be deemed an original. Delivery of a copy of this Agreement bearing an electronic signature (e.g., by DocuSign), or a signature by facsimile transmission or by electronic mail in "pdf" format shall have the same effect as physical delivery of this Agreement bearing the original signature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.10&nbsp;&nbsp;&nbsp;&nbsp;**Time**. Time is of the essence of each and every term, covenant and condition of this Sublease. If the last day for taking any action under this Sublease does not fall on a business day, the time for taking such action shall be extended to the next business day. For purposes of this Sublease, "**<u>business</u> <u>day(s)</u>**" mean days other than Saturdays, Sundays, and holidays observed by the federal government. Notwithstanding any provision of this Sublease to the contrary, any day in which Subtenant is legally required to be open shall not be deemed a holiday.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.11&nbsp;&nbsp;&nbsp;&nbsp;**Defined Terms and Paragraph Headings**. The words "**Sublandlord**" and "**Subtenant**" as used in this Sublease shall include the plural as well as the singular. Words used in masculine gender include the feminine and neuter. The paragraph headings and title to the articles, sections and paragraphs of this Sublease are not a part of this Sublease and shall have no effect upon the construction or interpretation of any part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.12&nbsp;&nbsp;&nbsp;&nbsp;**Authority**. Each of the persons executing this Sublease on behalf of Subtenant represents and warrants to Sublandlord that Subtenant is duly authorized and existing, qualified to do business in the State of California, with full right and authority to enter into this Sublease, that each and every person signing on behalf of Subtenant is authorized to do so and that the signatures of such persons are sufficient to bind Subtenant. Upon Sublandlord's request, Subtenant will provide written evidence satisfactory to Sublandlord confirming these representations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.13&nbsp;&nbsp;&nbsp;&nbsp;**Abandonment of Trade Fixtures, Fixtures and Personal Property**. If Subtenant shall abandon or surrender the Premises, or be dispossessed by process of law or otherwise, any trade fixtures, fixtures or personal property belonging to Subtenant and left on the Premises shall be deemed, at the option of Sublandlord, to be abandoned, except such property as may be mortgaged to Sublandlord; and such trade fixtures, fixtures and personal property may be disposed of by Sublandlord in Sublandlord's sole discretion at Subtenant's cost, without further notice to or demand upon Subtenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.14&nbsp;&nbsp;&nbsp;&nbsp;**No Merger**. A surrender of this Sublease by Subtenant, whether voluntary or involuntary, or a mutual cancellation of this Sublease by Sublandlord and Subtenant, shall not work a merger, and shall, at the option of Sublandlord, either (i) terminate any existing subleases or subtenancies, or (ii) operate as an assignment to Sublandlord of any existing subleases or subtenancies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.15&nbsp;&nbsp;&nbsp;&nbsp;**Severability**. The invalidity of any provision of this Sublease as determined by a court of competent jurisdiction shall in no way affect the validity of any other provision hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.16&nbsp;&nbsp;&nbsp;&nbsp;**Signs and Communication Devices**. No sign, placard, picture, advertisement, name or notice ("**<u>Sign</u>**") shall be inscribed, displayed, printed or affixed to or near any part of the outside or inside

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of the Building (including the appurtenant and surrounding land), nor shall any radio or television antenna, satellite receiver, loud speaker or other telecommunication device ("**<u>Device</u>**") be installed, affixed, or placed on or within the Premises, Building or such land, without first obtaining the prior written consent of Sublandlord. Sublandlord shall have the right to remove any Sign or Device which violates this Section without notice to and at the expense of Subtenant. All approved Signs and Devices shall be installed at Subtenant's sole cost.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.17&nbsp;&nbsp;&nbsp;&nbsp;**Bicycle Racks**. During the Term, Subtenant's employees may (subject to space availability and compliance with the applicable rules and regulations for the Property pertaining to the bike storage space) store their bicycles in the secured bicycle storage space currently located on the ground level of the Stevenson Building (as defined in the Master Lease); provided, however, to the extent Sublandlord's use of the bicycle racks under the Master Lease is limited by Master Landlord, Subtenant shall be entitled to the use of its pro rata share of such available bicycle racks based on the ratio that the square footage of the Rentable Area of the Premises bears to the total square footage of the Rentable Area of the premises under the Master Lease. Further, throughout the Term, Subtenant's employees may bring bicycles through the service elevator and into the Premises. Subtenant shall ensure that the bicycles do not damage the walls, carpeting, or floors in the Property and shall reimburse Sublandlord for any additional janitorial costs in the elevators or other Common Areas (as defined in the Master Lease) incurred by Master Landlord and/or Sublandlord as a result of the bicycles being brought into the Premises within thirty (30) days of receipt of an invoice therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.18&nbsp;&nbsp;&nbsp;&nbsp;**No Light, Air or View Rights**. This Sublease does not grant or confer, and Subtenant shall not have, any rights to light, air, views or airspace adjacent to or above the Building. Any diminution of light, air or views by any structure which may be erected adjacent to the Building shall not affect this Sublease or the obligations of the parties hereunder, or in any way render Sublandlord liable to Subtenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.19&nbsp;&nbsp;&nbsp;&nbsp;**Attorneys' Fees**. If Subtenant shall assign or sublet the Premises or request the consent of Sublandlord to any assignment or subletting, or if Subtenant shall request the consent of Sublandlord for any other act that Subtenant proposes to do, then Subtenant shall pay Sublandlord's reasonable attorneys' fees incurred in connection therewith. If either party retains an attorney to enforce the terms of or obtain a declaration of rights under this Sublease, or to collect any rent due under this Sublease, or to recover possession of the Premises, the prevailing party shall be entitled to recover from the other party its attorneys' fees and costs regardless of whether any legal proceeding is commenced. For purposes of this Section 28.19, a party shall be the prevailing party (i) if judgment is entered in favor of such party, or (ii) if prior to final judgment, or trial, or the commencement of legal proceedings, the other party shall cure, or undertake to cure, the default or defaults claimed by such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.20&nbsp;&nbsp;&nbsp;&nbsp;**Confidentiality**. Subtenant agrees that the terms and provisions of this Sublease are confidential, and that neither Subtenant, nor its agents, representatives or professional counsel or advisors, will divulge any part of the terms, conditions and agreements evidenced by and relating to this Sublease without first obtaining the express written consent of Sublandlord.

***[SIGNATURE PAGE FOLLOWS]***

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**IN WITNESS WHEREOF**, the parties hereto have executed this Sublease as of the date and year last below written.

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| | | | |
|:---|:---|:---|:---|
| **SUBLANDLORD:** | **SUBLANDLORD:** | **SUBTENANT:** | **SUBTENANT:** |
| **X Corp.**, | **X Corp.**, | **Motive Technologies, Inc.**, | **Motive Technologies, Inc.**, |
| a Nevada corporation | a Nevada corporation | a Delaware corporation | a Delaware corporation |
| By: | /s/ M. Reza Banki | By: | /s/ Shulamite White |
|  | Name: M. Reza Banki |  | Name: Shulamite White |
|  | Title: CFO |  | Title: Chief Legal Officer |

---

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**<u>EXHIBIT A</u>**

**<u>PREMISES – FLOOR PLAN</u>**

Exhibit A – Page 1

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**<u>EXHIBIT B</u>**

**<u>MASTER LEASE</u>**

Exhibit B – Page 1

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**<u>EXHIBIT C</u>**

**<u>REMAINING FF&E</u>**

## Exhibit 10.10

**Exhibit 10.10**

**MOTIVE TECHNOLOGIES, INC.** 

**STOCK EXCHANGE AGREEMENT**

**THIS STOCK EXCHANGE AGREEMENT** (this "***Agreement***") is made as of April 12, 2022 (the "***Effective Date***"), by and between Motive Technologies, Inc., a Delaware corporation (the "***Company***"), and Shoaib Makani ("***Holder***").

**WHEREAS,** Holder currently owns (i) 53,280,483 shares of Class A Common Stock of the Company (the "***Class A Common Stock***," and such shares, the "***Initial Shares***"), and (ii) options exercisable for up to an aggregate of 16,221,640 shares of Class A Common Stock (such shares of Class A Common Stock that are actually issued, if at all, upon exercise of such options, the "***Option Exercise Shares***"), in each case as may be adjusted pursuant to any stock split, reverse stock split, reclassification or other change in the capital structure of the Company, as determined by the Company's Board of Directors in its discretion;

**WHEREAS,** Holder may from time to time in the future acquire options, restricted stock units and/or other similar equity awards exercisable or redeemable for shares of Class A Common Stock (such shares of Class A Common Stock, collectively with the Option Exercise Shares, the "***Future Shares***");

**WHEREAS,** Holder desires to exchange all Initial Shares for 53,280,483 shares of Class B Common Stock of the Company (the "***Class B Common Stock***") on the terms and conditions set forth in this Agreement (such transaction, the "***Initial Exchange***," and the shares of Class B Common Stock issued in the Initial Exchange, the "***Initial Exchange Shares***"); and

**WHEREAS,** Holder and the Company have agreed that, upon the issuance by the Company of any Future Shares to Holder, Holder may, at any time following such issuance, exchange all or any portion of such Future Shares for an equal number of shares of Class B Common Stock, not to exceed the number of shares of Class B Common Stock from time to time authorized for issuance under the certificate of incorporation of the Company, in each case on the terms and conditions set forth in this Agreement (each such transaction, a "***Future Exchange***," and the shares of Class B Common Stock issued in any Future Exchange, the "***Future Exchange Shares***").

**NOW, THEREFORE,** in consideration of the foregoing, and of the mutual promises, covenants and conditions hereinafter contained, the receipt and sufficiency of which is hereby acknowledged, the undersigned parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;INITIAL EXCHANGE AND ASSIGNMENT; INITIAL CLOSING**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1&nbsp;&nbsp;&nbsp;&nbsp;Exchange of the Initial Shares for the Initial Exchange Shares.** Subject to the terms and conditions set forth in this Agreement, effective upon the later of (a) execution of this Agreement on the Effective Date and (b) if applicable, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "***HSR Act***") with respect to the issuance of the Initial Exchange Shares (such later date, the "***Initial***

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***Closing***"), Holder hereby exchanges and assigns to the Company all of Holder's right, title and interest in and to the Initial Shares in exchange for the Company's issuance to Holder of the Initial Exchange Shares. Holder acknowledges and agrees that, upon and following the Initial Exchange, he will have no further right or interest in the Initial Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2&nbsp;&nbsp;&nbsp;&nbsp;Mechanics of Exchange.** At the Initial Closing, Holder will deliver to the Company an executed Stock Assignment Separate from Certificate in the form attached hereto as **Exhibit A**, duly endorsing the Initial Shares held by Holder for transfer to the Company and as soon as reasonably practicable after the Initial Closing, the Company shall issue a certificate evidencing the Initial Exchange Shares to Holder as contemplated by this Section 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;FUTURE EXCHANGE AND ASSIGNMENT; FUTURE CLOSINGS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1&nbsp;&nbsp;&nbsp;&nbsp;Exchange of Future Shares for Future Exchange Shares.** Following any issuance by the Company of Future Shares to Holder, at any time and from time to time, Holder shall have the right to notify the Company of Holder's election to exchange all or any portion of such Future Shares for an equal number of shares of Class B Common Stock (such notice, an "***Exchange Election Notice***"), provided however, that if Holder has not, as of the date that is 60 days after any such issuance, notified the Company of an election not to exchange all or any portion of such Future Shares, then Holder will be deemed to have provided the Company with an Exchange Election Notice on such date ("***Automatic Election***"). Subject to the terms and conditions set forth in this Agreement, upon the receipt by the Company of an Exchange Election Notice or upon an Automatic Election (each, a "***Future Closing***"), Holder shall exchange and assign to the Company all of Holder's right, title and interest in and to the Future Shares covered by such Exchange Election Notice or Automatic Election in exchange for the Company's issuance to Holder of an equal number of Future Exchange Shares, <u>provided</u>, <u>however</u>, that any Future Closing shall be deferred until the expiration or termination of any applicable waiting period under the HSR Act with respect to the issuance of Future Exchange Shares. Holder acknowledges and agrees that, following any Future Exchange, he will have no further right or interest in the Future Shares subject to such Future Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2&nbsp;&nbsp;&nbsp;&nbsp;Mechanics of Exchange.** At each Future Closing, Holder will deliver to the Company an executed Stock Assignment Separate from Certificate in the form attached hereto as **Exhibit A**, duly endorsing the applicable Future Shares held by Holder for transfer to the Company and as soon as reasonably practicable after such Future Closing, the Company shall issue a certificate evidencing the applicable Future Exchange Shares to Holder as contemplated by this Section 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES OF HOLDER.** Holder hereby represents and warrants to the Company, as of the Initial Closing and each Future Closing (each, a "***Closing***"), that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1&nbsp;&nbsp;&nbsp;&nbsp;Authorization.** Holder has full power and authority to enter into this Agreement. This Agreement and each Stock Assignment Separate from Certificate, when executed and delivered by Holder, will constitute valid and legally binding obligations of Holder, enforceable in accordance with their terms, except as limited by applicable bankruptcy,

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insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application affecting enforcement of creditors' rights generally, and as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2&nbsp;&nbsp;&nbsp;&nbsp;Right, Title and Interest.** Holder is the sole beneficial and legal owner of the Initial Shares and, with respect to any Future Closing, the applicable Future Shares, free and clear of all liens, encumbrances and restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3&nbsp;&nbsp;&nbsp;&nbsp;Disclosure of Information.** Holder has received all of the information that Holder considers necessary or appropriate for deciding whether to exchange the Initial Shares for the Initial Exchange Shares (in the case of the Initial Closing) or the applicable Future Shares for the applicable Future Exchange Shares (in the case of any Future Closing). Holder further represents that Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of this Agreement, the Initial Exchange (or the applicable Future Exchange) and the business, properties, prospects and financial condition of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4&nbsp;&nbsp;&nbsp;&nbsp;Purchase Entirely for Own Account.** This Agreement is made with Holder in reliance upon Holder's representation to the Company, which by Holder's execution of this Agreement, Holder hereby confirms, that the Initial Exchange Shares and Future Exchange Shares (as applicable) to be acquired by Holder at the applicable Closing will be acquired for investment for Holder's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that Holder has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, Holder further represents and warrants that Holder does not presently have any contract, undertaking, agreement or arrangement with any individual, corporation, partnership, trust, limited liability company, association or other entity (collectively, a "**Person**") to sell, transfer, convey or pledge to such Person, or to any third Person, any of the Initial Exchange Shares or Future Exchange Shares (as applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5&nbsp;&nbsp;&nbsp;&nbsp;Restricted Securities.** Holder understands that the Initial Exchange Shares and Future Exchange Shares, as applicable, have not been, and will not be, registered under the Securities Act of 1933, as amended (the "**Securities Act**"), by reason of one or more specific exemptions from the registration provisions of the Securities Act which depend upon, among other things, the bona fide nature of the investment intent and the accuracy of Holder's representations as expressed herein. Holder understands that the Initial Exchange Shares and Future Exchange Shares, as applicable, are "restricted securities" under applicable U.S. federal and state securities laws and that, pursuant to these laws, Holder must hold the Initial Exchange Shares and Future Exchange Shares, as applicable, indefinitely unless and until they are registered pursuant to the provisions of the Securities Act and qualified by state authorities, or an exemption from such registration and qualification requirements is or becomes available with respect to such shares. Holder acknowledges that the Company has no obligation or current intention to register or qualify the Initial Exchange Shares or Future Exchange Shares, as applicable, for resale or other disposition. Holder further acknowledges that if an exemption from registration or qualification is or becomes available, it may be conditioned on various

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requirements including, but not limited to: the time and manner of sale of the Initial Exchange Shares or Future Exchange Shares, as applicable, the holding period related to the Initial Exchange Shares or Future Exchange Shares, as applicable, and/or on other requirements relating to the Company or other circumstances which are outside of Holder's control, and which the Company is under no obligation and may not be able to satisfy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6&nbsp;&nbsp;&nbsp;&nbsp;No Public Market.** Holder understands that no public market now exists for the Initial Exchange Shares or Future Exchange Shares, as applicable, and that the Company has made no assurances that a public market will ever exist for such shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.7&nbsp;&nbsp;&nbsp;&nbsp;Legends.** Holder understands that the Initial Exchange Shares and Future Exchange Shares, as applicable, and any securities issued in respect of or exchange for such shares, may bear (i) any legend set forth in, or required by, the Company's Certificate of Incorporation or Bylaws, or any other agreement between the Company and Holder, including, without limitation, that certain Amended and Restated Voting Agreement, dated April 30, 2021, by and among the Company, the Key Holders (as defined therein) and the Investors (as defined therein) and that certain Amended and Restated Right of First Refusal and Co-Sale Agreement, dated April 30, 2021, by and among the Company, the Key Holders (as defined therein) and the Investors (as defined therein) ("***Transfer Restrictions***"), and (ii) any legend required by any federal, state, municipal, local or other securities laws to the extent such laws are applicable to the Initial Exchange Shares or Future Exchange Shares, as applicable, or to shares of Class B Common Stock represented by the certificate so legended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.8&nbsp;&nbsp;&nbsp;&nbsp;Accredited Investor.** Holder is an accredited investor as defined in Rule 50l(a) of Regulation D promulgated under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.9&nbsp;&nbsp;&nbsp;&nbsp;Foreign Investors.** If Holder is not a United States person (as defined by Section 770l(a)(30) of the Internal Revenue Code of 1986, as amended, Holder hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Initial Exchange Shares or Future Exchange Shares, as applicable, or any use of this Agreement including, without limitation: (a) the legal requirements within its jurisdiction for the purchase or exchange of the Initial Exchange Shares or Future Exchange Shares, as applicable; (b) any foreign exchange restrictions applicable to such purchase or exchange; (c) any governmental or other consents that may need to be obtained; and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase, exchange, holding, redemption, sale, pledge, transfer, hypothecation or other conveyance of the Initial Exchange Shares or Future Exchange Shares, as applicable. Holder's subscription and payment for, and continued beneficial ownership of, the Initial Exchange Shares and Future Exchange Shares, as applicable, will not violate any applicable securities or other laws of Holder's jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.10&nbsp;&nbsp;&nbsp;&nbsp;No General Solicitation.** Neither Holder, nor any of its employees, agents, partners or affiliates of any kind, has either directly or indirectly, including through a broker or finder: (a) engaged in any general solicitation for the offer and sale of the Initial Exchange Shares or Future Exchange Shares, as applicable, or (b) published any advertisement in connection with the offer and sale of such shares.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.11&nbsp;&nbsp;&nbsp;&nbsp;Exculpation.** Holder acknowledges that it is not relying upon any Person in making its investment or decision to participate in the Initial Exchange or any Future Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.12&nbsp;&nbsp;&nbsp;&nbsp;Residence.** As of the Initial Closing, Holder resides in the jurisdiction identified in the address of Holder as set forth on Holder's signature page hereto. Holder shall notify the Company if Holder's residence changes prior to any Future Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES OF THE COMPANY.** The Company represents and warrants to the Holder, as of each Closing, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1&nbsp;&nbsp;&nbsp;&nbsp;Organization, Good Standing, Corporate Power and Qualification.** The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted and as proposed to be conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2&nbsp;&nbsp;&nbsp;&nbsp;Authorization.** All corporate action required to be taken by the Company and its stockholders in order to authorize the Company to enter into this Agreement, and to issue the Initial Exchange Shares and Future Exchange Shares, as applicable, has been taken or will be taken prior to the applicable Closing. All action on the part of the officers of the Company necessary for the execution and delivery of this Agreement, the performance of all obligations of the Company under this Agreement to be performed as of the applicable Closing, and the issuance and delivery of the Initial Exchange Shares and Future Exchange Shares, as applicable, has been taken or will be taken prior to the applicable Closing. This Agreement, when executed and delivered by the Company, shall constitute a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application affecting enforcement of creditors' rights generally, and as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Other Instruments.** The Company is not in violation or default (i) of any provisions of its Certificate of Incorporation or Bylaws, (ii) any judgment, order, writ or decree of any court or governmental entity, or (iii) under any agreement, instrument, contract, lease, note, indenture, mortgage or purchase order, the violation of which would have a material adverse effect. The execution, delivery and performance of the Agreement and the consummation of the transactions contemplated by the Agreement will not result in any such violation or default, or constitute, with or without the passage of time and giving of notice, either (i) a default under any such judgment, order, writ, decree, agreement, instrument, contract, lease, note, indenture, mortgage or purchase order or (ii) an event which results in the creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, forfeiture, or nonrenewal of any material permit or license applicable to the Company.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4&nbsp;&nbsp;&nbsp;&nbsp;Valid Issuance of Exchange Shares and Conversion Shares**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)&nbsp;&nbsp;&nbsp;&nbsp;**No "bad actor" disqualifying event described in Rule 506(d)(l)(i)-(viii) of the Securities Act (a "**Disqualification Event**") is applicable to the Company or, to the Company's knowledge, any Company Covered Person, except for a Disqualification Event as to which Rule 506(d)(2)(ii-iv) or (d)(3), is applicable. A "**Company Covered Person**" means, with respect to the Company as an "issuer" for purposes of Rule 506 promulgated under the Securities Act, any Person listed in the first paragraph of Rule 506(d)(l).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)&nbsp;&nbsp;&nbsp;&nbsp;**The Company has reserved a sufficient number of shares of (i) Class A Common Stock to issue the Future Shares, (ii) Class B Common Stock for the exchange of the Future Shares and (iii) Class A Common Stock for the conversion of all the Future Exchange Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;GENERAL PROVISIONS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1&nbsp;&nbsp;&nbsp;&nbsp;Tax Matters.** The parties to this Agreement intend that all Initial Exchange Shares and Future Exchange Shares received in the Initial Exchange or any Future Exchange, as applicable, be treated as received in a tax-free recapitalization under Section 368(a)(1)(E) of the Code and shall report consistently with such treatment for all tax purposes, unless otherwise required by a final determination by the Internal Revenue Service or other applicable governmental taxing authority. Notwithstanding the foregoing, the Company makes no representations as to whether the Initial Exchange Shares or Future Exchange Shares constitute "non-qualified preferred stock" within the meaning of Sections 351 and 354 of the Code or "Section 306 stock" within the meaning of Section 306 of the Code. Holder acknowledges and agrees that he has not received, and is not relying upon, any tax or financial advice from the Company or any Company affiliate or representative as to the consequences of the transactions referred to herein, and has consulted and relied solely upon Holder's personal tax and other advisors as to such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2&nbsp;&nbsp;&nbsp;&nbsp;Governing Law.** This Agreement and any controversy arising out of or relating to this Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all

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other matters shall be governed by and construed in accordance with the internal laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3&nbsp;&nbsp;&nbsp;&nbsp;Further Assurances; Cooperation.** Each party will execute such documents and take such actions as are reasonably requested by the other party to complete the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4&nbsp;&nbsp;&nbsp;&nbsp;Amendments and Waivers.** Any term of this Agreement may be amended, terminated or waived only with the written consent of the Company and Holder. Any amendment, termination or waiver effected in accordance with this Section 5.4 shall be binding upon Holder and each transferee of the Initial Exchange Shares or any Future Exchange Shares, as applicable, each future holder of any such securities, and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5&nbsp;&nbsp;&nbsp;&nbsp;Successors and Assigns.** This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted transferees, except as may be expressly provided otherwise herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6&nbsp;&nbsp;&nbsp;&nbsp;Severability.** The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7&nbsp;&nbsp;&nbsp;&nbsp;Notice.** All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or: (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient's next business day, (Holder's email is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Company's email is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid or (d) one (1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their address as set forth on such party's signature page, or to such e-mail address, facsimile number or address as subsequently modified by written notice given in accordance with this Section 5.7. If notice is given to the Company, a copy shall also be given to Cooley LLP, 3 Embarcadero Ctr 20th Floor, San Francisco, CA 94111, Attention: Rachel Proffitt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8&nbsp;&nbsp;&nbsp;&nbsp;No Waiver.** Any party's failure to enforce any provision or provisions of this Agreement shall not in any way be construed as a waiver of any such provision or provisions, nor prevent that party thereafter from enforcing each and every other provision of this Agreement. The rights granted to the parties herein are cumulative and shall not constitute a waiver of any party's right to assert all other legal remedies available to it under the circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9&nbsp;&nbsp;&nbsp;&nbsp;Specific Enforcement.** It is agreed and understood that monetary damages would not adequately compensate an injured party for the breach of this Agreement by any party, that this Agreement will be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining

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order. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10&nbsp;&nbsp;&nbsp;&nbsp;Counterparts.** This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.11&nbsp;&nbsp;&nbsp;&nbsp;Independent Counsel.** Holder acknowledges that this Agreement has been prepared on behalf of the Company by Cooley LLP, counsel to the Company, and that Cooley LLP does not represent, and is not acting on behalf of, Holder. Holder has been provided with an opportunity to consult with Holder's own counsel with respect to this Agreement.

**[Remainder of Page Intentionally Left Blank]**

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**IN WITNESS WHEREOF,** the parties have executed this Stock Exchange Agreement as of the date first written above.

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| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **MOTIVE TECHNOLOGIES, INC.** | **MOTIVE TECHNOLOGIES, INC.** |
| By: | /s/ Shu White |
| Name: Shu White | Name: Shu White |
| Title: General Counsel | Title: General Counsel |

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**IN WITNESS WHEREOF,** the parties have executed this Stock Exchange Agreement as of the date first written above.

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| |
|:---|
| **HOLDER:** |
| **Shoaib Makani** |
| /s/ Shoaib Makani |
| Address: |

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**EXHIBIT A**

**FORM OF STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE**

**FOR VALUE RECEIVED,** the undersigned hereby sells, assigns and transfers unto **MOTIVE TECHNOLOGIES, INC.**, a Delaware corporation (the "**Company**"), pursuant to the Stock Exchange Agreement, dated April 12, 2022, by and between the undersigned and the Company (the "**Agreement**") 53,280,483 shares of Class A Common Stock of the Company standing in the undersigned's name on the books of the Company represented by Certificate No. _____ and does hereby irrevocably constitute and appoint the Company's Secretary to transfer said stock on the books of the Company with full power of substitution in the premises in accordance with the Agreement.

Dated: April 12, 2022

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| |
|:---|
| /s/ Shoaib Makani |
| (Signature) |
| Shoaib Makani |
| Name (Please Print) |

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